WattsUp: 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.
WattsUp
Largest movements
- Tangible fixed assets +€97,941
up €97,941 (+29.2%), from €335,436 to €433,377
of which Land and buildings: +€109,591
- Cash -€62,514
down €62,514 (-23.7%), from €263,493 to €200,979
mainly Investment in fixed assets (net) (-€121,384) and Debts after one year (-€12,973)
- Profit (loss) carried forward +€35,176
up €35,176 (+11.6%), from €304,242 to €339,418
- Debts after one year -€12,973
down €12,973 (-5.4%), from €238,543 to €225,570
- Reserves +€10,000
new in 2025: €10,000
- Gross operating margin +€16,249
up €16,249 (+18.8%), from €86,573 to €102,822
- Depreciation +€11,644
up €11,644 (+98.7%), from €11,799 to €23,443
- Financial charges +€4,609
up €4,609 (+91.3%), from €5,047 to €9,656
- Taxes +€3,169
up €3,169 (+29.4%), from €10,776 to €13,945
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 | €631,471 | €661,378 | +€29,907 | +4.7% |
| Fixed assets | 21/28 | €337,436 | €435,377 | +€97,941 | +29.0% |
| Tangible fixed assets | 22/27 | €335,436 | €433,377 | +€97,941 | +29.2% |
| Land and buildings | 22 | €319,818 | €429,409 | +€109,591 | +34.3% |
| Plant, machinery and equipment | 23 | €6,422 | - | -€6,422 | |
| Furniture and vehicles | 24 | €9,196 | €3,968 | -€5,228 | -56.9% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €294,035 | €226,001 | -€68,034 | -23.1% |
| Amounts receivable within one year | 40/41 | €30,542 | €25,022 | -€5,520 | -18.1% |
| Trade receivables | 40 | €30,042 | €24,522 | -€5,520 | -18.4% |
| Other amounts receivable | 41 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €263,493 | €200,979 | -€62,514 | -23.7% |
| Total equity and liabilities | 10/49 | €631,471 | €661,378 | +€29,907 | +4.7% |
| Equity | 10/15 | €322,842 | €368,018 | +€45,176 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €10,000 | +€10,000 | |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €304,242 | €339,418 | +€35,176 | +11.6% |
| Amounts payable | 17/49 | €308,629 | €293,360 | -€15,269 | -4.9% |
| Amounts payable after more than one year | 17 | €238,543 | €225,570 | -€12,973 | -5.4% |
| Financial debts | 170/4 | €238,543 | €225,570 | -€12,973 | -5.4% |
| Amounts payable within one year | 42/48 | €70,086 | €67,790 | -€2,296 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €11,457 | €12,973 | +€1,516 | +13.2% |
| Trade debts | 44 | €6,980 | €8,048 | +€1,068 | +15.3% |
| Suppliers | 440/4 | €6,980 | €8,048 | +€1,068 | +15.3% |
| Taxes, remuneration and social security | 45 | €34,951 | €35,337 | +€386 | +1.1% |
| Taxes | 450/3 | €32,651 | €33,037 | +€386 | +1.2% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €16,698 | €11,432 | -€5,266 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,799 | €23,443 | +€11,644 | +98.7% |
| Other operating charges | 640/8 | €860 | €602 | -€258 | -30.0% |
| Gross operating margin | 9900 | €86,573 | €102,822 | +€16,249 | +18.8% |
| Operating profit (loss) | 9901 | €73,914 | €78,777 | +€4,863 | +6.6% |
| Financial charges | 65/66B | €5,047 | €9,656 | +€4,609 | +91.3% |
| Recurring financial charges | 65 | €5,047 | €9,656 | +€4,609 | +91.3% |
| Profit (loss) for the period before taxes | 9903 | €68,867 | €69,121 | +€254 | +0.4% |
| Income taxes | 67/77 | €10,776 | €13,945 | +€3,169 | +29.4% |
| Profit (loss) for the period | 9904 | €58,091 | €55,176 | -€2,915 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,091 | €55,176 | -€2,915 | -5.0% |
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 18 October 2026 via checked.be.