BW CONSTRUCT
ActiveSummary
BW CONSTRUCT has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.09M and a net result of €333k. Equity is growing by ~37.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+14
Solvency51▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 16.72 against 6.14 in 2024; short-term debt: 6% and cash: 7.2% of total assets), but 73.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
26.4%
Return on assets
8.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-12-2025, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
43 d early
2023
50 d early
2022
48 d early
2020
51 d early
2019
24 d early
2018
1 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.09M▲ 44.1%
2024 · €753k
2018: €122klowest value
2019: €151k▲ +24.0% vs 2018
2020: €123k▼ -18.7% vs 2019
2022: €571k
2023: €516k▼ -9.6% vs 2022
2024: €753k▲ +45.9% vs 2023
2025: €1.09M▲ +44.1% vs 2024highest value
2018 → 2025
Total assets
€4.12M▼ 3.2%
2024 · €4.26M
2018: €187klowest value
2019: €1.20M▲ +545% vs 2018
2020: €1.53M▲ +27.3% vs 2019
2022: €2.09M
2023: €2.94M▲ +40.5% vs 2022
2024: €4.26M▲ +45.0% vs 2023highest value
2025: €4.12M▼ -3.2% vs 2024
2018 → 2025
Net result
€333k▲ 40.4%
2024 · €237k
2018: €-15k
2019: €29k▲ +290% vs 2018
2020: €-28k▼ -197% vs 2019
2022: €448khighest value
2023: €-55k▼ -112% vs 2022lowest value
2024: €237k▲ +532% vs 2023
2025: €333k▲ +40.4% vs 2024
2018 → 2025
Working capital
€3.86M▲ 8.7%
2024 · €3.55M
2018: €102klowest value
2019: €1.12M▲ +1003% vs 2018
2020: €1.46M▲ +30.2% vs 2019
2022: €1.79M
2023: €2.31M▲ +29.3% vs 2022
2024: €3.55M▲ +53.6% vs 2023
2025: €3.86M▲ +8.7% vs 2024highest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Equity€123k-€571k▲ 365%€516k▼ 9.6%€753k▲ 45.9%€1.09M▲ 44.1%
2020: €123klowest value
2022: €571k
2023: €516k▼ -9.6% vs 2022
2024: €753k▲ +45.9% vs 2023
2025: €1.09M▲ +44.1% vs 2024highest value
Operating result€-8k-€682k€-11k€460k€606k▲ 31.8%
2020: €-8k
2022: €682khighest value
2023: €-11k▼ -102% vs 2022lowest value
2024: €460k▲ +4212% vs 2023
2025: €606k▲ +31.8% vs 2024
Net result€-28k-€448k€-55k€237k€333k▲ 40.4%
2020: €-28k
2022: €448khighest value
2023: €-55k▼ -112% vs 2022lowest value
2024: €237k▲ +532% vs 2023
2025: €333k▲ +40.4% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 32% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.12M
Fixed assets
€19k ▼ 3.4%
Current assets
€4.10M ▼ 3.2%
Equity and liabilities €4.12M
Equity
€1.09M ▲ 44.1%
Debt
€3.04M ▼ 13.3%
Debt's share of the balance-sheet total falls from 82.3% to 73.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€608k▲
2024 · €461k
Cash flow
€334k▲
2024 · €238k
Current ratio
16.72▲
2024 · 6.14
Quick ratio
1.79▲
2024 · 0.37
Debt to equity
2.80▼
2024 · 4.65
ROE
30.6%▼
2024 · 31.4%
ROA
8.1%▲
2024 · 5.6%
Interest coverage
4.76▲
2024 · 3.57
Debt ≤ 1 year
€245k▼
2024 · €690k
Debt > 1 year
€2.78M▼
2024 · €2.81M
Income taxes
€157k▲
2024 · €94k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.26M€4.12M▼
Fixed assets21/28€20k€19k▼
Tangible fixed assets22/27€20k€19k▼
Land and buildings22€17k€17k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24-€923
Current assets29/58€4.24M€4.10M▼
Amounts receivable after more than one year29-€32k
Trade receivables290-€32k
Stocks and contracts in progress3€3.98M€3.66M▼
Stocks30/36€3.98M€3.66M▼
Amounts receivable within one year40/41€163k€97k▼
Trade receivables40€149k€97k▼
Other amounts receivable41€14k-
Cash at bank and in hand54/58€75k€295k▲
Deferred charges and accrued income490/1€15k€14k▼
Equity and liabilities
Total equity and liabilities10/49€4.26M€4.12M▼
Equity10/15€753k€1.09M▲
