WATERS: 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.
What changed
WATERS
NACE 26.510, Manufacture of computer, electronic and optical products
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2023 · €3.2m-€1.1m
Equity
€8.6m
2023 · €6.5m+€2.1m
Cash
-
not filed
Balance sheet total
€28.2m
2023 · €20.9m+€7.4m
Largest movements
Assets
- Receivables within one year +€7.6m
up €7.6m (+44.5%), from €17.2m to €24.8m
of which Other amounts receivable: +€7.4m
- Tangible fixed assets -€563,494
down €563,494 (-37.1%), from €1.5m to €953,656
of which Other tangible fixed assets: -€532,902
Equity and liabilities
- Trade debts +€3.5m
up €3.5m (+73.0%), from €4.8m to €8.3m
- Profit (loss) carried forward +€2.1m
up €2.1m (+32.0%), from €6.4m to €8.5m
- Accrued charges and deferred income +€1.3m
up €1.3m (+21.1%), from €6.0m to €7.3m
- Tax, wage and social debts +€518,720
up €518,720 (+14.6%), from €3.5m to €4.1m
of which Taxes: +€369,313
Income statement
- Turnover -€3.6m
down €3.6m (-6.7%), from €53.4m to €49.8m
- Other operating income -€2.2m
down €2.2m (-37.7%), from €5.9m to €3.7m
- Staff costs -€1.8m
down €1.8m (-15.3%), from €11.6m to €9.9m
- Services and other goods -€1.4m
down €1.4m (-19.5%), from €7.4m to €5.9m
- Taxes -€732,909
down €732,909 (-53.6%), from €1.4m to €634,923
of which Taxes: -€647,350
From the 2023 result to the 2024 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 2023
€3.2m
Turnover
-€3.6m
Other operating income
-€2.2m
Goods and materials
+€479,509
Services and other goods
+€1.4m
Staff costs
+€1.8m
Depreciation
+€414,654
Write-downs
-€250,019
Other operating charges
+€46,045
Other operating items
-€17,454
Financial income
+€32,636
Financial charges
-€2,623
Taxes
+€732,909
Result 2024
€2.1m
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,859,119 | €28,213,723 | +€7.4m | +35.3% |
| Fixed assets | 21/28 | €1,947,155 | €1,545,221 | -€401,934 | -20.6% |
| Tangible fixed assets | 22/27 | €1,517,150 | €953,656 | -€563,494 | -37.1% |
| Plant, machinery and equipment | 23 | €123,296 | €124,461 | +€1,165 | +0.9% |
| Furniture and vehicles | 24 | €161,373 | €129,616 | -€31,756 | -19.7% |
| Other tangible fixed assets | 26 | €1,232,481 | €699,579 | -€532,902 | -43.2% |
| Financial fixed assets | 28 | €430,005 | €591,565 | +€161,560 | +37.6% |
| Other financial fixed assets | 284/8 | €430,005 | €591,565 | +€161,560 | +37.6% |
| Amounts receivable and cash guarantees | 285/8 | €430,005 | €591,565 | +€161,560 | +37.6% |
| Current assets | 29/58 | €18,911,964 | €26,668,501 | +€7.8m | +41.0% |
| Stocks and contracts in progress | 3 | €1,666,604 | €1,808,703 | +€142,099 | +8.5% |
| Stocks | 30/36 | €1,666,604 | €1,808,703 | +€142,099 | +8.5% |
| Goods purchased for resale | 34 | €1,666,604 | €1,808,703 | +€142,099 | +8.5% |
| Amounts receivable within one year | 40/41 | €17,163,882 | €24,804,917 | +€7.6m | +44.5% |
| Trade receivables | 40 | €16,273,334 | €16,510,808 | +€237,473 | +1.5% |
| Other amounts receivable | 41 | €890,548 | €8,294,110 | +€7.4m | +831.3% |
| Deferred charges and accrued income | 490/1 | €81,478 | €54,882 | -€26,596 | -32.6% |
| Total equity and liabilities | 10/49 | €20,859,119 | €28,213,723 | +€7.4m | +35.3% |
| Equity | 10/15 | €6,518,105 | €8,583,941 | +€2.1m | +31.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,449,935 | €8,515,771 | +€2.1m | +32.0% |
