WATEREC: 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.
WATEREC
Largest movements
- Cash +€18,499
up €18,499 (+30.6%), from €60,425 to €78,923
mainly Net result for the year (+€12,274) and Receivables within one year (+€7,975)
- Receivables within one year -€7,975
down €7,975 (-38.4%), from €20,762 to €12,787
of which Trade receivables: -€7,713
- Tangible fixed assets -€2,787
down €2,787 (-100.0%), from €2,787 to €0
- Profit (loss) carried forward +€12,274
up €12,274 (+61.4%), from -€19,977 to -€7,702
- Other debts -€6,126
down €6,126 (-19.4%), from €31,640 to €25,514
- Accrued charges and deferred income +€2,734
new in 2025: €2,734
- Trade debts -€1,336
down €1,336 (-69.2%), from €1,932 to €596
- Gross operating margin +€28,835
up €28,835, from -€9,545 to €19,290
- Financial charges +€2,772
up €2,772 (+7106.9%), from €39 to €2,811
- Other operating charges +€490
up €490 (+73.5%), from €667 to €1,157
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 | €84,600 | €92,355 | +€7,755 | +9.2% |
| Fixed assets | 21/28 | €2,787 | €0 | -€2,787 | -100.0% |
| Tangible fixed assets | 22/27 | €2,787 | €0 | -€2,787 | -100.0% |
| Furniture and vehicles | 24 | €2,787 | €0 | -€2,787 | -100.0% |
| Current assets | 29/58 | €81,813 | €92,355 | +€10,542 | +12.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €20,762 | €12,787 | -€7,975 | -38.4% |
| Trade receivables | 40 | €18,962 | €11,248 | -€7,713 | -40.7% |
| Other amounts receivable | 41 | €1,800 | €1,539 | -€261 | -14.5% |
| Cash at bank and in hand | 54/58 | €60,425 | €78,923 | +€18,499 | +30.6% |
| Deferred charges and accrued income | 490/1 | €627 | €645 | +€18 | +2.9% |
| Total equity and liabilities | 10/49 | €84,600 | €92,355 | +€7,755 | +9.2% |
| Equity | 10/15 | €49,023 | €61,298 | +€12,274 | +25.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €19,000 | €19,000 | = | 0.0% |
| Distributable reserves | 133 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,977 | -€7,702 | +€12,274 | +61.4% |
| Amounts payable | 17/49 | €35,577 | €31,058 | -€4,519 | -12.7% |
| Amounts payable within one year | 42/48 | €35,577 | €28,324 | -€7,253 | -20.4% |
| Trade debts | 44 | €1,932 | €596 | -€1,336 | -69.2% |
| Suppliers | 440/4 | €1,932 | €596 | -€1,336 | -69.2% |
| Taxes, remuneration and social security | 45 | €2,004 | €2,214 | +€209 | +10.4% |
| Taxes | 450/3 | €2,004 | €2,214 | +€209 | +10.4% |
| Other amounts payable | 47/48 | €31,640 | €25,514 | -€6,126 | -19.4% |
| Accrued charges and deferred income | 492/3 | - | €2,734 | +€2,734 | |
| Non-recurring operating income | 76A | €50 | €0 | -€50 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,800 | €2,787 | -€13 | -0.5% |
| Other operating charges | 640/8 | €667 | €1,157 | +€490 | +73.5% |
| Gross operating margin | 9900 | -€9,545 | €19,290 | +€28,835 | |
| Operating profit (loss) | 9901 | -€13,012 | €15,346 | +€28,358 | |
| Financial income | 75/76B | €14 | €0 | -€14 | -100.0% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100.0% |
| Financial charges | 65/66B | €39 | €2,811 | +€2,772 | +7106.9% |
| Recurring financial charges | 65 | €39 | €2,811 | +€2,772 | +7106.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,036 | €12,536 | +€25,572 | |
| Income taxes | 67/77 | €204 | €261 | +€57 | +28.0% |
| Profit (loss) for the period | 9904 | -€13,240 | €12,274 | +€25,515 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,240 | €12,274 | +€25,515 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.