WAVECO
ActiveSummary
WAVECO has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €426,679 and a net result of €19,911. Equity remains stable across the filed financial years (±0.4% per year). Its solvency ranks better than 92% of 39,152 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, micro format
Turnover
≈ €110,000
Estimated: probably between €52,000 and €230,000
Total assets
€458,238▲ 2.6%
2024 · €446,531
Net result
€19,911▲ 38.1%
2024 · €14,418
Working capital
€74,074▼ 0.5%
2024 · €74,431
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result returns to profit in 2025: €15,236 after a loss of €11,296 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€15,236
2025
Net result€19,911
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€458,238
2025
Equity€426,679
2025
Debt€31,559
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€74,074
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)4.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency93.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.35
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€19,577-€11,838▼ 39.5%€3,534▼ 70.1%€4,575▲ 29.5%-€578-€11,296▼ 1,855%€15,236
Net result€24,481-€16,546within the sector's middle half▼ 32.4%€4,757within the sector's middle half▼ 71.2%€2,759within the sector's middle half▼ 42.0%€44,520within the sector's middle half▲ 16×€14,418within the sector's middle half▼ 67.6%€19,911within the sector's middle half▲ 38.1%
Equity€414,038-€430,584above the sector's middle half▲ 4.0%€435,341above the sector's middle half▲ 1.1%€438,100above the sector's middle half▲ 0.6%€420,635above the sector's middle half▼ 4.0%€434,195above the sector's middle half▲ 3.2%€426,679above the sector's middle half▼ 1.7%
Total assets€455,535-€532,429above the sector's middle half▲ 16.9%€514,185above the sector's middle half▼ 3.4%€489,937within the sector's middle half▼ 4.7%€516,018above the sector's middle half▲ 5.3%€446,531within the sector's middle half▼ 13.5%€458,238above the sector's middle half▲ 2.6%
Debt€41,497-€101,845▲ 145%€78,844▼ 22.6%€51,838▼ 34.3%€95,382▲ 84.0%€12,337▼ 87.1%€31,559▲ 156%
Working capital€48,872-€58,931within the sector's middle half▲ 20.6%€64,093within the sector's middle half▲ 8.8%€63,162within the sector's middle half▼ 1.5%€46,012within the sector's middle half▼ 27.2%€74,431within the sector's middle half▲ 61.8%€74,074within the sector's middle half▼ 0.5%
Solvency90.9%-80.9%above the sector's middle half▼ 10.0pp84.7%above the sector's middle half▲ 3.8pp89.4%above the sector's middle half▲ 4.8pp81.5%above the sector's middle half▼ 7.9pp97.2%above the sector's middle half▲ 15.7pp93.1%above the sector's middle half▼ 4.1pp
Current ratio2.21-3.00within the sector's middle half▲ 0.783.29within the sector's middle half▲ 0.303.80within the sector's middle half▲ 0.501.52within the sector's middle half▼ 2.287.03above the sector's middle half▲ 5.513.35within the sector's middle half▼ 3.69
Return on assets (ROA)5.4%-3.1%within the sector's middle half▼ 2.3pp0.9%below the sector's middle half▼ 2.2pp0.6%below the sector's middle half▼ 0.4pp8.6%within the sector's middle half▲ 8.1pp3.2%within the sector's middle half▼ 5.4pp4.3%within the sector's middle half▲ 1.1pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €458,238
Fixed assets
€352,604 ▼ 2.0%
Current assets
€105,633 ▲ 21.7%
Equity and liabilities €458,238
Equity
€426,679 ▼ 1.7%
Debt
€31,559 ▲ 156%
Debt's share of the balance-sheet total rises from 2.8% to 6.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€22,395▲
2024 · €10,923
Cash flow
€27,070▼
2024 · €36,636
Debt to equity
0.07▲
2024 · 0.03
ROE
4.7%▲
2024 · 3.3%
Interest coverage
over 100▲
2024 · 34.06
Debt ≤ 1 year
€31,559▲
2024 · €12,337
Income taxes
€6,730▲
2024 · €1,668
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,398 | €459 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,716 | €15,060 | €21,805 | €22,094 | €22,218 | €22,218 | €7,159 | ▼ 67.8% |
| Other operating charges640/8 | - | - | - | €1,520 | €1,606 | €2,268 | €1,685 | ▼ 25.7% |
| Gross operating margin9900 | €40,693 | €30,190 | €28,119 | €29,587 | €23,706 | €13,191 | €24,080 | ▲ 82.6% |
| Operating profit (loss)9901 | €19,577 | €11,838 | €3,534 | €4,575 | -€578 | -€11,296 | €15,236 | - |
| Financial income75/76B | - | - | - | €3,549 | €53,358 | €27,702 | €11,506 | ▼ 58.5% |
| Recurring financial income75 | €17,302 | €12,794 | €6,532 | €3,549 | €53,358 | €27,702 | €11,506 | ▼ 58.5% |
| Financial charges65/66B | - | - | - | €845 | €574 | €321 | €102 | ▼ 68.2% |
| Recurring financial charges65 | €601 | €1,201 | €1,065 | €845 | €574 | €321 | €102 | ▼ 68.2% |
