AQUAPLUS: what changed
Two fiscal 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.
AQUAPLUS
Largest movements
- Current investments +€1.0m
up €1.0m (+40.0%), from €2.5m to €3.5m
- Receivables within one year +€254,454
up €254,454 (+24.6%), from €1.0m to €1.3m
of which Trade receivables: +€347,389
- Financial fixed assets -€199,530
down €199,530 (-49.9%), from €400,000 to €200,470
- Cash +€164,741
up €164,741 (+27.4%), from €601,695 to €766,435
mainly Trade debts (+€634,323) and Net result for the year (+€265,940)
- Stocks and contracts -€151,400
down €151,400 (-14.1%), from €1.1m to €926,145
- Trade debts +€634,323
up €634,323 (+105.6%), from €600,773 to €1.2m
- Profit (loss) carried forward +€252,643
up €252,643 (+38.0%), from €665,673 to €918,317
- Advances received +€201,377
up €201,377 (+15.5%), from €1.3m to €1.5m
- Provisions +€87,920
new in 2025: €87,920
- Gross operating margin -€103,389
down €103,389 (-32.6%), from €316,830 to €213,441
- Financial income +€99,116
up €99,116 (+137.6%), from €72,035 to €171,150
- Provisions +€87,920
new in 2025: €87,920
- Taxes -€64,889
down €64,889, from €21,610 to -€43,279
- Depreciation -€10,171
down €10,171 (-13.2%), from €77,120 to €66,949
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.
Cash bridge derived
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 | €5,727,640 | €6,918,111 | +€1.2m | +20.8% |
| Fixed assets | 21/28 | €504,650 | €434,403 | -€70,247 | -13.9% |
| Tangible fixed assets | 22/27 | €104,650 | €233,933 | +€129,283 | +123.5% |
| Plant, machinery and equipment | 23 | €104,650 | €233,933 | +€129,283 | +123.5% |
| Financial fixed assets | 28 | €400,000 | €200,470 | -€199,530 | -49.9% |
| Current assets | 29/58 | €5,222,990 | €6,483,708 | +€1.3m | +24.1% |
| Stocks and contracts in progress | 3 | €1,077,545 | €926,145 | -€151,400 | -14.1% |
| Contracts in progress | 37 | €1,077,545 | €926,145 | -€151,400 | -14.1% |
| Amounts receivable within one year | 40/41 | €1,035,848 | €1,290,302 | +€254,454 | +24.6% |
| Trade receivables | 40 | €858,098 | €1,205,487 | +€347,389 | +40.5% |
| Other amounts receivable | 41 | €177,750 | €84,815 | -€92,935 | -52.3% |
| Current investments | 50/53 | €2,500,000 | €3,500,000 | +€1.0m | +40.0% |
| Cash at bank and in hand | 54/58 | €601,695 | €766,435 | +€164,741 | +27.4% |
| Deferred charges and accrued income | 490/1 | €7,902 | €826 | -€7,076 | -89.5% |
| Total equity and liabilities | 10/49 | €5,727,640 | €6,918,111 | +€1.2m | +20.8% |
| Equity | 10/15 | €3,816,186 | €4,082,126 | +€265,940 | +7.0% |
| Contributions | 10/11 | €3,100,020 | €3,100,020 | = | 0.0% |
| Capital | 10 | €3,100,020 | €3,100,020 | = | 0.0% |
| Issued capital | 100 | €3,600,015 | €3,600,015 | = | 0.0% |
| Uncalled capital | 101 | €499,995 | €499,995 | = | 0.0% |
| Reserves | 13 | €50,493 | €63,790 | +€13,297 | +26.3% |
| Non-distributable reserves | 130/1 | €39,632 | €52,929 | +€13,297 | +33.6% |
| Legal reserve | 130 | €39,632 | €52,929 | +€13,297 | +33.6% |
| Distributable reserves | 133 | €10,860 | €10,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €665,673 | €918,317 | +€252,643 | +38.0% |
| Provisions and deferred taxes | 16 | - | €87,920 | +€87,920 | |
| Provisions for liabilities and charges | 160/5 | - | €87,920 | +€87,920 | |
| Other liabilities and charges | 164/5 | - | €87,920 | +€87,920 | |
| Amounts payable | 17/49 | €1,911,454 | €2,748,064 | +€836,610 | +43.8% |
| Amounts payable within one year | 42/48 | €1,911,454 | €2,748,064 | +€836,610 | +43.8% |
| Trade debts | 44 | €600,773 | €1,235,095 | +€634,323 | +105.6% |
| Suppliers | 440/4 | €600,773 | €1,235,095 | +€634,323 | +105.6% |
| Advances received on contracts in progress | 46 | €1,298,694 | €1,500,071 | +€201,377 | +15.5% |
| Taxes, remuneration and social security | 45 | €3,086 | - | -€3,086 | |
| Taxes | 450/3 | €3,086 | - | -€3,086 | |
| Other amounts payable | 47/48 | €8,902 | €12,898 | +€3,996 | +44.9% |
| Non-recurring operating income | 76A | - | €14,773 | +€14,773 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,120 | €66,949 | -€10,171 | -13.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €87,920 | +€87,920 | |
| Other operating charges | 640/8 | €9 | €120 | +€111 | +1233.3% |
| Gross operating margin | 9900 | €316,830 | €213,441 | -€103,389 | -32.6% |
| Operating profit (loss) | 9901 | €239,700 | €58,452 | -€181,249 | -75.6% |
| Financial income | 75/76B | €72,035 | €171,150 | +€99,116 | +137.6% |
| Recurring financial income | 75 | €72,035 | €171,150 | +€99,116 | +137.6% |
| Financial charges | 65/66B | €612 | €6,940 | +€6,328 | +1033.4% |
| Recurring financial charges | 65 | €612 | €6,940 | +€6,328 | +1033.4% |
| Profit (loss) for the period before taxes | 9903 | €311,123 | €222,662 | -€88,461 | -28.4% |
| Income taxes | 67/77 | €21,610 | -€43,279 | -€64,889 | |
| Profit (loss) for the period | 9904 | €289,513 | €265,940 | -€23,573 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €289,513 | €265,940 | -€23,573 | -8.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.