WAVE

Active Public limited companyfounded 1998active for 27 yearsWouwersstraat 6, 2970 SchildeKBO/BCE: BE 0464.754.318 subsidiary of BIMMO#2 company by total assets in Schilde, Other services sector

Part of the group BIMMO 8 companies

See the group

WAVE

Financial year 2025

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Annual accounts 2025

full format, filed on 16-06-2026, 45 days before the deadline

Gross margin

€280,510

▼ 40.5%

Operating result

-€144,164

▼ €126,326

Loss

-€193,895

▼ €131,792

Working capital

-€1.3m

▼ €116,208

Solvency

75.3%

▲ 3.0 percentage points

Current ratio

0.03

▼ 0.26

The turnover shown is an estimate from the gross margin.

Turnover ≈ €320,000. Estimated: probably between €300,000 and €520,000.

In the rankings #2 company by total assets in Schilde, Other services sector #2 company by equity in Schilde, Other services sector #8 oldest company in Schilde, Other services sector

Balance sheet

balance sheet total €6.8m on 31-12-2025

What the company ownsHow it is paid for

Change in equityin €m

Change in cashin euro

Position in the sector

Compare with sector

Solvency75.3%

Higher than 83% of 383 companies in 2025.

Current ratio0.03

Lower than 95% of 372 companies in 2025.

Return on assets-2.8%

Higher than 26% of 375 companies in 2025.

WAVE Middle half of the sector 80% of the sector Full accounts in personal services (NACE 96)

Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: bottom quarter

Staff

Staff cost per FTE€31,757

Staff costs divided by the average number of full-time equivalents.

