Waterkeyn: 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.
Waterkeyn
Largest movements
- Tangible fixed assets -€21,294
down €21,294 (-8.8%), from €241,085 to €219,791
- Cash +€17,560
up €17,560 (+86.2%), from €20,363 to €37,923
mainly Depreciation (+€21,294) and Net result for the year (+€19,641)
- Deferred charges and accrued income +€6,667
up €6,667 (+66.7%), from €10,000 to €16,667
- Receivables within one year -€4,962
down €4,962 (-3.0%), from €164,358 to €159,396
- Debts after one year -€10,047
down €10,047 (-3.5%), from €285,732 to €275,685
- Other debts +€7,645
up €7,645 (+63.7%), from €11,995 to €19,640
- Accrued charges and deferred income -€4,778
down €4,778 (-93.6%), from €5,107 to €329
- Advances received +€4,701
up €4,701, from €0 to €4,701
- Gross operating margin +€9,476
up €9,476 (+20.6%), from €45,952 to €55,428
- Financial charges -€3,222
down €3,222 (-21.6%), from €14,892 to €11,670
- Taxes +€2,844
up €2,844 (+71.1%), from €3,999 to €6,843
- Financial income -€2,117
down €2,117 (-23.1%), from €9,150 to €7,033
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 | €435,806 | €433,777 | -€2,029 | -0.5% |
| Fixed assets | 21/28 | €241,085 | €219,791 | -€21,294 | -8.8% |
| Tangible fixed assets | 22/27 | €241,085 | €219,791 | -€21,294 | -8.8% |
| Land and buildings | 22 | €241,085 | €219,791 | -€21,294 | -8.8% |
| Current assets | 29/58 | €194,721 | €213,986 | +€19,265 | +9.9% |
| Amounts receivable within one year | 40/41 | €164,358 | €159,396 | -€4,962 | -3.0% |
| Other amounts receivable | 41 | €164,358 | €159,396 | -€4,962 | -3.0% |
| Cash at bank and in hand | 54/58 | €20,363 | €37,923 | +€17,560 | +86.2% |
| Deferred charges and accrued income | 490/1 | €10,000 | €16,667 | +€6,667 | +66.7% |
| Total equity and liabilities | 10/49 | €435,806 | €433,777 | -€2,029 | -0.5% |
| Equity | 10/15 | €109,307 | €109,308 | +€1 | 0.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,657 | €41,658 | +€1 | 0.0% |
| Amounts payable | 17/49 | €326,499 | €324,469 | -€2,030 | -0.6% |
| Amounts payable after more than one year | 17 | €285,732 | €275,685 | -€10,047 | -3.5% |
| Financial debts | 170/4 | €285,732 | €275,685 | -€10,047 | -3.5% |
| Amounts payable within one year | 42/48 | €35,659 | €48,454 | +€12,795 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | €10,047 | €10,047 | +€0 | 0.0% |
| Trade debts | 44 | €13,617 | €9,723 | -€3,894 | -28.6% |
| Suppliers | 440/4 | €13,617 | €9,723 | -€3,894 | -28.6% |
| Advances received on contracts in progress | 46 | €0 | €4,701 | +€4,701 | |
| Taxes, remuneration and social security | 45 | €0 | €4,343 | +€4,343 | |
| Taxes | 450/3 | €0 | €4,343 | +€4,343 | |
| Other amounts payable | 47/48 | €11,995 | €19,640 | +€7,645 | +63.7% |
| Accrued charges and deferred income | 492/3 | €5,107 | €329 | -€4,778 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,294 | €21,294 | = | 0.0% |
| Other operating charges | 640/8 | €2,922 | €3,014 | +€92 | +3.1% |
| Gross operating margin | 9900 | €45,952 | €55,428 | +€9,476 | +20.6% |
| Operating profit (loss) | 9901 | €21,736 | €31,120 | +€9,385 | +43.2% |
| Financial income | 75/76B | €9,150 | €7,033 | -€2,117 | -23.1% |
| Recurring financial income | 75 | €9,150 | €7,033 | -€2,117 | -23.1% |
| Financial charges | 65/66B | €14,892 | €11,670 | -€3,222 | -21.6% |
| Recurring financial charges | 65 | €14,892 | €11,670 | -€3,222 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €15,994 | €26,484 | +€10,490 | +65.6% |
| Income taxes | 67/77 | €3,999 | €6,843 | +€2,844 | +71.1% |
| Profit (loss) for the period | 9904 | €11,996 | €19,641 | +€7,645 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,996 | €19,641 | +€7,645 | +63.7% |
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 28 October 2026 via checked.be.