WAVEMAKER
InactiveFinancials · financial year 2025, full format
Turnover
€129.0m▲ 14.7%
2024 · €112.4m
EBIT margin
-2.0%▼ 2.8pp
2024 · 0.9%
Net result
-€1.5m
2024 · €1.3m
Working capital
€153,564▼ 82.1%
2024 · €858,183
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €2.5m after €960,364 in 2024, the lowest 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.
Turnover€129.0m
2025
Operating result-€2.5m
2025
Net result-€1.5m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€50.4m
2025
Equity-€0.6m
2025
Debt€50.2m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.2m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-2.0%
2025
Return on assets (ROA)-3.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-1.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.00
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)56.9
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations 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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€42.1m-€59.3m▲ 40.9%€60.0m▲ 1.2%€67.6m▲ 12.6%€68.6m▲ 1.5%€90.5m▲ 31.9%€112.4m▲ 24.3%€129.0m▲ 14.7%
Operating result-€0.7m--€0.4m▲ 37.8%-€0.3m▲ 37.7%-€0.3m▼ 6.0%-€0.2m▲ 11.1%€0.3m€1.0m▲ 184%-€2.5m
Net result-€0.5m--€0.1m▲ 68.7%-€0.05mbelow the sector's middle half▲ 62.6%€0.008mwithin the sector's middle half€0.003mwithin the sector's middle half▼ 58.0%€0.7mabove the sector's middle half▲ 20,419%€1.3mabove the sector's middle half▲ 83.8%-€1.5mbelow the sector's middle half
EBIT margin-1.6%--0.7%▲ 0.9pp-0.4%▲ 0.3pp-0.4%=-0.4%=0.4%▲ 0.7pp0.9%▲ 0.5pp-2.0%▼ 2.8pp
Equity€0.06m--€0.08m-€0.1mbelow the sector's middle half▼ 65.4%-€0.1mbelow the sector's middle half▲ 6.1%-€0.1mbelow the sector's middle half▲ 2.7%€0.6mwithin the sector's middle half€0.9mwithin the sector's middle half▲ 51.3%-€0.6mbelow the sector's middle half
Total assets€20.9m-€38.6m▲ 84.8%€30.8mabove the sector's middle half▼ 20.1%€44.2mabove the sector's middle half▲ 43.5%€36.7mabove the sector's middle half▼ 16.9%€48.1mabove the sector's middle half▲ 30.9%€43.5mabove the sector's middle half▼ 9.5%€50.4mabove the sector's middle half▲ 15.8%
Debt€20.8m-€38.7m▲ 85.7%€30.9m▼ 20.0%€44.3m▲ 43.2%€36.8m▼ 16.9%€47.5m▲ 28.9%€42.6m▼ 10.2%€50.2m▲ 17.7%
Working capital-€0.2m--€0.2m▲ 20.6%-€0.3mbelow the sector's middle half▼ 44.9%-€0.2mbelow the sector's middle half▲ 31.0%-€0.2mbelow the sector's middle half▲ 6.6%€0.6mwithin the sector's middle half€0.9mabove the sector's middle half▲ 53.9%€0.2mwithin the sector's middle half▼ 82.1%
Solvency0.3%--0.2%▼ 0.5pp-0.4%below the sector's middle half▼ 0.2pp-0.3%below the sector's middle half▲ 0.2pp-0.3%below the sector's middle half=1.2%below the sector's middle half▲ 1.6pp2.0%below the sector's middle half▲ 0.8pp-1.3%below the sector's middle half▼ 3.3pp
Current ratio0.99-1.00▲ 0.010.99within the sector's middle half=1.00within the sector's middle half=1.00within the sector's middle half=1.01within the sector's middle half▲ 0.021.02within the sector's middle half▲ 0.011.00within the sector's middle half▼ 0.02
Return on assets (ROA)-2.2%--0.4%▲ 1.8pp-0.2%within the sector's middle half▲ 0.2pp0.0%within the sector's middle half▲ 0.2pp0.0%within the sector's middle half=1.5%within the sector's middle half▲ 1.5pp3.0%within the sector's middle half▲ 1.5pp-3.0%below the sector's middle half▼ 6.0pp
Staff (FTE)34.5-34.9▲ 1.2%33.8above the sector's middle half▼ 3.2%35.8above the sector's middle half▲ 5.9%38.2above the sector's middle half▲ 6.7%43.1above the sector's middle half▲ 12.8%52.6above the sector's middle half▲ 22.0%56.9above the sector's middle half▲ 8.2%
above
within
below
the middle half of NACE 73, Advertising, market research and public relations 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €50.4m
Fixed assets
€62,746 ▲ 127%
Current assets
€50.3m ▲ 15.8%
Equity and liabilities
Equity-€644,932
Debt€50.2m
Equity is negative: debt (€50.2m) exceeds the balance-sheet total (€50.4m).
