Above The Waves: what changed
Two financial 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.
Above The Waves
Largest movements
- Cash +€1,936
up €1,936 (+6.8%), from €28,371 to €30,307
mainly Trade debts (+€4,386) and Deferred charges and accrued income (+€1,900)
- Deferred charges and accrued income -€1,900
no longer reported in 2025 (was €1,900)
- Receivables within one year +€1,451
up €1,451 (+32.6%), from €4,455 to €5,906
- Tangible fixed assets +€1,183
new in 2025: €1,183
- Trade debts +€4,386
up €4,386 (+28,027%), from €16 to €4,402
- Tax, wage and social debts -€1,424
no longer reported in 2025 (was €1,424)
- Gross operating margin -€39,680
down €39,680 (-98.2%), from €40,389 to €710
- Taxes -€10,277
down €10,277 (-95.6%), from €10,745 to €468
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.
Derived cash bridge
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 | €34,725 | €37,396 | +€2,670 | +7.7% |
| Fixed assets | 21/28 | - | €1,183 | +€1,183 | |
| Tangible fixed assets | 22/27 | - | €1,183 | +€1,183 | |
| Furniture and vehicles | 24 | - | €1,183 | +€1,183 | |
| Current assets | 29/58 | €34,725 | €36,213 | +€1,488 | +4.3% |
| Amounts receivable within one year | 40/41 | €4,455 | €5,906 | +€1,451 | +32.6% |
| Other amounts receivable | 41 | €4,455 | €5,906 | +€1,451 | +32.6% |
| Cash at bank and in hand | 54/58 | €28,371 | €30,307 | +€1,936 | +6.8% |
| Deferred charges and accrued income | 490/1 | €1,900 | - | -€1,900 | |
| Total equity and liabilities | 10/49 | €34,725 | €37,396 | +€2,670 | +7.7% |
| Equity | 10/15 | €33,286 | €32,994 | -€292 | -0.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,286 | €30,994 | -€292 | -0.9% |
| Amounts payable | 17/49 | €1,440 | €4,402 | +€2,962 | +206% |
| Amounts payable within one year | 42/48 | €1,440 | €4,402 | +€2,962 | +206% |
| Trade debts | 44 | €16 | €4,402 | +€4,386 | +28,027% |
| Suppliers | 440/4 | €16 | €4,402 | +€4,386 | +28,027% |
| Taxes, remuneration and social security | 45 | €1,424 | - | -€1,424 | |
| Taxes | 450/3 | €1,424 | - | -€1,424 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €98 | +€98 | |
| Other operating charges | 640/8 | €687 | €374 | -€313 | -45.6% |
| Gross operating margin | 9900 | €40,389 | €710 | -€39,680 | -98.2% |
| Operating profit (loss) | 9901 | €39,702 | €237 | -€39,465 | -99.4% |
| Financial income | 75/76B | €148 | €107 | -€41 | -27.4% |
| Recurring financial income | 75 | €148 | €107 | -€41 | -27.4% |
| Financial charges | 65/66B | €170 | €168 | -€2 | -0.9% |
| Recurring financial charges | 65 | €170 | €168 | -€2 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €39,680 | €176 | -€39,504 | -99.6% |
| Income taxes | 67/77 | €10,745 | €468 | -€10,277 | -95.6% |
| Profit (loss) for the period | 9904 | €28,935 | -€292 | -€29,227 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,935 | -€292 | -€29,227 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.