INTERWAFFLES: 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.
What changed
INTERWAFFLES
NACE 10.711, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€490,635
2024 · -€1.6m+€1.1m
Equity
€6.8m
2024 · €7.3m-€490,826
Cash
-
2024 · €972-€972
Balance sheet total
€36.7m
2024 · €37.3m-€643,656
Largest movements
Assets
- Tangible fixed assets -€2.4m
down €2.4m (-10.1%), from €23.5m to €21.1m
of which Plant, machinery and equipment: -€2.3m
- Receivables within one year +€1.5m
up €1.5m (+13.1%), from €11.6m to €13.1m
of which Trade receivables: +€1.5m
Equity and liabilities
- Short-term financial debts -€2.7m
down €2.7m (-11.2%), from €23.7m to €21.0m
- Trade debts +€2.0m
up €2.0m (+60.9%), from €3.3m to €5.3m
- Tax, wage and social debts +€517,945
up €517,945 (+17.1%), from €3.0m to €3.5m
of which Remuneration and social security: +€324,227
- Profit (loss) carried forward -€490,635
down €490,635 (-13.0%), from €3.8m to €3.3m
Income statement
- Turnover +€3.6m
up €3.6m (+6.3%), from €57.1m to €60.7m
- Services and other goods +€1.3m
up €1.3m (+8.1%), from €15.9m to €17.2m
- Goods and materials +€1.1m
up €1.1m (+3.4%), from €32.8m to €33.9m
of which Purchases: +€942,633
- Staff costs +€1.1m
up €1.1m (+6.8%), from €15.8m to €16.9m
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
-€1.6m
Turnover
+€3.6m
Other operating income
+€109,740
Goods and materials
-€1.1m
Services and other goods
-€1.3m
Staff costs
-€1.1m
Depreciation
-€19,241
Write-downs
+€45,482
Other operating charges
+€261,686
Other operating items
+€410,285
Financial income
-€15,888
Financial charges
+€189,698
Taxes
-€195
Result 2025
-€490,635
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
+€3.8m
Investment
-€1.2m
Financing
-€2.7m
Cash 2024
€972
From operations (derived)
+€3.8m
Net result for the year
-€490,635
Depreciation
+€3.6m
Stocks and contracts
-€221,762
Receivables within one year
-€1.5m
Trade debts
+€2.0m
Tax, wage and social debts
+€517,945
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€2.7m
Short-term financial debts
-€2.7m
Contributions, distributions and other
-€191
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,335,436 | €36,691,780 | -€643,656 | -1.7% |
| Fixed assets | 21/28 | €23,528,071 | €21,145,809 | -€2.4m | -10.1% |
| Tangible fixed assets | 22/27 | €23,528,071 | €21,145,809 | -€2.4m | -10.1% |
| Land and buildings | 22 | €11,371,369 | €10,743,108 | -€628,261 | -5.5% |
| Plant, machinery and equipment | 23 | €12,055,776 | €9,719,677 | -€2.3m | -19.4% |
| Furniture and vehicles | 24 | €12,375 | €4,269 | -€8,106 | -65.5% |
| Assets under construction and advance payments | 27 | €88,551 | €678,756 | +€590,205 | +666.5% |
| Current assets | 29/58 | €13,807,365 | €15,545,970 | +€1.7m | +12.6% |
| Stocks and contracts in progress | 3 | €2,247,137 | €2,468,899 | +€221,762 | +9.9% |
| Stocks | 30/36 | €2,247,137 | €2,468,899 | +€221,762 | +9.9% |
| Raw materials and consumables | 30/31 | €2,128,107 | €2,300,610 | +€172,503 | +8.1% |
| Work in progress | 32 | €3,658 | €2,446 | -€1,211 | -33.1% |
| Finished goods | 33 | €114,779 | €165,843 | +€51,064 | +44.5% |
| Goods purchased for resale | 34 | €594 | - | -€594 | |
| Amounts receivable within one year | 40/41 | €11,559,256 | €13,077,071 | +€1.5m | +13.1% |
| Trade receivables | 40 | €10,931,825 | €12,409,846 | +€1.5m | +13.5% |
| Other amounts receivable | 41 | €627,431 | €667,225 | +€39,794 | +6.3% |
| Cash at bank and in hand | 54/58 | €972 | - | -€972 | |
