WATTVICE: 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.
WATTVICE
Largest movements
- Stocks and contracts +€489,929
new in 2025: €489,929
- Tangible fixed assets +€432,051
up €432,051 (+4389.7%), from €9,842 to €441,893
of which Assets under construction and advance payments: +€386,494
- Receivables within one year +€141,340
up €141,340 (+194.9%), from €72,516 to €213,856
of which Other amounts receivable: +€177,856
- Cash +€74,112
up €74,112 (+224.4%), from €33,025 to €107,137
mainly Debts after one year (+€1.0m) and Trade debts (+€85,230)
- Deferred charges and accrued income +€42,949
new in 2025: €42,949
- Debts after one year +€1.0m
up €1.0m (+7428.2%), from €13,850 to €1.0m
of which Other amounts payable: +€700,039
- Trade debts +€85,230
up €85,230 (+3063.7%), from €2,782 to €88,012
- Reserves +€53,930
up €53,930 (+86.3%), from €62,472 to €116,402
- Current portion of long-term debt +€16,262
new in 2025: €16,262
- Tax, wage and social debts -€14,399
down €14,399 (-45.6%), from €31,577 to €17,178
- Financial charges +€20,135
up €20,135 (+31270.3%), from €64 to €20,199
- Gross operating margin +€16,331
up €16,331 (+20.3%), from €80,447 to €96,778
- Other operating charges +€3,334
new in 2025: €3,334
- Depreciation +€2,507
up €2,507 (+113.4%), from €2,211 to €4,718
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 | €115,681 | €1,295,764 | +€1.2m | +1020.1% |
| Fixed assets | 21/28 | €9,842 | €441,893 | +€432,051 | +4389.7% |
| Tangible fixed assets | 22/27 | €9,842 | €441,893 | +€432,051 | +4389.7% |
| Furniture and vehicles | 24 | €9,842 | €52,784 | +€42,942 | +436.3% |
| Other tangible fixed assets | 26 | - | €2,615 | +€2,615 | |
| Assets under construction and advance payments | 27 | - | €386,494 | +€386,494 | |
| Current assets | 29/58 | €105,838 | €853,871 | +€748,033 | +706.8% |
| Amounts receivable after more than one year | 29 | €297 | €0 | -€297 | -100.0% |
| Other amounts receivable | 291 | €297 | €0 | -€297 | -100.0% |
| Stocks and contracts in progress | 3 | - | €489,929 | +€489,929 | |
| Stocks | 30/36 | - | €489,929 | +€489,929 | |
| Amounts receivable within one year | 40/41 | €72,516 | €213,856 | +€141,340 | +194.9% |
| Trade receivables | 40 | €72,516 | €36,000 | -€36,516 | -50.4% |
| Other amounts receivable | 41 | - | €177,856 | +€177,856 | |
| Cash at bank and in hand | 54/58 | €33,025 | €107,137 | +€74,112 | +224.4% |
| Deferred charges and accrued income | 490/1 | - | €42,949 | +€42,949 | |
| Total equity and liabilities | 10/49 | €115,681 | €1,295,764 | +€1.2m | +1020.1% |
| Equity | 10/15 | €67,472 | €121,402 | +€53,930 | +79.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €62,472 | €116,402 | +€53,930 | +86.3% |
| Distributable reserves | 133 | €62,472 | €116,402 | +€53,930 | +86.3% |
| Amounts payable | 17/49 | €48,208 | €1,174,362 | +€1.1m | +2336.0% |
| Amounts payable after more than one year | 17 | €13,850 | €1,042,626 | +€1.0m | +7428.2% |
| Financial debts | 170/4 | - | €328,738 | +€328,738 | |
| Other amounts payable | 178/9 | €13,850 | €713,888 | +€700,039 | +5054.5% |
| Amounts payable within one year | 42/48 | €34,359 | €131,736 | +€97,377 | +283.4% |
| Current portion of amounts payable after more than one year | 42 | - | €16,262 | +€16,262 | |
| Trade debts | 44 | €2,782 | €88,012 | +€85,230 | +3063.7% |
| Suppliers | 440/4 | €2,782 | €88,012 | +€85,230 | +3063.7% |
| Advances received on contracts in progress | 46 | - | €10,285 | +€10,285 | |
| Taxes, remuneration and social security | 45 | €31,577 | €17,178 | -€14,399 | -45.6% |
| Taxes | 450/3 | €31,577 | €17,178 | -€14,399 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,211 | €4,718 | +€2,507 | +113.4% |
| Other operating charges | 640/8 | - | €3,334 | +€3,334 | |
| Gross operating margin | 9900 | €80,447 | €96,778 | +€16,331 | +20.3% |
| Operating profit (loss) | 9901 | €78,236 | €88,725 | +€10,489 | +13.4% |
| Financial income | 75/76B | €0 | €210 | +€210 | +2098900.0% |
| Recurring financial income | 75 | €0 | €210 | +€210 | +2098900.0% |
| Financial charges | 65/66B | €64 | €20,199 | +€20,135 | +31270.3% |
| Recurring financial charges | 65 | €64 | €20,199 | +€20,135 | +31270.3% |
| Profit (loss) for the period before taxes | 9903 | €78,172 | €68,736 | -€9,436 | -12.1% |
| Income taxes | 67/77 | €15,700 | €14,806 | -€893 | -5.7% |
| Profit (loss) for the period | 9904 | €62,472 | €53,930 | -€8,543 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €62,472 | €53,930 | -€8,543 | -13.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.