IZR-werken: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IZR-werken
Largest movements
- Cash +€60,476
up €60,476 (+64.0%), from €94,466 to €154,942
mainly Net result for the year (+€91,211) and Current portion of long-term debt (+€23,915)
- Receivables within one year +€31,894
up €31,894 (+189%), from €16,891 to €48,785
of which Trade receivables: +€27,944
- Tangible fixed assets -€6,505
down €6,505 (-3.7%), from €174,656 to €168,152
of which Land and buildings: -€6,134
- Financial fixed assets +€3,910
new in 2025: €3,910
- Reserves +€72,326
up €72,326 (+74.5%), from €97,032 to €169,358
of which Distributable reserves: +€72,326
- Current portion of long-term debt +€23,915
up €23,915 (+227%), from €10,540 to €34,455
- Debts after one year -€11,058
down €11,058 (-10.1%), from €109,247 to €98,189
- Gross operating margin +€106,639
up €106,639 (+255%), from €41,749 to €148,388
- Taxes +€31,913
up €31,913 (+441%), from €7,240 to €39,153
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €290,834 | €380,734 | +€89,900 | +30.9% |
| Fixed assets | 21/28 | €174,656 | €172,062 | -€2,595 | -1.5% |
| Tangible fixed assets | 22/27 | €174,656 | €168,152 | -€6,505 | -3.7% |
| Land and buildings | 22 | €160,344 | €154,211 | -€6,134 | -3.8% |
| Plant, machinery and equipment | 23 | - | €1,234 | +€1,234 | |
| Other tangible fixed assets | 26 | €14,312 | €12,707 | -€1,605 | -11.2% |
| Financial fixed assets | 28 | - | €3,910 | +€3,910 | |
| Current assets | 29/58 | €116,178 | €208,673 | +€92,495 | +79.6% |
| Stocks and contracts in progress | 3 | €2,340 | €2,840 | +€500 | +21.4% |
| Stocks | 30/36 | €2,340 | €2,840 | +€500 | +21.4% |
| Amounts receivable within one year | 40/41 | €16,891 | €48,785 | +€31,894 | +189% |
| Trade receivables | 40 | €13,215 | €41,159 | +€27,944 | +211% |
| Other amounts receivable | 41 | €3,676 | €7,626 | +€3,950 | +107% |
| Cash at bank and in hand | 54/58 | €94,466 | €154,942 | +€60,476 | +64.0% |
| Deferred charges and accrued income | 490/1 | €2,480 | €2,106 | -€374 | -15.1% |
| Total equity and liabilities | 10/49 | €290,834 | €380,734 | +€89,900 | +30.9% |
| Equity | 10/15 | €134,108 | €206,434 | +€72,326 | +53.9% |
| Contributions | 10/11 | €14,275 | €14,275 | = | 0.0% |
| Reserves | 13 | €97,032 | €169,358 | +€72,326 | +74.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €95,177 | €167,503 | +€72,326 | +76.0% |
| Profit (loss) carried forward | 14 | €22,801 | €22,801 | = | 0.0% |
| Amounts payable | 17/49 | €156,726 | €174,300 | +€17,574 | +11.2% |
| Amounts payable after more than one year | 17 | €109,247 | €98,189 | -€11,058 | -10.1% |
| Financial debts | 170/4 | €109,247 | €98,189 | -€11,058 | -10.1% |
| Amounts payable within one year | 42/48 | €47,479 | €75,894 | +€28,414 | +59.8% |
| Current portion of amounts payable after more than one year | 42 | €10,540 | €34,455 | +€23,915 | +227% |
| Trade debts | 44 | €7,375 | €10,533 | +€3,158 | +42.8% |
| Suppliers | 440/4 | €7,375 | €10,533 | +€3,158 | +42.8% |
| Taxes, remuneration and social security | 45 | €11,877 | €10,181 | -€1,696 | -14.3% |
| Taxes | 450/3 | €10,725 | €9,121 | -€1,604 | -15.0% |
| Remuneration and social security | 454/9 | €1,152 | €1,060 | -€92 | -8.0% |
| Other amounts payable | 47/48 | €17,688 | €20,725 | +€3,037 | +17.2% |
| Accrued charges and deferred income | 492/3 | - | €217 | +€217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,406 | €7,875 | +€469 | +6.3% |
| Other operating charges | 640/8 | €3,420 | €3,834 | +€414 | +12.1% |
| Gross operating margin | 9900 | €41,749 | €148,388 | +€106,639 | +255% |
| Operating profit (loss) | 9901 | €30,923 | €136,679 | +€105,755 | +342% |
| Financial income | 75/76B | €168 | €326 | +€158 | +94.2% |
| Recurring financial income | 75 | €168 | €326 | +€158 | +94.2% |
| Financial charges | 65/66B | €6,730 | €6,640 | -€90 | -1.3% |
| Recurring financial charges | 65 | €6,730 | €6,640 | -€90 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €24,361 | €130,364 | +€106,003 | +435% |
| Income taxes | 67/77 | €7,240 | €39,153 | +€31,913 | +441% |
| Profit (loss) for the period | 9904 | €17,120 | €91,211 | +€74,091 | +433% |
| Profit (loss) for the period to be appropriated | 9905 | €17,120 | €91,211 | +€74,091 | +433% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.