WATER WARMING TECHNOLOGY: 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 WARMING TECHNOLOGY
Largest movements
- Receivables within one year -€100,455
down €100,455 (-42.2%), from €238,222 to €137,767
of which Trade receivables: -€103,812
- Tangible fixed assets -€56,424
down €56,424 (-27.5%), from €205,136 to €148,712
of which Furniture and vehicles: -€49,513
- Deferred charges and accrued income +€7,065
up €7,065 (+225%), from €3,140 to €10,205
- Profit (loss) carried forward -€245,478
down €245,478, from €20,082 to -€225,396
- Tax, wage and social debts +€68,263
up €68,263 (+120%), from €56,662 to €124,926
of which Remuneration and social security: +€83,327
- Short-term financial debts +€60,000
new in 2025: €60,000
- Debts after one year -€30,727
down €30,727 (-21.3%), from €144,485 to €113,758
- Trade debts +€7,378
up €7,378 (+3.8%), from €196,018 to €203,396
- Staff costs +€282,876
up €282,876 (+115%), from €246,715 to €529,591
- Gross operating margin +€80,351
up €80,351 (+24.8%), from €324,142 to €404,493
- Other operating charges +€19,151
up €19,151 (+361%), from €5,303 to €24,455
- Depreciation +€17,085
up €17,085 (+33.3%), from €51,233 to €68,317
- Financial charges +€15,422
up €15,422 (+138%), from €11,188 to €26,609
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 | €483,022 | €331,793 | -€151,229 | -31.3% |
| Fixed assets | 21/28 | €208,146 | €151,722 | -€56,424 | -27.1% |
| Tangible fixed assets | 22/27 | €205,136 | €148,712 | -€56,424 | -27.5% |
| Plant, machinery and equipment | 23 | €24,191 | €17,820 | -€6,371 | -26.3% |
| Furniture and vehicles | 24 | €173,755 | €124,242 | -€49,513 | -28.5% |
| Leasing and similar rights | 25 | €6,400 | €3,919 | -€2,481 | -38.8% |
| Other tangible fixed assets | 26 | €790 | €2,730 | +€1,940 | +245% |
| Financial fixed assets | 28 | €3,010 | €3,010 | = | 0.0% |
| Current assets | 29/58 | €274,876 | €180,071 | -€94,805 | -34.5% |
| Stocks and contracts in progress | 3 | €26,498 | €25,000 | -€1,498 | -5.7% |
| Stocks | 30/36 | €26,498 | €25,000 | -€1,498 | -5.7% |
| Amounts receivable within one year | 40/41 | €238,222 | €137,767 | -€100,455 | -42.2% |
| Trade receivables | 40 | €210,520 | €106,708 | -€103,812 | -49.3% |
| Other amounts receivable | 41 | €27,702 | €31,059 | +€3,356 | +12.1% |
| Cash at bank and in hand | 54/58 | €7,015 | €7,099 | +€84 | +1.2% |
| Deferred charges and accrued income | 490/1 | €3,140 | €10,205 | +€7,065 | +225% |
| Total equity and liabilities | 10/49 | €483,022 | €331,793 | -€151,229 | -31.3% |
| Equity | 10/15 | €40,542 | -€204,936 | -€245,478 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,082 | -€225,396 | -€245,478 | |
| Amounts payable | 17/49 | €442,480 | €536,729 | +€94,249 | +21.3% |
| Amounts payable after more than one year | 17 | €144,485 | €113,758 | -€30,727 | -21.3% |
| Financial debts | 170/4 | €144,485 | €113,758 | -€30,727 | -21.3% |
| Amounts payable within one year | 42/48 | €294,877 | €421,728 | +€126,850 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €36,095 | €33,406 | -€2,689 | -7.4% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Other loans | 439 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €196,018 | €203,396 | +€7,378 | +3.8% |
| Suppliers | 440/4 | €196,018 | €203,396 | +€7,378 | +3.8% |
| Taxes, remuneration and social security | 45 | €56,662 | €124,926 | +€68,263 | +120% |
| Taxes | 450/3 | €15,935 | €871 | -€15,064 | -94.5% |
| Remuneration and social security | 454/9 | €40,727 | €124,055 | +€83,327 | +205% |
| Other amounts payable | 47/48 | €6,102 | - | -€6,102 | |
| Accrued charges and deferred income | 492/3 | €3,117 | €1,244 | -€1,874 | -60.1% |
| Non-recurring operating income | 76A | - | €17,438 | +€17,438 | |
| Remuneration, social security and pensions | 62 | €246,715 | €529,591 | +€282,876 | +115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,233 | €68,317 | +€17,085 | +33.3% |
| Other operating charges | 640/8 | €5,303 | €24,455 | +€19,151 | +361% |
| Non-recurring operating charges | 66A | - | €1,089 | +€1,089 | |
| Gross operating margin | 9900 | €324,142 | €404,493 | +€80,351 | +24.8% |
| Operating profit (loss) | 9901 | €20,892 | -€218,958 | -€239,850 | |
| Financial income | 75/76B | €131 | €212 | +€81 | +62.4% |
| Recurring financial income | 75 | €131 | €212 | +€81 | +62.4% |
| Financial charges | 65/66B | €11,188 | €26,609 | +€15,422 | +138% |
| Recurring financial charges | 65 | €11,188 | €26,609 | +€15,422 | +138% |
| Profit (loss) for the period before taxes | 9903 | €9,834 | -€245,355 | -€255,190 | |
| Income taxes | 67/77 | €654 | €123 | -€531 | -81.2% |
| Profit (loss) for the period | 9904 | €9,180 | -€245,478 | -€254,659 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,180 | -€245,478 | -€254,659 |
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 24 October 2026 via checked.be.