WVE & Co: 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.
WVE & Co
Largest movements
- Receivables within one year +€25,122
up €25,122 (+22.6%), from €110,937 to €136,058
of which Trade receivables: +€22,435
- Tangible fixed assets -€12,230
down €12,230 (-6.9%), from €176,241 to €164,011
of which Land and buildings: -€9,898
- Tax, wage and social debts +€15,768
up €15,768 (+121%), from €13,036 to €28,804
of which Taxes: +€18,545
- Debts after one year -€9,675
down €9,675 (-6.6%), from €145,790 to €136,115
- Other debts +€4,345
up €4,345 (+61.6%), from €7,054 to €11,400
- Gross operating margin -€13,757
down €13,757 (-17.0%), from €80,931 to €67,174
- Staff costs -€3,713
down €3,713 (-10.5%), from €35,289 to €31,576
- Financial charges -€2,970
down €2,970 (-41.8%), from €7,097 to €4,128
- Other operating charges -€2,735
down €2,735 (-53.5%), from €5,107 to €2,372
- Taxes -€875
down €875 (-21.3%), from €4,115 to €3,240
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 | €298,877 | €308,142 | +€9,266 | +3.1% |
| Fixed assets | 21/28 | €176,241 | €164,011 | -€12,230 | -6.9% |
| Tangible fixed assets | 22/27 | €176,241 | €164,011 | -€12,230 | -6.9% |
| Land and buildings | 22 | €161,056 | €151,158 | -€9,898 | -6.1% |
| Plant, machinery and equipment | 23 | €5,916 | €7,950 | +€2,034 | +34.4% |
| Furniture and vehicles | 24 | €9,269 | €4,904 | -€4,365 | -47.1% |
| Current assets | 29/58 | €122,635 | €144,131 | +€21,496 | +17.5% |
| Stocks and contracts in progress | 3 | €2,976 | €2,976 | = | 0.0% |
| Stocks | 30/36 | €2,976 | €2,976 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €110,937 | €136,058 | +€25,122 | +22.6% |
| Trade receivables | 40 | €101,071 | €123,506 | +€22,435 | +22.2% |
| Other amounts receivable | 41 | €9,865 | €12,552 | +€2,687 | +27.2% |
| Cash at bank and in hand | 54/58 | €3,575 | €1,105 | -€2,470 | -69.1% |
| Deferred charges and accrued income | 490/1 | €5,148 | €3,992 | -€1,156 | -22.4% |
| Total equity and liabilities | 10/49 | €298,877 | €308,142 | +€9,266 | +3.1% |
| Equity | 10/15 | €64,337 | €65,498 | +€1,161 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,737 | €46,898 | +€1,161 | +2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,397 | €1,397 | = | 0.0% |
| Distributable reserves | 133 | €42,480 | €43,641 | +€1,161 | +2.7% |
| Provisions and deferred taxes | 16 | €5,703 | €5,703 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,703 | €5,703 | = | 0.0% |
| Pensions and similar obligations | 160 | €5,703 | €5,703 | = | 0.0% |
| Amounts payable | 17/49 | €228,837 | €236,942 | +€8,105 | +3.5% |
| Amounts payable after more than one year | 17 | €145,790 | €136,115 | -€9,675 | -6.6% |
| Financial debts | 170/4 | €145,790 | €136,115 | -€9,675 | -6.6% |
| Amounts payable within one year | 42/48 | €83,047 | €100,827 | +€17,780 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €9,457 | €9,675 | +€218 | +2.3% |
| Trade debts | 44 | €53,500 | €50,948 | -€2,551 | -4.8% |
| Suppliers | 440/4 | €53,500 | €50,948 | -€2,551 | -4.8% |
| Taxes, remuneration and social security | 45 | €13,036 | €28,804 | +€15,768 | +121% |
| Taxes | 450/3 | €10,259 | €28,804 | +€18,545 | +181% |
| Remuneration and social security | 454/9 | €2,778 | - | -€2,778 | |
| Other amounts payable | 47/48 | €7,054 | €11,400 | +€4,345 | +61.6% |
| Remuneration, social security and pensions | 62 | €35,289 | €31,576 | -€3,713 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,282 | €20,358 | +€76 | +0.4% |
| Other operating charges | 640/8 | €5,107 | €2,372 | -€2,735 | -53.5% |
| Gross operating margin | 9900 | €80,931 | €67,174 | -€13,757 | -17.0% |
| Operating profit (loss) | 9901 | €20,253 | €12,868 | -€7,385 | -36.5% |
| Financial income | 75/76B | €80 | €6 | -€75 | -93.1% |
| Recurring financial income | 75 | €80 | €6 | -€75 | -93.1% |
| Financial charges | 65/66B | €7,097 | €4,128 | -€2,970 | -41.8% |
| Recurring financial charges | 65 | €7,097 | €4,128 | -€2,970 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €13,236 | €8,746 | -€4,490 | -33.9% |
| Income taxes | 67/77 | €4,115 | €3,240 | -€875 | -21.3% |
| Profit (loss) for the period | 9904 | €9,121 | €5,506 | -€3,615 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,121 | €5,506 | -€3,615 | -39.6% |
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 23 October 2026 via checked.be.