NWAVE PICTURES

Active

Private limited companyfounded 2005active for 20 yearsBondgenotenstraat 282, 1190 Vorst, BelgiumKBO/BCE: BE 0877.097.556

From the official registers: KBO 20 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

The computed 12-month bankruptcy probability of NWAVE PICTURES is 2.7% (moderate). The 2025 annual accounts show equity of €3.0m and a net result of -€5.6m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 231 sector peers (NACE 59, financial year 2025). The company has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

NWAVE PICTURESActiveChecked score 51/100

Risk analysis Report Compare

Official details

KBO

Status: Active since 04-11-2005 Normal situation
Legal form: Private limited company
Registered office: Bondgenotenstraat 282, 1190 Vorst
Activity: Production of cinema films NACE 59111and 3 others
Establishment unit: 2.150.241.461 1190 Vorst, since 02-12-2005
Financial year end: 31 December
Peppol: Reachable since 21-10-2026

Company details

Who decides

Board

Gondinet MatthieuDirector · since 01-06-2021
nWave StudiosDirector · since 15-06-2022 · permanent representative Matthieu Zeller

Auditor: RSM INTERAUDIT

Shareholders

nWave Studios100%annual accounts 2025

Board & ownership

How it is doing

51 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 2.7%

Annual accounts 2025

Turnover: €10.0m; ▲ 486%
Loss: €5.6m; ▲ 198%
Equity: €3.0m
Total assets: €24.4m; ▼ 30.7%
Staff: 2.4 FTE; ▲ 9.1%

2025 accounts filed 38 days late

Filed on 07-09-2026at the National Bank

Financials

Why 51raises riskLoss of €5.6m, the second in a row (financial year 2025)Liquidity: current ratio 1.11, cash €185,381, halvedEquity €3.0m (12.1% of total assets)Last filed accounts filed 38 days late; 1 of the last 3 lateShow the evidence

Checked score

Score 2025

51 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 44% of its sector peers (NACE 59, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 37+25

equity 12.1% of total assets

Liquidity 20+18

short-term debt 59.2% · cash 0.8%

Profitability 67+20

return on assets -22.8%

Bankruptcy probability, 12 months

2.7% Moderate

0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (2,573 companies, NACE 59, micro)

Last 24 months 11-2024: 3.5% 12-2024: 3.7%▲ +0.2 percentage points vs 11-2024 01-2025: 5.2%▲ +1.5 percentage points vs 12-2024 02-2025: 5.2%● unchanged vs 01-2025 03-2025: 5.3%▲ +0.1 percentage points vs 02-2025highest value 04-2025: 4.7%▼ -0.6 percentage points vs 03-2025 05-2025: 4.7%● unchanged vs 04-2025 06-2025: 4.7%● unchanged vs 05-2025 07-2025: 4.7%● unchanged vs 06-2025 08-2025: 1.4%▼ -3.3 percentage points vs 07-2025 09-2025: 1.4%● unchanged vs 08-2025 10-2025: 1.4%● unchanged vs 09-2025 11-2025: 1.4%● unchanged vs 10-2025 12-2025: 1.4%● unchanged vs 11-2025 01-2026: 1.4%● unchanged vs 12-2025 02-2026: 1.4%● unchanged vs 01-2026lowest value 03-2026: 1.4%● unchanged vs 02-2026 04-2026: 1.4%● unchanged vs 03-2026 05-2026: 1.4%● unchanged vs 04-2026 06-2026: 1.5%▲ +0.1 percentage points vs 05-2026 07-2026: 1.5%● unchanged vs 06-2026 08-2026: 1.9%▲ +0.4 percentage points vs 07-2026 09-2026: 2.1%▲ +0.2 percentage points vs 08-2026 10-2026: 2.7%▲ +0.6 percentage points vs 09-2026

Credit of up to €150,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.11, compared with 0.45 in 2024, below the usual 1.5; short-term debt: 59.2% and cash: 0.8% of total assets), and 87.9% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 59, micro): better than 25% on solvency, 14% on liquidity, 42% on profitability and 95% on growth.

The bankruptcy probability was computed on 31-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.

raises riskneutral

Loss of €5.6m, the second in a row (financial year 2025)

NBB · annual accounts

Liquidity: current ratio 1.11, cash €185,381, halved

NBB · annual accounts

Equity €3.0m (12.1% of total assets)

NBB · annual accounts

Last filed accounts filed 38 days late; 1 of the last 3 late

NBB · filings

A punctual record breaks

This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-09-2026, 38 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.

NBB · 10 filings

Deviation from the deadline

2025

38 days late

2024

37 days early

2023

20 days early

2022

27 days early

2021

44 days early

2020

39 days early

2019

37 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 24 days before the deadline; the sector median (NACE 59) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.

Searched, nothing found (2)

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 4 July (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

01-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

Key points

Risk: 5 loss-making years in a rowloss financial year 2025 -€5.6m View
Positive: Turnover rose in 2025from €1.7m to €10.0m ▲ 486% View
Caution: Among the weakest 5% on net resultsector median €30,770 · 230 companies -€5.6m View

Documents

Key facts about NWAVE PICTURES

What is the company number of NWAVE PICTURES?: 0877.097.556. In Belgium the VAT number is the company number with BE in front: BE 0877.097.556.
Where is NWAVE PICTURES based?: The registered office is at Bondgenotenstraat 282, 1190 Vorst.Company details
What does NWAVE PICTURES do?: According to the KBO register, the main activity is production of cinema films (NACE 59111).
What is the legal form of NWAVE PICTURES?: Private limited company (BV).
When was NWAVE PICTURES founded?: On 04-11-2005.
Is NWAVE PICTURES still active?: Yes, NWAVE PICTURES is an active enterprise in the KBO register.
How many employees does NWAVE PICTURES have?: On average 2.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of NWAVE PICTURES?: €10.0m in financial year 2025, according to the filed annual accounts.
Is NWAVE PICTURES profitable?: In financial year 2025, NWAVE PICTURES made a loss of €5.6m.
Where can I find the annual accounts of NWAVE PICTURES?: NWAVE PICTURES filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of NWAVE PICTURES due?: By 31-07-2027, for financial year 2026.Timeline