IWR: 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.
IWR
Largest movements
- Cash -€91,254
down €91,254 (-96.0%), from €95,041 to €3,787
mainly Receivables within one year (-€84,314) and Tax, wage and social debts (-€46,306)
- Receivables within one year +€84,314
up €84,314 (+20.5%), from €410,957 to €495,270
of which Trade receivables: +€223,925
- Tangible fixed assets +€12,954
up €12,954 (+241.0%), from €5,374 to €18,328
of which Furniture and vehicles: +€7,910
- Financial fixed assets +€7,360
up €7,360 (+1106.8%), from €665 to €8,025
- Reserves +€182,990
up €182,990 (+1225.1%), from €14,936 to €197,926
- Profit (loss) carried forward -€153,665
no longer reported in 2024 (was €153,665)
- Tax, wage and social debts -€46,306
down €46,306 (-53.5%), from €86,540 to €40,234
of which Taxes: -€50,254
- Trade debts +€33,655
up €33,655 (+14.0%), from €241,196 to €274,851
- Staff costs +€26,200
up €26,200 (+70.0%), from €37,417 to €63,617
- Gross operating margin +€14,389
up €14,389 (+14.1%), from €102,158 to €116,547
- Taxes -€3,476
down €3,476 (-16.8%), from €20,663 to €17,188
- Financial income +€2,306
up €2,306 (+699.9%), from €329 to €2,635
- Other operating charges +€2,078
up €2,078 (+131.1%), from €1,586 to €3,664
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,037 | €525,411 | +€13,373 | +2.6% |
| Fixed assets | 21/28 | €6,039 | €26,353 | +€20,314 | +336.4% |
| Tangible fixed assets | 22/27 | €5,374 | €18,328 | +€12,954 | +241.0% |
| Plant, machinery and equipment | 23 | €3,756 | €8,800 | +€5,044 | +134.3% |
| Furniture and vehicles | 24 | €1,618 | €9,529 | +€7,910 | +488.7% |
| Financial fixed assets | 28 | €665 | €8,025 | +€7,360 | +1106.8% |
| Current assets | 29/58 | €505,998 | €499,057 | -€6,941 | -1.4% |
| Amounts receivable within one year | 40/41 | €410,957 | €495,270 | +€84,314 | +20.5% |
| Trade receivables | 40 | €199,942 | €423,868 | +€223,925 | +112.0% |
| Other amounts receivable | 41 | €211,014 | €71,402 | -€139,612 | -66.2% |
| Cash at bank and in hand | 54/58 | €95,041 | €3,787 | -€91,254 | -96.0% |
| Total equity and liabilities | 10/49 | €512,037 | €525,411 | +€13,373 | +2.6% |
| Equity | 10/15 | €181,001 | €210,326 | +€29,325 | +16.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €14,936 | €197,926 | +€182,990 | +1225.1% |
| Distributable reserves | 133 | €14,936 | €197,926 | +€182,990 | +1225.1% |
| Profit (loss) carried forward | 14 | €153,665 | - | -€153,665 | |
| Amounts payable | 17/49 | €331,036 | €315,085 | -€15,951 | -4.8% |
| Amounts payable within one year | 42/48 | €327,736 | €315,085 | -€12,651 | -3.9% |
| Trade debts | 44 | €241,196 | €274,851 | +€33,655 | +14.0% |
| Suppliers | 440/4 | €241,196 | €274,851 | +€33,655 | +14.0% |
| Taxes, remuneration and social security | 45 | €86,540 | €40,234 | -€46,306 | -53.5% |
| Taxes | 450/3 | €84,035 | €33,782 | -€50,254 | -59.8% |
| Remuneration and social security | 454/9 | €2,505 | €6,452 | +€3,947 | +157.6% |
| Accrued charges and deferred income | 492/3 | €3,300 | - | -€3,300 | |
| Remuneration, social security and pensions | 62 | €37,417 | €63,617 | +€26,200 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,232 | €2,460 | +€1,228 | +99.6% |
| Other operating charges | 640/8 | €1,586 | €3,664 | +€2,078 | +131.1% |
| Gross operating margin | 9900 | €102,158 | €116,547 | +€14,389 | +14.1% |
| Operating profit (loss) | 9901 | €61,923 | €46,807 | -€15,117 | -24.4% |
| Financial income | 75/76B | €329 | €2,635 | +€2,306 | +699.9% |
| Recurring financial income | 75 | €329 | €2,635 | +€2,306 | +699.9% |
| Financial charges | 65/66B | €1,734 | €2,930 | +€1,196 | +69.0% |
| Recurring financial charges | 65 | €1,734 | €2,930 | +€1,196 | +69.0% |
| Profit (loss) for the period before taxes | 9903 | €60,519 | €46,512 | -€14,007 | -23.1% |
| Income taxes | 67/77 | €20,663 | €17,188 | -€3,476 | -16.8% |
| Profit (loss) for the period | 9904 | €39,856 | €29,325 | -€10,531 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,856 | €29,325 | -€10,531 | -26.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.