J. WAUTERS: 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.
J. WAUTERS
Largest movements
- Receivables within one year -€3,230
down €3,230 (-46.1%), from €7,000 to €3,770
- Profit (loss) carried forward +€15,176
up €15,176 (+10.8%), from €140,858 to €156,034
- Other debts -€7,850
down €7,850 (-8.3%), from €94,589 to €86,739
- Debts after one year -€3,586
down €3,586 (-54.0%), from €6,643 to €3,057
of which Financial debts: -€3,916
- Purchases and services -€12,667
down €12,667 (-13.4%), from €94,280 to €81,613
- Taxes -€10,881
down €10,881 (-80.1%), from €13,579 to €2,698
- Turnover -€9,968
down €9,968 (-6.4%), from €155,352 to €145,384
- Gross operating margin +€2,699
up €2,699 (+4.4%), from €61,072 to €63,771
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 | €289,442 | €290,650 | +€1,208 | +0.4% |
| Fixed assets | 21/28 | €59,066 | €58,926 | -€141 | -0.2% |
| Tangible fixed assets | 22/27 | €59,066 | €58,926 | -€141 | -0.2% |
| Land and buildings | 22 | €25,754 | €23,624 | -€2,129 | -8.3% |
| Plant, machinery and equipment | 23 | €33,036 | €34,468 | +€1,432 | +4.3% |
| Furniture and vehicles | 24 | €277 | €833 | +€556 | +201% |
| Current assets | 29/58 | €230,376 | €231,724 | +€1,348 | +0.6% |
| Stocks and contracts in progress | 3 | €174,813 | €176,601 | +€1,788 | +1.0% |
| Stocks | 30/36 | €174,813 | €176,601 | +€1,788 | +1.0% |
| Amounts receivable within one year | 40/41 | €7,000 | €3,770 | -€3,230 | -46.1% |
| Trade receivables | 40 | €7,000 | €3,770 | -€3,230 | -46.1% |
| Cash at bank and in hand | 54/58 | €48,563 | €51,353 | +€2,790 | +5.7% |
| Total equity and liabilities | 10/49 | €289,442 | €290,650 | +€1,208 | +0.4% |
| Equity | 10/15 | €180,310 | €195,486 | +€15,176 | +8.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €20,859 | €20,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,858 | €156,034 | +€15,176 | +10.8% |
| Amounts payable | 17/49 | €109,133 | €95,164 | -€13,968 | -12.8% |
| Amounts payable after more than one year | 17 | €6,643 | €3,057 | -€3,586 | -54.0% |
| Financial debts | 170/4 | €5,923 | €2,007 | -€3,916 | -66.1% |
| Other amounts payable | 178/9 | €720 | €1,050 | +€330 | +45.8% |
| Amounts payable within one year | 42/48 | €102,490 | €92,107 | -€10,382 | -10.1% |
| Trade debts | 44 | €310 | €493 | +€183 | +59.0% |
| Suppliers | 440/4 | €310 | €493 | +€183 | +59.0% |
| Taxes, remuneration and social security | 45 | €7,591 | €4,875 | -€2,715 | -35.8% |
| Taxes | 450/3 | €7,591 | €4,875 | -€2,715 | -35.8% |
| Other amounts payable | 47/48 | €94,589 | €86,739 | -€7,850 | -8.3% |
| Turnover | 70 | €155,352 | €145,384 | -€9,968 | -6.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €94,280 | €81,613 | -€12,667 | -13.4% |
| Remuneration, social security and pensions | 62 | €17,500 | €17,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,091 | €6,564 | +€474 | +7.8% |
| Other operating charges | 640/8 | €1,956 | €1,973 | +€18 | +0.9% |
| Gross operating margin | 9900 | €61,072 | €63,771 | +€2,699 | +4.4% |
| Operating profit (loss) | 9901 | €35,526 | €37,733 | +€2,207 | +6.2% |
| Financial income | 75/76B | €1,123 | €602 | -€521 | -46.4% |
| Recurring financial income | 75 | €1,123 | €602 | -€521 | -46.4% |
| Financial charges | 65/66B | €330 | €461 | +€131 | +39.7% |
| Recurring financial charges | 65 | €330 | €461 | +€131 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €36,319 | €37,874 | +€1,555 | +4.3% |
| Income taxes | 67/77 | €13,579 | €2,698 | -€10,881 | -80.1% |
| Profit (loss) for the period | 9904 | €22,740 | €35,176 | +€12,436 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,740 | €35,176 | +€12,436 | +54.7% |
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 23 October 2026 via checked.be.