WATCHCO: 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.
WATCHCO
Largest movements
- Receivables within one year +€111,392
up €111,392 (+518.0%), from €21,505 to €132,897
of which Other amounts receivable: +€104,407
- Cash -€89,401
down €89,401 (-98.9%), from €90,374 to €973
mainly Receivables within one year (-€111,392) and Other debts (-€68,337)
- Tangible fixed assets -€20,067
down €20,067 (-7.7%), from €261,510 to €241,443
of which Land and buildings: -€10,202
- Other debts -€68,337
down €68,337 (-36.5%), from €187,337 to €119,000
- Profit (loss) carried forward +€49,554
up €49,554, from -€16,840 to €32,714
- Tax, wage and social debts +€17,742
up €17,742 (+94.2%), from €18,829 to €36,571
of which Taxes: +€15,603
- Taxes +€26,018
up €26,018 (+9803.3%), from €265 to €26,283
- Gross operating margin +€17,193
up €17,193 (+14.3%), from €120,323 to €137,517
- Staff costs +€10,142
up €10,142 (+63.3%), from €16,021 to €26,162
- Depreciation -€6,276
down €6,276 (-17.6%), from €35,754 to €29,478
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 | €374,685 | €380,023 | +€5,338 | +1.4% |
| Fixed assets | 21/28 | €262,805 | €242,738 | -€20,067 | -7.6% |
| Tangible fixed assets | 22/27 | €261,510 | €241,443 | -€20,067 | -7.7% |
| Land and buildings | 22 | €247,149 | €236,947 | -€10,202 | -4.1% |
| Plant, machinery and equipment | 23 | €1,537 | €0 | -€1,537 | -100.0% |
| Furniture and vehicles | 24 | €12,825 | €4,496 | -€8,329 | -64.9% |
| Financial fixed assets | 28 | €1,295 | €1,295 | = | 0.0% |
| Current assets | 29/58 | €111,879 | €137,285 | +€25,406 | +22.7% |
| Amounts receivable within one year | 40/41 | €21,505 | €132,897 | +€111,392 | +518.0% |
| Trade receivables | 40 | €21,505 | €28,490 | +€6,985 | +32.5% |
| Other amounts receivable | 41 | - | €104,407 | +€104,407 | |
| Cash at bank and in hand | 54/58 | €90,374 | €973 | -€89,401 | -98.9% |
| Deferred charges and accrued income | 490/1 | - | €3,415 | +€3,415 | |
| Total equity and liabilities | 10/49 | €374,685 | €380,023 | +€5,338 | +1.4% |
| Equity | 10/15 | €152,450 | €202,004 | +€49,554 | +32.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €107,790 | €107,790 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €101,640 | €101,640 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,840 | €32,714 | +€49,554 | |
| Amounts payable | 17/49 | €222,234 | €178,019 | -€44,215 | -19.9% |
| Amounts payable within one year | 42/48 | €218,138 | €170,350 | -€47,788 | -21.9% |
| Trade debts | 44 | €11,972 | €14,779 | +€2,806 | +23.4% |
| Suppliers | 440/4 | €11,972 | €14,779 | +€2,806 | +23.4% |
| Taxes, remuneration and social security | 45 | €18,829 | €36,571 | +€17,742 | +94.2% |
| Taxes | 450/3 | €16,032 | €31,635 | +€15,603 | +97.3% |
| Remuneration and social security | 454/9 | €2,797 | €4,936 | +€2,139 | +76.5% |
| Other amounts payable | 47/48 | €187,337 | €119,000 | -€68,337 | -36.5% |
| Accrued charges and deferred income | 492/3 | €4,096 | €7,669 | +€3,572 | +87.2% |
| Remuneration, social security and pensions | 62 | €16,021 | €26,162 | +€10,142 | +63.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,754 | €29,478 | -€6,276 | -17.6% |
| Other operating charges | 640/8 | €3,432 | €4,028 | +€596 | +17.4% |
| Non-recurring operating charges | 66A | - | €410 | +€410 | |
| Gross operating margin | 9900 | €120,323 | €137,517 | +€17,193 | +14.3% |
| Operating profit (loss) | 9901 | €65,117 | €77,438 | +€12,321 | +18.9% |
| Financial income | 75/76B | €1,296 | €2,621 | +€1,324 | +102.2% |
| Recurring financial income | 75 | €1,296 | €2,621 | +€1,324 | +102.2% |
| Financial charges | 65/66B | €4,791 | €4,222 | -€569 | -11.9% |
| Recurring financial charges | 65 | €4,791 | €4,222 | -€569 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €61,622 | €75,837 | +€14,215 | +23.1% |
| Income taxes | 67/77 | €265 | €26,283 | +€26,018 | +9803.3% |
| Profit (loss) for the period | 9904 | €61,357 | €49,554 | -€11,803 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,357 | €49,554 | -€11,803 | -19.2% |
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 2 October 2026 via checked.be.