WAVECO: 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.
WAVECO
Largest movements
- Cash +€14,230
up €14,230 (+73.0%), from €19,506 to €33,736
mainly Other debts (+€26,567) and Net result for the year (+€19,911)
- Receivables within one year +€11,525
up €11,525 (+19.1%), from €60,372 to €71,897
of which Other amounts receivable: +€11,510
- Tangible fixed assets -€7,159
down €7,159 (-73.3%), from €9,763 to €2,604
of which Furniture and vehicles: -€6,930
- Deferred charges and accrued income -€6,890
down €6,890 (-100.0%), from €6,890 to €0
- Other debts +€26,567
up €26,567 (+3092.8%), from €859 to €27,426
- Reserves -€7,516
down €7,516 (-11.5%), from €65,595 to €58,079
- Current portion of long-term debt -€7,358
down €7,358 (-100.0%), from €7,358 to €0
- Financial income -€16,196
down €16,196 (-58.5%), from €27,702 to €11,506
- Depreciation -€15,060
down €15,060 (-67.8%), from €22,218 to €7,159
- Gross operating margin +€10,889
up €10,889 (+82.6%), from €13,191 to €24,080
- Taxes +€5,062
up €5,062 (+303.5%), from €1,668 to €6,730
- Other operating charges -€583
down €583 (-25.7%), from €2,268 to €1,685
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 | €446,531 | €458,238 | +€11,707 | +2.6% |
| Fixed assets | 21/28 | €359,763 | €352,604 | -€7,159 | -2.0% |
| Tangible fixed assets | 22/27 | €9,763 | €2,604 | -€7,159 | -73.3% |
| Plant, machinery and equipment | 23 | €229 | €0 | -€229 | -100.0% |
| Furniture and vehicles | 24 | €9,534 | €2,604 | -€6,930 | -72.7% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €86,768 | €105,633 | +€18,865 | +21.7% |
| Amounts receivable within one year | 40/41 | €60,372 | €71,897 | +€11,525 | +19.1% |
| Trade receivables | 40 | €1,249 | €1,264 | +€15 | +1.2% |
| Other amounts receivable | 41 | €59,123 | €70,633 | +€11,510 | +19.5% |
| Cash at bank and in hand | 54/58 | €19,506 | €33,736 | +€14,230 | +73.0% |
| Deferred charges and accrued income | 490/1 | €6,890 | €0 | -€6,890 | -100.0% |
| Total equity and liabilities | 10/49 | €446,531 | €458,238 | +€11,707 | +2.6% |
| Equity | 10/15 | €434,195 | €426,679 | -€7,516 | -1.7% |
| Contributions | 10/11 | €368,600 | €368,600 | = | 0.0% |
| Reserves | 13 | €65,595 | €58,079 | -€7,516 | -11.5% |
| Distributable reserves | 133 | €65,595 | €58,079 | -€7,516 | -11.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,337 | €31,559 | +€19,222 | +155.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €12,337 | €31,559 | +€19,222 | +155.8% |
| Current portion of amounts payable after more than one year | 42 | €7,358 | €0 | -€7,358 | -100.0% |
| Trade debts | 44 | €384 | €1,132 | +€748 | +194.5% |
| Suppliers | 440/4 | €384 | €1,132 | +€748 | +194.5% |
| Taxes, remuneration and social security | 45 | €3,735 | €3,000 | -€735 | -19.7% |
| Taxes | 450/3 | €3,735 | €3,000 | -€735 | -19.7% |
| Other amounts payable | 47/48 | €859 | €27,426 | +€26,567 | +3092.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,218 | €7,159 | -€15,060 | -67.8% |
| Other operating charges | 640/8 | €2,268 | €1,685 | -€583 | -25.7% |
| Gross operating margin | 9900 | €13,191 | €24,080 | +€10,889 | +82.6% |
| Operating profit (loss) | 9901 | -€11,296 | €15,236 | +€26,532 | |
| Financial income | 75/76B | €27,702 | €11,506 | -€16,196 | -58.5% |
| Recurring financial income | 75 | €27,702 | €11,506 | -€16,196 | -58.5% |
| Financial charges | 65/66B | €321 | €102 | -€219 | -68.2% |
| Recurring financial charges | 65 | €321 | €102 | -€219 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | €16,086 | €26,640 | +€10,554 | +65.6% |
| Income taxes | 67/77 | €1,668 | €6,730 | +€5,062 | +303.5% |
| Profit (loss) for the period | 9904 | €14,418 | €19,911 | +€5,493 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,418 | €19,911 | +€5,493 | +38.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.