Key figures and ratios
EBITDA
-€2.5m
Cash flow
-€1.5m
Interest coverage
-55.69
Debt ≤ 1 year
€50.2m▲
2024 · €42.6m
Income taxes
-€3,348▼
2024 · €529,835
Staff costs
€4.8m▲
2024 · €4.3m
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €67.8m | €68.7m | €90.7m | €112.6m | €129.2m | ▲ 14.8% |
| Turnover70 | €42.1m | €59.3m | €60.0m | €67.6m | €68.6m | €90.5m | €112.4m | €129.0m | ▲ 14.7% |
| Other operating income74 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 44.9% |
| Operating charges60/66A | - | - | - | €68.0m | €69.0m | €90.4m | €111.6m | €131.7m | ▲ 18.0% |
| Goods for resale, raw materials and consumables60 | - | - | - | €63.0m | €63.5m | €83.4m | €103.2m | €120.8m | ▲ 17.0% |
| Purchases600/8 | - | - | - | €63.0m | €63.5m | €83.4m | €103.2m | €120.8m | ▲ 17.0% |
| Services and other goods61 | - | - | - | €2.3m | €2.5m | €3.3m | €4.1m | €5.3m | ▲ 30.7% |
| Remuneration, social security and pensions62 | - | - | - | €2.6m | €2.9m | €3.6m | €4.3m | €4.8m | ▲ 10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.09m | €0.07m | €0.06m | €0.03m | €0.03m | - | €0.002m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.02m | -€0.02m | - | - | €0.9m | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.003m | €0.003m | €0.006m | €0.005m | ▼ 24.9% |
| Non-recurring operating charges66A | - | - | - | €0.009m | - | - | - | - | - |
| Operating profit (loss)9901 | -€0.7m | -€0.4m | -€0.3m | -€0.3m | -€0.2m | €0.3m | €1.0m | -€2.5m | ▼ 362% |
| Financial income75/76B | - | - | - | €0.3m | €0.3m | €0.4m | €0.9m | €1.0m | ▲ 9.5% |
| Recurring financial income75 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.9m | €1.0m | ▲ 9.5% |
| Income from current assets751 | - | - | - | €0.09m | €0.04m | €0.1m | €0.3m | €0.2m | ▼ 39.9% |
| Other financial income752/9 | - | - | - | €0.2m | €0.3m | €0.3m | €0.7m | €0.9m | ▲ 28.7% |
| Financial charges65/66B | - | - | - | €0.05m | €0.04m | €0.05m | €0.07m | €0.05m | ▼ 37.1% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.05m | €0.05m | €0.04m | €0.05m | €0.07m | €0.05m | ▼ 37.1% |
| Debt charges650 | €0.02m | €0.01m | €0.02m | €0.02m | €0.02m | €0.03m | €0.04m | €0.05m | ▲ 19.7% |
| Other financial charges652/9 | - | - | - | €0.04m | €0.02m | €0.02m | €0.03m | €499 | ▼ 98.6% |
| Profit (loss) for the period before taxes9903 | -€0.4m | -€0.1m | -€0.05m | €0.01m | €0.01m | €0.7m | €1.8m | -€1.5m | ▼ 184% |
| Income taxes67/77 | €0.009m | €0.008m | €0.005m | €0.005m | €0.006m | €0.007m | €0.5m | -€0.003m | ▼ 101% |
| Taxes670/3 | - | - | - | €0.005m | €0.006m | €0.007m | €0.5m | €0.006m | ▼ 98.9% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | - | - | - | €0.009m | - |
| Profit (loss) for the period9904 | -€0.5m | -€0.1m | -€0.05m | €0.008m | €0.003m | €0.7m | €1.3m | -€1.5m | ▼ 218% |
| Profit (loss) for the period to be appropriated9905 | -€0.5m | -€0.1m | -€0.05m | €0.008m | €0.003m | €0.7m | €1.3m | -€1.5m | ▼ 218% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €20.9m | €38.6m | €30.8m | €44.2m | €36.7m | €48.1m | €43.5m | €50.4m | ▲ 15.8% |
| Formation expenses20 | €0.01m | €0.01m | €0.007m | - | - | - | - | - | - |
| Fixed assets21/28 | €0.3m | €0.2m | €0.1m | €0.08m | €0.05m | €0.03m | €0.03m | €0.06m | ▲ 127% |
