DE WASSTRAAT: 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.
DE WASSTRAAT
Largest movements
- Tangible fixed assets +€5.5m
up €5.5m (+510%), from €1.1m to €6.6m
of which Land and buildings: +€4.9m
- Cash -€278,694
down €278,694 (-48.0%), from €580,823 to €302,129
mainly Investment in fixed assets (net) (-€6.6m) and Net result for the year (-€495,480)
- Receivables within one year +€183,261
up €183,261 (+48.4%), from €378,265 to €561,526
of which Other amounts receivable: +€163,959
- Short-term financial debts +€5.6m
new in 2025: €5.6m
- Profit (loss) carried forward -€495,480
down €495,480, from €339,374 to -€156,106
- Debts after one year +€431,587
up €431,587 (+484%), from €89,263 to €520,849
- Other debts -€351,115
down €351,115 (-97.9%), from €358,577 to €7,462
- Trade debts +€225,784
up €225,784 (+127%), from €177,299 to €403,083
- Depreciation +€771,060
up €771,060 (+281%), from €273,955 to €1.0m
- Taxes -€251,029
down €251,029 (-99.5%), from €252,236 to €1,207
- Financial charges +€82,460
up €82,460 (+220%), from €37,509 to €119,970
- Gross operating margin +€32,573
up €32,573 (+2.0%), from €1.6m to €1.7m
- Staff costs +€29,026
up €29,026 (+10.3%), from €281,122 to €310,149
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 | €2,188,048 | €7,597,157 | +€5.4m | +247% |
| Fixed assets | 21/28 | €1,163,930 | €6,670,975 | +€5.5m | +473% |
| Intangible fixed assets | 21 | €82,658 | €73,224 | -€9,434 | -11.4% |
| Tangible fixed assets | 22/27 | €1,081,272 | €6,597,751 | +€5.5m | +510% |
| Land and buildings | 22 | €428,428 | €5,319,486 | +€4.9m | +1,142% |
| Plant, machinery and equipment | 23 | €626,938 | €1,226,790 | +€599,852 | +95.7% |
| Furniture and vehicles | 24 | €25,906 | €51,475 | +€25,569 | +98.7% |
| Current assets | 29/58 | €1,024,118 | €926,182 | -€97,936 | -9.6% |
| Amounts receivable within one year | 40/41 | €378,265 | €561,526 | +€183,261 | +48.4% |
| Trade receivables | 40 | €130,454 | €149,757 | +€19,303 | +14.8% |
| Other amounts receivable | 41 | €247,811 | €411,769 | +€163,959 | +66.2% |
| Cash at bank and in hand | 54/58 | €580,823 | €302,129 | -€278,694 | -48.0% |
| Deferred charges and accrued income | 490/1 | €65,030 | €62,527 | -€2,503 | -3.8% |
| Total equity and liabilities | 10/49 | €2,188,048 | €7,597,157 | +€5.4m | +247% |
| Equity | 10/15 | €1,369,293 | €873,813 | -€495,480 | -36.2% |
| Contributions | 10/11 | €950,000 | €950,000 | = | 0.0% |
| Capital | 10 | €950,000 | €950,000 | = | 0.0% |
| Issued capital | 100 | €950,000 | €950,000 | = | 0.0% |
| Reserves | 13 | €79,919 | €79,919 | = | 0.0% |
| Non-distributable reserves | 130/1 | €79,735 | €79,735 | = | 0.0% |
| Legal reserve | 130 | €79,735 | €79,735 | = | 0.0% |
| Tax-exempt reserves | 132 | €184 | €184 | = | 0.0% |
| Profit (loss) carried forward | 14 | €339,374 | -€156,106 | -€495,480 | |
| Amounts payable | 17/49 | €818,755 | €6,723,344 | +€5.9m | +721% |
| Amounts payable after more than one year | 17 | €89,263 | €520,849 | +€431,587 | +484% |
| Financial debts | 170/4 | €89,263 | €520,849 | +€431,587 | +484% |
| Amounts payable within one year | 42/48 | €729,492 | €6,183,183 | +€5.5m | +748% |
| Current portion of amounts payable after more than one year | 42 | €133,296 | €129,520 | -€3,777 | -2.8% |
| Financial debts | 43 | - | €5,581,774 | +€5.6m | |
| Credit institutions | 430/8 | - | €5,581,774 | +€5.6m | |
| Trade debts | 44 | €177,299 | €403,083 | +€225,784 | +127% |
| Suppliers | 440/4 | €177,299 | €403,083 | +€225,784 | +127% |
| Taxes, remuneration and social security | 45 | €60,320 | €61,345 | +€1,025 | +1.7% |
| Taxes | 450/3 | €19,062 | €25,327 | +€6,265 | +32.9% |
| Remuneration and social security | 454/9 | €41,258 | €36,018 | -€5,240 | -12.7% |
| Other amounts payable | 47/48 | €358,577 | €7,462 | -€351,115 | -97.9% |
| Accrued charges and deferred income | 492/3 | - | €19,312 | +€19,312 | |
| Non-recurring operating income | 76A | €17,363 | €0 | -€17,363 | -100% |
| Remuneration, social security and pensions | 62 | €281,122 | €310,149 | +€29,026 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €273,955 | €1,045,015 | +€771,060 | +281% |
| Other operating charges | 640/8 | €68,247 | €42,124 | -€26,123 | -38.3% |
| Non-recurring operating charges | 66A | €0 | €655,875 | +€655,875 | |
| Gross operating margin | 9900 | €1,634,150 | €1,666,724 | +€32,573 | +2.0% |
| Operating profit (loss) | 9901 | €1,010,825 | -€386,439 | -€1.4m | |
| Financial income | 75/76B | €9,840 | €12,135 | +€2,296 | +23.3% |
| Recurring financial income | 75 | €9,840 | €12,135 | +€2,296 | +23.3% |
| Financial charges | 65/66B | €37,509 | €119,970 | +€82,460 | +220% |
| Recurring financial charges | 65 | €37,509 | €119,970 | +€82,460 | +220% |
| Profit (loss) for the period before taxes | 9903 | €983,156 | -€494,273 | -€1.5m | |
| Income taxes | 67/77 | €252,236 | €1,207 | -€251,029 | -99.5% |
| Profit (loss) for the period | 9904 | €730,920 | -€495,480 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €730,920 | -€495,480 | -€1.2m |
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 20 October 2026 via checked.be.