Equity
-€583,899
Debts exceed assets in financial year 2025.
MakeWaves Interactive
Overview
Lifetime
6 annual accounts with figures on one time axisTurnoverpeak €2.5m (2025)
€2.5m▲ 123%
Resultlowest -€474,448 (2024)
€76,903▲ €551,351
Equitypeak -€43,696 (2020)
-€583,899▲ €76,903
Debts
€1.2m▲ 22.2%
Staffpeak 12.4 FTE (2025)
12.4 FTE▲ 55.0%
Board5 names since 2019
1 directorDe Cronos Groep NV
Owners5 names in the annual accounts
90%XGD and 1 other
Documentsfilings and deeds
28-07-20263 days before the deadline
2025financial year
Turnover from €1.1m to €2.5mGross margin from €10,568 to €944,694Back to profit: €76,903Staff from 8 FTE to 12.4 FTEReappointment: De Cronos Groep NV (director) 24-10Debts from €1.0m to €1.2m
Key points
from the 2025 annual accountsTurnover
€2.5m ▲ 123%
Turnover rose in 2025: different schema filed.
Debts
€1.2m 188% of the balance sheet
Suppliers 19%Taxes and wages 15%Other 66%
Of this, €1.1m falls due within a year.
Investments
€2,393 2.6 × depreciation
Green is investment, beige is depreciation. Machinery stands 42.6% higher than in 2024.
Payment terms
50 days to suppliers
MakeWaves Interactive pays its suppliers 56 days earlier than in 2024. Customers pay 7 days earlier.
Position in the sector
-€583,899
Less equity than 93% of companies in computer programming and consultancy. Sector median €432,608 · 1,687 companies.
Checked score
54
Fair
Financially stronger than 30% of small companies in computer programming and consultancy (NACE 62)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 1,168 companies (NACE 62, small).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.8%
01-2025: 0.8%● unchanged vs 12-2024
02-2025: 0.8%● unchanged vs 01-2025
03-2025: 0.8%● unchanged vs 02-2025lowest value
04-2025: 0.9%▲ +0.1 percentage points vs 03-2025
05-2025: 0.9%● unchanged vs 04-2025
06-2025: 0.9%● unchanged vs 05-2025
07-2025: 0.9%● unchanged vs 06-2025
08-2025: 1.3%▲ +0.4 percentage points vs 07-2025
09-2025: 3.1%▲ +1.8 percentage points vs 08-2025
10-2025: 3.1%● unchanged vs 09-2025
11-2025: 3.1%● unchanged vs 10-2025
12-2025: 3.9%▲ +0.8 percentage points vs 11-2025
01-2026: 3.9%● unchanged vs 12-2025highest value
02-2026: 3.9%● unchanged vs 01-2026highest value
03-2026: 3.8%▼ -0.1 percentage points vs 02-2026
04-2026: 3.8%● unchanged vs 03-2026
05-2026: 3.7%▼ -0.1 percentage points vs 04-2026
06-2026: 3.6%▼ -0.1 percentage points vs 05-2026
07-2026: 3.6%● unchanged vs 06-2026
08-2026: 0.9%▼ -2.7 percentage points vs 07-2026
09-2026: 0.9%● unchanged vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€583,899
Size: turnover €2.5m, 12.4 FTE, total assets €660,887
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Profit of €76,903 (financial year 2025)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, small). It does better than 2% of them on solvency, 6% on liquidity, 34% on profitability and 78% on growth.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 178 companies had the same profile as MakeWaves Interactive has now. Each dot is one company, two years later.
90.4%
were still trading
2.8%
stopped another way
6.2%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MakeWaves Interactive itself is lower: 0.9% within 12 months. It rests on far more data about MakeWaves Interactive than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 178 companies, not a prediction for MakeWaves Interactive. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.59 (0.35 in 2024), below 1. Short-term debt is 167.7% and cash 7.2% of total assets. Equity is negative.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 1687 sector peers (2025).
