Storm Wachtebeke: what changed
What changed
Storm Wachtebeke
NACE 42.220, Construction of utility projects for electricity and telecommunications
filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €1.5m-€492,232
Equity
€7.0m
2024 · €7.5m-€429,748
Cash
€1.3m
2024 · €1.5m-€196,852
Balance sheet total
€19.2m
2024 · €21.5m-€2.3m
Largest movements
Assets
- Tangible fixed assets -€884,197
down €884,197 (-5.2%), from €16.9m to €16.0m
of which Plant, machinery and equipment: -€884,197
- Receivables within one year -€840,698
down €840,698 (-44.8%), from €1.9m to €1.0m
of which Other amounts receivable: -€976,692
- Intangible fixed assets -€234,482
down €234,482 (-24.7%), from €948,917 to €714,435
Equity and liabilities
- Debts after one year -€1.4m
down €1.4m (-11.5%), from €11.8m to €10.5m
- Reserves -€429,748
down €429,748 (-14.7%), from €2.9m to €2.5m
of which Distributable reserves: -€460,707
- Trade debts -€413,985
down €413,985 (-69.8%), from €593,297 to €179,312
Income statement
- Gross operating margin -€274,312
down €274,312 (-8.8%), from €3.1m to €2.8m
- Taxes +€131,966
up €131,966, from -€3 to €131,964
- Depreciation +€124,306
up €124,306 (+12.5%), from €994,373 to €1.1m
- Financial charges -€68,213
down €68,213 (-10.2%), from €668,614 to €600,401
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.
Result 2024
€1.5m
Gross operating margin
-€274,312
Depreciation
-€124,306
Other operating charges
-€63
Financial income
-€30,124
Financial charges
+€68,213
Taxes
-€131,966
Deferred taxes and other
+€325
Result 2025
€1.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.8m
Investment
€0
Financing
-€3.0m
Cash 2024
€1.5m
From operations (derived)
+€2.8m
Net result for the year
+€1.0m
Depreciation
+€1.1m
Receivables after one year
-€6,710
Receivables within one year
+€840,698
Deferred charges and accrued income
+€113,985
Provisions
-€7,000
Trade debts
-€413,985
Tax, wage and social debts
+€11,598
Accrued charges and deferred income
+€120,814
Financing
-€3.0m
Debts after one year
-€1.4m
Current portion of long-term debt
-€191,342
Contributions, distributions and other
-€1.4m
Cash 2025
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,465,973 | €19,202,469 | -€2.3m | -10.5% |
| Fixed assets | 21/28 | €17,861,981 | €16,743,302 | -€1.1m | -6.3% |
| Intangible fixed assets | 21 | €948,917 | €714,435 | -€234,482 | -24.7% |
| Tangible fixed assets | 22/27 | €16,913,064 | €16,028,867 | -€884,197 | -5.2% |
| Plant, machinery and equipment | 23 | €16,913,064 | €16,028,867 | -€884,197 | -5.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €3,603,992 | €2,459,167 | -€1.1m | -31.8% |
| Amounts receivable after more than one year | 29 | - | €6,710 | +€6,710 | |
| Other amounts receivable | 291 | - | €6,710 | +€6,710 | |
| Amounts receivable within one year | 40/41 | €1,877,668 | €1,036,970 | -€840,698 | -44.8% |
| Trade receivables | 40 | €900,976 | €1,036,970 | +€135,994 | +15.1% |
| Other amounts receivable | 41 | €976,692 | €0 | -€976,692 | -100% |
| Cash at bank and in hand | 54/58 | €1,506,061 | €1,309,209 | -€196,852 | -13.1% |
| Deferred charges and accrued income | 490/1 | €220,262 | €106,277 | -€113,985 | -51.7% |
| Total equity and liabilities | 10/49 | €21,465,973 | €19,202,469 | -€2.3m | -10.5% |
| Equity | 10/15 | €7,455,984 | €7,026,235 | -€429,748 | -5.8% |
| Contributions | 10/11 | €4,536,218 | €4,536,218 | = | 0.0% |
| Capital | 10 | €4,536,218 | €4,536,218 | = | 0.0% |
| Issued capital | 100 | €4,536,218 | €4,536,218 | = | 0.0% |
| Reserves | 13 | €2,919,766 | €2,490,018 | -€429,748 | -14.7% |
| Non-distributable reserves | 130/1 | €158,417 | €210,376 | +€51,959 | +32.8% |
| Legal reserve | 130 | €158,417 | €210,376 | +€51,959 | +32.8% |
| Tax-exempt reserves | 132 | €399,975 | €378,975 | -€21,000 | -5.3% |
| Distributable reserves | 133 | €2,361,373 | €1,900,666 | -€460,707 | -19.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €133,325 | €126,325 | -€7,000 | -5.3% |
| Deferred taxes | 168 | €133,325 | €126,325 | -€7,000 | -5.3% |
| Amounts payable | 17/49 | €13,876,664 | €12,049,908 | -€1.8m | -13.2% |
| Amounts payable after more than one year | 17 | €11,821,058 | €10,467,218 | -€1.4m | -11.5% |
| Financial debts | 170/4 | €11,821,058 | €10,467,218 | -€1.4m | -11.5% |
| Amounts payable within one year | 42/48 | €2,016,379 | €1,422,650 | -€593,729 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €1,337,784 | €1,146,442 | -€191,342 | -14.3% |
| Trade debts | 44 | €593,297 | €179,312 | -€413,985 | -69.8% |
| Suppliers | 440/4 | €593,297 | €179,312 | -€413,985 | -69.8% |
| Taxes, remuneration and social security | 45 | €56,754 | €68,352 | +€11,598 | +20.4% |
| Taxes | 450/3 | €56,754 | €68,352 | +€11,598 | +20.4% |
| Other amounts payable | 47/48 | €28,545 | €28,545 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €39,227 | €160,041 | +€120,814 | +308% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €994,373 | €1,118,679 | +€124,306 | +12.5% |
| Other operating charges | 640/8 | €1,392 | €1,455 | +€63 | +4.5% |
| Gross operating margin | 9900 | €3,113,947 | €2,839,635 | -€274,312 | -8.8% |
| Operating profit (loss) | 9901 | €2,118,182 | €1,719,502 | -€398,680 | -18.8% |
| Financial income | 75/76B | €54,164 | €24,040 | -€30,124 | -55.6% |
| Recurring financial income | 75 | €54,164 | €24,040 | -€30,124 | -55.6% |
| Financial charges | 65/66B | €668,614 | €600,401 | -€68,213 | -10.2% |
| Recurring financial charges | 65 | €668,614 | €600,401 | -€68,213 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €1,503,732 | €1,143,141 | -€360,591 | -24.0% |
| Transfer from deferred taxes | 780 | €6,675 | €7,000 | +€325 | +4.9% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | -€3 | €131,964 | +€131,966 | |
| Profit (loss) for the period | 9904 | €1,510,409 | €1,018,177 | -€492,232 | -32.6% |
| Transfer from tax-exempt reserves | 789 | €20,025 | €21,000 | +€975 | +4.9% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,530,434 | €1,039,177 | -€491,257 | -32.1% |
Next steps
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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 3 November 2026 via checked.be.