WATCHKRAFT: 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.
WATCHKRAFT
Largest movements
- Cash +€26,923
up €26,923 (+14.6%), from €184,498 to €211,421
mainly Net result for the year (+€23,952) and Depreciation (+€15,801)
- Receivables within one year +€21,320
up €21,320 (+172%), from €12,428 to €33,748
of which Trade receivables: +€16,353
- Tangible fixed assets -€7,376
down €7,376 (-15.5%), from €47,679 to €40,303
of which Furniture and vehicles: -€5,155
- Reserves +€23,952
up €23,952 (+10.7%), from €223,658 to €247,610
of which Distributable reserves: +€23,952
- Other debts +€8,344
up €8,344 (+2,575%), from €324 to €8,668
- Trade debts +€6,974
up €6,974 (+346%), from €2,014 to €8,988
- Gross operating margin -€15,885
down €15,885 (-23.9%), from €66,506 to €50,621
- Taxes -€3,608
down €3,608 (-26.5%), from €13,634 to €10,026
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 | €247,928 | €288,981 | +€41,053 | +16.6% |
| Fixed assets | 21/28 | €47,679 | €40,303 | -€7,376 | -15.5% |
| Tangible fixed assets | 22/27 | €47,679 | €40,303 | -€7,376 | -15.5% |
| Plant, machinery and equipment | 23 | €9,325 | €7,104 | -€2,221 | -23.8% |
| Furniture and vehicles | 24 | €38,354 | €33,199 | -€5,155 | -13.4% |
| Current assets | 29/58 | €200,249 | €248,678 | +€48,429 | +24.2% |
| Stocks and contracts in progress | 3 | €1,100 | €800 | -€300 | -27.3% |
| Stocks | 30/36 | €1,100 | €800 | -€300 | -27.3% |
| Amounts receivable within one year | 40/41 | €12,428 | €33,748 | +€21,320 | +172% |
| Trade receivables | 40 | €9,025 | €25,378 | +€16,353 | +181% |
| Other amounts receivable | 41 | €3,403 | €8,370 | +€4,967 | +146% |
| Current investments | 50/53 | €41 | - | -€41 | |
| Cash at bank and in hand | 54/58 | €184,498 | €211,421 | +€26,923 | +14.6% |
| Deferred charges and accrued income | 490/1 | €2,182 | €2,709 | +€527 | +24.2% |
| Total equity and liabilities | 10/49 | €247,928 | €288,981 | +€41,053 | +16.6% |
| Equity | 10/15 | €236,058 | €260,010 | +€23,952 | +10.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €223,658 | €247,610 | +€23,952 | +10.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,500 | €31,500 | = | 0.0% |
| Distributable reserves | 133 | €190,298 | €214,250 | +€23,952 | +12.6% |
| Amounts payable | 17/49 | €11,870 | €28,971 | +€17,101 | +144% |
| Amounts payable within one year | 42/48 | €7,370 | €24,171 | +€16,801 | +228% |
| Trade debts | 44 | €2,014 | €8,988 | +€6,974 | +346% |
| Suppliers | 440/4 | €2,014 | €8,988 | +€6,974 | +346% |
| Taxes, remuneration and social security | 45 | €5,032 | €6,515 | +€1,483 | +29.5% |
| Taxes | 450/3 | €5,032 | €6,515 | +€1,483 | +29.5% |
| Other amounts payable | 47/48 | €324 | €8,668 | +€8,344 | +2,575% |
| Accrued charges and deferred income | 492/3 | €4,500 | €4,800 | +€300 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,299 | €15,801 | +€502 | +3.3% |
| Other operating charges | 640/8 | €393 | €510 | +€117 | +29.8% |
| Gross operating margin | 9900 | €66,506 | €50,621 | -€15,885 | -23.9% |
| Operating profit (loss) | 9901 | €50,814 | €34,310 | -€16,504 | -32.5% |
| Financial income | 75/76B | €49 | €6 | -€43 | -87.8% |
| Recurring financial income | 75 | €49 | €6 | -€43 | -87.8% |
| Financial charges | 65/66B | €767 | €338 | -€429 | -55.9% |
| Recurring financial charges | 65 | €767 | €338 | -€429 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €50,096 | €33,978 | -€16,118 | -32.2% |
| Income taxes | 67/77 | €13,634 | €10,026 | -€3,608 | -26.5% |
| Profit (loss) for the period | 9904 | €36,462 | €23,952 | -€12,510 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,462 | €23,952 | -€12,510 | -34.3% |
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 26 October 2026 via checked.be.