NBB · sector comparisonPosition among 1687 sector peers
Solvency
better than 9%
← 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 days early
2024
26 days late
2023
8 days early
2022
57 days late
2021
26 days late
2020
30 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 21 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 August (4 of the last 5 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
DC
De Cronos Groep NV
Director, Dirk Deroost, since 17-07-2025
KB
KPMG Bedrijfsrevisoren BV
Auditor, Filip De Bock
- XGD 90%score 82equity €10.3m (2025) · annual accounts 2025
Recent changes
Reappointment: De Cronos Groep NV (director)
Permanent representative: Dirk Deroost · General meeting of 16-07-2025 · Gazette deed
New establishment in Merelbeke-Melle
MakeWaves Interactive NV / Invisible Puppy NV, Guldensporenpark Gebouw I
2 directors resigning
KOO NV and Josephus de Wit (managing director) · Permanent representatives: Koen Van Impe and Dirk Deroost · General meeting of 08-04-2024 · Gazette deed
Permanent representatives: Filip De Bock and Gwen Cleirbaut
Board meeting of 23-10-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| MakeWaves Interactive Kontich | €660,887 | €0.9m | -88.4% | 12.4 |
| AZIRI Zonhoven | €712,125 | €1.0m | 47.8% | 10.1 |
| EXCIS COMPLIANCE BELGIUM Wommelgem | €603,541 | €0.8m | -10.1% | 9.9 |
| MEDIANE BENELUX Ixelles | €623,191 | €0.8m | -3.4% | 10.6 |
| CONICS Ypres | €703,590 | €0.8m | 37.9% | 10 |
| BRUCOOP Sint-Gillis (bij-Brussel) | €724,025 | €0.8m | 26.6% | 12.4 |
| ITERATES Chaumont-Gistoux | €537,185 | €1.2m | 6.0% | 15.2 |
These companies have the same main activity as MakeWaves Interactive: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €537,000 and €724,000, founded between 2017 and 2020.
Official details
Source: KBO- Status
- Active since 11-09-2019Normal situation
- Registered office
- 182 active companies are registered at this addressSource: KBO register, as of 6 November 2026.
- Activity
- Computer consultancy and computer facilities managementNACE 62200
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.296.283.3742550 Kontich, since 11-09-2019
- 2.379.677.4429820 Merelbeke-Melle, since 01-04-2025
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- Turnover
- €2.5m▲ 123%
- Profit
- €76,903
- Equity
- -€583,899▲ 11.6%
- Total assets
- €660,887▲ 84.9%
- Employeeson 31-12-2025
- 14▲ 55.6%
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Companies linked to MakeWaves Interactive
Parent and group
Insights on MakeWaves Interactive
MakeWaves Interactive has existed since 2019. The present size dates from 2023. Turnover rose that year from €366,601 to €1.0m and staff from 2.1 to 3.4 full-time equivalents.
Turnover has grown every year since. Solvency rose in 2025 from -184.9% to -88.4% because of the retained profit.
XGD holds 90% of the shares. In 2023, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
full format, filed on 28-07-2026, 3 days before the deadlineTurnover
€2.5m
▲ 123%
Operating result
€118,789
▲ €572,436
EBITDA
€119,717
▲ €567,462
Cash flow
€77,831
▲ €546,377
Solvency
-88.4%
▲ 96.5 percentage points
Current ratio
0.59
▲ 0.24
Money flows
of every €100 of turnover, €3.03 remains as profit in 2025Balance sheet
balance sheet total €660,887 on 31-12-2025What the company ownsHow it is paid for
Change in equityin euro
Change in cashin euro
Position in the sector
Solvency-88.4%
Higher than 9% of 1,687 companies in 2025.
Current ratio0.59
Higher than 16% of 1,654 companies in 2025.
Return on assets11.6%
Higher than 73% of 1,669 companies in 2025.
MakeWaves Interactive
Middle half of the sector
80% of the sector
Full accounts in computer programming and consultancy (NACE 62)
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter · Staff: middle half
Staff
Staff cost per FTE€66,256
Staff costs divided by the average number of full-time equivalents.
