IWAssur: 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.
IWAssur
Largest movements
- Intangible fixed assets +€628,092
up €628,092 (+281.4%), from €223,239 to €851,331
- Receivables within one year -€16,675
down €16,675 (-27.8%), from €59,983 to €43,308
of which Other amounts receivable: -€38,077
- Cash -€11,194
down €11,194 (-42.7%), from €26,215 to €15,021
mainly Investment in fixed assets (net) (-€735,478) and Trade debts (-€7,425)
- Debts after one year +€491,386
up €491,386 (+284.8%), from €172,557 to €663,943
- Current portion of long-term debt +€65,000
up €65,000 (+144.9%), from €44,864 to €109,864
- Other debts +€32,756
new in 2025: €32,756
- Accrued charges and deferred income +€19,773
new in 2025: €19,773
- Tax, wage and social debts +€9,221
up €9,221 (+45.6%), from €20,226 to €29,447
of which Remuneration and social security: +€14,967
- Gross operating margin +€79,656
up €79,656 (+78.1%), from €101,998 to €181,654
- Depreciation +€57,372
up €57,372 (+134.1%), from €42,788 to €100,159
- Staff costs +€44,214
up €44,214 (+174.3%), from €25,373 to €69,587
- Financial charges +€15,509
up €15,509 (+807.3%), from €1,921 to €17,430
- Taxes -€9,104
down €9,104 (-100.0%), from €9,104 to €0
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 | €314,173 | €919,375 | +€605,203 | +192.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €225,728 | €861,047 | +€635,319 | +281.5% |
| Intangible fixed assets | 21 | €223,239 | €851,331 | +€628,092 | +281.4% |
| Tangible fixed assets | 22/27 | €2,489 | €9,715 | +€7,227 | +290.4% |
| Plant, machinery and equipment | 23 | €2,489 | €9,715 | +€7,227 | +290.4% |
| Current assets | 29/58 | €88,445 | €58,329 | -€30,116 | -34.1% |
| Amounts receivable within one year | 40/41 | €59,983 | €43,308 | -€16,675 | -27.8% |
| Trade receivables | 40 | €21,739 | €43,141 | +€21,402 | +98.5% |
| Other amounts receivable | 41 | €38,244 | €167 | -€38,077 | -99.6% |
| Cash at bank and in hand | 54/58 | €26,215 | €15,021 | -€11,194 | -42.7% |
| Deferred charges and accrued income | 490/1 | €2,247 | €0 | -€2,247 | -100.0% |
| Total equity and liabilities | 10/49 | €314,173 | €919,375 | +€605,203 | +192.6% |
| Equity | 10/15 | €62,325 | €56,817 | -€5,509 | -8.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €59,325 | €53,817 | -€5,509 | -9.3% |
| Distributable reserves | 133 | €59,325 | €53,817 | -€5,509 | -9.3% |
| Amounts payable | 17/49 | €251,847 | €862,559 | +€610,712 | +242.5% |
| Amounts payable after more than one year | 17 | €172,557 | €663,943 | +€491,386 | +284.8% |
| Financial debts | 170/4 | €172,557 | €663,943 | +€491,386 | +284.8% |
| Amounts payable within one year | 42/48 | €79,290 | €178,843 | +€99,552 | +125.6% |
| Current portion of amounts payable after more than one year | 42 | €44,864 | €109,864 | +€65,000 | +144.9% |
| Trade debts | 44 | €14,200 | €6,776 | -€7,425 | -52.3% |
| Suppliers | 440/4 | €14,200 | €6,776 | -€7,425 | -52.3% |
| Taxes, remuneration and social security | 45 | €20,226 | €29,447 | +€9,221 | +45.6% |
| Taxes | 450/3 | €14,755 | €9,009 | -€5,746 | -38.9% |
| Remuneration and social security | 454/9 | €5,471 | €20,438 | +€14,967 | +273.6% |
| Other amounts payable | 47/48 | - | €32,756 | +€32,756 | |
| Accrued charges and deferred income | 492/3 | - | €19,773 | +€19,773 | |
| Remuneration, social security and pensions | 62 | €25,373 | €69,587 | +€44,214 | +174.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,788 | €100,159 | +€57,372 | +134.1% |
| Other operating charges | 640/8 | €554 | €357 | -€197 | -35.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €101,998 | €181,654 | +€79,656 | +78.1% |
| Operating profit (loss) | 9901 | €33,283 | €11,550 | -€21,733 | -65.3% |
| Financial income | 75/76B | €316 | €371 | +€56 | +17.6% |
| Recurring financial income | 75 | €316 | €371 | +€56 | +17.6% |
| Financial charges | 65/66B | €1,921 | €17,430 | +€15,509 | +807.3% |
| Recurring financial charges | 65 | €1,921 | €17,430 | +€15,509 | +807.3% |
| Profit (loss) for the period before taxes | 9903 | €31,677 | -€5,509 | -€37,186 | |
| Income taxes | 67/77 | €9,104 | €0 | -€9,104 | -100.0% |
| Profit (loss) for the period | 9904 | €22,573 | -€5,509 | -€28,082 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,573 | -€5,509 | -€28,082 |
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 7 October 2026 via checked.be.