AL-WATOOL: what changed
Two financial 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.
What changed
AL-WATOOL
NACE 68.202, Real estate activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,229
2024 · €33,151-€23,922
Equity
-€581,792
2024 · -€591,021+€9,229
Cash
€30,729
2024 · €45,716-€14,986
Balance sheet total
€11.3m
2024 · €10.6m+€683,581
Largest movements
Assets
- Tangible fixed assets +€643,981
up €643,981 (+6.1%), from €10.6m to €11.2m
Equity and liabilities
- Debts after one year +€670,089
up €670,089 (+6.0%), from €11.2m to €11.9m
Income statement
- Gross operating margin -€13,850
down €13,850 (-21.0%), from €65,989 to €52,139
- Other operating charges +€9,824
up €9,824 (+143%), from €6,867 to €16,691
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.
Result 2024
€33,151
Gross operating margin
-€13,850
Depreciation
-€262
Other operating charges
-€9,824
Financial charges
+€14
Result 2025
€9,229
raises the resultlowers the result
Derived cash bridge
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.
From operations
-€13,222
Investment
-€671,889
Financing
+€670,125
Cash 2024
€45,716
From operations (derived)
-€13,222
Net result for the year
+€9,229
Depreciation
+€26,108
Stocks and contracts
-€46,057
Receivables within one year
-€6,729
Trade debts
+€2,369
Other debts
+€1,858
Investment (derived)
-€671,889
Investment in fixed assets (net)
-€671,889
Financing
+€670,125
Debts after one year
+€670,089
Short-term financial debts
+€36
Cash 2025
€30,729
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,598,562 | €11,282,143 | +€683,581 | +6.4% |
| Fixed assets | 21/28 | €10,552,846 | €11,198,627 | +€645,781 | +6.1% |
| Tangible fixed assets | 22/27 | €10,550,031 | €11,194,012 | +€643,981 | +6.1% |
| Land and buildings | 22 | €10,550,031 | €11,194,012 | +€643,981 | +6.1% |
| Financial fixed assets | 28 | €2,815 | €4,615 | +€1,800 | +63.9% |
| Current assets | 29/58 | €45,716 | €83,516 | +€37,800 | +82.7% |
| Stocks and contracts in progress | 3 | - | €46,057 | +€46,057 | |
| Stocks | 30/36 | - | €46,057 | +€46,057 | |
| Amounts receivable within one year | 40/41 | - | €6,729 | +€6,729 | |
| Trade receivables | 40 | - | €6,729 | +€6,729 | |
| Cash at bank and in hand | 54/58 | €45,716 | €30,729 | -€14,986 | -32.8% |
| Total equity and liabilities | 10/49 | €10,598,562 | €11,282,143 | +€683,581 | +6.4% |
| Equity | 10/15 | -€591,021 | -€581,792 | +€9,229 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €2,850,000 | €2,850,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,461,481 | -€3,452,252 | +€9,229 | +0.3% |
| Amounts payable | 17/49 | €11,189,583 | €11,863,935 | +€674,352 | +6.0% |
| Amounts payable after more than one year | 17 | €11,187,458 | €11,857,546 | +€670,089 | +6.0% |
| Financial debts | 170/4 | €11,187,458 | €11,857,546 | +€670,089 | +6.0% |
| Amounts payable within one year | 42/48 | €2,125 | €6,389 | +€4,263 | +201% |
| Financial debts | 43 | - | €36 | +€36 | |
| Credit institutions | 430/8 | - | €36 | +€36 | |
| Trade debts | 44 | - | €2,369 | +€2,369 | |
| Suppliers | 440/4 | - | €2,369 | +€2,369 | |
| Other amounts payable | 47/48 | €2,125 | €3,983 | +€1,858 | +87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,846 | €26,108 | +€262 | +1.0% |
| Other operating charges | 640/8 | €6,867 | €16,691 | +€9,824 | +143% |
| Gross operating margin | 9900 | €65,989 | €52,139 | -€13,850 | -21.0% |
| Operating profit (loss) | 9901 | €33,276 | €9,341 | -€23,936 | -71.9% |
| Financial charges | 65/66B | €125 | €111 | -€14 | -11.3% |
| Recurring financial charges | 65 | €125 | €111 | -€14 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €33,151 | €9,229 | -€23,922 | -72.2% |
| Profit (loss) for the period | 9904 | €33,151 | €9,229 | -€23,922 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,151 | €9,229 | -€23,922 | -72.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.