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 96.995, Pet boarding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€193,895
2024 · -€62,103-€131,792
Equity
€5.2m
2024 · €5.3m-€193,895
Cash
€27,332
2024 · €462,541-€435,209
Balance sheet total
€6.8m
2024 · €7.4m-€552,985
Largest movements
Assets
- Cash -€435,209
down €435,209 (-94.1%), from €462,541 to €27,332
mainly Other debts (-€315,000) and Investment in fixed assets (net) (-€229,263)
- Tangible fixed assets -€92,608
down €92,608 (-1.3%), from €6.9m to €6.8m
of which Land and buildings: -€249,495
Equity and liabilities
- Other debts -€315,000
down €315,000 (-19.0%), from €1.7m to €1.3m
- Profit (loss) carried forward -€138,286
down €138,286 (-16.5%), from -€839,758 to -€978,044
Income statement
- Gross operating margin -€190,933
down €190,933 (-40.5%), from €471,443 to €280,510
- Staff costs -€59,382
down €59,382 (-45.9%), from €129,249 to €69,866
- Other operating charges -€6,057
down €6,057 (-18.6%), from €32,594 to €26,537
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.
Result 2024
-€62,103
Gross operating margin
-€190,933
Staff costs
+€59,382
Depreciation
-€831
Other operating charges
+€6,057
Financial income
-€826
Financial charges
-€4,640
Result 2025
-€193,895
raises the resultlowers the result
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.
From operations
-€205,946
Investment
-€229,263
Financing
€0
Cash 2024
€462,541
From operations (derived)
-€205,946
Net result for the year
-€193,895
Depreciation
+€328,271
Stocks and contracts
+€4,950
Receivables within one year
+€13,600
Deferred charges and accrued income
+€217
Provisions
-€18,536
Trade debts
-€14,192
Tax, wage and social debts
-€8,578
Other debts
-€315,000
Accrued charges and deferred income
-€2,784
Investment (derived)
-€229,263
Investment in fixed assets (net)
-€229,263
Cash 2025
€27,332
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,398,033 | €6,845,048 | -€552,985 | -7.5% |
| Fixed assets | 21/28 | €6,906,740 | €6,807,732 | -€99,008 | -1.4% |
| Intangible fixed assets | 21 | €6,300 | €0 | -€6,300 | -100% |
| Tangible fixed assets | 22/27 | €6,896,080 | €6,803,472 | -€92,608 | -1.3% |
| Land and buildings | 22 | €6,381,742 | €6,132,247 | -€249,495 | -3.9% |
| Plant, machinery and equipment | 23 | €512,908 | €671,100 | +€158,192 | +30.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,430 | €125 | -€1,305 | -91.3% |
| Financial fixed assets | 28 | €4,360 | €4,260 | -€100 | -2.3% |
| Current assets | 29/58 | €491,293 | €37,315 | -€453,977 | -92.4% |
| Stocks and contracts in progress | 3 | €4,950 | €0 | -€4,950 | -100% |
| Stocks | 30/36 | €4,950 | €0 | -€4,950 | -100% |
| Amounts receivable within one year | 40/41 | €22,586 | €8,985 | -€13,600 | -60.2% |
| Trade receivables | 40 | €21,198 | €8,341 | -€12,856 | -60.6% |
| Other amounts receivable | 41 | €1,388 | €644 | -€744 | -53.6% |
| Cash at bank and in hand | 54/58 | €462,541 | €27,332 | -€435,209 | -94.1% |
| Deferred charges and accrued income | 490/1 | €1,215 | €998 | -€217 | -17.9% |
| Total equity and liabilities | 10/49 | €7,398,033 | €6,845,048 | -€552,985 | -7.5% |
| Equity | 10/15 | €5,349,624 | €5,155,728 | -€193,895 | -3.6% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Capital | 10 | €5,000,000 | €5,000,000 | = | 0.0% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | €1,189,381 | €1,133,772 | -€55,609 | -4.7% |
| Non-distributable reserves | 130/1 | €68,981 | €68,981 | = | 0.0% |
| Legal reserve | 130 | €68,981 | €68,981 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,019,501 | €963,891 | -€55,609 | -5.5% |
| Distributable reserves | 133 | €100,900 | €100,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€839,758 | -€978,044 | -€138,286 | -16.5% |
| Provisions and deferred taxes | 16 | €339,833 | €321,297 | -€18,536 | -5.5% |
| Deferred taxes | 168 | €339,833 | €321,297 | -€18,536 | -5.5% |
| Amounts payable | 17/49 | €1,708,575 | €1,368,022 | -€340,553 | -19.9% |
| Amounts payable within one year | 42/48 | €1,691,946 | €1,354,176 | -€337,769 | -20.0% |
| Trade debts | 44 | €23,328 | €9,136 | -€14,192 | -60.8% |
| Suppliers | 440/4 | €23,328 | €9,136 | -€14,192 | -60.8% |
| Taxes, remuneration and social security | 45 | €14,618 | €6,040 | -€8,578 | -58.7% |
| Remuneration and social security | 454/9 | €14,618 | €6,040 | -€8,578 | -58.7% |
| Other amounts payable | 47/48 | €1,654,000 | €1,339,000 | -€315,000 | -19.0% |
| Accrued charges and deferred income | 492/3 | €16,630 | €13,846 | -€2,784 | -16.7% |
| Remuneration, social security and pensions | 62 | €129,249 | €69,866 | -€59,382 | -45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,440 | €328,271 | +€831 | +0.3% |
| Other operating charges | 640/8 | €32,594 | €26,537 | -€6,057 | -18.6% |
| Gross operating margin | 9900 | €471,443 | €280,510 | -€190,933 | -40.5% |
| Operating profit (loss) | 9901 | -€17,839 | -€144,164 | -€126,326 | -708% |
| Financial income | 75/76B | €1,001 | €174 | -€826 | -82.6% |
| Recurring financial income | 75 | €1,001 | €174 | -€826 | -82.6% |
| Financial charges | 65/66B | €63,802 | €68,442 | +€4,640 | +7.3% |
| Recurring financial charges | 65 | €63,802 | €68,442 | +€4,640 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | -€80,640 | -€212,432 | -€131,792 | -163% |
| Transfer from deferred taxes | 780 | €18,536 | €18,536 | -€0 | 0.0% |
| Profit (loss) for the period | 9904 | -€62,103 | -€193,895 | -€131,792 | -212% |
| Transfer from tax-exempt reserves | 789 | €55,609 | €55,609 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,494 | -€138,286 | -€131,792 | -2,029% |
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.