2 WAPPI ENGINEERING
ActiveSummary
2 WAPPI ENGINEERING has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €49,380 and a net result of -€4,093. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 79% of 9574 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-90
Solvency100▲+10
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 4.19 against 2.75 in 2024; short-term debt: 19.3% and cash: 53.4% of total assets), and 19.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
80.7%
Return on assets
-6.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-05-2026, 86 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
86 d early
2024
64 d early
2023
69 d early
2022
41 d early
2021
40 d early
2020
36 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 52 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€49,380▼ 22.6%
2024 · €63,826
Total assets
€61,153▼ 37.4%
2024 · €97,672
Net result
-€4,093
2024 · €34,462
Working capital
€37,582▼ 36.5%
2024 · €59,184
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€7,010▲ 55.7%€41,770€35,951▼ 13.9%€46,456▲ 29.2%-€3,646
Net result-€11,580below the sector's middle half▲ 43.0%€31,262within the sector's middle half€25,458within the sector's middle half▼ 18.6%€34,462within the sector's middle half▲ 35.4%-€4,093below the sector's middle half
Equity-€128below the sector's middle half€30,334within the sector's middle half€49,364within the sector's middle half▲ 62.7%€63,826within the sector's middle half▲ 29.3%€49,380within the sector's middle half▼ 22.6%
Total assets€75,238within the sector's middle half▼ 50.1%€91,629within the sector's middle half▲ 21.8%€85,969within the sector's middle half▼ 6.2%€97,672within the sector's middle half▲ 13.6%€61,153below the sector's middle half▼ 37.4%
Debt€75,366▼ 45.9%€61,295▼ 18.7%€36,605▼ 40.3%€33,846▼ 7.5%€11,773▼ 65.2%
Working capital-€4,883below the sector's middle half€26,224within the sector's middle half€41,997within the sector's middle half▲ 60.1%€59,184within the sector's middle half▲ 40.9%€37,582within the sector's middle half▼ 36.5%
Solvency-0.2%below the sector's middle half▼ 7.8pp33.1%within the sector's middle half▲ 33.3pp57.4%within the sector's middle half▲ 24.3pp65.3%within the sector's middle half▲ 7.9pp80.7%above the sector's middle half▲ 15.4pp
Current ratio0.94below the sector's middle half▼ 0.121.43within the sector's middle half▲ 0.492.15within the sector's middle half▲ 0.722.75within the sector's middle half▲ 0.604.19within the sector's middle half▲ 1.44
Return on assets (ROA)-15.4%below the sector's middle half▼ 1.9pp34.1%above the sector's middle half▲ 49.5pp29.6%above the sector's middle half▼ 4.5pp35.3%above the sector's middle half▲ 5.7pp-6.7%below the sector's middle half▼ 42.0pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,646 after €46,456 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €61,153
Fixed assets
€11,798 ▲ 154%
Current assets
€49,355 ▼ 46.9%
Equity and liabilities €61,153
Equity
€49,380 ▼ 22.6%
Debt
€11,773 ▼ 65.2%
Debt's share of the balance-sheet total falls from 34.7% to 19.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€130▼
2024 · €49,181
Cash flow
-€577▼
2024 · €37,187
Debt to equity
0.24▼
2024 · 0.53
ROE
-8.3%▼
2024 · 54.0%
Interest coverage
-0.19▼
2024 · 36.70
Debt ≤ 1 year
€11,773▼
2024 · €33,846
Income taxes
€238▼
2024 · €10,711
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,910 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,387 | €2,534 | €1,348 | €2,725 | €3,516 | ▲ 29.0% |
| Other operating charges640/8 | €10,938 | €348 | €662 | €387 | €619 | ▲ 59.9% |
| Gross operating margin9900 | €7,315 | €44,652 | €37,961 | €49,568 | €489 | ▼ 99.0% |
| Operating profit (loss)9901 | -€7,010 | €41,770 | €35,951 | €46,456 | -€3,646 | ▼ 108% |
| Financial income75/76B | €6 | €2 | €9 | €57 | €482 | ▲ 746% |
| Recurring financial income75 | €6 | €2 | €9 | €57 | €482 | ▲ 746% |
| Financial charges65/66B | €4,193 | €2,348 | €1,671 | €1,340 | €691 | ▼ 48.4% |
| Recurring financial charges65 | €4,193 | €2,348 | €1,671 | €1,340 | €691 | ▼ 48.4% |
| Profit (loss) for the period before taxes9903 | -€11,197 | €39,424 | €34,289 | €45,173 | -€3,855 | ▼ 109% |
| Income taxes67/77 | €383 | €8,162 | €8,831 | €10,711 | €238 | ▼ 97.8% |
| Profit (loss) for the period9904 | -€11,580 | €31,262 | €25,458 | €34,462 | -€4,093 | ▼ 112% |
| Profit (loss) for the period to be appropriated9905 | -€11,580 | €31,262 | €25,458 | €34,462 | -€4,093 | ▼ 112% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,238 | €91,629 | €85,969 | €97,672 | €61,153 | ▼ 37.4% |
| Fixed assets21/28 | €4,755 | €4,110 | €7,367 | €4,642 | €11,798 | ▲ 154% |
| Intangible fixed assets21 | €4,605 | €2,128 | €1,528 | €928 | €328 | ▼ 64.7% |
| Tangible fixed assets22/27 | - | €1,713 | €5,570 | €3,445 | €11,201 | ▲ 225% |
