WATTSON: 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.
WATTSON
Largest movements
- Cash +€608,454
up €608,454 (+346.0%), from €175,860 to €784,315
mainly Advances received (+€883,640) and Receivables within one year (+€289,924)
- Current investments +€300,045
up €300,045, from €0 to €300,045
- Receivables within one year -€289,924
down €289,924 (-24.1%), from €1.2m to €915,565
of which Trade receivables: -€175,882
- Tangible fixed assets +€249,331
up €249,331 (+82.2%), from €303,337 to €552,668
of which Plant, machinery and equipment: +€285,974
- Deferred charges and accrued income +€150,906
up €150,906 (+156.5%), from €96,447 to €247,354
- Advances received +€883,640
new in 2025: €883,640
- Tax, wage and social debts +€172,004
up €172,004 (+134.5%), from €127,893 to €299,897
of which Taxes: +€148,357
- Short-term financial debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Trade debts -€88,309
down €88,309 (-15.0%), from €586,790 to €498,481
- Reserves +€86,265
up €86,265 (+17.8%), from €483,338 to €569,603
of which Non-distributable reserves: +€306,202
- Gross operating margin +€311,651
up €311,651 (+49.0%), from €636,228 to €947,879
- Staff costs +€165,978
up €165,978 (+32.3%), from €513,727 to €679,705
- Depreciation +€49,695
up €49,695 (+91.5%), from €54,327 to €104,022
- Taxes +€27,739
up €27,739 (+287.8%), from €9,639 to €37,378
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 | €2,086,848 | €3,021,867 | +€935,019 | +44.8% |
| Fixed assets | 21/28 | €558,050 | €774,588 | +€216,538 | +38.8% |
| Intangible fixed assets | 21 | €63,282 | €29,689 | -€33,593 | -53.1% |
| Tangible fixed assets | 22/27 | €303,337 | €552,668 | +€249,331 | +82.2% |
| Plant, machinery and equipment | 23 | €234,195 | €520,169 | +€285,974 | +122.1% |
| Furniture and vehicles | 24 | €69,143 | €32,499 | -€36,644 | -53.0% |
| Financial fixed assets | 28 | €191,431 | €192,231 | +€800 | +0.4% |
| Current assets | 29/58 | €1,528,798 | €2,247,279 | +€718,481 | +47.0% |
| Amounts receivable after more than one year | 29 | €51,000 | €0 | -€51,000 | -100.0% |
| Other amounts receivable | 291 | €51,000 | €0 | -€51,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €1,205,490 | €915,565 | -€289,924 | -24.1% |
| Trade receivables | 40 | €961,406 | €785,524 | -€175,882 | -18.3% |
| Other amounts receivable | 41 | €244,084 | €130,042 | -€114,042 | -46.7% |
| Current investments | 50/53 | €0 | €300,045 | +€300,045 | |
| Cash at bank and in hand | 54/58 | €175,860 | €784,315 | +€608,454 | +346.0% |
| Deferred charges and accrued income | 490/1 | €96,447 | €247,354 | +€150,906 | +156.5% |
| Total equity and liabilities | 10/49 | €2,086,848 | €3,021,867 | +€935,019 | +44.8% |
| Equity | 10/15 | €1,191,485 | €1,277,750 | +€86,265 | +7.2% |
| Contributions | 10/11 | €708,147 | €708,147 | = | 0.0% |
| Capital | 10 | €708,147 | €708,147 | = | 0.0% |
| Issued capital | 100 | €754,002 | €754,002 | = | 0.0% |
| Uncalled capital | 101 | €45,855 | €45,855 | = | 0.0% |
| Reserves | 13 | €483,338 | €569,603 | +€86,265 | +17.8% |
| Non-distributable reserves | 130/1 | €32,135 | €338,337 | +€306,202 | +952.9% |
| Legal reserve | 130 | €32,135 | €38,292 | +€6,157 | +19.2% |
| Own shares acquired | 1312 | - | €300,045 | +€300,045 | |
| Distributable reserves | 133 | €451,203 | €231,266 | -€219,938 | -48.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €895,362 | €1,744,117 | +€848,755 | +94.8% |
| Amounts payable after more than one year | 17 | €44,688 | €18,311 | -€26,377 | -59.0% |
| Financial debts | 170/4 | €44,688 | €18,311 | -€26,377 | -59.0% |
| Amounts payable within one year | 42/48 | €850,674 | €1,725,806 | +€875,132 | +102.9% |
| Current portion of amounts payable after more than one year | 42 | €15,338 | €6,910 | -€8,427 | -54.9% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €586,790 | €498,481 | -€88,309 | -15.0% |
| Suppliers | 440/4 | €586,790 | €498,481 | -€88,309 | -15.0% |
| Advances received on contracts in progress | 46 | - | €883,640 | +€883,640 | |
| Taxes, remuneration and social security | 45 | €127,893 | €299,897 | +€172,004 | +134.5% |
| Taxes | 450/3 | €27,715 | €176,072 | +€148,357 | +535.3% |
| Remuneration and social security | 454/9 | €100,177 | €123,825 | +€23,647 | +23.6% |
| Other amounts payable | 47/48 | €20,654 | €36,878 | +€16,224 | +78.6% |
| Remuneration, social security and pensions | 62 | €513,727 | €679,705 | +€165,978 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,327 | €104,022 | +€49,695 | +91.5% |
| Other operating charges | 640/8 | €1,193 | €3,908 | +€2,715 | +227.6% |
| Non-recurring operating charges | 66A | - | €892 | +€892 | |
| Gross operating margin | 9900 | €636,228 | €947,879 | +€311,651 | +49.0% |
| Operating profit (loss) | 9901 | €66,980 | €159,351 | +€92,371 | +137.9% |
| Financial income | 75/76B | €7,115 | €12,259 | +€5,144 | +72.3% |
| Recurring financial income | 75 | €7,115 | €12,259 | +€5,144 | +72.3% |
| Financial charges | 65/66B | €6,233 | €11,091 | +€4,858 | +77.9% |
| Recurring financial charges | 65 | €6,233 | €11,091 | +€4,858 | +77.9% |
| Profit (loss) for the period before taxes | 9903 | €67,862 | €160,520 | +€92,658 | +136.5% |
| Income taxes | 67/77 | €9,639 | €37,378 | +€27,739 | +287.8% |
| Profit (loss) for the period | 9904 | €58,223 | €123,142 | +€64,919 | +111.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,223 | €123,142 | +€64,919 | +111.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.