ACTIVE

nWave Studios

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Financial year 2025 · closed on 31/12/2025

Net result

-1,1 k €

-108.1% YoY

Revenue

1,6 M €

+19.0% YoY

Equity

2,9 M €

-0.0% YoY

Workforce

5,2 ETP

+36.8% YoY

What does nWave Studios do?

nWave Studios is a Public limited company incorporated in 1990. Its main activity is: Motion picture, video and television programme production activities. Its registered office is in Forest. It employs on average 5,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0441.838.364

Incorporation

21/10/1990

Legal form

Public limited company

Registered office

Rue des Alliés 282
1190 Forest · BruxellesSee on map

Contributed capital

637 928,03 €

Latest accounts

31/12/2025

Average workforce

5,2 ETP

Activities (NACE)

59111Motion picture, video and television programme production activities· main 59111Motion picture, video and television programme production activities 59113Motion picture, video and television programme production activities 59113Motion picture, video and television programme production activities 92111Gambling and betting activities 92113Gambling and betting activities

Joint committees (1)

Signals

Positive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Revenue	1,6 M €	+19.0%	1,3 M €	+22.8%	1,1 M €	-34.1%	1,6 M €	-7.0%	1,7 M €	+107%	842 k €	+5.3%	799,4 k €	-14.4%	933,7 k €	-28.1%	1,3 M €	+46.5%	885,9 k €	+12.1%	790,5 k €	-8.6%	864,6 k €	-15.0%	1 M €	+40.5%	724 k €	-30.5%	1 M €
EBITDA	226,4 k €	+35.0%	167,8 k €	-47.0%	316,6 k €	-61.5%	822,5 k €	-7.9%	893,2 k €	+12022%	-7,5 k €	-24.2%	-6 k €	-117%	36,5 k €	+65.8%	22 k €	-8.4%	24 k €	+44.8%	16,6 k €	-46.4%	31 k €	-74.8%	122,8 k €	+70.4%	72,1 k €	-39.6%	119,3 k €
Operating result	230 k €	+52.1%	151,2 k €	-43.1%	265,6 k €	-52.0%	553,5 k €	-10.9%	621,2 k €	+8391%	-7,5 k €	-24.2%	-6 k €	-117%	36,5 k €	+65.8%	22 k €	-8.4%	24 k €	+44.8%	16,6 k €	-46.4%	31 k €	-74.8%	122,8 k €	+70.4%	72,1 k €	-39.6%	119,3 k €
Net result	-1,1 k €	-108%	13,4 k €	-89.0%	121,9 k €	-66.8%	367,4 k €	-29.7%	522,4 k €	+1284%	-44,1 k €	-119%	-20,2 k €	-189%	22,6 k €	-16.7%	27,1 k €	-18.7%	33,4 k €	-50.8%	67,8 k €	+38.5%	48,9 k €	-70.2%	164,3 k €	+14.7%	143,2 k €	-2.2%	146,4 k €
Balance sheet
Equity	2,9 M €	-0.0%	2,9 M €	+0.3%	2,9 M €	+4.4%	2,8 M €	+15.4%	2,4 M €	+28.0%	1,9 M €	-2.3%	1,9 M €	-50.3%	3,8 M €	-56.4%	8,8 M €	+0.3%	8,8 M €	+0.4%	8,8 M €	+0.8%	8,7 M €	+0.6%	8,6 M €	+1.9%	8,5 M €	+1.7%	8,3 M €
Total assets	13,5 M €	-49.8%	26,8 M €	+69.7%	15,8 M €	+7.6%	14,7 M €	-13.7%	17 M €	+33.8%	12,7 M €	+16.8%	10,9 M €	-22.2%	14 M €	+55.7%	9 M €	+0.1%	9 M €	-4.8%	9,4 M €	-4.0%	9,8 M €	-4.3%	10,3 M €	+1.9%	10,1 M €	-1.2%	10,2 M €
Cash	420,9 k €	+71.3%	245,7 k €	-59.0%	599,8 k €	+0.8%	595,3 k €	-19.4%	738,1 k €	+4279%	16,9 k €	-94.4%	300,6 k €	-48.2%	580,3 k €	+910%	57,4 k €	+21.2%	47,4 k €	+157%	18,5 k €	+2.3%	18,1 k €	-36.7%	28,5 k €	-3.7%	29,6 k €	-90.7%	318,9 k €
Debts	10,6 M €	-55.8%	23,9 M €	+85.3%	12,9 M €	+8.5%	11,9 M €	-18.5%	14,6 M €	+34.6%	10,8 M €	+20.9%	9 M €	-11.6%	10,2 M €	+5982%	166,9 k €	-7.9%	181,2 k €	-72.8%	665,1 k €	-40.7%	1,1 M €	-30.5%	1,6 M €	+3.3%	1,6 M €	-15.5%	1,8 M €
Other
Workforce	5,2 ETP	+36.8%	3,8 ETP	-7.3%	4,1 ETP	+2.5%	4,0 ETP	0.0%	4,0 ETP	+8.1%	3,7 ETP	-7.5%	4,0 ETP	0.0%	4,0 ETP	0.0%	4,0 ETP	0.0%	4,0 ETP	0.0%	4,0 ETP	0.0%	4,0 ETP	+21.2%	3,3 ETP	+154%	1,3 ETP	+30.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 29 ended

