AllWaves
ActiveSummary
AllWaves has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of -€896,685. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 38% of 397 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-23
Solvency63▼-18
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.63 in 2024; short-term debt: 6.1% and cash: 3.7% of total assets), and 62.1% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€896,685
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
on the day
2024
111 d late
2023
30 d late
2022
on the day
2021
5 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 27 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#5 company by total assets in Knokke-Heist, Manufacturing sector#9 company by equity in Knokke-Heist, Manufacturing sector
Equity
€1.0m▼ 46.7%
2024 · €1.9m
Total assets
€2.7m▼ 21.1%
2024 · €3.4m
Net result
-€896,685▼ 339%
2024 · -€204,155
Working capital
-€31,952▲ 93.4%
2024 · -€484,315
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€194,456-€99,599▼ 48.8%-€347,147-€686,981▼ 97.9%-€839,774▼ 22.2%
Net result€190,780-€85,704▼ 55.1%-€370,964-€204,155▲ 45.0%-€896,685▼ 339%
Equity€1.4m-€1.5m▲ 6.1%€2.1m▲ 42.1%€1.9m▼ 9.6%€1.0m▼ 46.7%
Total assets€1.6m-€1.8m▲ 15.4%€2.5m▲ 40.3%€3.4m▲ 35.0%€2.7m▼ 21.1%
Debt€158,993-€314,295▲ 97.7%€414,268▲ 31.8%€1.5m▲ 264%€1.7m▲ 11.4%
Working capital€202,144--€276,350-€241,855▲ 12.5%-€484,315▼ 100%-€31,952▲ 93.4%
Staff (FTE)0.6-2.8▲ 367%3.9▲ 39.3%4.5▲ 15.4%2.5▼ 44.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2025 Net result -339% on 2024. Cause not known from the registers.
- 2022 Net result -55% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €839,774 in 2025 against €686,981 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€2.6m ▼ 1.3%
Current assets
€131,705 ▼ 84.0%
Equity and liabilities €2.7m
Equity
€1.0m ▼ 46.7%
Debt
€1.7m ▲ 11.4%
Debt's share of the balance-sheet total rises from 44.0% to 62.1%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.80▲
2024 · 0.63
Debt to equity
1.64▲
2024 · 0.79
ROE
-87.6%▼
2024 · -10.6%
ROA
-33.2%▼
2024 · -6.0%
Debt ≤ 1 year
€163,657▼
2024 · €1.3m
Debt > 1 year
€1.5m▲
2024 · €200,000
Income taxes
€2,501▲
2024 · €347
Staff costs
€154,534▼
2024 · €246,653
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,595 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.3%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,595 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €24 | - | - | - | - |
| Remuneration, social security and pensions62 | €7,063 | €157,480 | €264,227 | €246,653 | €154,534 | ▼ 37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,000 | - | - | - | - |
| Other operating charges640/8 | €856 | €463 | €1,138 | €2,713 | €5,863 | ▲ 116% |
| Gross operating margin9900 | €202,376 | €258,542 | -€81,781 | -€437,615 | -€679,376 | ▼ 55.2% |
| Operating profit (loss)9901 | €194,456 | €99,599 | -€347,147 | -€686,981 | -€839,774 | ▼ 22.2% |
| Financial income75/76B | €49 | €112 | - | €526,251 | €139,692 | ▼ 73.5% |
| Recurring financial income75 | €49 | €112 | - | €526,251 | €139,692 | ▼ 73.5% |
| Financial charges65/66B | €3,725 | €13,635 | €23,817 | €43,079 | €194,103 | ▲ 351% |
| Recurring financial charges65 | €3,725 | €13,635 | €23,817 | €43,079 | €194,103 | ▲ 351% |
| Profit (loss) for the period before taxes9903 | €190,780 | €86,076 | -€370,964 | -€203,808 | -€894,184 | ▼ 339% |
| Income taxes67/77 | - | €372 | - | €347 | €2,501 | ▲ 621% |
| Profit (loss) for the period9904 | €190,780 | €85,704 | -€370,964 | -€204,155 | -€896,685 | ▼ 339% |
| Profit (loss) for the period to be appropriated9905 | €190,780 | €85,704 | -€370,964 | -€204,155 | -€896,685 | ▼ 339% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.8m | €2.5m | €3.4m | €2.7m | ▼ 21.1% |
| Fixed assets21/28 | €1.2m | €1.8m | €2.4m | €2.6m | €2.6m | ▼ 1.3% |
| Intangible fixed assets21 | €1.1m | €1.7m | €2.3m | €2.5m | €2.6m | ▲ 1.2% |
| Financial fixed assets28 | €63,000 | €63,000 | €63,000 | €63,000 | - | - |
| Current assets29/58 | €361,137 | €37,944 | €172,414 | €823,674 | €131,705 | ▼ 84.0% |
| Amounts receivable within one year40/41 | €48,542 | €23,051 | €32,845 | €14,597 | €29,473 | ▲ 102% |
| Trade receivables40 | - | €1,147 | €2,237 | €421 | €421 | = |
| Other amounts receivable41 | €48,542 | €21,904 | €30,608 | €14,176 | €29,052 | ▲ 105% |
| Cash at bank and in hand54/58 | €306,887 | €8,798 | €132,202 | €795,661 | €99,062 | ▼ 87.5% |
| Deferred charges and accrued income490/1 | €5,707 | €6,096 | €7,367 | €13,415 | €3,169 | ▼ 76.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.8m | €2.5m | €3.4m | €2.7m | ▼ 21.1% |
