EWAVE: 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.
EWAVE
Largest movements
- Receivables within one year -€28,158
down €28,158 (-72.2%), from €39,021 to €10,863
of which Other amounts receivable: -€15,586
- Financial fixed assets +€25,000
new in 2025: €25,000
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Cash +€22,603
up €22,603 (+27.7%), from €81,697 to €104,299
mainly Other debts (+€157,366) and Net result for the year (+€80,095)
- Tangible fixed assets +€22,574
up €22,574 (+367.8%), from €6,138 to €28,712
of which Furniture and vehicles: +€23,922
- Reserves -€158,140
down €158,140 (-86.3%), from €183,287 to €25,147
- Other debts +€157,366
new in 2025: €157,366
- Tax, wage and social debts +€15,229
up €15,229 (+348.7%), from €4,367 to €19,596
- Trade debts -€2,236
down €2,236 (-95.6%), from €2,339 to €103
- Gross operating margin +€52,590
up €52,590 (+104.3%), from €50,410 to €102,999
- Taxes +€10,417
up €10,417 (+102.2%), from €10,191 to €20,609
- Depreciation +€1,573
up €1,573 (+86.4%), from €1,821 to €3,394
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 | €191,993 | €204,212 | +€12,219 | +6.4% |
| Fixed assets | 21/28 | €6,138 | €53,712 | +€47,574 | +775.1% |
| Tangible fixed assets | 22/27 | €6,138 | €28,712 | +€22,574 | +367.8% |
| Plant, machinery and equipment | 23 | €2,811 | €1,637 | -€1,173 | -41.8% |
| Furniture and vehicles | 24 | €1,798 | €25,720 | +€23,922 | +1330.5% |
| Other tangible fixed assets | 26 | €1,529 | €1,355 | -€175 | -11.4% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €185,856 | €150,501 | -€35,355 | -19.0% |
| Amounts receivable after more than one year | 29 | €40,138 | €35,138 | -€5,000 | -12.5% |
| Other amounts receivable | 291 | €40,138 | €35,138 | -€5,000 | -12.5% |
| Amounts receivable within one year | 40/41 | €39,021 | €10,863 | -€28,158 | -72.2% |
| Trade receivables | 40 | €23,435 | €10,863 | -€12,572 | -53.6% |
| Other amounts receivable | 41 | €15,586 | - | -€15,586 | |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €81,697 | €104,299 | +€22,603 | +27.7% |
| Deferred charges and accrued income | 490/1 | - | €200 | +€200 | |
| Total equity and liabilities | 10/49 | €191,993 | €204,212 | +€12,219 | +6.4% |
| Equity | 10/15 | €185,287 | €27,147 | -€158,140 | -85.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €183,287 | €25,147 | -€158,140 | -86.3% |
| Distributable reserves | 133 | €183,287 | €25,147 | -€158,140 | -86.3% |
| Amounts payable | 17/49 | €6,706 | €177,065 | +€170,359 | +2540.4% |
| Amounts payable within one year | 42/48 | €6,706 | €177,065 | +€170,359 | +2540.4% |
| Trade debts | 44 | €2,339 | €103 | -€2,236 | -95.6% |
| Suppliers | 440/4 | €2,339 | €103 | -€2,236 | -95.6% |
| Taxes, remuneration and social security | 45 | €4,367 | €19,596 | +€15,229 | +348.7% |
| Taxes | 450/3 | €4,367 | €19,596 | +€15,229 | +348.7% |
| Other amounts payable | 47/48 | - | €157,366 | +€157,366 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,821 | €3,394 | +€1,573 | +86.4% |
| Other operating charges | 640/8 | €476 | €120 | -€356 | -74.8% |
| Gross operating margin | 9900 | €50,410 | €102,999 | +€52,590 | +104.3% |
| Operating profit (loss) | 9901 | €48,113 | €99,486 | +€51,372 | +106.8% |
| Financial income | 75/76B | €1,417 | €1,279 | -€137 | -9.7% |
| Recurring financial income | 75 | €1,417 | €1,279 | -€137 | -9.7% |
| Financial charges | 65/66B | €131 | €61 | -€70 | -53.5% |
| Recurring financial charges | 65 | €131 | €61 | -€70 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €49,399 | €100,704 | +€51,305 | +103.9% |
| Income taxes | 67/77 | €10,191 | €20,609 | +€10,417 | +102.2% |
| Profit (loss) for the period | 9904 | €39,208 | €80,095 | +€40,888 | +104.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,208 | €80,095 | +€40,888 | +104.3% |
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 6 October 2026 via checked.be.