Joined and left-2

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	6.8m	7.4m	7.5m	7.6m	7.8m	8.2m	9.7m	10.5m	10.7m	10.9m	4.2m	2.9m	2.9m	3.0m	3.2m	3.3m	448,647	459,743	497,834	522,728
Fixed assets`21/28`	6.8m	6.9m	7.2m	7.5m	7.8m	8.1m	9.6m	10.3m	10.6m	10.8m	4.2m	2.8m	2.9m	3.0m	3.1m	3.2m	439,021	453,961	477,923	517,704
Intangible fixed assets`21`	0	6,300	12,600	18,900	25,200	31,500	37,800	44,100	50,400	56,700	-	-	-	-	-	-	-	-	-	-
Tangible fixed assets`22/27`	6.8m	6.9m	7.2m	7.5m	7.7m	8.1m	9.6m	10.2m	10.5m	10.7m	4.2m	2.8m	2.9m	3.0m	3.1m	3.2m	439,021	453,961	477,923	517,704
Land and buildings`22`	6.1m	6.4m	6.6m	6.9m	7.1m	7.4m	8.8m	9.5m	9.7m	9.9m	4.2m	2.8m	2.9m	3.0m	3.1m	3.2m	428,483	437,988	447,493	456,998
Plant, machinery and equipment`23`	671,100	512,908	572,610	601,990	622,469	692,240	772,779	719,552	788,689	783,299	34,553	-	3,043	-	-	-	-	153	26,950	53,748
Furniture and vehicles`24`	-	0	-	-	-	600	1,890	3,919	5,949	3,009	3,025	-	-	-	-	5,269	10,537	15,819	3,479	6,958
Other tangible fixed assets`26`	125	1,430	2,460	3,490	4,520	5,550	6,580	7,610	8,640	10,980	-	-	-	-	-	-	-	-	-	-
Financial fixed assets`28`	4,260	4,360	4,360	4,360	4,360	4,360	14,360	14,360	14,260	14,260	-	-	-	-	-	-	-	-	-	-
Current assets`29/58`	37,315	491,293	274,121	93,219	48,986	60,871	52,680	173,127	60,838	120,913	14,864	10,036	350	9,372	17,379	40,000	9,627	5,782	19,911	5,024
Stocks and contracts in progress`3`	0	4,950	6,599	3,514	2,640	4,369	2,389	5,699	8,039	3,644	-	-	-	-	-	-	-	-	-	-
Stocks`30/36`	0	4,950	6,599	3,514	2,640	4,369	2,389	5,699	8,039	3,644	-	-	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	8,985	22,586	36,973	23,507	33,198	34,013	36,953	24,790	26,098	8,347	8,642	-	-	10	9,034	6,892	7,520	-	3,089	322
Trade receivables`40`	8,341	21,198	36,397	21,878	32,212	33,759	36,953	24,790	17,985	7,993	8,642	-	-	-	-	-	-	-	-	-
Other amounts receivable`41`	644	1,388	576	1,628	986	254	-	-	8,113	353	-	-	-	10	9,034	6,892	7,520	-	3,089	322
Cash at bank and in hand`54/58`	27,332	462,541	225,870	64,876	11,861	21,196	12,054	141,385	26,700	108,922	6,221	10,036	350	4,660	3,417	33,108	2,106	4,799	16,823	4,703
Deferred charges and accrued income`490/1`	998	1,215	4,679	1,322	1,288	1,293	1,284	1,254	-	-	-	-	-	4,702	4,928	-	-	983	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	6.8m	7.4m	7.5m	7.6m	7.8m	8.2m	9.7m	10.5m	10.7m	10.9m	4.2m	2.9m	2.9m	3.0m	3.2m	3.3m	448,647	459,743	497,834	522,728
Equity`10/15`	5.2m	5.3m	5.4m	5.5m	5.5m	5.6m	6.4m	6.4m	6.3m	6.3m	2.4m	1.5m	1.6m	1.6m	1.6m	1.7m	251,368	248,689	143,335	155,138
Contributions`10/11`	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	1.3m	322,300	322,300	322,300	322,300	322,300	322,300	322,262	322,262	322,262
Capital`10`	5.0m	5.0m	5.0m	5.0m	5.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	1.3m	322,300	322,300	322,300	322,300	322,300	322,300	322,262	322,262	322,262
Reserves`13`	1.1m	1.2m	1.2m	1.3m	1.4m	1.4m	1.4m	1.4m	1.3m	1.3m	1.3m	1.4m	1.4m	1.5m	1.5m	1.6m	-	-	-	-
Non-distributable reserves`130/1`	68,981	68,981	68,981	68,981	68,981	68,981	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	68,981	68,981	68,981	68,981	68,981	68,981	68,981	61,963	37,808	11,164	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	963,891	1.0m	1.1m	1.1m	1.2m	1.2m	1.2m	1.3m	1.2m	1.3m	1.3m	1.4m	1.4m	1.5m	1.5m	1.6m	-	-	-	-
