WAVE Advice: 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.
WAVE Advice
Largest movements
- Cash +€80,630
up €80,630 (+58.0%), from €138,973 to €219,603
mainly Net result for the year (+€110,744) and Receivables within one year (+€21,836)
- Receivables within one year -€21,836
down €21,836 (-9.3%), from €235,026 to €213,190
of which Trade receivables: -€21,829
- Tangible fixed assets -€14,798
down €14,798 (-4.6%), from €322,055 to €307,258
of which Land and buildings: -€11,259
- Financial fixed assets +€9,000
up €9,000 (+26.7%), from €33,755 to €42,755
- Reserves +€110,744
up €110,744 (+28.9%), from €383,286 to €494,029
of which Distributable reserves: +€110,744
- Trade debts -€27,211
down €27,211 (-80.1%), from €33,952 to €6,741
- Tax, wage and social debts -€15,747
down €15,747 (-20.7%), from €76,064 to €60,316
of which Taxes: -€14,190
- Debts after one year -€15,340
down €15,340 (-7.5%), from €205,593 to €190,252
- Gross operating margin +€47,101
up €47,101 (+36.3%), from €129,675 to €176,776
- Taxes +€20,742
up €20,742 (+68.0%), from €30,523 to €51,265
- Depreciation -€4,070
down €4,070 (-21.6%), from €18,868 to €14,798
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 | €730,911 | €783,918 | +€53,007 | +7.3% |
| Fixed assets | 21/28 | €355,810 | €350,012 | -€5,798 | -1.6% |
| Tangible fixed assets | 22/27 | €322,055 | €307,258 | -€14,798 | -4.6% |
| Land and buildings | 22 | €315,427 | €304,169 | -€11,259 | -3.6% |
| Furniture and vehicles | 24 | €6,628 | €3,089 | -€3,539 | -53.4% |
| Financial fixed assets | 28 | €33,755 | €42,755 | +€9,000 | +26.7% |
| Current assets | 29/58 | €375,101 | €433,906 | +€58,804 | +15.7% |
| Amounts receivable within one year | 40/41 | €235,026 | €213,190 | -€21,836 | -9.3% |
| Trade receivables | 40 | €88,111 | €66,282 | -€21,829 | -24.8% |
| Other amounts receivable | 41 | €146,916 | €146,909 | -€7 | 0.0% |
| Cash at bank and in hand | 54/58 | €138,973 | €219,603 | +€80,630 | +58.0% |
| Deferred charges and accrued income | 490/1 | €1,102 | €1,113 | +€11 | +1.0% |
| Total equity and liabilities | 10/49 | €730,911 | €783,918 | +€53,007 | +7.3% |
| Equity | 10/15 | €384,786 | €495,529 | +€110,744 | +28.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €383,286 | €494,029 | +€110,744 | +28.9% |
| Non-distributable reserves | 130/1 | €150 | €150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €150 | €150 | = | 0.0% |
| Distributable reserves | 133 | €383,136 | €493,879 | +€110,744 | +28.9% |
| Amounts payable | 17/49 | €346,126 | €288,389 | -€57,737 | -16.7% |
| Amounts payable after more than one year | 17 | €205,593 | €190,252 | -€15,340 | -7.5% |
| Financial debts | 170/4 | €205,593 | €190,252 | -€15,340 | -7.5% |
| Amounts payable within one year | 42/48 | €124,982 | €82,397 | -€42,585 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €14,966 | €15,340 | +€374 | +2.5% |
| Trade debts | 44 | €33,952 | €6,741 | -€27,211 | -80.1% |
| Suppliers | 440/4 | €33,952 | €6,741 | -€27,211 | -80.1% |
| Taxes, remuneration and social security | 45 | €76,064 | €60,316 | -€15,747 | -20.7% |
| Taxes | 450/3 | €74,506 | €60,316 | -€14,190 | -19.0% |
| Remuneration and social security | 454/9 | €1,558 | €0 | -€1,558 | -100.0% |
| Accrued charges and deferred income | 492/3 | €15,551 | €15,739 | +€188 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,868 | €14,798 | -€4,070 | -21.6% |
| Other operating charges | 640/8 | €1,838 | €923 | -€915 | -49.8% |
| Gross operating margin | 9900 | €129,675 | €176,776 | +€47,101 | +36.3% |
| Operating profit (loss) | 9901 | €108,970 | €161,056 | +€52,086 | +47.8% |
| Financial income | 75/76B | €9,354 | €8,291 | -€1,063 | -11.4% |
| Recurring financial income | 75 | €9,354 | €8,291 | -€1,063 | -11.4% |
| Financial charges | 65/66B | €7,141 | €7,339 | +€198 | +2.8% |
| Recurring financial charges | 65 | €7,141 | €7,339 | +€198 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €111,183 | €162,008 | +€50,826 | +45.7% |
| Income taxes | 67/77 | €30,523 | €51,265 | +€20,742 | +68.0% |
| Profit (loss) for the period | 9904 | €80,660 | €110,744 | +€30,083 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €80,660 | €110,744 | +€30,083 | +37.3% |
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 6 October 2026 via checked.be.