WATERHOF: 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.
WATERHOF
Largest movements
- Tangible fixed assets +€13,501
up €13,501 (+12.2%), from €110,989 to €124,490
of which Furniture and vehicles: +€15,824
- Receivables within one year +€12,835
up €12,835 (+122%), from €10,510 to €23,345
- Cash +€5,525
up €5,525 (+9.0%), from €61,520 to €67,045
mainly Net result for the year (+€87,417) and Depreciation (+€19,499)
- Deferred charges and accrued income +€2,689
up €2,689 (+130%), from €2,063 to €4,752
- Profit (loss) carried forward +€87,417
up €87,417 (+10.8%), from -€806,435 to -€719,019
- Debts after one year -€50,000
down €50,000 (-6.3%), from €800,000 to €750,000
- Other debts -€5,747
down €5,747 (-10.6%), from €54,272 to €48,525
- Trade debts +€4,323
up €4,323 (+847%), from €510 to €4,833
- Depreciation +€16,225
up €16,225 (+495%), from €3,275 to €19,499
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 | €185,082 | €219,632 | +€34,550 | +18.7% |
| Fixed assets | 21/28 | €110,989 | €124,490 | +€13,501 | +12.2% |
| Tangible fixed assets | 22/27 | €110,989 | €124,490 | +€13,501 | +12.2% |
| Land and buildings | 22 | €69,497 | €69,497 | = | 0.0% |
| Plant, machinery and equipment | 23 | €10,660 | €8,337 | -€2,324 | -21.8% |
| Furniture and vehicles | 24 | €30,832 | €46,656 | +€15,824 | +51.3% |
| Current assets | 29/58 | €74,092 | €95,142 | +€21,050 | +28.4% |
| Amounts receivable within one year | 40/41 | €10,510 | €23,345 | +€12,835 | +122% |
| Trade receivables | 40 | €10,510 | €23,345 | +€12,835 | +122% |
| Cash at bank and in hand | 54/58 | €61,520 | €67,045 | +€5,525 | +9.0% |
| Deferred charges and accrued income | 490/1 | €2,063 | €4,752 | +€2,689 | +130% |
| Total equity and liabilities | 10/49 | €185,082 | €219,632 | +€34,550 | +18.7% |
| Equity | 10/15 | -€682,489 | -€595,072 | +€87,417 | +12.8% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€806,435 | -€719,019 | +€87,417 | +10.8% |
| Amounts payable | 17/49 | €867,570 | €814,704 | -€52,866 | -6.1% |
| Amounts payable after more than one year | 17 | €800,000 | €750,000 | -€50,000 | -6.3% |
| Financial debts | 170/4 | €800,000 | €750,000 | -€50,000 | -6.3% |
| Amounts payable within one year | 42/48 | €55,745 | €53,704 | -€2,041 | -3.7% |
| Trade debts | 44 | €510 | €4,833 | +€4,323 | +847% |
| Suppliers | 440/4 | €510 | €4,833 | +€4,323 | +847% |
| Taxes, remuneration and social security | 45 | €963 | €346 | -€617 | -64.1% |
| Taxes | 450/3 | €963 | €346 | -€617 | -64.1% |
| Other amounts payable | 47/48 | €54,272 | €48,525 | -€5,747 | -10.6% |
| Accrued charges and deferred income | 492/3 | €11,825 | €11,000 | -€825 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,275 | €19,499 | +€16,225 | +495% |
| Other operating charges | 640/8 | €22,251 | €22,137 | -€114 | -0.5% |
| Gross operating margin | 9900 | €130,156 | €130,113 | -€43 | 0.0% |
| Operating profit (loss) | 9901 | €104,630 | €88,477 | -€16,153 | -15.4% |
| Financial income | 75/76B | €7 | €1 | -€6 | -80.2% |
| Recurring financial income | 75 | €7 | €1 | -€6 | -80.2% |
| Financial charges | 65/66B | €160 | €717 | +€557 | +348% |
| Recurring financial charges | 65 | €160 | €717 | +€557 | +348% |
| Profit (loss) for the period before taxes | 9903 | €104,478 | €87,762 | -€16,716 | -16.0% |
| Income taxes | 67/77 | €34 | €345 | +€311 | +920% |
| Profit (loss) for the period | 9904 | €104,444 | €87,417 | -€17,027 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €104,444 | €87,417 | -€17,027 | -16.3% |
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 27 October 2026 via checked.be.