Wave Group
ActiveSummary
Wave Group has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €55,668 and a net result of €3,425. Equity is growing by ~21.8% per year across the filed fiscal years. Its solvency ranks better than 17% of 8763 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-2
Solvency38=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 1.08 in 2024; short-term debt: 86.7% and cash: 39% of total assets), and 86.9% of the assets are financed with debt.
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Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.1%
Return on assets
0.8%
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 17% of 8763 sector peers (2025).
NBB · sector comparisonPosition among 8763 sector peers
Solvency
better than 17%
← 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 03-07-2026, 28 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
28 d early
2024
17 d early
2023
29 d late
2022
13 d early
2021
18 d early
2020
11 d early
2019
29 d 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 12 days before the deadline; the sector median for financial year 2024 is 9 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. Usually files around 14 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€55,668▲ 6.6%
2024 · €52,243
Total assets
€425,966▲ 2.7%
2024 · €414,856
Net result
€3,425▼ 71.8%
2024 · €12,132
Working capital
€31,645▲ 10.8%
2024 · €28,549
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€15,548▲ 1,741%€16,441▲ 5.7%€8,871▼ 46.0%€29,588▲ 234%€17,704▼ 40.2%
Net result€11,937within the sector's middle half▲ 2,373%€8,438within the sector's middle half▼ 29.3%€397below the sector's middle half▼ 95.3%€12,132within the sector's middle half▲ 2,955%€3,425within the sector's middle half▼ 71.8%
Equity€31,276within the sector's middle half▲ 61.7%€39,714within the sector's middle half▲ 27.0%€40,111within the sector's middle half▲ 1.0%€52,243within the sector's middle half▲ 30.2%€55,668below the sector's middle half▲ 6.6%
Total assets€194,804within the sector's middle half▲ 79.3%€184,711within the sector's middle half▼ 5.2%€488,813above the sector's middle half▲ 165%€414,856within the sector's middle half▼ 15.1%€425,966within the sector's middle half▲ 2.7%
Debt€163,528▲ 83.1%€144,997▼ 11.3%€448,702▲ 209%€362,613▼ 19.2%€370,298▲ 2.1%
Working capital€29,971within the sector's middle half▲ 66.2%€24,510within the sector's middle half▼ 18.2%€15,920within the sector's middle half▼ 35.0%€28,549within the sector's middle half▲ 79.3%€31,645within the sector's middle half▲ 10.8%
Solvency16.1%below the sector's middle half▼ 1.7pp21.5%below the sector's middle half▲ 5.4pp8.2%below the sector's middle half▼ 13.3pp12.6%below the sector's middle half▲ 4.4pp13.1%below the sector's middle half▲ 0.5pp
Current ratio1.18within the sector's middle half▼ 0.021.17within the sector's middle half▼ 0.011.04within the sector's middle half▼ 0.131.08within the sector's middle half▲ 0.041.09within the sector's middle half▲ 0.01
Return on assets (ROA)6.1%within the sector's middle half▲ 5.7pp4.6%within the sector's middle half▼ 1.6pp0.1%below the sector's middle half▼ 4.5pp2.9%within the sector's middle half▲ 2.8pp0.8%within the sector's middle half▼ 2.1pp
Staff (FTE)1.83.3▲ 83.3%5.7▲ 72.7%5.1above the sector's middle half▼ 10.5%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €425,966
Fixed assets
€24,898 ▲ 5.1%
Current assets
€401,068 ▲ 2.5%
Equity and liabilities €425,966
Equity
€55,668 ▲ 6.6%
Debt
€370,298 ▲ 2.1%
Debt's share of the balance-sheet total falls from 87.4% to 86.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26,501▼
2024 · €38,622
Cash flow
€12,222▼
2024 · €21,166
Debt to equity
6.65▼
2024 · 6.94
ROE
6.2%▼
2024 · 23.2%
Interest coverage
25.40▲
2024 · 15.48
Debt ≤ 1 year
€369,423▲
2024 · €362,613
Income taxes
€13,241▼
2024 · €14,963
Staff costs
€278,978▼
2024 · €318,232
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,273 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 3,273 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €70,230 | €155,177 | €318,232 | €278,978 | ▼ 12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,474 | €5,401 | €9,035 | €8,797 | ▼ 2.6% |
| Other operating charges640/8 | €468 | €542 | €879 | €825 | €726 | ▼ 12.0% |
| Gross operating margin9900 | €16,015 | €88,687 | €170,327 | €357,679 | €306,205 | ▼ 14.4% |
| Operating profit (loss)9901 | €15,548 | €16,441 | €8,871 | €29,588 | €17,704 | ▼ 40.2% |
| Financial income75/76B | €0 | €0 | €0 | €1 | €5 | ▲ 316% |
| Recurring financial income75 | €0 | €0 | €0 | €1 | €5 | ▲ 316% |
| Financial charges65/66B | €122 | €860 | €1,138 | €2,495 | €1,043 | ▼ 58.2% |
| Recurring financial charges65 | €122 | €860 | €1,138 | €2,495 | €1,043 | ▼ 58.2% |
