MEGAWATT: 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.
MEGAWATT
Largest movements
- Tangible fixed assets -€59,408
down €59,408 (-26.1%), from €227,439 to €168,031
of which Land and buildings: -€54,781
- Receivables within one year +€45,677
up €45,677 (+151%), from €30,297 to €75,974
of which Trade receivables: +€43,645
- Stocks and contracts +€18,503
up €18,503 (+386%), from €4,792 to €23,295
of which Contracts in progress: +€11,000
- Cash -€15,446
down €15,446 (-26.5%), from €58,362 to €42,917
mainly Receivables within one year (-€45,677) and Stocks and contracts (-€18,503)
- Debts after one year -€12,399
down €12,399 (-8.5%), from €146,572 to €134,173
- Trade debts -€11,723
down €11,723 (-99.5%), from €11,780 to €57
- Reserves +€7,289
up €7,289 (+9.2%), from €79,304 to €86,592
- Other debts +€3,597
up €3,597 (+30.1%), from €11,946 to €15,544
- Gross operating margin -€15,413
down €15,413 (-19.6%), from €78,577 to €63,163
- Depreciation -€1,156
down €1,156 (-6.4%), from €18,209 to €17,053
- Other operating charges -€918
down €918 (-36.5%), from €2,514 to €1,596
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 | €321,521 | €310,620 | -€10,901 | -3.4% |
| Fixed assets | 21/28 | €227,451 | €168,043 | -€59,408 | -26.1% |
| Tangible fixed assets | 22/27 | €227,439 | €168,031 | -€59,408 | -26.1% |
| Land and buildings | 22 | €184,576 | €129,795 | -€54,781 | -29.7% |
| Plant, machinery and equipment | 23 | €9,084 | €7,061 | -€2,023 | -22.3% |
| Furniture and vehicles | 24 | €33,778 | €31,174 | -€2,604 | -7.7% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €94,070 | €142,577 | +€48,507 | +51.6% |
| Stocks and contracts in progress | 3 | €4,792 | €23,295 | +€18,503 | +386% |
| Stocks | 30/36 | €4,792 | €12,295 | +€7,503 | +157% |
| Contracts in progress | 37 | - | €11,000 | +€11,000 | |
| Amounts receivable within one year | 40/41 | €30,297 | €75,974 | +€45,677 | +151% |
| Trade receivables | 40 | €29,491 | €73,136 | +€43,645 | +148% |
| Other amounts receivable | 41 | €806 | €2,838 | +€2,032 | +252% |
| Cash at bank and in hand | 54/58 | €58,362 | €42,917 | -€15,446 | -26.5% |
| Deferred charges and accrued income | 490/1 | €619 | €391 | -€228 | -36.8% |
| Total equity and liabilities | 10/49 | €321,521 | €310,620 | -€10,901 | -3.4% |
| Equity | 10/15 | €124,518 | €131,807 | +€7,289 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €79,304 | €86,592 | +€7,289 | +9.2% |
| Distributable reserves | 133 | €79,304 | €86,592 | +€7,289 | +9.2% |
| Profit (loss) carried forward | 14 | €39,014 | €39,014 | = | 0.0% |
| Amounts payable | 17/49 | €197,002 | €178,813 | -€18,189 | -9.2% |
| Amounts payable after more than one year | 17 | €146,572 | €134,173 | -€12,399 | -8.5% |
| Financial debts | 170/4 | €146,572 | €134,173 | -€12,399 | -8.5% |
| Amounts payable within one year | 42/48 | €49,304 | €43,575 | -€5,729 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €12,968 | €13,420 | +€452 | +3.5% |
| Trade debts | 44 | €11,780 | €57 | -€11,723 | -99.5% |
| Suppliers | 440/4 | €11,780 | €57 | -€11,723 | -99.5% |
| Taxes, remuneration and social security | 45 | €12,609 | €14,553 | +€1,944 | +15.4% |
| Taxes | 450/3 | €12,609 | €13,178 | +€569 | +4.5% |
| Remuneration and social security | 454/9 | - | €1,375 | +€1,375 | |
| Other amounts payable | 47/48 | €11,946 | €15,544 | +€3,597 | +30.1% |
| Accrued charges and deferred income | 492/3 | €1,126 | €1,065 | -€61 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,209 | €17,053 | -€1,156 | -6.4% |
| Other operating charges | 640/8 | €2,514 | €1,596 | -€918 | -36.5% |
| Gross operating margin | 9900 | €78,577 | €63,163 | -€15,413 | -19.6% |
| Operating profit (loss) | 9901 | €57,853 | €44,515 | -€13,339 | -23.1% |
| Financial income | 75/76B | €50 | €26 | -€24 | -48.9% |
| Recurring financial income | 75 | €50 | €26 | -€24 | -48.9% |
| Financial charges | 65/66B | €8,178 | €7,393 | -€784 | -9.6% |
| Recurring financial charges | 65 | €8,178 | €7,393 | -€784 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €49,726 | €37,147 | -€12,579 | -25.3% |
| Income taxes | 67/77 | €12,303 | €11,875 | -€428 | -3.5% |
| Profit (loss) for the period | 9904 | €37,422 | €25,272 | -€12,150 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,422 | €25,272 | -€12,150 | -32.5% |
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 20 October 2026 via checked.be.