BARWAL
ActiveSummary
The computed 12-month bankruptcy probability of BARWAL is 2.2% (moderate). The 2025 annual accounts show equity of €35,301 and a net result of -€17,328. Equity is growing by ~30.3% per year across the filed fiscal years. Its solvency ranks better than 44% of 18626 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability3▼-97
Solvency51▼-16
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.6 against 2.9 in 2024; short-term debt: 62.4% and cash: 79.8% of total assets), but 73.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
26.4%
Return on assets
-13%
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 16-07-2026, 15 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
15 d early
2024
13 d early
2023
30 d late
2022
12 d early
2021
24 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 3 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 19 July (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€35,301▼ 32.9%
2024 · €52,629
Total assets
€133,537▲ 5.7%
2024 · €126,361
Net result
-€17,328
2024 · €34,963
Working capital
€49,750▼ 39.5%
2024 · €82,201
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3,700-€5,195▲ 40.4%€7,982▲ 53.7%€49,484▲ 520%-€14,286
Net result€2,570within the sector's middle half-€3,057within the sector's middle half▲ 19.0%€2,040within the sector's middle half▼ 33.3%€34,963above the sector's middle half▲ 1,614%-€17,328below the sector's middle half
Equity€12,570within the sector's middle half-€15,627within the sector's middle half▲ 24.3%€17,667within the sector's middle half▲ 13.1%€52,629within the sector's middle half▲ 198%€35,301within the sector's middle half▼ 32.9%
Total assets€25,819below the sector's middle half-€119,139within the sector's middle half▲ 361%€98,216within the sector's middle half▼ 17.6%€126,361within the sector's middle half▲ 28.7%€133,537within the sector's middle half▲ 5.7%
Debt€13,249-€103,512▲ 681%€80,550▼ 22.2%€73,732▼ 8.5%€98,236▲ 33.2%
Working capital€12,570within the sector's middle half-€56,714within the sector's middle half▲ 351%€63,002within the sector's middle half▲ 11.1%€82,201within the sector's middle half▲ 30.5%€49,750within the sector's middle half▼ 39.5%
Solvency48.7%within the sector's middle half-13.1%within the sector's middle half▼ 35.6pp18.0%within the sector's middle half▲ 4.9pp41.6%within the sector's middle half▲ 23.7pp26.4%within the sector's middle half▼ 15.2pp
Current ratio1.95within the sector's middle half-1.91within the sector's middle half▼ 0.042.79above the sector's middle half▲ 0.882.90above the sector's middle half▲ 0.111.60within the sector's middle half▼ 1.30
Return on assets (ROA)10.0%within the sector's middle half-2.6%within the sector's middle half▼ 7.4pp2.1%within the sector's middle half▼ 0.5pp27.7%above the sector's middle half▲ 25.6pp-13.0%below the sector's middle half▼ 40.6pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 €14,286 after €49,484 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €133,537
Fixed assets
€396 ▼ 50.0%
Current assets
€133,141 ▲ 6.0%
Equity and liabilities €133,537
Equity
€35,301 ▼ 32.9%
Debt
€98,236 ▲ 33.2%
Debt's share of the balance-sheet total rises from 58.4% to 73.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€13,890▼
2024 · €49,880
Cash flow
-€16,933▼
2024 · €35,359
Quick ratio
1.47▼
2024 · 1.64
Debt to equity
2.78▲
2024 · 1.40
ROE
-49.1%▼
2024 · 66.4%
Interest coverage
-4.50▼
2024 · 12.55
Debt ≤ 1 year
€83,391▲
2024 · €43,369
Debt > 1 year
€14,845▼
2024 · €30,363
Income taxes
€32▼
2024 · €10,545
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,133 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
6.4%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% 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 497,338 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% | 1.9% |
| 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 1,133 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 | €2,935 | €0 | - | €396 | €396 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €615 | - | - |
| Other operating charges640/8 | €804 | €104 | €96 | €96 | €496 | ▲ 416% |
| Gross operating margin9900 | €7,439 | €5,299 | €8,078 | €50,591 | -€13,394 | ▼ 126% |
| Operating profit (loss)9901 | €3,700 | €5,195 | €7,982 | €49,484 | -€14,286 | ▼ 129% |
| Financial income75/76B | - | €99 | - | - | €75 | - |
| Recurring financial income75 | - | €99 | - | - | €75 | - |
| Financial charges65/66B | €424 | €1,439 | €5,086 | €3,976 | €3,086 | ▼ 22.4% |
| Recurring financial charges65 | €424 | €1,439 | €5,086 | €3,976 | €3,086 | ▼ 22.4% |
| Profit (loss) for the period before taxes9903 | €3,276 | €3,855 | €2,897 | €45,508 | -€17,297 | ▼ 138% |
| Income taxes67/77 | €706 | €798 | €857 | €10,545 | €32 | ▼ 99.7% |
| Profit (loss) for the period9904 | €2,570 | €3,057 | €2,040 | €34,963 | -€17,328 | ▼ 150% |
| Profit (loss) for the period to be appropriated9905 | €2,570 | €3,057 | €2,040 | €34,963 | -€17,328 | ▼ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25,819 | €119,139 | €98,216 | €126,361 | €133,537 | ▲ 5.7% |
