WAVE-TECH: 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-TECH
Largest movements
- Receivables within one year -€96,058
down €96,058 (-95.2%), from €100,887 to €4,829
of which Trade receivables: -€97,812
- Stocks and contracts +€18,313
new in 2025: €18,313
- Cash -€4,582
down €4,582 (-40.8%), from €11,230 to €6,649
mainly Net result for the year (-€54,499) and Trade debts (-€24,468)
- Tangible fixed assets -€3,372
down €3,372 (-32.4%), from €10,405 to €7,033
of which Furniture and vehicles: -€5,172
- Deferred charges and accrued income +€2,988
new in 2025: €2,988
- Profit (loss) carried forward -€54,499
down €54,499, from €881 to -€53,618
- Trade debts -€24,468
down €24,468 (-81.4%), from €30,045 to €5,576
- Tax, wage and social debts -€10,410
down €10,410 (-49.7%), from €20,964 to €10,554
of which Taxes: -€12,410
- Other debts +€5,309
up €5,309 (+50.5%), from €10,508 to €15,817
- Contributions -€1,860
down €1,860 (-9.1%), from €20,460 to €18,600
- Financial charges +€50,877
up €50,877 (+5,912%), from €861 to €51,737
of which Non-recurring financial charges: +€49,529
- Gross operating margin -€10,903
down €10,903 (-62.0%), from €17,592 to €6,689
- Other operating charges +€3,577
up €3,577 (+355%), from €1,009 to €4,586
- Taxes -€1,879
down €1,879 (-56.8%), from €3,308 to €1,429
- Depreciation -€1,874
down €1,874 (-35.1%), from €5,345 to €3,471
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 | €122,870 | €40,159 | -€82,711 | -67.3% |
| Fixed assets | 21/28 | €10,753 | €7,381 | -€3,372 | -31.4% |
| Tangible fixed assets | 22/27 | €10,405 | €7,033 | -€3,372 | -32.4% |
| Plant, machinery and equipment | 23 | - | €1,800 | +€1,800 | |
| Furniture and vehicles | 24 | €10,405 | €5,233 | -€5,172 | -49.7% |
| Financial fixed assets | 28 | €348 | €348 | = | 0.0% |
| Current assets | 29/58 | €112,117 | €32,779 | -€79,339 | -70.8% |
| Stocks and contracts in progress | 3 | - | €18,313 | +€18,313 | |
| Stocks | 30/36 | - | €18,313 | +€18,313 | |
| Amounts receivable within one year | 40/41 | €100,887 | €4,829 | -€96,058 | -95.2% |
| Trade receivables | 40 | €100,530 | €2,718 | -€97,812 | -97.3% |
| Other amounts receivable | 41 | €357 | €2,111 | +€1,754 | +491% |
| Cash at bank and in hand | 54/58 | €11,230 | €6,649 | -€4,582 | -40.8% |
| Deferred charges and accrued income | 490/1 | - | €2,988 | +€2,988 | |
| Total equity and liabilities | 10/49 | €122,870 | €40,159 | -€82,711 | -67.3% |
| Equity | 10/15 | €61,341 | €6,842 | -€54,499 | -88.8% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Contributions outside capital | 11 | €20,460 | - | -€20,460 | |
| Other | 1109/19 | €20,460 | - | -€20,460 | |
| Reserves | 13 | €40,000 | €41,860 | +€1,860 | +4.7% |
| Distributable reserves | 133 | €40,000 | €41,860 | +€1,860 | +4.7% |
| Profit (loss) carried forward | 14 | €881 | -€53,618 | -€54,499 | |
| Amounts payable | 17/49 | €61,529 | €33,317 | -€28,212 | -45.9% |
| Amounts payable within one year | 42/48 | €61,529 | €31,947 | -€29,582 | -48.1% |
| Financial debts | 43 | €13 | - | -€13 | |
| Credit institutions | 430/8 | €13 | - | -€13 | |
| Trade debts | 44 | €30,045 | €5,576 | -€24,468 | -81.4% |
| Suppliers | 440/4 | €30,045 | €5,576 | -€24,468 | -81.4% |
| Taxes, remuneration and social security | 45 | €20,964 | €10,554 | -€10,410 | -49.7% |
| Taxes | 450/3 | €20,964 | €8,554 | -€12,410 | -59.2% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €10,508 | €15,817 | +€5,309 | +50.5% |
| Accrued charges and deferred income | 492/3 | - | €1,370 | +€1,370 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,345 | €3,471 | -€1,874 | -35.1% |
| Other operating charges | 640/8 | €1,009 | €4,586 | +€3,577 | +355% |
| Gross operating margin | 9900 | €17,592 | €6,689 | -€10,903 | -62.0% |
| Operating profit (loss) | 9901 | €11,238 | -€1,368 | -€12,606 | |
| Financial income | 75/76B | €43 | €35 | -€8 | -18.5% |
| Recurring financial income | 75 | €43 | €35 | -€8 | -18.5% |
| Financial charges | 65/66B | €861 | €51,737 | +€50,877 | +5,912% |
| Recurring financial charges | 65 | €861 | €2,209 | +€1,348 | +157% |
| Non-recurring financial charges | 66B | - | €49,529 | +€49,529 | |
| Profit (loss) for the period before taxes | 9903 | €10,420 | -€53,070 | -€63,491 | |
| Income taxes | 67/77 | €3,308 | €1,429 | -€1,879 | -56.8% |
| Profit (loss) for the period | 9904 | €7,112 | -€54,499 | -€61,611 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,112 | -€54,499 | -€61,611 |
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 24 October 2026 via checked.be.