WATERLOO (0437.793.662): financials and annual accounts

WATERLOO

Brussels ·KBO/BCE: BE 0437.793.662

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	3.1m	3.5m	3.5m	3.3m	2.1m	2.0m	3.2m	3.1m	3.0m	2.1m	3.2m	3.2m	3.2m	2.9m	2.8m	971,476	991,182	1.0m	1.1m	1.2m
`21/28`	2.9m	3.2m	3.3m	2.8m	1.8m	698,422	545,453	502,065	518,436	528,062	539,393	564,871	614,545	658,079	709,584	756,849	800,121	844,563	881,703	914,024
`22/27`	2.9m	3.2m	3.3m	2.8m	1.8m	698,331	545,362	501,973	518,436	527,905	539,236	564,714	614,389	657,922	709,428	756,692	799,965	844,406	881,546	913,867
`22`	274,445	281,466	288,488	295,510	311,393	329,049	346,705	364,362	382,018	399,674	417,330	434,986	452,643	470,299	487,955	505,611	523,267	540,924	558,580	576,236
`23`	2.6m	3.0m	3.0m	2.5m	1.5m	344,518	175,366	106,557	135,479	125,048	116,478	122,055	156,523	186,520	219,266	248,241	272,846	303,354	321,935	326,431
`24`	1,982	3,049	6,194	4,711	14,737	24,763	23,291	31,055	939	3,183	5,428	7,672	5,223	1,103	2,207	2,840	3,851	128	1,032	11,201
`28`	91	91	91	91	91	91	91	91	-	157	157	157	157	157	157	157	157	157	157	157
`29/58`	202,452	211,523	176,074	493,104	254,143	1.3m	2.6m	2.6m	2.5m	1.5m	2.7m	2.6m	2.6m	2.3m	2.1m	214,626	191,061	179,513	222,447	292,094
`40/41`	158,764	149,699	142,287	130,358	242,484	1.2m	2.4m	2.4m	2.4m	1.4m	2.1m	2.5m	2.5m	2.2m	1.7m	48,072	39,498	36,067	35,332	6,068
`40`	-	-	3,525	-	-	-	-	-	-	-	1,214	2,908	-	-	-	-	-	-	-	5,266
`41`	158,764	149,699	138,762	130,358	242,484	1.2m	2.4m	2.4m	2.4m	1.4m	2.1m	2.5m	2.5m	2.2m	1.7m	48,072	39,498	36,067	35,332	801
`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	105,549	123,294	126,546	126,810	167,595	242,492
`54/58`	41,200	60,051	32,463	360,826	10,353	53,355	169,073	63,550	47,312	74,568	567,415	46,644	17,772	42,693	230,381	40,170	22,738	14,921	16,771	38,285
`490/1`	2,489	1,774	1,324	1,919	1,306	8,633	70,943	139,248	88,335	39,340	28,351	36,644	46,007	2,930	9,185	3,090	2,278	1,716	2,750	5,249
Balance sheet: equity and liabilities
`10/49`	3.1m	3.5m	3.5m	3.3m	2.1m	2.0m	3.2m	3.1m	3.0m	2.1m	3.2m	3.2m	3.2m	2.9m	2.8m	971,476	991,182	1.0m	1.1m	1.2m
`10/15`	-1.6m	-1.2m	-721,509	-222,491	284,149	641,353	669,671	630,086	586,277	513,589	470,610	351,737	276,252	214,334	195,357	184,734	162,479	157,377	200,775	186,233
`10/11`	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729
`10`	443,729	443,729	443,729	443,729	443,729	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`100`	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729	443,729
`13`	222,373	222,373	222,373	222,373	222,373	222,373	222,373	182,873	139,373	69,373	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916
`130/1`	44,373	44,373	44,373	44,373	44,373	44,373	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`130`	44,373	44,373	44,373	44,373	44,373	44,373	44,373	44,373	44,373	44,373	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916
`133`	178,000	178,000	178,000	178,000	178,000	178,000	178,000	138,500	95,000	25,000	-	-	-	-	-	-	-	-	-	-
`14`	-2.3m	-1.9m	-1.4m	-888,594	-381,954	-24,749	3,568	3,483	3,175	487	16,965	-101,908	-177,393	-239,311	-258,289	-268,911	-291,166	-296,268	-252,870	-267,412
