WAT CONSULT: 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.
WAT CONSULT
Largest movements
- Financial fixed assets -€37,517
down €37,517 (-38.4%), from €97,723 to €60,206
- Cash +€13,418
up €13,418 (+6.3%), from €213,531 to €226,949
mainly Investment in fixed assets (net) (+€37,517) and Net result for the year (+€26,310)
- Receivables within one year +€12,959
up €12,959 (+64.2%), from €20,188 to €33,147
of which Trade receivables: +€11,137
- Tangible fixed assets -€7,253
down €7,253 (-58.4%), from €12,421 to €5,168
- Reserves -€67,000
down €67,000 (-26.9%), from €249,000 to €182,000
- Profit (loss) carried forward +€26,310
up €26,310 (+106%), from €24,936 to €51,246
- Other debts +€24,600
up €24,600 (+58.0%), from €42,400 to €67,000
- Debts after one year -€4,253
no longer reported in 2025 (was €4,253)
- Gross operating margin -€14,640
down €14,640 (-37.2%), from €39,324 to €24,684
- Turnover -€13,749
down €13,749 (-8.4%), from €163,738 to €149,989
- Financial income +€12,238
up €12,238 (+241%), from €5,088 to €17,326
- Taxes -€2,955
down €2,955 (-37.5%), from €7,882 to €4,927
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 | €346,203 | €325,470 | -€20,733 | -6.0% |
| Fixed assets | 21/28 | €110,144 | €65,374 | -€44,770 | -40.6% |
| Tangible fixed assets | 22/27 | €12,421 | €5,168 | -€7,253 | -58.4% |
| Furniture and vehicles | 24 | €12,421 | €5,168 | -€7,253 | -58.4% |
| Financial fixed assets | 28 | €97,723 | €60,206 | -€37,517 | -38.4% |
| Current assets | 29/58 | €236,059 | €260,096 | +€24,037 | +10.2% |
| Amounts receivable within one year | 40/41 | €20,188 | €33,147 | +€12,959 | +64.2% |
| Trade receivables | 40 | €5,912 | €17,049 | +€11,137 | +188% |
| Other amounts receivable | 41 | €14,276 | €16,098 | +€1,822 | +12.8% |
| Cash at bank and in hand | 54/58 | €213,531 | €226,949 | +€13,418 | +6.3% |
| Deferred charges and accrued income | 490/1 | €2,340 | - | -€2,340 | |
| Total equity and liabilities | 10/49 | €346,203 | €325,470 | -€20,733 | -6.0% |
| Equity | 10/15 | €290,960 | €250,270 | -€40,690 | -14.0% |
| Contributions | 10/11 | €17,024 | €17,024 | = | 0.0% |
| Reserves | 13 | €249,000 | €182,000 | -€67,000 | -26.9% |
| Distributable reserves | 133 | €249,000 | €182,000 | -€67,000 | -26.9% |
| Profit (loss) carried forward | 14 | €24,936 | €51,246 | +€26,310 | +106% |
| Amounts payable | 17/49 | €55,243 | €75,200 | +€19,957 | +36.1% |
| Amounts payable after more than one year | 17 | €4,253 | - | -€4,253 | |
| Financial debts | 170/4 | €4,253 | - | -€4,253 | |
| Amounts payable within one year | 42/48 | €50,990 | €75,200 | +€24,210 | +47.5% |
| Current portion of amounts payable after more than one year | 42 | €5,057 | €4,253 | -€804 | -15.9% |
| Trade debts | 44 | €3,533 | €3,739 | +€206 | +5.8% |
| Suppliers | 440/4 | €3,533 | €3,739 | +€206 | +5.8% |
| Taxes, remuneration and social security | 45 | - | €208 | +€208 | |
| Taxes | 450/3 | - | €208 | +€208 | |
| Other amounts payable | 47/48 | €42,400 | €67,000 | +€24,600 | +58.0% |
| Turnover | 70 | €163,738 | €149,989 | -€13,749 | -8.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €124,414 | €125,302 | +€888 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,951 | €7,253 | -€698 | -8.8% |
| Other operating charges | 640/8 | €2,741 | €2,693 | -€48 | -1.8% |
| Non-recurring operating charges | 66A | €151 | €63 | -€88 | -58.3% |
| Gross operating margin | 9900 | €39,324 | €24,684 | -€14,640 | -37.2% |
| Operating profit (loss) | 9901 | €28,481 | €14,675 | -€13,806 | -48.5% |
| Financial income | 75/76B | €5,088 | €17,326 | +€12,238 | +241% |
| Recurring financial income | 75 | €5,088 | €17,326 | +€12,238 | +241% |
| Financial charges | 65/66B | €892 | €764 | -€128 | -14.3% |
| Recurring financial charges | 65 | €892 | €764 | -€128 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €32,677 | €31,237 | -€1,440 | -4.4% |
| Income taxes | 67/77 | €7,882 | €4,927 | -€2,955 | -37.5% |
| Profit (loss) for the period | 9904 | €24,795 | €26,310 | +€1,515 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,795 | €26,310 | +€1,515 | +6.1% |
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 14 October 2026 via checked.be.