AQUA-CHAUFFAGE SOLUTION: 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-CHAUFFAGE SOLUTION
Largest movements
- Cash -€110,995
down €110,995 (-35.8%), from €310,410 to €199,415
mainly Investment in fixed assets (net) (-€87,551) and Other debts (-€39,021)
- Tangible fixed assets +€70,261
up €70,261 (+133%), from €52,796 to €123,057
of which Other tangible fixed assets: +€73,838
- Receivables within one year -€11,515
down €11,515 (-38.6%), from €29,846 to €18,332
of which Trade receivables: -€10,092
- Other debts -€39,021
down €39,021 (-14.5%), from €269,590 to €230,569
- Profit (loss) carried forward -€10,364
down €10,364, from €0 to -€10,364
- Advances received +€8,749
up €8,749 (+15.9%), from €54,877 to €63,626
- Debts after one year -€4,423
down €4,423 (-33.1%), from €13,380 to €8,957
- Financial charges +€26,275
up €26,275 (+54.5%), from €48,203 to €74,478
- Taxes -€5,660
down €5,660 (-97.2%), from €5,823 to €163
- Gross operating margin -€5,058
down €5,058 (-5.9%), from €85,393 to €80,335
- Depreciation -€2,541
down €2,541 (-12.8%), from €19,831 to €17,290
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 | €398,582 | €346,099 | -€52,484 | -13.2% |
| Fixed assets | 21/28 | €52,976 | €123,237 | +€70,261 | +133% |
| Tangible fixed assets | 22/27 | €52,796 | €123,057 | +€70,261 | +133% |
| Furniture and vehicles | 24 | €52,709 | €49,131 | -€3,578 | -6.8% |
| Other tangible fixed assets | 26 | €88 | €73,926 | +€73,838 | +84,146% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €345,606 | €222,862 | -€122,744 | -35.5% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €29,846 | €18,332 | -€11,515 | -38.6% |
| Trade receivables | 40 | €24,806 | €14,714 | -€10,092 | -40.7% |
| Other amounts receivable | 41 | €5,040 | €3,618 | -€1,422 | -28.2% |
| Cash at bank and in hand | 54/58 | €310,410 | €199,415 | -€110,995 | -35.8% |
| Deferred charges and accrued income | 490/1 | €2,850 | €2,615 | -€235 | -8.2% |
| Total equity and liabilities | 10/49 | €398,582 | €346,099 | -€52,484 | -13.2% |
| Equity | 10/15 | €27,003 | €16,639 | -€10,364 | -38.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,403 | €8,403 | = | 0.0% |
| Distributable reserves | 133 | €8,403 | €8,403 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€10,364 | -€10,364 | |
| Amounts payable | 17/49 | €371,580 | €329,459 | -€42,120 | -11.3% |
| Amounts payable after more than one year | 17 | €13,380 | €8,957 | -€4,423 | -33.1% |
| Financial debts | 170/4 | €13,380 | €8,957 | -€4,423 | -33.1% |
| Amounts payable within one year | 42/48 | €345,288 | €308,450 | -€36,838 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €7,764 | €4,423 | -€3,341 | -43.0% |
| Trade debts | 44 | €8,972 | €5,542 | -€3,430 | -38.2% |
| Suppliers | 440/4 | €8,972 | €5,542 | -€3,430 | -38.2% |
| Advances received on contracts in progress | 46 | €54,877 | €63,626 | +€8,749 | +15.9% |
| Taxes, remuneration and social security | 45 | €4,085 | €4,290 | +€205 | +5.0% |
| Taxes | 450/3 | €1,153 | €1,359 | +€205 | +17.8% |
| Remuneration and social security | 454/9 | €2,931 | €2,931 | = | 0.0% |
| Other amounts payable | 47/48 | €269,590 | €230,569 | -€39,021 | -14.5% |
| Accrued charges and deferred income | 492/3 | €12,911 | €12,053 | -€859 | -6.6% |
| Remuneration, social security and pensions | 62 | -€340 | €0 | +€340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,831 | €17,290 | -€2,541 | -12.8% |
| Other operating charges | 640/8 | €1,223 | €947 | -€275 | -22.5% |
| Gross operating margin | 9900 | €85,393 | €80,335 | -€5,058 | -5.9% |
| Operating profit (loss) | 9901 | €64,679 | €62,098 | -€2,581 | -4.0% |
| Financial income | 75/76B | €2,225 | €2,180 | -€46 | -2.0% |
| Recurring financial income | 75 | €2,225 | €2,180 | -€46 | -2.0% |
| Financial charges | 65/66B | €48,203 | €74,478 | +€26,275 | +54.5% |
| Recurring financial charges | 65 | €48,203 | €74,478 | +€26,275 | +54.5% |
| Profit (loss) for the period before taxes | 9903 | €18,701 | -€10,200 | -€28,902 | |
| Income taxes | 67/77 | €5,823 | €163 | -€5,660 | -97.2% |
| Profit (loss) for the period | 9904 | €12,878 | -€10,364 | -€23,242 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,878 | -€10,364 | -€23,242 |
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 22 October 2026 via checked.be.