Iwens: 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.
Iwens
Largest movements
- Tangible fixed assets -€14,596
down €14,596 (-70.8%), from €20,615 to €6,018
of which Plant, machinery and equipment: -€11,850
- Receivables within one year +€1,306
up €1,306 (+204.0%), from €640 to €1,946
of which Other amounts receivable: +€1,946
- Cash -€732
no longer reported in 2025 (was €732)
mainly Net result for the year (-€24,902) and Current portion of long-term debt (-€6,769)
- Profit (loss) carried forward -€24,902
down €24,902 (-34.4%), from -€72,324 to -€97,226
- Accrued charges and deferred income +€13,628
new in 2025: €13,628
- Current portion of long-term debt -€6,769
down €6,769 (-65.5%), from €10,338 to €3,569
- Other debts +€6,139
up €6,139 (+8.8%), from €69,936 to €76,076
- Trade debts +€4,353
up €4,353 (+853.7%), from €510 to €4,863
- Gross operating margin -€48,846
down €48,846, from €43,351 to -€5,494
- Depreciation -€34,922
down €34,922 (-68.0%), from €51,380 to €16,457
- Other operating charges -€546
no longer reported in 2025 (was €546)
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 | €22,221 | €8,011 | -€14,210 | -63.9% |
| Formation expenses | 20 | €234 | €47 | -€187 | -80.0% |
| Fixed assets | 21/28 | €20,615 | €6,018 | -€14,596 | -70.8% |
| Tangible fixed assets | 22/27 | €20,615 | €6,018 | -€14,596 | -70.8% |
| Land and buildings | 22 | - | €1,653 | +€1,653 | |
| Plant, machinery and equipment | 23 | €15,115 | €3,265 | -€11,850 | -78.4% |
| Furniture and vehicles | 24 | €5,500 | €1,100 | -€4,400 | -80.0% |
| Current assets | 29/58 | €1,372 | €1,946 | +€573 | +41.8% |
| Amounts receivable within one year | 40/41 | €640 | €1,946 | +€1,306 | +204.0% |
| Trade receivables | 40 | €640 | - | -€640 | |
| Other amounts receivable | 41 | - | €1,946 | +€1,946 | |
| Cash at bank and in hand | 54/58 | €732 | - | -€732 | |
| Total equity and liabilities | 10/49 | €22,221 | €8,011 | -€14,210 | -63.9% |
| Equity | 10/15 | -€69,324 | -€94,226 | -€24,902 | -35.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,324 | -€97,226 | -€24,902 | -34.4% |
| Amounts payable | 17/49 | €91,545 | €102,237 | +€10,692 | +11.7% |
| Amounts payable after more than one year | 17 | €7,671 | €4,102 | -€3,569 | -46.5% |
| Financial debts | 170/4 | €7,671 | €4,102 | -€3,569 | -46.5% |
| Amounts payable within one year | 42/48 | €83,874 | €84,507 | +€634 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €10,338 | €3,569 | -€6,769 | -65.5% |
| Trade debts | 44 | €510 | €4,863 | +€4,353 | +853.7% |
| Suppliers | 440/4 | €510 | €4,863 | +€4,353 | +853.7% |
| Taxes, remuneration and social security | 45 | €3,089 | - | -€3,089 | |
| Taxes | 450/3 | €3,089 | - | -€3,089 | |
| Other amounts payable | 47/48 | €69,936 | €76,076 | +€6,139 | +8.8% |
| Accrued charges and deferred income | 492/3 | - | €13,628 | +€13,628 | |
| Remuneration, social security and pensions | 62 | €336 | - | -€336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,380 | €16,457 | -€34,922 | -68.0% |
| Other operating charges | 640/8 | €546 | - | -€546 | |
| Gross operating margin | 9900 | €43,351 | -€5,494 | -€48,846 | |
| Operating profit (loss) | 9901 | -€8,910 | -€21,951 | -€13,041 | -146.4% |
| Financial income | 75/76B | €13 | €9 | -€4 | -28.4% |
| Recurring financial income | 75 | €13 | €9 | -€4 | -28.4% |
| Financial charges | 65/66B | €2,539 | €2,960 | +€421 | +16.6% |
| Recurring financial charges | 65 | €2,539 | €2,960 | +€421 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,436 | -€24,902 | -€13,467 | -117.8% |
| Profit (loss) for the period | 9904 | -€11,436 | -€24,902 | -€13,467 | -117.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,436 | -€24,902 | -€13,467 | -117.8% |
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 3 October 2026 via checked.be.