| Total equity and liabilities | 10/49 | €37,335,436 | €36,691,780 | -€643,656 | -1.7% |
| Equity | 10/15 | €7,338,112 | €6,847,286 | -€490,826 | -6.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €3,305,418 | €3,305,418 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,218,934 | €2,218,934 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Other | 1319 | €2,193,934 | €2,193,934 | = | 0.0% |
| Distributable reserves | 133 | €1,086,484 | €1,086,484 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,782,503 | €3,291,868 | -€490,635 | -13.0% |
| Investment grants | 15 | €191 | - | -€191 | |
| Amounts payable | 17/49 | €29,997,324 | €29,844,494 | -€152,830 | -0.5% |
| Amounts payable within one year | 42/48 | €29,997,324 | €29,844,494 | -€152,830 | -0.5% |
| Financial debts | 43 | €23,701,076 | €21,038,975 | -€2.7m | -11.2% |
| Other loans | 439 | €23,701,076 | €21,038,975 | -€2.7m | -11.2% |
| Trade debts | 44 | €3,270,955 | €5,262,281 | +€2.0m | +60.9% |
| Suppliers | 440/4 | €3,270,955 | €5,262,281 | +€2.0m | +60.9% |
| Taxes, remuneration and social security | 45 | €3,025,293 | €3,543,238 | +€517,945 | +17.1% |
| Taxes | 450/3 | €564,209 | €757,926 | +€193,717 | +34.3% |
| Remuneration and social security | 454/9 | €2,461,084 | €2,785,311 | +€324,227 | +13.2% |
| Operating income | 70/76A | €67,957,149 | €72,098,719 | +€4.1m | +6.1% |
| Turnover | 70 | €57,118,595 | €60,740,140 | +€3.6m | +6.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€26,769 | €49,853 | +€76,622 | |
| Other operating income | 74 | €10,865,323 | €10,975,063 | +€109,740 | +1.0% |
| Non-recurring operating income | 76A | - | €333,663 | +€333,663 | |
| Operating charges | 60/66A | €68,971,749 | €72,147,297 | +€3.2m | +4.6% |
| Goods for resale, raw materials and consumables | 60 | €32,810,283 | €33,910,774 | +€1.1m | +3.4% |
| Purchases | 600/8 | €33,324,015 | €34,266,648 | +€942,633 | +2.8% |
| Change in stocks: decrease (increase) | 609 | -€513,733 | -€355,875 | +€157,858 | +30.7% |
| Services and other goods | 61 | €15,897,319 | €17,181,036 | +€1.3m | +8.1% |
| Remuneration, social security and pensions | 62 | €15,837,151 | €16,916,417 | +€1.1m | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,541,766 | €3,561,007 | +€19,241 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €229,448 | €183,966 | -€45,482 | -19.8% |
| Other operating charges | 640/8 | €655,783 | €394,098 | -€261,686 | -39.9% |
| Operating profit (loss) | 9901 | -€1,014,600 | -€48,579 | +€966,022 | +95.2% |
| Financial income | 75/76B | €72,247 | €56,358 | -€15,888 | -22.0% |
| Recurring financial income | 75 | €72,247 | €56,358 | -€15,888 | -22.0% |
| Other financial income | 752/9 | €72,247 | €56,358 | -€15,888 | -22.0% |
| Financial charges | 65/66B | €684,375 | €494,676 | -€189,698 | -27.7% |
| Recurring financial charges | 65 | €684,375 | €494,676 | -€189,698 | -27.7% |
| Debt charges | 650 | €679,121 | €489,078 | -€190,042 | -28.0% |
| Other financial charges | 652/9 | €5,254 | €5,598 | +€344 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,626,729 | -€486,897 | +€1.1m | +70.1% |
| Income taxes | 67/77 | €3,544 | €3,739 | +€195 | +5.5% |
| Taxes | 670/3 | €3,544 | €3,739 | +€195 | +5.5% |
| Profit (loss) for the period | 9904 | -€1,630,273 | -€490,635 | +€1.1m | +69.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,630,273 | -€490,635 | +€1.1m | +69.9% |
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 5 October 2026 via checked.be.