BE THE WAVE: 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.
BE THE WAVE
Largest movements
- Cash +€157,333
up €157,333 (+52.7%), from €298,728 to €456,061
mainly Other debts (+€411,478) and Net result for the year (+€181,966)
- Receivables within one year +€47,098
up €47,098 (+126%), from €37,357 to €84,455
- Other debts +€411,478
up €411,478 (+66,093%), from €623 to €412,100
- Reserves -€254,715
down €254,715 (-32.4%), from €786,404 to €531,689
- Tax, wage and social debts +€39,572
up €39,572 (+78.3%), from €50,541 to €90,112
- Gross operating margin -€39,979
down €39,979 (-12.7%), from €313,698 to €273,719
- Taxes -€14,614
down €14,614 (-15.5%), from €94,372 to €79,758
- Staff costs +€7,316
new in 2025: €7,316
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 | €847,902 | €1,049,912 | +€202,009 | +23.8% |
| Fixed assets | 21/28 | €10,599 | €7,891 | -€2,708 | -25.6% |
| Tangible fixed assets | 22/27 | €9,699 | €6,991 | -€2,708 | -27.9% |
| Plant, machinery and equipment | 23 | €1,809 | €1,613 | -€196 | -10.8% |
| Furniture and vehicles | 24 | €4,543 | €2,524 | -€2,019 | -44.4% |
| Other tangible fixed assets | 26 | €3,347 | €2,854 | -€493 | -14.7% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €837,304 | €1,042,021 | +€204,718 | +24.4% |
| Amounts receivable within one year | 40/41 | €37,357 | €84,455 | +€47,098 | +126% |
| Trade receivables | 40 | €37,357 | €84,455 | +€47,098 | +126% |
| Current investments | 50/53 | €499,998 | €499,997 | -€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €298,728 | €456,061 | +€157,333 | +52.7% |
| Deferred charges and accrued income | 490/1 | €1,221 | €1,508 | +€287 | +23.5% |
| Total equity and liabilities | 10/49 | €847,902 | €1,049,912 | +€202,009 | +23.8% |
| Equity | 10/15 | €795,588 | €540,040 | -€255,548 | -32.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €786,404 | €531,689 | -€254,715 | -32.4% |
| Distributable reserves | 133 | €786,404 | €531,689 | -€254,715 | -32.4% |
| Profit (loss) carried forward | 14 | €2,984 | €2,151 | -€833 | -27.9% |
| Amounts payable | 17/49 | €52,314 | €509,871 | +€457,557 | +875% |
| Amounts payable within one year | 42/48 | €52,314 | €509,871 | +€457,557 | +875% |
| Trade debts | 44 | €1,151 | €7,659 | +€6,508 | +565% |
| Suppliers | 440/4 | €1,151 | €7,659 | +€6,508 | +565% |
| Taxes, remuneration and social security | 45 | €50,541 | €90,112 | +€39,572 | +78.3% |
| Taxes | 450/3 | €50,541 | €90,112 | +€39,572 | +78.3% |
| Other amounts payable | 47/48 | €623 | €412,100 | +€411,478 | +66,093% |
| Non-recurring operating income | 76A | €9,428 | - | -€9,428 | |
| Remuneration, social security and pensions | 62 | - | €7,316 | +€7,316 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,750 | €2,708 | -€42 | -1.5% |
| Other operating charges | 640/8 | €1,750 | €528 | -€1,222 | -69.8% |
| Gross operating margin | 9900 | €313,698 | €273,719 | -€39,979 | -12.7% |
| Operating profit (loss) | 9901 | €309,198 | €263,167 | -€46,031 | -14.9% |
| Financial income | 75/76B | €4,633 | €1,667 | -€2,965 | -64.0% |
| Recurring financial income | 75 | €4,633 | €1,667 | -€2,965 | -64.0% |
| Financial charges | 65/66B | €3,239 | €3,110 | -€129 | -4.0% |
| Recurring financial charges | 65 | €3,239 | €3,110 | -€129 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €310,591 | €261,724 | -€48,867 | -15.7% |
| Income taxes | 67/77 | €94,372 | €79,758 | -€14,614 | -15.5% |
| Profit (loss) for the period | 9904 | €216,219 | €181,966 | -€34,253 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €216,219 | €181,966 | -€34,253 | -15.8% |
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 17 October 2026 via checked.be.