WATSON CREATIVE: 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.
WATSON CREATIVE
Largest movements
- Current investments +€120,234
up €120,234 (+28.3%), from €425,297 to €545,531
- Cash -€94,592
down €94,592 (-61.6%), from €153,632 to €59,040
mainly Current investments (-€120,234) and Contributions, distributions and other (-€107,683)
- Tangible fixed assets -€33,970
down €33,970 (-27.3%), from €124,211 to €90,241
of which Furniture and vehicles: -€24,305
- Deferred charges and accrued income -€10,142
down €10,142 (-79.6%), from €12,739 to €2,597
- Reserves +€66,804
up €66,804 (+14.0%), from €475,773 to €542,577
of which Tax-exempt reserves: +€42,100
- Trade debts -€27,876
down €27,876 (-64.0%), from €43,550 to €15,674
- Tax, wage and social debts -€25,907
down €25,907 (-14.9%), from €173,499 to €147,592
of which Remuneration and social security: -€20,664
- Debts after one year -€14,530
down €14,530 (-31.2%), from €46,631 to €32,101
- Other debts -€12,640
down €12,640 (-15.1%), from €83,946 to €71,306
- Gross operating margin +€50,389
up €50,389 (+5.6%), from €898,375 to €948,764
- Taxes +€12,447
up €12,447 (+19.2%), from €64,812 to €77,259
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 | €957,562 | €938,960 | -€18,602 | -1.9% |
| Fixed assets | 21/28 | €124,461 | €90,991 | -€33,470 | -26.9% |
| Tangible fixed assets | 22/27 | €124,211 | €90,241 | -€33,970 | -27.3% |
| Plant, machinery and equipment | 23 | €27,865 | €18,200 | -€9,665 | -34.7% |
| Furniture and vehicles | 24 | €96,346 | €72,041 | -€24,305 | -25.2% |
| Financial fixed assets | 28 | €250 | €750 | +€500 | +200.0% |
| Current assets | 29/58 | €833,101 | €847,969 | +€14,869 | +1.8% |
| Amounts receivable within one year | 40/41 | €241,432 | €240,801 | -€631 | -0.3% |
| Trade receivables | 40 | €235,221 | €233,952 | -€1,269 | -0.5% |
| Other amounts receivable | 41 | €6,211 | €6,849 | +€638 | +10.3% |
| Current investments | 50/53 | €425,297 | €545,531 | +€120,234 | +28.3% |
| Cash at bank and in hand | 54/58 | €153,632 | €59,040 | -€94,592 | -61.6% |
| Deferred charges and accrued income | 490/1 | €12,739 | €2,597 | -€10,142 | -79.6% |
| Total equity and liabilities | 10/49 | €957,562 | €938,960 | -€18,602 | -1.9% |
| Equity | 10/15 | €589,190 | €655,994 | +€66,804 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €475,773 | €542,577 | +€66,804 | +14.0% |
| Tax-exempt reserves | 132 | €42,100 | €84,200 | +€42,100 | +100.0% |
| Distributable reserves | 133 | €433,673 | €458,377 | +€24,704 | +5.7% |
| Profit (loss) carried forward | 14 | €94,817 | €94,817 | = | 0.0% |
| Amounts payable | 17/49 | €368,371 | €282,966 | -€85,406 | -23.2% |
| Amounts payable after more than one year | 17 | €46,631 | €32,101 | -€14,530 | -31.2% |
| Financial debts | 170/4 | €46,631 | €32,101 | -€14,530 | -31.2% |
| Amounts payable within one year | 42/48 | €321,653 | €250,775 | -€70,878 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €13,989 | €14,530 | +€541 | +3.9% |
| Financial debts | 43 | €6,670 | €1,674 | -€4,996 | -74.9% |
| Credit institutions | 430/8 | €6,670 | €1,674 | -€4,996 | -74.9% |
| Trade debts | 44 | €43,550 | €15,674 | -€27,876 | -64.0% |
| Suppliers | 440/4 | €43,550 | €15,674 | -€27,876 | -64.0% |
| Taxes, remuneration and social security | 45 | €173,499 | €147,592 | -€25,907 | -14.9% |
| Taxes | 450/3 | €43,546 | €38,303 | -€5,243 | -12.0% |
| Remuneration and social security | 454/9 | €129,953 | €109,289 | -€20,664 | -15.9% |
| Other amounts payable | 47/48 | €83,946 | €71,306 | -€12,640 | -15.1% |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Non-recurring operating income | 76A | €11,823 | €0 | -€11,823 | -100.0% |
| Remuneration, social security and pensions | 62 | €652,121 | €655,704 | +€3,584 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,076 | €38,878 | +€5,802 | +17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,394 | +€3,394 | |
| Other operating charges | 640/8 | €2,910 | €3,069 | +€159 | +5.5% |
| Gross operating margin | 9900 | €898,375 | €948,764 | +€50,389 | +5.6% |
| Operating profit (loss) | 9901 | €210,269 | €247,719 | +€37,451 | +17.8% |
| Financial income | 75/76B | €4,145 | €12,783 | +€8,638 | +208.4% |
| Recurring financial income | 75 | €4,145 | €12,783 | +€8,638 | +208.4% |
| Financial charges | 65/66B | €14,818 | €8,756 | -€6,062 | -40.9% |
| Recurring financial charges | 65 | €14,818 | €8,756 | -€6,062 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €199,595 | €251,746 | +€52,151 | +26.1% |
| Income taxes | 67/77 | €64,812 | €77,259 | +€12,447 | +19.2% |
| Profit (loss) for the period | 9904 | €134,783 | €174,487 | +€39,704 | +29.5% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €42,100 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €92,683 | €132,387 | +€39,704 | +42.8% |
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 5 October 2026 via checked.be.