Dissolve yeast in warm water. Blend in 1 cup sifted flour and set in a warm place to rise until doubled in bulk.
Heat cream to the boiling point. Add the butter.
To first mixture add the rest of the flour, salt and sugar.
Beat the eggs until frothy and lemon-colored. To them add the brandy or cognac, the cream and butter mixture and the yeast mixture. Blend together thoroughly. Let rest in a cool place for 2½ hours.
Fill a well-greased, hot waffle iron 2/3 full of batter. When waffle is crisp and golden brown, remove and sprinkle with powdered sugar.
If you have not relegated waffles to breakfast use only, top these with fresh fruits or fruit preserves and whipped cream and think in lunch, brunch or Sunday-supper terms.