PROPER AFVALWATER: 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.
PROPER AFVALWATER
Largest movements
- Receivables within one year +€109,945
up €109,945 (+80.6%), from €136,473 to €246,418
of which Trade receivables: +€76,740
- Cash -€12,024
down €12,024 (-73.6%), from €16,346 to €4,323
mainly Receivables within one year (-€109,945) and Other debts (-€7,981)
- Stocks and contracts +€6,940
up €6,940 (+32.4%), from €21,420 to €28,360
of which Contracts in progress: +€10,000
- Reserves +€52,000
new in 2025: €52,000
- Trade debts +€50,329
up €50,329 (+66.5%), from €75,709 to €126,039
- Profit (loss) carried forward -€49,385
down €49,385 (-99.0%), from €49,863 to €479
- Short-term financial debts +€40,000
new in 2025: €40,000
- Debts after one year +€19,000
new in 2025: €19,000
- Gross operating margin -€57,158
down €57,158 (-89.3%), from €64,022 to €6,863
- Taxes -€10,969
down €10,969 (-89.2%), from €12,294 to €1,325
- Financial income +€5,710
up €5,710 (+407,871%), from €1 to €5,712
- Financial charges +€4,880
up €4,880 (+650,693%), from €1 to €4,881
- Depreciation +€969
up €969 (+77.9%), from €1,245 to €2,214
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 | €181,741 | €289,024 | +€107,284 | +59.0% |
| Fixed assets | 21/28 | €7,501 | €9,924 | +€2,423 | +32.3% |
| Tangible fixed assets | 22/27 | €7,501 | €9,924 | +€2,423 | +32.3% |
| Plant, machinery and equipment | 23 | €6,323 | €6,399 | +€75 | +1.2% |
| Furniture and vehicles | 24 | €1,178 | €3,525 | +€2,347 | +199% |
| Current assets | 29/58 | €174,239 | €279,100 | +€104,861 | +60.2% |
| Stocks and contracts in progress | 3 | €21,420 | €28,360 | +€6,940 | +32.4% |
| Stocks | 30/36 | €21,420 | €18,360 | -€3,060 | -14.3% |
| Contracts in progress | 37 | - | €10,000 | +€10,000 | |
| Amounts receivable within one year | 40/41 | €136,473 | €246,418 | +€109,945 | +80.6% |
| Trade receivables | 40 | €122,906 | €199,647 | +€76,740 | +62.4% |
| Other amounts receivable | 41 | €13,566 | €46,771 | +€33,204 | +245% |
| Cash at bank and in hand | 54/58 | €16,346 | €4,323 | -€12,024 | -73.6% |
| Total equity and liabilities | 10/49 | €181,741 | €289,024 | +€107,284 | +59.0% |
| Equity | 10/15 | €84,863 | €87,479 | +€2,615 | +3.1% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | - | €52,000 | +€52,000 | |
| Distributable reserves | 133 | - | €52,000 | +€52,000 | |
| Profit (loss) carried forward | 14 | €49,863 | €479 | -€49,385 | -99.0% |
| Amounts payable | 17/49 | €96,877 | €201,546 | +€104,668 | +108% |
| Amounts payable after more than one year | 17 | - | €19,000 | +€19,000 | |
| Financial debts | 170/4 | - | €19,000 | +€19,000 | |
| Amounts payable within one year | 42/48 | €96,877 | €182,546 | +€85,668 | +88.4% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Credit institutions | 430/8 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €75,709 | €126,039 | +€50,329 | +66.5% |
| Suppliers | 440/4 | €75,709 | €126,039 | +€50,329 | +66.5% |
| Taxes, remuneration and social security | 45 | €12,294 | €15,615 | +€3,320 | +27.0% |
| Taxes | 450/3 | €12,294 | €15,615 | +€3,320 | +27.0% |
| Other amounts payable | 47/48 | €8,874 | €893 | -€7,981 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,245 | €2,214 | +€969 | +77.9% |
| Other operating charges | 640/8 | €620 | €1,539 | +€919 | +148% |
| Gross operating margin | 9900 | €64,022 | €6,863 | -€57,158 | -89.3% |
| Operating profit (loss) | 9901 | €62,157 | €3,110 | -€59,047 | -95.0% |
| Financial income | 75/76B | €1 | €5,712 | +€5,710 | +407,871% |
| Recurring financial income | 75 | €1 | €5,712 | +€5,710 | +407,871% |
| Financial charges | 65/66B | €1 | €4,881 | +€4,880 | +650,693% |
| Recurring financial charges | 65 | €1 | €4,881 | +€4,880 | +650,693% |
| Profit (loss) for the period before taxes | 9903 | €62,157 | €3,940 | -€58,217 | -93.7% |
| Income taxes | 67/77 | €12,294 | €1,325 | -€10,969 | -89.2% |
| Profit (loss) for the period | 9904 | €49,863 | €2,615 | -€47,248 | -94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,863 | €2,615 | -€47,248 | -94.8% |
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 30 October 2026 via checked.be.