| Provisions and deferred taxes | 16 | €2,915 | €2,915 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €2,915 | €2,915 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,915 | €2,915 | = | 0.0% |
| Amounts payable | 17/49 | €14,338,099 | €19,626,867 | +€5.3m | +36.9% |
| Amounts payable within one year | 42/48 | €8,349,391 | €12,375,085 | +€4.0m | +48.2% |
| Trade debts | 44 | €4,801,937 | €8,308,910 | +€3.5m | +73.0% |
| Suppliers | 440/4 | €4,801,937 | €8,308,910 | +€3.5m | +73.0% |
| Taxes, remuneration and social security | 45 | €3,547,454 | €4,066,174 | +€518,720 | +14.6% |
| Taxes | 450/3 | €1,731,764 | €2,101,077 | +€369,313 | +21.3% |
| Remuneration and social security | 454/9 | €1,815,690 | €1,965,097 | +€149,407 | +8.2% |
| Accrued charges and deferred income | 492/3 | €5,988,708 | €7,251,782 | +€1.3m | +21.1% |
| Operating income | 70/76A | €59,286,254 | €53,569,369 | -€5.7m | -9.6% |
| Turnover | 70 | €53,390,001 | €49,821,488 | -€3.6m | -6.7% |
| Other operating income | 74 | €5,896,253 | €3,675,464 | -€2.2m | -37.7% |
| Non-recurring operating income | 76A | - | €72,417 | +€72,417 | |
| Operating charges | 60/66A | €54,713,262 | €50,894,263 | -€3.8m | -7.0% |
| Goods for resale, raw materials and consumables | 60 | €34,934,190 | €34,454,681 | -€479,509 | -1.4% |
| Purchases | 600/8 | €33,974,024 | €34,706,839 | +€732,815 | +2.2% |
| Change in stocks: decrease (increase) | 609 | €960,166 | -€252,157 | -€1.2m | |
| Services and other goods | 61 | €7,387,759 | €5,944,632 | -€1.4m | -19.5% |
| Remuneration, social security and pensions | 62 | €11,627,668 | €9,852,115 | -€1.8m | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800,445 | €385,790 | -€414,654 | -51.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€117,384 | €132,635 | +€250,019 | |
| Other operating charges | 640/8 | €74,024 | €27,980 | -€46,045 | -62.2% |
| Non-recurring operating charges | 66A | €6,560 | €96,430 | +€89,870 | +1370.0% |
| Operating profit (loss) | 9901 | €4,572,992 | €2,675,106 | -€1.9m | -41.5% |
| Financial income | 75/76B | €130,894 | €163,530 | +€32,636 | +24.9% |
| Recurring financial income | 75 | €121,708 | €131,650 | +€9,942 | +8.2% |
| Income from current assets | 751 | €56,773 | €103,244 | +€46,471 | +81.9% |
| Other financial income | 752/9 | €64,936 | €28,406 | -€36,530 | -56.3% |
| Non-recurring financial income | 76B | €9,185 | €31,880 | +€22,695 | +247.1% |
| Financial charges | 65/66B | €135,255 | €137,878 | +€2,623 | +1.9% |
| Recurring financial charges | 65 | €135,255 | €137,878 | +€2,623 | +1.9% |
| Debt charges | 650 | €92,853 | €80,096 | -€12,757 | -13.7% |
| Other financial charges | 652/9 | €42,402 | €57,781 | +€15,380 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €4,568,631 | €2,700,759 | -€1.9m | -40.9% |
| Income taxes | 67/77 | €1,367,832 | €634,923 | -€732,909 | -53.6% |
| Taxes | 670/3 | €1,367,832 | €720,482 | -€647,350 | -47.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €85,559 | +€85,559 | |
| Profit (loss) for the period | 9904 | €3,200,799 | €2,065,836 | -€1.1m | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,200,799 | €2,065,836 | -€1.1m | -35.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.