Distributable reserves`133`	100,900	100,900	100,900	100,900	100,900	100,900	100,900	52,557	52,007	25,774	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-978,044	-839,758	-833,263	-833,768	-843,721	-853,758	-	-	-	-	-175,331	-186,731	-179,055	-170,696	-218,995	-178,791	-70,932	-73,573	-178,927	-167,124
Provisions and deferred taxes`16`	321,297	339,833	358,370	376,906	395,443	413,979	511,752	533,684	638,452	663,654	688,856	714,058	739,260	764,462	789,664	814,866	-	-	-	-
Deferred taxes`168`	321,297	339,833	358,370	376,906	395,443	413,979	511,752	533,684	638,452	663,654	688,856	714,058	739,260	764,462	789,664	814,866	-	-	-	-
Amounts payable`17/49`	1.4m	1.7m	1.7m	1.7m	1.9m	2.2m	2.8m	3.5m	3.7m	3.9m	1.1m	617,562	623,441	647,346	726,892	737,809	197,280	211,054	354,500	367,591
Amounts payable after more than one year`17`	-	-	-	1,000	1,000	1,000	1,000	-	-	-	-	565,747	610,960	640,960	720,960	-	-	-	-	-
Financial debts`170/4`	-	-	-	-	-	-	-	-	-	-	-	565,747	610,960	-	-	-	-	-	-	-
Other amounts payable`178/9`	-	-	-	1,000	1,000	1,000	1,000	-	-	-	-	-	-	640,960	720,960	-	-	-	-	-
Amounts payable within one year`42/48`	1.4m	1.7m	1.7m	1.7m	1.9m	2.2m	2.8m	3.5m	3.7m	3.9m	1.1m	50,000	12,481	6,386	5,932	737,809	197,280	211,054	354,500	367,591
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	-	50,000	-	-	-	-	-	-	-	-
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	50,000	-	-	-	-	-	-	-	-
Trade debts`44`	9,136	23,328	31,502	33,138	29,652	33,316	50,741	52,199	93,199	75,963	39,027	-	-	2,154	4,928	-	2,912	-	454	4,687
Suppliers`440/4`	9,136	23,328	31,502	33,138	29,652	33,316	50,741	52,199	93,199	75,963	39,027	-	-	2,154	4,928	-	2,912	-	454	4,687
Advances received on contracts in progress`46`	-	-	462	9,538	6,196	403	1,054	2,270	3,552	1,502	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	6,040	14,618	13,517	13,194	8,121	12,848	10,401	20,056	9,611	16,691	5,422	-	-	3,398	-	-	2,303	8,426	3,750	366
Taxes`450/3`	-	-	-	-	-	462	481	11,191	372	322	-	-	-	3,398	-	-	2,303	8,426	3,750	366
Remuneration and social security`454/9`	6,040	14,618	13,517	13,194	8,121	12,386	9,920	8,864	9,239	16,368	5,422	-	-	-	-	-	-	-	-	-
Other amounts payable`47/48`	1.3m	1.7m	1.7m	1.7m	1.9m	2.1m	2.7m	3.4m	3.6m	3.8m	1.1m	-	12,481	834	1,004	737,809	192,064	202,629	350,295	362,537
Accrued charges and deferred income`492/3`	13,846	16,630	16,817	19,595	22,766	26,260	-	35,277	-	41,132	10,011	1,815	-	-	-	-	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	4,959	-	2.5m	-	-	-	-
Gross operating margin`9900`	280,510	471,443	493,254	516,712	530,632	588,818	729,695	1.1m	1.2m	653,804	-25,181	18,219	16,039	69,002	-9,876	-68,479	35,015	174,936	64,163	64,373
Remuneration, social security and pensions`62`	69,866	129,249	127,735	130,544	130,013	110,372	103,780	82,564	126,176	99,816	21,158	-	-	-	-	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	328,271	327,440	323,177	331,346	341,560	370,050	372,974	370,972	366,308	328,097	-	97,386	97,386	97,386	102,645	112,481	14,940	45,036	39,781	39,781
