WATSSON: 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.
WATSSON
Largest movements
- Tangible fixed assets -€31,404
down €31,404 (-7.6%), from €412,645 to €381,240
of which Land and buildings: -€24,966
- Receivables within one year +€14,588
up €14,588 (+115%), from €12,646 to €27,233
of which Other amounts receivable: +€17,263
- Stocks and contracts -€8,844
down €8,844 (-93.6%), from €9,452 to €608
of which Contracts in progress: -€8,618
- Short-term financial debts -€45,633
down €45,633 (-100%), from €45,633 to €0
- Reserves +€28,351
up €28,351 (+21.5%), from €132,021 to €160,373
of which Distributable reserves: +€28,351
- Debts after one year -€23,074
down €23,074 (-9.7%), from €238,012 to €214,938
- Trade debts +€9,119
up €9,119 (+54.6%), from €16,690 to €25,809
- Tax, wage and social debts +€6,043
up €6,043 (+91.7%), from €6,588 to €12,631
of which Taxes: +€6,239
- Gross operating margin -€3,679
down €3,679 (-3.2%), from €113,588 to €109,908
- Financial charges -€2,646
down €2,646 (-20.2%), from €13,091 to €10,444
- Depreciation +€2,609
up €2,609 (+4.8%), from €54,223 to €56,832
- Staff costs -€1,813
down €1,813 (-87.2%), from €2,079 to €266
- Financial income +€1,348
up €1,348 (+1,957%), from €69 to €1,417
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 | €503,688 | €472,741 | -€30,947 | -6.1% |
| Fixed assets | 21/28 | €412,645 | €381,240 | -€31,404 | -7.6% |
| Tangible fixed assets | 22/27 | €412,645 | €381,240 | -€31,404 | -7.6% |
| Land and buildings | 22 | €402,718 | €377,752 | -€24,966 | -6.2% |
| Plant, machinery and equipment | 23 | €2,128 | €726 | -€1,401 | -65.9% |
| Furniture and vehicles | 24 | €7,799 | €2,762 | -€5,037 | -64.6% |
| Current assets | 29/58 | €91,044 | €91,501 | +€457 | +0.5% |
| Stocks and contracts in progress | 3 | €9,452 | €608 | -€8,844 | -93.6% |
| Stocks | 30/36 | €835 | €608 | -€227 | -27.2% |
| Contracts in progress | 37 | €8,618 | €0 | -€8,618 | -100% |
| Amounts receivable within one year | 40/41 | €12,646 | €27,233 | +€14,588 | +115% |
| Trade receivables | 40 | €12,274 | €9,599 | -€2,675 | -21.8% |
| Other amounts receivable | 41 | €371 | €17,634 | +€17,263 | +4,650% |
| Cash at bank and in hand | 54/58 | €11,290 | €9,156 | -€2,134 | -18.9% |
| Deferred charges and accrued income | 490/1 | €57,656 | €54,503 | -€3,153 | -5.5% |
| Total equity and liabilities | 10/49 | €503,688 | €472,741 | -€30,947 | -6.1% |
| Equity | 10/15 | €167,599 | €195,951 | +€28,351 | +16.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €132,021 | €160,373 | +€28,351 | +21.5% |
| Tax-exempt reserves | 132 | €6,768 | €6,768 | = | 0.0% |
| Distributable reserves | 133 | €125,253 | €153,605 | +€28,351 | +22.6% |
| Profit (loss) carried forward | 14 | €29,378 | €29,378 | = | 0.0% |
| Amounts payable | 17/49 | €336,089 | €276,790 | -€59,299 | -17.6% |
| Amounts payable after more than one year | 17 | €238,012 | €214,938 | -€23,074 | -9.7% |
| Financial debts | 170/4 | €238,012 | €214,938 | -€23,074 | -9.7% |
| Amounts payable within one year | 42/48 | €98,059 | €61,513 | -€36,546 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €26,010 | €23,074 | -€2,936 | -11.3% |
| Financial debts | 43 | €45,633 | €0 | -€45,633 | -100% |
| Credit institutions | 430/8 | €45,633 | €0 | -€45,633 | -100% |
| Trade debts | 44 | €16,690 | €25,809 | +€9,119 | +54.6% |
| Suppliers | 440/4 | €16,690 | €25,809 | +€9,119 | +54.6% |
| Taxes, remuneration and social security | 45 | €6,588 | €12,631 | +€6,043 | +91.7% |
| Taxes | 450/3 | €6,391 | €12,631 | +€6,239 | +97.6% |
| Remuneration and social security | 454/9 | €196 | €0 | -€196 | -100% |
| Other amounts payable | 47/48 | €3,139 | €0 | -€3,139 | -100% |
| Accrued charges and deferred income | 492/3 | €17 | €339 | +€321 | +1,839% |
| Remuneration, social security and pensions | 62 | €2,079 | €266 | -€1,813 | -87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,223 | €56,832 | +€2,609 | +4.8% |
| Other operating charges | 640/8 | €2,609 | €3,651 | +€1,042 | +39.9% |
| Gross operating margin | 9900 | €113,588 | €109,908 | -€3,679 | -3.2% |
| Operating profit (loss) | 9901 | €54,676 | €49,159 | -€5,517 | -10.1% |
| Financial income | 75/76B | €69 | €1,417 | +€1,348 | +1,957% |
| Recurring financial income | 75 | €69 | €1,417 | +€1,348 | +1,957% |
| Financial charges | 65/66B | €13,091 | €10,444 | -€2,646 | -20.2% |
| Recurring financial charges | 65 | €13,091 | €10,444 | -€2,646 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €41,655 | €40,132 | -€1,523 | -3.7% |
| Income taxes | 67/77 | €11,699 | €11,781 | +€81 | +0.7% |
| Profit (loss) for the period | 9904 | €29,955 | €28,351 | -€1,604 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,955 | €28,351 | -€1,604 | -5.4% |
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 15 October 2026 via checked.be.