AQUADVIES: 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.
AQUADVIES
Largest movements
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€18,072
up €18,072 (+75.9%), from €23,812 to €41,884
of which Other amounts receivable: +€17,603
- Cash +€16,736
up €16,736 (+29.2%), from €57,258 to €73,994
mainly Net result for the year (+€89,491) and Current investments (+€50,000)
- Tangible fixed assets +€9,073
up €9,073 (+164%), from €5,523 to €14,597
of which Other tangible fixed assets: +€13,801
- Reserves +€4,491
up €4,491 (+59.2%), from €7,592 to €12,083
- Current portion of long-term debt -€3,950
down €3,950 (-58.3%), from €6,772 to €2,822
- Other debts -€3,306
down €3,306 (-4.4%), from €75,556 to €72,250
- Debts after one year -€2,822
no longer reported in 2025 (was €2,822)
- Tax, wage and social debts -€2,513
down €2,513 (-10.9%), from €23,026 to €20,513
- Gross operating margin +€20,208
up €20,208 (+19.2%), from €105,484 to €125,692
- Depreciation -€10,513
down €10,513 (-58.4%), from €18,000 to €7,487
- Taxes +€4,583
up €4,583 (+23.3%), from €19,706 to €24,289
- Financial income -€2,234
down €2,234 (-85.2%), from €2,622 to €388
- Financial charges +€2,049
up €2,049 (+193%), from €1,060 to €3,109
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 | €138,483 | €132,005 | -€6,479 | -4.7% |
| Fixed assets | 21/28 | €5,523 | €14,597 | +€9,073 | +164% |
| Tangible fixed assets | 22/27 | €5,523 | €14,597 | +€9,073 | +164% |
| Land and buildings | 22 | €863 | €506 | -€357 | -41.4% |
| Furniture and vehicles | 24 | €703 | €290 | -€413 | -58.8% |
| Leasing and similar rights | 25 | €3,958 | - | -€3,958 | |
| Other tangible fixed assets | 26 | - | €13,801 | +€13,801 | |
| Current assets | 29/58 | €132,960 | €117,408 | -€15,552 | -11.7% |
| Amounts receivable within one year | 40/41 | €23,812 | €41,884 | +€18,072 | +75.9% |
| Trade receivables | 40 | €23,518 | €23,987 | +€469 | +2.0% |
| Other amounts receivable | 41 | €294 | €17,897 | +€17,603 | +5,986% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €57,258 | €73,994 | +€16,736 | +29.2% |
| Deferred charges and accrued income | 490/1 | €1,890 | €1,530 | -€360 | -19.1% |
| Total equity and liabilities | 10/49 | €138,483 | €132,005 | -€6,479 | -4.7% |
| Equity | 10/15 | €28,052 | €32,543 | +€4,491 | +16.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €7,592 | €12,083 | +€4,491 | +59.2% |
| Distributable reserves | 133 | €7,592 | €12,083 | +€4,491 | +59.2% |
| Amounts payable | 17/49 | €110,431 | €99,461 | -€10,970 | -9.9% |
| Amounts payable after more than one year | 17 | €2,822 | - | -€2,822 | |
| Financial debts | 170/4 | €2,822 | - | -€2,822 | |
| Amounts payable within one year | 42/48 | €107,610 | €99,461 | -€8,148 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €6,772 | €2,822 | -€3,950 | -58.3% |
| Trade debts | 44 | €2,256 | €3,877 | +€1,620 | +71.8% |
| Suppliers | 440/4 | €2,256 | €3,877 | +€1,620 | +71.8% |
| Taxes, remuneration and social security | 45 | €23,026 | €20,513 | -€2,513 | -10.9% |
| Taxes | 450/3 | €23,026 | €20,513 | -€2,513 | -10.9% |
| Other amounts payable | 47/48 | €75,556 | €72,250 | -€3,306 | -4.4% |
| Non-recurring operating income | 76A | - | €16,132 | +€16,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,000 | €7,487 | -€10,513 | -58.4% |
| Other operating charges | 640/8 | €1,206 | €1,704 | +€497 | +41.2% |
| Gross operating margin | 9900 | €105,484 | €125,692 | +€20,208 | +19.2% |
| Operating profit (loss) | 9901 | €86,277 | €116,501 | +€30,224 | +35.0% |
| Financial income | 75/76B | €2,622 | €388 | -€2,234 | -85.2% |
| Recurring financial income | 75 | €2,622 | €388 | -€2,234 | -85.2% |
| Financial charges | 65/66B | €1,060 | €3,109 | +€2,049 | +193% |
| Recurring financial charges | 65 | €1,060 | €3,109 | +€2,049 | +193% |
| Profit (loss) for the period before taxes | 9903 | €87,839 | €113,781 | +€25,942 | +29.5% |
| Income taxes | 67/77 | €19,706 | €24,289 | +€4,583 | +23.3% |
| Profit (loss) for the period | 9904 | €68,133 | €89,491 | +€21,358 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,133 | €89,491 | +€21,358 | +31.3% |
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 26 October 2026 via checked.be.