WATHELET - HERMANS: 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.
WATHELET - HERMANS
Largest movements
- Cash -€133,863
down €133,863 (-68.7%), from €194,985 to €61,122
mainly Contributions, distributions and other (-€160,000) and Receivables after one year (-€130,000)
- Receivables after one year +€130,000
up €130,000 (+108%), from €120,000 to €250,000
- Financial fixed assets -€125,000
down €125,000 (-98.5%), from €126,854 to €1,854
- Receivables within one year +€119,069
up €119,069 (+96.9%), from €122,922 to €241,991
of which Trade receivables: +€117,297
- Tangible fixed assets -€66,311
down €66,311 (-24.0%), from €276,509 to €210,199
of which Furniture and vehicles: -€63,412
- Current portion of long-term debt -€83,592
down €83,592 (-59.3%), from €140,969 to €57,377
- Other debts +€62,559
up €62,559 (+47.4%), from €131,868 to €194,427
- Debts after one year -€57,377
down €57,377 (-31.4%), from €182,604 to €125,227
- Short-term financial debts -€27,414
down €27,414 (-16.6%), from €165,083 to €137,669
- Profit (loss) carried forward +€23,358
up €23,358 (+6.0%), from €387,029 to €410,387
- Gross operating margin -€90,325
down €90,325 (-13.0%), from €694,212 to €603,887
- Staff costs -€22,494
down €22,494 (-8.1%), from €276,216 to €253,722
- Taxes -€15,387
down €15,387 (-19.8%), from €77,688 to €62,301
- Depreciation +€8,009
up €8,009 (+12.6%), from €63,398 to €71,408
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 | €1,083,283 | €995,673 | -€87,610 | -8.1% |
| Fixed assets | 21/28 | €403,364 | €212,053 | -€191,311 | -47.4% |
| Tangible fixed assets | 22/27 | €276,509 | €210,199 | -€66,311 | -24.0% |
| Furniture and vehicles | 24 | €247,448 | €184,036 | -€63,412 | -25.6% |
| Other tangible fixed assets | 26 | €29,061 | €26,163 | -€2,898 | -10.0% |
| Financial fixed assets | 28 | €126,854 | €1,854 | -€125,000 | -98.5% |
| Current assets | 29/58 | €679,919 | €783,620 | +€103,701 | +15.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €250,000 | +€130,000 | +108% |
| Other amounts receivable | 291 | €120,000 | €250,000 | +€130,000 | +108% |
| Stocks and contracts in progress | 3 | €224,400 | €209,649 | -€14,751 | -6.6% |
| Stocks | 30/36 | €224,400 | €209,649 | -€14,751 | -6.6% |
| Amounts receivable within one year | 40/41 | €122,922 | €241,991 | +€119,069 | +96.9% |
| Trade receivables | 40 | €103,821 | €221,118 | +€117,297 | +113% |
| Other amounts receivable | 41 | €19,101 | €20,873 | +€1,772 | +9.3% |
| Cash at bank and in hand | 54/58 | €194,985 | €61,122 | -€133,863 | -68.7% |
| Deferred charges and accrued income | 490/1 | €17,612 | €20,858 | +€3,246 | +18.4% |
| Total equity and liabilities | 10/49 | €1,083,283 | €995,673 | -€87,610 | -8.1% |
| Equity | 10/15 | €414,529 | €437,887 | +€23,358 | +5.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €387,029 | €410,387 | +€23,358 | +6.0% |
| Amounts payable | 17/49 | €668,754 | €557,786 | -€110,968 | -16.6% |
| Amounts payable after more than one year | 17 | €182,604 | €125,227 | -€57,377 | -31.4% |
| Financial debts | 170/4 | €182,604 | €125,227 | -€57,377 | -31.4% |
| Amounts payable within one year | 42/48 | €484,713 | €431,632 | -€53,081 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €140,969 | €57,377 | -€83,592 | -59.3% |
| Financial debts | 43 | €165,083 | €137,669 | -€27,414 | -16.6% |
| Credit institutions | 430/8 | €165,083 | €137,669 | -€27,414 | -16.6% |
| Trade debts | 44 | €2,772 | €2,083 | -€689 | -24.9% |
| Suppliers | 440/4 | €2,772 | €2,083 | -€689 | -24.9% |
| Taxes, remuneration and social security | 45 | €44,020 | €40,076 | -€3,944 | -9.0% |
| Taxes | 450/3 | €5,746 | €7,540 | +€1,794 | +31.2% |
| Remuneration and social security | 454/9 | €38,274 | €32,536 | -€5,737 | -15.0% |
| Other amounts payable | 47/48 | €131,868 | €194,427 | +€62,559 | +47.4% |
| Accrued charges and deferred income | 492/3 | €1,437 | €927 | -€510 | -35.5% |
| Remuneration, social security and pensions | 62 | €276,216 | €253,722 | -€22,494 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,398 | €71,408 | +€8,009 | +12.6% |
| Other operating charges | 640/8 | €18,725 | €18,639 | -€86 | -0.5% |
| Gross operating margin | 9900 | €694,212 | €603,887 | -€90,325 | -13.0% |
| Operating profit (loss) | 9901 | €335,873 | €260,118 | -€75,755 | -22.6% |
| Financial income | 75/76B | €12 | €5,134 | +€5,121 | +41,235% |
| Recurring financial income | 75 | €12 | €134 | +€121 | +977% |
| Non-recurring financial income | 76B | - | €5,000 | +€5,000 | |
| Financial charges | 65/66B | €23,515 | €19,593 | -€3,922 | -16.7% |
| Recurring financial charges | 65 | €23,515 | €19,593 | -€3,922 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €312,371 | €245,659 | -€66,712 | -21.4% |
| Income taxes | 67/77 | €77,688 | €62,301 | -€15,387 | -19.8% |
| Profit (loss) for the period | 9904 | €234,683 | €183,358 | -€51,325 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €234,683 | €183,358 | -€51,325 | -21.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.