WAT-ELEC: 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-ELEC
Largest movements
- Receivables within one year +€21,084
up €21,084 (+50.0%), from €42,137 to €63,221
of which Trade receivables: +€29,722
- Cash -€14,928
down €14,928 (-90.3%), from €16,536 to €1,608
mainly Receivables within one year (-€21,084) and Debts after one year (-€10,752)
- Tangible fixed assets -€11,703
down €11,703 (-18.9%), from €61,757 to €50,054
of which Furniture and vehicles: -€14,956
- Debts after one year -€10,752
down €10,752 (-28.0%), from €38,416 to €27,665
- Other debts +€4,684
up €4,684 (+247%), from €1,895 to €6,578
- Trade debts -€2,273
down €2,273 (-5.8%), from €39,302 to €37,029
- Profit (loss) carried forward +€1,552
up €1,552, from -€1,363 to €190
- Staff costs -€33,898
down €33,898 (-40.9%), from €82,906 to €49,008
- Gross operating margin -€28,945
down €28,945 (-27.8%), from €104,107 to €75,162
- Depreciation +€4,259
up €4,259 (+39.4%), from €10,811 to €15,069
- Other operating charges +€2,308
up €2,308 (+96.2%), from €2,399 to €4,707
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 | €122,662 | €117,491 | -€5,171 | -4.2% |
| Fixed assets | 21/28 | €61,757 | €50,054 | -€11,703 | -18.9% |
| Tangible fixed assets | 22/27 | €61,757 | €50,054 | -€11,703 | -18.9% |
| Plant, machinery and equipment | 23 | - | €3,253 | +€3,253 | |
| Furniture and vehicles | 24 | €61,757 | €46,802 | -€14,956 | -24.2% |
| Current assets | 29/58 | €60,905 | €67,437 | +€6,532 | +10.7% |
| Amounts receivable within one year | 40/41 | €42,137 | €63,221 | +€21,084 | +50.0% |
| Trade receivables | 40 | €31,265 | €60,987 | +€29,722 | +95.1% |
| Other amounts receivable | 41 | €10,872 | €2,234 | -€8,638 | -79.5% |
| Cash at bank and in hand | 54/58 | €16,536 | €1,608 | -€14,928 | -90.3% |
| Deferred charges and accrued income | 490/1 | €2,232 | €2,608 | +€376 | +16.8% |
| Total equity and liabilities | 10/49 | €122,662 | €117,491 | -€5,171 | -4.2% |
| Equity | 10/15 | €6,697 | €8,250 | +€1,552 | +23.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,363 | €190 | +€1,552 | |
| Amounts payable | 17/49 | €115,965 | €109,242 | -€6,723 | -5.8% |
| Amounts payable after more than one year | 17 | €38,416 | €27,665 | -€10,752 | -28.0% |
| Financial debts | 170/4 | €38,416 | €27,665 | -€10,752 | -28.0% |
| Amounts payable within one year | 42/48 | €77,549 | €81,577 | +€4,028 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €10,143 | €10,752 | +€609 | +6.0% |
| Trade debts | 44 | €39,302 | €37,029 | -€2,273 | -5.8% |
| Suppliers | 440/4 | €39,302 | €37,029 | -€2,273 | -5.8% |
| Taxes, remuneration and social security | 45 | €26,209 | €27,218 | +€1,009 | +3.8% |
| Taxes | 450/3 | €2,697 | €4,687 | +€1,990 | +73.8% |
| Remuneration and social security | 454/9 | €23,512 | €22,531 | -€982 | -4.2% |
| Other amounts payable | 47/48 | €1,895 | €6,578 | +€4,684 | +247% |
| Remuneration, social security and pensions | 62 | €82,906 | €49,008 | -€33,898 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,811 | €15,069 | +€4,259 | +39.4% |
| Other operating charges | 640/8 | €2,399 | €4,707 | +€2,308 | +96.2% |
| Gross operating margin | 9900 | €104,107 | €75,162 | -€28,945 | -27.8% |
| Operating profit (loss) | 9901 | €7,991 | €6,378 | -€1,614 | -20.2% |
| Financial income | 75/76B | €14 | €1 | -€13 | -93.6% |
| Recurring financial income | 75 | €14 | €1 | -€13 | -93.6% |
| Financial charges | 65/66B | €3,782 | €2,836 | -€946 | -25.0% |
| Recurring financial charges | 65 | €3,782 | €2,836 | -€946 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €4,224 | €3,543 | -€681 | -16.1% |
| Income taxes | 67/77 | €2,016 | €1,990 | -€26 | -1.3% |
| Profit (loss) for the period | 9904 | €2,207 | €1,552 | -€655 | -29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,207 | €1,552 | -€655 | -29.7% |
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 17 October 2026 via checked.be.