IZZO: what changed
Two fiscal 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.
IZZO
Largest movements
- Cash -€10,962
down €10,962 (-60.3%), from €18,175 to €7,213
mainly Receivables within one year (-€9,634) and Stocks and contracts (-€6,750)
- Receivables within one year +€9,634
up €9,634 (+202.3%), from €4,762 to €14,396
- Stocks and contracts +€6,750
up €6,750 (+168.8%), from €4,000 to €10,750
- Tangible fixed assets +€3,988
up €3,988 (+674.0%), from €592 to €4,580
- Reserves +€4,435
up €4,435 (+23.9%), from €18,565 to €23,000
- Trade debts +€3,779
up €3,779 (+746.8%), from €506 to €4,284
- Tax, wage and social debts +€1,412
up €1,412 (+38.0%), from €3,717 to €5,129
- Gross operating margin -€27,812
down €27,812 (-73.1%), from €38,051 to €10,239
- Staff costs -€9,218
no longer reported in 2025 (was €9,218)
- Other operating charges -€663
down €663 (-17.0%), from €3,888 to €3,225
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.
Cash bridge derived
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 | €29,788 | €39,414 | +€9,626 | +32.3% |
| Fixed assets | 21/28 | €592 | €4,580 | +€3,988 | +674.0% |
| Tangible fixed assets | 22/27 | €592 | €4,580 | +€3,988 | +674.0% |
| Furniture and vehicles | 24 | €592 | €4,580 | +€3,988 | +674.0% |
| Current assets | 29/58 | €29,196 | €34,834 | +€5,637 | +19.3% |
| Stocks and contracts in progress | 3 | €4,000 | €10,750 | +€6,750 | +168.8% |
| Stocks | 30/36 | €4,000 | €10,750 | +€6,750 | +168.8% |
| Amounts receivable within one year | 40/41 | €4,762 | €14,396 | +€9,634 | +202.3% |
| Other amounts receivable | 41 | €4,762 | €14,396 | +€9,634 | +202.3% |
| Cash at bank and in hand | 54/58 | €18,175 | €7,213 | -€10,962 | -60.3% |
| Deferred charges and accrued income | 490/1 | €2,259 | €2,474 | +€215 | +9.5% |
| Total equity and liabilities | 10/49 | €29,788 | €39,414 | +€9,626 | +32.3% |
| Equity | 10/15 | €25,565 | €30,000 | +€4,435 | +17.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €18,565 | €23,000 | +€4,435 | +23.9% |
| Distributable reserves | 133 | €18,565 | €23,000 | +€4,435 | +23.9% |
| Amounts payable | 17/49 | €4,223 | €9,413 | +€5,191 | +122.9% |
| Amounts payable within one year | 42/48 | €4,223 | €9,413 | +€5,191 | +122.9% |
| Trade debts | 44 | €506 | €4,284 | +€3,779 | +746.8% |
| Suppliers | 440/4 | €506 | €4,284 | +€3,779 | +746.8% |
| Taxes, remuneration and social security | 45 | €3,717 | €5,129 | +€1,412 | +38.0% |
| Taxes | 450/3 | €3,717 | €5,129 | +€1,412 | +38.0% |
| Remuneration, social security and pensions | 62 | €9,218 | - | -€9,218 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14 | €355 | +€341 | +2467.9% |
| Other operating charges | 640/8 | €3,888 | €3,225 | -€663 | -17.0% |
| Non-recurring operating charges | 66A | €390 | - | -€390 | |
| Gross operating margin | 9900 | €38,051 | €10,239 | -€27,812 | -73.1% |
| Operating profit (loss) | 9901 | €24,541 | €6,659 | -€17,882 | -72.9% |
| Financial income | 75/76B | €64 | €124 | +€60 | +93.8% |
| Recurring financial income | 75 | €64 | €124 | +€60 | +93.8% |
| Financial charges | 65/66B | €496 | €626 | +€131 | +26.4% |
| Recurring financial charges | 65 | €496 | €626 | +€131 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €24,109 | €6,157 | -€17,953 | -74.5% |
| Income taxes | 67/77 | €1,563 | €1,722 | +€159 | +10.1% |
| Profit (loss) for the period | 9904 | €22,546 | €4,435 | -€18,111 | -80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,546 | €4,435 | -€18,111 | -80.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.