| Plant, machinery and equipment23 | - | €1,713 | €5,570 | €3,445 | €2,930 | ▼ 14.9% |
| Furniture and vehicles24 | - | - | - | - | €8,271 | - |
| Financial fixed assets28 | €150 | €269 | €269 | €269 | €269 | = |
| Current assets29/58 | €70,483 | €87,519 | €78,602 | €93,030 | €49,355 | ▼ 46.9% |
| Amounts receivable within one year40/41 | €63,858 | €65,720 | €53,188 | €40,334 | €14,410 | ▼ 64.3% |
| Trade receivables40 | €63,858 | €65,720 | €52,020 | €40,334 | €2,474 | ▼ 93.9% |
| Other amounts receivable41 | - | - | €1,168 | - | €11,936 | - |
| Cash at bank and in hand54/58 | €3,253 | €16,948 | €21,059 | €50,780 | €32,626 | ▼ 35.8% |
| Deferred charges and accrued income490/1 | €3,372 | €4,851 | €4,355 | €1,916 | €2,319 | ▲ 21.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,238 | €91,629 | €85,969 | €97,672 | €61,153 | ▼ 37.4% |
| Equity10/15 | -€128 | €30,334 | €49,364 | €63,826 | €49,380 | ▼ 22.6% |
| Contributions10/11 | €10,000 | €10,000 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €6,860 | €6,860 | €6,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €6,860 | €6,860 | €6,860 | = |
| Profit (loss) carried forward14 | -€11,988 | €18,474 | €23,904 | €38,366 | €23,920 | ▼ 37.7% |
| Amounts payable17/49 | €75,366 | €61,295 | €36,605 | €33,846 | €11,773 | ▼ 65.2% |
| Amounts payable within one year42/48 | €75,366 | €61,295 | €36,605 | €33,846 | €11,773 | ▼ 65.2% |
| Current portion of amounts payable after more than one year42 | €3,516 | - | - | - | - | - |
| Financial debts43 | €9,663 | - | - | - | - | - |
| Credit institutions430/8 | €9,663 | - | - | - | - | - |
| Trade debts44 | €4,259 | €7,732 | €13,073 | €1,284 | €1,286 | ▲ 0.2% |
| Suppliers440/4 | €4,259 | €7,732 | €13,073 | €1,284 | €1,286 | ▲ 0.2% |
| Taxes, remuneration and social security45 | €3,205 | €17,818 | €4,638 | €7,251 | €134 | ▼ 98.2% |
| Taxes450/3 | €545 | €16,650 | €1,826 | €7,251 | €134 | ▼ 98.2% |
| Remuneration and social security454/9 | €2,660 | €1,168 | €2,812 | - | - | - |
| Other amounts payable47/48 | €54,723 | €35,745 | €18,894 | €25,311 | €10,353 | ▼ 59.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,580 | €31,262 | €25,458 | €34,462 | -€4,093 | ▼ 112% |
| + Depreciation and write-downs630 | €3,387 | €2,534 | €1,348 | €2,725 | €3,516 | ▲ 29.0% |
| Operating cash flow (approximation) | -€8,193 | €33,796 | €26,806 | €37,187 | -€577 | ▼ 102% |
| Investment in fixed assets (approximation) | - | -€1,889 | -€4,605 | €0 | -€10,672 | - |
| Change in cash | - | €13,695 | €4,111 | €29,721 | -€18,154 | ▼ 161% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-05
State Gazette act
Resignation: Olivier Bardyn (non-statutory director)Appointment: Nicolas Bardyn (non-statutory director) · Registered-office move4 facts ▸
State Gazette act
Resignation: Olivier Bardyn (non-statutory director)
Appointment: Nicolas Bardyn (non-statutory director) · Registered-office move4 facts ▸
- General meeting, 13-03-2026
- Director resignation, Olivier Bardyn (non-statutory director)
- Director appointment, Nicolas Bardyn (non-statutory director)
- Registered-office move, 7620 Bléharies,Rue Lucien Delfosse 18
06-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €34,462 ▲35.4%
Operating result €46,456, net result €34,462, both a record.
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €31,262
Net result €31,262 after 2 loss-making years.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€20,306
Net result drops to -€20,306, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
BARDYN Nicolas
CurrentNon-statutory director · since 01-04-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brunehaut · 1 establishment unit since 2016
Ground area
248 m²
Building footprint
140 m²
Volume, LiDAR
1,332 m³
2 parcels, Wallonia · tallest building 12.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
2 WAPPI ENGINEERING
since 20162.255.863.969
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57010A0197/00B003 | Wallonia | 138 m² | 1 · 73 m² | 9.9 m · 3 fl. |
| 57462B0001/00W003 | Wallonia | 109 m² | 1 · 67 m² | 12.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BARDYN Nicolas |
|
| Olivier Bardyn |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
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Shareholding
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Of 11,567 companies in sector 71121 we hold annual accounts for 6,567. 4,885 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-08-2016
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
33200Installation of industrial machinery and equipment
Contact
Website
www.2wappi.be
E-mail
nicolas.bardyn@2wappi.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0661748549
Registered
24-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.