1wAVe: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
1wAVe
Largest movements
- Receivables within one year +€34,412
up €34,412 (+46.0%), from €74,730 to €109,142
of which Trade receivables: +€41,683
- Cash +€9,626
up €9,626 (+10.8%), from €89,279 to €98,905
mainly Net result for the year (+€53,382) and Tax, wage and social debts (+€26,434)
- Tangible fixed assets +€3,494
up €3,494 (+46.0%), from €7,595 to €11,088
of which Plant, machinery and equipment: +€4,138
- Profit (loss) carried forward +€53,382
up €53,382 (+89.9%), from €59,354 to €112,736
- Trade debts -€41,591
down €41,591 (-74.6%), from €55,781 to €14,190
- Tax, wage and social debts +€26,434
up €26,434 (+72.9%), from €36,258 to €62,693
of which Taxes: +€21,365
- Current portion of long-term debt +€10,000
new in 2025: €10,000
- Gross operating margin +€107,774
up €107,774 (+629.4%), from €17,124 to €124,897
- Staff costs +€28,264
up €28,264 (+160.2%), from €17,648 to €45,912
- Taxes +€15,409
up €15,409 (+713.4%), from €2,160 to €17,569
- Financial charges +€1,921
up €1,921 (+151.0%), from €1,272 to €3,193
- Depreciation +€1,338
up €1,338 (+50.6%), from €2,644 to €3,982
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,853 | €220,078 | +€48,225 | +28.1% |
| Fixed assets | 21/28 | €7,845 | €11,338 | +€3,494 | +44.5% |
| Tangible fixed assets | 22/27 | €7,595 | €11,088 | +€3,494 | +46.0% |
| Plant, machinery and equipment | 23 | €3,086 | €7,223 | +€4,138 | +134.1% |
| Furniture and vehicles | 24 | €4,509 | €3,865 | -€644 | -14.3% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €164,008 | €208,740 | +€44,731 | +27.3% |
| Amounts receivable within one year | 40/41 | €74,730 | €109,142 | +€34,412 | +46.0% |
| Trade receivables | 40 | €63,625 | €105,308 | +€41,683 | +65.5% |
| Other amounts receivable | 41 | €11,105 | €3,834 | -€7,271 | -65.5% |
| Cash at bank and in hand | 54/58 | €89,279 | €98,905 | +€9,626 | +10.8% |
| Deferred charges and accrued income | 490/1 | - | €693 | +€693 | |
| Total equity and liabilities | 10/49 | €171,853 | €220,078 | +€48,225 | +28.1% |
| Equity | 10/15 | €79,814 | €133,196 | +€53,382 | +66.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,354 | €112,736 | +€53,382 | +89.9% |
| Amounts payable | 17/49 | €92,039 | €86,882 | -€5,157 | -5.6% |
| Amounts payable within one year | 42/48 | €92,039 | €86,882 | -€5,157 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €55,781 | €14,190 | -€41,591 | -74.6% |
| Suppliers | 440/4 | €55,781 | €14,190 | -€41,591 | -74.6% |
| Taxes, remuneration and social security | 45 | €36,258 | €62,693 | +€26,434 | +72.9% |
| Taxes | 450/3 | €36,258 | €57,624 | +€21,365 | +58.9% |
| Remuneration and social security | 454/9 | - | €5,069 | +€5,069 | |
| Remuneration, social security and pensions | 62 | €17,648 | €45,912 | +€28,264 | +160.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,644 | €3,982 | +€1,338 | +50.6% |
| Other operating charges | 640/8 | €1,887 | €1,422 | -€465 | -24.7% |
| Gross operating margin | 9900 | €17,124 | €124,897 | +€107,774 | +629.4% |
| Operating profit (loss) | 9901 | -€5,056 | €73,582 | +€78,637 | |
| Financial income | 75/76B | €1,075 | €562 | -€513 | -47.7% |
| Recurring financial income | 75 | €1,075 | €562 | -€513 | -47.7% |
| Financial charges | 65/66B | €1,272 | €3,193 | +€1,921 | +151.0% |
| Recurring financial charges | 65 | €1,272 | €3,193 | +€1,921 | +151.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,253 | €70,951 | +€76,203 | |
| Income taxes | 67/77 | €2,160 | €17,569 | +€15,409 | +713.4% |
| Profit (loss) for the period | 9904 | -€7,412 | €53,382 | +€60,794 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,412 | €53,382 | +€60,794 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.