Watt4ever: 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.
Watt4ever
Largest movements
- Receivables within one year -€574,475
down €574,475 (-80.6%), from €712,672 to €138,196
of which Trade receivables: -€563,440
- Cash -€174,636
down €174,636 (-60.4%), from €289,141 to €114,504
mainly Net result for the year (-€1.3m) and Trade debts (-€344,648)
- Stocks and contracts -€36,116
down €36,116 (-42.1%), from €85,881 to €49,765
- Intangible fixed assets -€35,435
down €35,435 (-7.6%), from €464,513 to €429,079
- Profit (loss) carried forward -€1.3m
down €1.3m (-124%), from -€1.0m to -€2.3m
- Debts after one year +€1.2m
up €1.2m (+455%), from €270,421 to €1.5m
- Trade debts -€344,648
down €344,648 (-28.0%), from €1.2m to €884,305
- Current portion of long-term debt -€295,656
down €295,656 (-80.8%), from €366,077 to €70,421
- Investment grants -€107,728
down €107,728 (-8.8%), from €1.2m to €1.1m
- Gross operating margin -€312,644
down €312,644 (-381%), from -€82,084 to -€394,728
- Provisions -€124,650
down €124,650, from €69,650 to -€55,000
- Staff costs +€66,184
up €66,184 (+11.9%), from €556,639 to €622,823
- Depreciation +€40,811
up €40,811 (+23.3%), from €175,028 to €215,840
- Financial income +€36,624
up €36,624 (+579,488%), from €6 to €36,630
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 | €2,399,366 | €1,578,896 | -€820,471 | -34.2% |
| Formation expenses | 20 | €1,676 | - | -€1,676 | |
| Fixed assets | 21/28 | €605,406 | €563,382 | -€42,024 | -6.9% |
| Intangible fixed assets | 21 | €464,513 | €429,079 | -€35,435 | -7.6% |
| Tangible fixed assets | 22/27 | €135,893 | €128,201 | -€7,692 | -5.7% |
| Plant, machinery and equipment | 23 | €122,692 | €114,645 | -€8,047 | -6.6% |
| Furniture and vehicles | 24 | €13,201 | €13,556 | +€355 | +2.7% |
| Financial fixed assets | 28 | €5,000 | €6,103 | +€1,103 | +22.1% |
| Current assets | 29/58 | €1,792,285 | €1,015,514 | -€776,771 | -43.3% |
| Amounts receivable after more than one year | 29 | €701,891 | €701,891 | = | 0.0% |
| Other amounts receivable | 291 | €701,891 | €701,891 | = | 0.0% |
| Stocks and contracts in progress | 3 | €85,881 | €49,765 | -€36,116 | -42.1% |
| Stocks | 30/36 | €85,881 | €49,765 | -€36,116 | -42.1% |
| Amounts receivable within one year | 40/41 | €712,672 | €138,196 | -€574,475 | -80.6% |
| Trade receivables | 40 | €594,625 | €31,185 | -€563,440 | -94.8% |
| Other amounts receivable | 41 | €118,047 | €107,011 | -€11,035 | -9.3% |
| Cash at bank and in hand | 54/58 | €289,141 | €114,504 | -€174,636 | -60.4% |
| Deferred charges and accrued income | 490/1 | €2,700 | €11,157 | +€8,457 | +313% |
| Total equity and liabilities | 10/49 | €2,399,366 | €1,578,896 | -€820,471 | -34.2% |
| Equity | 10/15 | €354,385 | -€1,022,219 | -€1.4m | |
| Contributions | 10/11 | €150,800 | €150,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,024,561 | -€2,293,438 | -€1.3m | -124% |
| Investment grants | 15 | €1,228,146 | €1,120,419 | -€107,728 | -8.8% |
| Provisions and deferred taxes | 16 | €69,650 | €14,650 | -€55,000 | -79.0% |
| Provisions for liabilities and charges | 160/5 | €69,650 | €14,650 | -€55,000 | -79.0% |
| Other liabilities and charges | 164/5 | €69,650 | €14,650 | -€55,000 | -79.0% |
| Amounts payable | 17/49 | €1,975,331 | €2,586,465 | +€611,134 | +30.9% |
| Amounts payable after more than one year | 17 | €270,421 | €1,501,236 | +€1.2m | +455% |
| Financial debts | 170/4 | €270,421 | €1,501,236 | +€1.2m | +455% |
| Amounts payable within one year | 42/48 | €1,668,496 | €1,063,262 | -€605,234 | -36.3% |
| Current portion of amounts payable after more than one year | 42 | €366,077 | €70,421 | -€295,656 | -80.8% |
| Trade debts | 44 | €1,228,953 | €884,305 | -€344,648 | -28.0% |
| Suppliers | 440/4 | €1,228,953 | €884,305 | -€344,648 | -28.0% |
| Taxes, remuneration and social security | 45 | €65,893 | €103,783 | +€37,890 | +57.5% |
| Taxes | 450/3 | €977 | - | -€977 | |
| Remuneration and social security | 454/9 | €64,916 | €103,783 | +€38,867 | +59.9% |
| Other amounts payable | 47/48 | €7,573 | €4,752 | -€2,821 | -37.2% |
| Accrued charges and deferred income | 492/3 | €36,414 | €21,968 | -€14,446 | -39.7% |
| Non-recurring operating income | 76A | €1,253 | - | -€1,253 | |
| Remuneration, social security and pensions | 62 | €556,639 | €622,823 | +€66,184 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,028 | €215,840 | +€40,811 | +23.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €69,650 | -€55,000 | -€124,650 | |
| Other operating charges | 640/8 | €1,530 | €1,503 | -€27 | -1.8% |
| Non-recurring operating charges | 66A | - | €77,300 | +€77,300 | |
| Gross operating margin | 9900 | -€82,084 | -€394,728 | -€312,644 | -381% |
| Operating profit (loss) | 9901 | -€884,932 | -€1,257,194 | -€372,262 | -42.1% |
| Financial income | 75/76B | €6 | €36,630 | +€36,624 | +579,488% |
| Recurring financial income | 75 | €6 | €36,630 | +€36,624 | +579,488% |
| Financial charges | 65/66B | €65,947 | €48,308 | -€17,639 | -26.7% |
| Recurring financial charges | 65 | €65,947 | €48,308 | -€17,639 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | -€950,873 | -€1,268,872 | -€317,999 | -33.4% |
| Income taxes | 67/77 | €977 | €5 | -€972 | -99.5% |
| Profit (loss) for the period | 9904 | -€951,850 | -€1,268,877 | -€317,027 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€951,850 | -€1,268,877 | -€317,027 | -33.3% |
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 24 October 2026 via checked.be.