WN WATSON: 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.
WN WATSON
Largest movements
- Cash +€62,721
up €62,721 (+135.0%), from €46,448 to €109,169
mainly Net result for the year (+€93,341) and Tax, wage and social debts (+€10,436)
- Tangible fixed assets +€8,588
up €8,588 (+276.9%), from €3,101 to €11,689
of which Land and buildings: +€5,668
- Receivables within one year -€5,127
down €5,127 (-55.4%), from €9,247 to €4,120
of which Other amounts receivable: -€4,201
- Profit (loss) carried forward +€41,228
up €41,228 (+166.4%), from €24,771 to €66,000
- Reserves +€28,583
new in 2025: €28,583
- Trade debts -€15,617
down €15,617 (-65.1%), from €23,985 to €8,367
- Tax, wage and social debts +€10,436
up €10,436 (+223.5%), from €4,669 to €15,105
- Gross operating margin +€129,736
up €129,736, from -€18,010 to €111,726
- Taxes +€14,730
new in 2025: €14,730
- Staff costs -€5,299
no longer reported in 2025 (was €5,299)
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 | €59,681 | €125,211 | +€65,530 | +109.8% |
| Fixed assets | 21/28 | €3,985 | €11,921 | +€7,936 | +199.1% |
| Intangible fixed assets | 21 | €884 | €232 | -€652 | -73.7% |
| Tangible fixed assets | 22/27 | €3,101 | €11,689 | +€8,588 | +276.9% |
| Land and buildings | 22 | - | €5,668 | +€5,668 | |
| Furniture and vehicles | 24 | €3,101 | €1,778 | -€1,323 | -42.7% |
| Other tangible fixed assets | 26 | - | €4,243 | +€4,243 | |
| Current assets | 29/58 | €55,695 | €113,289 | +€57,594 | +103.4% |
| Amounts receivable within one year | 40/41 | €9,247 | €4,120 | -€5,127 | -55.4% |
| Trade receivables | 40 | €5,047 | €4,120 | -€927 | -18.4% |
| Other amounts receivable | 41 | €4,201 | - | -€4,201 | |
| Cash at bank and in hand | 54/58 | €46,448 | €109,169 | +€62,721 | +135.0% |
| Total equity and liabilities | 10/49 | €59,681 | €125,211 | +€65,530 | +109.8% |
| Equity | 10/15 | €30,771 | €100,583 | +€69,812 | +226.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €28,583 | +€28,583 | |
| Tax-exempt reserves | 132 | - | €28,583 | +€28,583 | |
| Profit (loss) carried forward | 14 | €24,771 | €66,000 | +€41,228 | +166.4% |
| Amounts payable | 17/49 | €28,909 | €24,628 | -€4,282 | -14.8% |
| Amounts payable within one year | 42/48 | €28,909 | €23,728 | -€5,182 | -17.9% |
| Trade debts | 44 | €23,985 | €8,367 | -€15,617 | -65.1% |
| Suppliers | 440/4 | €23,985 | €8,367 | -€15,617 | -65.1% |
| Taxes, remuneration and social security | 45 | €4,669 | €15,105 | +€10,436 | +223.5% |
| Taxes | 450/3 | €4,669 | €15,105 | +€10,436 | +223.5% |
| Other amounts payable | 47/48 | €255 | €255 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €900 | +€900 | |
| Remuneration, social security and pensions | 62 | €5,299 | - | -€5,299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,479 | €3,115 | +€636 | +25.7% |
| Other operating charges | 640/8 | €431 | €468 | +€37 | +8.5% |
| Gross operating margin | 9900 | -€18,010 | €111,726 | +€129,736 | |
| Operating profit (loss) | 9901 | -€26,219 | €108,143 | +€134,362 | |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €59 | €72 | +€13 | +22.4% |
| Recurring financial charges | 65 | €59 | €72 | +€13 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,263 | €108,071 | +€134,334 | |
| Income taxes | 67/77 | - | €14,730 | +€14,730 | |
| Profit (loss) for the period | 9904 | -€26,263 | €93,341 | +€119,604 | |
| Transfer to tax-exempt reserves | 689 | - | €28,583 | +€28,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,263 | €64,758 | +€91,020 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.