3rd Wave

Active

Private limited companyfounded 200916 yrs activeTruweelstraat 61, 9100 Sint-Niklaas, BelgiumKBO/BCE: BE 0821.438.560

3rd Wave has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €416k and a net result of €92k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 56% of 17022 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

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Checked score

Score 2025

91 / 100

Excellent

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability87▼-13

Solvency90▼-10

Growth78=

Track record100

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €35k at 30 days acceptable

Liquidity ample (current ratio 6.83 against 14.42 in 2024; short-term debt: 6.7% and cash: 33.7% of total assets), and 35% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 62

Relative position

BE, all sectors

reference

Sector 62

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

65%

Return on assets

14.4%

Age of the figures

12 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year €416k

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

on the day

2024

26 d early

2023

51 d late

2022

59 d early

2021

103 d early

2020

29 d early

2019

87 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

21-09-2026 today30-09-2026 close30-04-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€416k▲ 28.6%

2024 · €324k

2018: €166k 2019: €317k 2020: €349k 2021: €103k 2022: €116k 2023: €215k 2024: €324k

2018 → 2025

Total assets

€640k▲ 88.8%

2024 · €339k

2018: €298k 2019: €335k 2020: €365k 2021: €127k 2022: €209k 2023: €242k 2024: €339k

2018 → 2025

Net result

€92k▼ 15.3%

2024 · €109k

2018: €83k 2019: €152k 2020: €32k 2021: €-246k 2022: €13k 2023: €99k 2024: €109k

2018 → 2025

Working capital

€250k▲ 22.6%

2024 · €204k

2018: €120k 2019: €301k 2020: €349k 2021: €103k 2022: €-34k 2023: €71k 2024: €204k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€103k-€116k▲ 12.7%€215k▲ 85.6%€324k▲ 50.9%€416k▲ 28.6%

Operating result€-246k-€14k€101k▲ 620%€114k▲ 12.8%€101k▼ 11.4%

Net result€-246k-€13k€99k▲ 660%€109k▲ 10.3%€92k▼ 15.3%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 11% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €640k

54.3%

45.7%

Fixed assets €347k▲ 190%

Current assets €293k▲ 33.6%

Equity and liabilities €640k

65.0%

35.0%

Equity €416k▲ 28.6%

Debt €224k▲ 1,373%

The debt ratio rises from 4.5% to 35.0%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€139k▼

2024 · €144k

Cash flow

€130k▼

2024 · €139k

Solvency

65.0%▼

2024 · 95.5%

Current ratio

6.83▼

2024 · 14.42

Quick ratio

6.83▼

2024 · 14.42

Debt / equity

0.54▲

2024 · 0.05

ROE

22.2%▼

2024 · 33.7%

ROA

14.4%▼

2024 · 32.2%

Interest coverage

13.74▼

2024 · 26.87

Debt

€224k▲

2024 · €15k

Debt ≤ 1 year

€43k▲

2024 · €15k

Debt > 1 year

€181k

Income taxes

€221▲

2024 · €68

Staff costs

€152▼

2024 · €466

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€339k€640k▲

Fixed assets21/28€120k€347k▲

Intangible fixed assets21€120k€90k▼

Tangible fixed assets22/27€0€258k▲

Land and buildings22-€252k

Plant, machinery and equipment23€0€0=

Furniture and vehicles24€0€6k▲

Current assets29/58€219k€293k▲

Amounts receivable after more than one year29-€57k

Other amounts receivable291-€57k

Amounts receivable within one year40/41€35k€20k▼

Trade receivables40€24k€7k▼

Other amounts receivable41€11k€13k▲

Cash at bank and in hand54/58€184k€216k▲

Equity and liabilities

Total equity and liabilities10/49€339k€640k▲

Equity10/15€324k€416k▲

Contributions10/11€62k€62k=

Reserves13€52€52=

Distributable reserves133€52€52=

Profit (loss) carried forward14€262k€354k▲

Amounts payable17/49€15k€224k▲

Amounts payable after more than one year17-€181k

Financial debts170/4-€181k

Amounts payable within one year42/48€15k€43k▲

Current portion of amounts payable after more than one year42-€18k

Trade debts44€4k€232▼

Suppliers440/4€4k€232▼

Taxes, remuneration and social security45€9k€13k▲

Taxes450/3€9k€13k▲

Other amounts payable47/48€2k€12k▲

Income statement Code20242025

Remuneration, social security and pensions62€466€152▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€38k▲

Other operating charges640/8€658€33k▲

Gross operating margin9900€146k€172k▲

Operating profit (loss)9901€114k€101k▼

Financial income75/76B€300€2k▲

Recurring financial income75€300€2k▲

Financial charges65/66B€5k€10k▲

Recurring financial charges65€5k€10k▲

Profit (loss) for the period before taxes9903€109k€93k▼

Income taxes67/77€68€221▲

Profit (loss) for the period9904€109k€92k▼

Profit (loss) for the period to be appropriated9905€109k€92k▼

Appropriation of the result

Profit (loss) to be appropriated9906€262k€354k▲

Profit (loss) brought forward from the previous period14P€153k€262k▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 18Financial 8Filings 10

Next filing, fiscal year 2026, expected by 30-04-2027

2026

30-04

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

04-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-09

Financial Liquidity triplescurrent ratio 14.42

Current ratio from 4.41 to 14.42; short-term debt falls from €21k to €15k.

20-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 51 days late

2023

30-09

Financial Liquidity times 7current ratio 4.41

Current ratio from 0.63 to 4.41; short-term debt falls from €93k to €21k.

30-09

Financial Equity above €200kEq €215k ▲85.6%

2 profitable years in a row build equity to €215k.

02-03

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-09

Financial Back to profitnet €13k

Net result €13k after one loss-making year.

17-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-09

Financial Weakest financial yearnet €-246k ▼878%

Net result drops to €-246k, the lowest in the series; recovery starts the following year.

01-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

03-02

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

30-09

Financial Highest result since 2018net €152k ▲81.5%

Operating result €143k, net result €152k, both a record.

30-09

Financial Liquidity times 15current ratio 28.16

Current ratio from 1.91 to 28.16; short-term debt falls from €132k to €11k.

30-09

Financial Equity above €200kEq €317k ▲91.4%

2 profitable years in a row build equity to €317k.

01-02

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

15-01

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

26-01

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2022

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

10-03-2022 Resigned as Manager

Location & real-estate footprint

Registered office, Sint-Niklaas · 1 establishment unit since 2010

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Truweelstraat 619100 Sint-Niklaas

Ground area

409 m²

Building footprint

302 m²

Volume, LiDAR