WATER EXPERTS: 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 EXPERTS
Largest movements
- Receivables within one year +€108,795
up €108,795 (+79.5%), from €136,921 to €245,716
of which Trade receivables: +€76,537
- Cash -€47,463
down €47,463 (-53.7%), from €88,435 to €40,973
mainly Contributions, distributions and other (-€136,458) and Receivables within one year (-€108,795)
- Profit (loss) carried forward -€136,458
down €136,458 (-100%), from €136,458 to €0
- Trade debts +€109,475
up €109,475 (+433%), from €25,302 to €134,777
- Other debts +€67,746
up €67,746 (+5,018%), from €1,350 to €69,096
- Reserves +€46,958
new in 2025: €46,958
- Tax, wage and social debts -€37,356
down €37,356 (-59.2%), from €63,140 to €25,784
of which Taxes: -€42,256
- Turnover -€486,379
no longer reported in 2025 (was €486,379)
- Purchases and services -€117,762
no longer reported in 2025 (was €117,762)
- Gross operating margin -€73,936
down €73,936 (-19.1%), from €387,172 to €313,236
- Staff costs +€35,532
up €35,532 (+16.9%), from €209,996 to €245,528
- Taxes -€27,612
down €27,612 (-58.9%), from €46,845 to €19,233
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 | €229,250 | €287,231 | +€57,981 | +25.3% |
| Formation expenses | 20 | €237 | €0 | -€237 | -100% |
| Fixed assets | 21/28 | €502 | €225 | -€277 | -55.2% |
| Tangible fixed assets | 22/27 | €277 | €0 | -€277 | -100% |
| Plant, machinery and equipment | 23 | €277 | €0 | -€277 | -100% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €228,511 | €287,006 | +€58,495 | +25.6% |
| Amounts receivable within one year | 40/41 | €136,921 | €245,716 | +€108,795 | +79.5% |
| Trade receivables | 40 | €125,541 | €202,078 | +€76,537 | +61.0% |
| Other amounts receivable | 41 | €11,380 | €43,638 | +€32,258 | +283% |
| Cash at bank and in hand | 54/58 | €88,435 | €40,973 | -€47,463 | -53.7% |
| Deferred charges and accrued income | 490/1 | €3,155 | €317 | -€2,837 | -89.9% |
| Total equity and liabilities | 10/49 | €229,250 | €287,231 | +€57,981 | +25.3% |
| Equity | 10/15 | €139,458 | €49,958 | -€89,500 | -64.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €46,958 | +€46,958 | |
| Distributable reserves | 133 | - | €46,958 | +€46,958 | |
| Profit (loss) carried forward | 14 | €136,458 | €0 | -€136,458 | -100% |
| Amounts payable | 17/49 | €89,791 | €237,273 | +€147,481 | +164% |
| Amounts payable within one year | 42/48 | €89,791 | €237,273 | +€147,481 | +164% |
| Financial debts | 43 | - | €7,616 | +€7,616 | |
| Other loans | 439 | - | €7,616 | +€7,616 | |
| Trade debts | 44 | €25,302 | €134,777 | +€109,475 | +433% |
| Suppliers | 440/4 | €25,302 | €134,777 | +€109,475 | +433% |
| Taxes, remuneration and social security | 45 | €63,140 | €25,784 | -€37,356 | -59.2% |
| Taxes | 450/3 | €48,371 | €6,115 | -€42,256 | -87.4% |
| Remuneration and social security | 454/9 | €14,769 | €19,669 | +€4,900 | +33.2% |
| Other amounts payable | 47/48 | €1,350 | €69,096 | +€67,746 | +5,018% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €486,379 | - | -€486,379 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €117,762 | - | -€117,762 | |
| Remuneration, social security and pensions | 62 | €209,996 | €245,528 | +€35,532 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €577 | €514 | -€63 | -11.0% |
| Other operating charges | 640/8 | €1,408 | €544 | -€864 | -61.4% |
| Gross operating margin | 9900 | €387,172 | €313,236 | -€73,936 | -19.1% |
| Operating profit (loss) | 9901 | €175,191 | €66,650 | -€108,540 | -62.0% |
| Financial income | 75/76B | €2,381 | €317 | -€2,064 | -86.7% |
| Recurring financial income | 75 | €2,381 | €317 | -€2,064 | -86.7% |
| Financial charges | 65/66B | €354 | €776 | +€422 | +119% |
| Recurring financial charges | 65 | €354 | €776 | +€422 | +119% |
| Profit (loss) for the period before taxes | 9903 | €177,218 | €66,192 | -€111,027 | -62.6% |
| Income taxes | 67/77 | €46,845 | €19,233 | -€27,612 | -58.9% |
| Profit (loss) for the period | 9904 | €130,373 | €46,958 | -€83,415 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €130,373 | €46,958 | -€83,415 | -64.0% |
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 28 October 2026 via checked.be.