WAVE IMMO: 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 IMMO
Largest movements
- Intangible fixed assets -€23,829
down €23,829 (-25.0%), from €95,310 to €71,480
- Receivables within one year -€23,098
down €23,098 (-71.7%), from €32,224 to €9,126
of which Other amounts receivable: -€16,241
- Tangible fixed assets -€2,217
down €2,217 (-8.2%), from €26,965 to €24,748
of which Other tangible fixed assets: -€3,240
- Profit (loss) carried forward -€43,666
down €43,666 (-2620.5%), from -€1,666 to -€45,332
- Other debts +€16,009
up €16,009 (+303.7%), from €5,272 to €21,281
- Debts after one year -€12,714
down €12,714 (-37.2%), from €34,202 to €21,488
- Trade debts -€12,217
down €12,217 (-30.6%), from €39,869 to €27,652
- Short-term financial debts -€5,340
no longer reported in 2025 (was €5,340)
- Staff costs +€31,000
up €31,000 (+18.7%), from €165,651 to €196,652
- Gross operating margin -€11,264
down €11,264 (-5.6%), from €202,295 to €191,031
- Depreciation +€3,705
up €3,705 (+14.2%), from €26,015 to €29,720
- Taxes -€2,502
down €2,502 (-90.2%), from €2,773 to €271
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 | €157,900 | €108,992 | -€48,908 | -31.0% |
| Fixed assets | 21/28 | €122,545 | €96,498 | -€26,046 | -21.3% |
| Intangible fixed assets | 21 | €95,310 | €71,480 | -€23,829 | -25.0% |
| Tangible fixed assets | 22/27 | €26,965 | €24,748 | -€2,217 | -8.2% |
| Plant, machinery and equipment | 23 | €3,083 | €4,106 | +€1,022 | +33.2% |
| Other tangible fixed assets | 26 | €23,882 | €20,642 | -€3,240 | -13.6% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €35,355 | €12,493 | -€22,862 | -64.7% |
| Amounts receivable within one year | 40/41 | €32,224 | €9,126 | -€23,098 | -71.7% |
| Trade receivables | 40 | €9,426 | €2,569 | -€6,857 | -72.7% |
| Other amounts receivable | 41 | €22,798 | €6,557 | -€16,241 | -71.2% |
| Cash at bank and in hand | 54/58 | €117 | €750 | +€633 | +540.8% |
| Deferred charges and accrued income | 490/1 | €3,014 | €2,616 | -€398 | -13.2% |
| Total equity and liabilities | 10/49 | €157,900 | €108,992 | -€48,908 | -31.0% |
| Equity | 10/15 | €6,394 | -€37,272 | -€43,666 | |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,666 | -€45,332 | -€43,666 | -2620.5% |
| Amounts payable | 17/49 | €151,506 | €146,264 | -€5,243 | -3.5% |
| Amounts payable after more than one year | 17 | €34,202 | €21,488 | -€12,714 | -37.2% |
| Financial debts | 170/4 | €34,202 | €21,488 | -€12,714 | -37.2% |
| Amounts payable within one year | 42/48 | €116,731 | €122,212 | +€5,481 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €30,936 | €35,568 | +€4,632 | +15.0% |
| Financial debts | 43 | €5,340 | - | -€5,340 | |
| Credit institutions | 430/8 | €5,340 | - | -€5,340 | |
| Trade debts | 44 | €39,869 | €27,652 | -€12,217 | -30.6% |
| Suppliers | 440/4 | €39,869 | €27,652 | -€12,217 | -30.6% |
| Taxes, remuneration and social security | 45 | €35,315 | €37,711 | +€2,396 | +6.8% |
| Taxes | 450/3 | €1,216 | €1,822 | +€605 | +49.7% |
| Remuneration and social security | 454/9 | €34,098 | €35,889 | +€1,791 | +5.3% |
| Other amounts payable | 47/48 | €5,272 | €21,281 | +€16,009 | +303.7% |
| Accrued charges and deferred income | 492/3 | €573 | €2,564 | +€1,991 | +347.3% |
| Remuneration, social security and pensions | 62 | €165,651 | €196,652 | +€31,000 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,015 | €29,720 | +€3,705 | +14.2% |
| Other operating charges | 640/8 | €597 | €463 | -€134 | -22.5% |
| Non-recurring operating charges | 66A | €1,800 | €1,145 | -€655 | -36.4% |
| Gross operating margin | 9900 | €202,295 | €191,031 | -€11,264 | -5.6% |
| Operating profit (loss) | 9901 | €8,232 | -€36,949 | -€45,181 | |
| Financial income | 75/76B | €1,219 | €2 | -€1,217 | -99.8% |
| Recurring financial income | 75 | €1,219 | €2 | -€1,217 | -99.8% |
| Financial charges | 65/66B | €5,749 | €6,448 | +€700 | +12.2% |
| Recurring financial charges | 65 | €5,749 | €6,448 | +€700 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €3,702 | -€43,395 | -€47,097 | |
| Income taxes | 67/77 | €2,773 | €271 | -€2,502 | -90.2% |
| Profit (loss) for the period | 9904 | €930 | -€43,666 | -€44,596 | |
| Profit (loss) for the period to be appropriated | 9905 | €930 | -€43,666 | -€44,596 |
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 10 October 2026 via checked.be.