BOWAR
ActiveSummary
BOWAR has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €327k and a net result of €119k. Equity is growing by ~6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▲+47
Solvency87▲+13
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.19 against 0.07 in 2024; short-term debt: 13.3% and cash: 27.1% of total assets), and 38.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
61.5%
Return on assets
22.4%
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
13 d late
2023
8 d late
2022
3 d late
2021
23 d late
2020
25 d late
2019
27 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, abbreviated schema
Equity
€327k▲ 57.3%
2024 · €208k
Total assets
€531k▲ 25.9%
2024 · €422k
Net result
€119k
2024 · €-19k
Working capital
€84k
2024 · €-86k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€31k▲ 260%€31k▲ 1.2%€31k▲ 0.1%€-14k€162k
Net result€12k€13k▲ 7.2%€13k▼ 2.7%€-19k€119k
Equity€198k▲ 6.6%€211k▲ 6.7%€227k▲ 7.3%€208k▼ 8.3%€327k▲ 57.3%
Total assets€475k▼ 7.4%€523k▲ 10.0%€473k▼ 9.6%€422k▼ 10.8%€531k▲ 25.9%
Debt€255k▼ 15.6%€293k▲ 14.8%€230k▼ 21.5%€200k▼ 13.0%€157k▼ 21.7%
Working capital€-38k▼ 20.9%€-102k▼ 169%€-73k▲ 28.5%€-86k▼ 18.0%€84k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €162k after a loss of €14k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €531k
Fixed assets
€376k ▼ 9.5%
Current assets
€155k ▲ 2,398%
Equity and liabilities €531k
Equity
€327k ▲ 57.3%
Provisions
€48k ▲ 245%
Debt
€157k ▼ 21.7%
Debt's share of the balance-sheet total falls from 47.5% to 29.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€202k▲
2024 · €30k
Cash flow
€159k▲
2024 · €26k
Current ratio
2.19▲
2024 · 0.07
Debt to equity
0.48▼
2024 · 0.96
ROE
36.4%▲
2024 · -9.0%
ROA
22.4%▲
2024 · -4.5%
Interest coverage
36.68▲
2024 · 4.44
Debt ≤ 1 year
€71k▼
2024 · €92k
Debt > 1 year
€86k▼
2024 · €108k
Income taxes
€3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €144k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42k | €50k | €45k | €45k | €40k | ▼ 9.7% |
| Other operating charges640/8 | €13k | €12k | €13k | €14k | €14k | ▲ 2.3% |
| Gross operating margin9900 | €86k | €93k | €90k | €44k | €216k | ▲ 389% |
| Operating profit (loss)9901 | €31k | €31k | €31k | €-14k | €162k | ▲ 1,220% |
| Financial income75/76B | - | - | €1 | - | - | - |
| Recurring financial income75 | - | - | €1 | - | - | - |
| Financial charges65/66B | €12k | €11k | €8k | €7k | €6k | ▼ 19.4% |
| Recurring financial charges65 | €12k | €11k | €8k | €7k | €6k | ▼ 19.4% |
| Profit (loss) for the period before taxes9903 | €19k | €20k | €23k | €-21k | €156k | ▲ 834% |
| Transfer from deferred taxes780 | €3k | €3k | - | €2k | €2k | ▼ 10.5% |
| Transfer to deferred taxes680 | - | - | - | - | €36k | - |
| Income taxes67/77 | €9k | €10k | €11k | - | €3k | - |
| Profit (loss) for the period9904 | €12k | €13k | €13k | €-19k | €119k | ▲ 733% |
| Transfer from tax-exempt reserves789 | €6k | €6k | €8k | €5k | €4k | ▼ 10.5% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €108k | - |
| Profit (loss) for the period to be appropriated9905 | €19k | €19k | €20k | €-14k | €15k | ▲ 210% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €475k | €523k | €473k | €422k | €531k | ▲ 25.9% |
| Fixed assets21/28 | €467k | €506k | €460k | €416k | €376k | ▼ 9.5% |
| Tangible fixed assets22/27 | €467k | €506k | €460k | €416k | €376k | ▼ 9.5% |
| Land and buildings22 | €457k | €499k | €457k | €414k | €375k | ▼ 9.5% |
| Plant, machinery and equipment23 | €9k | €6k | €4k | €1k | €944 | ▼ 16.2% |
| Furniture and vehicles24 | €740 | - | - | - | - | - |
| Current assets29/58 | €8k | €18k | €13k | €6k | €155k | ▲ 2,398% |
| Amounts receivable within one year40/41 | €784 | - | - | - | €9k | - |
| Other amounts receivable41 | €784 | - | - | - | €9k | - |
| Cash at bank and in hand54/58 | €4k | €16k | €11k | €3k | €144k | ▲ 4,495% |
| Deferred charges and accrued income490/1 | €4k | €2k | €2k | €3k | €2k | ▼ 24.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €475k | €523k | €473k | €422k | €531k | ▲ 25.9% |
