WATERLOO HOTEL: 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.
What changed
WATERLOO HOTEL
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€209,929
2024 · -€101,273-€108,655
Equity
€8.3m
2024 · €8.5m-€226,565
Cash
€184,584
2024 · €309,506-€124,922
Balance sheet total
€15.3m
2024 · €15.8m-€513,721
Largest movements
Assets
- Tangible fixed assets -€428,860
down €428,860 (-3.8%), from €11.2m to €10.8m
of which Furniture and vehicles: -€229,277
Equity and liabilities
- Debts after one year -€217,487
down €217,487 (-3.4%), from €6.4m to €6.2m
of which Financial debts: -€144,691
- Profit (loss) carried forward -€179,211
down €179,211 (-49.6%), from -€361,323 to -€540,534
Income statement
- Financial charges -€96,166
down €96,166 (-13.4%), from €716,141 to €619,975
- Services and other goods +€72,138
up €72,138 (+6.0%), from €1.2m to €1.3m
- Staff costs +€57,395
up €57,395 (+11.0%), from €523,778 to €581,173
- Turnover -€42,525
down €42,525 (-1.4%), from €3.0m to €2.9m
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.
Result 2024
-€101,273
Turnover
-€42,525
Other operating income
-€9,086
Goods and materials
-€8,577
Services and other goods
-€72,138
Staff costs
-€57,395
Depreciation
-€2,191
Write-downs
-€1,560
Other operating charges
-€4,889
Other operating items
+€688
Financial income
-€7,195
Financial charges
+€96,166
Taxes
+€46
Result 2025
-€209,929
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€286,533
Investment
-€142,148
Financing
-€269,306
Cash 2024
€309,506
From operations (derived)
+€286,533
Net result for the year
-€209,929
Depreciation
+€499,980
Stocks and contracts
+€2,810
Receivables within one year
+€28,106
Deferred charges and accrued income
+€52
Provisions
-€10,239
Trade debts
-€40,771
Tax, wage and social debts
-€20,491
Advances received
+€39,078
Accrued charges and deferred income
-€2,063
Investment (derived)
-€142,148
Investment in fixed assets (net)
-€142,148
Financing
-€269,306
Debts after one year
-€217,487
Current portion of long-term debt
-€12,592
Short-term financial debts
-€22,591
Contributions, distributions and other
-€16,637
Cash 2025
€184,584
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,809,078 | €15,295,357 | -€513,721 | -3.2% |
| Formation expenses | 20 | €167,864 | €130,760 | -€37,103 | -22.1% |
| Fixed assets | 21/28 | €15,270,332 | €14,949,603 | -€320,729 | -2.1% |
| Intangible fixed assets | 21 | €5,295 | €2,979 | -€2,315 | -43.7% |
| Tangible fixed assets | 22/27 | €11,231,114 | €10,802,254 | -€428,860 | -3.8% |
| Land and buildings | 22 | €10,293,310 | €10,105,374 | -€187,936 | -1.8% |
| Plant, machinery and equipment | 23 | €31,294 | €20,298 | -€10,996 | -35.1% |
| Furniture and vehicles | 24 | €901,508 | €672,231 | -€229,277 | -25.4% |
| Other tangible fixed assets | 26 | €5,002 | €4,352 | -€651 | -13.0% |
| Financial fixed assets | 28 | €4,033,923 | €4,144,370 | +€110,447 | +2.7% |
| Affiliated companies | 280/1 | €4,020,126 | €4,130,573 | +€110,447 | +2.7% |
| Amounts receivable | 281 | €4,020,126 | €4,130,573 | +€110,447 | +2.7% |
| Other financial fixed assets | 284/8 | €13,797 | €13,797 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €13,797 | €13,797 | = | 0.0% |
| Current assets | 29/58 | €370,882 | €214,994 | -€155,889 | -42.0% |
| Stocks and contracts in progress | 3 | €9,844 | €7,034 | -€2,810 | -28.5% |
| Stocks | 30/36 | €9,844 | €7,034 | -€2,810 | -28.5% |
| Raw materials and consumables | 30/31 | €9,560 | €7,034 | -€2,526 | -26.4% |
| Goods purchased for resale | 34 | €283 | - | -€283 | |
| Amounts receivable within one year | 40/41 | €46,430 | €18,324 | -€28,106 | -60.5% |
| Trade receivables | 40 | €12,270 | €18,324 | +€6,054 | +49.3% |
| Other amounts receivable | 41 | €34,160 | €0 | -€34,160 | -100% |
| Cash at bank and in hand | 54/58 | €309,506 | €184,584 | -€124,922 | -40.4% |
| Deferred charges and accrued income | 490/1 | €5,103 | €5,052 | -€52 | -1.0% |
| Total equity and liabilities | 10/49 | €15,809,078 | €15,295,357 | -€513,721 | -3.2% |
