Result
Back in profit in 2025, after a loss of €162,441 in 2024.
Back in profit in 2025, after a loss of €162,441 in 2024.
Green is investment, beige is depreciation.
Short-term debts rose from €231,324 to €270,949.
The 2019 accounts came latest: 60 days after the end of the period.
A director left. Latest change 10-07-2026 · 1 in office.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 43% of them on solvency, 69% on liquidity, 95% on profitability and 96% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,713 companies had the same profile as BBW has now. Each dot stands for 17 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BBW itself is lower: 0.1% within 12 months. It rests on far more data about BBW than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,713 companies, not a prediction for BBW. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is tight, with a current ratio of 1.14 (0.69 in 2024), below the usual 1.5. Short-term debt is 77.3% and cash 80.5% of total assets. 77.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 17 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| BBW Waterloo | €350,686 | €202,987 | 22.7% | - |
| AMELOT PROPERTIES Wavre | €316,953 | €262,205 | 48.6% | - |
| Alison Immo Messancy | €340,755 | €210,525 | 73.2% | - |
| EKKOFIN IMMO Mons | €357,845 | €208,247 | 48.4% | - |
| Casteels Vastgoed Merelbeke-Melle | €387,067 | €197,203 | 49.3% | - |
| Listings Antwerp | €340,059 | €184,999 | 56.0% | - |
| KEY CONSTRUCT Ternat | €366,893 | €239,699 | 47.1% | - |
These companies have the same main activity as BBW: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €317,000 and €387,000, founded between 2018 and 2019.
BBW files the micro format. That format states no turnover. The gross margin rose from €73,006 in 2019 to €202,987 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €350,000. Estimated: probably between €290,000 and €550,000.
Higher than 45% of 17,194 companies in 2025.
Higher than 50% of 16,491 companies in 2025.
Higher than 92% of 16,870 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
350,686 | 188,690 | 316,451 | 162,645 | 273,619 | 230,359 | 109,992 | |
21/28 |
42,038 | 29,741 | 39,928 | 48,080 | 49,902 | 43,547 | 20,812 | |
21 |
877 | 4,587 | 8,833 | 13,080 | 14,210 | 18,577 | 2,067 | |
22/27 |
40,561 | 24,554 | 30,495 | 34,400 | 35,092 | 24,370 | 18,746 | |
24 |
28,497 | 9,351 | 12,154 | 12,921 | 10,475 | 5,808 | 4,140 | |
26 |
12,065 | 15,203 | 18,341 | 21,479 | 24,617 | 18,562 | 14,605 | |
28 |
600 | 600 | 600 | 600 | 600 | 600 | - | |
29/58 |
308,648 | 158,949 | 276,523 | 114,565 | 223,717 | 186,813 | 89,180 | |
40/41 |
25,445 | 152,558 | 234,070 | 108,878 | 171,509 | 68,047 | 69,468 | |
40 |
6,316 | 134,106 | 190,897 | 53,823 | 128,045 | 64,514 | 43,705 | |
41 |
19,128 | 18,452 | 43,173 | 55,055 | 43,464 | 3,533 | 25,763 | |
54/58 |
282,430 | 5,816 | 41,099 | 4,886 | 51,252 | 118,345 | 19,080 | |
490/1 |
772 | 575 | 1,354 | 801 | 956 | 421 | 632 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
350,686 | 188,690 | 316,451 | 162,645 | 273,619 | 230,359 | 109,992 | |
10/15 |
79,737 | -42,634 | 119,807 | 45,969 | 119,133 | 72,891 | 15,384 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | - | 6,200 | - | - | |
100 |
- | - | - | - | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | 12,400 | 12,400 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | |
130 |
- | - | - | - | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | - | - | - | |
14 |
71,677 | -50,694 | 111,747 | 37,909 | 111,073 | 64,831 | 7,324 | |
17/49 |
270,949 | 231,324 | 196,644 | 116,676 | 154,486 | 157,468 | 94,609 | |
42/48 |
270,949 | 231,324 | 196,644 | 116,676 | 154,486 | 157,468 | 94,609 | |
44 |
63,095 | 102,614 | 78,077 | 52,427 | 77,984 | 92,038 | 72,556 | |
440/4 |
63,095 | 102,614 | 78,077 | 52,427 | 77,984 | 92,038 | 72,556 | |
45 |
14,961 | 16,542 | 32,049 | 5,004 | 10,970 | 36,470 | 14,938 | |
450/3 |
9,039 | 10,952 | 26,313 | - | 6,595 | 36,470 | 7,352 | |
454/9 |
5,922 | 5,590 | 5,736 | 5,004 | 4,375 | - | 7,587 | |
47/48 |
192,892 | 112,168 | 86,518 | 59,245 | 65,532 | 28,960 | 7,115 | |
| Income statement | ||||||||
76A |
- | - | 450 | - | - | - | - | |
9900 |
202,987 | -110,762 | 137,155 | 4,983 | 119,908 | 126,844 | 73,006 | |
62 |
44,818 | 44,690 | 44,951 | 38,976 | 50,903 | 46,376 | 58,169 | |
630 |
12,683 | 11,437 | 11,878 | 10,671 | 8,878 | 6,956 | 3,691 | |
631/4 |
0 | -8,264 | - | 26,850 | - | - | - | |
640/8 |
1,779 | 894 | 811 | 1,130 | 665 | 645 | 598 | |
66A |
- | - | - | - | 3,781 | 133 | - | |
9901 |
143,708 | -159,519 | 79,515 | -72,644 | 55,681 | 72,733 | 10,548 | |
75/76B |
277 | 510 | 545 | 652 | 434 | 32 | 233 | |
75 |
277 | 510 | 545 | 652 | 434 | 32 | 233 | |
65/66B |
4,118 | 3,432 | 2,601 | 1,021 | 838 | 369 | 127 | |
65 |
4,118 | 3,432 | 2,601 | 1,021 | 838 | 369 | 127 | |
9903 |
139,867 | -162,441 | 77,459 | -73,013 | 55,277 | 72,397 | 10,654 | |
67/77 |
17,495 | - | 3,620 | 151 | 9,035 | 14,889 | 1,470 | |
9904 |
122,371 | -162,441 | 73,839 | -73,164 | 46,242 | 57,508 | 9,184 | |
9905 |
122,371 | -162,441 | 73,839 | -73,164 | 46,242 | 57,508 | 9,184 | |
| Appropriation of the result | ||||||||
9906 |
71,677 | -50,694 | 111,747 | 37,909 | 111,073 | 64,831 | 9,184 | |
14P |
-50,694 | 111,747 | 37,908 | 111,073 | 64,831 | - | - | |
691/2 |
- | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | 1,860 | |
| Social balance sheet | ||||||||
9087 |
- | 1 | 0.8 | 1 | 1.6 | 1.9 | 2.2 | |
Hours worked1013 |
- | 1,292 | 1,281 | 1,273 | 1,751 | 2,918 | 3,789 | |
| Document | ||||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-08-2026.
