DR.WATTY: 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.
DR.WATTY
Largest movements
- Current investments +€433,800
up €433,800 (+28.1%), from €1.5m to €2.0m
- Cash -€163,343
down €163,343 (-54.9%), from €297,313 to €133,971
mainly Current investments (-€433,800) and Deferred charges and accrued income (-€25,820)
- Tangible fixed assets -€54,460
down €54,460 (-13.2%), from €412,150 to €357,690
of which Land and buildings: -€48,349
- Reserves +€245,635
up €245,635 (+11.8%), from €2.1m to €2.3m
- Gross operating margin -€30,452
down €30,452 (-7.2%), from €421,622 to €391,170
- Financial income +€18,935
up €18,935 (+130.1%), from €14,558 to €33,493
of which Financial income: +€18,118
- Taxes -€7,924
down €7,924 (-7.2%), from €109,622 to €101,698
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 | €2,380,805 | €2,621,077 | +€240,272 | +10.1% |
| Fixed assets | 21/28 | €412,150 | €357,690 | -€54,460 | -13.2% |
| Tangible fixed assets | 22/27 | €412,150 | €357,690 | -€54,460 | -13.2% |
| Land and buildings | 22 | €399,862 | €351,512 | -€48,349 | -12.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €12,288 | €6,177 | -€6,111 | -49.7% |
| Current assets | 29/58 | €1,968,655 | €2,263,387 | +€294,732 | +15.0% |
| Amounts receivable within one year | 40/41 | €18,710 | €17,165 | -€1,545 | -8.3% |
| Trade receivables | 40 | €16,456 | €17,165 | +€708 | +4.3% |
| Other amounts receivable | 41 | €2,253 | €0 | -€2,253 | -100.0% |
| Current investments | 50/53 | €1,545,046 | €1,978,846 | +€433,800 | +28.1% |
| Cash at bank and in hand | 54/58 | €297,313 | €133,971 | -€163,343 | -54.9% |
| Deferred charges and accrued income | 490/1 | €107,586 | €133,406 | +€25,820 | +24.0% |
| Total equity and liabilities | 10/49 | €2,380,805 | €2,621,077 | +€240,272 | +10.1% |
| Equity | 10/15 | €2,136,721 | €2,382,356 | +€245,635 | +11.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,074,721 | €2,320,356 | +€245,635 | +11.8% |
| Distributable reserves | 133 | €2,074,721 | €2,320,356 | +€245,635 | +11.8% |
| Amounts payable | 17/49 | €244,084 | €238,721 | -€5,363 | -2.2% |
| Amounts payable within one year | 42/48 | €244,084 | €237,884 | -€6,199 | -2.5% |
| Trade debts | 44 | €1,972 | €23,469 | +€21,496 | +1089.9% |
| Suppliers | 440/4 | €1,972 | €23,469 | +€21,496 | +1089.9% |
| Taxes, remuneration and social security | 45 | €26,358 | €17,324 | -€9,034 | -34.3% |
| Taxes | 450/3 | €26,358 | €17,324 | -€9,034 | -34.3% |
| Other amounts payable | 47/48 | €215,754 | €197,092 | -€18,662 | -8.6% |
| Accrued charges and deferred income | 492/3 | €0 | €837 | +€837 | |
| Non-recurring operating income | 76A | - | €1,761 | +€1,761 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,765 | €54,460 | -€3,306 | -5.7% |
| Other operating charges | 640/8 | €4,390 | €4,657 | +€267 | +6.1% |
| Non-recurring operating charges | 66A | €3,100 | €222 | -€2,878 | -92.8% |
| Gross operating margin | 9900 | €421,622 | €391,170 | -€30,452 | -7.2% |
| Operating profit (loss) | 9901 | €356,367 | €331,831 | -€24,536 | -6.9% |
| Financial income | 75/76B | €14,558 | €33,493 | +€18,935 | +130.1% |
| Recurring financial income | 75 | €14,498 | €32,616 | +€18,118 | +125.0% |
| Non-recurring financial income | 76B | €60 | €878 | +€817 | +1356.3% |
| Financial charges | 65/66B | €20,178 | €17,992 | -€2,186 | -10.8% |
| Recurring financial charges | 65 | €20,178 | €17,992 | -€2,186 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €350,748 | €347,333 | -€3,415 | -1.0% |
| Income taxes | 67/77 | €109,622 | €101,698 | -€7,924 | -7.2% |
| Profit (loss) for the period | 9904 | €241,126 | €245,635 | +€4,509 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €241,126 | €245,635 | +€4,509 | +1.9% |
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 11 October 2026 via checked.be.