WAT-EXPRESS: 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.
WAT-EXPRESS
Largest movements
- Tangible fixed assets -€17,355
down €17,355 (-48.1%), from €36,045 to €18,690
- Cash +€14,712
up €14,712 (+17.5%), from €84,225 to €98,936
mainly Other debts (+€42,609) and Trade debts (+€22,826)
- Stocks and contracts +€3,417
up €3,417 (+2.5%), from €138,412 to €141,829
- Other debts +€42,609
up €42,609 (+3935.3%), from €1,083 to €43,692
- Debts after one year -€41,611
down €41,611 (-100.0%), from €41,611 to €0
of which Other amounts payable: -€39,142
- Trade debts +€22,826
up €22,826 (+25.6%), from €89,212 to €112,037
- Profit (loss) carried forward -€10,338
down €10,338, from €0 to -€10,338
- Current portion of long-term debt -€9,647
down €9,647 (-77.7%), from €12,413 to €2,767
- Gross operating margin -€68,663
down €68,663 (-19.8%), from €346,879 to €278,215
- Depreciation -€28,534
down €28,534 (-58.5%), from €48,779 to €20,245
- Staff costs -€26,710
down €26,710 (-9.8%), from €271,921 to €245,211
- Financial charges +€6,829
up €6,829 (+60.7%), from €11,260 to €18,089
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 | €301,775 | €301,957 | +€182 | +0.1% |
| Fixed assets | 21/28 | €43,046 | €22,802 | -€20,245 | -47.0% |
| Intangible fixed assets | 21 | €5,053 | €2,164 | -€2,890 | -57.2% |
| Tangible fixed assets | 22/27 | €36,045 | €18,690 | -€17,355 | -48.1% |
| Plant, machinery and equipment | 23 | €11,151 | €5,200 | -€5,951 | -53.4% |
| Furniture and vehicles | 24 | €3,340 | €209 | -€3,131 | -93.7% |
| Other tangible fixed assets | 26 | €21,555 | €13,281 | -€8,273 | -38.4% |
| Financial fixed assets | 28 | €1,948 | €1,948 | = | 0.0% |
| Current assets | 29/58 | €258,729 | €279,155 | +€20,426 | +7.9% |
| Stocks and contracts in progress | 3 | €138,412 | €141,829 | +€3,417 | +2.5% |
| Stocks | 30/36 | €138,412 | €141,829 | +€3,417 | +2.5% |
| Amounts receivable within one year | 40/41 | €16,132 | €17,455 | +€1,324 | +8.2% |
| Trade receivables | 40 | €985 | €6,284 | +€5,299 | +538.0% |
| Other amounts receivable | 41 | €15,147 | €11,171 | -€3,976 | -26.2% |
| Cash at bank and in hand | 54/58 | €84,225 | €98,936 | +€14,712 | +17.5% |
| Deferred charges and accrued income | 490/1 | €19,961 | €20,935 | +€974 | +4.9% |
| Total equity and liabilities | 10/49 | €301,775 | €301,957 | +€182 | +0.1% |
| Equity | 10/15 | €119,698 | €109,360 | -€10,338 | -8.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €44,698 | €44,698 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €44,698 | €44,698 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€10,338 | -€10,338 | |
| Amounts payable | 17/49 | €182,078 | €192,597 | +€10,520 | +5.8% |
| Amounts payable after more than one year | 17 | €41,611 | €0 | -€41,611 | -100.0% |
| Financial debts | 170/4 | €2,470 | €0 | -€2,470 | -100.0% |
| Other amounts payable | 178/9 | €39,142 | €0 | -€39,142 | -100.0% |
| Amounts payable within one year | 42/48 | €132,575 | €182,248 | +€49,673 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €12,413 | €2,767 | -€9,647 | -77.7% |
| Trade debts | 44 | €89,212 | €112,037 | +€22,826 | +25.6% |
| Suppliers | 440/4 | €89,212 | €112,037 | +€22,826 | +25.6% |
| Taxes, remuneration and social security | 45 | €29,867 | €23,752 | -€6,115 | -20.5% |
| Taxes | 450/3 | €2,306 | €1,611 | -€694 | -30.1% |
| Remuneration and social security | 454/9 | €27,561 | €22,141 | -€5,421 | -19.7% |
| Other amounts payable | 47/48 | €1,083 | €43,692 | +€42,609 | +3935.3% |
| Accrued charges and deferred income | 492/3 | €7,891 | €10,349 | +€2,458 | +31.1% |
| Non-recurring operating income | 76A | €6,141 | €0 | -€6,141 | -100.0% |
| Remuneration, social security and pensions | 62 | €271,921 | €245,211 | -€26,710 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,779 | €20,245 | -€28,534 | -58.5% |
| Other operating charges | 640/8 | €6,748 | €6,838 | +€91 | +1.3% |
| Gross operating margin | 9900 | €346,879 | €278,215 | -€68,663 | -19.8% |
| Operating profit (loss) | 9901 | €19,431 | €5,922 | -€13,509 | -69.5% |
| Financial income | 75/76B | €3,832 | €2,541 | -€1,291 | -33.7% |
| Recurring financial income | 75 | €3,832 | €2,541 | -€1,291 | -33.7% |
| Financial charges | 65/66B | €11,260 | €18,089 | +€6,829 | +60.7% |
| Recurring financial charges | 65 | €11,260 | €18,089 | +€6,829 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €12,003 | -€9,627 | -€21,630 | |
| Income taxes | 67/77 | €585 | €711 | +€126 | +21.6% |
| Profit (loss) for the period | 9904 | €11,418 | -€10,338 | -€21,756 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,418 | -€10,338 | -€21,756 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.