WAXVEN: 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.
WAXVEN
Largest movements
- Tangible fixed assets -€99,486
down €99,486 (-5.9%), from €1.7m to €1.6m
of which Land and buildings: -€95,407
- Receivables within one year -€23,556
down €23,556 (-14.2%), from €166,445 to €142,888
of which Trade receivables: -€23,470
- Financial fixed assets -€23,410
down €23,410 (-48.8%), from €47,971 to €24,561
- Other debts -€74,997
down €74,997 (-5.4%), from €1.4m to €1.3m
- Debts after one year -€73,788
down €73,788 (-21.7%), from €340,669 to €266,881
- Gross operating margin +€91,392
up €91,392 (+126%), from €72,276 to €163,667
- Financial charges +€22,562
up €22,562 (+142%), from €15,878 to €38,440
- Other operating charges +€1,835
up €1,835 (+9.1%), from €20,063 to €21,898
- Depreciation -€1,744
down €1,744 (-1.7%), from €101,231 to €99,486
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 | €1,986,067 | €1,832,955 | -€153,112 | -7.7% |
| Fixed assets | 21/28 | €1,735,475 | €1,612,578 | -€122,897 | -7.1% |
| Tangible fixed assets | 22/27 | €1,687,503 | €1,588,017 | -€99,486 | -5.9% |
| Land and buildings | 22 | €786,073 | €690,665 | -€95,407 | -12.1% |
| Furniture and vehicles | 24 | €4,488 | €2,342 | -€2,147 | -47.8% |
| Other tangible fixed assets | 26 | €896,942 | €895,010 | -€1,933 | -0.2% |
| Financial fixed assets | 28 | €47,971 | €24,561 | -€23,410 | -48.8% |
| Current assets | 29/58 | €250,592 | €220,377 | -€30,215 | -12.1% |
| Amounts receivable within one year | 40/41 | €166,445 | €142,888 | -€23,556 | -14.2% |
| Trade receivables | 40 | €165,979 | €142,510 | -€23,470 | -14.1% |
| Other amounts receivable | 41 | €465 | €379 | -€86 | -18.6% |
| Cash at bank and in hand | 54/58 | €75,958 | €66,819 | -€9,139 | -12.0% |
| Deferred charges and accrued income | 490/1 | €8,189 | €10,669 | +€2,481 | +30.3% |
| Total equity and liabilities | 10/49 | €1,986,067 | €1,832,955 | -€153,112 | -7.7% |
| Equity | 10/15 | €82,821 | €69,887 | -€12,934 | -15.6% |
| Contributions | 10/11 | €164,800 | €164,800 | = | 0.0% |
| Capital | 10 | €164,800 | €164,800 | = | 0.0% |
| Issued capital | 100 | €171,000 | €171,000 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,519 | €24,519 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,100 | €17,100 | = | 0.0% |
| Legal reserve | 130 | €17,100 | €17,100 | = | 0.0% |
| Distributable reserves | 133 | €7,419 | €7,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,497 | -€119,432 | -€12,934 | -12.1% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,873,245 | €1,733,068 | -€140,177 | -7.5% |
| Amounts payable after more than one year | 17 | €340,669 | €266,881 | -€73,788 | -21.7% |
| Financial debts | 170/4 | €340,669 | €266,881 | -€73,788 | -21.7% |
| Amounts payable within one year | 42/48 | €1,532,576 | €1,466,187 | -€66,389 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €71,896 | €73,788 | +€1,892 | +2.6% |
| Trade debts | 44 | €74,383 | €78,127 | +€3,744 | +5.0% |
| Suppliers | 440/4 | €74,383 | €78,127 | +€3,744 | +5.0% |
| Taxes, remuneration and social security | 45 | €1,237 | €4,209 | +€2,972 | +240% |
| Taxes | 450/3 | €737 | €3,709 | +€2,972 | +403% |
| Remuneration and social security | 454/9 | €499 | €499 | = | 0.0% |
| Other amounts payable | 47/48 | €1,385,060 | €1,310,063 | -€74,997 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,231 | €99,486 | -€1,744 | -1.7% |
| Other operating charges | 640/8 | €20,063 | €21,898 | +€1,835 | +9.1% |
| Gross operating margin | 9900 | €72,276 | €163,667 | +€91,392 | +126% |
| Operating profit (loss) | 9901 | -€49,018 | €42,283 | +€91,301 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.7% |
| Financial charges | 65/66B | €15,878 | €38,440 | +€22,562 | +142% |
| Recurring financial charges | 65 | €15,878 | €38,440 | +€22,562 | +142% |
| Profit (loss) for the period before taxes | 9903 | -€64,892 | €3,843 | +€68,735 | |
| Income taxes | 67/77 | - | -€47 | -€47 | |
| Profit (loss) for the period | 9904 | -€64,892 | €3,890 | +€68,782 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,892 | €3,890 | +€68,782 |
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 16 October 2026 via checked.be.