So.watt: what changed
Two fiscal 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.
So.watt
Largest movements
- Cash +€37,821
up €37,821 (+124.9%), from €30,289 to €68,109
mainly Net result for the year (+€54,525) and Trade debts (+€42,339)
- Stocks and contracts +€34,428
new in 2025: €34,428
- Tangible fixed assets -€19,778
down €19,778 (-23.3%), from €84,754 to €64,976
of which Furniture and vehicles: -€10,045
- Receivables within one year +€6,973
up €6,973 (+175.0%), from €3,985 to €10,958
of which Trade receivables: +€6,660
- Trade debts +€42,339
up €42,339 (+605.8%), from €6,989 to €49,328
- Debts after one year +€14,117
up €14,117 (+38.2%), from €36,991 to €51,108
- Tax, wage and social debts +€2,407
up €2,407 (+34.8%), from €6,914 to €9,321
- Gross operating margin +€15,380
up €15,380 (+22.0%), from €69,784 to €85,164
- Depreciation +€14,077
up €14,077 (+118.2%), from €11,905 to €25,983
- Taxes -€5,284
down €5,284 (-97.7%), from €5,409 to €125
- Financial charges +€2,368
up €2,368 (+101.5%), from €2,333 to €4,701
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.
Cash bridge derived
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 | €119,028 | €178,472 | +€59,444 | +49.9% |
| Fixed assets | 21/28 | €84,754 | €64,976 | -€19,778 | -23.3% |
| Tangible fixed assets | 22/27 | €84,754 | €64,976 | -€19,778 | -23.3% |
| Plant, machinery and equipment | 23 | €35,163 | €25,429 | -€9,734 | -27.7% |
| Furniture and vehicles | 24 | €49,591 | €39,547 | -€10,045 | -20.3% |
| Current assets | 29/58 | €34,274 | €113,496 | +€79,222 | +231.1% |
| Stocks and contracts in progress | 3 | - | €34,428 | +€34,428 | |
| Stocks | 30/36 | - | €34,428 | +€34,428 | |
| Amounts receivable within one year | 40/41 | €3,985 | €10,958 | +€6,973 | +175.0% |
| Trade receivables | 40 | - | €6,660 | +€6,660 | |
| Other amounts receivable | 41 | €3,985 | €4,298 | +€313 | +7.9% |
| Cash at bank and in hand | 54/58 | €30,289 | €68,109 | +€37,821 | +124.9% |
| Total equity and liabilities | 10/49 | €119,028 | €178,472 | +€59,444 | +49.9% |
| Equity | 10/15 | €59,426 | €59,951 | +€525 | +0.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €55,426 | €55,951 | +€525 | +0.9% |
| Distributable reserves | 133 | €55,426 | €55,951 | +€525 | +0.9% |
| Amounts payable | 17/49 | €59,602 | €118,521 | +€58,919 | +98.9% |
| Amounts payable after more than one year | 17 | €36,991 | €51,108 | +€14,117 | +38.2% |
| Financial debts | 170/4 | €36,991 | €51,108 | +€14,117 | +38.2% |
| Amounts payable within one year | 42/48 | €22,611 | €67,413 | +€44,802 | +198.1% |
| Current portion of amounts payable after more than one year | 42 | €8,459 | €8,763 | +€304 | +3.6% |
| Trade debts | 44 | €6,989 | €49,328 | +€42,339 | +605.8% |
| Suppliers | 440/4 | €6,989 | €49,328 | +€42,339 | +605.8% |
| Taxes, remuneration and social security | 45 | €6,914 | €9,321 | +€2,407 | +34.8% |
| Taxes | 450/3 | €6,914 | €9,321 | +€2,407 | +34.8% |
| Other amounts payable | 47/48 | €249 | - | -€249 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,905 | €25,983 | +€14,077 | +118.2% |
| Other operating charges | 640/8 | - | €187 | +€187 | |
| Non-recurring operating charges | 66A | €26,779 | - | -€26,779 | |
| Gross operating margin | 9900 | €69,784 | €85,164 | +€15,380 | +22.0% |
| Operating profit (loss) | 9901 | €31,100 | €58,994 | +€27,894 | +89.7% |
| Financial income | 75/76B | €0 | €357 | +€356 | +91376.9% |
| Recurring financial income | 75 | €0 | €357 | +€356 | +91376.9% |
| Financial charges | 65/66B | €2,333 | €4,701 | +€2,368 | +101.5% |
| Recurring financial charges | 65 | €2,333 | €4,701 | +€2,368 | +101.5% |
| Profit (loss) for the period before taxes | 9903 | €28,768 | €54,650 | +€25,882 | +90.0% |
| Income taxes | 67/77 | €5,409 | €125 | -€5,284 | -97.7% |
| Profit (loss) for the period | 9904 | €23,359 | €54,525 | +€31,166 | +133.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,359 | €54,525 | +€31,166 | +133.4% |
Source: filed annual accounts (NBB), fiscal 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 October 2026 via checked.be.