Other operating charges`640/8`	26,537	32,594	48,915	29,172	33,452	50,399	67,384	44,196	43,707	10,336	2,730	2,339	1,157	2,153	1,742	1,169	5,166	8,335	3,576	6,272
Non-recurring operating charges`66A`	-	-	-	-	-	885,177	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	-144,164	-17,839	-6,573	25,651	25,606	-827,179	185,558	555,711	639,983	215,555	-49,070	-81,507	-82,504	-30,537	-114,263	-182,129	14,909	121,564	20,806	18,319
Financial income`75/76B`	174	1,001	1,200	16	870	5,912	360	395	2,929	34,938	7,300	-	-	2	24	217	10	11	7	6
Recurring financial income`75`	174	1,001	1,200	16	870	5,912	360	395	2,929	34,938	7,300	-	-	2	24	217	10	11	7	6
Financial charges`65/66B`	68,442	63,802	68,268	89,859	90,585	106,636	109,241	139,456	159,126	101,051	20,977	315	-	270	110	93	12,212	16,221	32,845	134
Recurring financial charges`65`	68,442	63,802	68,268	89,859	90,585	106,636	109,241	139,456	159,126	101,051	20,977	315	-	270	110	93	12,212	16,221	32,845	134
Profit (loss) for the period before taxes`9903`	-212,432	-80,640	-73,641	-64,192	-64,109	-927,904	76,677	416,650	483,786	149,442	-62,746	-81,821	-82,504	-25,846	-114,349	2.3m	2,707	105,354	-12,032	18,191
Transfer from deferred taxes`780`	18,536	18,536	18,536	18,536	18,536	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	-	-	-	-	-	-	10,462	10,091	25,054	319	-	-	-	-	-	-	28	-	-229	-
Profit (loss) for the period`9904`	-193,895	-62,103	-55,104	-45,656	-45,572	-909,368	88,147	428,492	483,934	174,326	-37,544	-56,619	-57,302	-644	-89,147	1.5m	2,679	105,354	-11,803	18,191
Transfer from tax-exempt reserves`789`	55,609	55,609	55,609	55,609	55,609	55,609	52,213	52,213	48,943	48,943	48,943	48,943	48,943	48,943	48,943	48,944	-	-	-	-
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.6m	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	-138,286	-6,494	505	9,953	10,037	-853,758	140,361	480,705	532,878	223,269	11,399	-7,676	-8,358	48,299	-40,204	-107,859	2,679	105,354	-11,803	18,191
Appropriation of the result
Profit (loss) to be appropriated`9906`	-978,044	-839,758	-833,263	-833,768	-843,721	-853,758	140,361	480,705	532,878	47,938	-175,331	-186,731	-179,055	-170,696	-218,995	-178,791	-70,894	-73,573	-178,927	-167,124
Profit (loss) brought forward from the previous period`14P`	-839,758	-833,263	-833,768	-843,721	-853,758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	55,361	24,705	52,878	36,938	-	-	-	-	-	-	38	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	7,018	24,155	26,644	11,164	-	-	-	-	-	-	-	-	-	-
To other reserves`6921`	-	-	-	-	-	-	48,343	550	26,234	25,774	-	-	-	-	-	-	38	-	-	-
Profit to be distributed`694/7`	-	-	-	-	-	-	85,000	456,000	480,000	11,000	-	-	-	-	-	-	-	-	-	-
Directors or managers`695`	-	-	-	-	-	-	85,000	456,000	480,000	11,000	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	2.2	3.2	3	3	3	2.7	2.5	2.1	3	2.3	0.6	-	-	-	-	-	-	-	-	-
Hours worked`1013`	2,959	5,281	4,997	5,262	5,237	4,552	4,361	3,409	4,829	3,889	950	-	-	-	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 7 older financial years (1999-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 15 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 16-06-2026.

