WATER & CONSTRUCT EXPERTISE: 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.
WATER & CONSTRUCT EXPERTISE
Largest movements
- Current investments +€20,000
up €20,000 (+25.0%), from €80,000 to €100,000
- Receivables within one year +€7,146
up €7,146 (+225%), from €3,182 to €10,329
- Cash -€6,056
down €6,056 (-19.7%), from €30,733 to €24,677
mainly Current investments (-€20,000) and Tax, wage and social debts (-€7,318)
- Deferred charges and accrued income +€2,307
up €2,307 (+262%), from €880 to €3,187
- Tangible fixed assets +€2,144
up €2,144 (+3,896%), from €55 to €2,199
of which Other tangible fixed assets: +€2,199
- Reserves +€30,000
up €30,000 (+37.0%), from €81,000 to €111,000
- Tax, wage and social debts -€7,318
down €7,318 (-25.5%), from €28,701 to €21,383
- Trade debts +€1,781
up €1,781 (+957%), from €186 to €1,967
- Gross operating margin +€1,935
up €1,935 (+4.7%), from €41,076 to €43,012
- Taxes +€665
up €665 (+5.8%), from €11,411 to €12,076
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 | €114,850 | €140,391 | +€25,541 | +22.2% |
| Fixed assets | 21/28 | €55 | €2,199 | +€2,144 | +3,896% |
| Tangible fixed assets | 22/27 | €55 | €2,199 | +€2,144 | +3,896% |
| Furniture and vehicles | 24 | €55 | - | -€55 | |
| Other tangible fixed assets | 26 | - | €2,199 | +€2,199 | |
| Current assets | 29/58 | €114,795 | €138,192 | +€23,397 | +20.4% |
| Amounts receivable within one year | 40/41 | €3,182 | €10,329 | +€7,146 | +225% |
| Trade receivables | 40 | €3,182 | €10,329 | +€7,146 | +225% |
| Current investments | 50/53 | €80,000 | €100,000 | +€20,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €30,733 | €24,677 | -€6,056 | -19.7% |
| Deferred charges and accrued income | 490/1 | €880 | €3,187 | +€2,307 | +262% |
| Total equity and liabilities | 10/49 | €114,850 | €140,391 | +€25,541 | +22.2% |
| Equity | 10/15 | €83,389 | €113,674 | +€30,285 | +36.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €81,000 | €111,000 | +€30,000 | +37.0% |
| Distributable reserves | 133 | €81,000 | €111,000 | +€30,000 | +37.0% |
| Profit (loss) carried forward | 14 | €389 | €674 | +€285 | +73.2% |
| Amounts payable | 17/49 | €31,461 | €26,717 | -€4,744 | -15.1% |
| Amounts payable within one year | 42/48 | €31,018 | €26,330 | -€4,688 | -15.1% |
| Trade debts | 44 | €186 | €1,967 | +€1,781 | +957% |
| Suppliers | 440/4 | €186 | €1,967 | +€1,781 | +957% |
| Taxes, remuneration and social security | 45 | €28,701 | €21,383 | -€7,318 | -25.5% |
| Taxes | 450/3 | €28,701 | €21,383 | -€7,318 | -25.5% |
| Other amounts payable | 47/48 | €2,131 | €2,980 | +€848 | +39.8% |
| Accrued charges and deferred income | 492/3 | €443 | €387 | -€56 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161 | €217 | +€56 | +34.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €41,076 | €43,012 | +€1,935 | +4.7% |
| Operating profit (loss) | 9901 | €40,528 | €42,395 | +€1,867 | +4.6% |
| Financial income | 75/76B | - | €362 | +€362 | |
| Recurring financial income | 75 | - | €362 | +€362 | |
| Financial charges | 65/66B | €23 | €397 | +€373 | +1,603% |
| Recurring financial charges | 65 | €23 | €397 | +€373 | +1,603% |
| Profit (loss) for the period before taxes | 9903 | €40,505 | €42,361 | +€1,856 | +4.6% |
| Income taxes | 67/77 | €11,411 | €12,076 | +€665 | +5.8% |
| Profit (loss) for the period | 9904 | €29,094 | €30,285 | +€1,191 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,094 | €30,285 | +€1,191 | +4.1% |
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 14 October 2026 via checked.be.