WACHTERS: 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.
WACHTERS
Largest movements
- Cash -€24,744
down €24,744 (-91.3%), from €27,112 to €2,368
mainly Stocks and contracts (-€23,431) and Debts after one year (-€21,061)
- Stocks and contracts +€23,431
up €23,431 (+688.7%), from €3,402 to €26,833
of which Stocks: +€13,031
- Receivables within one year +€20,944
up €20,944 (+15.7%), from €133,350 to €154,294
of which Trade receivables: +€21,265
- Tangible fixed assets +€5,400
up €5,400 (+3.0%), from €183,047 to €188,447
of which Plant, machinery and equipment: +€5,400
- Trade debts +€32,732
up €32,732 (+36.5%), from €89,688 to €122,419
- Tax, wage and social debts +€21,459
up €21,459 (+193.8%), from €11,075 to €32,533
of which Remuneration and social security: +€23,386
- Debts after one year -€21,061
down €21,061 (-29.2%), from €72,201 to €51,140
- Advances received -€14,435
down €14,435 (-72.2%), from €20,000 to €5,565
- Other debts +€12,755
up €12,755 (+45.8%), from €27,877 to €40,632
- Staff costs +€52,330
up €52,330 (+40.6%), from €128,860 to €181,190
- Depreciation -€51,790
down €51,790 (-100.0%), from €51,790 to €0
- Other operating charges +€14,380
up €14,380 (+366.7%), from €3,922 to €18,302
- Financial charges -€11,673
down €11,673 (-55.9%), from €20,886 to €9,213
- Gross operating margin -€7,257
down €7,257 (-3.3%), from €220,464 to €213,206
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 | €347,965 | €372,997 | +€25,032 | +7.2% |
| Fixed assets | 21/28 | €184,102 | €189,502 | +€5,400 | +2.9% |
| Tangible fixed assets | 22/27 | €183,047 | €188,447 | +€5,400 | +3.0% |
| Plant, machinery and equipment | 23 | €26,258 | €31,658 | +€5,400 | +20.6% |
| Furniture and vehicles | 24 | €75,820 | €75,820 | = | 0.0% |
| Leasing and similar rights | 25 | €80,969 | €80,969 | = | 0.0% |
| Financial fixed assets | 28 | €1,055 | €1,055 | = | 0.0% |
| Current assets | 29/58 | €163,863 | €183,495 | +€19,632 | +12.0% |
| Stocks and contracts in progress | 3 | €3,402 | €26,833 | +€23,431 | +688.7% |
| Stocks | 30/36 | €3,402 | €16,433 | +€13,031 | +383.0% |
| Contracts in progress | 37 | €0 | €10,400 | +€10,400 | |
| Amounts receivable within one year | 40/41 | €133,350 | €154,294 | +€20,944 | +15.7% |
| Trade receivables | 40 | €115,744 | €137,009 | +€21,265 | +18.4% |
| Other amounts receivable | 41 | €17,606 | €17,285 | -€321 | -1.8% |
| Cash at bank and in hand | 54/58 | €27,112 | €2,368 | -€24,744 | -91.3% |
| Total equity and liabilities | 10/49 | €347,965 | €372,997 | +€25,032 | +7.2% |
| Equity | 10/15 | €100,675 | €100,846 | +€171 | +0.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €88,275 | €88,446 | +€171 | +0.2% |
| Distributable reserves | 133 | €88,275 | €88,446 | +€171 | +0.2% |
| Amounts payable | 17/49 | €247,291 | €272,151 | +€24,860 | +10.1% |
| Amounts payable after more than one year | 17 | €72,201 | €51,140 | -€21,061 | -29.2% |
| Financial debts | 170/4 | €72,201 | €51,140 | -€21,061 | -29.2% |
| Amounts payable within one year | 42/48 | €175,090 | €221,011 | +€45,921 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €26,450 | €19,861 | -€6,589 | -24.9% |
| Trade debts | 44 | €89,688 | €122,419 | +€32,732 | +36.5% |
| Suppliers | 440/4 | €89,688 | €122,419 | +€32,732 | +36.5% |
| Advances received on contracts in progress | 46 | €20,000 | €5,565 | -€14,435 | -72.2% |
| Taxes, remuneration and social security | 45 | €11,075 | €32,533 | +€21,459 | +193.8% |
| Taxes | 450/3 | €6,312 | €4,385 | -€1,927 | -30.5% |
| Remuneration and social security | 454/9 | €4,763 | €28,148 | +€23,386 | +491.0% |
| Other amounts payable | 47/48 | €27,877 | €40,632 | +€12,755 | +45.8% |
| Non-recurring operating income | 76A | €51,170 | €2,400 | -€48,770 | -95.3% |
| Remuneration, social security and pensions | 62 | €128,860 | €181,190 | +€52,330 | +40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,790 | €0 | -€51,790 | -100.0% |
| Other operating charges | 640/8 | €3,922 | €18,302 | +€14,380 | +366.7% |
| Gross operating margin | 9900 | €220,464 | €213,206 | -€7,257 | -3.3% |
| Operating profit (loss) | 9901 | €35,892 | €13,715 | -€22,177 | -61.8% |
| Financial income | 75/76B | €3,416 | €0 | -€3,416 | -100.0% |
| Recurring financial income | 75 | €3,416 | €0 | -€3,416 | -100.0% |
| Financial charges | 65/66B | €20,886 | €9,213 | -€11,673 | -55.9% |
| Recurring financial charges | 65 | €20,886 | €9,213 | -€11,673 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €18,422 | €4,502 | -€13,920 | -75.6% |
| Income taxes | 67/77 | €3,730 | €4,331 | +€601 | +16.1% |
| Profit (loss) for the period | 9904 | €14,692 | €171 | -€14,521 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,692 | €171 | -€14,521 | -98.8% |
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 5 October 2026 via checked.be.