WAVADO: 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.
WAVADO
Largest movements
- Tangible fixed assets -€63,795
down €63,795 (-6.4%), from €999,244 to €935,449
of which Land and buildings: -€60,637
- Current investments +€60,000
up €60,000 (+66.7%), from €90,000 to €150,000
- Accrued charges and deferred income +€165,796
up €165,796 (+1118.4%), from €14,825 to €180,620
- Other debts -€145,079
down €145,079 (-91.1%), from €159,179 to €14,100
- Profit (loss) carried forward -€16,550
down €16,550 (-37.9%), from €43,629 to €27,078
- Advances received -€15,000
no longer reported in 2025 (was €15,000)
- Gross operating margin -€40,625
down €40,625 (-39.2%), from €103,726 to €63,101
- Depreciation -€9,399
down €9,399 (-13.3%), from €70,481 to €61,082
- Taxes -€4,706
down €4,706 (-98.2%), from €4,791 to €85
- Other operating charges -€1,054
down €1,054 (-7.5%), from €14,107 to €13,053
- Financial charges -€1,044
down €1,044 (-8.2%), from €12,701 to €11,657
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 | €1,112,847 | €1,098,995 | -€13,851 | -1.2% |
| Fixed assets | 21/28 | €999,244 | €935,449 | -€63,795 | -6.4% |
| Tangible fixed assets | 22/27 | €999,244 | €935,449 | -€63,795 | -6.4% |
| Land and buildings | 22 | €996,086 | €935,449 | -€60,637 | -6.1% |
| Leasing and similar rights | 25 | €3,158 | - | -€3,158 | |
| Current assets | 29/58 | €113,603 | €163,547 | +€49,944 | +44.0% |
| Amounts receivable within one year | 40/41 | €2,324 | €309 | -€2,015 | -86.7% |
| Other amounts receivable | 41 | €2,324 | €309 | -€2,015 | -86.7% |
| Current investments | 50/53 | €90,000 | €150,000 | +€60,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €21,278 | €13,237 | -€8,041 | -37.8% |
| Total equity and liabilities | 10/49 | €1,112,847 | €1,098,995 | -€13,851 | -1.2% |
| Equity | 10/15 | €879,272 | €856,478 | -€22,795 | -2.6% |
| Contributions | 10/11 | €635,000 | €635,000 | = | 0.0% |
| Outside capital | 11 | €635,000 | €635,000 | = | 0.0% |
| Other | 1109/19 | €635,000 | €635,000 | = | 0.0% |
| Reserves | 13 | €200,644 | €194,400 | -€6,244 | -3.1% |
| Non-distributable reserves | 130/1 | €5,735 | €5,735 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,735 | €5,735 | = | 0.0% |
| Tax-exempt reserves | 132 | €152,619 | €146,375 | -€6,244 | -4.1% |
| Distributable reserves | 133 | €42,290 | €42,290 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,629 | €27,078 | -€16,550 | -37.9% |
| Provisions and deferred taxes | 16 | €44,571 | €42,489 | -€2,081 | -4.7% |
| Deferred taxes | 168 | €44,571 | €42,489 | -€2,081 | -4.7% |
| Amounts payable | 17/49 | €189,003 | €200,028 | +€11,025 | +5.8% |
| Amounts payable within one year | 42/48 | €174,179 | €19,408 | -€154,771 | -88.9% |
| Trade debts | 44 | €0 | €5,308 | +€5,308 | |
| Suppliers | 440/4 | €0 | €5,308 | +€5,308 | |
| Advances received on contracts in progress | 46 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €159,179 | €14,100 | -€145,079 | -91.1% |
| Accrued charges and deferred income | 492/3 | €14,825 | €180,620 | +€165,796 | +1118.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,481 | €61,082 | -€9,399 | -13.3% |
| Other operating charges | 640/8 | €14,107 | €13,053 | -€1,054 | -7.5% |
| Non-recurring operating charges | 66A | - | €2,713 | +€2,713 | |
| Gross operating margin | 9900 | €103,726 | €63,101 | -€40,625 | -39.2% |
| Operating profit (loss) | 9901 | €19,138 | -€13,747 | -€32,885 | |
| Financial income | 75/76B | €5 | €613 | +€607 | +11056.8% |
| Recurring financial income | 75 | €5 | €613 | +€607 | +11056.8% |
| Financial charges | 65/66B | €12,701 | €11,657 | -€1,044 | -8.2% |
| Recurring financial charges | 65 | €12,701 | €11,657 | -€1,044 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €6,443 | -€24,791 | -€31,234 | |
| Transfer from deferred taxes | 780 | €2,081 | €2,081 | = | 0.0% |
| Income taxes | 67/77 | €4,791 | €85 | -€4,706 | -98.2% |
| Profit (loss) for the period | 9904 | €3,734 | -€22,795 | -€26,528 | |
| Transfer from tax-exempt reserves | 789 | €6,244 | €6,244 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,978 | -€16,550 | -€26,528 |
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 28 September 2026 via checked.be.