IMMO WATERLANE: 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.
IMMO WATERLANE
Largest movements
- Cash -€61,230
down €61,230 (-51.1%), from €119,935 to €58,705
mainly Net result for the year (-€95,810) and Receivables within one year (-€18,592)
- Receivables within one year +€18,592
up €18,592 (+55.5%), from €33,527 to €52,118
of which Trade receivables: +€9,536
- Tangible fixed assets -€8,592
down €8,592 (-31.7%), from €27,118 to €18,526
of which Furniture and vehicles: -€7,035
- Intangible fixed assets -€5,570
down €5,570 (-64.2%), from €8,672 to €3,102
- Formation expenses -€2,995
down €2,995 (-66.7%), from €4,489 to €1,494
- Profit (loss) carried forward -€95,810
down €95,810 (-138%), from -€69,506 to -€165,316
- Trade debts +€41,361
up €41,361 (+196%), from €21,072 to €62,433
- Advances received +€21,763
up €21,763 (+13.1%), from €166,688 to €188,450
- Current portion of long-term debt -€17,032
down €17,032 (-91.6%), from €18,602 to €1,570
- Tax, wage and social debts -€5,898
down €5,898 (-34.1%), from €17,298 to €11,400
of which Taxes: -€9,783
- Gross operating margin -€164,625
down €164,625 (-91.3%), from €180,246 to €15,620
- Staff costs -€39,282
down €39,282 (-32.3%), from €121,513 to €82,231
- Financial charges -€2,365
down €2,365 (-44.8%), from €5,280 to €2,915
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.
Derived cash bridge
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 | €193,915 | €134,545 | -€59,369 | -30.6% |
| Formation expenses | 20 | €4,489 | €1,494 | -€2,995 | -66.7% |
| Fixed assets | 21/28 | €35,965 | €22,158 | -€13,806 | -38.4% |
| Intangible fixed assets | 21 | €8,672 | €3,102 | -€5,570 | -64.2% |
| Tangible fixed assets | 22/27 | €27,118 | €18,526 | -€8,592 | -31.7% |
| Furniture and vehicles | 24 | €11,950 | €4,916 | -€7,035 | -58.9% |
| Other tangible fixed assets | 26 | €15,167 | €13,610 | -€1,557 | -10.3% |
| Financial fixed assets | 28 | €175 | €531 | +€356 | +203% |
| Current assets | 29/58 | €153,461 | €110,893 | -€42,568 | -27.7% |
| Amounts receivable within one year | 40/41 | €33,527 | €52,118 | +€18,592 | +55.5% |
| Trade receivables | 40 | €33,527 | €43,062 | +€9,536 | +28.4% |
| Other amounts receivable | 41 | - | €9,056 | +€9,056 | |
| Cash at bank and in hand | 54/58 | €119,935 | €58,705 | -€61,230 | -51.1% |
| Deferred charges and accrued income | 490/1 | - | €70 | +€70 | |
| Total equity and liabilities | 10/49 | €193,915 | €134,545 | -€59,369 | -30.6% |
| Equity | 10/15 | -€33,506 | -€129,316 | -€95,810 | -286% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,506 | -€165,316 | -€95,810 | -138% |
| Amounts payable | 17/49 | €227,421 | €263,861 | +€36,441 | +16.0% |
| Amounts payable after more than one year | 17 | €1,570 | - | -€1,570 | |
| Financial debts | 170/4 | €1,570 | - | -€1,570 | |
| Amounts payable within one year | 42/48 | €224,200 | €263,861 | +€39,661 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €18,602 | €1,570 | -€17,032 | -91.6% |
| Trade debts | 44 | €21,072 | €62,433 | +€41,361 | +196% |
| Suppliers | 440/4 | €21,072 | €62,433 | +€41,361 | +196% |
| Advances received on contracts in progress | 46 | €166,688 | €188,450 | +€21,763 | +13.1% |
| Taxes, remuneration and social security | 45 | €17,298 | €11,400 | -€5,898 | -34.1% |
| Taxes | 450/3 | €9,783 | - | -€9,783 | |
| Remuneration and social security | 454/9 | €7,514 | €11,400 | +€3,885 | +51.7% |
| Other amounts payable | 47/48 | €541 | €8 | -€533 | -98.4% |
| Accrued charges and deferred income | 492/3 | €1,650 | - | -€1,650 | |
| Remuneration, social security and pensions | 62 | €121,513 | €82,231 | -€39,282 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,647 | €17,157 | -€490 | -2.8% |
| Other operating charges | 640/8 | €1,407 | €1,141 | -€266 | -18.9% |
| Non-recurring operating charges | 66A | €2,901 | €7,996 | +€5,094 | +176% |
| Gross operating margin | 9900 | €180,246 | €15,620 | -€164,625 | -91.3% |
| Operating profit (loss) | 9901 | €36,777 | -€92,904 | -€129,681 | |
| Financial income | 75/76B | €114 | €9 | -€104 | -91.7% |
| Recurring financial income | 75 | €114 | €9 | -€104 | -91.7% |
| Financial charges | 65/66B | €5,280 | €2,915 | -€2,365 | -44.8% |
| Recurring financial charges | 65 | €5,280 | €2,915 | -€2,365 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €31,611 | -€95,810 | -€127,421 | |
| Profit (loss) for the period | 9904 | €31,611 | -€95,810 | -€127,421 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,611 | -€95,810 | -€127,421 |
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 25 October 2026 via checked.be.