`17/49`	4.7m	4.6m	4.2m	3.5m	1.8m	1.4m	2.5m	2.5m	2.4m	1.5m	2.7m	2.8m	2.9m	2.7m	2.6m	786,741	828,703	866,699	903,375	1.0m
`17`	4.5m	4.4m	3.9m	3.1m	1.5m	195,000	85,000	25,000	37,500	65,108	145,589	229,200	293,703	354,343	415,377	678,216	737,290	759,822	774,234	810,213
`170/4`	-	-	-	-	-	-	-	-	-	12,608	85,589	154,200	218,703	279,343	340,377	403,216	462,290	517,822	532,234	575,213
`178/9`	4.5m	4.4m	3.9m	3.1m	1.5m	195,000	85,000	25,000	37,500	52,500	60,000	75,000	75,000	75,000	75,000	275,000	275,000	242,000	242,000	235,000
`42/48`	227,718	290,444	302,555	405,329	250,063	1.2m	2.4m	2.4m	2.4m	1.5m	2.6m	2.6m	2.6m	2.3m	2.1m	87,225	70,113	98,058	117,740	197,805
`42`	-	-	-	-	-	-	-	-	12,608	72,981	68,611	64,503	65,526	61,034	62,840	59,073	55,532	52,203	48,019	58,774
`43`	44	396	-	2	103,426	1.1m	2.3m	2.3m	2.3m	1.4m	2.5m	2.5m	2.5m	2.2m	2.0m	-	-	-	-	71,000
`430/8`	44	396	-	2	103,426	1.1m	2.3m	2.3m	2.3m	1.4m	2.5m	2.5m	2.5m	2.2m	2.0m	-	-	-	-	71,000
`44`	12,333	12,333	2,224	48,853	54,785	50,519	31,334	51,479	7,118	1,576	1,213	840	6,245	-	3,244	789	3,209	2,579	7,453	3,003
`440/4`	12,333	12,333	2,224	48,853	54,785	50,519	31,334	51,479	7,118	1,576	1,213	840	6,245	-	3,244	789	3,209	2,579	7,453	3,003
`45`	6,440	2,981	2,947	2,896	-	-	11,569	35,767	37,630	12,882	-	-	-	292	469	-	-	-	152	-
`450/3`	-	-	-	-	-	-	10,083	35,767	37,630	12,882	-	-	-	292	469	-	-	-	152	-
`454/9`	6,440	2,981	2,947	2,896	-	-	1,486	-	-	-	-	-	-	-	-	-	-	-	-	-
`47/48`	208,901	274,735	297,384	353,578	91,852	851	31,800	1,525	529	403	494	3,823	22,100	39,447	36,767	27,363	11,372	43,275	62,116	65,028
`492/3`	1,735	-	-	-	-	7,253	6,361	5,439	12,029	6,222	12,639	9,473	8,147	17,715	5,250	21,300	21,300	8,819	11,402	11,867
Income statement
`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	834	-
`9900`	181,007	92,818	7,380	-93,118	-66,393	68,549	150,095	126,483	188,088	139,906	185,320	177,252	141,812	127,648	126,838	142,888	120,188	106,440	114,483	100,877
`62`	32,624	163	160	146	140	158	19,888	-	-	-	-	-	-	-	-	-	-	-	-	-
`630`	558,036	545,623	493,365	411,096	251,731	85,178	78,689	69,755	67,653	68,716	59,103	83,205	78,156	71,403	69,413	67,261	64,863	63,591	63,140	65,816
`640/8`	24,273	17,919	17,180	14,468	15,865	15,208	16,372	13,664	14,529	14,416	13,607	13,710	14,362	11,870	12,338	12,271	11,930	17,577	11,529	13,751
`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,099	-
`9901`	-433,925	-470,887	-503,325	-518,827	-334,130	-31,994	35,145	43,063	105,906	56,775	112,610	80,338	49,294	44,376	45,087	63,356	43,395	25,272	39,814	21,310
`75/76B`	5,435	7,046	6,495	15,353	2,918	44,322	64,051	65,477	50,530	48,912	77,359	81,177	78,927	55,822	41,705	13,827	7,454	5,947	24,415	24,329
`75`	5,435	7,046	6,495	15,353	2,918	44,322	64,051	65,477	50,530	48,912	77,359	81,177	78,927	55,822	41,705	13,827	7,454	5,947	24,415	24,329
`65/66B`	914	2,607	2,187	3,166	25,992	40,645	49,528	48,964	46,118	49,830	71,091	86,028	66,303	81,220	76,170	54,927	45,747	74,617	45,423	50,381
`65`	914	2,607	2,187	3,166	25,992	40,645	49,528	48,964	46,118	49,830	71,091	86,028	66,303	81,220	76,170	54,927	45,747	74,617	45,423	50,381
