WAVENET: 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.
What changed
WAVENET
NACE 62.900, Other information technology and computer services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6.2m
2024 · €6.1m+€149,302
Equity
€19.3m
2024 · €19.2m+€128,793
Cash
€4.3m
2024 · €1.8m+€2.6m
Balance sheet total
€31.3m
2024 · €28.0m+€3.3m
Largest movements
Assets
- Current investments +€2.9m
up €2.9m (+19.1%), from €15.3m to €18.2m
- Cash +€2.6m
up €2.6m (+147%), from €1.8m to €4.3m
mainly Net result for the year (+€6.2m) and Other debts (+€2.9m)
- Receivables within one year -€1.0m
down €1.0m (-16.1%), from €6.3m to €5.3m
of which Trade receivables: -€1.0m
- Tangible fixed assets -€585,592
down €585,592 (-20.9%), from €2.8m to €2.2m
of which Furniture and vehicles: -€512,237
- Intangible fixed assets -€414,679
down €414,679 (-38.8%), from €1.1m to €653,118
Equity and liabilities
- Other debts +€2.9m
up €2.9m (+87.9%), from €3.3m to €6.2m
- Reserves +€999,875
up €999,875 (+21.3%), from €4.7m to €5.7m
of which Distributable reserves: +€1.2m
- Profit (loss) carried forward -€861,332
down €861,332 (-6.0%), from €14.3m to €13.5m
- Tax, wage and social debts +€363,869
up €363,869 (+10.9%), from €3.3m to €3.7m
of which Taxes: +€253,879
- Advances received -€342,739
down €342,739 (-49.3%), from €694,555 to €351,816
Income statement
- Turnover +€2.4m
up €2.4m (+7.5%), from €31.8m to €34.1m
- Goods and materials +€1.4m
up €1.4m (+18.0%), from €7.9m to €9.3m
- Staff costs +€1.1m
up €1.1m (+7.9%), from €13.4m to €14.4m
- Services and other goods -€693,189
down €693,189 (-30.8%), from €2.3m to €1.6m
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.
Result 2024
€6.1m
Turnover
+€2.4m
Other operating income
-€101,330
Goods and materials
-€1.4m
Services and other goods
+€693,189
Staff costs
-€1.1m
Depreciation
-€4,504
Provisions
-€20,000
Other operating charges
-€56,742
Other operating items
-€37,516
Financial income
+€124,285
Financial charges
-€217,374
Taxes
-€125,382
Result 2025
€6.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€12.3m
Investment
-€3.5m
Financing
-€6.2m
Cash 2024
€1.8m
From operations (derived)
+€12.3m
Net result for the year
+€6.2m
Depreciation
+€1.6m
Receivables after one year
+€394,000
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€238,023
Provisions
+€20,000
Trade debts
+€325,083
Tax, wage and social debts
+€363,869
Advances received
-€342,739
Other debts
+€2.9m
Accrued charges and deferred income
-€7,973
Investment (derived)
-€3.5m
Investment in fixed assets (net)
-€591,579
Current investments
-€2.9m
Financing
-€6.2m
Debts after one year
-€77,500
Contributions, distributions and other
-€6.1m
Cash 2025
€4.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,986,868 | €31,303,565 | +€3.3m | +11.9% |
| Fixed assets | 21/28 | €4,158,759 | €3,155,108 | -€1.0m | -24.1% |
| Intangible fixed assets | 21 | €1,067,797 | €653,118 | -€414,679 | -38.8% |
| Tangible fixed assets | 22/27 | €2,807,059 | €2,221,467 | -€585,592 | -20.9% |
| Plant, machinery and equipment | 23 | €36,863 | €34,018 | -€2,845 | -7.7% |
| Furniture and vehicles | 24 | €2,070,359 | €1,558,122 | -€512,237 | -24.7% |
| Leasing and similar rights | 25 | €666,681 | €589,181 | -€77,500 | -11.6% |
| Other tangible fixed assets | 26 | €33,156 | €40,146 | +€6,991 | +21.1% |
| Financial fixed assets | 28 | €283,904 | €280,524 | -€3,380 | -1.2% |
| Other financial fixed assets | 284/8 | €283,904 | €280,524 | -€3,380 | -1.2% |
| Shares | 284 | €250 | €250 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €283,654 | €280,274 | -€3,380 | -1.2% |
| Current assets | 29/58 | €23,828,109 | €28,148,457 | +€4.3m | +18.1% |
| Amounts receivable after more than one year | 29 | €394,000 | €0 | -€394,000 | -100% |
| Other amounts receivable | 291 | €394,000 | €0 | -€394,000 | -100% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €6,276,059 | €5,264,788 | -€1.0m | -16.1% |
| Trade receivables | 40 | €6,276,059 | €5,264,788 | -€1.0m | -16.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €15,279,614 | €18,191,687 | +€2.9m | +19.1% |
| Other investments | 51/53 | €15,279,614 | €18,191,687 | +€2.9m | +19.1% |
| Cash at bank and in hand | 54/58 | €1,754,354 | €4,329,877 | +€2.6m | +147% |
| Deferred charges and accrued income | 490/1 | €124,081 | €362,105 | +€238,023 | +192% |
| Total equity and liabilities | 10/49 | €27,986,868 | €31,303,565 | +€3.3m | +11.9% |
| Equity | 10/15 | €19,187,905 | €19,316,698 | +€128,793 | +0.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,695,954 | €5,695,829 | +€999,875 | +21.3% |
| Tax-exempt reserves | 132 | €3,650,465 | €3,421,020 | -€229,445 | -6.3% |
| Distributable reserves | 133 | €1,045,489 | €2,274,809 | +€1.2m | +118% |
| Profit (loss) carried forward | 14 | €14,336,858 | €13,475,526 | -€861,332 | -6.0% |
| Investment grants | 15 | €136,500 | €126,750 | -€9,750 | -7.1% |
| Provisions and deferred taxes | 16 | - | €20,000 | +€20,000 | |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Other liabilities and charges | 164/5 | - | €20,000 | +€20,000 | |
| Amounts payable | 17/49 | €8,798,963 | €11,966,867 | +€3.2m | +36.0% |
| Amounts payable after more than one year | 17 | €923,418 | €845,918 | -€77,500 | -8.4% |
| Financial debts | 170/4 | €923,418 | €845,918 | -€77,500 | -8.4% |
| Leasing and similar obligations | 172 | €923,418 | €845,918 | -€77,500 | -8.4% |
| Amounts payable within one year | 42/48 | €7,860,155 | €11,113,532 | +€3.3m | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €77,500 | €77,500 | = | 0.0% |
| Trade debts | 44 | €444,329 | €769,412 | +€325,083 | +73.2% |
| Suppliers | 440/4 | €444,329 | €769,412 | +€325,083 | +73.2% |
| Advances received on contracts in progress | 46 | €694,555 | €351,816 | -€342,739 | -49.3% |
| Taxes, remuneration and social security | 45 | €3,337,067 | €3,700,936 | +€363,869 | +10.9% |
| Taxes | 450/3 | €904,388 | €1,158,266 | +€253,879 | +28.1% |
| Remuneration and social security | 454/9 | €2,432,679 | €2,542,670 | +€109,990 | +4.5% |
| Other amounts payable | 47/48 | €3,306,705 | €6,213,869 | +€2.9m | +87.9% |
| Accrued charges and deferred income | 492/3 | €15,390 | €7,417 | -€7,973 | -51.8% |
| Operating income | 70/76A | €32,600,850 | €34,770,874 | +€2.2m | +6.7% |
| Turnover | 70 | €31,759,854 | €34,127,183 | +€2.4m | +7.5% |
| Own construction capitalised | 72 | €230,763 | €93,582 | -€137,181 | -59.4% |
| Other operating income | 74 | €569,661 | €468,331 | -€101,330 | -17.8% |
| Non-recurring operating income | 76A | €40,572 | €81,777 | +€41,205 | +102% |
| Operating charges | 60/66A | €25,181,387 | €26,983,639 | +€1.8m | +7.2% |
| Goods for resale, raw materials and consumables | 60 | €7,855,973 | €9,272,075 | +€1.4m | +18.0% |
| Purchases | 600/8 | €7,855,973 | €9,272,075 | +€1.4m | +18.0% |
| Services and other goods | 61 | €2,250,831 | €1,557,643 | -€693,189 | -30.8% |
| Remuneration, social security and pensions | 62 | €13,374,836 | €14,431,390 | +€1.1m | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,590,725 | €1,595,229 | +€4,504 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €47,561 | €104,303 | +€56,742 | +119% |
| Non-recurring operating charges | 66A | €61,460 | €3,000 | -€58,460 | -95.1% |
| Operating profit (loss) | 9901 | €7,419,463 | €7,787,235 | +€367,772 | +5.0% |
| Financial income | 75/76B | €437,430 | €561,715 | +€124,285 | +28.4% |
| Recurring financial income | 75 | €437,430 | €561,715 | +€124,285 | +28.4% |
| Income from current assets | 751 | €376,646 | €518,747 | +€142,101 | +37.7% |
| Other financial income | 752/9 | €60,784 | €42,968 | -€17,816 | -29.3% |
| Financial charges | 65/66B | -€47,528 | €169,846 | +€217,374 | |
| Recurring financial charges | 65 | -€47,528 | €169,846 | +€217,374 | |
| Debt charges | 650 | €36,958 | €27,721 | -€9,238 | -25.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€126,604 | €93,629 | +€220,233 | |
| Other financial charges | 652/9 | €42,118 | €48,497 | +€6,379 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €7,904,421 | €8,179,104 | +€274,683 | +3.5% |
| Income taxes | 67/77 | €1,815,179 | €1,940,561 | +€125,382 | +6.9% |
| Taxes | 670/3 | €1,825,148 | €1,940,561 | +€115,412 | +6.3% |
| Tax adjustments and reversals of tax provisions | 77 | €9,969 | €0 | -€9,969 | -100% |
| Profit (loss) for the period | 9904 | €6,089,242 | €6,238,543 | +€149,302 | +2.5% |
| Transfer from tax-exempt reserves | 789 | €349,430 | €1,229,320 | +€879,890 | +252% |
| Transfer to tax-exempt reserves | 689 | €999,875 | €999,875 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,438,797 | €6,467,988 | +€1.0m | +18.9% |
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 30 October 2026 via checked.be.