Wattmann: 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.
Wattmann
Largest movements
- Current investments +€39,999
up €39,999 (+66.7%), from €59,998 to €99,997
- Cash -€23,178
down €23,178 (-20.2%), from €114,460 to €91,282
mainly Current investments (-€39,999) and Receivables within one year (-€16,948)
- Receivables within one year +€16,948
up €16,948 (+92.7%), from €18,274 to €35,222
of which Trade receivables: +€17,860
- Tangible fixed assets -€8,760
down €8,760 (-48.6%), from €18,043 to €9,283
of which Furniture and vehicles: -€7,871
- Stocks and contracts -€3,110
down €3,110 (-68.7%), from €4,528 to €1,418
- Other debts +€11,309
up €11,309 (+13.1%), from €86,180 to €97,489
- Reserves +€10,000
up €10,000 (+10.5%), from €95,500 to €105,500
- Debts after one year -€4,379
no longer reported in 2025 (was €4,379)
- Tax, wage and social debts +€4,106
up €4,106 (+73.9%), from €5,556 to €9,662
- Gross operating margin +€22,524
up €22,524 (+91.4%), from €24,646 to €47,169
- Taxes +€6,088
up €6,088 (+125.9%), from €4,835 to €10,923
- Financial charges +€2,211
up €2,211 (+51.8%), from €4,273 to €6,484
- Depreciation +€1,518
up €1,518 (+21.0%), from €7,242 to €8,760
- Financial income +€578
up €578 (+108.0%), from €535 to €1,113
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,303 | €237,203 | +€21,899 | +10.2% |
| Fixed assets | 21/28 | €18,043 | €9,283 | -€8,760 | -48.6% |
| Tangible fixed assets | 22/27 | €18,043 | €9,283 | -€8,760 | -48.6% |
| Plant, machinery and equipment | 23 | €2,848 | €1,958 | -€889 | -31.2% |
| Furniture and vehicles | 24 | €15,195 | €7,325 | -€7,871 | -51.8% |
| Current assets | 29/58 | €197,260 | €227,920 | +€30,659 | +15.5% |
| Stocks and contracts in progress | 3 | €4,528 | €1,418 | -€3,110 | -68.7% |
| Stocks | 30/36 | €4,528 | €1,418 | -€3,110 | -68.7% |
| Amounts receivable within one year | 40/41 | €18,274 | €35,222 | +€16,948 | +92.7% |
| Trade receivables | 40 | €17,008 | €34,868 | +€17,860 | +105.0% |
| Other amounts receivable | 41 | €1,267 | €355 | -€912 | -72.0% |
| Current investments | 50/53 | €59,998 | €99,997 | +€39,999 | +66.7% |
| Cash at bank and in hand | 54/58 | €114,460 | €91,282 | -€23,178 | -20.2% |
| Total equity and liabilities | 10/49 | €215,303 | €237,203 | +€21,899 | +10.2% |
| Equity | 10/15 | €112,745 | €122,915 | +€10,171 | +9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €95,500 | €105,500 | +€10,000 | +10.5% |
| Distributable reserves | 133 | €95,500 | €105,500 | +€10,000 | +10.5% |
| Profit (loss) carried forward | 14 | €11,045 | €11,215 | +€171 | +1.5% |
| Amounts payable | 17/49 | €102,559 | €114,287 | +€11,728 | +11.4% |
| Amounts payable after more than one year | 17 | €4,379 | - | -€4,379 | |
| Financial debts | 170/4 | €4,379 | - | -€4,379 | |
| Amounts payable within one year | 42/48 | €98,180 | €114,287 | +€16,107 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €4,722 | €4,379 | -€343 | -7.3% |
| Trade debts | 44 | €1,723 | €2,758 | +€1,035 | +60.0% |
| Suppliers | 440/4 | €1,723 | €2,758 | +€1,035 | +60.0% |
| Taxes, remuneration and social security | 45 | €5,556 | €9,662 | +€4,106 | +73.9% |
| Taxes | 450/3 | €5,556 | €9,662 | +€4,106 | +73.9% |
| Other amounts payable | 47/48 | €86,180 | €97,489 | +€11,309 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,242 | €8,760 | +€1,518 | +21.0% |
| Other operating charges | 640/8 | €1,121 | €944 | -€177 | -15.8% |
| Gross operating margin | 9900 | €24,646 | €47,169 | +€22,524 | +91.4% |
| Operating profit (loss) | 9901 | €16,282 | €37,465 | +€21,183 | +130.1% |
| Financial income | 75/76B | €535 | €1,113 | +€578 | +108.0% |
| Recurring financial income | 75 | €535 | €1,113 | +€578 | +108.0% |
| Financial charges | 65/66B | €4,273 | €6,484 | +€2,211 | +51.8% |
| Recurring financial charges | 65 | €4,273 | €6,484 | +€2,211 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | €12,544 | €32,094 | +€19,550 | +155.8% |
| Income taxes | 67/77 | €4,835 | €10,923 | +€6,088 | +125.9% |
| Profit (loss) for the period | 9904 | €7,709 | €21,171 | +€13,462 | +174.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,709 | €21,171 | +€13,462 | +174.6% |
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 10 October 2026 via checked.be.