Joined and left+5
Training hours in 2025: 10.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
Total assets20/58 |
660,887 | 357,465 | 263,995 | 107,199 | 124,171 | 148,578 | |
Fixed assets21/28 |
4,903 | 3,439 | 5,519 | 14,558 | 22,860 | 29,935 | |
Intangible fixed assets21 |
- | - | 5,159 | 12,559 | 19,959 | 27,359 | |
Tangible fixed assets22/27 |
4,903 | 3,439 | 359 | 1,999 | 2,901 | 2,576 | |
Plant, machinery and equipment23 |
4,903 | 3,439 | 359 | 1,999 | 2,901 | 2,576 | |
Current assets29/58 |
655,984 | 354,026 | 258,477 | 92,641 | 101,311 | 118,642 | |
Amounts receivable within one year40/41 |
587,339 | 327,582 | 239,327 | 84,774 | 89,464 | 83,435 | |
Trade receivables40 |
587,209 | 283,815 | 239,327 | 84,774 | 89,464 | 70,363 | |
Other amounts receivable41 |
130 | 43,767 | - | - | - | 13,072 | |
Cash at bank and in hand54/58 |
47,354 | 20,733 | 17,667 | 5,304 | 10,220 | 33,272 | |
Deferred charges and accrued income490/1 |
21,292 | 5,711 | 1,483 | 2,563 | 1,628 | 1,936 | |
| Balance sheet: equity and liabilities | |||||||
Total equity and liabilities10/49 |
660,887 | 357,465 | 263,995 | 107,199 | 124,171 | 148,578 | |
Equity10/15 |
-583,899 | -660,801 | -186,353 | -188,726 | -74,182 | -43,696 | |
Contributions10/11 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
Capital10 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | - | |
Issued capital100 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
Profit (loss) carried forward14 |
-683,899 | -760,801 | -286,353 | -288,726 | -174,182 | -143,696 | |
Provisions and deferred taxes16 |
222 | - | - | - | - | - | |
Provisions for liabilities and charges160/5 |
222 | - | - | - | - | - | |
Pensions and similar obligations160 |
222 | - | - | - | - | - | |
Amounts payable17/49 |
1.2m | 1.0m | 450,348 | 295,925 | 198,353 | 192,274 | |
Amounts payable within one year42/48 |
1.1m | 1.0m | 450,348 | 290,885 | 198,353 | 192,274 | |
Trade debts44 |
233,321 | 348,286 | 172,358 | 76,364 | 42,801 | 85,052 | |
Suppliers440/4 |
233,321 | 348,286 | 172,358 | 76,364 | 42,801 | 85,052 | |
Taxes, remuneration and social security45 |
189,008 | 51,084 | 22,493 | 11,833 | 17,787 | 391 | |
Taxes450/3 |
103,469 | 1,379 | 3,619 | 4,346 | 7,386 | - | |
Remuneration and social security454/9 |
85,539 | 49,705 | 18,874 | 7,487 | 10,400 | 391 | |
Other amounts payable47/48 |
685,683 | 618,897 | 255,498 | 202,688 | 137,766 | 106,831 | |
Accrued charges and deferred income492/3 |
136,551 | - | - | 5,040 | - | - | |
| Income statement | |||||||
Turnover70 |
2.5m | 1.1m | 1.0m | 366,601 | 451,115 | 307,545 | |
Gross operating margin9900 |
944,694 | 10,568 | 213,849 | 12,620 | 84,376 | -118,234 | |
Goods, raw materials, services and sundry goods60/61 |
1.7m | 1.2m | 824,757 | 355,480 | 368,110 | 425,894 | |
Remuneration, social security and pensions62 |
821,580 | 453,594 | 186,641 | 109,459 | 99,471 | 11,439 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
929 | 5,903 | 9,039 | 9,334 | 9,059 | 11,028 | |
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 |
222 | - | - | - | - | - | |
Other operating charges640/8 |
3,175 | 4,324 | 1,744 | 747 | 873 | 1,490 | |
Non-recurring operating charges66A |
- | 396 | - | - | - | - | |
Operating profit (loss)9901 |
118,789 | -453,648 | 16,425 | -106,920 | -25,027 | -142,191 | |
Financial income75/76B |
43 | 7 | 1 | 192 | 0 | - | |
Recurring financial income75 |
43 | 7 | 1 | 192 | 0 | - | |
