DE WATERLELIE: 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 WATERLELIE
Largest movements
- Tangible fixed assets +€10,182
up €10,182 (+72.6%), from €14,022 to €24,204
of which Furniture and vehicles: +€10,531
- Cash +€7,586
up €7,586 (+19.6%), from €38,666 to €46,251
mainly Net result for the year (+€23,836) and Tax, wage and social debts (+€11,024)
- Profit (loss) carried forward +€19,686
up €19,686 (+39.2%), from -€50,164 to -€30,478
- Tax, wage and social debts +€11,024
up €11,024 (+147%), from €7,475 to €18,499
of which Taxes: +€10,665
- Other debts -€7,886
down €7,886 (-99.7%), from €7,909 to €23
- Current portion of long-term debt -€3,691
down €3,691 (-100%), from €3,691 to €0
- Trade debts -€1,556
down €1,556 (-50.3%), from €3,092 to €1,536
of which Bills of exchange payable: -€3,092
- Gross operating margin +€7,202
up €7,202 (+10.3%), from €70,065 to €77,267
- Financial income +€3,232
up €3,232 (+1,204%), from €268 to €3,500
of which Non-recurring financial income: +€3,140
- Staff costs +€3,062
up €3,062 (+8.6%), from €35,721 to €38,783
- Depreciation -€2,201
down €2,201 (-44.9%), from €4,902 to €2,701
- Taxes +€1,671
up €1,671 (+21.6%), from €7,743 to €9,414
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 | €59,129 | €76,706 | +€17,577 | +29.7% |
| Fixed assets | 21/28 | €14,275 | €24,457 | +€10,182 | +71.3% |
| Tangible fixed assets | 22/27 | €14,022 | €24,204 | +€10,182 | +72.6% |
| Plant, machinery and equipment | 23 | €1,214 | €866 | -€349 | -28.7% |
| Furniture and vehicles | 24 | €12,808 | €23,339 | +€10,531 | +82.2% |
| Financial fixed assets | 28 | €253 | €253 | = | 0.0% |
| Current assets | 29/58 | €44,854 | €52,249 | +€7,395 | +16.5% |
| Stocks and contracts in progress | 3 | €1,692 | €1,516 | -€176 | -10.4% |
| Stocks | 30/36 | €1,692 | €1,516 | -€176 | -10.4% |
| Amounts receivable within one year | 40/41 | €3,759 | €4,482 | +€723 | +19.2% |
| Trade receivables | 40 | €3,403 | €4,482 | +€1,079 | +31.7% |
| Other amounts receivable | 41 | €356 | €0 | -€356 | -100% |
| Cash at bank and in hand | 54/58 | €38,666 | €46,251 | +€7,586 | +19.6% |
| Deferred charges and accrued income | 490/1 | €738 | €0 | -€738 | -100% |
| Total equity and liabilities | 10/49 | €59,129 | €76,706 | +€17,577 | +29.7% |
| Equity | 10/15 | €36,962 | €56,648 | +€19,686 | +53.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €25,126 | €25,126 | = | 0.0% |
| Non-distributable reserves | 130/1 | €372 | €372 | = | 0.0% |
| Legal reserve | 130 | €372 | €372 | = | 0.0% |
| Distributable reserves | 133 | €24,754 | €24,754 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,164 | -€30,478 | +€19,686 | +39.2% |
| Amounts payable | 17/49 | €22,168 | €20,058 | -€2,109 | -9.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €22,168 | €20,058 | -€2,109 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €3,691 | €0 | -€3,691 | -100% |
| Trade debts | 44 | €3,092 | €1,536 | -€1,556 | -50.3% |
| Suppliers | 440/4 | €0 | €1,536 | +€1,536 | |
| Bills of exchange payable | 441 | €3,092 | €0 | -€3,092 | -100% |
| Taxes, remuneration and social security | 45 | €7,475 | €18,499 | +€11,024 | +147% |
| Taxes | 450/3 | €5,048 | €15,713 | +€10,665 | +211% |
| Remuneration and social security | 454/9 | €2,427 | €2,786 | +€359 | +14.8% |
| Other amounts payable | 47/48 | €7,909 | €23 | -€7,886 | -99.7% |
| Remuneration, social security and pensions | 62 | €35,721 | €38,783 | +€3,062 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,902 | €2,701 | -€2,201 | -44.9% |
| Other operating charges | 640/8 | €302 | €470 | +€168 | +55.4% |
| Non-recurring operating charges | 66A | - | €5,055 | +€5,055 | |
| Gross operating margin | 9900 | €70,065 | €77,267 | +€7,202 | +10.3% |
| Operating profit (loss) | 9901 | €29,139 | €30,258 | +€1,119 | +3.8% |
| Financial income | 75/76B | €268 | €3,500 | +€3,232 | +1,204% |
| Recurring financial income | 75 | €268 | €360 | +€92 | +34.2% |
| Non-recurring financial income | 76B | - | €3,140 | +€3,140 | |
| Financial charges | 65/66B | €940 | €508 | -€432 | -46.0% |
| Recurring financial charges | 65 | €940 | €508 | -€432 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €28,467 | €33,250 | +€4,783 | +16.8% |
| Income taxes | 67/77 | €7,743 | €9,414 | +€1,671 | +21.6% |
| Profit (loss) for the period | 9904 | €20,724 | €23,836 | +€3,112 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,724 | €23,836 | +€3,112 | +15.0% |
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 31 October 2026 via checked.be.