A L'EAU: what changed
A L'EAU
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Receivables within one year -€34,641
down €34,641 (-75.0%), from €46,211 to €11,571
of which Other amounts receivable: -€35,148
- Tangible fixed assets -€21,706
down €21,706 (-52.6%), from €41,289 to €19,583
of which Furniture and vehicles: -€21,549
- Cash -€19,489
down €19,489 (-24.9%), from €78,188 to €58,699
mainly Current investments (-€150,000) and Debts after one year (-€78,572)
- Reserves +€157,232
up €157,232 (+1,258%), from €12,500 to €169,732
of which Distributable reserves: +€157,232
- Debts after one year -€78,572
down €78,572 (-12.2%), from €645,730 to €567,157
- Other debts -€32,439
down €32,439 (-14.6%), from €222,843 to €190,404
- Tax, wage and social debts +€22,814
up €22,814 (+315%), from €7,235 to €30,049
of which Taxes: +€15,909
- Gross operating margin +€88,350
up €88,350 (+80.0%), from €110,495 to €198,845
- Financial income +€45,604
up €45,604 (+101%), from €45,000 to €90,604
- Staff costs +€32,883
up €32,883 (+273%), from €12,047 to €44,929
- Taxes +€26,013
up €26,013 (+187%), from €13,875 to €39,887
- Financial charges +€11,101
up €11,101 (+59.0%), from €18,826 to €29,927
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,290,689 | €1,366,648 | +€75,960 | +5.9% |
| Fixed assets | 21/28 | €1,166,289 | €1,144,583 | -€21,706 | -1.9% |
| Tangible fixed assets | 22/27 | €41,289 | €19,583 | -€21,706 | -52.6% |
| Plant, machinery and equipment | 23 | €157 | €0 | -€157 | -100% |
| Furniture and vehicles | 24 | €41,132 | €19,583 | -€21,549 | -52.4% |
| Financial fixed assets | 28 | €1,125,000 | €1,125,000 | = | 0.0% |
| Current assets | 29/58 | €124,400 | €222,065 | +€97,666 | +78.5% |
| Amounts receivable within one year | 40/41 | €46,211 | €11,571 | -€34,641 | -75.0% |
| Trade receivables | 40 | - | €507 | +€507 | |
| Other amounts receivable | 41 | €46,211 | €11,064 | -€35,148 | -76.1% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €78,188 | €58,699 | -€19,489 | -24.9% |
| Deferred charges and accrued income | 490/1 | - | €1,796 | +€1,796 | |
| Total equity and liabilities | 10/49 | €1,290,689 | €1,366,648 | +€75,960 | +5.9% |
| Equity | 10/15 | €315,705 | €472,937 | +€157,232 | +49.8% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €12,500 | €169,732 | +€157,232 | +1,258% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | - | €157,232 | +€157,232 | |
| Profit (loss) carried forward | 14 | €178,205 | €178,205 | = | 0.0% |
| Amounts payable | 17/49 | €974,984 | €893,711 | -€81,273 | -8.3% |
| Amounts payable after more than one year | 17 | €645,730 | €567,157 | -€78,572 | -12.2% |
| Financial debts | 170/4 | €645,730 | €567,157 | -€78,572 | -12.2% |
| Amounts payable within one year | 42/48 | €302,118 | €299,269 | -€2,849 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €71,994 | €78,572 | +€6,578 | +9.1% |
| Trade debts | 44 | €46 | €244 | +€198 | +433% |
| Suppliers | 440/4 | €46 | €244 | +€198 | +433% |
| Taxes, remuneration and social security | 45 | €7,235 | €30,049 | +€22,814 | +315% |
| Taxes | 450/3 | €1,282 | €17,192 | +€15,909 | +1,241% |
| Remuneration and social security | 454/9 | €5,953 | €12,857 | +€6,904 | +116% |
| Other amounts payable | 47/48 | €222,843 | €190,404 | -€32,439 | -14.6% |
| Accrued charges and deferred income | 492/3 | €27,136 | €27,285 | +€149 | +0.5% |
| Remuneration, social security and pensions | 62 | €12,047 | €44,929 | +€32,883 | +273% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,370 | €13,490 | -€880 | -6.1% |
| Other operating charges | 640/8 | €1,379 | €1,267 | -€112 | -8.1% |
| Non-recurring operating charges | 66A | - | €2,716 | +€2,716 | |
| Gross operating margin | 9900 | €110,495 | €198,845 | +€88,350 | +80.0% |
| Operating profit (loss) | 9901 | €82,700 | €136,443 | +€53,743 | +65.0% |
| Financial income | 75/76B | €45,000 | €90,604 | +€45,604 | +101% |
| Recurring financial income | 75 | €45,000 | €90,604 | +€45,604 | +101% |
| Financial charges | 65/66B | €18,826 | €29,927 | +€11,101 | +59.0% |
| Recurring financial charges | 65 | €18,826 | €29,927 | +€11,101 | +59.0% |
| Profit (loss) for the period before taxes | 9903 | €108,874 | €197,120 | +€88,245 | +81.1% |
| Income taxes | 67/77 | €13,875 | €39,887 | +€26,013 | +187% |
| Profit (loss) for the period | 9904 | €95,000 | €157,232 | +€62,233 | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €95,000 | €157,232 | +€62,233 | +65.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.