ELECTRO - PIECES WATERLOO: 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.
ELECTRO - PIECES WATERLOO
Largest movements
- Cash +€31,074
up €31,074 (+77.0%), from €40,339 to €71,413
mainly Net result for the year (+€16,748) and Advances received (+€12,232)
- Tangible fixed assets -€11,571
down €11,571 (-6.6%), from €176,369 to €164,798
of which Furniture and vehicles: -€7,108
- Receivables within one year +€11,220
up €11,220 (+601.4%), from €1,866 to €13,086
of which Trade receivables: +€10,437
- Stocks and contracts -€7,928
down €7,928 (-32.3%), from €24,537 to €16,609
- Profit (loss) carried forward +€16,748
up €16,748 (+40.9%), from €40,900 to €57,648
- Debts after one year -€16,322
down €16,322 (-10.9%), from €150,403 to €134,081
- Advances received +€12,232
new in 2025: €12,232
- Other debts +€9,921
up €9,921 (+70.0%), from €14,171 to €24,092
- Trade debts -€2,843
down €2,843 (-18.7%), from €15,213 to €12,370
- Staff costs -€20,499
down €20,499 (-36.8%), from €55,776 to €35,277
- Gross operating margin +€2,927
up €2,927 (+4.5%), from €65,006 to €67,932
- Depreciation -€1,844
down €1,844 (-13.7%), from €13,415 to €11,571
- Other operating charges -€1,346
down €1,346 (-52.0%), from €2,587 to €1,241
- Taxes -€1,211
down €1,211, from €452 to -€759
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 | €245,343 | €267,126 | +€21,783 | +8.9% |
| Fixed assets | 21/28 | €176,419 | €164,848 | -€11,571 | -6.6% |
| Tangible fixed assets | 22/27 | €176,369 | €164,798 | -€11,571 | -6.6% |
| Land and buildings | 22 | €168,429 | €163,966 | -€4,463 | -2.6% |
| Furniture and vehicles | 24 | €7,940 | €832 | -€7,108 | -89.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €68,924 | €102,278 | +€33,354 | +48.4% |
| Stocks and contracts in progress | 3 | €24,537 | €16,609 | -€7,928 | -32.3% |
| Stocks | 30/36 | €24,537 | €16,609 | -€7,928 | -32.3% |
| Amounts receivable within one year | 40/41 | €1,866 | €13,086 | +€11,220 | +601.4% |
| Trade receivables | 40 | €856 | €11,292 | +€10,437 | +1219.6% |
| Other amounts receivable | 41 | €1,010 | €1,794 | +€784 | +77.6% |
| Cash at bank and in hand | 54/58 | €40,339 | €71,413 | +€31,074 | +77.0% |
| Deferred charges and accrued income | 490/1 | €2,183 | €1,170 | -€1,013 | -46.4% |
| Total equity and liabilities | 10/49 | €245,343 | €267,126 | +€21,783 | +8.9% |
| Equity | 10/15 | €61,360 | €78,108 | +€16,748 | +27.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,900 | €57,648 | +€16,748 | +40.9% |
| Amounts payable | 17/49 | €183,983 | €189,019 | +€5,036 | +2.7% |
| Amounts payable after more than one year | 17 | €150,403 | €134,081 | -€16,322 | -10.9% |
| Financial debts | 170/4 | €150,403 | €134,081 | -€16,322 | -10.9% |
| Amounts payable within one year | 42/48 | €33,580 | €54,938 | +€21,358 | +63.6% |
| Trade debts | 44 | €15,213 | €12,370 | -€2,843 | -18.7% |
| Suppliers | 440/4 | €15,213 | €12,370 | -€2,843 | -18.7% |
| Advances received on contracts in progress | 46 | - | €12,232 | +€12,232 | |
| Taxes, remuneration and social security | 45 | €4,196 | €6,244 | +€2,048 | +48.8% |
| Taxes | 450/3 | €903 | €1,817 | +€915 | +101.3% |
| Remuneration and social security | 454/9 | €3,294 | €4,427 | +€1,133 | +34.4% |
| Other amounts payable | 47/48 | €14,171 | €24,092 | +€9,921 | +70.0% |
| Remuneration, social security and pensions | 62 | €55,776 | €35,277 | -€20,499 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,415 | €11,571 | -€1,844 | -13.7% |
| Other operating charges | 640/8 | €2,587 | €1,241 | -€1,346 | -52.0% |
| Gross operating margin | 9900 | €65,006 | €67,932 | +€2,927 | +4.5% |
| Operating profit (loss) | 9901 | -€6,773 | €19,844 | +€26,617 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €4,083 | €3,855 | -€228 | -5.6% |
| Recurring financial charges | 65 | €4,083 | €3,855 | -€228 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,854 | €15,989 | +€26,843 | |
| Income taxes | 67/77 | €452 | -€759 | -€1,211 | |
| Profit (loss) for the period | 9904 | -€11,306 | €16,748 | +€28,054 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,306 | €16,748 | +€28,054 |
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 8 October 2026 via checked.be.