WAVE DISTIL: 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.
WAVE DISTIL
Largest movements
- Receivables within one year +€162,320
up €162,320 (+30.4%), from €533,219 to €695,539
of which Trade receivables: +€108,375
- Stocks and contracts +€81,193
up €81,193 (+12.9%), from €628,561 to €709,754
- Tangible fixed assets -€43,117
down €43,117 (-4.2%), from €1.0m to €989,645
of which Plant, machinery and equipment: -€54,488
- Cash +€36,050
up €36,050 (+122.7%), from €29,373 to €65,423
mainly Depreciation (+€164,085) and Current portion of long-term debt (+€77,297)
- Current portion of long-term debt +€77,297
up €77,297 (+49.1%), from €157,429 to €234,725
- Tax, wage and social debts +€69,746
up €69,746 (+205.5%), from €33,945 to €103,691
of which Taxes: +€61,460
- Debts after one year +€53,723
up €53,723 (+2.6%), from €2.1m to €2.1m
of which Financial debts: +€53,723
- Short-term financial debts +€50,000
up €50,000 (+100.0%), from €50,000 to €100,000
- Staff costs -€46,219
down €46,219 (-43.5%), from €106,306 to €60,087
- Depreciation +€37,931
up €37,931 (+30.1%), from €126,155 to €164,085
- Gross operating margin -€29,229
down €29,229 (-6.5%), from €447,101 to €417,871
- Financial charges +€24,073
up €24,073 (+23.8%), from €101,118 to €125,191
- Taxes -€14,030
down €14,030 (-60.7%), from €23,096 to €9,066
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 | €3,245,335 | €3,451,199 | +€205,863 | +6.3% |
| Fixed assets | 21/28 | €2,043,581 | €1,980,482 | -€63,099 | -3.1% |
| Intangible fixed assets | 21 | €46,955 | €26,767 | -€20,188 | -43.0% |
| Tangible fixed assets | 22/27 | €1,032,761 | €989,645 | -€43,117 | -4.2% |
| Land and buildings | 22 | €498,150 | €481,919 | -€16,231 | -3.3% |
| Plant, machinery and equipment | 23 | €368,626 | €314,138 | -€54,488 | -14.8% |
| Furniture and vehicles | 24 | €163,893 | €114,513 | -€49,379 | -30.1% |
| Leasing and similar rights | 25 | - | €77,625 | +€77,625 | |
| Other tangible fixed assets | 26 | €2,093 | €1,450 | -€643 | -30.7% |
| Financial fixed assets | 28 | €963,865 | €964,070 | +€205 | 0.0% |
| Current assets | 29/58 | €1,201,754 | €1,470,717 | +€268,963 | +22.4% |
| Stocks and contracts in progress | 3 | €628,561 | €709,754 | +€81,193 | +12.9% |
| Stocks | 30/36 | €628,561 | €709,754 | +€81,193 | +12.9% |
| Amounts receivable within one year | 40/41 | €533,219 | €695,539 | +€162,320 | +30.4% |
| Trade receivables | 40 | €479,330 | €587,705 | +€108,375 | +22.6% |
| Other amounts receivable | 41 | €53,889 | €107,834 | +€53,945 | +100.1% |
| Cash at bank and in hand | 54/58 | €29,373 | €65,423 | +€36,050 | +122.7% |
| Deferred charges and accrued income | 490/1 | €10,601 | - | -€10,601 | |
| Total equity and liabilities | 10/49 | €3,245,335 | €3,451,199 | +€205,863 | +6.3% |
| Equity | 10/15 | €666,586 | €676,092 | +€9,505 | +1.4% |
| Contributions | 10/11 | €248,600 | €248,600 | = | 0.0% |
| Revaluation surpluses | 12 | €232,154 | €224,431 | -€7,723 | -3.3% |
| Reserves | 13 | €23,233 | €30,956 | +€7,723 | +33.2% |
| Distributable reserves | 133 | €23,233 | €30,956 | +€7,723 | +33.2% |
| Profit (loss) carried forward | 14 | €130,830 | €143,188 | +€12,358 | +9.4% |
| Investment grants | 15 | €31,769 | €28,917 | -€2,853 | -9.0% |
| Amounts payable | 17/49 | €2,578,749 | €2,775,107 | +€196,358 | +7.6% |
| Amounts payable after more than one year | 17 | €2,076,543 | €2,130,265 | +€53,723 | +2.6% |
| Financial debts | 170/4 | €639,192 | €692,915 | +€53,723 | +8.4% |
| Other amounts payable | 178/9 | €1,437,351 | €1,437,351 | = | 0.0% |
| Amounts payable within one year | 42/48 | €502,207 | €644,842 | +€142,635 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €157,429 | €234,725 | +€77,297 | +49.1% |
| Financial debts | 43 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Credit institutions | 430/8 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Trade debts | 44 | €58,699 | €30,173 | -€28,526 | -48.6% |
| Suppliers | 440/4 | €58,699 | €30,173 | -€28,526 | -48.6% |
| Taxes, remuneration and social security | 45 | €33,945 | €103,691 | +€69,746 | +205.5% |
| Taxes | 450/3 | €28,016 | €89,476 | +€61,460 | +219.4% |
| Remuneration and social security | 454/9 | €5,930 | €14,215 | +€8,285 | +139.7% |
| Other amounts payable | 47/48 | €202,133 | €176,252 | -€25,882 | -12.8% |
| Non-recurring operating income | 76A | €30,373 | €3,946 | -€26,427 | -87.0% |
| Remuneration, social security and pensions | 62 | €106,306 | €60,087 | -€46,219 | -43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,155 | €164,085 | +€37,931 | +30.1% |
| Other operating charges | 640/8 | €3,869 | €3,137 | -€732 | -18.9% |
| Non-recurring operating charges | 66A | €14,171 | €47,297 | +€33,126 | +233.8% |
| Gross operating margin | 9900 | €447,101 | €417,871 | -€29,229 | -6.5% |
| Operating profit (loss) | 9901 | €196,600 | €143,265 | -€53,335 | -27.1% |
| Financial income | 75/76B | €2,958 | €3,350 | +€392 | +13.3% |
| Recurring financial income | 75 | €2,958 | €3,350 | +€392 | +13.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €101,118 | €125,191 | +€24,073 | +23.8% |
| Recurring financial charges | 65 | €101,118 | €125,191 | +€24,073 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €98,440 | €21,424 | -€77,016 | -78.2% |
| Income taxes | 67/77 | €23,096 | €9,066 | -€14,030 | -60.7% |
| Profit (loss) for the period | 9904 | €75,344 | €12,358 | -€62,985 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,344 | €12,358 | -€62,985 | -83.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.