Active mandates

JEROME DE BETHUNE

Director · since 20 juin 2025 · until 15 juin 2029

Active

MATTHIEU ZELLER

Managing director · since 20 juin 2025 · until 15 juin 2029

Active

OLIVIER SULPICE

Director · since 20 juin 2025 · until 15 juin 2029

Active

PATRICK VANDENBOSCH

Director · since 20 juin 2025 · until 15 juin 2029

Active

MATTHIEU GONDINET

Director · since 30 décembre 2022 · until 15 juin 2029

Active

WALLIMAGE

Director · since 30 décembre 2022 · until 15 juin 2029 · 0472.062.970

Represented by Virginie Nouvelle

Active

Ended mandates

MATTHIEU GONDINET

Director · since 30 décembre 2022 · until 15 juin 2028

Ended

WALLIMAGE

Director · since 30 décembre 2022 · until 15 juin 2028 · 0472.062.970

Represented by Virginie Nouvelle

Ended

BEN STASSEN

Director · since 14 septembre 2018 · until 16 juin 2025

Ended

CAROLINE VAN ISEGHEM

Director · since 14 septembre 2018 · until 16 juin 2025

Ended

At this address

Other companies at this address

Company	CBE no.
NWAVE PICTURES● Active	0877.097.556

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/09/2026	24/06/2025	11/07/2024	07/07/2023	17/06/2022	09/07/2021
General meeting	04/09/2026	19/06/2025	30/06/2024	30/06/2023	15/06/2022	09/07/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/09/2026	10/09/2026	French	PDF
Full model	31/12/2024	19/06/2025	24/06/2025	French	PDF
Full model	31/12/2023	30/06/2024	11/07/2024	French	PDF
Full model	31/12/2022	30/06/2023	07/07/2023	French	PDF
Full model	31/12/2021	15/06/2022	17/06/2022	French	PDF
Full model	31/12/2020	09/07/2021	09/07/2021	French	PDF
Full model	31/12/2019	15/06/2020	24/06/2020	French	PDF
Full model	31/12/2018	17/06/2019	19/06/2019	French	PDF
Full model	31/12/2017	28/05/2018	15/06/2018	French	PDF
Full model	31/12/2016	15/06/2017	19/06/2017	French	PDF
Full model	31/12/2015	15/06/2016	27/06/2016	French	PDF
Full model	31/12/2014	15/06/2015	22/06/2015	French	PDF
Full model	31/12/2013	16/06/2014	24/06/2014	French	PDF
Full model	31/12/2012	27/05/2013	18/06/2013	French	PDF
Full model	31/12/2011	21/06/2012	29/06/2012	French	PDF
Full model	31/12/2010	30/05/2011	12/07/2011	French	PDF
Full model	31/12/2009	15/06/2010	23/06/2010	French	PDF
Full model	31/12/2008	15/06/2009	22/06/2009	French	PDF
Full model	31/12/2007	25/01/2008	25/06/2008	French	PDF
Full model	31/12/2006	28/05/2007	18/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 29 ended

Active mandates

JEROME DE BETHUNE

Director · since 20 juin 2025 · until 15 juin 2029

Active

MATTHIEU ZELLER

Managing director · since 20 juin 2025 · until 15 juin 2029

Active

OLIVIER SULPICE

Director · since 20 juin 2025 · until 15 juin 2029

Active

PATRICK VANDENBOSCH

Director · since 20 juin 2025 · until 15 juin 2029

Active

MATTHIEU GONDINET

Director · since 30 décembre 2022 · until 15 juin 2029

Active

WALLIMAGE

Director · since 30 décembre 2022 · until 15 juin 2029 · 0472.062.970

Represented by Virginie Nouvelle

Active

Ended mandates

MATTHIEU GONDINET

Director · since 30 décembre 2022 · until 15 juin 2028

Ended

WALLIMAGE

Director · since 30 décembre 2022 · until 15 juin 2028 · 0472.062.970

Represented by Virginie Nouvelle

Ended

BEN STASSEN

Director · since 14 septembre 2018 · until 16 juin 2025

Ended

CAROLINE VAN ISEGHEM

Director · since 14 septembre 2018 · until 16 juin 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/03/2025
DEMISSIONS, NOMINATIONS
PDF
Other10/03/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates03/02/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates05/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/06/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates15/10/2021
DEMISSIONS, NOMINATIONS
PDF
Other25/08/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Restructuring25/08/2020
OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-1,1 k €↓
2024
Annual accounts 202413,4 k €↓
2022
Annual accounts 2022121,9 k €↓
2021
Annual accounts 2021367,4 k €↓
2020
Annual accounts 2020522,4 k €↑
2019
Annual accounts 2019-44,1 k €↓
2018
Annual accounts 2018-20,2 k €↓
2017
Annual accounts 201722,6 k €↓
2016
Annual accounts 201627,1 k €↓
2015
Annual accounts 201533,4 k €↓
2014
Annual accounts 201467,8 k €↑
2013
Annual accounts 201348,9 k €↓
2012
Annual accounts 2012164,3 k €↑
2011
Annual accounts 2011143,2 k €↓
2010
Annual accounts 2010146,4 k €
21/10/1990
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

nWave Studios

Overview

What does nWave Studios do?

Trend over 15 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline