C-WAVRE: what changed
C-WAVRE
Largest movements
- Cash +€88,826
up €88,826 (+188%), from €47,147 to €135,973
mainly Net result for the year (+€104,945) and Tax, wage and social debts (+€32,923)
- Receivables within one year +€41,114
up €41,114 (+145%), from €28,375 to €69,489
of which Other amounts receivable: +€43,355
- Intangible fixed assets +€7,293
up €7,293 (+26.1%), from €27,900 to €35,193
- Stocks and contracts +€5,167
up €5,167 (+582%), from €888 to €6,055
- Tangible fixed assets -€4,741
down €4,741 (-16.3%), from €29,155 to €24,414
of which Furniture and vehicles: -€4,032
- Reserves +€100,000
up €100,000 (+1,000%), from €10,000 to €110,000
- Tax, wage and social debts +€32,923
up €32,923 (+235%), from €14,026 to €46,949
of which Taxes: +€26,387
- Other debts -€17,867
down €17,867 (-32.9%), from €54,377 to €36,510
- Trade debts +€17,658
up €17,658 (+39.2%), from €45,004 to €62,662
- Profit (loss) carried forward +€4,945
up €4,945 (+1,877%), from €264 to €5,209
- Gross operating margin +€229,682
up €229,682 (+632%), from €36,355 to €266,037
- Staff costs +€101,341
up €101,341 (+574%), from €17,653 to €118,993
- Taxes +€27,495
up €27,495 (+2,017%), from €1,363 to €28,858
- Depreciation +€5,997
up €5,997 (+101%), from €5,946 to €11,942
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €133,671 | €271,330 | +€137,659 | +103% |
| Fixed assets | 21/28 | €57,261 | €59,813 | +€2,552 | +4.5% |
| Intangible fixed assets | 21 | €27,900 | €35,193 | +€7,293 | +26.1% |
| Tangible fixed assets | 22/27 | €29,155 | €24,414 | -€4,741 | -16.3% |
| Furniture and vehicles | 24 | €22,421 | €18,389 | -€4,032 | -18.0% |
| Other tangible fixed assets | 26 | €6,734 | €6,026 | -€709 | -10.5% |
| Financial fixed assets | 28 | €206 | €206 | = | 0.0% |
| Current assets | 29/58 | €76,410 | €211,517 | +€135,107 | +177% |
| Stocks and contracts in progress | 3 | €888 | €6,055 | +€5,167 | +582% |
| Stocks | 30/36 | €888 | €6,055 | +€5,167 | +582% |
| Amounts receivable within one year | 40/41 | €28,375 | €69,489 | +€41,114 | +145% |
| Trade receivables | 40 | €26,299 | €24,057 | -€2,241 | -8.5% |
| Other amounts receivable | 41 | €2,077 | €45,432 | +€43,355 | +2,088% |
| Cash at bank and in hand | 54/58 | €47,147 | €135,973 | +€88,826 | +188% |
| Total equity and liabilities | 10/49 | €133,671 | €271,330 | +€137,659 | +103% |
| Equity | 10/15 | €20,264 | €125,209 | +€104,945 | +518% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €110,000 | +€100,000 | +1,000% |
| Distributable reserves | 133 | €10,000 | €110,000 | +€100,000 | +1,000% |
| Profit (loss) carried forward | 14 | €264 | €5,209 | +€4,945 | +1,877% |
| Amounts payable | 17/49 | €113,408 | €146,121 | +€32,714 | +28.8% |
| Amounts payable within one year | 42/48 | €113,408 | €146,121 | +€32,714 | +28.8% |
| Trade debts | 44 | €45,004 | €62,662 | +€17,658 | +39.2% |
| Suppliers | 440/4 | €45,004 | €62,662 | +€17,658 | +39.2% |
| Taxes, remuneration and social security | 45 | €14,026 | €46,949 | +€32,923 | +235% |
| Taxes | 450/3 | €5,459 | €31,847 | +€26,387 | +483% |
| Remuneration and social security | 454/9 | €8,567 | €15,102 | +€6,535 | +76.3% |
| Other amounts payable | 47/48 | €54,377 | €36,510 | -€17,867 | -32.9% |
| Remuneration, social security and pensions | 62 | €17,653 | €118,993 | +€101,341 | +574% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,946 | €11,942 | +€5,997 | +101% |
| Other operating charges | 640/8 | €200 | €290 | +€90 | +45.0% |
| Gross operating margin | 9900 | €36,355 | €266,037 | +€229,682 | +632% |
| Operating profit (loss) | 9901 | €12,557 | €134,811 | +€122,254 | +974% |
| Financial income | 75/76B | - | €59 | +€59 | |
| Recurring financial income | 75 | - | €59 | +€59 | |
| Financial charges | 65/66B | €930 | €1,067 | +€137 | +14.7% |
| Recurring financial charges | 65 | €930 | €1,067 | +€137 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €11,627 | €133,803 | +€122,176 | +1,051% |
| Income taxes | 67/77 | €1,363 | €28,858 | +€27,495 | +2,017% |
| Profit (loss) for the period | 9904 | €10,264 | €104,945 | +€94,681 | +923% |
| Profit (loss) for the period to be appropriated | 9905 | €10,264 | €104,945 | +€94,681 | +923% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.