WATSCH!: 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.
WATSCH!
Largest movements
- Cash +€38,008
up €38,008 (+23.1%), from €164,667 to €202,675
mainly Net result for the year (+€31,855) and Receivables within one year (+€30,461)
- Receivables within one year -€30,461
down €30,461 (-63.2%), from €48,224 to €17,763
of which Trade receivables: -€31,483
- Tangible fixed assets -€13,204
down €13,204 (-30.7%), from €43,050 to €29,846
of which Furniture and vehicles: -€7,532
- Other debts -€24,274
down €24,274 (-99.2%), from €24,459 to €186
- Reserves +€19,023
up €19,023 (+9.1%), from €209,847 to €228,870
of which Distributable reserves: +€19,023
- Taxes +€2,085
up €2,085 (+14.7%), from €14,137 to €16,222
- Gross operating margin -€1,334
down €1,334 (-2.1%), from €62,363 to €61,029
- Depreciation +€1,175
up €1,175 (+9.8%), from €12,029 to €13,204
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 | €257,756 | €252,063 | -€5,694 | -2.2% |
| Fixed assets | 21/28 | €43,050 | €29,846 | -€13,204 | -30.7% |
| Tangible fixed assets | 22/27 | €43,050 | €29,846 | -€13,204 | -30.7% |
| Plant, machinery and equipment | 23 | €6,836 | €1,163 | -€5,672 | -83.0% |
| Furniture and vehicles | 24 | €36,215 | €28,683 | -€7,532 | -20.8% |
| Current assets | 29/58 | €214,706 | €222,216 | +€7,510 | +3.5% |
| Amounts receivable within one year | 40/41 | €48,224 | €17,763 | -€30,461 | -63.2% |
| Trade receivables | 40 | €48,025 | €16,542 | -€31,483 | -65.6% |
| Other amounts receivable | 41 | €199 | €1,221 | +€1,022 | +513.2% |
| Cash at bank and in hand | 54/58 | €164,667 | €202,675 | +€38,008 | +23.1% |
| Deferred charges and accrued income | 490/1 | €1,815 | €1,778 | -€37 | -2.0% |
| Total equity and liabilities | 10/49 | €257,756 | €252,063 | -€5,694 | -2.2% |
| Equity | 10/15 | €222,247 | €241,270 | +€19,023 | +8.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €209,847 | €228,870 | +€19,023 | +9.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €209,847 | €228,870 | +€19,023 | +9.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €35,510 | €10,793 | -€24,717 | -69.6% |
| Amounts payable within one year | 42/48 | €35,510 | €10,498 | -€25,012 | -70.4% |
| Trade debts | 44 | €235 | €669 | +€434 | +184.8% |
| Suppliers | 440/4 | €235 | €669 | +€434 | +184.8% |
| Taxes, remuneration and social security | 45 | €10,815 | €9,643 | -€1,172 | -10.8% |
| Taxes | 450/3 | €8,650 | €9,643 | +€993 | +11.5% |
| Remuneration and social security | 454/9 | €2,165 | €0 | -€2,165 | -100.0% |
| Other amounts payable | 47/48 | €24,459 | €186 | -€24,274 | -99.2% |
| Accrued charges and deferred income | 492/3 | - | €295 | +€295 | |
| Non-recurring operating income | 76A | €4,706 | €0 | -€4,706 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,029 | €13,204 | +€1,175 | +9.8% |
| Other operating charges | 640/8 | €838 | €765 | -€73 | -8.7% |
| Gross operating margin | 9900 | €62,363 | €61,029 | -€1,334 | -2.1% |
| Operating profit (loss) | 9901 | €49,496 | €47,060 | -€2,436 | -4.9% |
| Financial income | 75/76B | €1,021 | €1,058 | +€36 | +3.6% |
| Recurring financial income | 75 | €1,021 | €1,058 | +€36 | +3.6% |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.1% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €50,474 | €48,078 | -€2,396 | -4.7% |
| Income taxes | 67/77 | €14,137 | €16,222 | +€2,085 | +14.7% |
| Profit (loss) for the period | 9904 | €36,336 | €31,855 | -€4,481 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,336 | €31,855 | -€4,481 | -12.3% |
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 9 October 2026 via checked.be.