Sneaky 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.
Sneaky Waves
Largest movements
- Cash -€11,615
down €11,615 (-41.3%), from €28,106 to €16,491
mainly Receivables within one year (-€7,755) and Net result for the year (-€3,928)
- Receivables within one year +€7,755
up €7,755 (+83.6%), from €9,278 to €17,032
of which Trade receivables: +€4,379
- Tangible fixed assets -€941
down €941 (-13.0%), from €7,241 to €6,301
- Profit (loss) carried forward -€3,928
new in 2025: -€3,928
- Tax, wage and social debts -€572
down €572 (-15.6%), from €3,664 to €3,092
- Gross operating margin -€5,323
down €5,323 (-82.5%), from €6,451 to €1,128
- Other operating charges +€1,006
up €1,006 (+179%), from €563 to €1,569
- Taxes -€760
down €760 (-63.5%), from €1,196 to €436
- Depreciation -€671
down €671 (-20.8%), from €3,223 to €2,551
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 | €44,928 | €40,292 | -€4,636 | -10.3% |
| Fixed assets | 21/28 | €7,241 | €6,301 | -€941 | -13.0% |
| Tangible fixed assets | 22/27 | €7,241 | €6,301 | -€941 | -13.0% |
| Furniture and vehicles | 24 | €7,241 | €6,301 | -€941 | -13.0% |
| Current assets | 29/58 | €37,687 | €33,992 | -€3,695 | -9.8% |
| Amounts receivable within one year | 40/41 | €9,278 | €17,032 | +€7,755 | +83.6% |
| Trade receivables | 40 | €6,655 | €11,034 | +€4,379 | +65.8% |
| Other amounts receivable | 41 | €2,623 | €5,998 | +€3,375 | +129% |
| Cash at bank and in hand | 54/58 | €28,106 | €16,491 | -€11,615 | -41.3% |
| Deferred charges and accrued income | 490/1 | €303 | €468 | +€165 | +54.5% |
| Total equity and liabilities | 10/49 | €44,928 | €40,292 | -€4,636 | -10.3% |
| Equity | 10/15 | €41,128 | €37,200 | -€3,928 | -9.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €40,128 | €40,128 | = | 0.0% |
| Distributable reserves | 133 | €40,128 | €40,128 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,928 | -€3,928 | |
| Amounts payable | 17/49 | €3,799 | €3,092 | -€707 | -18.6% |
| Amounts payable within one year | 42/48 | €3,799 | €3,092 | -€707 | -18.6% |
| Trade debts | 44 | €136 | €0 | -€136 | -100% |
| Suppliers | 440/4 | €136 | €0 | -€136 | -100% |
| Taxes, remuneration and social security | 45 | €3,664 | €3,092 | -€572 | -15.6% |
| Taxes | 450/3 | €3,664 | €3,092 | -€572 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,223 | €2,551 | -€671 | -20.8% |
| Other operating charges | 640/8 | €563 | €1,569 | +€1,006 | +179% |
| Gross operating margin | 9900 | €6,451 | €1,128 | -€5,323 | -82.5% |
| Operating profit (loss) | 9901 | €2,666 | -€2,992 | -€5,658 | |
| Financial income | 75/76B | €43 | €103 | +€60 | +138% |
| Recurring financial income | 75 | €43 | €103 | +€60 | +138% |
| Financial charges | 65/66B | €642 | €603 | -€39 | -6.0% |
| Recurring financial charges | 65 | €642 | €603 | -€39 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €2,067 | -€3,492 | -€5,559 | |
| Income taxes | 67/77 | €1,196 | €436 | -€760 | -63.5% |
| Profit (loss) for the period | 9904 | €871 | -€3,928 | -€4,799 | |
| Profit (loss) for the period to be appropriated | 9905 | €871 | -€3,928 | -€4,799 |
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 13 October 2026 via checked.be.