WAVELETS: 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.
WAVELETS
Largest movements
- Tangible fixed assets -€14,781
down €14,781 (-7.5%), from €198,242 to €183,460
of which Land and buildings: -€9,676
- Cash -€2,808
down €2,808 (-71.0%), from €3,957 to €1,149
mainly Net result for the year (-€25,297) and Tax, wage and social debts (-€9,435)
- Profit (loss) carried forward -€25,297
new in 2025: -€25,297
- Other debts +€17,143
up €17,143 (+120.2%), from €14,262 to €31,405
- Tax, wage and social debts -€9,435
down €9,435 (-97.0%), from €9,729 to €294
- Gross operating margin -€40,811
down €40,811, from €31,760 to -€9,050
- Depreciation -€1,883
down €1,883 (-11.3%), from €16,664 to €14,781
- Taxes -€1,003
down €1,003 (-75.5%), from €1,329 to €326
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 | €202,198 | €184,609 | -€17,589 | -8.7% |
| Fixed assets | 21/28 | €198,242 | €183,460 | -€14,781 | -7.5% |
| Tangible fixed assets | 22/27 | €198,242 | €183,460 | -€14,781 | -7.5% |
| Land and buildings | 22 | €193,137 | €183,460 | -€9,676 | -5.0% |
| Furniture and vehicles | 24 | €5,105 | - | -€5,105 | |
| Current assets | 29/58 | €3,957 | €1,149 | -€2,808 | -71.0% |
| Cash at bank and in hand | 54/58 | €3,957 | €1,149 | -€2,808 | -71.0% |
| Total equity and liabilities | 10/49 | €202,198 | €184,609 | -€17,589 | -8.7% |
| Equity | 10/15 | €178,207 | €152,910 | -€25,297 | -14.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €116,707 | €116,707 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €110,557 | €110,557 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€25,297 | -€25,297 | |
| Amounts payable | 17/49 | €23,991 | €31,699 | +€7,708 | +32.1% |
| Amounts payable within one year | 42/48 | €23,991 | €31,699 | +€7,708 | +32.1% |
| Taxes, remuneration and social security | 45 | €9,729 | €294 | -€9,435 | -97.0% |
| Taxes | 450/3 | €9,729 | €294 | -€9,435 | -97.0% |
| Other amounts payable | 47/48 | €14,262 | €31,405 | +€17,143 | +120.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,664 | €14,781 | -€1,883 | -11.3% |
| Other operating charges | 640/8 | €1,065 | €908 | -€157 | -14.8% |
| Gross operating margin | 9900 | €31,760 | -€9,050 | -€40,811 | |
| Operating profit (loss) | 9901 | €14,031 | -€24,739 | -€38,771 | |
| Financial charges | 65/66B | €103 | €232 | +€129 | +125.0% |
| Recurring financial charges | 65 | €103 | €232 | +€129 | +125.0% |
| Profit (loss) for the period before taxes | 9903 | €13,928 | -€24,972 | -€38,900 | |
| Income taxes | 67/77 | €1,329 | €326 | -€1,003 | -75.5% |
| Profit (loss) for the period | 9904 | €12,599 | -€25,297 | -€37,897 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,599 | -€25,297 | -€37,897 |
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 4 October 2026 via checked.be.