AQUASIMCO: 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.
AQUASIMCO
Largest movements
- Cash +€55,330
up €55,330 (+48.7%), from €113,686 to €169,017
mainly Trade debts (+€71,554) and Net result for the year (+€56,042)
- Other debts -€89,000
no longer reported in 2025 (was €89,000)
- Trade debts +€71,554
new in 2025: €71,554
- Reserves +€56,042
up €56,042 (+78.5%), from €71,370 to €127,412
- Gross operating margin -€15,669
down €15,669 (-7.5%), from €207,650 to €191,981
- Staff costs +€5,840
up €5,840 (+7.8%), from €74,637 to €80,477
- Taxes -€5,667
down €5,667 (-16.2%), from €35,074 to €29,407
- Other operating charges -€4,798
down €4,798 (-67.5%), from €7,105 to €2,307
- Depreciation +€2,623
up €2,623 (+19.7%), from €13,306 to €15,929
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 | €3,854,323 | €3,881,315 | +€26,993 | +0.7% |
| Fixed assets | 21/28 | €3,696,404 | €3,685,717 | -€10,687 | -0.3% |
| Tangible fixed assets | 22/27 | €64,775 | €53,234 | -€11,541 | -17.8% |
| Furniture and vehicles | 24 | €64,775 | €53,234 | -€11,541 | -17.8% |
| Financial fixed assets | 28 | €3,631,629 | €3,632,483 | +€854 | 0.0% |
| Current assets | 29/58 | €157,919 | €195,599 | +€37,680 | +23.9% |
| Amounts receivable within one year | 40/41 | €44,233 | €26,582 | -€17,651 | -39.9% |
| Trade receivables | 40 | €2,212 | €571 | -€1,640 | -74.2% |
| Other amounts receivable | 41 | €42,021 | €26,011 | -€16,010 | -38.1% |
| Cash at bank and in hand | 54/58 | €113,686 | €169,017 | +€55,330 | +48.7% |
| Total equity and liabilities | 10/49 | €3,854,323 | €3,881,315 | +€26,993 | +0.7% |
| Equity | 10/15 | €3,701,370 | €3,757,412 | +€56,042 | +1.5% |
| Contributions | 10/11 | €3,630,000 | €3,630,000 | = | 0.0% |
| Capital | 10 | €3,630,000 | €3,630,000 | = | 0.0% |
| Issued capital | 100 | €3,630,000 | €3,630,000 | = | 0.0% |
| Reserves | 13 | €71,370 | €127,412 | +€56,042 | +78.5% |
| Distributable reserves | 133 | €71,370 | €127,412 | +€56,042 | +78.5% |
| Amounts payable | 17/49 | €152,953 | €123,904 | -€29,049 | -19.0% |
| Amounts payable after more than one year | 17 | €45,722 | €31,818 | -€13,903 | -30.4% |
| Financial debts | 170/4 | €45,722 | €31,818 | -€13,903 | -30.4% |
| Amounts payable within one year | 42/48 | €107,231 | €92,085 | -€15,146 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €13,433 | €13,897 | +€464 | +3.5% |
| Trade debts | 44 | - | €71,554 | +€71,554 | |
| Suppliers | 440/4 | - | €71,554 | +€71,554 | |
| Taxes, remuneration and social security | 45 | €4,798 | €6,634 | +€1,836 | +38.3% |
| Taxes | 450/3 | €4,378 | €6,214 | +€1,836 | +41.9% |
| Remuneration and social security | 454/9 | €421 | €421 | = | 0.0% |
| Other amounts payable | 47/48 | €89,000 | - | -€89,000 | |
| Remuneration, social security and pensions | 62 | €74,637 | €80,477 | +€5,840 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,306 | €15,929 | +€2,623 | +19.7% |
| Other operating charges | 640/8 | €7,105 | €2,307 | -€4,798 | -67.5% |
| Gross operating margin | 9900 | €207,650 | €191,981 | -€15,669 | -7.5% |
| Operating profit (loss) | 9901 | €112,603 | €93,269 | -€19,334 | -17.2% |
| Financial charges | 65/66B | €7,470 | €7,820 | +€350 | +4.7% |
| Recurring financial charges | 65 | €7,470 | €7,820 | +€350 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €105,132 | €85,449 | -€19,684 | -18.7% |
| Income taxes | 67/77 | €35,074 | €29,407 | -€5,667 | -16.2% |
| Profit (loss) for the period | 9904 | €70,058 | €56,042 | -€14,017 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,058 | €56,042 | -€14,017 | -20.0% |
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 3 October 2026 via checked.be.