| Equity10/15 | €1.4m | €1.5m | €2.1m | €1.9m | €1.0m | ▼ 46.7% |
| Contributions10/11 | €1.2m | €1.2m | €2.2m | €2.2m | €2.2m | = |
| Profit (loss) carried forward14 | €190,780 | €276,485 | -€94,479 | -€298,634 | -€1.2m | ▼ 300% |
| Amounts payable17/49 | €158,993 | €314,295 | €414,268 | €1.5m | €1.7m | ▲ 11.4% |
| Amounts payable after more than one year17 | - | - | - | €200,000 | €1.5m | ▲ 658% |
| Financial debts170/4 | - | - | - | €200,000 | €1.5m | ▲ 658% |
| Amounts payable within one year42/48 | €158,993 | €314,295 | €414,268 | €1.3m | €163,657 | ▼ 87.5% |
| Current portion of amounts payable after more than one year42 | - | €150,000 | - | - | - | - |
| Financial debts43 | €1,008 | €125,719 | €300,000 | €1.2m | €125,000 | ▼ 89.8% |
| Credit institutions430/8 | €1,008 | €125,719 | €300,000 | €625,000 | €125,000 | ▼ 80.0% |
| Other loans439 | - | - | - | €600,000 | - | - |
| Trade debts44 | €100,125 | €38,205 | €68,811 | €50,409 | €10,216 | ▼ 79.7% |
| Suppliers440/4 | €100,125 | €38,205 | €68,811 | €50,409 | €10,216 | ▼ 79.7% |
| Advances received on contracts in progress46 | €55,500 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €2,247 | €372 | €45,457 | €32,581 | €8,441 | ▼ 74.1% |
| Taxes450/3 | - | €372 | €3,290 | €3,724 | - | - |
| Remuneration and social security454/9 | €2,247 | - | €42,167 | €28,857 | €8,441 | ▼ 70.8% |
| Other amounts payable47/48 | €112 | - | - | - | €20,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €190,780 | €85,704 | -€370,964 | -€204,155 | -€896,685 | ▼ 339% |
| + Depreciation and write-downs630 | - | €1,000 | - | - | - | - |
| Operating cash flow (approximation) | €190,780 | €86,704 | -€370,964 | -€204,155 | -€896,685 | ▼ 339% |
| Investment in fixed assets (approximation) | - | -€565,199 | -€594,553 | -€238,305 | €33,049 | ▲ 114% |
| Change in cash | - | -€298,089 | €123,404 | €663,460 | -€696,599 | ▼ 205% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
28-07
State Gazette act
Appointment: GENI-GROUP BV (non-statutory director)Permanent representative: Lieven Decat · Power of attorney6 facts ▸
State Gazette act
Appointment: GENI-GROUP BV (non-statutory director)
Permanent representative: Lieven Decat · Power of attorney6 facts ▸
- General meeting, 07-07-2026
- Director appointment, GENI-GROUP BV (non-statutory director)
- Permanent representative, Lieven Decat (permanent representative)
- Power of attorney
- Power of attorney, Gert Vanopstal
- Power of attorney, Arnold Benoot
2025
31-12
Financial
Weakest financial yearnet -€896,685
Net result drops to -€896,685, the lowest in the series.
19-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 111 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Equity above €2mEq €2.1m ▲42.1%
Equity rises from €1.5m to €2.1m.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
GENI-GROUP
CurrentNon-statutory director · since 07-07-2026 · Private limited company · perm. rep.: Lieven Decat
Permanent representatives 1
Lieven Decat
CurrentPermanent representative · since 07-07-2026 · for GENI-GROUP
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
7 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Knokke-Heist · 1 establishment unit since 2020
Ground area
2,650 m²
Building footprint
134 m²
Volume, LiDAR
148 m³
Parcel 31039E0077/00N000, Flanders · tallest building 5.0 m. Linked by address, not a title deed.
61
companies at this address
See who is registered here
1 establishment unit
AllWaves
since 20202.303.647.456
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31039E0077/00N000 | Flanders | 2,650 m² | 1 · 134 m² | 5.0 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| GENI-GROUP |
|
Structure & network
Owners and holdings
1 ownerOwners 1
-
30.55%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 484,781 EUR awarded · 476,586 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 2,820 EUR | 102,744 EUR |
| 2024 | 3 | 457,619 EUR | 369,180 EUR |
| 2023 | 1 | 19,680 EUR | 0 EUR |
| 2022 | 3 | 4,662 EUR | 4,662 EUR |
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Of 42 companies in sector 28130 we hold annual accounts for 33. 23 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
28130Manufacture of machinery and equipment not elsewhere classified
71121Engineering and related technical consultancy, excluding land surveyors
28120Manufacture of machinery and equipment not elsewhere classified
82400Office administrative, office support and other business support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0748676583
Also
9925:BE0748676583
Registered
09-09-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.