Financial charges65/66B |
40,599 | 19,751 | 13,679 | 7,669 | 5,530 | 1,419 | |
Recurring financial charges65 |
40,599 | 19,751 | 13,679 | 7,669 | 5,530 | 1,419 | |
Profit (loss) for the period before taxes9903 |
78,232 | -473,392 | 2,746 | -114,398 | -30,557 | -143,610 | |
Income taxes67/77 |
1,329 | 1,057 | 373 | 146 | -72 | 86 | |
Profit (loss) for the period9904 |
76,903 | -474,448 | 2,373 | -114,544 | -30,485 | -143,696 | |
Profit (loss) for the period to be appropriated9905 |
76,903 | -474,448 | 2,373 | -114,544 | -30,485 | -143,696 | |
| Appropriation of the result | |||||||
Profit (loss) to be appropriated9906 |
-683,899 | -760,801 | -286,353 | -288,726 | -174,182 | -143,696 | |
Profit (loss) brought forward from the previous period14P |
-760,801 | -286,353 | -288,726 | -174,182 | -143,696 | - | |
| Social balance sheet | |||||||
Average staff (FTE)9087 |
12.4 | 8 | 3.4 | 2.1 | 2.5 | 1.3 | |
Hours worked1013 |
18,481 | 13,466 | 5,243 | 3,638 | 4,028 | 524 | |
| Document | |||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-07-2026 | 2026-00360448 | |
| 31-12-2024 | abbreviated format | 26-08-2025 | 2025-00426459 | |
| 31-12-2023 | abbreviated format | 23-07-2024 | 2024-00290877 | |
| 31-12-2022 | abbreviated format | 26-09-2023 | 2023-00456367 | |
| 31-12-2021 | abbreviated format | 26-08-2022 | 2022-20337302 | |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-60200055 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| EBITDA | 119,717 | -447,745 | 25,464 | -97,586 | -15,969 | -131,163 | |
| Cash flow | 77,831 | -468,546 | 11,412 | -105,210 | -21,427 | -132,668 | |
| Investment in fixed assets (approximation) | 2,393 | 4,288 | 0 | 1,032 | 1,983 | 39,833 | |
| Change in cash | 26,621 | 3,066 | 12,363 | -4,916 | -23,052 | - | |
| Working capital | -452,028 | -664,240 | -191,872 | -198,244 | -97,042 | -73,632 | |
| EBIT margin | 4.7% | -39.8% | 1.6% | -29.2% | -5.5% | -46.2% | |
| Solvency | -88.4% | -184.9% | -70.6% | -176.1% | -59.7% | -29.4% | |
| Current ratio | 0.59 | 0.35 | 0.57 | 0.32 | 0.51 | 0.62 | |
| ROA | 11.6% | -132.7% | 0.9% | -106.9% | -24.6% | -96.7% | |
| Interest coverage | 2.95 | -22.67 | 1.86 | -12.72 | -2.89 | - | |
| Customer credit | 84 days | 91 days | 85 days | 84 days | 72 days | 84 days | |
| Supplier credit | 50 days | 106 days | 76 days | 78 days | 42 days | 73 days |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 14 | 9 | 5 | 3 | 5 |
| full-time | 10 | 8 | 5 | 3 | 3 |
| part-time | 4 | 1 | - | - | 2 |
| in full-time equivalents | 13.3 | 8.8 | 5 | 3 | 3.4 |
| Average over the year, in full-time equivalents | 12.4 | 8 | 3.4 | 2.1 | 2.5 |
| On a permanent contract | 14 | 9 | 5 | 3 | 3 |
| Joined | 7 | 6 | 4 | 12 | 3 |
| Left | 2 | 2 | 2 | 14 | 0 |
| Training hours | 10 | 121 | 20 | - | 12 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,392 | €4,288 | - | €1,032 | €1,983 |
| Intangible fixed assets | €1 | - | - | - | - |
| Depreciation and write-downs of the year | €929 | €5,903 | €9,039 | €9,334 | €9,059 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MakeWaves Interactive
The operating result for 2025 is a profit of €118,789, after a loss of €453,648 in 2024. It is the highest result since 2020.
Equity is negative. Debt (€1.2m) exceeds the balance-sheet total (€660,887).
Large changes and their cause
- 2025 Turnover +123% on 2024. The accounts now follow the full format, last year the abbreviated format.
