BWatt: 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.
BWatt
Largest movements
- Stocks and contracts -€34,442
down €34,442 (-100.0%), from €34,442 to €0
- Receivables within one year +€16,091
up €16,091 (+149.1%), from €10,793 to €26,884
of which Trade receivables: +€21,075
- Intangible fixed assets -€6,450
down €6,450 (-70.1%), from €9,202 to €2,752
- Advances received -€22,234
down €22,234 (-100.0%), from €22,234 to €0
- Trade debts -€9,630
down €9,630 (-8.4%), from €114,065 to €104,435
- Profit (loss) carried forward +€5,361
up €5,361 (+1.7%), from -€313,077 to -€307,717
- Other debts +€1,258
up €1,258 (+3.2%), from €39,455 to €40,713
- Gross operating margin +€146,747
up €146,747, from -€138,174 to €8,573
- Staff costs -€28,000
down €28,000, from €24,500 to -€3,500
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 | €114,479 | €89,233 | -€25,246 | -22.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €68,733 | €62,283 | -€6,450 | -9.4% |
| Intangible fixed assets | 21 | €9,202 | €2,752 | -€6,450 | -70.1% |
| Tangible fixed assets | 22/27 | €59,531 | €59,531 | = | 0.0% |
| Assets under construction and advance payments | 27 | €59,531 | €59,531 | = | 0.0% |
| Current assets | 29/58 | €45,746 | €26,950 | -€18,796 | -41.1% |
| Stocks and contracts in progress | 3 | €34,442 | €0 | -€34,442 | -100.0% |
| Contracts in progress | 37 | €34,442 | €0 | -€34,442 | -100.0% |
| Amounts receivable within one year | 40/41 | €10,793 | €26,884 | +€16,091 | +149.1% |
| Trade receivables | 40 | €0 | €21,075 | +€21,075 | |
| Other amounts receivable | 41 | €10,793 | €5,809 | -€4,984 | -46.2% |
| Cash at bank and in hand | 54/58 | €511 | €66 | -€445 | -87.0% |
| Total equity and liabilities | 10/49 | €114,479 | €89,233 | -€25,246 | -22.1% |
| Equity | 10/15 | -€223,077 | -€217,717 | +€5,361 | +2.4% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€313,077 | -€307,717 | +€5,361 | +1.7% |
| Provisions and deferred taxes | 16 | €3,016 | €3,016 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,016 | €3,016 | = | 0.0% |
| Pensions and similar obligations | 160 | €3,016 | €3,016 | = | 0.0% |
| Amounts payable | 17/49 | €334,541 | €303,934 | -€30,607 | -9.1% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Financial debts | 170/4 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €183,041 | €152,434 | -€30,607 | -16.7% |
| Trade debts | 44 | €114,065 | €104,435 | -€9,630 | -8.4% |
| Suppliers | 440/4 | €114,065 | €104,435 | -€9,630 | -8.4% |
| Advances received on contracts in progress | 46 | €22,234 | €0 | -€22,234 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,286 | €7,286 | = | 0.0% |
| Taxes | 450/3 | €7,286 | €7,286 | = | 0.0% |
| Other amounts payable | 47/48 | €39,455 | €40,713 | +€1,258 | +3.2% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €24,500 | -€3,500 | -€28,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,468 | €6,450 | -€18 | -0.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €0 | = | |
| Other operating charges | 640/8 | €348 | €0 | -€348 | -100.0% |
| Gross operating margin | 9900 | -€138,174 | €8,573 | +€146,747 | |
| Operating profit (loss) | 9901 | -€169,489 | €5,623 | +€175,112 | |
| Financial income | 75/76B | €80 | €12 | -€68 | -85.5% |
| Recurring financial income | 75 | €80 | €12 | -€68 | -85.5% |
| Financial charges | 65/66B | €273 | €274 | +€1 | +0.4% |
| Recurring financial charges | 65 | €273 | €274 | +€1 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€169,682 | €5,361 | +€175,043 | |
| Profit (loss) for the period | 9904 | -€169,682 | €5,361 | +€175,043 | |
| Profit (loss) for the period to be appropriated | 9905 | -€169,682 | €5,361 | +€175,043 |
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 7 October 2026 via checked.be.