i-Water: 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.
i-Water
Largest movements
- Cash +€63,692
up €63,692 (+13111.6%), from €486 to €64,178
mainly Other debts (+€97,070) and Trade debts (+€41,934)
- Intangible fixed assets +€58,730
up €58,730 (+277.2%), from €21,184 to €79,914
- Receivables within one year +€24,330
up €24,330 (+815.0%), from €2,985 to €27,316
of which Trade receivables: +€24,798
- Other debts +€97,070
up €97,070 (+250.5%), from €38,750 to €135,820
- Trade debts +€41,934
up €41,934 (+42789.4%), from €98 to €42,032
- Accrued charges and deferred income +€6,665
new in 2025: €6,665
- Gross operating margin -€7,043
down €7,043 (-38.2%), from €18,418 to €11,375
- Depreciation +€4,113
up €4,113 (+81.9%), from €5,023 to €9,136
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 | €44,655 | €191,957 | +€147,303 | +329.9% |
| Fixed assets | 21/28 | €21,184 | €79,914 | +€58,730 | +277.2% |
| Intangible fixed assets | 21 | €21,184 | €79,914 | +€58,730 | +277.2% |
| Current assets | 29/58 | €23,471 | €112,044 | +€88,573 | +377.4% |
| Amounts receivable within one year | 40/41 | €2,985 | €27,316 | +€24,330 | +815.0% |
| Trade receivables | 40 | - | €24,798 | +€24,798 | |
| Other amounts receivable | 41 | €2,985 | €2,518 | -€467 | -15.7% |
| Cash at bank and in hand | 54/58 | €486 | €64,178 | +€63,692 | +13111.6% |
| Deferred charges and accrued income | 490/1 | €20,000 | €20,550 | +€550 | +2.8% |
| Total equity and liabilities | 10/49 | €44,655 | €191,957 | +€147,303 | +329.9% |
| Equity | 10/15 | €5,722 | €7,356 | +€1,634 | +28.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,622 | €7,256 | +€1,634 | +29.1% |
| Amounts payable | 17/49 | €38,933 | €184,602 | +€145,669 | +374.2% |
| Amounts payable within one year | 42/48 | €38,933 | €177,936 | +€139,004 | +357.0% |
| Trade debts | 44 | €98 | €42,032 | +€41,934 | +42789.4% |
| Suppliers | 440/4 | €98 | €42,032 | +€41,934 | +42789.4% |
| Taxes, remuneration and social security | 45 | €85 | €85 | = | 0.0% |
| Taxes | 450/3 | €85 | €85 | = | 0.0% |
| Other amounts payable | 47/48 | €38,750 | €135,820 | +€97,070 | +250.5% |
| Accrued charges and deferred income | 492/3 | - | €6,665 | +€6,665 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,023 | €9,136 | +€4,113 | +81.9% |
| Other operating charges | 640/8 | €462 | €559 | +€97 | +21.0% |
| Gross operating margin | 9900 | €18,418 | €11,375 | -€7,043 | -38.2% |
| Operating profit (loss) | 9901 | €12,933 | €1,680 | -€11,253 | -87.0% |
| Financial charges | 65/66B | €42 | €46 | +€4 | +9.1% |
| Recurring financial charges | 65 | €42 | €46 | +€4 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €12,890 | €1,634 | -€11,256 | -87.3% |
| Income taxes | 67/77 | €85 | €0 | -€85 | -100.0% |
| Profit (loss) for the period | 9904 | €12,806 | €1,634 | -€11,172 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,806 | €1,634 | -€11,172 | -87.2% |
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 7 October 2026 via checked.be.