Wattco: 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.
Wattco
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+93.7%), from €1.2m to €2.3m
of which Land and buildings: +€1.1m
- Receivables after one year +€175,000
up €175,000 (+700.0%), from €25,000 to €200,000
- Cash -€78,895
down €78,895 (-9.4%), from €835,729 to €756,834
mainly Investment in fixed assets (net) (-€1.2m) and Receivables after one year (-€175,000)
- Current investments -€50,000
no longer reported in 2023 (was €50,000)
- Financial fixed assets +€49,800
up €49,800 (+198.4%), from €25,106 to €74,906
- Debts after one year +€781,918
up €781,918 (+80.9%), from €966,972 to €1.7m
of which Financial debts: +€864,644
- Reserves +€355,691
up €355,691 (+32.5%), from €1.1m to €1.4m
of which Distributable reserves: +€360,968
- Current portion of long-term debt +€56,200
up €56,200 (+73.2%), from €76,739 to €132,939
- Gross operating margin -€203,254
down €203,254 (-24.9%), from €815,057 to €611,804
- Taxes -€82,810
down €82,810 (-45.1%), from €183,673 to €100,863
- Depreciation +€21,446
up €21,446 (+25.6%), from €83,752 to €105,198
- Write-downs +€13,347
no longer reported in 2023 (was -€13,347)
- Financial charges +€12,689
up €12,689 (+50.6%), from €25,084 to €37,774
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,187,449 | €3,399,326 | +€1.2m | +55.4% |
| Fixed assets | 21/28 | €1,189,949 | €2,331,394 | +€1.1m | +95.9% |
| Tangible fixed assets | 22/27 | €1,164,843 | €2,256,487 | +€1.1m | +93.7% |
| Land and buildings | 22 | €1,151,204 | €2,223,214 | +€1.1m | +93.1% |
| Plant, machinery and equipment | 23 | - | €1,502 | +€1,502 | |
| Furniture and vehicles | 24 | €11,639 | €28,021 | +€16,382 | +140.8% |
| Other tangible fixed assets | 26 | €2,000 | €3,750 | +€1,750 | +87.5% |
| Financial fixed assets | 28 | €25,106 | €74,906 | +€49,800 | +198.4% |
| Current assets | 29/58 | €997,500 | €1,067,932 | +€70,433 | +7.1% |
| Amounts receivable after more than one year | 29 | €25,000 | €200,000 | +€175,000 | +700.0% |
| Other amounts receivable | 291 | €25,000 | €200,000 | +€175,000 | +700.0% |
| Stocks and contracts in progress | 3 | - | €12,325 | +€12,325 | |
| Stocks | 30/36 | - | €12,325 | +€12,325 | |
| Amounts receivable within one year | 40/41 | €84,455 | €85,530 | +€1,075 | +1.3% |
| Trade receivables | 40 | €44,712 | €23,232 | -€21,480 | -48.0% |
| Other amounts receivable | 41 | €39,743 | €62,298 | +€22,555 | +56.8% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €835,729 | €756,834 | -€78,895 | -9.4% |
| Deferred charges and accrued income | 490/1 | €2,316 | €13,244 | +€10,928 | +471.9% |
| Total equity and liabilities | 10/49 | €2,187,449 | €3,399,326 | +€1.2m | +55.4% |
| Equity | 10/15 | €1,111,638 | €1,467,329 | +€355,691 | +32.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,093,038 | €1,448,729 | +€355,691 | +32.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €379,392 | €375,975 | -€3,417 | -0.9% |
| Distributable reserves | 133 | €711,787 | €1,072,754 | +€360,968 | +50.7% |
| Provisions and deferred taxes | 16 | €11,391 | €10,252 | -€1,139 | -10.0% |
| Deferred taxes | 168 | €11,391 | €10,252 | -€1,139 | -10.0% |
| Amounts payable | 17/49 | €1,064,420 | €1,921,745 | +€857,325 | +80.5% |
| Amounts payable after more than one year | 17 | €966,972 | €1,748,890 | +€781,918 | +80.9% |
| Financial debts | 170/4 | €809,793 | €1,674,437 | +€864,644 | +106.8% |
| Other amounts payable | 178/9 | €157,179 | €74,453 | -€82,727 | -52.6% |
| Amounts payable within one year | 42/48 | €91,576 | €168,215 | +€76,639 | +83.7% |
| Current portion of amounts payable after more than one year | 42 | €76,739 | €132,939 | +€56,200 | +73.2% |
| Trade debts | 44 | €10,298 | €31,650 | +€21,352 | +207.3% |
| Suppliers | 440/4 | €10,298 | €31,650 | +€21,352 | +207.3% |
| Taxes, remuneration and social security | 45 | €3,739 | €3,626 | -€113 | -3.0% |
| Taxes | 450/3 | €1,739 | €1,626 | -€113 | -6.5% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €800 | - | -€800 | |
| Accrued charges and deferred income | 492/3 | €5,872 | €4,640 | -€1,231 | -21.0% |
| Non-recurring operating income | 76A | €75,128 | - | -€75,128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,752 | €105,198 | +€21,446 | +25.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,347 | - | +€13,347 | |
| Other operating charges | 640/8 | €6,144 | €6,546 | +€402 | +6.5% |
| Non-recurring operating charges | 66A | €2,521 | - | -€2,521 | |
| Gross operating margin | 9900 | €815,057 | €611,804 | -€203,254 | -24.9% |
| Operating profit (loss) | 9901 | €735,987 | €500,059 | -€235,928 | -32.1% |
| Financial income | 75/76B | €10 | €7,627 | +€7,617 | +77648.4% |
| Recurring financial income | 75 | €10 | €7,627 | +€7,617 | +77648.4% |
| Financial charges | 65/66B | €25,084 | €37,774 | +€12,689 | +50.6% |
| Recurring financial charges | 65 | €25,084 | €37,774 | +€12,689 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | €710,913 | €469,913 | -€241,000 | -33.9% |
| Transfer from deferred taxes | 780 | €4,234 | €1,139 | -€3,095 | -73.1% |
| Transfer to deferred taxes | 680 | €15,625 | - | -€15,625 | |
| Income taxes | 67/77 | €183,673 | €100,863 | -€82,810 | -45.1% |
| Profit (loss) for the period | 9904 | €515,849 | €370,189 | -€145,660 | -28.2% |
| Transfer from tax-exempt reserves | 789 | €12,703 | €3,417 | -€9,286 | -73.1% |
| Transfer to tax-exempt reserves | 689 | €286,845 | - | -€286,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €241,707 | €373,607 | +€131,899 | +54.6% |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2022 and 28 February 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.