L'AQUARELLE: 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.
L'AQUARELLE
Largest movements
- Tangible fixed assets -€31,764
down €31,764 (-68.0%), from €46,679 to €14,915
- Cash -€5,615
down €5,615 (-97.1%), from €5,785 to €170
mainly Debts after one year (-€23,888) and Net result for the year (-€23,396)
- Debts after one year -€23,888
no longer reported in 2025 (was €23,888)
- Profit (loss) carried forward -€23,396
down €23,396 (-33.6%), from -€69,541 to -€92,937
- Other debts +€10,797
up €10,797 (+25.9%), from €41,642 to €52,439
- Tax, wage and social debts +€3,665
up €3,665 (+16.6%), from €22,035 to €25,700
of which Taxes: +€7,806
- Current portion of long-term debt -€2,420
down €2,420 (-74.8%), from €3,235 to €815
- Staff costs -€50,045
down €50,045 (-49.8%), from €100,481 to €50,436
- Gross operating margin -€35,955
down €35,955 (-44.8%), from €80,329 to €44,374
- Taxes -€1,607
no longer reported in 2025 (was €1,607)
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 | €64,424 | €27,046 | -€37,378 | -58.0% |
| Fixed assets | 21/28 | €47,541 | €15,778 | -€31,763 | -66.8% |
| Tangible fixed assets | 22/27 | €46,679 | €14,915 | -€31,764 | -68.0% |
| Furniture and vehicles | 24 | €46,679 | €14,915 | -€31,764 | -68.0% |
| Financial fixed assets | 28 | €862 | €863 | +€1 | +0.1% |
| Current assets | 29/58 | €16,883 | €11,268 | -€5,615 | -33.3% |
| Stocks and contracts in progress | 3 | €10,698 | €10,698 | = | 0.0% |
| Stocks | 30/36 | €10,698 | €10,698 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €400 | €400 | = | 0.0% |
| Trade receivables | 40 | €400 | €400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,785 | €170 | -€5,615 | -97.1% |
| Total equity and liabilities | 10/49 | €64,424 | €27,046 | -€37,378 | -58.0% |
| Equity | 10/15 | -€48,771 | -€72,167 | -€23,396 | -48.0% |
| Contributions | 10/11 | €18,592 | €20,770 | +€2,178 | +11.7% |
| Reserves | 13 | €2,178 | - | -€2,178 | |
| Non-distributable reserves | 130/1 | €2,178 | - | -€2,178 | |
| Reserves not available under the articles | 1311 | €2,178 | - | -€2,178 | |
| Profit (loss) carried forward | 14 | -€69,541 | -€92,937 | -€23,396 | -33.6% |
| Amounts payable | 17/49 | €113,195 | €99,213 | -€13,982 | -12.4% |
| Amounts payable after more than one year | 17 | €23,888 | - | -€23,888 | |
| Financial debts | 170/4 | €23,888 | - | -€23,888 | |
| Amounts payable within one year | 42/48 | €89,307 | €99,213 | +€9,906 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €3,235 | €815 | -€2,420 | -74.8% |
| Trade debts | 44 | €22,395 | €20,259 | -€2,136 | -9.5% |
| Suppliers | 440/4 | €22,395 | €20,259 | -€2,136 | -9.5% |
| Taxes, remuneration and social security | 45 | €22,035 | €25,700 | +€3,665 | +16.6% |
| Taxes | 450/3 | €2,064 | €9,870 | +€7,806 | +378% |
| Remuneration and social security | 454/9 | €19,971 | €15,830 | -€4,141 | -20.7% |
| Other amounts payable | 47/48 | €41,642 | €52,439 | +€10,797 | +25.9% |
| Remuneration, social security and pensions | 62 | €100,481 | €50,436 | -€50,045 | -49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,855 | €10,446 | -€409 | -3.8% |
| Other operating charges | 640/8 | €6,367 | €5,817 | -€550 | -8.6% |
| Gross operating margin | 9900 | €80,329 | €44,374 | -€35,955 | -44.8% |
| Operating profit (loss) | 9901 | -€37,374 | -€22,325 | +€15,049 | +40.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,261 | €1,072 | -€189 | -15.0% |
| Recurring financial charges | 65 | €1,261 | €1,072 | -€189 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | -€38,635 | -€23,396 | +€15,239 | +39.4% |
| Income taxes | 67/77 | €1,607 | - | -€1,607 | |
| Profit (loss) for the period | 9904 | -€40,242 | -€23,396 | +€16,846 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,242 | -€23,396 | +€16,846 | +41.9% |
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.