General Waterproofing Solutions: what changed
What changed
General Waterproofing Solutions
NACE 43.421, Specialised construction activities
filed annual accounts (NBB)
Net result for the year
-€27,254
2024 · €20,032-€47,286
Equity
€103,543
2024 · €430,797-€327,254
Cash
€16,661
2024 · €8,892+€7,769
Balance sheet total
€986,071
2024 · €1.2m-€254,379
Largest movements
Assets
- Receivables within one year -€319,315
down €319,315 (-26.6%), from €1.2m to €882,355
of which Other amounts receivable: -€245,928
- Stocks and contracts +€66,250
new in 2025: €66,250
Equity and liabilities
- Reserves -€300,000
down €300,000 (-73.1%), from €410,337 to €110,337
- Other debts +€120,660
up €120,660 (+135%), from €89,277 to €209,937
- Profit (loss) carried forward -€27,254
new in 2025: -€27,254
- Tax, wage and social debts -€24,010
down €24,010 (-15.5%), from €154,772 to €130,762
of which Taxes: -€18,684
- Trade debts -€20,184
down €20,184 (-4.7%), from €432,180 to €411,996
Income statement
- Gross operating margin -€97,092
down €97,092 (-35.5%), from €273,146 to €176,053
- Staff costs -€66,755
down €66,755 (-31.5%), from €212,235 to €145,480
- Other operating charges +€52,942
up €52,942 (+8,976%), from €590 to €53,532
- Taxes -€22,324
down €22,324 (-66.7%), from €33,458 to €11,133
- Financial charges -€12,262
down €12,262 (-33.5%), from €36,644 to €24,382
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€20,032
Gross operating margin
-€97,092
Staff costs
+€66,755
Depreciation
+€850
Other operating charges
-€52,942
Financial income
+€557
Financial charges
+€12,262
Taxes
+€22,324
Result 2025
-€27,254
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€313,859
Investment
-€2,500
Financing
-€303,590
Cash 2024
€8,892
From operations (derived)
+€313,859
Net result for the year
-€27,254
Depreciation
+€11,583
Stocks and contracts
-€66,250
Receivables within one year
+€319,315
Trade debts
-€20,184
Tax, wage and social debts
-€24,010
Other debts
+€120,660
Investment (derived)
-€2,500
Investment in fixed assets (net)
-€2,500
Financing
-€303,590
Current portion of long-term debt
-€8,425
Short-term financial debts
+€4,834
Contributions, distributions and other
-€300,000
Cash 2025
€16,661
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,240,450 | €986,071 | -€254,379 | -20.5% |
| Fixed assets | 21/28 | €29,888 | €20,805 | -€9,083 | -30.4% |
| Intangible fixed assets | 21 | - | €2,083 | +€2,083 | |
| Tangible fixed assets | 22/27 | €29,888 | €18,722 | -€11,166 | -37.4% |
| Plant, machinery and equipment | 23 | €18,320 | €8,447 | -€9,873 | -53.9% |
| Furniture and vehicles | 24 | €1,008 | €403 | -€605 | -60.0% |
| Leasing and similar rights | 25 | €9,283 | €9,283 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,277 | €589 | -€688 | -53.9% |
| Current assets | 29/58 | €1,210,562 | €965,266 | -€245,296 | -20.3% |
| Stocks and contracts in progress | 3 | - | €66,250 | +€66,250 | |
| Stocks | 30/36 | - | €66,250 | +€66,250 | |
| Amounts receivable within one year | 40/41 | €1,201,670 | €882,355 | -€319,315 | -26.6% |
| Trade receivables | 40 | €73,387 | €0 | -€73,387 | -100% |
| Other amounts receivable | 41 | €1,128,283 | €882,355 | -€245,928 | -21.8% |
| Cash at bank and in hand | 54/58 | €8,892 | €16,661 | +€7,769 | +87.4% |
| Total equity and liabilities | 10/49 | €1,240,450 | €986,071 | -€254,379 | -20.5% |
| Equity | 10/15 | €430,797 | €103,543 | -€327,254 | -76.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €410,337 | €110,337 | -€300,000 | -73.1% |
| Distributable reserves | 133 | €410,337 | €110,337 | -€300,000 | -73.1% |
| Profit (loss) carried forward | 14 | - | -€27,254 | -€27,254 | |
| Amounts payable | 17/49 | €809,653 | €882,528 | +€72,875 | +9.0% |
| Amounts payable within one year | 42/48 | €809,653 | €882,528 | +€72,875 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €133,425 | €125,000 | -€8,425 | -6.3% |
| Financial debts | 43 | - | €4,834 | +€4,834 | |
| Other loans | 439 | - | €4,834 | +€4,834 | |
| Trade debts | 44 | €432,180 | €411,996 | -€20,184 | -4.7% |
| Suppliers | 440/4 | €432,180 | €411,996 | -€20,184 | -4.7% |
| Taxes, remuneration and social security | 45 | €154,772 | €130,762 | -€24,010 | -15.5% |
| Taxes | 450/3 | €148,380 | €129,696 | -€18,684 | -12.6% |
| Remuneration and social security | 454/9 | €6,392 | €1,065 | -€5,327 | -83.3% |
| Other amounts payable | 47/48 | €89,277 | €209,937 | +€120,660 | +135% |
| Remuneration, social security and pensions | 62 | €212,235 | €145,480 | -€66,755 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,432 | €11,583 | -€850 | -6.8% |
| Other operating charges | 640/8 | €590 | €53,532 | +€52,942 | +8,976% |
| Gross operating margin | 9900 | €273,146 | €176,053 | -€97,092 | -35.5% |
| Operating profit (loss) | 9901 | €47,889 | -€34,541 | -€82,430 | |
| Financial income | 75/76B | €42,245 | €42,802 | +€557 | +1.3% |
| Recurring financial income | 75 | €42,245 | €42,802 | +€557 | +1.3% |
| Financial charges | 65/66B | €36,644 | €24,382 | -€12,262 | -33.5% |
| Recurring financial charges | 65 | €36,644 | €24,382 | -€12,262 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €53,490 | -€16,120 | -€69,610 | |
| Income taxes | 67/77 | €33,458 | €11,133 | -€22,324 | -66.7% |
| Profit (loss) for the period | 9904 | €20,032 | -€27,254 | -€47,286 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,032 | -€27,254 | -€47,286 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.