AQUARELLA: what changed
What changed
AQUARELLA
NACE 77.226, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€469,177
2024 · €555,071-€85,894
Equity
€1.4m
2024 · €1.1m+€289,177
Cash
€404,598
2024 · €356,865+€47,734
Balance sheet total
€3.0m
2024 · €2.8m+€241,888
Largest movements
Assets
- Tangible fixed assets +€208,890
up €208,890 (+30.8%), from €677,419 to €886,308
of which Plant, machinery and equipment: +€178,733
- Cash +€47,734
up €47,734 (+13.4%), from €356,865 to €404,598
mainly Net result for the year (+€469,177) and Depreciation (+€187,481)
- Stocks and contracts -€31,801
down €31,801 (-3.8%), from €845,523 to €813,722
Equity and liabilities
- Reserves +€289,177
up €289,177 (+27.6%), from €1.0m to €1.3m
of which Distributable reserves: +€183,927
- Debts after one year -€105,260
down €105,260 (-15.9%), from €661,104 to €555,844
- Trade debts +€45,913
up €45,913 (+19.7%), from €232,651 to €278,564
Income statement
- Staff costs +€105,084
up €105,084 (+6.0%), from €1.8m to €1.9m
- Depreciation +€37,064
up €37,064 (+24.6%), from €150,418 to €187,481
- Gross operating margin +€35,686
up €35,686 (+1.4%), from €2.6m to €2.7m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€555,071
Gross operating margin
+€35,686
Staff costs
-€105,084
Depreciation
-€37,064
Other operating charges
+€4,691
Financial income
+€470
Financial charges
-€2,649
Taxes
+€18,055
Result 2025
€469,177
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€724,980
Investment
-€406,693
Financing
-€270,552
Cash 2024
€356,865
From operations (derived)
+€724,980
Net result for the year
+€469,177
Depreciation
+€187,481
Stocks and contracts
+€31,801
Receivables within one year
-€7,526
Deferred charges and accrued income
+€782
Trade debts
+€45,913
Tax, wage and social debts
-€7,521
Other debts
+€2,800
Accrued charges and deferred income
+€2,071
Investment (derived)
-€406,693
Investment in fixed assets (net)
-€406,693
Financing
-€270,552
Debts after one year
-€105,260
Current portion of long-term debt
+€14,582
Short-term financial debts
+€126
Contributions, distributions and other
-€180,000
Cash 2025
€404,598
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,784,251 | €3,026,138 | +€241,888 | +8.7% |
| Fixed assets | 21/28 | €727,225 | €946,437 | +€219,212 | +30.1% |
| Intangible fixed assets | 21 | €49,387 | €59,709 | +€10,322 | +20.9% |
| Tangible fixed assets | 22/27 | €677,419 | €886,308 | +€208,890 | +30.8% |
| Land and buildings | 22 | €275,752 | €249,099 | -€26,653 | -9.7% |
| Plant, machinery and equipment | 23 | €401,666 | €580,399 | +€178,733 | +44.5% |
| Assets under construction and advance payments | 27 | - | €56,810 | +€56,810 | |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €2,057,025 | €2,079,701 | +€22,676 | +1.1% |
| Stocks and contracts in progress | 3 | €845,523 | €813,722 | -€31,801 | -3.8% |
| Stocks | 30/36 | €845,523 | €813,722 | -€31,801 | -3.8% |
| Amounts receivable within one year | 40/41 | €853,055 | €860,581 | +€7,526 | +0.9% |
| Trade receivables | 40 | €816,102 | €843,527 | +€27,425 | +3.4% |
| Other amounts receivable | 41 | €36,953 | €17,054 | -€19,900 | -53.9% |
| Cash at bank and in hand | 54/58 | €356,865 | €404,598 | +€47,734 | +13.4% |
| Deferred charges and accrued income | 490/1 | €1,582 | €800 | -€782 | -49.5% |
| Total equity and liabilities | 10/49 | €2,784,251 | €3,026,138 | +€241,888 | +8.7% |
| Equity | 10/15 | €1,107,721 | €1,396,898 | +€289,177 | +26.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,046,221 | €1,335,398 | +€289,177 | +27.6% |
| Non-distributable reserves | 130/1 | €7,889 | €7,889 | = | 0.0% |
| Legal reserve | 130 | €7,889 | €7,889 | = | 0.0% |
| Tax-exempt reserves | 132 | €231,550 | €336,800 | +€105,250 | +45.5% |
| Distributable reserves | 133 | €806,782 | €990,708 | +€183,927 | +22.8% |
| Amounts payable | 17/49 | €1,676,530 | €1,629,241 | -€47,289 | -2.8% |
| Amounts payable after more than one year | 17 | €661,104 | €555,844 | -€105,260 | -15.9% |
| Financial debts | 170/4 | €661,104 | €555,844 | -€105,260 | -15.9% |
| Amounts payable within one year | 42/48 | €954,111 | €1,010,012 | +€55,901 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €150,212 | €164,794 | +€14,582 | +9.7% |
| Financial debts | 43 | €12,500 | €12,626 | +€126 | +1.0% |
| Credit institutions | 430/8 | €12,500 | €12,626 | +€126 | +1.0% |
| Trade debts | 44 | €232,651 | €278,564 | +€45,913 | +19.7% |
| Suppliers | 440/4 | €232,651 | €278,564 | +€45,913 | +19.7% |
| Taxes, remuneration and social security | 45 | €358,748 | €351,228 | -€7,521 | -2.1% |
| Taxes | 450/3 | €115,668 | €111,275 | -€4,393 | -3.8% |
| Remuneration and social security | 454/9 | €243,080 | €239,952 | -€3,128 | -1.3% |
| Other amounts payable | 47/48 | €200,000 | €202,800 | +€2,800 | +1.4% |
| Accrued charges and deferred income | 492/3 | €61,314 | €63,385 | +€2,071 | +3.4% |
| Non-recurring operating income | 76A | €9,272 | €17,741 | +€8,469 | +91.3% |
| Remuneration, social security and pensions | 62 | €1,759,929 | €1,865,013 | +€105,084 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,418 | €187,481 | +€37,064 | +24.6% |
| Other operating charges | 640/8 | €17,282 | €12,591 | -€4,691 | -27.1% |
| Gross operating margin | 9900 | €2,623,828 | €2,659,515 | +€35,686 | +1.4% |
| Operating profit (loss) | 9901 | €696,200 | €594,430 | -€101,770 | -14.6% |
| Financial income | 75/76B | €21,043 | €21,513 | +€470 | +2.2% |
| Recurring financial income | 75 | €21,043 | €21,513 | +€470 | +2.2% |
| Financial charges | 65/66B | €28,447 | €31,096 | +€2,649 | +9.3% |
| Recurring financial charges | 65 | €28,447 | €31,096 | +€2,649 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €688,796 | €584,847 | -€103,949 | -15.1% |
| Income taxes | 67/77 | €133,725 | €115,670 | -€18,055 | -13.5% |
| Profit (loss) for the period | 9904 | €555,071 | €469,177 | -€85,894 | -15.5% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €105,250 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €449,821 | €363,927 | -€85,894 | -19.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.