Tom Waterschoot: 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.
Tom Waterschoot
Largest movements
- Receivables within one year +€19,790
up €19,790 (+484%), from €4,090 to €23,880
of which Other amounts receivable: +€19,790
- Cash -€3,390
down €3,390 (-9.3%), from €36,292 to €32,902
mainly Receivables within one year (-€19,790) and Other debts (-€14,000)
- Profit (loss) carried forward +€19,478
up €19,478 (+96.7%), from €20,148 to €39,626
- Other debts -€14,000
down €14,000 (-77.8%), from €18,000 to €4,000
- Tax, wage and social debts +€9,697
up €9,697 (+147%), from €6,575 to €16,272
of which Taxes: +€7,090
- Trade debts +€1,670
up €1,670 (+419%), from €398 to €2,068
- Staff costs +€28,466
up €28,466 (+27.2%), from €104,472 to €132,938
- Gross operating margin +€17,905
up €17,905 (+12.1%), from €147,742 to €165,648
- Taxes +€2,964
up €2,964 (+133%), from €2,230 to €5,194
- Depreciation -€2,238
down €2,238 (-45.5%), from €4,921 to €2,683
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 | €50,524 | €67,439 | +€16,915 | +33.5% |
| Fixed assets | 21/28 | €10,142 | €10,656 | +€515 | +5.1% |
| Tangible fixed assets | 22/27 | €6,842 | €7,356 | +€515 | +7.5% |
| Plant, machinery and equipment | 23 | €5,883 | €5,968 | +€85 | +1.4% |
| Furniture and vehicles | 24 | €959 | €1,388 | +€430 | +44.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €40,382 | €56,782 | +€16,400 | +40.6% |
| Amounts receivable within one year | 40/41 | €4,090 | €23,880 | +€19,790 | +484% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €4,090 | €23,880 | +€19,790 | +484% |
| Cash at bank and in hand | 54/58 | €36,292 | €32,902 | -€3,390 | -9.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €50,524 | €67,439 | +€16,915 | +33.5% |
| Equity | 10/15 | €25,148 | €44,626 | +€19,478 | +77.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,148 | €39,626 | +€19,478 | +96.7% |
| Amounts payable | 17/49 | €25,376 | €22,812 | -€2,564 | -10.1% |
| Amounts payable within one year | 42/48 | €24,974 | €22,380 | -€2,594 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €398 | €2,068 | +€1,670 | +419% |
| Suppliers | 440/4 | €398 | €2,068 | +€1,670 | +419% |
| Advances received on contracts in progress | 46 | - | €40 | +€40 | |
| Taxes, remuneration and social security | 45 | €6,575 | €16,272 | +€9,697 | +147% |
| Taxes | 450/3 | €2,422 | €9,512 | +€7,090 | +293% |
| Remuneration and social security | 454/9 | €4,153 | €6,760 | +€2,607 | +62.8% |
| Other amounts payable | 47/48 | €18,000 | €4,000 | -€14,000 | -77.8% |
| Accrued charges and deferred income | 492/3 | €402 | €432 | +€30 | +7.5% |
| Remuneration, social security and pensions | 62 | €104,472 | €132,938 | +€28,466 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,921 | €2,683 | -€2,238 | -45.5% |
| Other operating charges | 640/8 | €1,197 | €1,301 | +€104 | +8.7% |
| Gross operating margin | 9900 | €147,742 | €165,648 | +€17,905 | +12.1% |
| Operating profit (loss) | 9901 | €37,153 | €28,726 | -€8,427 | -22.7% |
| Financial income | 75/76B | €58 | €384 | +€326 | +563% |
| Recurring financial income | 75 | €58 | €384 | +€326 | +563% |
| Financial charges | 65/66B | €452 | €437 | -€14 | -3.2% |
| Recurring financial charges | 65 | €452 | €437 | -€14 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €36,759 | €28,672 | -€8,087 | -22.0% |
| Income taxes | 67/77 | €2,230 | €5,194 | +€2,964 | +133% |
| Profit (loss) for the period | 9904 | €34,529 | €23,478 | -€11,051 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,529 | €23,478 | -€11,051 | -32.0% |
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 20 October 2026 via checked.be.