| Profit (loss) for the period before taxes9903 | €36,278 | €23,431 | €9,001 | €7,280 | €52,206 | €16,086 | €26,640 | ▲ 65.6% |
| Income taxes67/77 | €11,797 | €6,885 | €4,244 | €4,521 | €7,686 | €1,668 | €6,730 | ▲ 303% |
| Profit (loss) for the period9904 | €24,481 | €16,546 | €4,757 | €2,759 | €44,520 | €14,418 | €19,911 | ▲ 38.1% |
| Profit (loss) for the period to be appropriated9905 | €24,481 | €16,546 | €4,757 | €2,759 | €44,520 | €14,418 | €19,911 | ▲ 38.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €455,535 | €532,429 | €514,185 | €489,937 | €516,018 | €446,531 | €458,238 | ▲ 2.6% |
| Fixed assets21/28 | €366,300 | €443,965 | €422,160 | €404,200 | €381,981 | €359,763 | €352,604 | ▼ 2.0% |
| Tangible fixed assets22/27 | €16,300 | €93,965 | €72,160 | €54,200 | €31,981 | €9,763 | €2,604 | ▼ 73.3% |
| Plant, machinery and equipment23 | - | - | - | €867 | €548 | €229 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €53,333 | €31,433 | €9,534 | €2,604 | ▼ 72.7% |
| Financial fixed assets28 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Current assets29/58 | €89,235 | €88,464 | €92,024 | €85,738 | €134,036 | €86,768 | €105,633 | ▲ 21.7% |
| Amounts receivable within one year40/41 | €80,204 | €67,886 | €58,207 | €55,603 | €112,901 | €60,372 | €71,897 | ▲ 19.1% |
| Trade receivables40 | - | - | - | - | - | €1,249 | €1,264 | ▲ 1.2% |
| Other amounts receivable41 | - | - | - | €55,603 | €112,901 | €59,123 | €70,633 | ▲ 19.5% |
| Cash at bank and in hand54/58 | €9,031 | €19,314 | €33,817 | €22,480 | €19,782 | €19,506 | €33,736 | ▲ 73.0% |
| Deferred charges and accrued income490/1 | - | - | - | €7,654 | €1,354 | €6,890 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €455,535 | €532,429 | €514,185 | €489,937 | €516,018 | €446,531 | €458,238 | ▲ 2.6% |
| Equity10/15 | €414,038 | €430,584 | €435,341 | €438,100 | €420,635 | €434,195 | €426,679 | ▼ 1.7% |
| Contributions10/11 | €368,600 | - | - | €368,600 | €368,600 | €368,600 | €368,600 | = |
| Reserves13 | €45,438 | €61,984 | €66,741 | €69,500 | €52,035 | €65,595 | €58,079 | ▼ 11.5% |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €69,500 | €52,035 | €65,595 | €58,079 | ▼ 11.5% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €41,497 | €101,845 | €78,844 | €51,838 | €95,382 | €12,337 | €31,559 | ▲ 156% |
| Amounts payable after more than one year17 | €1,134 | €72,312 | €50,912 | €29,262 | €7,358 | €0 | - | - |
| Financial debts170/4 | - | - | - | €29,262 | €7,358 | €0 | - | - |
| Amounts payable within one year42/48 | €40,363 | €29,533 | €27,931 | €22,576 | €88,024 | €12,337 | €31,559 | ▲ 156% |
| Current portion of amounts payable after more than one year42 | - | - | - | €21,650 | €21,904 | €7,358 | €0 | ▼ 100% |
| Trade debts44 | €18,852 | €1,495 | €1,611 | €925 | €1,450 | €384 | €1,132 | ▲ 195% |
| Suppliers440/4 | - | - | - | €925 | €1,450 | €384 | €1,132 | ▲ 195% |
| Taxes, remuneration and social security45 | - | - | - | €0 | €2,686 | €3,735 | €3,000 | ▼ 19.7% |
| Taxes450/3 | - | - | - | €0 | €2,686 | €3,735 | €3,000 | ▼ 19.7% |
| Other amounts payable47/48 | - | - | - | - | €61,984 | €859 | €27,426 | ▲ 32× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,481 | €16,546 | €4,757 | €2,759 | €44,520 | €14,418 | €19,911 | ▲ 38.1% |
| + Depreciation and write-downs630 | €16,716 | €15,060 | €21,805 | €22,094 | €22,218 | €22,218 | €7,159 | ▼ 67.8% |
| Operating cash flow (approximation) | €41,198 | €31,605 | €26,562 | €24,852 | €66,738 | €36,636 | €27,070 | ▼ 26.1% |
| Investment in fixed assets (approximation) | - | -€92,725 | €0 | -€4,133 | €0 | €0 | €0 | - |
| Change in cash | - | €10,283 | €14,504 | -€11,337 | -€2,698 | -€276 | €14,230 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | micro format | 11-03-2026 | 2026-00053499 |
| 30-09-2024 | micro format | 25-03-2025 | 2025-00053798 |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00073255 |
| 30-09-2022 | micro format | 21-03-2023 | 2023-00042560 |
| 30-09-2021 | micro format | 24-01-2022 | 2022-01600021 |
| 30-09-2020 | micro format | 05-02-2021 | 2021-04900439 |
| 30-09-2019 | micro format | 21-04-2020 | 2020-09500277 |
| 30-09-2018 | micro format | 02-04-2019 | 2019-08900565 |
| 30-09-2017 | micro format | 09-04-2018 | 2018-09500440 |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-08700221 |
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Of the 82,475 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,350. 36,541 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €991 awarded · €1,214 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €288 | €288 |
| 2024 | 1 | €271 | €267 |
| 2023 | 1 | €213 | €440 |
| 2022 | 1 | €219 | €219 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.