Contributions10/11€6k€6k=
Reserves13€716k€1.05M▲
Distributable reserves133€716k€1.05M▲
Profit (loss) carried forward14€31k€31k=
Amounts payable17/49€3.50M€3.04M▼
Amounts payable after more than one year17€2.81M€2.78M▼
Financial debts170/4€2.81M€2.78M▼
Amounts payable within one year42/48€690k€245k▼
Current portion of amounts payable after more than one year42-€88k
Trade debts44€612k€119k▼
Suppliers440/4€612k€119k▼
Advances received on contracts in progress46€1k-
Taxes, remuneration and social security45€54k€18k▼
Taxes450/3€54k€18k▼
Other amounts payable47/48€23k€20k▼
Accrued charges and deferred income492/3-€6k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€2k▲
Other operating charges640/8€1k€76▼
Gross operating margin9900€463k€608k▲
Operating profit (loss)9901€460k€606k▲
Financial income75/76B-€11k
Recurring financial income75-€11k
Financial charges65/66B€129k€128k▼
Recurring financial charges65€129k€128k▼
Profit (loss) for the period before taxes9903€331k€490k▲
Income taxes67/77€94k€157k▲
Profit (loss) for the period9904€237k€333k▲
Profit (loss) for the period to be appropriated9905€237k€333k▲
Appropriation of the result
Profit (loss) to be appropriated9906€268k€363k▲
Profit (loss) brought forward from the previous period14P€31k€31k=
Transfer to equity691/2€237k€333k▲
To other reserves6921€237k€333k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €500 | €875 | €500 | €1k | €2k | ▲ 25.3% |
| Other operating charges640/8 | - | €2k | €57 | €1k | €76 | ▼ 94.9% |
| Gross operating margin9900 | €-7k | €685k | €-11k | €463k | €608k | ▲ 31.4% |
| Operating profit (loss)9901 | €-8k | €682k | €-11k | €460k | €606k | ▲ 31.8% |
| Financial income75/76B | - | €7k | €481 | - | €11k | - |
| Recurring financial income75 | - | €7k | €481 | - | €11k | - |
| Financial charges65/66B | - | €37k | €46k | €129k | €128k | ▼ 1.1% |
| Recurring financial charges65 | €21k | €37k | €46k | €129k | €128k | ▼ 1.1% |
| Profit (loss) for the period before taxes9903 | €-28k | €653k | €-56k | €331k | €490k | ▲ 48.1% |
| Income taxes67/77 | - | €204k | €-2k | €94k | €157k | ▲ 67.5% |
| Profit (loss) for the period9904 | €-28k | €448k | €-55k | €237k | €333k | ▲ 40.4% |
| Profit (loss) for the period to be appropriated9905 | €-28k | €448k | €-55k | €237k | €333k | ▲ 40.4% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.53M | €2.09M | €2.94M | €4.26M | €4.12M | ▼ 3.2% |
| Fixed assets21/28 | €19k | €18k | €18k | €20k | €19k | ▼ 3.4% |
| Tangible fixed assets22/27 | €19k | €18k | €18k | €20k | €19k | ▼ 3.4% |
| Land and buildings22 | - | €18k | €18k | €17k | €17k | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €2k | €1k | ▼ 45.4% |
| Furniture and vehicles24 | - | - | - | - | €923 | - |
| Current assets29/58 | €1.51M | €2.07M | €2.92M | €4.24M | €4.10M | ▼ 3.2% |
| Amounts receivable after more than one year29 | - | - | €140k | - | €32k | - |
| Trade receivables290 | - | - | €140k | - | €32k | - |
| Stocks and contracts in progress3 | €1.47M | €1.82M | €2.74M | €3.98M | €3.66M | ▼ 8.0% |
| Stocks30/36 | - | €1.82M | €2.74M | €3.98M | €3.66M | ▼ 8.0% |
| Amounts receivable within one year40/41 | €44k | €150k | €311 | €163k | €97k | ▼ 40.7% |
| Trade receivables40 | - | - | - | €149k | €97k | ▼ 35.0% |
| Other amounts receivable41 | - | €150k | €311 | €14k | - | - |
| Cash at bank and in hand54/58 | €3k | €88k | €37k | €75k | €295k | ▲ 293% |
| Deferred charges and accrued income490/1 | - | €13k | - | €15k | €14k | ▼ 6.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.53M | €2.09M | €2.94M | €4.26M | €4.12M | ▼ 3.2% |
