WATERL'EAU: 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.
WATERL'EAU
Largest movements
- Receivables within one year +€87,798
up €87,798 (+2500.1%), from €3,512 to €91,310
of which Trade receivables: +€87,323
- Stocks and contracts -€7,086
down €7,086 (-40.5%), from €17,482 to €10,397
- Cash +€2,405
up €2,405 (+6.7%), from €35,744 to €38,149
mainly Advances received (+€44,694) and Net result for the year (+€29,898)
- Advances received +€44,694
up €44,694 (+420.3%), from €10,634 to €55,328
- Profit (loss) carried forward +€29,898
up €29,898 (+53.7%), from -€55,627 to -€25,729
- Tax, wage and social debts +€6,510
up €6,510 (+45.1%), from €14,434 to €20,944
- Other debts +€1,490
up €1,490 (+21.3%), from €7,007 to €8,497
- Taxes +€4,300
up €4,300 (+1225.2%), from €351 to €4,651
- Gross operating margin +€3,608
up €3,608 (+9.1%), from €39,448 to €43,056
- Write-downs +€3,487
up €3,487, from -€758 to €2,729
- Other operating charges -€714
down €714 (-27.2%), from €2,622 to €1,908
- Financial charges -€439
down €439 (-11.0%), from €3,976 to €3,537
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 | €61,976 | €144,505 | +€82,529 | +133.2% |
| Fixed assets | 21/28 | €3,769 | €3,230 | -€538 | -14.3% |
| Tangible fixed assets | 22/27 | €3,769 | €3,230 | -€538 | -14.3% |
| Furniture and vehicles | 24 | €538 | €0 | -€538 | -100.0% |
| Other tangible fixed assets | 26 | €3,230 | €3,230 | = | 0.0% |
| Current assets | 29/58 | €58,208 | €141,275 | +€83,067 | +142.7% |
| Stocks and contracts in progress | 3 | €17,482 | €10,397 | -€7,086 | -40.5% |
| Stocks | 30/36 | €17,482 | €10,397 | -€7,086 | -40.5% |
| Amounts receivable within one year | 40/41 | €3,512 | €91,310 | +€87,798 | +2500.1% |
| Trade receivables | 40 | €1,665 | €88,988 | +€87,323 | +5243.4% |
| Other amounts receivable | 41 | €1,846 | €2,321 | +€475 | +25.7% |
| Cash at bank and in hand | 54/58 | €35,744 | €38,149 | +€2,405 | +6.7% |
| Deferred charges and accrued income | 490/1 | €1,469 | €1,419 | -€50 | -3.4% |
| Total equity and liabilities | 10/49 | €61,976 | €144,505 | +€82,529 | +133.2% |
| Equity | 10/15 | €3,092 | €32,990 | +€29,898 | +967.0% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €39,969 | €39,969 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,476 | €20,476 | = | 0.0% |
| Distributable reserves | 133 | €19,493 | €19,493 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,627 | -€25,729 | +€29,898 | +53.7% |
| Amounts payable | 17/49 | €58,885 | €111,516 | +€52,631 | +89.4% |
| Amounts payable within one year | 42/48 | €58,822 | €111,417 | +€52,595 | +89.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €26,747 | €26,648 | -€99 | -0.4% |
| Suppliers | 440/4 | €26,747 | €26,648 | -€99 | -0.4% |
| Advances received on contracts in progress | 46 | €10,634 | €55,328 | +€44,694 | +420.3% |
| Taxes, remuneration and social security | 45 | €14,434 | €20,944 | +€6,510 | +45.1% |
| Taxes | 450/3 | €14,434 | €20,944 | +€6,510 | +45.1% |
| Other amounts payable | 47/48 | €7,007 | €8,497 | +€1,490 | +21.3% |
| Accrued charges and deferred income | 492/3 | €63 | €99 | +€36 | +57.4% |
| Non-recurring operating income | 76A | €21,600 | €0 | -€21,600 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €905 | €538 | -€366 | -40.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€758 | €2,729 | +€3,487 | |
| Other operating charges | 640/8 | €2,622 | €1,908 | -€714 | -27.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €39,448 | €43,056 | +€3,608 | +9.1% |
| Operating profit (loss) | 9901 | €36,679 | €37,880 | +€1,201 | +3.3% |
| Financial income | 75/76B | €123 | €206 | +€83 | +67.1% |
| Recurring financial income | 75 | €123 | €206 | +€83 | +67.1% |
| Financial charges | 65/66B | €3,976 | €3,537 | -€439 | -11.0% |
| Recurring financial charges | 65 | €3,976 | €3,537 | -€439 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €32,826 | €34,549 | +€1,723 | +5.2% |
| Income taxes | 67/77 | €351 | €4,651 | +€4,300 | +1225.2% |
| Profit (loss) for the period | 9904 | €32,475 | €29,898 | -€2,577 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,475 | €29,898 | -€2,577 | -7.9% |
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 10 October 2026 via checked.be.