AQUA-AVISO: 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.
AQUA-AVISO
Largest movements
- Cash +€133,860
up €133,860 (+156%), from €85,764 to €219,624
mainly Net result for the year (+€61,340) and Receivables within one year (+€43,418)
- Receivables within one year -€43,418
down €43,418 (-99.1%), from €43,820 to €402
of which Trade receivables: -€42,880
- Tangible fixed assets -€11,667
down €11,667 (-29.5%), from €39,535 to €27,867
of which Furniture and vehicles: -€11,339
- Reserves +€60,507
up €60,507 (+49.7%), from €121,833 to €182,340
- Tax, wage and social debts +€14,913
up €14,913 (+66.2%), from €22,525 to €37,439
of which Taxes: +€10,615
- Other debts +€2,718
up €2,718 (+13.8%), from €19,747 to €22,465
- Gross operating margin +€38,247
up €38,247 (+38.8%), from €98,504 to €136,751
- Staff costs +€26,559
up €26,559 (+230%), from €11,573 to €38,132
- Taxes +€3,608
up €3,608 (+17.9%), from €20,171 to €23,779
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €170,889 | €249,756 | +€78,867 | +46.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €39,535 | €27,867 | -€11,667 | -29.5% |
| Tangible fixed assets | 22/27 | €39,535 | €27,867 | -€11,667 | -29.5% |
| Plant, machinery and equipment | 23 | €672 | €344 | -€328 | -48.9% |
| Furniture and vehicles | 24 | €38,862 | €27,524 | -€11,339 | -29.2% |
| Current assets | 29/58 | €131,354 | €221,888 | +€90,534 | +68.9% |
| Amounts receivable within one year | 40/41 | €43,820 | €402 | -€43,418 | -99.1% |
| Trade receivables | 40 | €42,880 | - | -€42,880 | |
| Other amounts receivable | 41 | €940 | €402 | -€538 | -57.2% |
| Cash at bank and in hand | 54/58 | €85,764 | €219,624 | +€133,860 | +156% |
| Deferred charges and accrued income | 490/1 | €1,770 | €1,862 | +€92 | +5.2% |
| Total equity and liabilities | 10/49 | €170,889 | €249,756 | +€78,867 | +46.2% |
| Equity | 10/15 | €125,833 | €186,340 | +€60,507 | +48.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €121,833 | €182,340 | +€60,507 | +49.7% |
| Distributable reserves | 133 | €121,833 | €182,340 | +€60,507 | +49.7% |
| Amounts payable | 17/49 | €45,056 | €63,415 | +€18,359 | +40.7% |
| Amounts payable within one year | 42/48 | €45,056 | €63,415 | +€18,359 | +40.7% |
| Trade debts | 44 | €2,784 | €3,512 | +€728 | +26.1% |
| Suppliers | 440/4 | €2,784 | €3,512 | +€728 | +26.1% |
| Taxes, remuneration and social security | 45 | €22,525 | €37,439 | +€14,913 | +66.2% |
| Taxes | 450/3 | €20,762 | €31,377 | +€10,615 | +51.1% |
| Remuneration and social security | 454/9 | €1,763 | €6,061 | +€4,298 | +244% |
| Other amounts payable | 47/48 | €19,747 | €22,465 | +€2,718 | +13.8% |
| Remuneration, social security and pensions | 62 | €11,573 | €38,132 | +€26,559 | +230% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,052 | €11,667 | -€385 | -3.2% |
| Other operating charges | 640/8 | €302 | €248 | -€54 | -17.9% |
| Gross operating margin | 9900 | €98,504 | €136,751 | +€38,247 | +38.8% |
| Operating profit (loss) | 9901 | €74,578 | €86,704 | +€12,126 | +16.3% |
| Financial charges | 65/66B | €2,036 | €1,585 | -€451 | -22.2% |
| Recurring financial charges | 65 | €2,036 | €1,585 | -€451 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €72,542 | €85,120 | +€12,578 | +17.3% |
| Income taxes | 67/77 | €20,171 | €23,779 | +€3,608 | +17.9% |
| Profit (loss) for the period | 9904 | €52,371 | €61,340 | +€8,970 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,371 | €61,340 | +€8,970 | +17.1% |
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 14 October 2026 via checked.be.