WATERFRONT SHIPPING: 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.
WATERFRONT SHIPPING
Largest movements
- Receivables within one year +€157,403
up €157,403 (+21.5%), from €733,102 to €890,505
of which Other amounts receivable: +€127,115
- Current investments -€101,337
no longer reported in 2025 (was €101,337)
- Cash +€23,229
up €23,229 (+8.7%), from €266,325 to €289,555
mainly Net result for the year (+€131,755) and Current investments (+€101,337)
- Tangible fixed assets -€18,507
down €18,507 (-14.0%), from €132,450 to €113,942
of which Furniture and vehicles: -€11,513
- Other debts +€41,400
up €41,400 (+46.5%), from €89,000 to €130,400
- Trade debts +€21,564
up €21,564 (+21.4%), from €100,639 to €122,203
- Gross operating margin +€85,380
up €85,380 (+28.4%), from €300,436 to €385,816
- Taxes +€15,285
up €15,285 (+43.2%), from €35,390 to €50,674
- Staff costs +€10,670
up €10,670 (+5.4%), from €195,887 to €206,556
- Depreciation +€10,485
up €10,485 (+52.2%), from €20,082 to €30,567
- Financial income -€4,521
down €4,521 (-8.8%), from €51,519 to €46,998
of which Financial income: -€8,317
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 | €1,238,934 | €1,302,265 | +€63,332 | +5.1% |
| Fixed assets | 21/28 | €132,450 | €113,942 | -€18,507 | -14.0% |
| Tangible fixed assets | 22/27 | €132,450 | €113,942 | -€18,507 | -14.0% |
| Land and buildings | 22 | €62,276 | €55,532 | -€6,744 | -10.8% |
| Plant, machinery and equipment | 23 | €1,246 | €996 | -€250 | -20.1% |
| Furniture and vehicles | 24 | €68,928 | €57,414 | -€11,513 | -16.7% |
| Current assets | 29/58 | €1,106,484 | €1,188,323 | +€81,839 | +7.4% |
| Amounts receivable within one year | 40/41 | €733,102 | €890,505 | +€157,403 | +21.5% |
| Trade receivables | 40 | €247,199 | €277,487 | +€30,288 | +12.3% |
| Other amounts receivable | 41 | €485,903 | €613,018 | +€127,115 | +26.2% |
| Current investments | 50/53 | €101,337 | - | -€101,337 | |
| Cash at bank and in hand | 54/58 | €266,325 | €289,555 | +€23,229 | +8.7% |
| Deferred charges and accrued income | 490/1 | €5,720 | €8,264 | +€2,544 | +44.5% |
| Total equity and liabilities | 10/49 | €1,238,934 | €1,302,265 | +€63,332 | +5.1% |
| Equity | 10/15 | €1,010,852 | €1,012,607 | +€1,755 | +0.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €990,500 | €990,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €951,000 | €951,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €352 | €2,107 | +€1,755 | +499% |
| Amounts payable | 17/49 | €228,082 | €289,659 | +€61,577 | +27.0% |
| Amounts payable within one year | 42/48 | €223,138 | €284,301 | +€61,164 | +27.4% |
| Trade debts | 44 | €100,639 | €122,203 | +€21,564 | +21.4% |
| Suppliers | 440/4 | €100,639 | €122,203 | +€21,564 | +21.4% |
| Taxes, remuneration and social security | 45 | €33,499 | €31,699 | -€1,800 | -5.4% |
| Taxes | 450/3 | €295 | €607 | +€312 | +106% |
| Remuneration and social security | 454/9 | €33,204 | €31,092 | -€2,112 | -6.4% |
| Other amounts payable | 47/48 | €89,000 | €130,400 | +€41,400 | +46.5% |
| Accrued charges and deferred income | 492/3 | €4,944 | €5,357 | +€413 | +8.4% |
| Remuneration, social security and pensions | 62 | €195,887 | €206,556 | +€10,670 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,082 | €30,567 | +€10,485 | +52.2% |
| Other operating charges | 640/8 | €4,534 | €5,294 | +€760 | +16.8% |
| Gross operating margin | 9900 | €300,436 | €385,816 | +€85,380 | +28.4% |
| Operating profit (loss) | 9901 | €79,933 | €143,399 | +€63,466 | +79.4% |
| Financial income | 75/76B | €51,519 | €46,998 | -€4,521 | -8.8% |
| Recurring financial income | 75 | €51,519 | €43,202 | -€8,317 | -16.1% |
| Non-recurring financial income | 76B | - | €3,796 | +€3,796 | |
| Financial charges | 65/66B | €7,030 | €7,968 | +€938 | +13.3% |
| Recurring financial charges | 65 | €7,030 | €7,968 | +€938 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €124,422 | €182,429 | +€58,007 | +46.6% |
| Income taxes | 67/77 | €35,390 | €50,674 | +€15,285 | +43.2% |
| Profit (loss) for the period | 9904 | €89,032 | €131,755 | +€42,722 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €89,032 | €131,755 | +€42,722 | +48.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.