BEWARRANT
ActiveSummary
BEWARRANT has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €98,688 and a net result of €4,671. Equity is growing by about 19% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.3% (very low).
Financials · financial year 2025, micro format
Equity
€98,688▲ 5.0%
2024 · €94,017
Total assets
€2.3m▲ 34.1%
2024 · €1.7m
Net result
€4,671▼ 55.2%
2024 · €10,419
Working capital
€1.4m▼ 15.1%
2024 · €1.6m
Trend over the years
2020 to 2025, 5 financial years 2018 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 39% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.009m
2025
Net result€0.005m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€2.3m
2025
Equity€0.1m
2025
Debt€2.2m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1.4m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220242025
Operating result€0.04m-€0.02m▼ 60.9%€0.005m▼ 72.6%€0.005m▲ 14.5%€0.04m▲ 640%€0.01m-€0.009m▼ 39.1%
Net result€0.03m-€0.01m▼ 63.8%€0.003m▼ 78.1%€0.005m▲ 100%€0.03m▲ 452%€0.01m-€0.005m▼ 55.2%
Equity€0.03m-€0.04m▲ 35.7%€0.05m▲ 5.8%€0.05m▲ 10.9%€0.08m▲ 54.2%€0.09m-€0.1m▲ 5.0%
Total assets€0.6m-€0.8m▲ 43.4%€0.9m▲ 16.4%€0.6m▼ 36.1%€0.8m▲ 27.0%€1.7m-€2.3m▲ 34.1%
Debt€0.5m-€0.8m▲ 43.9%€0.9m▲ 17.0%€0.6m▼ 38.6%€0.7m▲ 24.4%€1.6m-€2.2m▲ 35.8%
Working capital€0.5m-€0.7m▲ 37.2%€0.9m▲ 26.3%€0.6m▼ 39.7%€0.7m▲ 25.7%€1.6m-€1.4m▼ 15.1%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.3m
Fixed assets
€67,026 ▲ 555%
Current assets
€2.2m ▲ 31.0%
Equity and liabilities €2.3m
Equity
€98,688 ▲ 5.0%
Debt
€2.2m ▲ 35.8%
Debt's share of the balance-sheet total rises from 94.5% to 95.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€14,811▼
2024 · €20,417
Cash flow
€10,767▼
2024 · €16,516
Current ratio
2.64▼
2024 · 24.26
Debt to equity
22.35▲
2024 · 17.28
ROE
4.7%▼
2024 · 11.1%
ROA
0.2%▼
2024 · 0.6%
Interest coverage
44.02▼
2024 · over 100
Debt ≤ 1 year
€846,768▲
2024 · €70,419
Income taxes
€3,708▼
2024 · €3,793
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95.6% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.0%
went bankrupt
2.1%
stopped otherwise
95.6%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,474 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 74.5% 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 1,448 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €2,580 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,144 | €4,144 | €4,144 | - | - | €6,097 | €6,097 | = |
| Gross operating margin9900 | €47,094 | €20,923 | €8,972 | €5,272 | €39,039 | €20,417 | €14,811 | ▼ 27.5% |
| Operating profit (loss)9901 | €42,951 | €16,780 | €4,603 | €5,272 | €39,039 | €14,320 | €8,715 | ▼ 39.1% |
| Recurring financial income75 | €5 | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €108 | €182 | €108 | €337 | ▲ 212% |
| Recurring financial charges65 | €186 | €297 | €123 | €108 | €182 | €108 | €337 | ▲ 212% |
| Profit (loss) for the period before taxes9903 | €42,770 | €16,483 | €4,480 | €5,164 | €38,856 | €14,212 | €8,378 | ▼ 41.0% |
| Income taxes67/77 | €10,726 | €4,876 | €1,939 | €80 | €10,810 | €3,793 | €3,708 | ▼ 2.2% |
| Profit (loss) for the period9904 | €32,044 | €11,607 | €2,541 | €5,084 | €28,046 | €10,419 | €4,671 | ▼ 55.2% |
| Profit (loss) for the period to be appropriated9905 | €32,044 | €11,607 | €2,541 | €5,084 | €28,046 | €10,419 | €4,671 | ▼ 55.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.6m | €0.8m | €0.9m | €0.6m | €0.8m | €1.7m | €2.3m | ▲ 34.1% |
