C.Watillon: 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.
C.Watillon
Largest movements
- Tangible fixed assets +€150,872
new in 2025: €150,872
- Cash -€19,590
down €19,590 (-82.8%), from €23,655 to €4,065
mainly Investment in fixed assets (net) (-€153,000) and Net result for the year (-€27,005)
- Receivables within one year -€5,947
down €5,947 (-86.3%), from €6,890 to €944
- Deferred charges and accrued income -€2,034
down €2,034 (-97.1%), from €2,094 to €60
- Debts after one year +€126,826
new in 2025: €126,826
- Profit (loss) carried forward -€27,005
down €27,005, from €18,236 to -€8,769
- Other debts +€17,269
up €17,269 (+7,798%), from €221 to €17,491
- Current portion of long-term debt +€11,535
new in 2025: €11,535
- Tax, wage and social debts -€5,257
down €5,257 (-47.8%), from €10,997 to €5,740
of which Taxes: -€6,757
- Gross operating margin -€18,022
down €18,022, from €14,742 to -€3,280
- Taxes -€3,644
no longer reported in 2025 (was €3,644)
- Financial charges +€3,613
up €3,613 (+9,761%), from €37 to €3,650
- Depreciation +€2,128
new in 2025: €2,128
- Other operating charges +€555
new in 2025: €555
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 | €32,638 | €155,941 | +€123,302 | +378% |
| Fixed assets | 21/28 | - | €150,872 | +€150,872 | |
| Tangible fixed assets | 22/27 | - | €150,872 | +€150,872 | |
| Land and buildings | 22 | - | €150,872 | +€150,872 | |
| Current assets | 29/58 | €32,638 | €5,068 | -€27,570 | -84.5% |
| Amounts receivable within one year | 40/41 | €6,890 | €944 | -€5,947 | -86.3% |
| Trade receivables | 40 | €6,890 | €944 | -€5,947 | -86.3% |
| Cash at bank and in hand | 54/58 | €23,655 | €4,065 | -€19,590 | -82.8% |
| Deferred charges and accrued income | 490/1 | €2,094 | €60 | -€2,034 | -97.1% |
| Total equity and liabilities | 10/49 | €32,638 | €155,941 | +€123,302 | +378% |
| Equity | 10/15 | €21,236 | -€5,769 | -€27,005 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,000 | - | -€3,000 | |
| Other | 1109/19 | €3,000 | - | -€3,000 | |
| Profit (loss) carried forward | 14 | €18,236 | -€8,769 | -€27,005 | |
| Amounts payable | 17/49 | €11,402 | €161,709 | +€150,307 | +1,318% |
| Amounts payable after more than one year | 17 | - | €126,826 | +€126,826 | |
| Financial debts | 170/4 | - | €126,826 | +€126,826 | |
| Amounts payable within one year | 42/48 | €11,402 | €34,883 | +€23,481 | +206% |
| Current portion of amounts payable after more than one year | 42 | - | €11,535 | +€11,535 | |
| Trade debts | 44 | €183 | €116 | -€67 | -36.5% |
| Suppliers | 440/4 | €183 | €116 | -€67 | -36.5% |
| Taxes, remuneration and social security | 45 | €10,997 | €5,740 | -€5,257 | -47.8% |
| Taxes | 450/3 | €10,997 | €4,240 | -€6,757 | -61.4% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €221 | €17,491 | +€17,269 | +7,798% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,128 | +€2,128 | |
| Other operating charges | 640/8 | - | €555 | +€555 | |
| Non-recurring operating charges | 66A | - | €17,400 | +€17,400 | |
| Gross operating margin | 9900 | €14,742 | -€3,280 | -€18,022 | |
| Operating profit (loss) | 9901 | €14,742 | -€23,363 | -€38,105 | |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €37 | €3,650 | +€3,613 | +9,761% |
| Recurring financial charges | 65 | €37 | €3,650 | +€3,613 | +9,761% |
| Profit (loss) for the period before taxes | 9903 | €14,705 | -€27,005 | -€41,709 | |
| Income taxes | 67/77 | €3,644 | - | -€3,644 | |
| Profit (loss) for the period | 9904 | €11,060 | -€27,005 | -€38,065 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,060 | -€27,005 | -€38,065 |
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 23 October 2026 via checked.be.