BW IMPORT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-03-2026 PDF all 6 filings
Turnover
≈ €500,000
Estimated: probably between €300,000 and €1.1m
Total assets
€570,042▼ 12.3%
2024 · €650,021
Net result
€5,820▲ 560%
2024 · €882
Working capital
€62,514▼ 11.5%
2024 · €70,626
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€7,482
2025
20202025
Net result
€5,820
▲ 560%
2025
middle half of the sector
20202025
Equity
€54,354
▲ 12.0%
2025
middle half of the sector
20202025
Total assets
€570,042
▼ 12.3%
2025
middle half of the sector
20202025
Debt
€515,687
▼ 14.3%
2025
20202025
Working capital
€62,514
▼ 11.5%
2025
middle half of the sector
20202025
Solvency
9.5%
▲ 2.1pp
2025
lowest quarter of the sector
20202025
Current ratio
1.13
=
2025
middle half of the sector
20202025
Return on assets (ROA)
1.0%
▲ 0.9pp
2025
middle half of the sector
20202025
Staff (FTE)
1
=
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€7,444-€53,001▲ 612%-€15,262€2,869-€6,171€7,482
Net result€7,423within the sector's middle half-€52,527within the sector's middle half▲ 608%-€15,298below the sector's middle half€2,000below the sector's middle half€882below the sector's middle half▼ 55.9%€5,820within the sector's middle half▲ 560%
Equity€8,423below the sector's middle half-€60,951below the sector's middle half▲ 624%€45,652below the sector's middle half▼ 25.1%€47,652below the sector's middle half▲ 4.4%€48,534below the sector's middle half▲ 1.9%€54,354within the sector's middle half▲ 12.0%
Total assets€86,086below the sector's middle half-€445,642below the sector's middle half▲ 418%€792,594within the sector's middle half▲ 77.9%€710,135within the sector's middle half▼ 10.4%€650,021within the sector's middle half▼ 8.5%€570,042within the sector's middle half▼ 12.3%
Debt€77,663-€384,691▲ 395%€746,941▲ 94.2%€662,483▼ 11.3%€601,487▼ 9.2%€515,687▼ 14.3%
Working capital€44,518within the sector's middle half-€44,138within the sector's middle half▼ 0.9%€94,829within the sector's middle half▲ 115%€81,126within the sector's middle half▼ 14.4%€70,626within the sector's middle half▼ 12.9%€62,514within the sector's middle half▼ 11.5%
Solvency9.8%below the sector's middle half-13.7%below the sector's middle half▲ 3.9pp5.8%below the sector's middle half▼ 7.9pp6.7%below the sector's middle half▲ 1.0pp7.5%below the sector's middle half▲ 0.8pp9.5%below the sector's middle half▲ 2.1pp
Current ratio2.61within the sector's middle half-1.11within the sector's middle half▼ 1.491.14within the sector's middle half▲ 0.031.13within the sector's middle half▼ 0.011.13within the sector's middle half▼ 0.011.13within the sector's middle half=
Return on assets (ROA)8.6%within the sector's middle half-11.8%above the sector's middle half▲ 3.2pp-1.9%below the sector's middle half▼ 13.7pp0.3%below the sector's middle half▲ 2.2pp0.1%below the sector's middle half▼ 0.1pp1.0%within the sector's middle half▲ 0.9pp
Staff (FTE)1below the sector's middle half1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €7,482, after a loss of €6,171 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €570,042
Fixed assets
€20,978 ▼ 6.1%
Current assets
€549,064 ▼ 12.5%
Equity and liabilities €570,042
Equity
€54,354 ▲ 12.0%
Debt
€515,687 ▼ 14.3%
Debt's share of the balance-sheet total falls from 92.5% to 90.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€11,673▲
2024 · -€2,265
Cash flow
€10,011▲
2024 · €4,788
Debt to equity
9.49▼
2024 · 12.39
ROE
10.7%▲
2024 · 1.8%
Interest coverage
15.33▲
2024 · -0.22
Debt ≤ 1 year
€486,550▼
2024 · €557,063
Debt > 1 year
€29,137▼
2024 · €44,425
Income taxes
€901
Staff costs
€53,365▲
2024 · €40,541
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €10,911 | €4,321 | - | €2,836 |
| Financial fixed assets | €1,500 | - | - | - |
| Depreciation and write-downs of the year | €3,399 | €3,906 | €3,906 | €4,191 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €43,988 | €42,539 | €40,541 | €53,365 | ▲ 31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,545 | €3,893 | €3,399 | €3,906 | €3,906 | €4,191 | ▲ 7.3% |
| Other operating charges640/8 | - | - | €1,825 | €4,083 | €454 | €135 | ▼ 70.3% |
| Gross operating margin9900 | €9,808 | €90,321 | €33,952 | €53,397 | €38,729 | €65,173 | ▲ 68.3% |
| Operating profit (loss)9901 | €7,444 | €53,001 | -€15,262 | €2,869 | -€6,171 | €7,482 | - |
| Financial income75/76B | - | - | €19 | €40 | €17,250 | - | - |
| Recurring financial income75 | - | €0 | €19 | €40 | €17,250 | - | - |
| Financial charges65/66B | - | - | €56 | €909 | €10,197 | €762 | ▼ 92.5% |
