WAVE32: 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.
WAVE32
Largest movements
- Cash -€20,117
down €20,117 (-45.0%), from €44,729 to €24,612
mainly Net result for the year (-€20,354) and Tax, wage and social debts (-€11,515)
- Receivables within one year +€6,948
up €6,948 (+13.5%), from €51,521 to €58,468
of which Other amounts receivable: +€4,802
- Trade debts +€23,099
up €23,099 (+142%), from €16,250 to €39,349
- Profit (loss) carried forward -€20,354
down €20,354 (-94.0%), from €21,661 to €1,306
- Tax, wage and social debts -€11,515
down €11,515 (-100%), from €11,515 to €0
- Other debts -€5,344
down €5,344 (-17.9%), from €29,795 to €24,452
- Gross operating margin -€19,266
down €19,266, from €737 to -€18,529
- Other operating charges -€3,738
down €3,738 (-93.9%), from €3,982 to €244
- Depreciation +€214
up €214 (+36.8%), from €581 to €795
- Financial charges +€191
up €191 (+6.6%), from €2,875 to €3,066
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 | €99,681 | €85,567 | -€14,114 | -14.2% |
| Fixed assets | 21/28 | €3,432 | €2,487 | -€945 | -27.5% |
| Tangible fixed assets | 22/27 | €3,282 | €2,487 | -€795 | -24.2% |
| Plant, machinery and equipment | 23 | €3,282 | €2,487 | -€795 | -24.2% |
| Financial fixed assets | 28 | €150 | €0 | -€150 | -100% |
| Current assets | 29/58 | €96,249 | €83,080 | -€13,169 | -13.7% |
| Amounts receivable within one year | 40/41 | €51,521 | €58,468 | +€6,948 | +13.5% |
| Trade receivables | 40 | €41,079 | €43,224 | +€2,145 | +5.2% |
| Other amounts receivable | 41 | €10,442 | €15,244 | +€4,802 | +46.0% |
| Cash at bank and in hand | 54/58 | €44,729 | €24,612 | -€20,117 | -45.0% |
| Total equity and liabilities | 10/49 | €99,681 | €85,567 | -€14,114 | -14.2% |
| Equity | 10/15 | €42,121 | €21,766 | -€20,354 | -48.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,661 | €1,306 | -€20,354 | -94.0% |
| Amounts payable | 17/49 | €57,561 | €63,801 | +€6,240 | +10.8% |
| Amounts payable within one year | 42/48 | €57,561 | €63,801 | +€6,240 | +10.8% |
| Trade debts | 44 | €16,250 | €39,349 | +€23,099 | +142% |
| Suppliers | 440/4 | €16,250 | €39,349 | +€23,099 | +142% |
| Taxes, remuneration and social security | 45 | €11,515 | €0 | -€11,515 | -100% |
| Taxes | 450/3 | €11,515 | €0 | -€11,515 | -100% |
| Other amounts payable | 47/48 | €29,795 | €24,452 | -€5,344 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €581 | €795 | +€214 | +36.8% |
| Other operating charges | 640/8 | €3,982 | €244 | -€3,738 | -93.9% |
| Gross operating margin | 9900 | €737 | -€18,529 | -€19,266 | |
| Operating profit (loss) | 9901 | -€3,826 | -€19,568 | -€15,742 | -411% |
| Financial income | 75/76B | €2,382 | €2,280 | -€102 | -4.3% |
| Recurring financial income | 75 | €2,382 | €2,280 | -€102 | -4.3% |
| Financial charges | 65/66B | €2,875 | €3,066 | +€191 | +6.6% |
| Recurring financial charges | 65 | €2,875 | €3,066 | +€191 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,319 | -€20,354 | -€16,035 | -371% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€4,319 | -€20,354 | -€16,035 | -371% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,319 | -€20,354 | -€16,035 | -371% |
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 1 November 2026 via checked.be.