| Fixed assets21/28 | - | - | - | €792 | €396 | ▼ 50.0% |
| Tangible fixed assets22/27 | - | - | - | €792 | €396 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €792 | €396 | ▼ 50.0% |
| Current assets29/58 | €25,819 | €119,139 | €98,216 | €125,569 | €133,141 | ▲ 6.0% |
| Stocks and contracts in progress3 | - | €92,687 | €44,572 | €54,661 | €10,301 | ▼ 81.2% |
| Stocks30/36 | - | €92,687 | €44,572 | €54,661 | €10,301 | ▼ 81.2% |
| Amounts receivable within one year40/41 | €7,780 | €2,880 | €22,461 | €27,739 | €16,271 | ▼ 41.3% |
| Trade receivables40 | €7,749 | €2,880 | €22,461 | €27,599 | €16,271 | ▼ 41.0% |
| Other amounts receivable41 | €32 | €0 | - | €139 | - | - |
| Cash at bank and in hand54/58 | €18,038 | €22,920 | €30,461 | €42,676 | €106,569 | ▲ 150% |
| Deferred charges and accrued income490/1 | - | €653 | €722 | €494 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25,819 | €119,139 | €98,216 | €126,361 | €133,537 | ▲ 5.7% |
| Equity10/15 | €12,570 | €15,627 | €17,667 | €52,629 | €35,301 | ▼ 32.9% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €2,570 | €5,627 | €7,667 | €42,629 | €25,301 | ▼ 40.6% |
| Amounts payable17/49 | €13,249 | €103,512 | €80,550 | €73,732 | €98,236 | ▲ 33.2% |
| Amounts payable after more than one year17 | - | €41,038 | €45,335 | €30,363 | €14,845 | ▼ 51.1% |
| Financial debts170/4 | - | €41,038 | €45,335 | €30,363 | €14,845 | ▼ 51.1% |
| Amounts payable within one year42/48 | €13,249 | €62,425 | €35,215 | €43,369 | €83,391 | ▲ 92.3% |
| Current portion of amounts payable after more than one year42 | - | €8,212 | €15,703 | €16,379 | €16,877 | ▲ 3.0% |
| Trade debts44 | €11,225 | €45,973 | €12,214 | €5,698 | €64,653 | ▲ 1,035% |
| Suppliers440/4 | €11,225 | €45,973 | €9,431 | €5,698 | €64,653 | ▲ 1,035% |
| Bills of exchange payable441 | - | - | €2,783 | - | - | - |
| Advances received on contracts in progress46 | - | €236 | - | - | - | - |
| Taxes, remuneration and social security45 | €2,024 | €8,005 | €7,298 | €20,942 | €1,860 | ▼ 91.1% |
| Taxes450/3 | €2,024 | €8,005 | €7,298 | €20,942 | €1,860 | ▼ 91.1% |
| Other amounts payable47/48 | - | - | - | €349 | - | - |
| Accrued charges and deferred income492/3 | - | €49 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,570 | €3,057 | €2,040 | €34,963 | -€17,328 | ▼ 150% |
| + Depreciation and write-downs630 | €2,935 | €0 | - | €396 | €396 | = |
| Operating cash flow (approximation) | €5,505 | €3,057 | €2,040 | €35,359 | -€16,933 | ▼ 148% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | €4,881 | €7,542 | €12,214 | €63,893 | ▲ 423% |
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
20-07
State Gazette act
Resignation: GUIBAVAL (director)Permanent representative: Didier MATTIVI · Share transfer · Shareholding7 facts ▸
State Gazette act
Resignation: GUIBAVAL (director)
Permanent representative: Didier MATTIVI · Share transfer · Shareholding7 facts ▸
- General meeting, 30-12-2025
- Director resignation, GUIBAVAL (director)
- Permanent representative, Didier MATTIVI (permanent representative)
- Share transfer, Didier MATTIVI → Hugues DE PRA
- Shareholding, 30-12-2025, 90
- Shareholding, 30-12-2025, 5
- Shareholding, 30-12-2025, 5
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€17,328
Net result drops to -€17,328, the lowest in the series.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2021net €34,963 ▲1,614%
Operating result €49,484, net result €34,963, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has 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, Orp-Jauche · 1 establishment unit since 2020
Ground area
2,385 m²
Building footprint
117 m²
Parcel 25029A0508/00A000, Wallonia. Linked by address, not a title deed.
1 establishment unit
BARWAL
since 20202.308.560.903
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25029A0508/00A000 | Wallonia | 2,385 m² | 1 · 117 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| GUIBAVAL |
|
Structure & network
Connections & network
No current directors or connected companies found in the register.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 20-07-2026 ↗
- Hugues DE PRA 90 shares
- VIARD Jérôme 5 shares
- FOURNAISE Jérôme 5 shares
Share transfer
act of 20-07-2026 ↗
- Didier MATTIVI to Hugues DE PRA
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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ARTEMIS
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TRIUMVIR
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Of 2,335 companies in sector 47251 we hold annual accounts for 422. 303 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
Founded03-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
47251Retail sale of wines and spirits
70200Business and other management consultancy
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0753670697
Also
9925:BE0753670697
Registered
18-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.