WATERPAS: what changed
Two fiscal 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.
WATERPAS
Largest movements
- Stocks and contracts +€282,914
up €282,914 (+53.8%), from €525,605 to €808,519
- Receivables within one year -€203,337
down €203,337 (-50.1%), from €405,739 to €202,402
of which Other amounts receivable: -€202,598
- Receivables after one year -€55,000
down €55,000 (-100.0%), from €55,000 to €0
- Other debts +€308,621
up €308,621 (+429.8%), from €71,802 to €380,424
- Debts after one year -€265,628
down €265,628 (-51.3%), from €518,203 to €252,575
- Profit (loss) carried forward -€34,345
down €34,345 (-30.9%), from -€111,222 to -€145,567
- Financial income -€24,569
down €24,569 (-100.0%), from €24,569 to €0
- Gross operating margin +€14,400
up €14,400 (+477.7%), from €3,014 to €17,414
- Financial charges -€14,259
down €14,259 (-25.1%), from €56,698 to €42,439
- Other operating charges -€2,098
down €2,098 (-18.9%), from €11,116 to €9,018
- Depreciation -€1,001
down €1,001 (-76.9%), from €1,302 to €301
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 | €994,435 | €1,012,517 | +€18,082 | +1.8% |
| Fixed assets | 21/28 | €301 | €0 | -€301 | -100.0% |
| Tangible fixed assets | 22/27 | €301 | €0 | -€301 | -100.0% |
| Furniture and vehicles | 24 | €301 | €0 | -€301 | -100.0% |
| Current assets | 29/58 | €994,134 | €1,012,517 | +€18,383 | +1.8% |
| Amounts receivable after more than one year | 29 | €55,000 | €0 | -€55,000 | -100.0% |
| Other amounts receivable | 291 | €55,000 | €0 | -€55,000 | -100.0% |
| Stocks and contracts in progress | 3 | €525,605 | €808,519 | +€282,914 | +53.8% |
| Stocks | 30/36 | €525,605 | €808,519 | +€282,914 | +53.8% |
| Amounts receivable within one year | 40/41 | €405,739 | €202,402 | -€203,337 | -50.1% |
| Trade receivables | 40 | €140,739 | €140,000 | -€739 | -0.5% |
| Other amounts receivable | 41 | €265,000 | €62,402 | -€202,598 | -76.5% |
| Cash at bank and in hand | 54/58 | €6,779 | €16 | -€6,763 | -99.8% |
| Deferred charges and accrued income | 490/1 | €1,011 | €1,581 | +€569 | +56.3% |
| Total equity and liabilities | 10/49 | €994,435 | €1,012,517 | +€18,082 | +1.8% |
| Equity | 10/15 | -€105,022 | -€139,367 | -€34,345 | -32.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,222 | -€145,567 | -€34,345 | -30.9% |
| Amounts payable | 17/49 | €1,099,457 | €1,151,884 | +€52,426 | +4.8% |
| Amounts payable after more than one year | 17 | €518,203 | €252,575 | -€265,628 | -51.3% |
| Financial debts | 170/4 | €518,203 | €252,575 | -€265,628 | -51.3% |
| Amounts payable within one year | 42/48 | €579,967 | €888,524 | +€308,557 | +53.2% |
| Financial debts | 43 | €507,601 | €507,750 | +€149 | 0.0% |
| Credit institutions | 430/8 | €507,601 | €507,750 | +€149 | 0.0% |
| Trade debts | 44 | €563 | €350 | -€213 | -37.8% |
| Suppliers | 440/4 | €563 | €350 | -€213 | -37.8% |
| Other amounts payable | 47/48 | €71,802 | €380,424 | +€308,621 | +429.8% |
| Accrued charges and deferred income | 492/3 | €1,288 | €10,785 | +€9,498 | +737.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,302 | €301 | -€1,001 | -76.9% |
| Other operating charges | 640/8 | €11,116 | €9,018 | -€2,098 | -18.9% |
| Gross operating margin | 9900 | €3,014 | €17,414 | +€14,400 | +477.7% |
| Operating profit (loss) | 9901 | -€9,404 | €8,094 | +€17,498 | |
| Financial income | 75/76B | €24,569 | €0 | -€24,569 | -100.0% |
| Recurring financial income | 75 | €24,569 | €0 | -€24,569 | -100.0% |
| Financial charges | 65/66B | €56,698 | €42,439 | -€14,259 | -25.1% |
| Recurring financial charges | 65 | €56,698 | €42,439 | -€14,259 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | -€41,533 | -€34,345 | +€7,189 | +17.3% |
| Profit (loss) for the period | 9904 | -€41,533 | -€34,345 | +€7,189 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,533 | -€34,345 | +€7,189 | +17.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.