La Vague: 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.
La Vague
Largest movements
- Current investments +€56,872
up €56,872 (+57.8%), from €98,362 to €155,234
- Cash +€41,747
up €41,747 (+46.3%), from €90,218 to €131,966
mainly Debts within one year (+€71,586) and Contributions, distributions and other (+€36,500)
- Receivables within one year +€8,277
up €8,277 (+9.1%), from €91,038 to €99,315
of which Trade receivables: +€8,077
- Debts within one year +€71,586
up €71,586 (+33.5%), from €213,822 to €285,408
- Contributions +€36,500
up €36,500 (+109%), from €33,500 to €70,000
- Staff costs +€8,497
up €8,497 (+1.1%), from €767,823 to €776,319
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 | €286,567 | €400,308 | +€113,741 | +39.7% |
| Fixed assets | 21/28 | €1,385 | €4,662 | +€3,277 | +237% |
| Intangible fixed assets | 21 | - | €605 | +€605 | |
| Tangible fixed assets | 22/27 | €785 | €3,457 | +€2,672 | +340% |
| Plant, machinery and equipment | 23 | - | €667 | +€667 | |
| Furniture and vehicles | 24 | €785 | €2,790 | +€2,005 | +255% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €285,182 | €395,647 | +€110,464 | +38.7% |
| Amounts receivable within one year | 40/41 | €91,038 | €99,315 | +€8,277 | +9.1% |
| Trade receivables | 40 | €90,563 | €98,640 | +€8,077 | +8.9% |
| Other amounts receivable | 41 | €475 | €675 | +€200 | +42.2% |
| Current investments | 50/53 | €98,362 | €155,234 | +€56,872 | +57.8% |
| Cash at bank and in hand | 54/58 | €90,218 | €131,966 | +€41,747 | +46.3% |
| Deferred charges and accrued income | 490/1 | €5,565 | €9,132 | +€3,567 | +64.1% |
| Total equity and liabilities | 10/49 | €286,567 | €400,308 | +€113,741 | +39.7% |
| Equity | 10/15 | €57,194 | €94,200 | +€37,005 | +64.7% |
| Contributions | 10/11 | €33,500 | €70,000 | +€36,500 | +109% |
| Capital | 10 | €33,500 | €70,000 | +€36,500 | +109% |
| Profit (loss) carried forward | 14 | €23,694 | €24,200 | +€505 | +2.1% |
| Provisions and deferred taxes | 16 | €6,000 | €7,400 | +€1,400 | +23.3% |
| Amounts payable | 17/49 | €223,373 | €298,709 | +€75,336 | +33.7% |
| Amounts payable within one year | 42/48 | €213,822 | €285,408 | +€71,586 | +33.5% |
| Trade debts | 44 | €9,966 | €20,081 | +€10,116 | +102% |
| Suppliers | 440/4 | €9,966 | €20,081 | +€10,116 | +102% |
| Taxes, remuneration and social security | 45 | €128,957 | €137,665 | +€8,708 | +6.8% |
| Taxes | 450/3 | €26,339 | €25,790 | -€549 | -2.1% |
| Remuneration and social security | 454/9 | €102,618 | €111,875 | +€9,257 | +9.0% |
| Accrued charges and deferred income | 492/3 | €9,551 | €13,301 | +€3,750 | +39.3% |
| Non-recurring operating income | 76A | - | €5,994 | +€5,994 | |
| Remuneration, social security and pensions | 62 | €767,823 | €776,319 | +€8,497 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,084 | €2,649 | +€565 | +27.1% |
| Other operating charges | 640/8 | €2,288 | €2,513 | +€224 | +9.8% |
| Non-recurring operating charges | 66A | €2,905 | €201 | -€2,704 | -93.1% |
| Gross operating margin | 9900 | €788,298 | €783,694 | -€4,604 | -0.6% |
| Operating profit (loss) | 9901 | €7,198 | €612 | -€6,586 | -91.5% |
| Financial income | 75/76B | €2,580 | €228 | -€2,353 | -91.2% |
| Recurring financial income | 75 | €2,580 | €228 | -€2,353 | -91.2% |
| Financial charges | 65/66B | €258 | €334 | +€76 | +29.5% |
| Recurring financial charges | 65 | €258 | €334 | +€76 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | €9,520 | €505 | -€9,015 | -94.7% |
| Profit (loss) for the period | 9904 | €9,520 | €505 | -€9,015 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,520 | €505 | -€9,015 | -94.7% |
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 25 October 2026 via checked.be.