Board & ownership
Board
1 director, 1 auditor, last change in 2025De Cronos Groep NV
Director, permanent representative Dirk Deroost
since 17-07-2025
term until 09-06-2031
listed in the 2025 annual accounts, filed on 28-07-2026
KPMG Bedrijfsrevisoren BV
Statutory auditor, permanent representative Filip De Bock
appointed by deed of 15-09-2023
Permanent representatives 1
Dirk Deroost
Permanent representative, for De Cronos Groep NV
in office according to the deed of 24-10-2025
Mandates through the years
5 names, the dashed line is todayDe Cronos Groep NV
Director
Director
KPMG Bedrijfsrevisoren BV
Statutory auditor
Statutory auditor
Josephus de Wit
Managing director
Managing director
KOO NV
Director
Director
Bart Snijders
Director
Director
BoardStatutory auditorEarlierRest of the term
Mandates as a list
- De Cronos Groep NV
- Director, from 11-09-2019 to date
- KPMG Bedrijfsrevisoren BV
- Statutory auditor, from 05-10-2020 to date
- Josephus de Wit
- Managing director, from 11-09-2019 to 31-12-2023
- KOO NV
- Director, from 11-09-2019 to 31-12-2023
- Bart Snijders
- Director, from 11-09-2019 to 21-06-2023
Control
Parent
Equity €10.3m
Loss €803,115 in 2025 (profit €6.9m in 2024)
Checked score 82
Source: own accounts 2025
90%
This company
MakeWaves Interactive
Equity -€583,899
Profit €76,903 in 2025
Further up the chainXplore group 100%De Cronos Groep 75.1%Nuclys 95.22%
Capital
- Capital
- €100,000
- Source
- 2025 annual accounts
Owners through the years
as the annual accounts name themOwners as a list
- XGD
- De Cronos Groep
- True Saints
- KOO
- Sprints & Sneakers BV
Source: shareholder structure in its own accounts, parent in its own accounts
Network & group
Group
XGD has 18 direct subsidiaries in 3 countries (2025 accounts)Belgium 16 Year Equity Result
- BE MakeWaves Interactive90% 2025-€583,899 result €76,903 (2025)
- BE Cloudar85% 2025€5.3m result €740,270 (2025)
- BE Elision86% 2025€4.4m result €1.2m (2025)
- BE PHPro 2025€2.4m result €619,090 (2025)
- BE Xplore Group Commerce93% 2025€1.7m result €183,564 (2025)
- BE XGTech93% 2025€1.5m result €783,506 (2025)
- BE Phanes93% 2025€1.4m result €155,503 (2025)
- BE Kunlabora86% 2025€1.3m result €453,063 (2025)
- BE Whisper86% 2025€945,617 result €33,056 (2025)
- BE Stitchd86% 2025€862,841 result €66,556 (2025)
- BE nFuse 2025€323,076 result -€40,684 (2025)
- BE Biztory55% 2025€212,987 result -€112,483 (2025)
- BE Lykios90% 2025€75,738 result €138,459 (2025)
- BE Proovno longer active 2026€44,706 result -€6,940 (2026)
- BE Egova 2025-€140,750 result €5,191 (2025)
- BE Master Data Partners84.99% 2025-€833,004 result -€101,612 (2025)
Europe 2 Year Equity Result
- ES Xplore Group Commerce SL 2024€470,891 result €62,796 (2024)
- NL Xplore Group BV90% 2024-€4.5m result -€658,086 (2024)
Source: list of holdings in the 2025 accounts of XGD. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
Part of the group Nuclys Group, risk and exposureAt the same address
Veldkant 33A, 2550 Kontich · 79 other companies| Nuclys
establishment since 21-11-2003 · founded in 2003 |
18 FTE (2025) 0861.290.318 |
| FleXSo
establishment since 23-06-2004 · founded in 2004 · group Nuclys |
116 FTE (2025) 0865.716.288 |
| CrossPoint Solutions
registered office since 14-06-2006 · founded in 2006 · group Nuclys |
12 FTE (2025) 0881.854.615 |
| Cloudar
registered office since 16-10-2014 · founded in 2014 · group Nuclys |
37 FTE (2025) 0564.763.890 |
| iRelate
registered office since 14-01-2005 · founded in 2005 · group Nuclys |
turnover €22.4m (2025) 0871.221.633 |
| Flexso Digital
registered office since 24-10-2008 · founded in 2008 · group Nuclys |
69 FTE (2025) 0807.353.863 |
| XGD
registered office since 25-07-2014 · founded in 2014 · group Nuclys |
turnover €990,900 (2025) 0557.979.137 |
| XPLORE
registered office since 10-04-1998 · founded in 1998 · group Nuclys |
23 FTE (2025) 0463.135.408 |
| HRMC
registered office since 24-01-2011 · founded in 2011 · group Nuclys |
10 FTE (2025) 0833.198.821 |
| EpicData
registered office since 26-11-2004 · founded in 2004 · group Nuclys |
43 FTE (2025) 0870.206.893 |
Connections & network
1 current directorThe network starts from the directors of MakeWaves Interactive. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Timeline
17 events since 2019Board
Filings
Financial
Establishments
2020202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBfull format · 3 days before the deadline
2025
Back to profit net €76,903 The net result is €76,903, after one loss-making year.
