EQUIWAT: 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.
EQUIWAT
Largest movements
- Tangible fixed assets +€275,919
up €275,919 (+164.8%), from €167,402 to €443,321
of which Land and buildings: +€246,129
- Receivables within one year +€10,380
up €10,380 (+26.6%), from €39,043 to €49,423
of which Trade receivables: +€14,876
- Debts after one year +€244,982
up €244,982 (+474.2%), from €51,666 to €296,648
- Other debts +€87,721
up €87,721 (+85166.0%), from €103 to €87,824
- Profit (loss) carried forward -€45,816
down €45,816, from €4,191 to -€41,625
- Current portion of long-term debt +€36,720
up €36,720 (+183.6%), from €20,000 to €56,720
- Tax, wage and social debts -€34,436
down €34,436 (-99.2%), from €34,702 to €266
- Turnover -€108,161
down €108,161 (-16.0%), from €674,272 to €566,111
- Depreciation +€61,103
up €61,103 (+204.2%), from €29,923 to €91,026
- Purchases and services -€54,793
down €54,793 (-9.7%), from €562,417 to €507,624
- Gross operating margin -€53,368
down €53,368 (-47.7%), from €111,855 to €58,487
- Taxes -€18,506
down €18,506, from €17,510 to -€996
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 | €268,797 | €554,376 | +€285,579 | +106.2% |
| Fixed assets | 21/28 | €168,042 | €443,846 | +€275,804 | +164.1% |
| Tangible fixed assets | 22/27 | €167,402 | €443,321 | +€275,919 | +164.8% |
| Land and buildings | 22 | - | €246,129 | +€246,129 | |
| Plant, machinery and equipment | 23 | €19,083 | €86,439 | +€67,356 | +353.0% |
| Furniture and vehicles | 24 | €144,583 | €108,395 | -€36,188 | -25.0% |
| Other tangible fixed assets | 26 | €3,736 | €2,358 | -€1,378 | -36.9% |
| Financial fixed assets | 28 | €640 | €525 | -€115 | -18.0% |
| Current assets | 29/58 | €100,755 | €110,530 | +€9,775 | +9.7% |
| Amounts receivable within one year | 40/41 | €39,043 | €49,423 | +€10,380 | +26.6% |
| Trade receivables | 40 | €18,165 | €33,041 | +€14,876 | +81.9% |
| Other amounts receivable | 41 | €20,878 | €16,382 | -€4,496 | -21.5% |
| Cash at bank and in hand | 54/58 | €61,712 | €57,926 | -€3,786 | -6.1% |
| Deferred charges and accrued income | 490/1 | - | €3,181 | +€3,181 | |
| Total equity and liabilities | 10/49 | €268,797 | €554,376 | +€285,579 | +106.2% |
| Equity | 10/15 | €134,191 | €88,375 | -€45,816 | -34.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €120,000 | €120,000 | = | 0.0% |
| Distributable reserves | 133 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,191 | -€41,625 | -€45,816 | |
| Amounts payable | 17/49 | €134,606 | €466,001 | +€331,395 | +246.2% |
| Amounts payable after more than one year | 17 | €51,666 | €296,648 | +€244,982 | +474.2% |
| Financial debts | 170/4 | €51,666 | €296,648 | +€244,982 | +474.2% |
| Amounts payable within one year | 42/48 | €82,940 | €169,353 | +€86,413 | +104.2% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €56,720 | +€36,720 | +183.6% |
| Trade debts | 44 | €11,135 | €24,543 | +€13,408 | +120.4% |
| Suppliers | 440/4 | €11,135 | €24,543 | +€13,408 | +120.4% |
| Advances received on contracts in progress | 46 | €17,000 | - | -€17,000 | |
| Taxes, remuneration and social security | 45 | €34,702 | €266 | -€34,436 | -99.2% |
| Taxes | 450/3 | €34,702 | €266 | -€34,436 | -99.2% |
| Other amounts payable | 47/48 | €103 | €87,824 | +€87,721 | +85166.0% |
| Turnover | 70 | €674,272 | €566,111 | -€108,161 | -16.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €562,417 | €507,624 | -€54,793 | -9.7% |
| Remuneration, social security and pensions | 62 | -€1,222 | - | +€1,222 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,923 | €91,026 | +€61,103 | +204.2% |
| Other operating charges | 640/8 | €1,930 | €4,085 | +€2,155 | +111.7% |
| Gross operating margin | 9900 | €111,855 | €58,487 | -€53,368 | -47.7% |
| Operating profit (loss) | 9901 | €81,224 | -€36,624 | -€117,848 | |
| Financial charges | 65/66B | €2,754 | €10,188 | +€7,434 | +269.9% |
| Recurring financial charges | 65 | €2,754 | €10,188 | +€7,434 | +269.9% |
| Profit (loss) for the period before taxes | 9903 | €78,470 | -€46,812 | -€125,282 | |
| Income taxes | 67/77 | €17,510 | -€996 | -€18,506 | |
| Profit (loss) for the period | 9904 | €60,960 | -€45,816 | -€106,776 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,960 | -€45,816 | -€106,776 |
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 12 October 2026 via checked.be.