MakeWaves Interactive
ActiveMakeWaves Interactive has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-584k) and a net result of €77k. Equity is shrinking by ~61.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 1413 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
41
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability52▲+52
Solvency0=
Growth72▲+17
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.59 against 0.35 in 2024; short-term debt: 167.7% and cash: 7.2% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · 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 →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-88.4%
Return on assets
11.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 1413 sector peers (2025).
NBB · sector comparisonPosition among 1413 sector peers
Solvency
better than 10%
← weakest
strongest →
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 28-07-2026, 3 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
3 d early
2024
26 d late
2023
8 d early
2022
57 d late
2021
26 d late
2020
30 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.54M▲ 123%
2024 · €1.14M
2020: €308k
2021: €451k
2022: €367k
2023: €1.03M
2024: €1.14M
2020 → 2025
EBIT margin
4.7%▲ 44.5pp
2024 · -39.8%
2020: -46.2%
2021: -5.5%
2022: -29.2%
2023: 1.6%
2024: -39.8%
2020 → 2025
Net result
€77k
2024 · €-474k
2020: €-144k
2021: €-30k
2022: €-115k
2023: €2k
2024: €-474k
2020 → 2025
Working capital
€-452k▲ 31.9%
2024 · €-664k
2020: €-74k
2021: €-97k
2022: €-198k
2023: €-192k
2024: €-664k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€451k-€367k▼ 18.7%€1.03M▲ 182%€1.14M▲ 10.3%€2.54M▲ 123%
Equity€-74k-€-189k▼ 154%€-186k▲ 1.3%€-661k▼ 255%€-584k▲ 11.6%
Operating result€-25k-€-107k▼ 327%€16k€-454k€119k
Net result€-30k-€-115k▼ 276%€2k€-474k€77k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €119k after a loss of €454k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €661k
Fixed assets
€5k▲ 42.6%
Current assets
€656k▲ 85.3%
Key figures and ratios
EBITDA
€120k▲
2024 · €-448k
Cash flow
€78k▲
2024 · €-469k
Solvency
-88.4%▲
2024 · -184.9%
Current ratio
0.59▲
2024 · 0.35
Quick ratio
0.59▲
2024 · 0.35
Debt / equity
-2.13▼
2024 · -1.54
ROA
11.6%▲
2024 · -132.7%
Interest coverage
2.95▲
2024 · -22.67
Debt
€1.24M▲
2024 · €1.02M
Debt ≤ 1 year
€1.11M▲
2024 · €1.02M
Income taxes
€1k▲
2024 · €1k
Staff costs
€822k▲
2024 · €454k
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€357k€661k▲
Fixed assets21/28€3k€5k▲
Tangible fixed assets22/27€3k€5k▲
Plant, machinery and equipment23€3k€5k▲
Current assets29/58€354k€656k▲
Amounts receivable within one year40/41€328k€587k▲
Trade receivables40€284k€587k▲
Other amounts receivable41€44k€130▼
Cash at bank and in hand54/58€21k€47k▲
Deferred charges and accrued income490/1€6k€21k▲
Equity and liabilities
Total equity and liabilities10/49€357k€661k▲
Equity10/15€-661k€-584k▲
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Profit (loss) carried forward14€-761k€-684k▲
Provisions and deferred taxes16-€222
Provisions for liabilities and charges160/5-€222
Pensions and similar obligations160-€222
Amounts payable17/49€1.02M€1.24M▲
Amounts payable within one year42/48€1.02M€1.11M▲
Trade debts44€348k€233k▼
Suppliers440/4€348k€233k▼
Taxes, remuneration and social security45€51k€189k▲
Taxes450/3€1k€103k▲
Remuneration and social security454/9€50k€86k▲
Other amounts payable47/48€619k€686k▲
Accrued charges and deferred income492/3-€137k
Income statement
Code20242025
Turnover70€1.14M€2.54M▲
Goods, raw materials, services and sundry goods60/61€1.20M€1.70M▲
Remuneration, social security and pensions62€454k€822k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€929▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€222
Other operating charges640/8€4k€3k▼
Non-recurring operating charges66A€396-
Gross operating margin9900€11k€945k▲
Operating profit (loss)9901€-454k€119k▲
Financial income75/76B€7€43▲
Recurring financial income75€7€43▲
Financial charges65/66B€20k€41k▲
Recurring financial charges65€20k€41k▲
Profit (loss) for the period before taxes9903€-473k€78k▲
Income taxes67/77€1k€1k▲
Profit (loss) for the period9904€-474k€77k▲
Profit (loss) for the period to be appropriated9905€-474k€77k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-761k€-684k▲
Profit (loss) brought forward from the previous period14P€-286k€-761k▼
Social balance
Average headcount (FTE)90878.012.4▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €77k
Net result €77k after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2024
31-12
Financial
Weakest financial yearnet €-474k ▼20095%
Net result drops to €-474k, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 57 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
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 2023
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.
31-12-2023
Josephus de Wit: Resigned as Director
31-12-2023
Josephus de Wit: Resigned as Managing director
31-12-2023
KOO NV: Resigned as Director
21-06-2023
Bart Snijders: Resigned as Director
Location & real-estate footprint
Registered office, Kontich · 2 establishment units since 2019
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.
Veldkant 33 A2550 KontichGround area
3.3 ha
Building footprint
1,531 m²
Volume, LiDAR
20,553 m³
2 parcels, Flanders · tallest building 23.8 m, ±7 floors. Linked by address, not a title deed.
2 establishment units
MakeWaves Interactive
since 20192.296.283.374
MakeWaves Interactive NV / Invisible Puppy NV
since 20252.379.677.442
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0411/00H000 | Flanders | 3.0 ha | 1 · 598 m² | 23.8 m · 7 fl. |
| 11024B0079/00F000 | Flanders | 3,333 m² | 1 · 932 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
2 auditors| EY Bedrijfsrevisoren BV Statutory auditor · represented by Paul Eelen | - → 05-10-2020 |
Show 1 earlier auditors
| KPMG Bedrijfsrevisoren CVBA Statutory auditor · represented by Filip De Bock | - → 01-01-2023 |
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Of 30,000 companies in sector 62200 we hold annual accounts for 18,394. 1,778 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded11-09-2019
Fiscal year end31-12
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.