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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	16-06-2026	2026-00165527	PDF
31-12-2024	abbreviated format	30-06-2025	2025-00202156	PDF
31-12-2023	abbreviated format	05-06-2024	2024-00110918	PDF
31-12-2022	abbreviated format	15-06-2023	2023-00128477	PDF
31-12-2021	abbreviated format	26-07-2022	2022-20223852	PDF
31-12-2020	abbreviated format	22-07-2021	2021-38800272	PDF
31-12-2019	abbreviated format	10-07-2020	2020-28600287	PDF
31-12-2018	abbreviated format	23-07-2019	2019-37000035	PDF
31-12-2017	abbreviated format	18-06-2018	2018-19800370	PDF
31-12-2016	abbreviated format	06-07-2017	2017-28400452	PDF
31-12-2015	abbreviated format	29-06-2016	2016-24600260	PDF
31-12-2014	abbreviated format	09-06-2015	2015-15700218	PDF
31-12-2013	abbreviated format	30-08-2014	2014-57400468	PDF
31-12-2012	abbreviated format	04-07-2013	2013-28400048	PDF
31-12-2011	abbreviated format	05-07-2012	2012-26800435	PDF
31-12-2010	abbreviated format	13-09-2011	2011-54600396	PDF
31-12-2009	abbreviated format	30-07-2010	2010-38800547	PDF
31-12-2008	abbreviated format	03-06-2009	2009-18200192	PDF
31-12-2007	abbreviated format	28-05-2008	2008-16500200	PDF
31-12-2006	abbreviated format	04-06-2007	2007-18000106	PDF
31-12-2005	abbreviated format	31-05-2006	2006-18104949	PDF
31-12-2004	abbreviated format	08-06-2005	2005-22500435	PDF
31-12-2003	abbreviated format	18-06-2004	2004-27204116	PDF
31-12-2002	abbreviated format	26-06-2003	2003-31504653	PDF
31-12-2001	abbreviated format	12-06-2002	2002-20102640	PDF
31-12-2000	abbreviated format	19-06-2001	2001-23401844	PDF
31-12-1999	abbreviated format	21-06-2000	2000-24300195	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	184,106	309,601	316,604	356,997	367,167	-457,130	558,532	926,683	1.0m	543,652	-	15,879	14,882	66,849	-11,618	-69,648	29,849	166,601	60,587	58,100
Cash flow	134,375	265,336	268,073	285,690	295,988	-539,318	461,122	799,463	850,242	502,423	-	40,767	40,084	96,742	13,498	1.6m	17,619	150,391	27,978	57,973
Investment in fixed assets (approximation)	230,143	7,906	54,467	47,650	3,244	19,927	43,365	58,682	201,500	6.9m	1.4m	0	-0	0	0	3.3m	-0	21,074	0	-
Change in cash	-435,209	236,671	160,994	53,016	-9,335	9,142	-129,331	114,685	-82,222	102,701	-3,814	9,685	-4,310	1,243	-29,691	31,002	-2,693	-12,023	12,120	-
Working capital	-1.3m	-1.2m	-1.4m	-1.6m	-1.8m	-2.1m	-2.7m	-3.3m	-3.6m	-3.7m	-1.1m	-39,965	-12,131	2,986	11,447	-697,809	-187,653	-205,272	-334,588	-362,566
Solvency	75.3%	72.3%	72.2%	72.0%	70.4%	68.0%	65.9%	61.0%	59.3%	58.0%	57.0%	53.3%	53.7%	53.7%	51.9%	52.6%	56.0%	54.1%	28.8%	29.7%
Current ratio	0.03	0.29	0.16	0.05	0.03	0.03	0.02	0.05	0.02	0.03	0.01	0.20	0.03	1.47	2.93	0.05	0.05	0.03	0.06	0.01
Quick ratio	0.03	0.29	0.16	0.05	0.02	0.03	0.02	0.05	0.01	0.03	0.01	0.20	0.03	1.47	2.93	0.05	0.05	0.03	0.06	0.01
Debt to equity	0.27	0.32	0.32	0.32	0.35	0.40	0.44	0.56	0.58	0.62	0.47	0.41	0.39	0.40	0.44	0.43	0.78	0.85	2.47	2.37
ROE	-3.8%	-1.2%	-1.0%	-0.8%	-0.8%	-16.4%	1.4%	6.7%	7.6%	2.8%	-1.6%	-3.7%	-3.6%	0.0%	-5.4%	85.4%	1.1%	42.4%	-8.2%	11.7%
ROA	-2.8%	-0.8%	-0.7%	-0.6%	-0.6%	-11.1%	0.9%	4.1%	4.5%	1.6%	-0.9%	-2.0%	-1.9%	0.0%	-2.8%	45.0%	0.6%	22.9%	-2.4%	3.5%
Interest coverage	2.69	4.85	4.64	3.97	4.05	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

EBIT margin: not included in this filing.

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	1	3	3	3	3
full-time	1	3	3	3	3
part-time	0	-	-	-	-
in full-time equivalents	1	3	3	3	3
Average over the year, in full-time equivalents	2.2	3.2	2.9	3	3
On a permanent contract	1	3	3	3	3
Joined	2	3	8	4	4
Left	4	3	8	4	4

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€230,143	€7,906	€54,467	€47,650	€3,244
Depreciation and write-downs of the year	€328,271	€327,440	€323,177	€331,346	€341,560

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on WAVE

The operating result for 2025 is a loss of €144,164, larger than the loss of €17,839 in 2024. It is the lowest result since 2020.

Debt's share of the balance-sheet total falls from 23.1% to 20.0%. Equity and debt are lower.

Large changes and their cause

2025 Net result -212% on 2024. The accounts now follow the full format, last year the abbreviated format.

Next steps

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