WAVICAN: 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.
WAVICAN
Largest movements
- Tangible fixed assets -€19,959
down €19,959 (-33.8%), from €59,048 to €39,089
of which Leasing and similar rights: -€11,790
- Cash +€15,245
up €15,245 (+36.9%), from €41,335 to €56,579
mainly Net result for the year (+€33,290) and Other debts (+€31,716)
- Receivables within one year -€9,938
down €9,938 (-33.7%), from €29,497 to €19,559
of which Trade receivables: -€10,107
- Stocks and contracts +€6,590
up €6,590 (+49.9%), from €13,220 to €19,810
- Other debts +€31,716
up €31,716 (+1,062%), from €2,986 to €34,702
- Profit (loss) carried forward -€29,644
down €29,644 (-78.1%), from €37,934 to €8,290
- Current portion of long-term debt -€12,790
down €12,790 (-91.6%), from €13,965 to €1,174
- Tax, wage and social debts +€7,335
up €7,335 (+665%), from €1,104 to €8,439
of which Taxes: +€4,585
- Accrued charges and deferred income -€4,406
down €4,406 (-100%), from €4,406 to €0
- Gross operating margin -€15,046
down €15,046 (-18.6%), from €80,778 to €65,732
- Financial charges -€10,001
down €10,001 (-95.8%), from €10,438 to €436
of which Non-recurring financial charges: -€10,000
- Depreciation +€2,577
up €2,577 (+13.6%), from €18,978 to €21,555
- Other operating charges -€1,301
down €1,301 (-61.4%), from €2,118 to €817
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 | €148,496 | €140,563 | -€7,933 | -5.3% |
| Fixed assets | 21/28 | €59,048 | €39,089 | -€19,959 | -33.8% |
| Tangible fixed assets | 22/27 | €59,048 | €39,089 | -€19,959 | -33.8% |
| Plant, machinery and equipment | 23 | €840 | €538 | -€303 | -36.0% |
| Furniture and vehicles | 24 | €36,825 | €28,958 | -€7,867 | -21.4% |
| Leasing and similar rights | 25 | €21,383 | €9,593 | -€11,790 | -55.1% |
| Current assets | 29/58 | €89,447 | €101,474 | +€12,026 | +13.4% |
| Stocks and contracts in progress | 3 | €13,220 | €19,810 | +€6,590 | +49.9% |
| Stocks | 30/36 | €13,220 | €19,810 | +€6,590 | +49.9% |
| Amounts receivable within one year | 40/41 | €29,497 | €19,559 | -€9,938 | -33.7% |
| Trade receivables | 40 | €29,497 | €19,390 | -€10,107 | -34.3% |
| Other amounts receivable | 41 | - | €169 | +€169 | |
| Cash at bank and in hand | 54/58 | €41,335 | €56,579 | +€15,245 | +36.9% |
| Deferred charges and accrued income | 490/1 | €5,396 | €5,525 | +€129 | +2.4% |
| Total equity and liabilities | 10/49 | €148,496 | €140,563 | -€7,933 | -5.3% |
| Equity | 10/15 | €124,845 | €95,201 | -€29,644 | -23.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €80,911 | €80,911 | = | 0.0% |
| Distributable reserves | 133 | €80,911 | €80,911 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,934 | €8,290 | -€29,644 | -78.1% |
| Amounts payable | 17/49 | €23,651 | €45,362 | +€21,711 | +91.8% |
| Amounts payable after more than one year | 17 | €1,174 | €0 | -€1,174 | -100% |
| Financial debts | 170/4 | €1,174 | €0 | -€1,174 | -100% |
| Amounts payable within one year | 42/48 | €18,071 | €45,362 | +€27,291 | +151% |
| Current portion of amounts payable after more than one year | 42 | €13,965 | €1,174 | -€12,790 | -91.6% |
| Trade debts | 44 | €17 | €1,047 | +€1,030 | +6,229% |
| Suppliers | 440/4 | €17 | €1,047 | +€1,030 | +6,229% |
| Taxes, remuneration and social security | 45 | €1,104 | €8,439 | +€7,335 | +665% |
| Taxes | 450/3 | €1,104 | €5,689 | +€4,585 | +415% |
| Remuneration and social security | 454/9 | - | €2,750 | +€2,750 | |
| Other amounts payable | 47/48 | €2,986 | €34,702 | +€31,716 | +1,062% |
| Accrued charges and deferred income | 492/3 | €4,406 | €0 | -€4,406 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,978 | €21,555 | +€2,577 | +13.6% |
| Other operating charges | 640/8 | €2,118 | €817 | -€1,301 | -61.4% |
| Gross operating margin | 9900 | €80,778 | €65,732 | -€15,046 | -18.6% |
| Operating profit (loss) | 9901 | €59,682 | €43,360 | -€16,322 | -27.3% |
| Financial income | 75/76B | €504 | €198 | -€306 | -60.7% |
| Recurring financial income | 75 | €504 | €198 | -€306 | -60.7% |
| Financial charges | 65/66B | €10,438 | €436 | -€10,001 | -95.8% |
| Recurring financial charges | 65 | €438 | €436 | -€1 | -0.2% |
| Non-recurring financial charges | 66B | €10,000 | €0 | -€10,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €49,748 | €43,121 | -€6,627 | -13.3% |
| Income taxes | 67/77 | €10,148 | €9,831 | -€317 | -3.1% |
| Profit (loss) for the period | 9904 | €39,600 | €33,290 | -€6,310 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,600 | €33,290 | -€6,310 | -15.9% |
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 20 October 2026 via checked.be.