WATT'S NEXT: 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.
WATT'S NEXT
Largest movements
- Cash -€58,640
down €58,640 (-47.7%), from €123,044 to €64,403
mainly Net result for the year (-€54,582) and Stocks and contracts (-€19,810)
- Stocks and contracts +€19,810
up €19,810 (+112%), from €17,661 to €37,471
- Deferred charges and accrued income -€11,176
down €11,176 (-39.2%), from €28,538 to €17,363
- Tangible fixed assets -€2,571
down €2,571 (-19.6%), from €13,084 to €10,513
of which Plant, machinery and equipment: -€1,546
- Profit (loss) carried forward -€54,582
down €54,582 (-153%), from -€35,664 to -€90,246
- Tax, wage and social debts +€5,602
up €5,602 (+48.9%), from €11,453 to €17,055
of which Taxes: +€6,119
- Trade debts -€4,197
down €4,197 (-20.9%), from €20,113 to €15,916
- Gross operating margin -€29,020
down €29,020 (-21.9%), from €132,383 to €103,363
- Staff costs +€6,114
up €6,114 (+4.9%), from €123,793 to €129,907
- Depreciation -€5,540
down €5,540 (-68.3%), from €8,110 to €2,571
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 | €223,228 | €169,438 | -€53,790 | -24.1% |
| Fixed assets | 21/28 | €13,084 | €10,513 | -€2,571 | -19.6% |
| Tangible fixed assets | 22/27 | €13,084 | €10,513 | -€2,571 | -19.6% |
| Plant, machinery and equipment | 23 | €9,417 | €7,871 | -€1,546 | -16.4% |
| Furniture and vehicles | 24 | €2,198 | €1,473 | -€726 | -33.0% |
| Other tangible fixed assets | 26 | €1,468 | €1,170 | -€299 | -20.3% |
| Current assets | 29/58 | €210,145 | €158,925 | -€51,220 | -24.4% |
| Stocks and contracts in progress | 3 | €17,661 | €37,471 | +€19,810 | +112% |
| Stocks | 30/36 | €17,661 | €37,471 | +€19,810 | +112% |
| Amounts receivable within one year | 40/41 | €40,902 | €39,688 | -€1,214 | -3.0% |
| Trade receivables | 40 | €36,366 | €37,114 | +€748 | +2.1% |
| Other amounts receivable | 41 | €4,536 | €2,574 | -€1,962 | -43.2% |
| Cash at bank and in hand | 54/58 | €123,044 | €64,403 | -€58,640 | -47.7% |
| Deferred charges and accrued income | 490/1 | €28,538 | €17,363 | -€11,176 | -39.2% |
| Total equity and liabilities | 10/49 | €223,228 | €169,438 | -€53,790 | -24.1% |
| Equity | 10/15 | €187,063 | €132,482 | -€54,582 | -29.2% |
| Contributions | 10/11 | €206,000 | €206,000 | = | 0.0% |
| Reserves | 13 | €16,727 | €16,727 | = | 0.0% |
| Distributable reserves | 133 | €16,727 | €16,727 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,664 | -€90,246 | -€54,582 | -153% |
| Amounts payable | 17/49 | €36,165 | €36,956 | +€791 | +2.2% |
| Amounts payable within one year | 42/48 | €36,165 | €36,604 | +€439 | +1.2% |
| Trade debts | 44 | €20,113 | €15,916 | -€4,197 | -20.9% |
| Suppliers | 440/4 | €20,113 | €15,916 | -€4,197 | -20.9% |
| Taxes, remuneration and social security | 45 | €11,453 | €17,055 | +€5,602 | +48.9% |
| Taxes | 450/3 | €481 | €6,600 | +€6,119 | +1,272% |
| Remuneration and social security | 454/9 | €10,972 | €10,455 | -€517 | -4.7% |
| Other amounts payable | 47/48 | €4,599 | €3,633 | -€966 | -21.0% |
| Accrued charges and deferred income | 492/3 | - | €352 | +€352 | |
| Remuneration, social security and pensions | 62 | €123,793 | €129,907 | +€6,114 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,110 | €2,571 | -€5,540 | -68.3% |
| Other operating charges | 640/8 | €388 | €1,074 | +€686 | +177% |
| Non-recurring operating charges | 66A | €292 | €20,310 | +€20,018 | +6,852% |
| Gross operating margin | 9900 | €132,383 | €103,363 | -€29,020 | -21.9% |
| Operating profit (loss) | 9901 | -€200 | -€50,499 | -€50,298 | -25,100% |
| Financial income | 75/76B | €737 | €1,602 | +€866 | +118% |
| Recurring financial income | 75 | €737 | €1,602 | +€866 | +118% |
| Financial charges | 65/66B | €4,993 | €4,994 | +€1 | 0.0% |
| Recurring financial charges | 65 | €4,993 | €4,994 | +€1 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,457 | -€53,890 | -€49,434 | -1,109% |
| Income taxes | 67/77 | €483 | €691 | +€208 | +43.1% |
| Profit (loss) for the period | 9904 | -€4,940 | -€54,582 | -€49,642 | -1,005% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,940 | -€54,582 | -€49,642 | -1,005% |
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 26 October 2026 via checked.be.