W@T: 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.
W@T
Largest movements
- Receivables within one year +€14,385
up €14,385 (+468%), from €3,072 to €17,457
- Cash +€10,382
up €10,382 (+97.9%), from €10,605 to €20,987
mainly Net result for the year (+€29,030) and Tax, wage and social debts (+€9,558)
- Deferred charges and accrued income +€3,748
up €3,748 (+636%), from €590 to €4,338
- Tangible fixed assets +€2,082
new in 2025: €2,082
- Reserves +€27,676
new in 2025: €27,676
- Tax, wage and social debts +€9,558
up €9,558 (+227,023%), from €4 to €9,562
- Other debts -€6,516
down €6,516 (-82.1%), from €7,934 to €1,418
- Trade debts -€642
down €642 (-98.8%), from €650 to €8
- Profit (loss) carried forward +€521
up €521, from -€521 to €0
- Gross operating margin +€45,219
up €45,219, from -€721 to €44,498
- Taxes +€14,329
up €14,329 (+340,361%), from €4 to €14,333
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 | €14,267 | €44,864 | +€30,597 | +214% |
| Fixed assets | 21/28 | - | €2,082 | +€2,082 | |
| Tangible fixed assets | 22/27 | - | €2,082 | +€2,082 | |
| Furniture and vehicles | 24 | - | €2,082 | +€2,082 | |
| Current assets | 29/58 | €14,267 | €42,783 | +€28,515 | +200% |
| Amounts receivable within one year | 40/41 | €3,072 | €17,457 | +€14,385 | +468% |
| Trade receivables | 40 | €3,072 | €17,457 | +€14,385 | +468% |
| Cash at bank and in hand | 54/58 | €10,605 | €20,987 | +€10,382 | +97.9% |
| Deferred charges and accrued income | 490/1 | €590 | €4,338 | +€3,748 | +636% |
| Total equity and liabilities | 10/49 | €14,267 | €44,864 | +€30,597 | +214% |
| Equity | 10/15 | €5,679 | €33,876 | +€28,197 | +497% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €27,676 | +€27,676 | |
| Distributable reserves | 133 | - | €27,676 | +€27,676 | |
| Profit (loss) carried forward | 14 | -€521 | €0 | +€521 | |
| Amounts payable | 17/49 | €8,588 | €10,988 | +€2,400 | +27.9% |
| Amounts payable within one year | 42/48 | €8,588 | €10,988 | +€2,400 | +27.9% |
| Trade debts | 44 | €650 | €8 | -€642 | -98.8% |
| Suppliers | 440/4 | €650 | €8 | -€642 | -98.8% |
| Taxes, remuneration and social security | 45 | €4 | €9,562 | +€9,558 | +227,023% |
| Taxes | 450/3 | €4 | €9,562 | +€9,558 | +227,023% |
| Other amounts payable | 47/48 | €7,934 | €1,418 | -€6,516 | -82.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €134 | +€134 | |
| Other operating charges | 640/8 | €568 | €583 | +€14 | +2.5% |
| Gross operating margin | 9900 | -€721 | €44,498 | +€45,219 | |
| Operating profit (loss) | 9901 | -€1,289 | €43,782 | +€45,071 | |
| Financial charges | 65/66B | €44 | €418 | +€375 | +861% |
| Recurring financial charges | 65 | €44 | €418 | +€375 | +861% |
| Profit (loss) for the period before taxes | 9903 | -€1,333 | €43,364 | +€44,697 | |
| Income taxes | 67/77 | €4 | €14,333 | +€14,329 | +340,361% |
| Profit (loss) for the period | 9904 | -€1,337 | €29,030 | +€30,367 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,337 | €29,030 | +€30,367 |
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.