ACTIVE

ZE WAVE

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Financial year 2025 · closed on 31/12/2025

Net result

98,4 k €

+32.0% YoY

Gross margin

120,9 k €

-14.4% YoY

Equity

643 k €

+11.0% YoY

What does ZE WAVE do?

ZE WAVE is a Private company with limited liability incorporated in 2004. Its main activity is: Computer consultancy activities. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0870.479.681

Incorporation

09/12/2004

Legal form

Private company with limited liability

Registered office

Coebergerstraat 49
2018 Antwerpen · FlandreSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 72100Research and experimental development on natural sciences and engineering

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	120,9 k €	-14.4%	141,2 k €	-25.7%	190,1 k €	-4.1%	198,1 k €	+58.8%	124,7 k €	+6.9%	116,7 k €	+7.5%	108,5 k €	-3.7%	112,7 k €	+148%	45,4 k €	+34.9%	33,6 k €	-47.0%	63,4 k €	+67.6%	37,9 k €	+0.7%	37,6 k €	+351%	8,3 k €	-28.1%	11,6 k €	-50.4%	23,4 k €	-44.1%	41,9 k €	+49.6%	28 k €	-38.9%	45,7 k €	-0.3%	45,9 k €
EBITDA	116,4 k €	-13.8%	135,1 k €	-28.0%	187,5 k €	-3.5%	194,3 k €	+61.3%	120,5 k €	+7.0%	112,6 k €	+7.7%	104,6 k €	-3.8%	108,8 k €	+162%	41,5 k €	+40.5%	29,6 k €	-50.2%	59,4 k €	+73.2%	34,3 k €	-0.2%	34,4 k €	+437%	6,4 k €	-37.7%	10,3 k €	-51.3%	21,1 k €	-40.9%	35,7 k €	+32.2%	27 k €	-39.4%	44,6 k €	-0.6%	44,8 k €
Operating result	84,7 k €	-18.7%	104,2 k €	-33.0%	155,4 k €	-5.0%	163,5 k €	+75.3%	93,3 k €	+9.7%	85 k €	+13.0%	75,3 k €	-4.8%	79,1 k €	+590%	11,5 k €	+1920%	567,5 €	-96.6%	16,6 k €	+291%	4,2 k €	-68.4%	13,4 k €	+160%	-22,3 k €	-142%	-9,2 k €	-179%	11,6 k €	-64.6%	32,9 k €	+35.1%	24,3 k €	-40.9%	41,1 k €	+1.6%	40,5 k €
Net result	98,4 k €	+32.0%	74,5 k €	-29.2%	105,2 k €	-4.3%	110 k €	+84.8%	59,5 k €	+14.2%	52,1 k €	+26.6%	41,1 k €	-32.5%	60,9 k €	+3202%	1,8 k €	+113%	-14,2 k €	-215%	12,3 k €	+184%	-14,6 k €	-250%	9,7 k €	+158%	-16,7 k €	-38.7%	-12 k €	-271%	7 k €	-69.9%	23,3 k €	+14.2%	20,4 k €	-33.5%	30,7 k €	+1.3%	30,3 k €
Balance sheet
Equity	643 k €	+11.0%	579 k €	+14.8%	504,5 k €	+26.4%	399,3 k €	+38.0%	289,3 k €	+25.0%	231,4 k €	+27.9%	180,9 k €	+28.7%	140,5 k €	+35.7%	103,6 k €	+1.8%	101,7 k €	-12.2%	115,9 k €	+11.9%	103,6 k €	-12.3%	118,2 k €	+9.0%	108,5 k €	-13.3%	125,2 k €	-8.8%	137,2 k €	+4.1%	131,7 k €	+19.7%	110 k €	+20.6%	91,2 k €	+46.9%	62,1 k €
Total assets	850,7 k €	+2.3%	831,8 k €	+6.1%	783,9 k €	+12.9%	694,5 k €	+22.2%	568,2 k €	+16.0%	490 k €	+11.5%	439,6 k €	+5.8%	415,4 k €	+19.6%	347,2 k €	+3.4%	335,9 k €	-0.6%	338 k €	+48.5%	227,6 k €	-1.8%	231,8 k €	+14.1%	203,1 k €	+0.0%	203 k €	-10.6%	226,9 k €	+12.2%	202,2 k €	+2.1%	198,1 k €	+24.2%	159,5 k €	+84.9%	86,2 k €
Cash	118,2 k €	+49.1%	79,3 k €	-74.7%	313,1 k €	+53.2%	204,4 k €	+85.1%	110,4 k €	-64.1%	307,2 k €	+24.2%	247,3 k €	+16.6%	212,1 k €	+105%	103,3 k €	+50.5%	68,6 k €	+73.3%	39,6 k €	+59.9%	24,8 k €	-12.8%	28,4 k €	+17950%	157,3 €	-72.4%	569,3 €	-83.8%	3,5 k €	+5097%	67,5 €	-99.7%	23,1 k €	+344%	5,2 k €	-91.7%	62,6 k €
Debts	203,5 k €	-17.9%	248 k €	-10.8%	278,1 k €	-5.6%	294,7 k €	+7.7%	273,5 k €	+9.0%	251 k €	+1.6%	247,1 k €	-6.6%	264,6 k €	+14.3%	231,6 k €	+2.8%	225,4 k €	+4.9%	214,9 k €	+79.1%	120 k €	+15.5%	103,8 k €	+17.6%	88,3 k €	+18.0%	74,8 k €	-14.0%	87 k €	+27.4%	68,3 k €	-19.2%	84,5 k €	+25.6%	67,3 k €	+180%	24 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Koert Van Espen

