AQUACUR: 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.
AQUACUR
Largest movements
- Tangible fixed assets +€547,618
up €547,618 (+411%), from €133,399 to €681,017
of which Furniture and vehicles: +€547,182
- Cash +€47,906
up €47,906 (+1,337%), from €3,582 to €51,488
mainly Debts after one year (+€457,673) and Current portion of long-term debt (+€88,173)
- Financial fixed assets -€23,000
down €23,000 (-55.4%), from €41,486 to €18,486
- Debts after one year +€457,673
up €457,673 (+422%), from €108,526 to €566,198
- Current portion of long-term debt +€88,173
up €88,173 (+251%), from €35,113 to €123,286
- Reserves +€16,687
new in 2025: €16,687
- Tax, wage and social debts +€13,632
up €13,632 (+87.4%), from €15,589 to €29,221
of which Remuneration and social security: +€9,037
- Other debts -€11,858
down €11,858 (-44.6%), from €26,612 to €14,754
- Gross operating margin +€126,933
up €126,933 (+68.9%), from €184,264 to €311,197
- Staff costs +€92,670
up €92,670 (+70.7%), from €131,036 to €223,706
- Depreciation +€17,103
up €17,103 (+46.7%), from €36,629 to €53,732
- Other operating charges -€8,696
down €8,696 (-95.8%), from €9,081 to €384
- Taxes +€3,688
new in 2025: €3,688
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 | €364,848 | €939,291 | +€574,443 | +157% |
| Fixed assets | 21/28 | €176,474 | €700,692 | +€524,218 | +297% |
| Intangible fixed assets | 21 | €1,589 | €1,189 | -€400 | -25.2% |
| Tangible fixed assets | 22/27 | €133,399 | €681,017 | +€547,618 | +411% |
| Plant, machinery and equipment | 23 | €37,441 | €37,877 | +€436 | +1.2% |
| Furniture and vehicles | 24 | €95,958 | €643,139 | +€547,182 | +570% |
| Financial fixed assets | 28 | €41,486 | €18,486 | -€23,000 | -55.4% |
| Current assets | 29/58 | €188,374 | €238,599 | +€50,225 | +26.7% |
| Amounts receivable within one year | 40/41 | €170,627 | €169,733 | -€894 | -0.5% |
| Trade receivables | 40 | €168,359 | €162,260 | -€6,099 | -3.6% |
| Other amounts receivable | 41 | €2,268 | €7,473 | +€5,205 | +230% |
| Cash at bank and in hand | 54/58 | €3,582 | €51,488 | +€47,906 | +1,337% |
| Deferred charges and accrued income | 490/1 | €14,165 | €17,378 | +€3,213 | +22.7% |
| Total equity and liabilities | 10/49 | €364,848 | €939,291 | +€574,443 | +157% |
| Equity | 10/15 | €58,489 | €76,687 | +€18,198 | +31.1% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | - | €16,687 | +€16,687 | |
| Distributable reserves | 133 | - | €16,687 | +€16,687 | |
| Profit (loss) carried forward | 14 | -€1,511 | - | +€1,511 | |
| Amounts payable | 17/49 | €306,358 | €862,604 | +€556,245 | +182% |
| Amounts payable after more than one year | 17 | €108,526 | €566,198 | +€457,673 | +422% |
| Financial debts | 170/4 | €108,526 | €566,198 | +€457,673 | +422% |
| Amounts payable within one year | 42/48 | €196,824 | €295,509 | +€98,685 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €35,113 | €123,286 | +€88,173 | +251% |
| Trade debts | 44 | €119,510 | €128,249 | +€8,739 | +7.3% |
| Suppliers | 440/4 | €119,510 | €128,249 | +€8,739 | +7.3% |
| Taxes, remuneration and social security | 45 | €15,589 | €29,221 | +€13,632 | +87.4% |
| Taxes | 450/3 | €245 | €4,840 | +€4,595 | +1,877% |
| Remuneration and social security | 454/9 | €15,344 | €24,381 | +€9,037 | +58.9% |
| Other amounts payable | 47/48 | €26,612 | €14,754 | -€11,858 | -44.6% |
| Accrued charges and deferred income | 492/3 | €1,009 | €897 | -€112 | -11.1% |
| Non-recurring operating income | 76A | €194 | - | -€194 | |
| Remuneration, social security and pensions | 62 | €131,036 | €223,706 | +€92,670 | +70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,629 | €53,732 | +€17,103 | +46.7% |
| Other operating charges | 640/8 | €9,081 | €384 | -€8,696 | -95.8% |
| Gross operating margin | 9900 | €184,264 | €311,197 | +€126,933 | +68.9% |
| Operating profit (loss) | 9901 | €7,518 | €33,374 | +€25,857 | +344% |
| Financial income | 75/76B | €1 | €0 | -€0 | -51.9% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -51.9% |
| Financial charges | 65/66B | €9,029 | €11,489 | +€2,460 | +27.2% |
| Recurring financial charges | 65 | €9,029 | €11,489 | +€2,460 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,511 | €21,886 | +€23,396 | |
| Income taxes | 67/77 | - | €3,688 | +€3,688 | |
| Profit (loss) for the period | 9904 | -€1,511 | €18,198 | +€19,708 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,511 | €18,198 | +€19,708 |
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 18 October 2026 via checked.be.