Watson, Eldo & Cie: 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.
What changed
Watson, Eldo & Cie
NACE 18.140, Printing and reproduction of recorded media
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€107,797
2024 · €48,747+€59,051
Equity
€492,122
2024 · €384,324+€107,797
Cash
€9,066
2024 · €6,866+€2,199
Balance sheet total
€1.1m
2024 · €1.1m-€15,991
Largest movements
Assets
- Deferred charges and accrued income -€22,021
down €22,021 (-81.0%), from €27,195 to €5,174
- Receivables within one year +€12,000
new in 2025: €12,000
Equity and liabilities
- Other debts -€240,000
down €240,000 (-71.3%), from €336,613 to €96,613
- Profit (loss) carried forward +€107,797
up €107,797 (+45.4%), from €237,548 to €345,346
- Provisions +€50,000
up €50,000 (+100.0%), from €50,000 to €100,000
- Current portion of long-term debt +€28,857
up €28,857 (+21.0%), from €137,280 to €166,137
- Debts after one year +€22,336
up €22,336 (+23.3%), from €96,036 to €118,372
of which Other amounts payable: +€90,000
Income statement
- Gross operating margin +€126,098
up €126,098 (+72.6%), from €173,573 to €299,671
- Provisions +€50,000
new in 2025: €50,000
- Taxes +€23,919
up €23,919 (+138.8%), from €17,233 to €41,152
- Depreciation -€6,174
down €6,174 (-11.3%), from €54,735 to €48,561
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.
Result 2024
€48,747
Gross operating margin
+€126,098
Depreciation
+€6,174
Provisions
-€50,000
Other operating charges
+€2,415
Other operating items
-€2,751
Financial charges
+€1,033
Taxes
-€23,919
Result 2025
€107,797
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.
From operations
-€17,674
Investment
-€40,392
Financing
+€60,265
Cash 2024
€6,866
From operations (derived)
-€17,674
Net result for the year
+€107,797
Depreciation
+€48,561
Receivables within one year
-€12,000
Deferred charges and accrued income
+€22,021
Provisions
+€50,000
Trade debts
-€14,839
Tax, wage and social debts
+€20,785
Other debts
-€240,000
Investment (derived)
-€40,392
Investment in fixed assets (net)
-€40,392
Financing
+€60,265
Debts after one year
+€22,336
Current portion of long-term debt
+€28,857
Short-term financial debts
+€9,072
Cash 2025
€9,066
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,086,288 | €1,070,298 | -€15,991 | -1.5% |
| Fixed assets | 21/28 | €1,052,227 | €1,044,058 | -€8,169 | -0.8% |
| Tangible fixed assets | 22/27 | €1,052,227 | €1,044,058 | -€8,169 | -0.8% |
| Land and buildings | 22 | €924,387 | €890,528 | -€33,859 | -3.7% |
| Plant, machinery and equipment | 23 | €115,899 | €151,570 | +€35,670 | +30.8% |
| Furniture and vehicles | 24 | €2,940 | €1,960 | -€980 | -33.3% |
| Leasing and similar rights | 25 | €9,000 | - | -€9,000 | |
| Current assets | 29/58 | €34,062 | €26,240 | -€7,822 | -23.0% |
| Amounts receivable within one year | 40/41 | - | €12,000 | +€12,000 | |
| Other amounts receivable | 41 | - | €12,000 | +€12,000 | |
| Cash at bank and in hand | 54/58 | €6,866 | €9,066 | +€2,199 | +32.0% |
| Deferred charges and accrued income | 490/1 | €27,195 | €5,174 | -€22,021 | -81.0% |
| Total equity and liabilities | 10/49 | €1,086,288 | €1,070,298 | -€15,991 | -1.5% |
| Equity | 10/15 | €384,324 | €492,122 | +€107,797 | +28.0% |
| Contributions | 10/11 | €67,476 | €67,476 | = | 0.0% |
| Capital | 10 | €67,476 | €67,476 | = | 0.0% |
| Issued capital | 100 | €67,476 | €67,476 | = | 0.0% |
| Reserves | 13 | €79,300 | €79,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,748 | €6,748 | = | 0.0% |
| Legal reserve | 130 | €6,748 | €6,748 | = | 0.0% |
| Distributable reserves | 133 | €72,552 | €72,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,548 | €345,346 | +€107,797 | +45.4% |
| Provisions and deferred taxes | 16 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Major repairs and maintenance | 162 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Amounts payable | 17/49 | €651,964 | €478,176 | -€173,788 | -26.7% |
| Amounts payable after more than one year | 17 | €96,036 | €118,372 | +€22,336 | +23.3% |
| Financial debts | 170/4 | €96,036 | €28,372 | -€67,664 | -70.5% |
| Other amounts payable | 178/9 | - | €90,000 | +€90,000 | |
| Amounts payable within one year | 42/48 | €555,928 | €359,804 | -€196,124 | -35.3% |
| Current portion of amounts payable after more than one year | 42 | €137,280 | €166,137 | +€28,857 | +21.0% |
| Financial debts | 43 | - | €9,072 | +€9,072 | |
| Credit institutions | 430/8 | - | €9,072 | +€9,072 | |
| Trade debts | 44 | €40,178 | €25,339 | -€14,839 | -36.9% |
| Suppliers | 440/4 | €40,178 | €25,339 | -€14,839 | -36.9% |
| Taxes, remuneration and social security | 45 | €41,858 | €62,643 | +€20,785 | +49.7% |
| Taxes | 450/3 | €41,858 | €62,643 | +€20,785 | +49.7% |
| Other amounts payable | 47/48 | €336,613 | €96,613 | -€240,000 | -71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,735 | €48,561 | -€6,174 | -11.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,000 | +€50,000 | |
| Other operating charges | 640/8 | €37,419 | €35,004 | -€2,415 | -6.5% |
| Non-recurring operating charges | 66A | - | €2,751 | +€2,751 | |
| Gross operating margin | 9900 | €173,573 | €299,671 | +€126,098 | +72.6% |
| Operating profit (loss) | 9901 | €81,419 | €163,355 | +€81,936 | +100.6% |
| Financial charges | 65/66B | €15,440 | €14,406 | -€1,033 | -6.7% |
| Recurring financial charges | 65 | €15,440 | €14,406 | -€1,033 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €65,979 | €148,949 | +€82,970 | +125.8% |
| Income taxes | 67/77 | €17,233 | €41,152 | +€23,919 | +138.8% |
| Profit (loss) for the period | 9904 | €48,747 | €107,797 | +€59,051 | +121.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,747 | €107,797 | +€59,051 | +121.1% |
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 8 October 2026 via checked.be.