| Equity10/15 | €198k | €211k | €227k | €208k | €327k | ▲ 57.3% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €136k | €149k | €165k | €160k | €279k | ▲ 74.5% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | €43k | €37k | €32k | €27k | €130k | ▲ 388% |
| Distributable reserves133 | €87k | €106k | €127k | €127k | €142k | ▲ 12.1% |
| Profit (loss) carried forward14 | - | - | - | €-14k | €-14k | = |
| Provisions and deferred taxes16 | €22k | €19k | €16k | €14k | €48k | ▲ 245% |
| Provisions for liabilities and charges160/5 | €22k | €19k | €16k | €14k | €48k | ▲ 245% |
| Taxes161 | €22k | €19k | €16k | €14k | €48k | ▲ 245% |
| Amounts payable17/49 | €255k | €293k | €230k | €200k | €157k | ▼ 21.7% |
| Amounts payable after more than one year17 | €209k | €174k | €145k | €108k | €86k | ▼ 20.3% |
| Financial debts170/4 | €209k | €174k | €145k | €108k | €86k | ▼ 20.3% |
| Amounts payable within one year42/48 | €46k | €119k | €86k | €92k | €71k | ▼ 23.2% |
| Current portion of amounts payable after more than one year42 | €10k | €10k | €6k | €21k | €21k | = |
| Financial debts43 | €1k | - | - | - | - | - |
| Credit institutions430/8 | €1k | - | - | - | - | - |
| Trade debts44 | €25k | €88k | €65k | €57k | €41k | ▼ 28.8% |
| Suppliers440/4 | €25k | €88k | €65k | €57k | €41k | ▼ 28.8% |
| Taxes, remuneration and social security45 | €10k | €19k | €11k | €11k | €3k | ▼ 67.1% |
| Taxes450/3 | €10k | €19k | €11k | €11k | €3k | ▼ 67.1% |
| Other amounts payable47/48 | - | €1k | €4k | €4k | €6k | ▲ 59.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €13k | €13k | €-19k | €119k | ▲ 733% |
| + Depreciation and write-downs630 | €42k | €50k | €45k | €45k | €40k | ▼ 9.7% |
| Operating cash flow (approximation) | €54k | €63k | €58k | €26k | €159k | ▲ 512% |
| Investment in fixed assets (approximation) | - | €-88k | €0 | €0 | €-1k | - |
| Change in cash | - | €12k | €-5k | €-8k | €141k | ▲ 1,917% |
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
31-08
State Gazette act
Reappointment: Boudewijn Jansegers (director)Declaration4 facts ▸
State Gazette act
Reappointment: Boudewijn Jansegers (director)
Declaration4 facts ▸
- General meeting, 15-06-2026
- Director reappointment, Boudewijn Jansegers (director)
- Director reappointment, Boudewijn Jansegers (afgevaardigd bestuurder)
- Declaration, acceptance of mandate, het mandaat aanvaard
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €119k
Net result €119k after one loss-making year.
31-12
Financial
Liquidity times 33current ratio 2.19
Current ratio from 0.07 to 2.19; short-term debt falls from €92k to €71k.
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
31-12
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
03-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2022
31-12
Financial
Equity above €200kEq €211k ▲6.7%
2 profitable years in a row build equity to €211k.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
Show earlier events
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
2019
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 48 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 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
Boudewijn Jansegers
CurrentAfgevaardigd bestuurder · since 15-06-2026
15-06-2026
Mandate renewed as Afgevaardigd bestuurder
15-06-2026
Mandate renewed as Director
Not every act has been read: a resignation may be missing here
9 of this company's 10 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, Leopoldsburg · 1 establishment unit since 1988
Ground area
486 m²
Building footprint
349 m²
Volume, LiDAR
2,250 m³
Parcel 71034A0361/00A000, Flanders · tallest building 10.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
BOWAR IMMOBILIEN NV
since 19882.040.909.593
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71034A0361/00A000 | Flanders | 485 m² | 1 · 349 m² | 10.4 m · 3 fl. |
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.
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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Identification & contact
Identification
Legal formPublic limited company
Founded24-12-1986
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.