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.
What changed
WAVE
NACE 68.110, Buying and selling of own real estate
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€1.6m
2023 · €198,723+€1.4m
Equity
€67.3m
2023 · €69.2m-€1.9m
Cash
€2.8m
2023 · €1.3m+€1.5m
Balance sheet total
€186.2m
2023 · €206.6m-€20.4m
Largest movements
Assets
- Tangible fixed assets -€18.5m
down €18.5m (-14.2%), from €130.3m to €111.8m
of which Land and buildings: -€18.5m
- Stocks and contracts -€9.7m
down €9.7m (-27.5%), from €35.2m to €25.5m
- Receivables within one year +€5.1m
up €5.1m (+33.9%), from €15.1m to €20.2m
of which Other amounts receivable: +€3.8m
Equity and liabilities
- Short-term financial debts -€21.4m
down €21.4m (-23.3%), from €91.9m to €70.4m
- Revaluation surpluses -€3.5m
down €3.5m (-8.3%), from €42.8m to €39.3m
Income statement
- Goods and materials -€2.7m
down €2.7m (-14.4%), from €18.5m to €15.9m
of which Change in stocks: decrease (increase): -€2.7m
- Other operating charges +€872,515
up €872,515 (+82.1%), from €1.1m to €1.9m
- Services and other goods +€544,798
up €544,798 (+352%), from €154,670 to €699,468
- Financial income +€437,812
up €437,812 (+48.3%), from €905,983 to €1.3m
- Taxes +€317,534
up €317,534 (+159%), from €200,060 to €517,594
of which Taxes: +€343,925
From the 2023 result to the 2024 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.
Result 2023
€198,723
Turnover
+€61,223
Other operating income
+€143,882
Goods and materials
+€2.7m
Services and other goods
-€544,798
Staff costs
-€138
Depreciation
+€281,999
Provisions
-€278,944
Other operating charges
-€872,515
Financial income
+€437,812
Financial charges
-€168,445
Taxes
-€317,534
Result 2024
€1.6m
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€13.5m
Investment
+€12.4m
Financing
-€24.4m
Cash 2023
€1.3m
From operations (derived)
+€13.5m
Net result for the year
+€1.6m
Depreciation
+€4.9m
Stocks and contracts
+€9.7m
Receivables within one year
-€5.1m
Provisions
-€50,373
Trade debts
+€1.7m
Tax, wage and social debts
+€365,228
Other debts
+€408,061
Investment (derived)
+€12.4m
Investment in fixed assets (net)
+€13.9m
Current investments
-€1.4m
Financing
-€24.4m
Debts after one year
+€597,325
Current portion of long-term debt
-€76,850
Short-term financial debts
-€21.4m
Contributions, distributions and other
-€3.5m
Cash 2024
€2.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €206,613,563 | €186,240,510 | -€20.4m | -9.9% |
| Fixed assets | 21/28 | €147,651,662 | €128,910,760 | -€18.7m | -12.7% |
| Intangible fixed assets | 21 | €4,561,756 | €4,293,418 | -€268,339 | -5.9% |
| Tangible fixed assets | 22/27 | €130,269,742 | €111,797,179 | -€18.5m | -14.2% |
| Land and buildings | 22 | €130,268,891 | €111,780,809 | -€18.5m | -14.2% |
| Furniture and vehicles | 24 | €851 | €16,371 | +€15,520 | +1,825% |
| Financial fixed assets | 28 | €12,820,164 | €12,820,163 | -€1 | 0.0% |
| Affiliated companies | 280/1 | €12,820,164 | €12,820,163 | -€1 | 0.0% |
| Participating interests | 280 | €12,820,164 | €12,820,163 | -€1 | 0.0% |
| Current assets | 29/58 | €58,961,901 | €57,329,750 | -€1.6m | -2.8% |
| Stocks and contracts in progress | 3 | €35,168,208 | €25,498,450 | -€9.7m | -27.5% |
| Stocks | 30/36 | €35,168,208 | €25,498,450 | -€9.7m | -27.5% |
| Property held for sale | 35 | €35,168,208 | €25,498,450 | -€9.7m | -27.5% |
| Amounts receivable within one year | 40/41 | €15,051,031 | €20,154,358 | +€5.1m | +33.9% |
| Trade receivables | 40 | €1,686,839 | €2,996,792 | +€1.3m | +77.7% |
| Other amounts receivable | 41 | €13,364,192 | €17,157,566 | +€3.8m | +28.4% |
| Current investments | 50/53 | €7,469,604 | €8,913,427 | +€1.4m | +19.3% |
| Other investments | 51/53 | €7,469,604 | €8,913,427 | +€1.4m | +19.3% |
| Cash at bank and in hand | 54/58 | €1,273,058 | €2,763,515 | +€1.5m | +117% |
| Total equity and liabilities | 10/49 | €206,613,563 | €186,240,510 | -€20.4m | -9.9% |
| Equity | 10/15 | €69,223,245 | €67,300,705 | -€1.9m | -2.8% |
| Contributions | 10/11 | €5,650,000 | €5,650,000 | = | 0.0% |
| Capital | 10 | €5,650,000 | €5,650,000 | = | 0.0% |
| Issued capital | 100 | €5,650,000 | €5,650,000 | = | 0.0% |
| Revaluation surpluses | 12 | €42,809,117 | €39,272,684 | -€3.5m | -8.3% |
