WATRESP: 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.
WATRESP
Largest movements
- Cash +€92,144
up €92,144 (+70.1%), from €131,461 to €223,605
mainly Net result for the year (+€111,489) and Tax, wage and social debts (+€19,163)
- Financial fixed assets +€23,780
up €23,780 (+9.5%), from €251,219 to €274,999
- Reserves +€110,101
up €110,101 (+31.9%), from €344,679 to €454,780
- Tax, wage and social debts +€19,163
up €19,163 (+61.7%), from €31,056 to €50,219
- Other debts -€12,573
down €12,573 (-23.3%), from €54,041 to €41,469
- Gross operating margin +€55,713
up €55,713 (+55.9%), from €99,652 to €155,366
- Taxes +€21,810
up €21,810 (+75.1%), from €29,024 to €50,834
- Financial income +€8,616
up €8,616 (+206.7%), from €4,168 to €12,785
- Financial charges +€1,591
up €1,591 (+51.9%), from €3,064 to €4,655
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 | €448,467 | €566,564 | +€118,097 | +26.3% |
| Fixed assets | 21/28 | €254,099 | €280,809 | +€26,710 | +10.5% |
| Tangible fixed assets | 22/27 | €2,880 | €5,809 | +€2,930 | +101.8% |
| Furniture and vehicles | 24 | - | €948 | +€948 | |
| Other tangible fixed assets | 26 | €2,880 | €4,861 | +€1,982 | +68.8% |
| Financial fixed assets | 28 | €251,219 | €274,999 | +€23,780 | +9.5% |
| Current assets | 29/58 | €194,368 | €285,755 | +€91,387 | +47.0% |
| Amounts receivable within one year | 40/41 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 41 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €131,461 | €223,605 | +€92,144 | +70.1% |
| Deferred charges and accrued income | 490/1 | €12,907 | €12,150 | -€757 | -5.9% |
| Total equity and liabilities | 10/49 | €448,467 | €566,564 | +€118,097 | +26.3% |
| Equity | 10/15 | €363,279 | €473,380 | +€110,101 | +30.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €344,679 | €454,780 | +€110,101 | +31.9% |
| Distributable reserves | 133 | €344,679 | €454,780 | +€110,101 | +31.9% |
| Amounts payable | 17/49 | €85,188 | €93,184 | +€7,996 | +9.4% |
| Amounts payable within one year | 42/48 | €85,188 | €93,184 | +€7,996 | +9.4% |
| Trade debts | 44 | €91 | €1,496 | +€1,405 | +1550.3% |
| Suppliers | 440/4 | €91 | €1,496 | +€1,405 | +1550.3% |
| Taxes, remuneration and social security | 45 | €31,056 | €50,219 | +€19,163 | +61.7% |
| Taxes | 450/3 | €31,056 | €50,219 | +€19,163 | +61.7% |
| Other amounts payable | 47/48 | €54,041 | €41,469 | -€12,573 | -23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371 | €476 | +€105 | +28.2% |
| Other operating charges | 640/8 | €292 | €697 | +€405 | +138.4% |
| Gross operating margin | 9900 | €99,652 | €155,366 | +€55,713 | +55.9% |
| Operating profit (loss) | 9901 | €98,989 | €154,193 | +€55,204 | +55.8% |
| Financial income | 75/76B | €4,168 | €12,785 | +€8,616 | +206.7% |
| Recurring financial income | 75 | €4,168 | €12,785 | +€8,616 | +206.7% |
| Financial charges | 65/66B | €3,064 | €4,655 | +€1,591 | +51.9% |
| Recurring financial charges | 65 | €3,064 | €4,655 | +€1,591 | +51.9% |
| Profit (loss) for the period before taxes | 9903 | €100,094 | €162,323 | +€62,229 | +62.2% |
| Income taxes | 67/77 | €29,024 | €50,834 | +€21,810 | +75.1% |
| Profit (loss) for the period | 9904 | €71,070 | €111,489 | +€40,419 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,070 | €111,489 | +€40,419 | +56.9% |
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 29 September 2026 via checked.be.