T. WASTERLAIN: 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.
T. WASTERLAIN
Largest movements
- Financial fixed assets +€69,175
up €69,175 (+691.8%), from €10,000 to €79,175
- Current investments +€36,000
up €36,000 (+56.3%), from €64,000 to €100,000
- Receivables within one year +€32,159
up €32,159 (+13.9%), from €231,199 to €263,358
of which Other amounts receivable: +€32,299
- Reserves +€72,000
up €72,000 (+38.1%), from €188,855 to €260,855
of which Distributable reserves: +€72,000
- Other debts +€58,000
up €58,000 (+252.2%), from €23,000 to €81,000
- Tax, wage and social debts +€19,964
up €19,964 (+47.1%), from €42,361 to €62,325
- Debts after one year -€9,218
down €9,218 (-43.9%), from €20,991 to €11,772
- Financial income +€96,784
up €96,784 (+160.5%), from €60,319 to €157,103
- Gross operating margin -€8,981
down €8,981 (-28.8%), from €31,176 to €22,195
- Taxes +€8,314
up €8,314 (+57.2%), from €14,539 to €22,854
- Depreciation -€2,464
down €2,464 (-59.8%), from €4,122 to €1,658
- Write-downs -€1,301
down €1,301 (-224.8%), from -€579 to -€1,879
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 | €310,854 | €450,896 | +€140,042 | +45.1% |
| Fixed assets | 21/28 | €13,269 | €83,610 | +€70,341 | +530.1% |
| Tangible fixed assets | 22/27 | €3,269 | €4,435 | +€1,166 | +35.7% |
| Plant, machinery and equipment | 23 | €815 | €472 | -€343 | -42.1% |
| Furniture and vehicles | 24 | €448 | €2,391 | +€1,943 | +433.6% |
| Other tangible fixed assets | 26 | €2,005 | €1,572 | -€434 | -21.6% |
| Financial fixed assets | 28 | €10,000 | €79,175 | +€69,175 | +691.8% |
| Current assets | 29/58 | €297,585 | €367,286 | +€69,701 | +23.4% |
| Amounts receivable within one year | 40/41 | €231,199 | €263,358 | +€32,159 | +13.9% |
| Trade receivables | 40 | €284 | €143 | -€140 | -49.4% |
| Other amounts receivable | 41 | €230,916 | €263,214 | +€32,299 | +14.0% |
| Current investments | 50/53 | €64,000 | €100,000 | +€36,000 | +56.3% |
| Cash at bank and in hand | 54/58 | €1,160 | €2,518 | +€1,358 | +117.0% |
| Deferred charges and accrued income | 490/1 | €1,226 | €1,410 | +€185 | +15.1% |
| Total equity and liabilities | 10/49 | €310,854 | €450,896 | +€140,042 | +45.1% |
| Equity | 10/15 | €214,370 | €287,501 | +€73,132 | +34.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €188,855 | €260,855 | +€72,000 | +38.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €187,000 | €259,000 | +€72,000 | +38.5% |
| Profit (loss) carried forward | 14 | €19,315 | €20,446 | +€1,132 | +5.9% |
| Amounts payable | 17/49 | €96,484 | €163,395 | +€66,911 | +69.3% |
| Amounts payable after more than one year | 17 | €20,991 | €11,772 | -€9,218 | -43.9% |
| Financial debts | 170/4 | €20,991 | €11,772 | -€9,218 | -43.9% |
| Amounts payable within one year | 42/48 | €75,494 | €151,622 | +€76,129 | +100.8% |
| Current portion of amounts payable after more than one year | 42 | €9,553 | €7,521 | -€2,032 | -21.3% |
| Trade debts | 44 | €580 | €776 | +€196 | +33.8% |
| Suppliers | 440/4 | €580 | €776 | +€196 | +33.8% |
| Taxes, remuneration and social security | 45 | €42,361 | €62,325 | +€19,964 | +47.1% |
| Taxes | 450/3 | €42,361 | €62,325 | +€19,964 | +47.1% |
| Other amounts payable | 47/48 | €23,000 | €81,000 | +€58,000 | +252.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,122 | €1,658 | -€2,464 | -59.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€579 | -€1,879 | -€1,301 | -224.8% |
| Other operating charges | 640/8 | €1,028 | €1,071 | +€43 | +4.2% |
| Gross operating margin | 9900 | €31,176 | €22,195 | -€8,981 | -28.8% |
| Operating profit (loss) | 9901 | €26,605 | €21,345 | -€5,260 | -19.8% |
| Financial income | 75/76B | €60,319 | €157,103 | +€96,784 | +160.5% |
| Recurring financial income | 75 | €60,319 | €157,103 | +€96,784 | +160.5% |
| Financial charges | 65/66B | €2,220 | €1,463 | -€758 | -34.1% |
| Recurring financial charges | 65 | €2,220 | €1,463 | -€758 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €84,704 | €176,985 | +€92,281 | +108.9% |
| Income taxes | 67/77 | €14,539 | €22,854 | +€8,314 | +57.2% |
| Profit (loss) for the period | 9904 | €70,164 | €154,132 | +€83,967 | +119.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,164 | €154,132 | +€83,967 | +119.7% |
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 2 October 2026 via checked.be.