WAVE IMMO 1: 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 1
Largest movements
- Receivables within one year -€55,694
down €55,694 (-16.9%), from €329,514 to €273,820
- Cash +€20,599
up €20,599 (+382%), from €5,393 to €25,992
mainly Receivables within one year (+€55,694) and Net result for the year (+€38,934)
- Tangible fixed assets -€11,778
down €11,778 (-4.6%), from €258,509 to €246,731
- Debts after one year -€25,000
down €25,000 (-23.5%), from €106,249 to €81,249
- Other debts -€22,329
down €22,329 (-32.3%), from €69,040 to €46,710
- Gross operating margin -€3,646
down €3,646 (-7.1%), from €51,665 to €48,019
- Financial charges -€3,407
down €3,407 (-38.5%), from €8,856 to €5,450
- Depreciation +€642
up €642 (+5.8%), from €11,107 to €11,749
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €593,517 | €546,647 | -€46,870 | -7.9% |
| Fixed assets | 21/28 | €258,509 | €246,731 | -€11,778 | -4.6% |
| Tangible fixed assets | 22/27 | €258,509 | €246,731 | -€11,778 | -4.6% |
| Land and buildings | 22 | €258,509 | €246,731 | -€11,778 | -4.6% |
| Current assets | 29/58 | €335,008 | €299,916 | -€35,092 | -10.5% |
| Amounts receivable within one year | 40/41 | €329,514 | €273,820 | -€55,694 | -16.9% |
| Other amounts receivable | 41 | €329,514 | €273,820 | -€55,694 | -16.9% |
| Cash at bank and in hand | 54/58 | €5,393 | €25,992 | +€20,599 | +382% |
| Deferred charges and accrued income | 490/1 | €101 | €104 | +€3 | +3.0% |
| Total equity and liabilities | 10/49 | €593,517 | €546,647 | -€46,870 | -7.9% |
| Equity | 10/15 | €390,782 | €392,216 | +€1,434 | +0.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €119,000 | €119,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €94,000 | €94,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,782 | €23,216 | +€1,434 | +6.6% |
| Amounts payable | 17/49 | €202,734 | €154,431 | -€48,304 | -23.8% |
| Amounts payable after more than one year | 17 | €106,249 | €81,249 | -€25,000 | -23.5% |
| Financial debts | 170/4 | €106,249 | €81,249 | -€25,000 | -23.5% |
| Amounts payable within one year | 42/48 | €96,485 | €73,182 | -€23,304 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €1,802 | €949 | -€852 | -47.3% |
| Suppliers | 440/4 | €1,802 | €949 | -€852 | -47.3% |
| Taxes, remuneration and social security | 45 | €644 | €522 | -€122 | -18.9% |
| Taxes | 450/3 | €644 | €522 | -€122 | -18.9% |
| Other amounts payable | 47/48 | €69,040 | €46,710 | -€22,329 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,107 | €11,749 | +€642 | +5.8% |
| Other operating charges | 640/8 | €2,367 | €2,041 | -€326 | -13.8% |
| Non-recurring operating charges | 66A | €1 | €29 | +€28 | +2,236% |
| Gross operating margin | 9900 | €51,665 | €48,019 | -€3,646 | -7.1% |
| Operating profit (loss) | 9901 | €38,189 | €34,199 | -€3,990 | -10.4% |
| Financial income | 75/76B | €10,529 | €10,706 | +€177 | +1.7% |
| Recurring financial income | 75 | €10,529 | €10,706 | +€177 | +1.7% |
| Financial charges | 65/66B | €8,856 | €5,450 | -€3,407 | -38.5% |
| Recurring financial charges | 65 | €8,856 | €5,450 | -€3,407 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €39,863 | €39,456 | -€407 | -1.0% |
| Income taxes | 67/77 | €644 | €522 | -€122 | -18.9% |
| Profit (loss) for the period | 9904 | €39,219 | €38,934 | -€285 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,219 | €38,934 | -€285 | -0.7% |
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 15 October 2026 via checked.be.