WATER & WIND: 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 & WIND
Largest movements
- Receivables within one year -€22,386
down €22,386 (-79.1%), from €28,289 to €5,903
of which Trade receivables: -€21,430
- Tangible fixed assets -€5,445
down €5,445 (-88.5%), from €6,156 to €711
of which Land and buildings: -€5,445
- Other debts -€26,600
down €26,600 (-35.1%), from €75,805 to €49,206
- Profit (loss) carried forward -€4,652
down €4,652 (-7.1%), from -€65,477 to -€70,128
- Short-term financial debts +€2,895
new in 2025: €2,895
- Trade debts +€2,597
up €2,597 (+37.8%), from €6,878 to €9,474
- Investment grants -€2,071
down €2,071 (-100%), from €2,071 to €0
- Gross operating margin +€411
up €411 (+26.7%), from -€1,539 to -€1,127
- Other operating charges +€63
up €63 (+93.8%), from €67 to €129
- Financial charges +€21
new in 2025: €21
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 | €38,127 | €10,296 | -€27,831 | -73.0% |
| Fixed assets | 21/28 | €6,156 | €711 | -€5,445 | -88.5% |
| Tangible fixed assets | 22/27 | €6,156 | €711 | -€5,445 | -88.5% |
| Land and buildings | 22 | €6,156 | €711 | -€5,445 | -88.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €31,972 | €9,585 | -€22,386 | -70.0% |
| Stocks and contracts in progress | 3 | €3,678 | €3,678 | = | 0.0% |
| Stocks | 30/36 | €3,678 | €3,678 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,289 | €5,903 | -€22,386 | -79.1% |
| Trade receivables | 40 | €27,284 | €5,855 | -€21,430 | -78.5% |
| Other amounts receivable | 41 | €1,005 | €48 | -€956 | -95.2% |
| Cash at bank and in hand | 54/58 | €4 | €4 | = | 0.0% |
| Total equity and liabilities | 10/49 | €38,127 | €10,296 | -€27,831 | -73.0% |
| Equity | 10/15 | -€44,556 | -€51,278 | -€6,723 | -15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250 | €250 | = | 0.0% |
| Distributable reserves | 133 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,477 | -€70,128 | -€4,652 | -7.1% |
| Investment grants | 15 | €2,071 | €0 | -€2,071 | -100% |
| Amounts payable | 17/49 | €82,683 | €61,575 | -€21,108 | -25.5% |
| Amounts payable within one year | 42/48 | €82,683 | €61,575 | -€21,108 | -25.5% |
| Financial debts | 43 | - | €2,895 | +€2,895 | |
| Credit institutions | 430/8 | - | €2,895 | +€2,895 | |
| Trade debts | 44 | €6,878 | €9,474 | +€2,597 | +37.8% |
| Suppliers | 440/4 | €6,878 | €9,474 | +€2,597 | +37.8% |
| Other amounts payable | 47/48 | €75,805 | €49,206 | -€26,600 | -35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,445 | €5,445 | +€0 | 0.0% |
| Other operating charges | 640/8 | €67 | €129 | +€63 | +93.8% |
| Gross operating margin | 9900 | -€1,539 | -€1,127 | +€411 | +26.7% |
| Operating profit (loss) | 9901 | -€7,050 | -€6,702 | +€349 | +4.9% |
| Financial income | 75/76B | €2,071 | €2,071 | -€0 | 0.0% |
| Recurring financial income | 75 | €2,071 | €2,071 | -€0 | 0.0% |
| Financial charges | 65/66B | - | €21 | +€21 | |
| Recurring financial charges | 65 | - | €21 | +€21 | |
| Profit (loss) for the period before taxes | 9903 | -€4,979 | -€4,652 | +€328 | +6.6% |
| Profit (loss) for the period | 9904 | -€4,979 | -€4,652 | +€328 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,979 | -€4,652 | +€328 | +6.6% |
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 16 October 2026 via checked.be.