`9903`	-429,403	-466,448	-499,018	-506,640	-357,204	-28,317	49,668	59,576	110,318	55,857	118,878	75,487	61,918	18,977	10,622	22,255	5,102	-43,398	14,541	-4,741
`67/77`	-	-	-	-	-	-	10,083	15,767	37,630	12,878	4	2	-0	-	-	-	-	-	-	-
`9904`	-429,403	-466,448	-499,018	-506,640	-357,204	-28,317	39,585	43,809	72,688	42,979	118,874	75,485	61,918	18,977	10,622	22,255	5,102	-43,398	14,541	-4,741
`9905`	-429,403	-466,448	-499,018	-506,640	-357,204	-28,317	39,585	43,809	72,688	42,979	118,874	75,485	61,918	18,977	10,622	22,255	5,102	-43,398	14,541	-4,741
Appropriation of the result
`9906`	-2.3m	-1.9m	-1.4m	-888,594	-381,954	-24,749	43,068	46,983	73,175	59,944	16,965	-101,908	-177,393	-239,311	-258,289	-268,911	-291,166	-296,268	-252,870	-267,412
`14P`	-1.9m	-1.4m	-888,594	-381,954	-24,749	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`691/2`	-	-	-	-	-	-	39,500	43,500	70,000	59,457	-	-	-	-	-	-	-	-	-	-
`6920`	-	-	-	-	-	-	-	-	-	34,457	-	-	-	-	-	-	-	-	-	-
`6921`	-	-	-	-	-	-	39,500	43,500	70,000	25,000	-	-	-	-	-	-	-	-	-	-
Social balance sheet
`9087`	1	-	-	-	-	-	0.6	-	-	-	-	-	-	-	-	-	-	-	-	-
Hours worked`1013`	1,391	-	-	-	-	-	1,284	-	-	-	-	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	19-08-2026	2026-00414150	PDF
31-12-2024	micro format	28-08-2025	2025-00466026	PDF
31-12-2023	micro format	22-08-2024	2024-00365576	PDF
31-12-2022	micro format	29-09-2023	2023-00465532	PDF
31-12-2021	micro format	30-09-2022	2022-20448213	PDF
31-12-2020	micro format	31-08-2021	2021-61100198	PDF
31-12-2019	micro format	16-09-2020	2020-53600201	PDF
31-12-2018	micro format	14-08-2019	2019-46400578	PDF
31-12-2017	micro format	20-07-2018	2018-35900142	PDF
31-12-2016	micro format	18-07-2017	2017-33700076	PDF
31-12-2015	full format	30-08-2016	2016-53000283	PDF
31-12-2014	full format	30-09-2015	2015-62300299	PDF
31-12-2013	full format	19-08-2014	2014-43600574	PDF
31-12-2012	full format	30-09-2013	2013-60400150	PDF
31-12-2011	full format	05-11-2012	2012-63300084	PDF
31-12-2010	full format	30-09-2011	2011-56700040	PDF
31-12-2009	full format	31-08-2010	2010-51800108	PDF
31-12-2008	full format	27-08-2009	2009-68100019	PDF
31-12-2007	full format	15-07-2008	2008-41800316	PDF
31-12-2006	full format	30-08-2007	2007-67900085	PDF
31-12-2005	full format	31-10-2006	2006-86602886	PDF
31-12-2004	full format	28-09-2005	2005-73802006	PDF
31-12-2003	full format	04-10-2004	2004-70500017	PDF
31-12-2002	full format	31-07-2003	2003-56503346	PDF
31-12-2001	full format	04-03-2003	2003-06201814	PDF
31-12-2000	full format	04-10-2001	2001-61802373	PDF
31-12-1999	full format	20-10-2000	2000-66702145	PDF
31-12-1998	full format	10-11-1999	1999-58201639	PDF
31-12-1997	full format	12-10-1998	1998-52403613	PDF
31-12-1996	full format	21-10-1997	1997-49804481	PDF
31-12-1995	full format	02-10-1996	1996-46501078	PDF
31-12-1994	full format	09-10-1995	1995-53200952	PDF
31-12-1993	full format	11-10-1994	1994-43501945	PDF
31-12-1992	full format	02-11-1993	1993-41803734	PDF
31-12-1991	full format	02-12-1992	1992-39601048	PDF
31-12-1990	full format	20-11-1991	1991-30802505	PDF
31-12-1989	full format	12-10-1990	1990-25902589	PDF

