WATINCO: 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.
WATINCO
Largest movements
- Current investments +€53,571
up €53,571 (+30.8%), from €173,764 to €227,334
- Cash -€14,228
down €14,228 (-27.8%), from €51,226 to €36,997
mainly Current investments (-€53,571) and Deferred charges and accrued income (-€8,602)
- Deferred charges and accrued income +€8,602
up €8,602 (+228%), from €3,765 to €12,366
- Reserves +€42,467
up €42,467 (+19.9%), from €213,929 to €256,396
- Gross operating margin -€11,718
down €11,718 (-8.9%), from €130,972 to €119,254
- Taxes -€3,785
down €3,785 (-13.9%), from €27,267 to €23,483
- Other operating charges +€2,003
up €2,003 (+221%), from €904 to €2,907
- Financial income +€1,975
up €1,975 (+61.2%), from €3,227 to €5,201
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 | €235,241 | €279,137 | +€43,896 | +18.7% |
| Fixed assets | 21/28 | €3,313 | €1,294 | -€2,019 | -60.9% |
| Tangible fixed assets | 22/27 | €3,263 | €1,244 | -€2,019 | -61.9% |
| Furniture and vehicles | 24 | €3,263 | €1,244 | -€2,019 | -61.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €231,927 | €277,842 | +€45,915 | +19.8% |
| Amounts receivable within one year | 40/41 | €3,173 | €1,145 | -€2,029 | -63.9% |
| Other amounts receivable | 41 | €3,173 | €1,145 | -€2,029 | -63.9% |
| Current investments | 50/53 | €173,764 | €227,334 | +€53,571 | +30.8% |
| Cash at bank and in hand | 54/58 | €51,226 | €36,997 | -€14,228 | -27.8% |
| Deferred charges and accrued income | 490/1 | €3,765 | €12,366 | +€8,602 | +228% |
| Total equity and liabilities | 10/49 | €235,241 | €279,137 | +€43,896 | +18.7% |
| Equity | 10/15 | €220,129 | €262,596 | +€42,467 | +19.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €213,929 | €256,396 | +€42,467 | +19.9% |
| Distributable reserves | 133 | €213,929 | €256,396 | +€42,467 | +19.9% |
| Profit (loss) carried forward | 14 | - | €0 | +€0 | |
| Amounts payable | 17/49 | €15,112 | €16,540 | +€1,429 | +9.5% |
| Amounts payable within one year | 42/48 | €14,796 | €15,269 | +€474 | +3.2% |
| Taxes, remuneration and social security | 45 | €13,056 | €13,414 | +€357 | +2.7% |
| Taxes | 450/3 | €467 | €485 | +€18 | +3.9% |
| Remuneration and social security | 454/9 | €12,589 | €12,928 | +€339 | +2.7% |
| Other amounts payable | 47/48 | €1,739 | €1,856 | +€116 | +6.7% |
| Accrued charges and deferred income | 492/3 | €316 | €1,271 | +€955 | +302% |
| Remuneration, social security and pensions | 62 | €51,067 | €51,799 | +€732 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,093 | €2,019 | -€1,074 | -34.7% |
| Other operating charges | 640/8 | €904 | €2,907 | +€2,003 | +221% |
| Gross operating margin | 9900 | €130,972 | €119,254 | -€11,718 | -8.9% |
| Operating profit (loss) | 9901 | €75,908 | €62,529 | -€13,379 | -17.6% |
| Financial income | 75/76B | €3,227 | €5,201 | +€1,975 | +61.2% |
| Recurring financial income | 75 | €3,227 | €5,201 | +€1,975 | +61.2% |
| Financial charges | 65/66B | €92 | €114 | +€22 | +24.3% |
| Recurring financial charges | 65 | €92 | €114 | +€22 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | €79,043 | €67,616 | -€11,427 | -14.5% |
| Income taxes | 67/77 | €27,267 | €23,483 | -€3,785 | -13.9% |
| Profit (loss) for the period | 9904 | €51,775 | €44,133 | -€7,642 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,775 | €44,133 | -€7,642 | -14.8% |
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 13 October 2026 via checked.be.