Director · since 09 décembre 2004

Active

Ended mandates

Koert Van Espen

Director · since 07 décembre 2004

Ended

Koert Van Espen

Manager · since 07 décembre 2004

Ended

Koert Van Espen

Director

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	04/06/2026	28/02/2025	02/08/2024	31/07/2023	27/07/2022	30/06/2021
General meeting	30/05/2026	13/02/2025	25/05/2024	24/06/2023	25/06/2022	26/06/2021
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
Micro model	31/12/2025	30/05/2026	04/06/2026	Dutch	PDF
Micro model	31/12/2024	13/02/2025	28/02/2025	Dutch	PDF
Micro model	31/12/2023	25/05/2024	02/08/2024	Dutch	PDF
Micro model	31/12/2022	24/06/2023	31/07/2023	Dutch	PDF
Micro model	31/12/2021	25/06/2022	27/07/2022	Dutch	PDF
Micro model	31/12/2020	26/06/2021	30/06/2021	Dutch	PDF
Micro model	31/12/2019	30/05/2020	03/06/2020	Dutch	PDF
Micro model	31/12/2018	25/05/2019	29/05/2019	Dutch	PDF
Micro model	31/12/2017	26/05/2018	06/06/2018	Dutch	PDF
Micro model	31/12/2016	27/05/2017	31/05/2017	Dutch	PDF
Abridged model	31/12/2015	28/05/2016	08/06/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	29/07/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	18/06/2014	Dutch	PDF
Abridged model	31/12/2012	25/05/2013	30/05/2013	Dutch	PDF
Abridged model	31/12/2011	26/05/2012	12/07/2012	Dutch	PDF
Abridged model	31/12/2010	28/05/2011	15/07/2011	Dutch	PDF
Abridged model	31/12/2009	29/05/2010	07/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/05/2009	24/06/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	27/06/2008	Dutch	PDF
Abridged model	31/12/2006	26/05/2007	26/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 active · 3 ended

Active mandates

Koert Van Espen

Director · since 09 décembre 2004

Active

Ended mandates

Koert Van Espen

Director · since 07 décembre 2004

Ended

Koert Van Espen

Manager · since 07 décembre 2004

Ended

Koert Van Espen

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office20/03/2008
MAATSCHAPPELIJKE ZETEL
PDF
Other22/12/2004
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202598,4 k €↑
2024
Annual accounts 202474,5 k €↓
2023
Annual accounts 2023105,2 k €↓
2022
Annual accounts 2022110 k €↑
2021
Annual accounts 202159,5 k €↑
2020
Annual accounts 202052,1 k €↑
2019
Annual accounts 201941,1 k €↓
2018
Annual accounts 201860,9 k €↑
2017
Annual accounts 20171,8 k €↑
2016
Annual accounts 2016-14,2 k €↓
2015
Annual accounts 201512,3 k €↑
2014
Annual accounts 2014-14,6 k €↓
2013
Annual accounts 20139,7 k €↑
2012
Annual accounts 2012-16,7 k €↓
2011
Annual accounts 2011-12 k €↓
2010
Annual accounts 20107 k €↓
2009
Annual accounts 200923,3 k €↑
2008
Annual accounts 200820,4 k €↓
2007
Annual accounts 200730,7 k €↑
2006
Annual accounts 200630,3 k €
09/12/2004
IncorporationPrivate company with limited liability

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

ZE WAVE

Overview

What does ZE WAVE do?

Trend over 20 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