Wave Management: 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 Management
Largest movements
- Cash -€65,441
down €65,441 (-58.4%), from €112,084 to €46,643
mainly Contributions, distributions and other (-€58,760) and Other debts (-€56,616)
- Tangible fixed assets +€8,025
up €8,025 (+169.4%), from €4,737 to €12,761
- Receivables within one year +€1,957
up €1,957 (+12.8%), from €15,290 to €17,247
of which Trade receivables: +€1,591
- Other debts -€56,616
down €56,616 (-70.4%), from €80,462 to €23,847
- Reserves -€13,760
down €13,760 (-100.0%), from €13,760 to €0
- Profit (loss) carried forward +€9,269
up €9,269 (+322.4%), from €2,876 to €12,145
- Trade debts +€3,808
up €3,808 (+103.6%), from €3,676 to €7,484
- Tax, wage and social debts +€1,638
up €1,638 (+11.2%), from €14,576 to €16,214
of which Remuneration and social security: +€1,435
- Taxes -€1,383
down €1,383 (-8.9%), from €15,579 to €14,196
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 | €133,950 | €78,289 | -€55,661 | -41.6% |
| Fixed assets | 21/28 | €4,737 | €12,761 | +€8,025 | +169.4% |
| Tangible fixed assets | 22/27 | €4,737 | €12,761 | +€8,025 | +169.4% |
| Furniture and vehicles | 24 | €4,737 | €12,761 | +€8,025 | +169.4% |
| Current assets | 29/58 | €129,213 | €65,527 | -€63,686 | -49.3% |
| Amounts receivable within one year | 40/41 | €15,290 | €17,247 | +€1,957 | +12.8% |
| Trade receivables | 40 | €14,852 | €16,443 | +€1,591 | +10.7% |
| Other amounts receivable | 41 | €438 | €804 | +€366 | +83.6% |
| Cash at bank and in hand | 54/58 | €112,084 | €46,643 | -€65,441 | -58.4% |
| Deferred charges and accrued income | 490/1 | €1,839 | €1,638 | -€201 | -10.9% |
| Total equity and liabilities | 10/49 | €133,950 | €78,289 | -€55,661 | -41.6% |
| Equity | 10/15 | €35,236 | €30,745 | -€4,491 | -12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,760 | €0 | -€13,760 | -100.0% |
| Distributable reserves | 133 | €13,760 | €0 | -€13,760 | -100.0% |
| Profit (loss) carried forward | 14 | €2,876 | €12,145 | +€9,269 | +322.4% |
| Amounts payable | 17/49 | €98,714 | €47,544 | -€51,170 | -51.8% |
| Amounts payable within one year | 42/48 | €98,714 | €47,544 | -€51,170 | -51.8% |
| Trade debts | 44 | €3,676 | €7,484 | +€3,808 | +103.6% |
| Suppliers | 440/4 | €3,676 | €7,484 | +€3,808 | +103.6% |
| Taxes, remuneration and social security | 45 | €14,576 | €16,214 | +€1,638 | +11.2% |
| Taxes | 450/3 | €14,576 | €14,779 | +€203 | +1.4% |
| Remuneration and social security | 454/9 | - | €1,435 | +€1,435 | |
| Other amounts payable | 47/48 | €80,462 | €23,847 | -€56,616 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,401 | €2,562 | +€162 | +6.7% |
| Other operating charges | 640/8 | €654 | €564 | -€90 | -13.8% |
| Gross operating margin | 9900 | €73,348 | €73,856 | +€509 | +0.7% |
| Operating profit (loss) | 9901 | €70,293 | €70,730 | +€438 | +0.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €2,100 | €2,265 | +€165 | +7.9% |
| Recurring financial charges | 65 | €2,100 | €2,265 | +€165 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €68,193 | €68,466 | +€273 | +0.4% |
| Income taxes | 67/77 | €15,579 | €14,196 | -€1,383 | -8.9% |
| Profit (loss) for the period | 9904 | €52,614 | €54,269 | +€1,655 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,614 | €54,269 | +€1,655 | +3.1% |
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 7 October 2026 via checked.be.