Waterzicht: 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.
Waterzicht
Largest movements
- Receivables after one year +€46,963
new in 2025: €46,963
- Cash -€23,823
down €23,823 (-60.7%), from €39,224 to €15,401
mainly Receivables after one year (-€46,963) and Debts after one year (-€5,037)
- Tangible fixed assets -€11,521
down €11,521 (-3.5%), from €333,789 to €322,268
- Reserves +€15,426
up €15,426 (+5.8%), from €266,035 to €281,462
of which Distributable reserves: +€15,426
- Debts after one year -€5,037
down €5,037 (-100%), from €5,037 to €0
- Gross operating margin +€1,165
up €1,165 (+3.2%), from €36,498 to €37,663
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 | €378,133 | €387,452 | +€9,319 | +2.5% |
| Fixed assets | 21/28 | €333,789 | €322,268 | -€11,521 | -3.5% |
| Tangible fixed assets | 22/27 | €333,789 | €322,268 | -€11,521 | -3.5% |
| Land and buildings | 22 | €333,789 | €322,268 | -€11,521 | -3.5% |
| Current assets | 29/58 | €44,344 | €65,184 | +€20,840 | +47.0% |
| Amounts receivable after more than one year | 29 | - | €46,963 | +€46,963 | |
| Other amounts receivable | 291 | - | €46,963 | +€46,963 | |
| Amounts receivable within one year | 40/41 | €3,823 | €1,477 | -€2,346 | -61.4% |
| Other amounts receivable | 41 | €3,823 | €1,477 | -€2,346 | -61.4% |
| Cash at bank and in hand | 54/58 | €39,224 | €15,401 | -€23,823 | -60.7% |
| Deferred charges and accrued income | 490/1 | €1,297 | €1,343 | +€45 | +3.5% |
| Total equity and liabilities | 10/49 | €378,133 | €387,452 | +€9,319 | +2.5% |
| Equity | 10/15 | €366,835 | €382,262 | +€15,426 | +4.2% |
| Contributions | 10/11 | €100,800 | €100,800 | = | 0.0% |
| Capital | 10 | €100,800 | €100,800 | = | 0.0% |
| Issued capital | 100 | €100,800 | €100,800 | = | 0.0% |
| Reserves | 13 | €266,035 | €281,462 | +€15,426 | +5.8% |
| Non-distributable reserves | 130/1 | €10,080 | €10,080 | = | 0.0% |
| Legal reserve | 130 | €10,080 | €10,080 | = | 0.0% |
| Distributable reserves | 133 | €255,955 | €271,382 | +€15,426 | +6.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €6,297 | €190 | -€6,107 | -97.0% |
| Amounts payable after more than one year | 17 | €5,037 | €0 | -€5,037 | -100% |
| Other amounts payable | 178/9 | €5,037 | €0 | -€5,037 | -100% |
| Amounts payable within one year | 42/48 | €1,260 | €190 | -€1,070 | -84.9% |
| Trade debts | 44 | €1,260 | €190 | -€1,070 | -84.9% |
| Suppliers | 440/4 | €1,260 | €190 | -€1,070 | -84.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,521 | €11,521 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €2,635 | €2,717 | +€81 | +3.1% |
| Gross operating margin | 9900 | €36,498 | €37,663 | +€1,165 | +3.2% |
| Operating profit (loss) | 9901 | €22,342 | €23,426 | +€1,084 | +4.9% |
| Financial charges | 65/66B | €713 | €797 | +€84 | +11.8% |
| Recurring financial charges | 65 | €713 | €797 | +€84 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €21,629 | €22,629 | +€1,000 | +4.6% |
| Income taxes | 67/77 | €6,879 | €7,203 | +€323 | +4.7% |
| Profit (loss) for the period | 9904 | €14,749 | €15,426 | +€677 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,749 | €15,426 | +€677 | +4.6% |
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 24 October 2026 via checked.be.