ILWA: 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.
What changed
ILWA
NACE 31.002, Manufacture of furniture
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€756,362
2024 · €286,523+€469,839
Equity
€2.4m
2024 · €2.7m-€263,638
Cash
€1.5m
2024 · €684,142+€781,101
Balance sheet total
€4.5m
2024 · €4.3m+€224,895
Largest movements
Assets
- Cash +€781,101
up €781,101 (+114.2%), from €684,142 to €1.5m
mainly Net result for the year (+€756,362) and Other debts (+€480,000)
- Stocks and contracts -€299,198
down €299,198 (-18.4%), from €1.6m to €1.3m
- Financial fixed assets -€188,461
down €188,461 (-99.5%), from €189,440 to €979
- Receivables within one year -€96,891
down €96,891 (-9.4%), from €1.0m to €929,127
of which Trade receivables: -€116,474
- Tangible fixed assets +€60,006
up €60,006 (+8.6%), from €696,183 to €756,189
of which Leasing and similar rights: +€78,851
Equity and liabilities
- Other debts +€480,000
up €480,000 (+8033.1%), from €5,975 to €485,975
- Profit (loss) carried forward -€303,638
down €303,638 (-29.9%), from €1.0m to €711,840
- Trade debts +€74,136
up €74,136 (+18.7%), from €396,742 to €470,878
Income statement
- Gross operating margin +€736,367
up €736,367 (+20.2%), from €3.6m to €4.4m
- Taxes +€152,035
up €152,035 (+120.9%), from €125,723 to €277,757
- Staff costs +€89,392
up €89,392 (+3.1%), from €2.9m to €3.0m
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.
Result 2024
€286,523
Gross operating margin
+€736,367
Staff costs
-€89,392
Depreciation
-€30,523
Other operating charges
+€3,365
Other operating items
-€1,784
Financial income
+€6,962
Financial charges
-€3,122
Taxes
-€152,035
Result 2025
€756,362
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.
From operations
+€1.9m
Investment
-€151,093
Financing
-€1.0m
Cash 2024
€684,142
From operations (derived)
+€1.9m
Net result for the year
+€756,362
Depreciation
+€279,548
Stocks and contracts
+€299,198
Receivables within one year
+€96,891
Deferred charges and accrued income
+€31,662
Trade debts
+€74,136
Tax, wage and social debts
-€42,778
Advances received
-€40,726
Other debts
+€480,000
Accrued charges and deferred income
+€648
Investment (derived)
-€151,093
Investment in fixed assets (net)
-€151,093
Financing
-€1.0m
Debts after one year
+€38,913
Current portion of long-term debt
-€18,344
Short-term financial debts
-€3,316
Contributions, distributions and other
-€1.0m
Cash 2025
€1.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,262,048 | €4,486,943 | +€224,895 | +5.3% |
| Fixed assets | 21/28 | €885,623 | €757,168 | -€128,455 | -14.5% |
| Tangible fixed assets | 22/27 | €696,183 | €756,189 | +€60,006 | +8.6% |
| Plant, machinery and equipment | 23 | €85,320 | €74,630 | -€10,689 | -12.5% |
| Furniture and vehicles | 24 | €223,498 | €231,638 | +€8,140 | +3.6% |
| Leasing and similar rights | 25 | €310,269 | €389,120 | +€78,851 | +25.4% |
| Other tangible fixed assets | 26 | €77,097 | €60,801 | -€16,296 | -21.1% |
| Financial fixed assets | 28 | €189,440 | €979 | -€188,461 | -99.5% |
| Current assets | 29/58 | €3,376,425 | €3,729,775 | +€353,350 | +10.5% |
| Stocks and contracts in progress | 3 | €1,622,719 | €1,323,521 | -€299,198 | -18.4% |
| Stocks | 30/36 | €1,622,719 | €1,323,521 | -€299,198 | -18.4% |
| Amounts receivable within one year | 40/41 | €1,026,018 | €929,127 | -€96,891 | -9.4% |
| Trade receivables | 40 | €988,773 | €872,298 | -€116,474 | -11.8% |