2025 annual accounts filed 7 days after the deadline. Filed on 7 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00386476.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-08-2026 | 2026-00386476 | |
| 31-12-2024 | micro format | 12-09-2025 | 2025-00492911 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00155451 | |
| 31-12-2022 | micro format | 13-06-2023 | 2023-00122508 | |
| 31-12-2021 | micro format | 20-09-2022 | 2022-20431637 | |
| 31-12-2020 | micro format | 14-09-2021 | 2021-67100365 | |
| 31-12-2019 | micro format | 29-09-2020 | 2020-56600071 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 156,391 | -148,082 | 91,393 | -61,973 | 64,559 | 79,689 | 14,239 | ||
| 135,054 | -151,004 | 85,717 | -62,493 | 55,120 | 64,464 | 12,875 | ||
| 24,980 | 1,250 | 3,726 | 8,849 | 15,233 | 29,691 | 24,504 | ||
| 276,614 | -35,283 | 36,213 | -46,366 | -67,093 | 99,264 | - | ||
| 37,699 | -72,375 | 79,879 | -2,111 | 69,231 | 29,345 | -5,429 | ||
| 22.7% | -22.6% | 37.9% | 28.3% | 43.5% | 31.6% | 14.0% | ||
| 1.14 | 0.69 | 1.41 | 0.98 | 1.45 | 1.19 | 0.94 | ||
| 3.40 | - | 1.64 | 2.54 | 1.30 | 2.16 | 6.15 | ||
| 153.5% | - | 61.6% | -159.2% | 38.8% | 78.9% | 59.7% | ||
| 34.9% | -86.1% | 23.3% | -45.0% | 16.9% | 25.0% | 8.3% | ||
| 37.98 | -43.15 | 35.14 | -60.70 | 77.04 | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 | 0.8 | 0.8 |
| 0.8 | 0.8 | 0.8 | 1.1 | |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | - | - | - | 2 |
| Left | - | - | - | 1 |
Source: social balance sheet in the 2021 to 2024 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €24,980 | €1,250 | €3,726 | €6,109 | €15,233 |
| Intangible fixed assets | - | - | - | €2,740 | - |
| Financial fixed assets | €0 | - | - | - | - |
| €12,683 | €11,437 | €11,878 | €10,671 | €8,878 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €143,708, after a loss of €159,519 in 2024. It is the highest result since 2019.
Debt's share of the balance-sheet total is 77.3%.
1 other company of this director went bankrupt (2019).
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it.
BBW has no parent and no holdings in its annual accounts. Nyco is the only director.
| Carl Software Benelux
registered office since 18-03-2013 · founded in 2013 |
4 FTE (2025) 0521.919.287 |
| NYCO
registered office since 26-07-2002 · founded in 2002 |
total assets €785,576 (2025) 0476.885.553 |
| Hillewaere Real Estate Brussels
establishment since 03-09-2025 · founded in 2024 · negative equity (2025) · group Hillewaere Group Belgium |
0.3 FTE (2025) 1008.898.978 |
| JR ARCHITECTURES
registered office since 02-12-2016 · founded in 2016 |
total assets €94,995 (2025) 0666.883.314 |
| SISTEMA
registered office since 30-01-2020 · founded in 2020 · negative equity (2025) |
total assets €37,712 (2025) 0742.727.119 |
| MS Consult
establishment since 11-03-2021 |
founded in 2021 0764.903.990 |
| MS Consult via COUSSEMENT Marie-Sophie, at BBW until 2026 · Manager · deed of 15-03-2021 |
founded in 2021 |
| JLC PROPERTIES via Paquet Olivier Marc Jean Pierre Marie Philippe, at BBW, last mentioned in 2019 · Director (not named in the articles) · deed of 14-02-2022 No longer active |
total assets €141,253 (2023) |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Drève Richelle 118 registered office 1410 Waterloo 68110 Buying and selling of own real estate | 20-03-2019 | 2.290.391.714 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25763M0359/00A000 | 928 m² | 1 · 176 m² | 6.4 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0722.948.720
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