NEW WATER: 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.
NEW WATER
Largest movements
- Cash -€505,733
down €505,733 (-61.8%), from €818,471 to €312,738
mainly Other debts (-€874,683) and Trade debts (-€34,500)
- Receivables within one year -€179,477
down €179,477 (-41.5%), from €432,424 to €252,948
of which Trade receivables: -€93,719
- Stocks and contracts -€170,029
down €170,029 (-15.9%), from €1.1m to €897,907
- Other debts -€874,683
down €874,683 (-44.1%), from €2.0m to €1.1m
- Reserves +€49,009
up €49,009 (+43.9%), from €111,714 to €160,723
- Trade debts -€34,500
down €34,500 (-22.1%), from €155,982 to €121,482
- Gross operating margin -€193,375
down €193,375 (-50.0%), from €386,595 to €193,220
- Write-downs -€128,953
down €128,953, from €54,344 to -€74,609
- Staff costs -€60,645
down €60,645 (-33.2%), from €182,542 to €121,896
- Other operating charges +€40,480
up €40,480 (+2,179%), from €1,858 to €42,338
- Taxes +€6,662
up €6,662 (+1,971%), from €338 to €7,000
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 | €2,323,898 | €1,465,103 | -€858,794 | -37.0% |
| Fixed assets | 21/28 | €5,066 | €1,510 | -€3,556 | -70.2% |
| Tangible fixed assets | 22/27 | €5,066 | €1,510 | -€3,556 | -70.2% |
| Plant, machinery and equipment | 23 | - | €1,442 | +€1,442 | |
| Furniture and vehicles | 24 | €5,066 | €68 | -€4,998 | -98.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,318,831 | €1,463,593 | -€855,238 | -36.9% |
| Stocks and contracts in progress | 3 | €1,067,936 | €897,907 | -€170,029 | -15.9% |
| Stocks | 30/36 | €1,067,936 | €897,907 | -€170,029 | -15.9% |
| Amounts receivable within one year | 40/41 | €432,424 | €252,948 | -€179,477 | -41.5% |
| Trade receivables | 40 | €319,880 | €226,161 | -€93,719 | -29.3% |
| Other amounts receivable | 41 | €112,545 | €26,787 | -€85,758 | -76.2% |
| Cash at bank and in hand | 54/58 | €818,471 | €312,738 | -€505,733 | -61.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,323,898 | €1,465,103 | -€858,794 | -37.0% |
| Equity | 10/15 | €118,014 | €167,023 | +€49,009 | +41.5% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €111,714 | €160,723 | +€49,009 | +43.9% |
| Distributable reserves | 133 | €111,714 | €160,723 | +€49,009 | +43.9% |
| Amounts payable | 17/49 | €2,205,884 | €1,298,081 | -€907,803 | -41.2% |
| Amounts payable within one year | 42/48 | €2,149,404 | €1,245,641 | -€903,763 | -42.0% |
| Trade debts | 44 | €155,982 | €121,482 | -€34,500 | -22.1% |
| Suppliers | 440/4 | €155,982 | €121,482 | -€34,500 | -22.1% |
| Taxes, remuneration and social security | 45 | €11,631 | €17,051 | +€5,420 | +46.6% |
| Taxes | 450/3 | €1,102 | €1,755 | +€653 | +59.3% |
| Remuneration and social security | 454/9 | €10,529 | €15,295 | +€4,766 | +45.3% |
| Other amounts payable | 47/48 | €1,981,791 | €1,107,109 | -€874,683 | -44.1% |
| Accrued charges and deferred income | 492/3 | €56,479 | €52,439 | -€4,040 | -7.2% |
| Remuneration, social security and pensions | 62 | €182,542 | €121,896 | -€60,645 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,998 | €5,135 | +€137 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €54,344 | -€74,609 | -€128,953 | |
| Other operating charges | 640/8 | €1,858 | €42,338 | +€40,480 | +2,179% |
| Non-recurring operating charges | 66A | - | €1,281 | +€1,281 | |
| Gross operating margin | 9900 | €386,595 | €193,220 | -€193,375 | -50.0% |
| Operating profit (loss) | 9901 | €142,854 | €97,179 | -€45,675 | -32.0% |
| Financial income | 75/76B | €12,048 | €13,390 | +€1,342 | +11.1% |
| Recurring financial income | 75 | €12,048 | €13,390 | +€1,342 | +11.1% |
| Financial charges | 65/66B | €58,635 | €54,560 | -€4,076 | -7.0% |
| Recurring financial charges | 65 | €58,635 | €54,560 | -€4,076 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €96,267 | €56,009 | -€40,258 | -41.8% |
| Income taxes | 67/77 | €338 | €7,000 | +€6,662 | +1,971% |
| Profit (loss) for the period | 9904 | €95,929 | €49,009 | -€46,920 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,929 | €49,009 | -€46,920 | -48.9% |
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 1 November 2026 via checked.be.