De Waterhoeve: 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 Waterhoeve
Largest movements
- Cash +€29,074
up €29,074 (+121%), from €23,949 to €53,023
mainly Net result for the year (+€32,469) and Depreciation (+€22,228)
- Tangible fixed assets -€12,358
down €12,358 (-11.3%), from €109,351 to €96,993
of which Furniture and vehicles: -€9,106
- Receivables within one year +€8,777
new in 2025: €8,777
of which Trade receivables: +€8,727
- Profit (loss) carried forward +€32,469
up €32,469 (+64.7%), from €50,202 to €82,672
- Debts after one year -€9,926
down €9,926 (-30.4%), from €32,607 to €22,681
- Trade debts +€4,741
up €4,741 (+295%), from €1,606 to €6,346
- Tax, wage and social debts -€2,037
down €2,037 (-22.5%), from €9,071 to €7,034
of which Taxes: -€3,313
- Gross operating margin +€6,577
up €6,577 (+10.3%), from €63,907 to €70,483
- Depreciation +€5,459
up €5,459 (+32.6%), from €16,769 to €22,228
- Other operating charges -€1,023
down €1,023 (-41.8%), from €2,448 to €1,425
- Taxes +€950
up €950 (+10.6%), from €9,000 to €9,950
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 | €133,599 | €159,097 | +€25,499 | +19.1% |
| Fixed assets | 21/28 | €109,351 | €96,993 | -€12,358 | -11.3% |
| Tangible fixed assets | 22/27 | €109,351 | €96,993 | -€12,358 | -11.3% |
| Land and buildings | 22 | €55,303 | €54,022 | -€1,282 | -2.3% |
| Plant, machinery and equipment | 23 | €15,758 | €13,788 | -€1,970 | -12.5% |
| Furniture and vehicles | 24 | €38,289 | €29,184 | -€9,106 | -23.8% |
| Current assets | 29/58 | €24,248 | €62,104 | +€37,856 | +156% |
| Amounts receivable within one year | 40/41 | - | €8,777 | +€8,777 | |
| Trade receivables | 40 | - | €8,727 | +€8,727 | |
| Other amounts receivable | 41 | - | €50 | +€50 | |
| Cash at bank and in hand | 54/58 | €23,949 | €53,023 | +€29,074 | +121% |
| Deferred charges and accrued income | 490/1 | €299 | €304 | +€5 | +1.6% |
| Total equity and liabilities | 10/49 | €133,599 | €159,097 | +€25,499 | +19.1% |
| Equity | 10/15 | €56,202 | €88,672 | +€32,469 | +57.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,202 | €82,672 | +€32,469 | +64.7% |
| Amounts payable | 17/49 | €77,396 | €70,425 | -€6,971 | -9.0% |
| Amounts payable after more than one year | 17 | €32,607 | €22,681 | -€9,926 | -30.4% |
| Financial debts | 170/4 | €32,607 | €22,681 | -€9,926 | -30.4% |
| Amounts payable within one year | 42/48 | €44,789 | €47,745 | +€2,955 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €10,052 | €9,926 | -€126 | -1.3% |
| Trade debts | 44 | €1,606 | €6,346 | +€4,741 | +295% |
| Suppliers | 440/4 | €1,606 | €6,346 | +€4,741 | +295% |
| Taxes, remuneration and social security | 45 | €9,071 | €7,034 | -€2,037 | -22.5% |
| Taxes | 450/3 | €9,071 | €5,758 | -€3,313 | -36.5% |
| Remuneration and social security | 454/9 | - | €1,276 | +€1,276 | |
| Other amounts payable | 47/48 | €24,061 | €24,438 | +€378 | +1.6% |
| Remuneration, social security and pensions | 62 | €3,612 | €3,238 | -€373 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,769 | €22,228 | +€5,459 | +32.6% |
| Other operating charges | 640/8 | €2,448 | €1,425 | -€1,023 | -41.8% |
| Gross operating margin | 9900 | €63,907 | €70,483 | +€6,577 | +10.3% |
| Operating profit (loss) | 9901 | €41,078 | €43,592 | +€2,514 | +6.1% |
| Financial income | 75/76B | €224 | - | -€224 | |
| Recurring financial income | 75 | €224 | - | -€224 | |
| Non-recurring financial income | 76B | €224 | - | -€224 | |
| Financial charges | 65/66B | €1,439 | €1,173 | -€266 | -18.5% |
| Recurring financial charges | 65 | €1,439 | €1,173 | -€266 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €39,864 | €42,420 | +€2,556 | +6.4% |
| Income taxes | 67/77 | €9,000 | €9,950 | +€950 | +10.6% |
| Profit (loss) for the period | 9904 | €30,864 | €32,469 | +€1,606 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,864 | €32,469 | +€1,606 | +5.2% |
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 29 October 2026 via checked.be.