AQUATIC SCIENCE: 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.
What changed
AQUATIC SCIENCE
NACE 72.101, Research and development on biotechnology
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€281,804
2024 · €1.1m-€1.4m
Equity
€3.3m
2024 · €3.6m-€281,804
Cash
€43,805
2024 · €390,179-€346,374
Balance sheet total
€3.8m
2024 · €5.0m-€1.1m
Largest movements
Assets
- Receivables within one year -€1.0m
down €1.0m (-78.8%), from €1.3m to €275,594
of which Trade receivables: -€914,315
- Cash -€346,374
down €346,374 (-88.8%), from €390,179 to €43,805
mainly Short-term financial debts (-€600,000) and Net result for the year (-€281,804)
- Financial fixed assets +€147,500
up €147,500 (+6.2%), from €2.4m to €2.5m
- Stocks and contracts +€118,982
up €118,982 (+25.5%), from €466,408 to €585,390
- Intangible fixed assets -€55,366
down €55,366 (-29.5%), from €187,480 to €132,115
Equity and liabilities
- Short-term financial debts -€600,000
down €600,000 (-100%), from €600,000 to €0
- Profit (loss) carried forward -€281,804
down €281,804 (-35.8%), from €787,402 to €505,597
- Debts after one year -€73,803
down €73,803 (-66.8%), from €110,464 to €36,661
- Trade debts -€73,038
down €73,038 (-23.5%), from €310,382 to €237,345
Income statement
- Gross operating margin -€2.5m
down €2.5m (-92.0%), from €2.7m to €214,387
- Write-downs -€251,922
down €251,922, from €52,790 to -€199,132
- Staff costs -€216,710
down €216,710 (-29.4%), from €736,839 to €520,128
- Other operating charges -€86,891
down €86,891 (-92.2%), from €94,281 to €7,390
- Taxes -€83,841
down €83,841 (-96.6%), from €86,776 to €2,936
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.
Result 2024
€1.1m
Gross operating margin
-€2.5m
Staff costs
+€216,710
Depreciation
+€52,536
Write-downs
+€251,922
Other operating charges
+€86,891
Other operating items
+€380,588
Financial income
+€7,596
Financial charges
+€26,760
Taxes
+€83,841
Result 2025
-€281,804
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€572,982
Investment
-€231,400
Financing
-€687,956
Cash 2024
€390,179
From operations (derived)
+€572,982
Net result for the year
-€281,804
Depreciation
+€99,959
Smaller working-capital items
-€513
Stocks and contracts
-€118,982
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€3,563
Provisions
-€28,500
Trade debts
-€73,038
Tax, wage and social debts
-€24,013
Accrued charges and deferred income
-€19,275
Investment (derived)
-€231,400
Investment in fixed assets (net)
-€231,400
Financing
-€687,956
Debts after one year
-€73,803
Current portion of long-term debt
-€14,153
Short-term financial debts
-€600,000
Cash 2025
€43,805
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,965,273 | €3,848,653 | -€1.1m | -22.5% |
| Formation expenses | 20 | €3,887 | €401 | -€3,485 | -89.7% |
| Fixed assets | 21/28 | €2,644,392 | €2,779,318 | +€134,926 | +5.1% |
| Intangible fixed assets | 21 | €187,480 | €132,115 | -€55,366 | -29.5% |
| Tangible fixed assets | 22/27 | €65,263 | €108,055 | +€42,792 | +65.6% |
| Plant, machinery and equipment | 23 | €37,663 | €52,590 | +€14,927 | +39.6% |
| Furniture and vehicles | 24 | €13,460 | €13,222 | -€238 | -1.8% |
| Leasing and similar rights | 25 | €768 | €0 | -€768 | -100% |
| Other tangible fixed assets | 26 | €13,372 | €42,243 | +€28,871 | +216% |
| Financial fixed assets | 28 | €2,391,649 | €2,539,149 | +€147,500 | +6.2% |
| Current assets | 29/58 | €2,316,994 | €1,068,934 | -€1.2m | -53.9% |
| Amounts receivable after more than one year | 29 | €1,521 | €0 | -€1,521 | -100% |
| Trade receivables | 290 | €1,521 | €0 | -€1,521 | -100% |
| Stocks and contracts in progress | 3 | €466,408 | €585,390 | +€118,982 | +25.5% |
| Stocks | 30/36 | €466,408 | €585,390 | +€118,982 | +25.5% |
| Amounts receivable within one year | 40/41 | €1,298,305 | €275,594 | -€1.0m | -78.8% |