| Reserves | 13 | €20,764,128 | €22,378,021 | +€1.6m | +7.8% |
| Non-distributable reserves | 130/1 | €565,000 | €565,000 | = | 0.0% |
| Legal reserve | 130 | €565,000 | €565,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,035,168 | €1,884,049 | -€151,119 | -7.4% |
| Distributable reserves | 133 | €18,163,960 | €19,928,972 | +€1.8m | +9.7% |
| Provisions and deferred taxes | 16 | €2,854,353 | €2,803,980 | -€50,373 | -1.8% |
| Provisions for liabilities and charges | 160/5 | €2,175,964 | €2,175,964 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,175,964 | €2,175,964 | = | 0.0% |
| Deferred taxes | 168 | €678,389 | €628,016 | -€50,373 | -7.4% |
| Amounts payable | 17/49 | €134,535,965 | €116,135,824 | -€18.4m | -13.7% |
| Amounts payable after more than one year | 17 | €34,378,674 | €34,975,999 | +€597,325 | +1.7% |
| Financial debts | 170/4 | €33,810,631 | €34,297,801 | +€487,170 | +1.4% |
| Credit institutions | 173 | €33,810,631 | €34,297,801 | +€487,170 | +1.4% |
| Other amounts payable | 178/9 | €568,043 | €678,198 | +€110,155 | +19.4% |
| Amounts payable within one year | 42/48 | €100,157,291 | €81,159,825 | -€19.0m | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €2,019,924 | €1,943,073 | -€76,850 | -3.8% |
| Financial debts | 43 | €91,850,168 | €70,443,135 | -€21.4m | -23.3% |
| Credit institutions | 430/8 | €91,850,168 | €70,443,135 | -€21.4m | -23.3% |
| Trade debts | 44 | €1,101,978 | €2,815,106 | +€1.7m | +155% |
| Suppliers | 440/4 | €1,101,978 | €2,815,106 | +€1.7m | +155% |
| Taxes, remuneration and social security | 45 | €195,919 | €561,147 | +€365,228 | +186% |
| Taxes | 450/3 | €195,919 | €561,147 | +€365,228 | +186% |
| Other amounts payable | 47/48 | €4,989,303 | €5,397,364 | +€408,061 | +8.2% |
| Operating income | 70/76A | €30,098,879 | €30,303,984 | +€205,105 | +0.7% |
| Turnover | 70 | €30,034,492 | €30,095,715 | +€61,223 | +0.2% |
| Other operating income | 74 | €64,387 | €208,269 | +€143,882 | +223% |
| Operating charges | 60/66A | €24,622,901 | €23,365,241 | -€1.3m | -5.1% |
| Goods for resale, raw materials and consumables | 60 | €18,524,612 | €15,852,557 | -€2.7m | -14.4% |
| Purchases | 600/8 | €5,319,080 | €5,301,038 | -€18,042 | -0.3% |
| Change in stocks: decrease (increase) | 609 | €13,205,532 | €10,551,518 | -€2.7m | -20.1% |
| Services and other goods | 61 | €154,670 | €699,468 | +€544,798 | +352% |
| Remuneration, social security and pensions | 62 | - | €138 | +€138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,159,976 | €4,877,977 | -€281,999 | -5.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€278,944 | - | +€278,944 | |
| Other operating charges | 640/8 | €1,062,587 | €1,935,102 | +€872,515 | +82.1% |
| Operating profit (loss) | 9901 | €5,475,978 | €6,938,743 | +€1.5m | +26.7% |
| Financial income | 75/76B | €905,983 | €1,343,794 | +€437,812 | +48.3% |
| Recurring financial income | 75 | €905,983 | €1,343,794 | +€437,812 | +48.3% |
| Income from financial fixed assets | 750 | €56 | - | -€56 | |
| Income from current assets | 751 | €244,030 | €1,342,633 | +€1.1m | +450% |
| Other financial income | 752/9 | €661,897 | €1,161 | -€660,735 | -99.8% |
| Financial charges | 65/66B | €6,033,550 | €6,201,995 | +€168,445 | +2.8% |
| Recurring financial charges | 65 | €6,033,550 | €6,201,995 | +€168,445 | +2.8% |
| Debt charges | 650 | €5,782,383 | €5,851,359 | +€68,976 | +1.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €910 | - | -€910 | |
| Other financial charges | 652/9 | €250,257 | €350,636 | +€100,379 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €348,411 | €2,080,542 | +€1.7m | +497% |
| Transfer from deferred taxes | 780 | €50,373 | €50,373 | = | 0.0% |
| Income taxes | 67/77 | €200,060 | €517,594 | +€317,534 | +159% |
| Taxes | 670/3 | €200,060 | €543,985 | +€343,925 | +172% |
| Tax adjustments and reversals of tax provisions | 77 | - | €26,391 | +€26,391 | |
| Profit (loss) for the period | 9904 | €198,723 | €1,613,321 | +€1.4m | +712% |
| Transfer from tax-exempt reserves | 789 | €151,119 | €151,119 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €349,842 | €1,764,439 | +€1.4m | +404% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.