Reappointment: De Cronos Groep NV (director)Permanent representative: Dirk Deroost · General meeting of 16-07-20253 points ▸
- General meeting, 16-07-2025
- Director reappointment, De Cronos Groep NV
- Permanent representative, Dirk Deroost
Annual accounts 2024 filed PDFabbreviated format · 26 days late
New establishment in Merelbeke-Melle MakeWaves Interactive NV / Invisible Puppy NV, Guldensporenpark Gebouw I
2024
Weakest financial year net -€474,448 The net result drops to -€474,448, the lowest from 2020 to 2025. It recovers the following year.
Annual accounts 2023 filed PDFabbreviated format · 8 days before the deadline
2 directors resigningKOO NV and Josephus de Wit (managing director) · Permanent representatives: Koen Van Impe and Dirk Deroost · General meeting of 08-04-20246 points ▸
- General meeting, 08-04-2024
- Director resignation, KOO NV
- Permanent representative, Koen Van Impe
- Power of attorney, KOO NV
- Director resignation, Josephus de Wit (managing director)
- Permanent representative, Dirk Deroost
2023
Back to profit net €2,373 The net result is €2,373, after 3 loss-making years.
Permanent representatives: Filip De Bock and Gwen CleirbautBoard meeting of 23-10-20233 points ▸
- Board meeting, 23-10-2023
- Permanent representative, Filip De Bock
- Permanent representative, Gwen Cleirbaut
Company renamed from Sprints & Sneakers België to MakeWaves InteractiveResignation: Bart Snijders (director)2 points ▸
- Name change, MakeWaves Interactive
- Director resignation, Bart Snijders
Annual accounts 2022 filed PDFabbreviated format · 57 days late
Reappointment: KPMG Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Dirk Deroost · General meeting of 26-06-20233 points ▸
- General meeting, 26-06-2023
- Auditor reappointment, KPMG Bedrijfsrevisoren BV (statutory auditor)
- Permanent representative, Dirk Deroost
2022
Annual accounts 2021 filed PDFabbreviated format · 26 days late
2021
Annual accounts 2020 filed PDFabbreviated format · 30 days late
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0733.952.082
- VAT number
- BE 0733.952.082
- Peppol ID
- 0208:0733952082
- Other Peppol ID
- 9925:BE0733952082
- Legal form
- Public limited company
- Status
- Active, normal situation
- Founded
- 11-09-2019
- Financial year
- ends on 31 December
- Peppol
- Reachable via PeppolFollow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MakeWaves Interactive in Dutch
- Former name
- Sprints & Sneakers België until the deed of 04-10-2023
- Entity type
- Legal entity
Activities
NACEBEL 2025VAT activities
62200
Computer consultancy and computer facilities management main activity
Social security (RSZ) activities
62200
Computer consultancy and computer facilities management main activity
Joint committees annual accounts 2025
JC 200
Auxiliary committee for white-collar workers
Codes under NACEBEL 2008
VAT activities
62020
IT consultancy main activity
Social security (RSZ) activities
62020
IT consultancy main activity
Registered office and establishments
2 establishments| Establishment | Since | Unit number |
|---|---|---|
| Veldkant 33 A registered office 2550 Kontich | 11-09-2019 | 2.296.283.374 |
| MakeWaves Interactive NV / Invisible Puppy NV Guldensporenpark Gebouw I, 9820 Merelbeke-Melle | 01-04-2025 | 2.379.677.442 |