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
124,111	74,736	-9,960	-107,731	-82,399	53,183	113,835	112,818	173,559	125,491	171,713	163,542	127,450	115,779	114,500	130,617	108,258	88,863	102,954	87,126
128,632	79,175	-5,653	-95,544	-105,473	56,860	118,274	113,564	140,341	111,694	177,977	158,689	140,074	90,380	80,036	89,516	69,965	20,194	77,681	61,075
180,785	503,804	988,116	1.4m	1.3m	238,146	122,078	53,384	58,184	57,384	33,626	33,530	34,622	19,898	22,148	23,989	20,421	26,451	40,084	18,964
-18,851	27,588	-328,363	350,473	-43,002	-115,718	105,523	16,238	-27,257	-492,847	520,771	28,872	-24,920	-187,689	190,211	17,431	7,817	-1,849	-21,514	-
-25,266	-78,921	-126,481	87,774	4,080	145,183	215,578	158,460	117,370	56,857	89,446	25,540	-36,444	-71,687	-93,601	127,401	120,947	81,455	104,708	94,290
-52.7%	-34.4%	-20.8%	-6.8%	13.9%	32.1%	21.1%	20.4%	19.4%	25.0%	14.7%	11.1%	8.7%	7.3%	7.1%	19.0%	16.4%	15.4%	18.2%	15.4%
0.89	0.73	0.58	1.22	1.02	1.13	1.09	1.07	1.05	1.04	1.03	1.01	0.99	0.97	0.96	2.46	2.73	1.83	1.89	1.48
-	-	-	-	6.22	2.11	3.73	3.89	4.16	3.00	5.80	7.98	10.48	12.61	13.15	4.26	5.10	5.51	4.50	5.48
-	-	-	-	-125.7%	-4.4%	5.9%	7.0%	12.4%	8.4%	25.3%	21.5%	22.4%	8.9%	5.4%	12.0%	3.1%	-27.6%	7.2%	-2.5%
-14.0%	-13.5%	-14.4%	-15.4%	-17.4%	-1.4%	1.2%	1.4%	2.4%	2.1%	3.7%	2.4%	2.0%	0.7%	0.4%	2.3%	0.5%	-4.2%	1.3%	-0.4%
over 100	28.67	-4.55	-34.02	-3.17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025
Employees at the balance-sheet date	1
part-time	1
	0.8
On a permanent contract	1
Joined	1
Left	1

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€180,785	€503,804	€988,116	€1.4m	€1.3m
	€558,036	€545,623	€493,365	€411,096	€251,731

WATERLOO

Annual accounts 2025

Balance sheet

in €m

in euro

Position in the sector

-52.7%

0.89

-14.0%

Staff

€32,624

level

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on WATERLOO

Next steps

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency-52.7%

Current ratio0.89

Return on assets-14.0%

Staff

Staff cost per FTE€32,624

Joined and leftlevel

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on WATERLOO

Next steps

in €m

in euro

-52.7%

0.89

-14.0%

€32,624

level