| Equity | 10/15 | €8,534,710 | €8,308,145 | -€226,565 | -2.7% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Revaluation surpluses | 12 | €7,725,500 | €7,725,500 | = | 0.0% |
| Reserves | 13 | €519,632 | €488,915 | -€30,718 | -5.9% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €459,632 | €428,915 | -€30,718 | -6.7% |
| Profit (loss) carried forward | 14 | -€361,323 | -€540,534 | -€179,211 | -49.6% |
| Investment grants | 15 | €50,901 | €34,264 | -€16,637 | -32.7% |
| Provisions and deferred taxes | 16 | €144,202 | €133,963 | -€10,239 | -7.1% |
| Deferred taxes | 168 | €144,202 | €133,963 | -€10,239 | -7.1% |
| Amounts payable | 17/49 | €7,130,166 | €6,853,250 | -€276,916 | -3.9% |
| Amounts payable after more than one year | 17 | €6,384,610 | €6,167,123 | -€217,487 | -3.4% |
| Financial debts | 170/4 | €6,233,028 | €6,088,336 | -€144,691 | -2.3% |
| Credit institutions | 173 | €0 | - | = | |
| Other loans | 174 | €6,233,028 | €6,088,336 | -€144,691 | -2.3% |
| Trade debts | 175 | €151,583 | €78,787 | -€72,796 | -48.0% |
| Suppliers | 1750 | €151,583 | €78,787 | -€72,796 | -48.0% |
| Amounts payable within one year | 42/48 | €743,388 | €686,021 | -€57,366 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €58,375 | €45,783 | -€12,592 | -21.6% |
| Financial debts | 43 | €23,272 | €682 | -€22,591 | -97.1% |
| Credit institutions | 430/8 | €23,272 | €682 | -€22,591 | -97.1% |
| Trade debts | 44 | €492,627 | €451,856 | -€40,771 | -8.3% |
| Suppliers | 440/4 | €492,627 | €451,856 | -€40,771 | -8.3% |
| Advances received on contracts in progress | 46 | €19,803 | €58,881 | +€39,078 | +197% |
| Taxes, remuneration and social security | 45 | €149,310 | €128,819 | -€20,491 | -13.7% |
| Taxes | 450/3 | €3,119 | €8,660 | +€5,541 | +178% |
| Remuneration and social security | 454/9 | €146,192 | €120,159 | -€26,032 | -17.8% |
| Accrued charges and deferred income | 492/3 | €2,168 | €106 | -€2,063 | -95.1% |
| Operating income | 70/76A | €3,005,494 | €2,953,883 | -€51,610 | -1.7% |
| Turnover | 70 | €2,977,890 | €2,935,366 | -€42,525 | -1.4% |
| Other operating income | 74 | €27,603 | €18,518 | -€9,086 | -32.9% |
| Operating charges | 60/66A | €2,449,834 | €2,595,896 | +€146,062 | +6.0% |
| Goods for resale, raw materials and consumables | 60 | €142,771 | €151,348 | +€8,577 | +6.0% |
| Purchases | 600/8 | €144,674 | €148,538 | +€3,864 | +2.7% |
| Change in stocks: decrease (increase) | 609 | -€1,903 | €2,810 | +€4,713 | |
| Services and other goods | 61 | €1,209,716 | €1,281,853 | +€72,138 | +6.0% |
| Remuneration, social security and pensions | 62 | €523,778 | €581,173 | +€57,395 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €497,789 | €499,980 | +€2,191 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,560 | +€1,560 | |
| Other operating charges | 640/8 | €71,956 | €76,845 | +€4,889 | +6.8% |
| Non-recurring operating charges | 66A | €3,824 | €3,137 | -€688 | -18.0% |
| Operating profit (loss) | 9901 | €555,660 | €357,988 | -€197,672 | -35.6% |
| Financial income | 75/76B | €49,191 | €41,996 | -€7,195 | -14.6% |
| Recurring financial income | 75 | €49,191 | €41,996 | -€7,195 | -14.6% |
| Income from financial fixed assets | 750 | €32,131 | €25,358 | -€6,772 | -21.1% |
| Other financial income | 752/9 | €17,060 | €16,637 | -€423 | -2.5% |
| Financial charges | 65/66B | €716,141 | €619,975 | -€96,166 | -13.4% |
| Recurring financial charges | 65 | €716,141 | €619,975 | -€96,166 | -13.4% |
| Debt charges | 650 | €714,654 | €619,208 | -€95,447 | -13.4% |
| Other financial charges | 652/9 | €1,487 | €767 | -€720 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | -€111,291 | -€219,992 | -€108,701 | -97.7% |
| Transfer from deferred taxes | 780 | €10,239 | €10,239 | +€0 | 0.0% |
| Income taxes | 67/77 | €222 | €176 | -€46 | -20.7% |
| Taxes | 670/3 | €222 | €176 | -€46 | -20.7% |
| Profit (loss) for the period | 9904 | -€101,273 | -€209,929 | -€108,655 | -107% |
| Transfer from tax-exempt reserves | 789 | €30,718 | €30,718 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,556 | -€179,211 | -€108,655 | -154% |
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 20 October 2026 via checked.be.