| Profit (loss) for the period before taxes9903 | €15,427 | €15,581 | €7,734 | €27,095 | €16,666 | ▼ 38.5% |
| Income taxes67/77 | €3,489 | €7,143 | €7,336 | €14,963 | €13,241 | ▼ 11.5% |
| Profit (loss) for the period9904 | €11,937 | €8,438 | €397 | €12,132 | €3,425 | ▼ 71.8% |
| Profit (loss) for the period to be appropriated9905 | €11,937 | €8,438 | €397 | €12,132 | €3,425 | ▼ 71.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €194,804 | €184,711 | €488,813 | €414,856 | €425,966 | ▲ 2.7% |
| Fixed assets21/28 | €1,305 | €15,204 | €24,191 | €23,694 | €24,898 | ▲ 5.1% |
| Intangible fixed assets21 | - | - | €927 | €4,898 | €2,550 | ▼ 47.9% |
| Tangible fixed assets22/27 | - | €13,899 | €16,709 | €14,497 | €8,048 | ▼ 44.5% |
| Furniture and vehicles24 | - | €13,899 | €16,709 | €14,497 | €8,048 | ▼ 44.5% |
| Financial fixed assets28 | €1,305 | €1,305 | €6,555 | €4,300 | €14,300 | ▲ 233% |
| Current assets29/58 | €193,499 | €169,507 | €464,622 | €391,162 | €401,068 | ▲ 2.5% |
| Amounts receivable within one year40/41 | €165,413 | €134,923 | €426,166 | €253,566 | €231,348 | ▼ 8.8% |
| Trade receivables40 | €165,413 | €134,915 | €422,775 | €253,561 | €231,348 | ▼ 8.8% |
| Other amounts receivable41 | - | €8 | €3,392 | €5 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €27,811 | €32,039 | €35,309 | €133,904 | €166,181 | ▲ 24.1% |
| Deferred charges and accrued income490/1 | €275 | €2,544 | €3,147 | €3,692 | €3,539 | ▼ 4.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €194,804 | €184,711 | €488,813 | €414,856 | €425,966 | ▲ 2.7% |
| Equity10/15 | €31,276 | €39,714 | €40,111 | €52,243 | €55,668 | ▲ 6.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | €12,676 | €21,114 | €21,511 | €33,643 | €37,068 | ▲ 10.2% |
| Amounts payable17/49 | €163,528 | €144,997 | €448,702 | €362,613 | €370,298 | ▲ 2.1% |
| Amounts payable within one year42/48 | €163,528 | €144,997 | €448,702 | €362,613 | €369,423 | ▲ 1.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €100,000 | - |
| Trade debts44 | €156,865 | €111,430 | €400,042 | €273,590 | €210,597 | ▼ 23.0% |
| Suppliers440/4 | €156,865 | €111,430 | €400,042 | €273,590 | €210,597 | ▼ 23.0% |
| Taxes, remuneration and social security45 | €6,663 | €33,567 | €48,661 | €89,023 | €58,826 | ▼ 33.9% |
| Taxes450/3 | €6,663 | €24,150 | €25,826 | €40,329 | €29,870 | ▼ 25.9% |
| Remuneration and social security454/9 | - | €9,418 | €22,834 | €48,694 | €28,956 | ▼ 40.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €875 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,937 | €8,438 | €397 | €12,132 | €3,425 | ▼ 71.8% |
| + Depreciation and write-downs630 | - | €1,474 | €5,401 | €9,035 | €8,797 | ▼ 2.6% |
| Operating cash flow (approximation) | €11,937 | €9,912 | €5,798 | €21,166 | €12,222 | ▼ 42.3% |
| Investment in fixed assets (approximation) | - | -€15,373 | -€14,388 | -€8,538 | -€10,000 | ▼ 17.1% |
| Change in cash | - | €4,228 | €3,270 | €98,595 | €32,277 | ▼ 67.3% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €12,132 ▲2,955%
Operating result €29,588, net result €12,132, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €480
Net result €480 after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kruisem · 1 establishment unit since 2017
Ground area
1,482 m²
Building footprint
286 m²
Volume, LiDAR
1,371 m³
Parcel 45017C1110/00R000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Wave Group
since 20172.265.183.293
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45017C1110/00R000 | Flanders | 1,482 m² | 1 · 286 m² | 8.1 m · 2 fl. |
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.
Structure & network
Owners and holdings
5 owners · 1 holdingOwners 5
- Gerdy Dezutternatural personSourceown accounts 2025share not stated
- Kenneth Van der Elstnatural personSourceown accounts 2025share not stated
- Mieke Vandeputtenatural personSourceown accounts 2025share not stated
- Sarah Devosnatural personSourceown accounts 2025share not stated
- Tom Van Varenberghnatural personSourceown accounts 2025share not stated
Holdings 1
-
100%
According to the 2025 annual accounts of Wave Group and those 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
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 3 entries · 4,084 EUR awarded · 4,085 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,860 EUR | 2,408 EUR |
| 2024 | 2 | 2,224 EUR | 1,677 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 38,639 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
Founded15-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
66199Other activities auxiliary to financial services, excluding insurance and pension funding
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0675705067
Also
9925:BE0675705067
Registered
30-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.