| Fixed assets21/28 | €0.008m | €0.004m | - | - | - | €0.01m | €0.07m | ▲ 555% |
| Intangible fixed assets21 | €0.008m | €0.004m | - | - | - | €0.009m | €0.003m | ▼ 63.2% |
| Tangible fixed assets22/27 | - | - | - | - | - | €0.001m | €0.001m | ▼ 32.4% |
| Furniture and vehicles24 | - | - | - | - | - | €0.001m | €0.001m | ▼ 32.4% |
| Financial fixed assets28 | - | - | - | - | - | €200 | €0.06m | ▲ 31,445% |
| Current assets29/58 | €0.6m | €0.8m | €0.9m | €0.6m | €0.8m | €1.7m | €2.2m | ▲ 31.0% |
| Amounts receivable within one year40/41 | €0.006m | €0.004m | €0.005m | €0.09m | €0.04m | €0.06m | €0.03m | ▼ 53.5% |
| Trade receivables40 | - | - | - | €0.08m | €0.03m | €0.03m | €0.03m | = |
| Other amounts receivable41 | - | - | - | €0.008m | €0.009m | €0.04m | €0.003m | ▼ 91.4% |
| Cash at bank and in hand54/58 | €0.6m | €0.8m | €0.9m | €0.5m | €0.7m | €1.6m | €2.2m | ▲ 34.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.6m | €0.8m | €0.9m | €0.6m | €0.8m | €1.7m | €2.3m | ▲ 34.1% |
| Equity10/15 | €0.03m | €0.04m | €0.05m | €0.05m | €0.08m | €0.09m | €0.1m | ▲ 5.0% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.02m | €0.03m | €0.03m | €0.04m | €0.07m | €0.08m | €0.08m | ▲ 5.9% |
| Amounts payable17/49 | €0.5m | €0.8m | €0.9m | €0.6m | €0.7m | €1.6m | €2.2m | ▲ 35.8% |
| Amounts payable within one year42/48 | €0.02m | €0.07m | €0.01m | €0.04m | €0.06m | €0.07m | €0.8m | ▲ 1,102% |
| Trade debts44 | €0.002m | €0.03m | €0.006m | €0.01m | €0.03m | €0.04m | €0.07m | ▲ 83.7% |
| Suppliers440/4 | - | - | - | €0.01m | €0.03m | €0.04m | €0.07m | ▲ 83.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.04m | €0.03m | €0.02m | ▼ 46.3% |
| Taxes450/3 | - | - | - | €0.006m | €0.01m | €0.006m | €0.003m | ▼ 37.4% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.03m | €0.03m | €0.01m | ▼ 48.1% |
| Other amounts payable47/48 | - | - | - | €27 | €27 | €27 | €0.8m | ▲ 2,834,954% |
| Accrued charges and deferred income492/3 | - | - | - | €0.5m | €0.6m | €1.6m | €1.4m | ▼ 12.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,044 | €11,607 | €2,541 | €5,084 | €28,046 | €10,419 | €4,671 | ▼ 55.2% |
| + Depreciation and write-downs630 | €4,144 | €4,144 | €4,144 | - | - | €6,097 | €6,097 | = |
| Operating cash flow (approximation) | €36,187 | €15,751 | €6,685 | €5,084 | €28,046 | €16,516 | €10,767 | ▼ 34.8% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - | -€62,889 | - |
| Change in cash | - | €251,157 | €136,439 | -€423,714 | €214,110 | - | €561,624 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00386276 |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00469689 |
| 31-12-2022 | micro format | 09-10-2023 | 2023-00477842 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20427016 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64900174 |
| 31-12-2019 | micro format | 31-10-2020 | 2020-67700499 |
| 31-12-2018 | micro format | 31-08-2019 | 2019-62500485 |
| 31-12-2017 | micro format | 29-08-2018 | 2018-61100265 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-59900442 |
| 31-12-2015 | full format | 13-09-2016 | 2016-59600226 |
Subsidies and aid
European Union, budget
2022 to 2025 · 23 entries · €4.8m in total| Year | Entries | Awarded |
|---|---|---|
| 2025 | 6 | €1.0m |
| 2024 | 3 | €0.6m |
| 2023 | 5 | €1.4m |
| 2022 | 9 | €1.8m |
Projects
HYDRA - HYDROGEN ECONOMY BENEFITS AND RISKS: TOOLS DEVELOPMENT AND POLICIES IMPLEMENTATION TO MITIGATE POSSIBLE CLIMATE IMPACTS
TENTACLE - INNOVATIVE IN SITU 4D BIOPRINTING FOR REGENERATION OF COLORECTAL MUCOSA AND SUBMUCOSA