| Other amounts receivable | 41 | €37,246 | €56,829 | +€19,584 | +52.6% |
| Cash at bank and in hand | 54/58 | €684,142 | €1,465,242 | +€781,101 | +114.2% |
| Deferred charges and accrued income | 490/1 | €43,546 | €11,884 | -€31,662 | -72.7% |
| Total equity and liabilities | 10/49 | €4,262,048 | €4,486,943 | +€224,895 | +5.3% |
| Equity | 10/15 | €2,655,791 | €2,392,153 | -€263,638 | -9.9% |
| Contributions | 10/11 | €1,446,000 | €1,446,000 | = | 0.0% |
| Capital | 10 | €1,446,000 | €1,446,000 | = | 0.0% |
| Issued capital | 100 | €1,446,000 | €1,446,000 | = | 0.0% |
| Reserves | 13 | €194,313 | €234,313 | +€40,000 | +20.6% |
| Non-distributable reserves | 130/1 | €123,379 | €163,379 | +€40,000 | +32.4% |
| Legal reserve | 130 | €123,379 | €163,379 | +€40,000 | +32.4% |
| Tax-exempt reserves | 132 | €57,278 | €57,278 | = | 0.0% |
| Distributable reserves | 133 | €13,656 | €13,656 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,015,478 | €711,840 | -€303,638 | -29.9% |
| Amounts payable | 17/49 | €1,606,257 | €2,094,791 | +€488,533 | +30.4% |
| Amounts payable after more than one year | 17 | €261,584 | €300,497 | +€38,913 | +14.9% |
| Financial debts | 170/4 | €261,584 | €300,497 | +€38,913 | +14.9% |
| Amounts payable within one year | 42/48 | €1,323,953 | €1,772,926 | +€448,972 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | €158,958 | €140,614 | -€18,344 | -11.5% |
| Financial debts | 43 | €35,648 | €32,332 | -€3,316 | -9.3% |
| Credit institutions | 430/8 | €35,648 | €32,332 | -€3,316 | -9.3% |
| Trade debts | 44 | €396,742 | €470,878 | +€74,136 | +18.7% |
| Suppliers | 440/4 | €396,742 | €470,878 | +€74,136 | +18.7% |
| Advances received on contracts in progress | 46 | €126,866 | €86,140 | -€40,726 | -32.1% |
| Taxes, remuneration and social security | 45 | €599,764 | €556,986 | -€42,778 | -7.1% |
| Taxes | 450/3 | €135,257 | €127,914 | -€7,344 | -5.4% |
| Remuneration and social security | 454/9 | €464,507 | €429,072 | -€35,434 | -7.6% |
| Other amounts payable | 47/48 | €5,975 | €485,975 | +€480,000 | +8033.1% |
| Accrued charges and deferred income | 492/3 | €20,720 | €21,368 | +€648 | +3.1% |
| Non-recurring operating income | 76A | €296 | €6,600 | +€6,304 | +2126.5% |
| Remuneration, social security and pensions | 62 | €2,893,573 | €2,982,965 | +€89,392 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249,025 | €279,548 | +€30,523 | +12.3% |
| Other operating charges | 640/8 | €24,828 | €21,463 | -€3,365 | -13.6% |
| Non-recurring operating charges | 66A | - | €1,784 | +€1,784 | |
| Gross operating margin | 9900 | €3,640,070 | €4,376,437 | +€736,367 | +20.2% |
| Operating profit (loss) | 9901 | €472,644 | €1,090,677 | +€618,033 | +130.8% |
| Financial income | 75/76B | €45,773 | €52,735 | +€6,962 | +15.2% |
| Recurring financial income | 75 | €45,773 | €52,735 | +€6,962 | +15.2% |
| Financial charges | 65/66B | €106,171 | €109,293 | +€3,122 | +2.9% |
| Recurring financial charges | 65 | €106,171 | €109,293 | +€3,122 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €412,246 | €1,034,119 | +€621,873 | +150.9% |
| Income taxes | 67/77 | €125,723 | €277,757 | +€152,035 | +120.9% |
| Profit (loss) for the period | 9904 | €286,523 | €756,362 | +€469,839 | +164.0% |
| Profit (loss) for the period to be appropriated | 9905 | €286,523 | €756,362 | +€469,839 | +164.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.