WATCH LOUNGE: 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.
WATCH LOUNGE
Largest movements
- Tangible fixed assets -€60,346
down €60,346 (-5.0%), from €1.2m to €1.2m
of which Land and buildings: -€57,811
- Trade debts +€302,898
up €302,898 (+56.9%), from €532,617 to €835,515
- Profit (loss) carried forward -€279,383
down €279,383 (-23.3%), from €1.2m to €921,475
- Tax, wage and social debts -€122,465
down €122,465 (-44.9%), from €272,725 to €150,259
of which Taxes: -€133,649
- Debts after one year -€43,286
down €43,286 (-4.4%), from €978,613 to €935,328
- Other debts +€37,634
up €37,634 (+27.6%), from €136,523 to €174,157
- Gross operating margin -€211,059
down €211,059 (-40.0%), from €527,719 to €316,659
- Staff costs +€64,544
up €64,544 (+16.9%), from €382,575 to €447,119
- Taxes -€49,515
down €49,515, from €35,713 to -€13,802
- Financial charges +€30,153
up €30,153 (+60.9%), from €49,485 to €79,639
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 | €3,715,785 | €3,612,627 | -€103,158 | -2.8% |
| Fixed assets | 21/28 | €2,198,522 | €2,138,939 | -€59,583 | -2.7% |
| Tangible fixed assets | 22/27 | €1,216,315 | €1,155,969 | -€60,346 | -5.0% |
| Land and buildings | 22 | €1,187,549 | €1,129,738 | -€57,811 | -4.9% |
| Plant, machinery and equipment | 23 | €17,045 | €13,862 | -€3,183 | -18.7% |
| Furniture and vehicles | 24 | - | €486 | +€486 | |
| Other tangible fixed assets | 26 | €11,721 | €11,883 | +€161 | +1.4% |
| Financial fixed assets | 28 | €982,207 | €982,970 | +€763 | +0.1% |
| Current assets | 29/58 | €1,517,263 | €1,473,688 | -€43,575 | -2.9% |
| Stocks and contracts in progress | 3 | €1,302,624 | €1,287,576 | -€15,048 | -1.2% |
| Stocks | 30/36 | €1,302,624 | €1,287,576 | -€15,048 | -1.2% |
| Amounts receivable within one year | 40/41 | €198,542 | €168,888 | -€29,655 | -14.9% |
| Trade receivables | 40 | €195,515 | €168,884 | -€26,631 | -13.6% |
| Other amounts receivable | 41 | €3,027 | €3 | -€3,024 | -99.9% |
| Cash at bank and in hand | 54/58 | €16,097 | €16,653 | +€556 | +3.5% |
| Deferred charges and accrued income | 490/1 | - | €572 | +€572 | |
| Total equity and liabilities | 10/49 | €3,715,785 | €3,612,627 | -€103,158 | -2.8% |
| Equity | 10/15 | €1,653,465 | €1,374,082 | -€279,383 | -16.9% |
| Contributions | 10/11 | €137,500 | €137,500 | = | 0.0% |
| Revaluation surpluses | 12 | €301,357 | €301,357 | = | 0.0% |
| Reserves | 13 | €13,750 | €13,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,750 | €13,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,750 | €13,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,200,857 | €921,475 | -€279,383 | -23.3% |
| Amounts payable | 17/49 | €2,062,321 | €2,238,545 | +€176,224 | +8.5% |
| Amounts payable after more than one year | 17 | €978,613 | €935,328 | -€43,286 | -4.4% |
| Financial debts | 170/4 | €978,613 | €935,328 | -€43,286 | -4.4% |
| Amounts payable within one year | 42/48 | €1,083,707 | €1,303,217 | +€219,510 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €141,842 | €143,286 | +€1,444 | +1.0% |
| Trade debts | 44 | €532,617 | €835,515 | +€302,898 | +56.9% |
| Suppliers | 440/4 | €532,617 | €835,515 | +€302,898 | +56.9% |
| Taxes, remuneration and social security | 45 | €272,725 | €150,259 | -€122,465 | -44.9% |
| Taxes | 450/3 | €224,949 | €91,301 | -€133,649 | -59.4% |
| Remuneration and social security | 454/9 | €47,776 | €58,959 | +€11,183 | +23.4% |
| Other amounts payable | 47/48 | €136,523 | €174,157 | +€37,634 | +27.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €382,575 | €447,119 | +€64,544 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,871 | €63,178 | +€1,308 | +2.1% |
| Other operating charges | 640/8 | €25,277 | €20,021 | -€5,257 | -20.8% |
| Gross operating margin | 9900 | €527,719 | €316,659 | -€211,059 | -40.0% |
| Operating profit (loss) | 9901 | €57,995 | -€213,659 | -€271,654 | |
| Financial income | 75/76B | €112 | €112 | +€0 | +0.3% |
| Recurring financial income | 75 | €112 | €112 | +€0 | +0.3% |
| Financial charges | 65/66B | €49,485 | €79,639 | +€30,153 | +60.9% |
| Recurring financial charges | 65 | €49,485 | €79,639 | +€30,153 | +60.9% |
| Profit (loss) for the period before taxes | 9903 | €8,622 | -€293,185 | -€301,807 | |
| Income taxes | 67/77 | €35,713 | -€13,802 | -€49,515 | |
| Profit (loss) for the period | 9904 | -€27,091 | -€279,383 | -€252,292 | -931% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,091 | -€279,383 | -€252,292 | -931% |
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.