AURORA - ARTWORK UNIQUE RECOGNITION AND TRACKING THROUGH CHEMICAL ENCODED DATA, MINIATURIZED DEVICES AND BLOCKCHAIN ALLIANCE
INPHOMIR - INDIUM PHOSPHIDE-BASED ADVANCED MONOLITHICALLY INTEGRATED PHOTONIC BUILDING-BLOCKS AT NEAR AND MID-INFRARED WAVELENGTHS
ECHO - EFFICIENT COMPACT MODULAR THERMAL ENERGY STORAGE SYSTEM
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REBORN - REMODELLING OF THE INFARCTED HEART: PIEZOELECTRIC MULTIFUNCTIONAL PATCH ENABLING THE SEQUENTIAL RELEASE OF THERAPEUTIC FACTORS
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TOLIFE - COMBINING ARTIFICIAL INTELLIGENCE AND SMART SENSING TOWARD BETTER MANAGEMENT AND IMPROVED QUALITY OF LIFE IN CHRONIC OBSTRUCTIVE PULMONARY DISEASE
ACTION GRANT
ONEBAT - ONE HEALTH APPROACH TO UNDERSTAND, PREDICT AND PREVENT VIRAL EMERGENCIES FROM BATS
BIODEGRADABLE PACKAGING MATERIALS ADVANCING CIRCULARITY, SUSTAINABILITY & ECO-INNOVATION
GREENART - GREEN ENDEAVOR IN ART RESTORATION
COMBINING ARTIFICIAL INTELLIGENCE AND SMART SENSING TOWARD BETTER MANAGEMENT AND IMPROVED QUALITY OF LIFE IN CHRONIC OBSTRUCTIVE PULMONARY DISEASE
NEXTOWER - ADVANCED MATERIALS SOLUTIONS FOR NEXT GENERATION HIGH EFFICIENCY CONCENTRATED SOLAR POWER (CSP) TOWER SYSTEMS
European research
21 projects · 1 as coordinator · €4.6m EU contributionProgrammes
Projects
HYDROGEN ECONOMY BENEFITS AND RISKS: TOOLS DEVELOPMENT AND POLICIES IMPLEMENTATION TO MITIGATE POSSIBLE CLIMATE IMPACTS
InnovaTivE in situ 4D biopriNTing for regenerAtion of CoLorEctal mucosa and submucosa
Artwork Unique RecognitiOn and tRacking through chemicAl encoded data, miniaturized devices and blockchain alliance
Emissions mitigatioN tHrough cArboN CapturE froM bioENergy and its application in hard to abaTe industry
INdium PHOsphide-based advanced Monolithically integrated photonic building-blocks at near and mid-InfraRed wavelengths
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ADvAnced 4D biomAteriaLs for mucosa and sub-mUcosa treatment in patients affected by intestinal diSeases
Driving up Reliability and Efficiency of Additive Manufacturing
EFFICIENT COMPACT MODULAR THERMAL ENERGY STORAGE SYSTEM
REMODELLING OF THE INFARCTED HEART: PIEZOELECTRIC MULTIFUNCTIONAL PATCH ENABLING THE SEQUENTIAL RELEASE OF THERAPEUTIC FACTORS
Combining Artificial Intelligence and smart sensing TOward better management and improved quality of LIFE in chronic obstructive pulmonary disease
A Knowledge-based business model for small series fashion products by integrating customized innovative services in big data environment (Fashion Big Data Business Model)
Innovative materials and techniques for the conservation of 20th century concrete-based cultural heritage
Real time nano CHAracterization reLatEd techNloGiEeS
One Health approach to understand, predict and prevent viral emergencies from bats
BIODEGRADABLE PACKAGING MATERIALS ADVANCING CIRCULARITY, SUSTAINABILITY & ECO-INNOVATION
Active & intelligent PAckaging materials and display cases as a tool for preventive conservation of Cultural Heritage.
Active aGeIng and Osteoporosis: The next challenge for smarT nanobiOmaterials and 3D technologies
Distributed Digital Twins for industrial SMEs: a big-data platform
Advanced materials solutions for next generation high efficiency concentrated solar power (CSP) tower systems
GREen ENdeavor in Art ResToration
Multiplex phOtonic sensor for pLasmonic-based Online detection of contaminants in milK
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.