| Trade receivables | 40 | €1,070,643 | €156,328 | -€914,315 | -85.4% |
| Other amounts receivable | 41 | €227,662 | €119,266 | -€108,395 | -47.6% |
| Current investments | 50/53 | €149,199 | €149,199 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €390,179 | €43,805 | -€346,374 | -88.8% |
| Deferred charges and accrued income | 490/1 | €11,382 | €14,946 | +€3,563 | +31.3% |
| Total equity and liabilities | 10/49 | €4,965,273 | €3,848,653 | -€1.1m | -22.5% |
| Equity | 10/15 | €3,562,122 | €3,280,317 | -€281,804 | -7.9% |
| Contributions | 10/11 | €2,486,758 | €2,486,758 | = | 0.0% |
| Capital | 10 | €2,486,758 | €2,486,758 | = | 0.0% |
| Issued capital | 100 | €2,486,758 | €2,486,758 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Reserves | 13 | €287,962 | €287,962 | = | 0.0% |
| Non-distributable reserves | 130/1 | €217,922 | €217,922 | = | 0.0% |
| Legal reserve | 130 | €68,723 | €68,723 | = | 0.0% |
| Own shares acquired | 1312 | €149,199 | €149,199 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €32,540 | €32,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | €787,402 | €505,597 | -€281,804 | -35.8% |
| Provisions and deferred taxes | 16 | €41,000 | €12,500 | -€28,500 | -69.5% |
| Provisions for liabilities and charges | 160/5 | €41,000 | €12,500 | -€28,500 | -69.5% |
| Pensions and similar obligations | 160 | €41,000 | €12,500 | -€28,500 | -69.5% |
| Amounts payable | 17/49 | €1,362,151 | €555,836 | -€806,315 | -59.2% |
| Amounts payable after more than one year | 17 | €110,464 | €36,661 | -€73,803 | -66.8% |
| Financial debts | 170/4 | €110,464 | €36,661 | -€73,803 | -66.8% |
| Amounts payable within one year | 42/48 | €1,232,413 | €519,175 | -€713,237 | -57.9% |
| Current portion of amounts payable after more than one year | 42 | €121,648 | €107,495 | -€14,153 | -11.6% |
| Financial debts | 43 | €600,000 | €0 | -€600,000 | -100% |
| Credit institutions | 430/8 | €600,000 | €0 | -€600,000 | -100% |
| Trade debts | 44 | €310,382 | €237,345 | -€73,038 | -23.5% |
| Suppliers | 440/4 | €310,382 | €237,345 | -€73,038 | -23.5% |
| Taxes, remuneration and social security | 45 | €109,743 | €85,730 | -€24,013 | -21.9% |
| Taxes | 450/3 | €30,313 | €795 | -€29,518 | -97.4% |
| Remuneration and social security | 454/9 | €79,430 | €84,935 | +€5,505 | +6.9% |
| Other amounts payable | 47/48 | €90,639 | €88,605 | -€2,034 | -2.2% |
| Accrued charges and deferred income | 492/3 | €19,275 | €0 | -€19,275 | -100% |
| Non-recurring operating income | 76A | €1,890,745 | €113,320 | -€1.8m | -94.0% |
| Remuneration, social security and pensions | 62 | €736,839 | €520,128 | -€216,710 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,495 | €99,959 | -€52,536 | -34.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €52,790 | -€199,132 | -€251,922 | |
| Other operating charges | 640/8 | €94,281 | €7,390 | -€86,891 | -92.2% |
| Non-recurring operating charges | 66A | €409,269 | €28,681 | -€380,588 | -93.0% |
| Gross operating margin | 9900 | €2,684,709 | €214,387 | -€2.5m | -92.0% |
| Operating profit (loss) | 9901 | €1,239,034 | -€242,640 | -€1.5m | |
| Financial income | 75/76B | €3,388 | €10,984 | +€7,596 | +224% |
| Recurring financial income | 75 | €3,388 | €10,984 | +€7,596 | +224% |
| Financial charges | 65/66B | €73,972 | €47,213 | -€26,760 | -36.2% |
| Recurring financial charges | 65 | €73,972 | €47,213 | -€26,760 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | €1,168,450 | -€278,868 | -€1.4m | |
| Income taxes | 67/77 | €86,776 | €2,936 | -€83,841 | -96.6% |
| Profit (loss) for the period | 9904 | €1,081,674 | -€281,804 | -€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,081,674 | -€281,804 | -€1.4m |
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 22 October 2026 via checked.be.