BEWATT: 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.
What changed
BEWATT
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.6m
2024 · €1.2m+€2.4m
Equity
€26.1m
2024 · €15.3m+€10.8m
Cash
€147,095
2024 · €345,066-€197,971
Balance sheet total
€32.0m
2024 · €26.5m+€5.5m
Largest movements
Assets
- Financial fixed assets +€3.4m
up €3.4m (+19.8%), from €17.4m to €20.8m
- Receivables after one year +€2.0m
up €2.0m (+24.7%), from €8.0m to €10.0m
Equity and liabilities
- Contributions +€7.2m
up €7.2m (+68.5%), from €10.6m to €17.8m
- Other debts -€5.5m
down €5.5m (-55.5%), from €9.9m to €4.4m
- Profit (loss) carried forward +€3.6m
up €3.6m (+80.9%), from €4.4m to €8.0m
- Current portion of long-term debt +€450,000
up €450,000 (+112.5%), from €400,000 to €850,000
- Debts after one year -€400,000
down €400,000 (-50.0%), from €800,000 to €400,000
Income statement
- Financial income +€2.6m
up €2.6m (+172.1%), from €1.5m to €4.1m
- Write-downs +€196,146
new in 2025: €196,146
- Other operating charges -€113,189
down €113,189 (-98.4%), from €115,016 to €1,827
- Gross operating margin -€94,955
down €94,955, from €9,374 to -€85,581
- Taxes +€48,160
up €48,160, from €0 to €48,160
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
€1.2m
Gross operating margin
-€94,955
Staff costs
-€683
Depreciation
+€3,818
Write-downs
-€196,146
Other operating charges
+€113,189
Financial income
+€2.6m
Financial charges
-€10,236
Taxes
-€48,160
Result 2025
€3.6m
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.
From operations
-€4.0m
Investment
-€3.5m
Financing
+€7.3m
Cash 2024
€345,066
From operations (derived)
-€4.0m
Net result for the year
+€3.6m
Depreciation
+€28,155
Receivables after one year
-€2.0m
Receivables within one year
+€116,141
Deferred charges and accrued income
-€299,553
Trade debts
-€1,052
Tax, wage and social debts
+€39,262
Other debts
-€5.5m
Accrued charges and deferred income
+€75,017
Investment (derived)
-€3.5m
Investment in fixed assets (net)
-€3.5m
Financing
+€7.3m
Debts after one year
-€400,000
Current portion of long-term debt
+€450,000
Contributions, distributions and other
+€7.2m
Cash 2025
€147,095
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,532,780 | €31,993,186 | +€5.5m | +20.6% |
| Fixed assets | 21/28 | €17,397,602 | €20,889,339 | +€3.5m | +20.1% |
| Tangible fixed assets | 22/27 | €31,249 | €85,644 | +€54,395 | +174.1% |
| Furniture and vehicles | 24 | €30,687 | €85,644 | +€54,957 | +179.1% |
| Other tangible fixed assets | 26 | €562 | - | -€562 | |
| Financial fixed assets | 28 | €17,366,353 | €20,803,695 | +€3.4m | +19.8% |
| Current assets | 29/58 | €9,135,178 | €11,103,847 | +€2.0m | +21.6% |
| Amounts receivable after more than one year | 29 | €8,027,312 | €10,010,540 | +€2.0m | +24.7% |
| Other amounts receivable | 291 | €8,027,312 | €10,010,540 | +€2.0m | +24.7% |
| Amounts receivable within one year | 40/41 | €634,024 | €517,883 | -€116,141 | -18.3% |
| Trade receivables | 40 | €40,370 | €40,645 | +€275 | +0.7% |
| Other amounts receivable | 41 | €593,654 | €477,238 | -€116,416 | -19.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €345,066 | €147,095 | -€197,971 | -57.4% |
| Deferred charges and accrued income | 490/1 | €128,777 | €428,330 | +€299,553 | +232.6% |
| Total equity and liabilities | 10/49 | €26,532,780 | €31,993,186 | +€5.5m | +20.6% |
| Equity | 10/15 | €15,308,407 | €26,099,546 | +€10.8m | +70.5% |
| Contributions | 10/11 | €10,559,810 | €17,796,310 | +€7.2m | +68.5% |
| Reserves | 13 | €352,600 | €352,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,600 | €15,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,600 | €15,600 | = | 0.0% |
| Distributable reserves | 133 | €337,000 | €337,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,395,998 | €7,950,636 | +€3.6m | +80.9% |
| Amounts payable | 17/49 | €11,224,373 | €5,893,640 | -€5.3m | -47.5% |
| Amounts payable after more than one year | 17 | €800,000 | €400,000 | -€400,000 | -50.0% |
| Financial debts | 170/4 | €800,000 | €400,000 | -€400,000 | -50.0% |
| Amounts payable within one year | 42/48 | €10,336,381 | €5,330,631 | -€5.0m | -48.4% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €850,000 | +€450,000 | +112.5% |
| Trade debts | 44 | €2,412 | €1,359 | -€1,052 | -43.6% |
| Suppliers | 440/4 | €2,412 | €1,359 | -€1,052 | -43.6% |
| Taxes, remuneration and social security | 45 | €42,885 | €82,147 | +€39,262 | +91.6% |
| Taxes | 450/3 | €36,552 | €71,339 | +€34,788 | +95.2% |
| Remuneration and social security | 454/9 | €6,333 | €10,808 | +€4,475 | +70.7% |
| Other amounts payable | 47/48 | €9,891,084 | €4,397,124 | -€5.5m | -55.5% |
| Accrued charges and deferred income | 492/3 | €87,992 | €163,010 | +€75,017 | +85.3% |
| Remuneration, social security and pensions | 62 | €29,860 | €30,543 | +€683 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,973 | €28,155 | -€3,818 | -11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €196,146 | +€196,146 | |
| Other operating charges | 640/8 | €115,016 | €1,827 | -€113,189 | -98.4% |
| Gross operating margin | 9900 | €9,374 | -€85,581 | -€94,955 | |
| Operating profit (loss) | 9901 | -€167,475 | -€342,253 | -€174,778 | -104.4% |
| Financial income | 75/76B | €1,503,413 | €4,091,517 | +€2.6m | +172.1% |
| Recurring financial income | 75 | €1,503,413 | €4,091,517 | +€2.6m | +172.1% |
| Financial charges | 65/66B | €136,230 | €146,466 | +€10,236 | +7.5% |
| Recurring financial charges | 65 | €136,230 | €146,466 | +€10,236 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €1,199,708 | €3,602,798 | +€2.4m | +200.3% |
| Income taxes | 67/77 | €0 | €48,160 | +€48,160 | |
| Profit (loss) for the period | 9904 | €1,199,708 | €3,554,638 | +€2.4m | +196.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,199,708 | €3,554,638 | +€2.4m | +196.3% |
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 28 September 2026 via checked.be.