Swave
0781.441.007 · rovalta.com · 05/11/2026
ACTIVE
Swave
Financial year 2025 · Closed on 31/12/2025
Net result-12 M €-43,1 %over 1 year
Gross margin1,3 M €+103,0 %over 1 year
Equity20,8 M €-22,4 %over 1 year
Workforce19,9 ETP+54,3 %over 1 year
Overview
Identity
Source · BCE/KBOSwave is a Private limited company incorporated in 2022. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Leuven. It employs on average 19,9 ETP workers (FTE).
- Legal situation
- Normal situation
- BCE/KBO no. / VAT
- BE 0781.441.007
- Incorporation
- 01/02/2022
- Legal form
- Private limited company
- Registered office
- Gaston Geenslaan 10
3001 Leuven · FlandreSee on map - Contributed capital
- 46 405 959,54 €
- Latest accounts
- 31/12/2025
- Average workforce
- 19,9 ETP
Activities (NACE)
72109Research and experimental development on natural sciences and engineering· main72190Other research and experimental development on natural sciences and engineering74909Other professional, scientific and technical activities n.e.c.74999Other professional, scientific and technical activities n.e.c.
Joint committees (1)
- 20000
Signals
Solid equityLow riskGood liquidityHealthy social debts
Financials
Source · NBB, 3 filingsTrend over 3 financial years
| 2025 | 2024 | 2023 | |||
|---|---|---|---|---|---|
| Income statement | |||||
| Gross margin | 1,3 M € | +103% | 623,6 k € | +221% | 194 k € |
| EBITDA | -1,4 M € | -25.0% | -1,1 M € | -164% | -431,4 k € |
| Operating result | -12,4 M € | -42.0% | -8,7 M € | -58.4% | -5,5 M € |
| Net result | -12 M € | -43.1% | -8,4 M € | -61.1% | -5,2 M € |
| Balance sheet | |||||
| Equity | 20,8 M € | -22.4% | 26,8 M € | +390% | 5,5 M € |
| Total assets | 29,9 M € | -12.4% | 34,1 M € | +395% | 6,9 M € |
| Cash | 18,7 M € | -21.9% | 24 M € | +2336% | 983,7 k € |
| Debts | 5 M € | +12.9% | 4,4 M € | +211% | 1,4 M € |
| Other | |||||
| Workforce | 19,9 ETP | +54.3% | 12,9 ETP | +269% | 3,5 ETP |
Valuation
Indicative valuation
As an indication, this company is worth
between 10 M€ and 25 M€
See the valuationBoard of directors
Source · NBB, accounts to 31/12/20259 active · 3 ended
Active mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
Théodore Marescaux | Directorsince 02/06/2026 | ||
| Directorsince 19/06/2025 | |||
| Directorsince 18/12/2024 | |||
| Directorsince 18/12/2024 | |||
Tom Vanhoutte | Directorsince 08/07/2024 | ||
Michael Edward Noonen | Directorsince 06/06/2023 | ||
| Directorsince 14/06/2022 | |||
Pieter Vorenkamp | Directorsince 14/06/2022 | ||
| Director01/02/2022 → 02/06/2026 |
Ended mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
John Lemoncheck | Director06/06/2023 → 2023 accounts | ||
Michael Noonen | Director06/06/2023 → 2024 accounts | ||
Peter Vanbekbergen | Director14/06/2022 → 2023 accounts |
Other companies at this address
Gaston Geenslaan 10 3001 Leuven| Company | CBE no. |
|---|---|
Amexio Belgium● Active | 0474.190.339 |
EndoQ● Active | 1043.840.853 |
Essensium● Active | 0872.984.063 |
Mind OSS● Active | 1025.009.589 |
Swave Foundation● Active | 1042.466.126 |
Financials
Full financial information
Source · NBB| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/02/2022 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 |
| Length of the financial year | 12 months | 12 months | 23 months |
| Filing date | 26/06/2026 | 09/07/2025 | 14/06/2024 |
| General meeting | 02/06/2026 | 03/06/2025 | 04/06/2024 |
| Currency of the financial year | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls |
Financial ratios
Source · NBBLooking for more information about this company?
Try for freeAnnual accounts filings
Source · NBB, 3 filingsValuation
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 10 M€ and 25 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Board of directors
Source · NBB, accounts to 31/12/20259 active · 3 ended
Active mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
Théodore Marescaux | Directorsince 02/06/2026 | ||
| Directorsince 19/06/2025 | |||
| Directorsince 18/12/2024 | |||
| Directorsince 18/12/2024 | |||
Tom Vanhoutte | Directorsince 08/07/2024 | ||
Michael Edward Noonen | Directorsince 06/06/2023 | ||
| Directorsince 14/06/2022 | |||
Pieter Vorenkamp | Directorsince 14/06/2022 | ||
| Director01/02/2022 → 02/06/2026 |
Ended mandates
| Director | Mandates in this company | Period | Other mandatescurrentendedstruck offbankruptcies |
|---|---|---|---|
John Lemoncheck | Director06/06/2023 → 2023 accounts | ||
Michael Noonen | Director06/06/2023 → 2024 accounts | ||
Peter Vanbekbergen | Director14/06/2022 → 2023 accounts |
Ownership and network
Looking for more information about this company?
Try for freePublications
Belgian Official Gazette publications
Source · Belgian Official Gazette- Other25/09/2026STATUTEN (VERTALING, COORDINATIE, OVERIGE
- Mandates06/07/2026ONTSLAGEN, BENOEMINGEN
- Mandates02/07/2026DIVERSEN - ONTSLAGEN - BENOEMINGEN
- Registered office05/02/2026MAATSCHAPPELIJKE ZETEL
- Mandates30/06/2025STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
- Other04/04/2025DIVERSEN
- Mandates02/01/2025STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
- Mandates29/08/2024ONTSLAGEN - BENOEMINGEN
Similar companies
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
Source · CBE, NBB annual accountsYear
Identity
Incorporation
Name
Registered office
Annual accounts
Filings3 filings
Mandates
Théodore Marescaux
IAG CAPITAL FUND III, LP
Relaunch for the Future
QBIC VENTURE PARTNERS III
Tom Vanhoutte
Michael Edward Noonen
Participatiemaatschappij Vlaanderen
Pieter Vorenkamp
LightSail
John Lemoncheck
Michael Noonen
Peter Vanbekbergen
20222023202420252026
Swave
Gaston Geenslaan 10, 3001 HeverleeGaston Geenslaan 2, 3001 Heverlee
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday
Registered offices
Source · NBB annual accounts, CBE| Registered address | Period | Source |
|---|---|---|
| Gaston Geenslaan 10, 3001 HeverleeCurrent | accounts 2025 | Accounts 2025 · 2026-00220585 |
| Gaston Geenslaan 2, 3001 Heverlee | accounts 2023 → 2024 | Accounts 2024 · 2025-00268146 |
Company names
Source · NBB annual accounts, CBE| Name | Period | Source |
|---|---|---|
| SwaveCurrent | accounts 2023 → 2025 | Accounts 2025 · 2026-00220585 |
Events
- 2025Annual accounts 2025-12 M €↓
- 2024Annual accounts 2024-8,4 M €↓
- 2023Annual accounts 2023-5,2 M €
- 01/02/2022IncorporationPrivate limited company