WAVER: 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.
WAVER
Largest movements
- Cash +€38,854
up €38,854 (+64.2%), from €60,480 to €99,333
mainly Net result for the year (+€46,001) and Depreciation (+€9,315)
- Tangible fixed assets -€1,689
down €1,689 (-7.0%), from €24,254 to €22,566
- Reserves +€46,001
up €46,001 (+62.1%), from €74,053 to €120,054
- Debts after one year -€10,274
down €10,274 (-59.4%), from €17,289 to €7,014
- Tax, wage and social debts +€1,499
up €1,499 (+43.9%), from €3,412 to €4,911
- Gross operating margin +€10,227
up €10,227 (+17.5%), from €58,573 to €68,800
- Taxes +€1,963
up €1,963 (+18.6%), from €10,532 to €12,495
- Financial income +€735
up €735 (+267%), from €276 to €1,011
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 | €108,450 | €146,311 | +€37,862 | +34.9% |
| Fixed assets | 21/28 | €24,254 | €22,566 | -€1,689 | -7.0% |
| Tangible fixed assets | 22/27 | €24,254 | €22,566 | -€1,689 | -7.0% |
| Furniture and vehicles | 24 | €24,254 | €22,566 | -€1,689 | -7.0% |
| Current assets | 29/58 | €84,195 | €123,746 | +€39,551 | +47.0% |
| Amounts receivable after more than one year | 29 | €9,000 | €9,000 | = | 0.0% |
| Other amounts receivable | 291 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,505 | €13,893 | +€388 | +2.9% |
| Trade receivables | 40 | €12,960 | €13,424 | +€464 | +3.6% |
| Other amounts receivable | 41 | €544 | €468 | -€76 | -13.9% |
| Cash at bank and in hand | 54/58 | €60,480 | €99,333 | +€38,854 | +64.2% |
| Deferred charges and accrued income | 490/1 | €1,211 | €1,520 | +€309 | +25.5% |
| Total equity and liabilities | 10/49 | €108,450 | €146,311 | +€37,862 | +34.9% |
| Equity | 10/15 | €76,053 | €122,054 | +€46,001 | +60.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €74,053 | €120,054 | +€46,001 | +62.1% |
| Distributable reserves | 133 | €74,053 | €120,054 | +€46,001 | +62.1% |
| Amounts payable | 17/49 | €32,396 | €24,258 | -€8,139 | -25.1% |
| Amounts payable after more than one year | 17 | €17,289 | €7,014 | -€10,274 | -59.4% |
| Financial debts | 170/4 | €17,289 | €7,014 | -€10,274 | -59.4% |
| Amounts payable within one year | 42/48 | €14,858 | €16,993 | +€2,135 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €9,985 | €10,274 | +€290 | +2.9% |
| Trade debts | 44 | €1,095 | €235 | -€860 | -78.5% |
| Suppliers | 440/4 | €1,095 | €235 | -€860 | -78.5% |
| Taxes, remuneration and social security | 45 | €3,412 | €4,911 | +€1,499 | +43.9% |
| Taxes | 450/3 | €3,412 | €4,911 | +€1,499 | +43.9% |
| Other amounts payable | 47/48 | €366 | €1,573 | +€1,207 | +330% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,222 | €9,315 | +€93 | +1.0% |
| Other operating charges | 640/8 | €1,081 | €1,223 | +€141 | +13.1% |
| Gross operating margin | 9900 | €58,573 | €68,800 | +€10,227 | +17.5% |
| Operating profit (loss) | 9901 | €48,270 | €58,263 | +€9,992 | +20.7% |
| Financial income | 75/76B | €276 | €1,011 | +€735 | +267% |
| Recurring financial income | 75 | €276 | €1,011 | +€735 | +267% |
| Financial charges | 65/66B | €1,059 | €778 | -€281 | -26.5% |
| Recurring financial charges | 65 | €1,059 | €778 | -€281 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €47,487 | €58,496 | +€11,009 | +23.2% |
| Income taxes | 67/77 | €10,532 | €12,495 | +€1,963 | +18.6% |
| Profit (loss) for the period | 9904 | €36,955 | €46,001 | +€9,046 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,955 | €46,001 | +€9,046 | +24.5% |
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 25 October 2026 via checked.be.