Wave Agency: what changed
Wave Agency
Largest movements
- Receivables within one year +€204,933
up €204,933 (+57.8%), from €354,804 to €559,737
of which Trade receivables: +€302,165
- Receivables after one year -€89,358
down €89,358 (-32.0%), from €279,358 to €190,000
- Financial fixed assets -€78,750
down €78,750 (-89.5%), from €88,006 to €9,256
- Tangible fixed assets -€33,064
down €33,064 (-41.3%), from €80,046 to €46,982
of which Other tangible fixed assets: -€18,974
- Cash +€24,531
up €24,531 (+1,110%), from €2,210 to €26,741
mainly Current portion of long-term debt (+€179,400) and Trade debts (+€116,656)
- Debts after one year -€200,000
no longer reported in 2025 (was €200,000)
- Current portion of long-term debt +€179,400
up €179,400 (+871%), from €20,600 to €200,000
- Trade debts +€116,656
up €116,656 (+21.7%), from €537,222 to €653,878
- Tax, wage and social debts -€65,553
down €65,553 (-77.1%), from €85,062 to €19,509
of which Remuneration and social security: -€58,437
- Gross operating margin +€137,873
up €137,873 (+20.9%), from €659,269 to €797,142
- Write-downs +€86,056
up €86,056 (+287%), from €30,000 to €116,056
- Staff costs -€59,767
down €59,767 (-9.9%), from €606,263 to €546,496
- Depreciation +€53,583
up €53,583 (+108%), from €49,636 to €103,219
- Financial charges -€14,526
down €14,526 (-50.5%), from €28,743 to €14,217
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €857,808 | €889,154 | +€31,346 | +3.7% |
| Fixed assets | 21/28 | €220,243 | €98,429 | -€121,814 | -55.3% |
| Intangible fixed assets | 21 | €52,191 | €42,191 | -€10,000 | -19.2% |
| Tangible fixed assets | 22/27 | €80,046 | €46,982 | -€33,064 | -41.3% |
| Plant, machinery and equipment | 23 | €14,227 | €4,988 | -€9,239 | -64.9% |
| Furniture and vehicles | 24 | €17,049 | €12,198 | -€4,851 | -28.5% |
| Other tangible fixed assets | 26 | €48,770 | €29,796 | -€18,974 | -38.9% |
| Financial fixed assets | 28 | €88,006 | €9,256 | -€78,750 | -89.5% |
| Current assets | 29/58 | €637,565 | €790,725 | +€153,160 | +24.0% |
| Amounts receivable after more than one year | 29 | €279,358 | €190,000 | -€89,358 | -32.0% |
| Other amounts receivable | 291 | €279,358 | €190,000 | -€89,358 | -32.0% |
| Amounts receivable within one year | 40/41 | €354,804 | €559,737 | +€204,933 | +57.8% |
| Trade receivables | 40 | €214,656 | €516,821 | +€302,165 | +141% |
| Other amounts receivable | 41 | €140,148 | €42,916 | -€97,232 | -69.4% |
| Cash at bank and in hand | 54/58 | €2,210 | €26,741 | +€24,531 | +1,110% |
| Deferred charges and accrued income | 490/1 | €1,193 | €14,247 | +€13,054 | +1,094% |
| Total equity and liabilities | 10/49 | €857,808 | €889,154 | +€31,346 | +3.7% |
| Equity | 10/15 | €5,912 | €6,715 | +€803 | +13.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,738 | -€60,935 | +€803 | +1.3% |
| Amounts payable | 17/49 | €851,896 | €882,439 | +€30,543 | +3.6% |
| Amounts payable after more than one year | 17 | €200,000 | - | -€200,000 | |
| Financial debts | 170/4 | €200,000 | - | -€200,000 | |
| Amounts payable within one year | 42/48 | €644,018 | €874,521 | +€230,503 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €20,600 | €200,000 | +€179,400 | +871% |
| Trade debts | 44 | €537,222 | €653,878 | +€116,656 | +21.7% |
| Suppliers | 440/4 | €537,222 | €653,878 | +€116,656 | +21.7% |
| Taxes, remuneration and social security | 45 | €85,062 | €19,509 | -€65,553 | -77.1% |
| Taxes | 450/3 | €7,116 | - | -€7,116 | |
| Remuneration and social security | 454/9 | €77,946 | €19,509 | -€58,437 | -75.0% |
| Other amounts payable | 47/48 | €1,134 | €1,134 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,878 | €7,918 | +€40 | +0.5% |
| Remuneration, social security and pensions | 62 | €606,263 | €546,496 | -€59,767 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,636 | €103,219 | +€53,583 | +108% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,000 | €116,056 | +€86,056 | +287% |
| Other operating charges | 640/8 | €18,257 | €12,632 | -€5,625 | -30.8% |
| Gross operating margin | 9900 | €659,269 | €797,142 | +€137,873 | +20.9% |
| Operating profit (loss) | 9901 | -€44,887 | €18,739 | +€63,626 | |
| Financial income | 75/76B | €10,345 | - | -€10,345 | |
| Recurring financial income | 75 | €10,345 | - | -€10,345 | |
| Financial charges | 65/66B | €28,743 | €14,217 | -€14,526 | -50.5% |
| Recurring financial charges | 65 | €28,743 | €14,217 | -€14,526 | -50.5% |
| Profit (loss) for the period before taxes | 9903 | -€63,285 | €4,522 | +€67,807 | |
| Income taxes | 67/77 | €12,175 | €3,719 | -€8,456 | -69.5% |
| Profit (loss) for the period | 9904 | -€75,460 | €803 | +€76,263 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,460 | €803 | +€76,263 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.