WATERCONSTRUCT: what changed
Two fiscal 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.
WATERCONSTRUCT
Largest movements
- Receivables within one year +€110,452
up €110,452 (+69.9%), from €157,920 to €268,373
of which Trade receivables: +€80,319
- Tangible fixed assets +€31,236
up €31,236 (+37.0%), from €84,353 to €115,590
of which Furniture and vehicles: +€31,342
- Stocks and contracts +€22,471
up €22,471 (+29.4%), from €76,529 to €99,000
- Trade debts +€80,598
up €80,598 (+194.1%), from €41,522 to €122,120
- Advances received +€56,225
up €56,225 (+2073.6%), from €2,711 to €58,936
- Debts after one year +€11,946
up €11,946 (+13.1%), from €90,949 to €102,895
- Current portion of long-term debt +€8,900
up €8,900 (+54.6%), from €16,295 to €25,195
- Profit (loss) carried forward +€7,772
up €7,772 (+33.2%), from €23,441 to €31,213
- Depreciation +€19,707
up €19,707 (+124.2%), from €15,868 to €35,575
- Gross operating margin +€9,344
up €9,344 (+18.9%), from €49,517 to €58,861
- Financial charges +€4,002
up €4,002 (+35.7%), from €11,205 to €15,207
- Taxes -€3,309
down €3,309 (-56.2%), from €5,892 to €2,584
- Financial income +€2,528
up €2,528 (+240.2%), from €1,053 to €3,581
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.
Cash bridge derived
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 | €343,890 | €503,818 | +€159,928 | +46.5% |
| Fixed assets | 21/28 | €84,355 | €115,592 | +€31,236 | +37.0% |
| Intangible fixed assets | 21 | €2 | €2 | = | 0.0% |
| Tangible fixed assets | 22/27 | €84,353 | €115,590 | +€31,236 | +37.0% |
| Plant, machinery and equipment | 23 | €29,860 | €29,754 | -€105 | -0.4% |
| Furniture and vehicles | 24 | €54,494 | €85,835 | +€31,342 | +57.5% |
| Current assets | 29/58 | €259,534 | €388,226 | +€128,692 | +49.6% |
| Stocks and contracts in progress | 3 | €76,529 | €99,000 | +€22,471 | +29.4% |
| Stocks | 30/36 | €76,529 | €99,000 | +€22,471 | +29.4% |
| Amounts receivable within one year | 40/41 | €157,920 | €268,373 | +€110,452 | +69.9% |
| Trade receivables | 40 | €124,569 | €204,888 | +€80,319 | +64.5% |
| Other amounts receivable | 41 | €33,352 | €63,485 | +€30,133 | +90.4% |
| Cash at bank and in hand | 54/58 | €25,084 | €20,853 | -€4,232 | -16.9% |
| Total equity and liabilities | 10/49 | €343,890 | €503,818 | +€159,928 | +46.5% |
| Equity | 10/15 | €63,441 | €71,213 | +€7,772 | +12.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,441 | €31,213 | +€7,772 | +33.2% |
| Amounts payable | 17/49 | €280,448 | €432,605 | +€152,156 | +54.3% |
| Amounts payable after more than one year | 17 | €90,949 | €102,895 | +€11,946 | +13.1% |
| Financial debts | 170/4 | €90,949 | €102,895 | +€11,946 | +13.1% |
| Amounts payable within one year | 42/48 | €189,499 | €329,710 | +€140,211 | +74.0% |
| Current portion of amounts payable after more than one year | 42 | €16,295 | €25,195 | +€8,900 | +54.6% |
| Trade debts | 44 | €41,522 | €122,120 | +€80,598 | +194.1% |
| Suppliers | 440/4 | €41,522 | €122,120 | +€80,598 | +194.1% |
| Advances received on contracts in progress | 46 | €2,711 | €58,936 | +€56,225 | +2073.6% |
| Taxes, remuneration and social security | 45 | €9,644 | €9,684 | +€40 | +0.4% |
| Taxes | 450/3 | €9,644 | €9,684 | +€40 | +0.4% |
| Other amounts payable | 47/48 | €119,327 | €113,775 | -€5,552 | -4.7% |
| Remuneration, social security and pensions | 62 | €1,592 | €0 | -€1,592 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,868 | €35,575 | +€19,707 | +124.2% |
| Other operating charges | 640/8 | €777 | €1,305 | +€528 | +68.0% |
| Gross operating margin | 9900 | €49,517 | €58,861 | +€9,344 | +18.9% |
| Operating profit (loss) | 9901 | €31,280 | €21,981 | -€9,299 | -29.7% |
| Financial income | 75/76B | €1,053 | €3,581 | +€2,528 | +240.2% |
| Recurring financial income | 75 | €1,053 | €3,581 | +€2,528 | +240.2% |
| Financial charges | 65/66B | €11,205 | €15,207 | +€4,002 | +35.7% |
| Recurring financial charges | 65 | €11,205 | €15,207 | +€4,002 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €21,128 | €10,355 | -€10,773 | -51.0% |
| Income taxes | 67/77 | €5,892 | €2,584 | -€3,309 | -56.2% |
| Profit (loss) for the period | 9904 | €15,236 | €7,772 | -€7,464 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,236 | €7,772 | -€7,464 | -49.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.