Equity
€5.4m ▲ 2.1%
BODARWE has made a profit without a break since 2018.
BODARWE
Part of the group
14 companies
Lifetime
20 annual accounts with figures on one time axis, 40 filings since 1986peak €34.4m (2024)
€32.9m▼ 4.4%
lowest -€894,035 (2009)
€116,939▼ 72.3%
peak €5.4m (2025)
€5.4m▲ 2.1%
€17.6m▼ 7.7%
peak 187.2 FTE (2024)
186.8 FTE▼ 0.2%
Board8 names since 2017
3 directors and 2 others
Owners3 names in the annual accounts
53% and 2 others
Documentsfilings and deeds
25-06-202636 days before the deadline
2025financial year
Result from €421,563 to €116,939
Key points
from the 2025 annual accountsResult
€116,939 ▼ 72.3%
The result fell in 2025 from €421,563 to €116,939.
Debts
€17.6m 77% of the balance sheet
Financial debts 49%Suppliers 31%Taxes and wages 6%Other 14%
€10.3m of the debts are secured on the company's own assets. In 2021 that was €8.8m.
Staff
189 employees on 31-12-2025
In 2025, 69 people joined and 70 left. On top of that, 2.6 agency workers worked there on average.
Payment terms
91 days to suppliers
BODARWE pays its suppliers 15 days earlier than in 2024. Customers pay 19 days earlier.
Filings
40 annual accounts since 1986
The last five annual accounts were filed 24 to 36 days before the end of the period.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 733 companies had the same profile as BODARWE has now. Each dot stands for 2 companies, two years later.
97.4%
were still trading
1.4%
stopped another way
1.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 733 companies, not a prediction for BODARWE. 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.
Credit verdict
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Board and ownership
Chair
Managing director,
Director, since 13-11-2023
Director,
Auditor,
- 53%score equity €3.6m (2025) · 2025 annual accounts of
- 37%score equity €4.0m (2025) · 2025 annual accounts of
- 10%score equity €1.1m (2025) · 2025 annual accounts of
Recent changes
2 directors appointed, 1 statutory auditor reappointed
Reappointment: (statutory auditor) · Appointments: and (managing director) · General meeting of 01-07-2026 · Gazette deed
Reappointment: (statutory auditor)
General meeting of 16-06-2023 · Gazette deed
3 directors appointed
, and · Permanent representative: · Director discharge: · General meeting of 13-11-2023 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0428086239
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BODARWE Malmedy | €32.9m | 1.8% | 23.4% | 186.8 |
| René LEJEUNE et Fils Spa | €31.5m | 15.0% | 80.3% | 160.4 |
| NELLES FRERES Malmedy | €40.1m | 6.8% | 20.1% | 180.5 |
| ENTREPRISE MARCEL BAGUETTE Thimister-Clermont | €32.6m | 0.0% | 21.0% | 114.7 |
| A 2 Frameries | €31.7m | 7.1% | 32.8% | 141.6 |
| ENTREPRISE JEROUVILLE Libramont-Chevigny | €34.9m | 6.2% | 63.1% | 161.7 |
| A.B.W. Beerse | €39.4m | 17.2% | 53.2% | 256.2 |
Grey: the largest companies of the sector (civil engineering (NACE 42)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as BODARWE: construction of roads and motorways (NACE 42110). They are comparable in size and age: total assets between €19m and €40m, founded between 1973 and 1998.
Official details
Source: KBO- Status
- Active since 29-11-1985Normal situation
- Registered office
- 31 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 12 November 2026.
- Activity
- Construction of roads and motorwaysNACE 42110and 7 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.028.252.7764960 Malmedy, since 12-12-1991
- 2.351.072.1424950 Waimes, since 01-01-2023and 2 others
- Financial year end
- 31 December
- Peppol
- Reachable since 01-09-2023
Annual accounts 2025
- €23.0m▼ 5.6%
- Employeeson 31-12-2025
- 189▼ 0.5%
- Filing
- Filed on 25-06-2026, 36 days before the end of the filing period
Companies linked to BODARWE
Parent and group
Insights on BODARWE
BODARWE has existed since 1985. Turnover grew from €14.7m in 2006 to €32.9m in 2025 and staff from 113.7 to 186.8 full-time equivalents.
holds 53% of the shares. In July 2026, the Official Gazette published the appointment of as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BODARWE
- What is the company number of BODARWE?
- The company number of BODARWE is 0428.086.239. The VAT number is the same number with BE in front: BE 0428.086.239.
- Where is BODARWE based?
- The registered office is at Avenue de Norvège 16, 4960 Malmedy.Company details
- What does BODARWE do?
- According to the KBO register, the main activity is construction of roads and motorways (NACE 42110).
- What is the legal form of BODARWE?
- BODARWE is a public limited company (NV).
- When was BODARWE founded?
- BODARWE was founded on 29-11-1985.
- Is BODARWE still active?
- Yes, BODARWE is an active enterprise in the KBO register.
- How many employees does BODARWE have?
- BODARWE had an average of 186.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does BODARWE fall under?
- In its 2025 annual accounts, BODARWE states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of BODARWE?
- The turnover of BODARWE was €32.9m in financial year 2025, according to the filed annual accounts.
- Is BODARWE profitable?
- In financial year 2025, BODARWE made a profit of €116,939.
- Where can I find the annual accounts of BODARWE?
- BODARWE filed 40 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BODARWE due?
- BODARWE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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