| Equity10/15 | €123k | €571k | €516k | €753k | €1.09M | ▲ 44.1% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €31k | €479k | €479k | €716k | €1.05M | ▲ 46.4% |
| Distributable reserves133 | - | €479k | €479k | €716k | €1.05M | ▲ 46.4% |
| Profit (loss) carried forward14 | €86k | €86k | €31k | €31k | €31k | = |
| Amounts payable17/49 | €1.41M | €1.52M | €2.42M | €3.50M | €3.04M | ▼ 13.3% |
| Amounts payable after more than one year17 | €1.36M | €1.23M | €1.81M | €2.81M | €2.78M | ▼ 1.0% |
| Financial debts170/4 | - | €1.23M | €1.81M | €2.81M | €2.78M | ▼ 1.0% |
| Amounts payable within one year42/48 | €49k | €284k | €608k | €690k | €245k | ▼ 64.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €88k | - |
| Trade debts44 | €36k | €179k | €549k | €612k | €119k | ▼ 80.5% |
| Suppliers440/4 | - | €179k | €549k | €612k | €119k | ▼ 80.5% |
| Advances received on contracts in progress46 | - | - | - | €1k | - | - |
| Taxes, remuneration and social security45 | - | €104k | €39k | €54k | €18k | ▼ 66.6% |
| Taxes450/3 | - | €104k | €39k | €54k | €18k | ▼ 66.6% |
| Other amounts payable47/48 | - | €317 | €21k | €23k | €20k | ▼ 11.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €6k | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-28k | €448k | €-55k | €237k | €333k | ▲ 40.4% |
| + Depreciation and write-downs630 | €500 | €875 | €500 | €1k | €2k | ▲ 25.3% |
| Operating cash flow (approximation) | €-28k | €449k | €-54k | €238k | €334k | ▲ 40.3% |
| Investment in fixed assets (approximation) | - | - | €0 | €-3k | €-1k | ▲ 67.7% |
| Change in cash | - | - | €-50k | €38k | €220k | ▲ 481% |
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
2025
16-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Liquidity triplescurrent ratio 16.72
Current ratio from 6.14 to 16.72; short-term debt falls from €690k to €245k.
30-06
Financial
Equity above €1MEq €1.09M ▲44.1%
2 profitable years in a row build equity to €1.09M.
2024
19-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Back to profitnet €237k
Net result €237k after one loss-making year.
2023
12-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Weakest financial yearnet €-55k
Net result drops to €-55k, the lowest in the series; recovery starts the following year.
2022
14-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €448k
Net result €448k after one loss-making year.
30-06
Financial
Equity above €500kEq €571k ▲365%
Equity rises from €123k to €571k.
2021
10-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
30-09
Financial
Back to profitnet €29k
Net result €29k after one loss-making year.
30-09
Financial
Liquidity times 8current ratio 19.88
Current ratio from 2.57 to 19.88; short-term debt falls from €65k to €60k.
30-09
Financial
Equity above €150kEq €151k ▲24%
Equity rises from €122k to €151k.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Halle · 1 establishment unit since 2003
Ground area
494 m²
Building footprint
155 m²
Volume, LiDAR
616 m³
Parcel 23013A0154/00M004, Flanders · tallest building 6.0 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
BW Construct
since 20032.134.661.677
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23013A0154/00M004 | Flanders | 494 m² | 1 · 155 m² | 6.0 m · 1 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.
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,176 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
Founded13-06-2003
Fiscal year end30-06
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68121Development of residential building projects
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.