HET WATERHUIS: what changed
HET WATERHUIS
Largest movements
- Tangible fixed assets +€65,388
up €65,388 (+91.6%), from €71,397 to €136,786
of which Plant, machinery and equipment: +€81,975
- Receivables within one year +€12,983
up €12,983 (+119%), from €10,887 to €23,870
of which Other amounts receivable: +€17,756
- Cash +€12,446
up €12,446 (+197%), from €6,308 to €18,755
mainly Trade debts (+€92,498) and Other debts (+€57,201)
- Deferred charges and accrued income -€2,127
down €2,127 (-52.7%), from €4,033 to €1,906
- Trade debts +€92,498
up €92,498 (+892%), from €10,374 to €102,872
- Other debts +€57,201
up €57,201 (+37.6%), from €152,297 to €209,498
- Profit (loss) carried forward -€47,849
down €47,849 (-35.5%), from -€134,876 to -€182,725
- Debts after one year -€7,173
no longer reported in 2025 (was €7,173)
- Current portion of long-term debt -€5,016
down €5,016 (-41.2%), from €12,189 to €7,173
- Gross operating margin -€12,082
down €12,082 (-72.5%), from -€16,654 to -€28,735
- Depreciation -€11,829
down €11,829 (-55.7%), from €21,239 to €9,410
- Other operating charges +€4,420
up €4,420 (+953%), from €464 to €4,883
- Financial charges +€2,956
up €2,956 (+216%), from €1,366 to €4,322
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €92,626 | €181,316 | +€88,690 | +95.7% |
| Fixed assets | 21/28 | €71,397 | €136,786 | +€65,388 | +91.6% |
| Tangible fixed assets | 22/27 | €71,397 | €136,786 | +€65,388 | +91.6% |
| Plant, machinery and equipment | 23 | €1,371 | €83,345 | +€81,975 | +5,980% |
| Furniture and vehicles | 24 | €70,027 | €53,440 | -€16,587 | -23.7% |
| Current assets | 29/58 | €21,229 | €44,531 | +€23,302 | +110% |
| Amounts receivable within one year | 40/41 | €10,887 | €23,870 | +€12,983 | +119% |
| Trade receivables | 40 | €9,150 | €4,377 | -€4,773 | -52.2% |
| Other amounts receivable | 41 | €1,737 | €19,493 | +€17,756 | +1,022% |
| Cash at bank and in hand | 54/58 | €6,308 | €18,755 | +€12,446 | +197% |
| Deferred charges and accrued income | 490/1 | €4,033 | €1,906 | -€2,127 | -52.7% |
| Total equity and liabilities | 10/49 | €92,626 | €181,316 | +€88,690 | +95.7% |
| Equity | 10/15 | -€90,876 | -€138,725 | -€47,849 | -52.7% |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,876 | -€182,725 | -€47,849 | -35.5% |
| Amounts payable | 17/49 | €183,503 | €320,041 | +€136,539 | +74.4% |
| Amounts payable after more than one year | 17 | €7,173 | - | -€7,173 | |
| Financial debts | 170/4 | €7,173 | - | -€7,173 | |
| Amounts payable within one year | 42/48 | €176,329 | €320,041 | +€143,712 | +81.5% |
| Current portion of amounts payable after more than one year | 42 | €12,189 | €7,173 | -€5,016 | -41.2% |
| Trade debts | 44 | €10,374 | €102,872 | +€92,498 | +892% |
| Suppliers | 440/4 | €10,374 | €102,872 | +€92,498 | +892% |
| Taxes, remuneration and social security | 45 | €1,469 | €499 | -€971 | -66.1% |
| Taxes | 450/3 | €1,469 | €499 | -€971 | -66.1% |
| Other amounts payable | 47/48 | €152,297 | €209,498 | +€57,201 | +37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,239 | €9,410 | -€11,829 | -55.7% |
| Other operating charges | 640/8 | €464 | €4,883 | +€4,420 | +953% |
| Gross operating margin | 9900 | -€16,654 | -€28,735 | -€12,082 | -72.5% |
| Operating profit (loss) | 9901 | -€38,357 | -€43,029 | -€4,672 | -12.2% |
| Financial charges | 65/66B | €1,366 | €4,322 | +€2,956 | +216% |
| Recurring financial charges | 65 | €1,366 | €4,322 | +€2,956 | +216% |
| Profit (loss) for the period before taxes | 9903 | -€39,723 | -€47,350 | -€7,628 | -19.2% |
| Income taxes | 67/77 | €297 | €499 | +€201 | +67.8% |
| Profit (loss) for the period | 9904 | -€40,020 | -€47,849 | -€7,829 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,020 | -€47,849 | -€7,829 | -19.6% |
Next steps
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.