| Recurring financial charges65 | €21 | €474 | €56 | €909 | €10,197 | €762 | ▼ 92.5% |
| Profit (loss) for the period before taxes9903 | €7,423 | €52,527 | -€15,298 | €2,000 | €882 | €6,721 | ▲ 662% |
| Income taxes67/77 | - | - | - | - | - | €901 | - |
| Profit (loss) for the period9904 | €7,423 | €52,527 | -€15,298 | €2,000 | €882 | €5,820 | ▲ 560% |
| Profit (loss) for the period to be appropriated9905 | €7,423 | €52,527 | -€15,298 | €2,000 | €882 | €5,820 | ▲ 560% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €86,086 | €445,642 | €792,594 | €710,135 | €650,021 | €570,042 | ▼ 12.3% |
| Fixed assets21/28 | €13,905 | €16,812 | €25,824 | €26,239 | €22,332 | €20,978 | ▼ 6.1% |
| Tangible fixed assets22/27 | €13,905 | €16,812 | €24,324 | €24,739 | €20,832 | €19,478 | ▼ 6.5% |
| Plant, machinery and equipment23 | - | - | €1,454 | €1,564 | €931 | €297 | ▼ 68.1% |
| Furniture and vehicles24 | - | - | €635 | €3,776 | €3,339 | €5,454 | ▲ 63.3% |
| Other tangible fixed assets26 | - | - | €22,235 | €19,399 | €16,563 | €13,727 | ▼ 17.1% |
| Financial fixed assets28 | - | - | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Current assets29/58 | €72,181 | €428,830 | €766,770 | €683,896 | €627,689 | €549,064 | ▼ 12.5% |
| Stocks and contracts in progress3 | - | €299,291 | €159,169 | €125,084 | - | - | - |
| Stocks30/36 | - | - | €159,169 | €125,084 | - | - | - |
| Amounts receivable within one year40/41 | €66,248 | €52,526 | €583,682 | €526,032 | €549,247 | €535,805 | ▼ 2.4% |
| Trade receivables40 | - | - | €277,584 | €126,032 | €146,897 | €13,521 | ▼ 90.8% |
| Other amounts receivable41 | - | - | €306,098 | €400,000 | €402,350 | €522,283 | ▲ 29.8% |
| Cash at bank and in hand54/58 | €5,934 | €77,013 | €23,919 | €32,780 | €49,942 | €13,260 | ▼ 73.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €28,500 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €86,086 | €445,642 | €792,594 | €710,135 | €650,021 | €570,042 | ▼ 12.3% |
| Equity10/15 | €8,423 | €60,951 | €45,652 | €47,652 | €48,534 | €54,354 | ▲ 12.0% |
| Contributions10/11 | - | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | - | - | - | - | - | €50,000 | - |
| Distributable reserves133 | - | - | - | - | - | €50,000 | - |
| Profit (loss) carried forward14 | €7,423 | €59,951 | €44,652 | €46,652 | €47,534 | €3,354 | ▼ 92.9% |
| Amounts payable17/49 | €77,663 | €384,691 | €746,941 | €662,483 | €601,487 | €515,687 | ▼ 14.3% |
| Amounts payable after more than one year17 | - | - | €75,000 | €59,712 | €44,425 | €29,137 | ▼ 34.4% |
| Financial debts170/4 | - | - | €75,000 | €59,712 | €44,425 | €29,137 | ▼ 34.4% |
| Amounts payable within one year42/48 | €27,663 | €384,691 | €671,941 | €602,770 | €557,063 | €486,550 | ▼ 12.7% |
| Trade debts44 | €374 | €51,257 | €122,545 | €40,247 | €48,741 | €7,275 | ▼ 85.1% |
| Suppliers440/4 | - | - | €122,545 | €40,247 | €48,741 | €7,275 | ▼ 85.1% |
| Taxes, remuneration and social security45 | - | - | €11,113 | €11,319 | €36,259 | €7,057 | ▼ 80.5% |
| Taxes450/3 | - | - | - | €6,210 | €31,448 | €901 | ▼ 97.1% |
| Remuneration and social security454/9 | - | - | €11,113 | €5,109 | €4,811 | €6,156 | ▲ 28.0% |
| Other amounts payable47/48 | - | - | €538,283 | €551,205 | €472,062 | €472,218 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,423 | €52,527 | -€15,298 | €2,000 | €882 | €5,820 | ▲ 560% |
| + Depreciation and write-downs630 | €1,545 | €3,893 | €3,399 | €3,906 | €3,906 | €4,191 | ▲ 7.3% |
| Operating cash flow (approximation) | €8,968 | €56,420 | -€11,899 | €5,906 | €4,788 | €10,011 | ▲ 109% |
| Investment in fixed assets (approximation) | - | -€6,800 | -€12,411 | -€4,321 | €0 | -€2,836 | - |
| Change in cash | - | €71,079 | -€53,094 | €8,861 | €17,161 | -€36,682 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as BW IMPORT has now. Two years later, 94.4% were still going and 2.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
94.4%
was still going
2.7%
stopped otherwise
2.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BW IMPORT itself: 1.2% within 12 months.
Test of the method
The method was tested on the 497,446 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 1,251 companies, not a prediction for BW IMPORT. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 02-03-2026 | 2026-00046995 | |
| 30-09-2024 | abbreviated format | 20-03-2025 | 2025-00053143 | |
| 30-09-2023 | abbreviated format | 13-03-2024 | 2024-00043632 | |
| 30-09-2022 | abbreviated format | 14-03-2023 | 2023-00040410 | |
| 30-09-2021 | abbreviated format | 14-03-2022 | 2022-07700155 | |
| 30-09-2020 | abbreviated format | 28-04-2021 | 2021-11800380 |