| Intangible fixed assets21 | €0.1m | €0.1m | €0.07m | €0.05m | €0.02m | - | - | - | - |
| Tangible fixed assets22/27 | €0.1m | €0.08m | €0.04m | €0.001m | €75 | - | - | €0.03m | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €75 | - | - | €0.03m | - |
| Financial fixed assets28 | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 31.4% |
| Other financial fixed assets284/8 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 31.4% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 31.4% |
| Current assets29/58 | €20.6m | €38.4m | €30.7m | €44.1m | €36.7m | €48.0m | €43.5m | €50.3m | ▲ 15.8% |
| Amounts receivable within one year40/41 | €20.5m | €38.2m | €30.6m | €44.1m | €36.6m | €48.0m | €43.4m | €50.3m | ▲ 15.7% |
| Trade receivables40 | - | - | - | €38.2m | €31.4m | €40.7m | €39.1m | €48.4m | ▲ 23.9% |
| Other amounts receivable41 | - | - | - | €6.0m | €5.2m | €7.4m | €4.3m | €1.8m | ▼ 57.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.007m | €0.03m | €0.02m | €0.04m | €0.05m | ▲ 31.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €20.9m | €38.6m | €30.8m | €44.2m | €36.7m | €48.1m | €43.5m | €50.4m | ▲ 15.8% |
| Equity10/15 | €0.06m | -€0.08m | -€0.1m | -€0.1m | -€0.1m | €0.6m | €0.9m | -€0.6m | ▼ 173% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Uncalled capital101 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.8m | - | - | - |
| Profit (loss) carried forward14 | -€0.9m | -€1.0m | -€1.1m | -€1.1m | -€1.1m | -€0.4m | €0.7m | -€0.8m | ▼ 210% |
| Provisions and deferred taxes16 | - | - | - | €0.02m | - | - | - | €0.9m | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.02m | - | - | - | €0.9m | - |
| Other liabilities and charges164/5 | - | - | - | €0.02m | - | - | - | €0.9m | - |
| Amounts payable17/49 | €20.8m | €38.7m | €30.9m | €44.3m | €36.8m | €47.5m | €42.6m | €50.2m | ▲ 17.7% |
| Amounts payable within one year42/48 | €20.8m | €38.6m | €30.9m | €44.3m | €36.8m | €47.5m | €42.6m | €50.2m | ▲ 17.7% |
| Trade debts44 | €6.4m | €21.1m | €13.9m | €25.8m | €21.2m | €28.2m | €10.4m | €25.1m | ▲ 141% |
| Suppliers440/4 | - | - | - | €25.8m | €21.2m | €28.2m | €10.4m | €25.1m | ▲ 141% |
| Advances received on contracts in progress46 | - | - | - | €0.8m | €0.6m | €0.8m | €1.6m | €1.2m | ▼ 21.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.6m | €0.6m | €0.8m | €1.1m | €1.1m | ▼ 0.5% |
| Taxes450/3 | - | - | - | €0.1m | €0.1m | €0.1m | €0.4m | €0.4m | ▼ 1.0% |
| Remuneration and social security454/9 | - | - | - | €0.5m | €0.5m | €0.7m | €0.7m | €0.7m | ▼ 0.3% |
| Other amounts payable47/48 | - | - | - | €17.1m | €14.4m | €17.7m | €29.5m | €22.7m | ▼ 23.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.5m | -€0.1m | -€0.05m | €0.008m | €0.003m | €0.7m | €1.3m | -€1.5m | ▼ 218% |
| + Depreciation and write-downs630 | €0.1m | €0.09m | €0.07m | €0.06m | €0.03m | €0.03m | - | €0.002m | - |
| Operating cash flow (approximation) | -€0.4m | -€0.06m | €0.02m | €0.07m | €0.03m | €0.7m | €1.3m | -€1.5m | ▼ 218% |
| Investment in fixed assets (approximation) | - | -€0.003m | -€0.004m | €270 | €0 | -€0.001m | €0 | -€0.04m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of the 9,848 companies in this sector, figures are known for 3,817. 370 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector