AQUARELLE: 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.
AQUARELLE
Largest movements
- Cash -€62,439
down €62,439 (-7.8%), from €805,051 to €742,612
mainly Current investments (-€50,000) and Trade debts (-€31,850)
- Current investments +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Tangible fixed assets -€41,470
down €41,470 (-7.6%), from €543,940 to €502,470
of which Land and buildings: -€33,678
- Trade debts -€31,850
down €31,850 (-28.1%), from €113,542 to €81,692
- Profit (loss) carried forward -€18,894
down €18,894 (-1.3%), from €1.4m to €1.4m
- Gross operating margin +€82,566
up €82,566 (+4.9%), from €1.7m to €1.8m
- Staff costs +€39,526
up €39,526 (+2.3%), from €1.7m to €1.7m
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 | €1,873,770 | €1,831,100 | -€42,670 | -2.3% |
| Fixed assets | 21/28 | €550,561 | €508,127 | -€42,434 | -7.7% |
| Intangible fixed assets | 21 | €810 | €146 | -€664 | -82.0% |
| Tangible fixed assets | 22/27 | €543,940 | €502,470 | -€41,470 | -7.6% |
| Land and buildings | 22 | €515,113 | €481,435 | -€33,678 | -6.5% |
| Plant, machinery and equipment | 23 | €1,251 | €1,259 | +€8 | +0.6% |
| Furniture and vehicles | 24 | €27,577 | €19,777 | -€7,800 | -28.3% |
| Financial fixed assets | 28 | €5,811 | €5,511 | -€300 | -5.2% |
| Current assets | 29/58 | €1,323,209 | €1,322,972 | -€237 | 0.0% |
| Amounts receivable after more than one year | 29 | €220,000 | €220,000 | = | 0.0% |
| Trade receivables | 290 | €220,000 | €220,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €145,428 | €150,315 | +€4,887 | +3.4% |
| Trade receivables | 40 | €12,195 | €13,958 | +€1,763 | +14.5% |
| Other amounts receivable | 41 | €133,233 | €136,357 | +€3,124 | +2.3% |
| Current investments | 50/53 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €805,051 | €742,612 | -€62,439 | -7.8% |
| Deferred charges and accrued income | 490/1 | €2,730 | €10,045 | +€7,315 | +268% |
| Total equity and liabilities | 10/49 | €1,873,770 | €1,831,100 | -€42,670 | -2.3% |
| Equity | 10/15 | €1,575,476 | €1,556,582 | -€18,894 | -1.2% |
| Reserves | 13 | €148,000 | €148,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,427,476 | €1,408,582 | -€18,894 | -1.3% |
| Amounts payable | 17/49 | €298,294 | €274,518 | -€23,776 | -8.0% |
| Amounts payable after more than one year | 17 | €7,191 | €0 | -€7,191 | -100% |
| Financial debts | 170/4 | €7,191 | €0 | -€7,191 | -100% |
| Amounts payable within one year | 42/48 | €289,861 | €274,518 | -€15,343 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €7,470 | €7,191 | -€279 | -3.7% |
| Trade debts | 44 | €113,542 | €81,692 | -€31,850 | -28.1% |
| Suppliers | 440/4 | €113,542 | €81,692 | -€31,850 | -28.1% |
| Taxes, remuneration and social security | 45 | €168,849 | €185,635 | +€16,786 | +9.9% |
| Taxes | 450/3 | €0 | €2,604 | +€2,604 | |
| Remuneration and social security | 454/9 | €168,849 | €183,031 | +€14,182 | +8.4% |
| Accrued charges and deferred income | 492/3 | €1,242 | - | -€1,242 | |
| Remuneration, social security and pensions | 62 | €1,691,215 | €1,730,742 | +€39,526 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,866 | €66,691 | -€175 | -0.3% |
| Other operating charges | 640/8 | €5,109 | €5,713 | +€605 | +11.8% |
| Gross operating margin | 9900 | €1,691,024 | €1,773,590 | +€82,566 | +4.9% |
| Operating profit (loss) | 9901 | -€72,167 | -€29,556 | +€42,611 | +59.0% |
| Financial income | 75/76B | €9,315 | €11,416 | +€2,101 | +22.6% |
| Recurring financial income | 75 | €9,315 | €11,416 | +€2,101 | +22.6% |
| Financial charges | 65/66B | €1,171 | €754 | -€417 | -35.6% |
| Recurring financial charges | 65 | €1,171 | €754 | -€417 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | -€64,023 | -€18,894 | +€45,129 | +70.5% |
| Profit (loss) for the period | 9904 | -€64,023 | -€18,894 | +€45,129 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,023 | -€18,894 | +€45,129 | +70.5% |
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 31 October 2026 via checked.be.