MARC WAUTERS: what changed
MARC WAUTERS
Largest movements
- Receivables within one year -€9,421
down €9,421 (-12.7%), from €74,167 to €64,747
of which Other amounts receivable: -€6,035
- Tangible fixed assets +€9,101
up €9,101 (+2,281%), from €399 to €9,500
of which Plant, machinery and equipment: +€9,500
- Cash +€4,974
up €4,974 (+21,210%), from €23 to €4,997
mainly Net result for the year (+€12,483) and Receivables within one year (+€9,421)
- Deferred charges and accrued income -€4,694
down €4,694 (-32.2%), from €14,582 to €9,888
- Reserves +€12,483
up €12,483 (+31.2%), from €40,065 to €52,549
of which Distributable reserves: +€12,483
- Short-term financial debts -€7,248
down €7,248 (-100%), from €7,248 to €0
- Trade debts -€4,101
down €4,101 (-71.0%), from €5,772 to €1,671
- Profit (loss) carried forward -€1,725
down €1,725 (-100%), from €1,725 to €0
- Gross operating margin +€12,523
up €12,523 (+115%), from €10,922 to €23,446
- Taxes +€4,065
up €4,065 (+133%), from €3,053 to €7,118
- Other operating charges +€356
up €356 (+31.1%), from €1,142 to €1,498
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 | €89,172 | €89,132 | -€40 | 0.0% |
| Fixed assets | 21/28 | €399 | €9,500 | +€9,101 | +2,281% |
| Tangible fixed assets | 22/27 | €399 | €9,500 | +€9,101 | +2,281% |
| Plant, machinery and equipment | 23 | - | €9,500 | +€9,500 | |
| Furniture and vehicles | 24 | €399 | €0 | -€399 | -100% |
| Current assets | 29/58 | €88,773 | €79,632 | -€9,141 | -10.3% |
| Amounts receivable within one year | 40/41 | €74,167 | €64,747 | -€9,421 | -12.7% |
| Trade receivables | 40 | €5,333 | €1,947 | -€3,386 | -63.5% |
| Other amounts receivable | 41 | €68,834 | €62,799 | -€6,035 | -8.8% |
| Cash at bank and in hand | 54/58 | €23 | €4,997 | +€4,974 | +21,210% |
| Deferred charges and accrued income | 490/1 | €14,582 | €9,888 | -€4,694 | -32.2% |
| Total equity and liabilities | 10/49 | €89,172 | €89,132 | -€40 | 0.0% |
| Equity | 10/15 | €72,777 | €83,535 | +€10,758 | +14.8% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €40,065 | €52,549 | +€12,483 | +31.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €30,065 | €42,549 | +€12,483 | +41.5% |
| Profit (loss) carried forward | 14 | €1,725 | €0 | -€1,725 | -100% |
| Amounts payable | 17/49 | €16,395 | €5,597 | -€10,798 | -65.9% |
| Amounts payable within one year | 42/48 | €16,395 | €5,597 | -€10,798 | -65.9% |
| Financial debts | 43 | €7,248 | €0 | -€7,248 | -100% |
| Credit institutions | 430/8 | €7,248 | €0 | -€7,248 | -100% |
| Trade debts | 44 | €5,772 | €1,671 | -€4,101 | -71.0% |
| Suppliers | 440/4 | €5,772 | €1,671 | -€4,101 | -71.0% |
| Taxes, remuneration and social security | 45 | €1,675 | €2,200 | +€526 | +31.4% |
| Taxes | 450/3 | €1,675 | €2,200 | +€526 | +31.4% |
| Other amounts payable | 47/48 | €1,700 | €1,725 | +€25 | +1.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €425 | €623 | +€198 | +46.7% |
| Other operating charges | 640/8 | €1,142 | €1,498 | +€356 | +31.1% |
| Gross operating margin | 9900 | €10,922 | €23,446 | +€12,523 | +115% |
| Operating profit (loss) | 9901 | €9,356 | €21,325 | +€11,969 | +128% |
| Financial income | 75/76B | €15 | €6 | -€9 | -61.1% |
| Recurring financial income | 75 | €15 | €6 | -€9 | -61.1% |
| Financial charges | 65/66B | €1,626 | €1,730 | +€104 | +6.4% |
| Recurring financial charges | 65 | €1,626 | €1,730 | +€104 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €7,745 | €19,601 | +€11,856 | +153% |
| Income taxes | 67/77 | €3,053 | €7,118 | +€4,065 | +133% |
| Profit (loss) for the period | 9904 | €4,692 | €12,483 | +€7,792 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €4,692 | €12,483 | +€7,792 | +166% |
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 8 November 2026 via checked.be.