BWA
ActiveSummary
BWA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23,595 and a net result of €9,321. Equity is growing by ~19.1% per year across the filed fiscal years. Its solvency ranks better than 55% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-4
Solvency66▲+8
Growth69▼-12
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.97 against 0.31 in 2024; short-term debt: 56% and cash: 4.7% of total assets), and 59.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
40.5%
Return on assets
16%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
28 d late
2024
31 d late
2023
30 d late
2022
26 d early
2021
31 d late
2020
12 d late
2019
27 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€141,552▼ 5.2%
2024 · €149,350
EBIT margin
8.9%▼ 0.2pp
2024 · 9.2%
Net result
€9,321▼ 24.3%
2024 · €12,320
Working capital
-€1,078▲ 93.5%
2024 · -€16,652
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€127,954€149,350▲ 16.7%€141,552▼ 5.2%
Operating result-€3,301€1,626-€4,708€13,730€12,660▼ 7.8%
Net result-€3,399below the sector's middle half€1,649within the sector's middle half-€5,560below the sector's middle half€12,320within the sector's middle half€9,321within the sector's middle half▼ 24.3%
EBIT margin-3.7%9.2%▲ 12.9pp8.9%▼ 0.2pp
Equity€5,865within the sector's middle half▼ 36.7%€7,514within the sector's middle half▲ 28.1%€1,954below the sector's middle half▼ 74.0%€14,274within the sector's middle half▲ 630%€23,595within the sector's middle half▲ 65.3%
Total assets€8,691below the sector's middle half▼ 28.7%€10,859below the sector's middle half▲ 24.9%€26,948below the sector's middle half▲ 148%€43,620below the sector's middle half▲ 61.9%€58,237within the sector's middle half▲ 33.5%
Debt€2,826▼ 3.6%€3,345▲ 18.4%€24,994▲ 647%€29,346▲ 17.4%€34,642▲ 18.0%
Working capital€4,527within the sector's middle half▼ 23.5%€5,245within the sector's middle half▲ 15.9%-€7,720within the sector's middle half-€16,652below the sector's middle half▼ 116%-€1,078within the sector's middle half▲ 93.5%
Solvency67.5%above the sector's middle half▼ 8.5pp69.2%above the sector's middle half▲ 1.7pp7.3%within the sector's middle half▼ 61.9pp32.7%within the sector's middle half▲ 25.5pp40.5%within the sector's middle half▲ 7.8pp
Current ratio2.60within the sector's middle half▼ 0.422.57within the sector's middle half▼ 0.030.53below the sector's middle half▼ 2.030.31below the sector's middle half▼ 0.230.97within the sector's middle half▲ 0.66
Return on assets (ROA)-39.1%below the sector's middle half▼ 56.2pp15.2%above the sector's middle half▲ 54.3pp-20.6%below the sector's middle half▼ 35.8pp28.2%above the sector's middle half▲ 48.9pp16.0%above the sector's middle half▼ 12.2pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €58,237
Fixed assets
€26,723 ▼ 26.3%
Current assets
€31,514 ▲ 328%
Equity and liabilities €58,237
Equity
€23,595 ▲ 65.3%
Debt
€34,642 ▲ 18.0%
Debt's share of the balance-sheet total falls from 67.3% to 59.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€24,041▲
2024 · €20,553
Cash flow
€20,702▲
2024 · €19,144
Debt to equity
1.47▼
2024 · 2.06
ROE
39.5%▼
2024 · 86.3%
Interest coverage
24.65▲
2024 · 17.79
Debt ≤ 1 year
€32,592▲
2024 · €24,012
Debt > 1 year
€2,050▼
2024 · €5,334
Income taxes
€2,396
Staff costs
€1,498▼
2024 · €3,754
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 26,970 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €127,954 | €149,350 | €141,552 | ▼ 5.2% |
| Non-recurring operating income76A | - | €2,661 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €1,293 | €1,024 | €128,541 | €125,043 | €114,924 | ▼ 8.1% |
| Remuneration, social security and pensions62 | - | - | €909 | €3,754 | €1,498 | ▼ 60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,008 | €10 | €3,062 | €6,824 | €11,381 | ▲ 66.8% |
| Other operating charges640/8 | - | - | €149 | - | €1,089 | - |
| Gross operating margin9900 | -€1,293 | €1,637 | -€587 | €24,308 | €26,629 | ▲ 9.5% |
| Operating profit (loss)9901 | -€3,301 | €1,626 | -€4,708 | €13,730 | €12,660 | ▼ 7.8% |
| Financial income75/76B | - | €73 | €132 | €17 | €811 | ▲ 4,753% |
| Recurring financial income75 | - | €73 | €102 | €0 | €811 | ▲ 8,109,600% |
| Non-recurring financial income76B | - | - | €30 | €17 | €811 | ▲ 4,756% |
| Financial charges65/66B | €97 | €51 | €985 | €1,426 | €1,754 | ▲ 23.0% |
| Recurring financial charges65 | €97 | €51 | €984 | €1,155 | €975 | ▼ 15.6% |
| Non-recurring financial charges66B | - | - | €0 | €271 | €779 | ▲ 188% |
| Profit (loss) for the period before taxes9903 | -€3,399 | €1,649 | -€5,560 | €12,320 | €11,716 | ▼ 4.9% |
| Income taxes67/77 | - | - | - | - | €2,396 | - |
| Profit (loss) for the period9904 | -€3,399 | €1,649 | -€5,560 | €12,320 | €9,321 | ▼ 24.3% |
| Profit (loss) for the period to be appropriated9905 | -€3,399 | €1,649 | -€5,560 | €12,320 | €9,321 | ▼ 24.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,691 | €10,859 | €26,948 | €43,620 | €58,237 | ▲ 33.5% |
| Fixed assets21/28 | €1,339 | €2,270 | €18,084 | €36,260 | €26,723 | ▼ 26.3% |
| Tangible fixed assets22/27 | €1,339 | €2,270 | €18,084 | €36,260 | €26,723 | ▼ 26.3% |
| Plant, machinery and equipment23 | €1,339 | €0 | €7,765 | €8,743 | €7,971 | ▼ 8.8% |
| Furniture and vehicles24 | - | €2,270 | €10,319 | €27,517 | €18,752 | ▼ 31.9% |
| Current assets29/58 | €7,352 | €8,590 | €8,864 | €7,360 | €31,514 | ▲ 328% |
| Amounts receivable within one year40/41 | €208 | €3,645 | €8,699 | €7,269 | €28,693 | ▲ 295% |
| Trade receivables40 | - | €0 | €7,567 | €6,988 | €26,256 | ▲ 276% |
| Other amounts receivable41 | €208 | €3,645 | €1,133 | €281 | €2,437 | ▲ 767% |
| Current investments50/53 | - | - | - | €0 | - | - |
| Cash at bank and in hand54/58 | €7,144 | €4,944 | €164 | - | €2,738 | - |
| Deferred charges and accrued income490/1 | €0 | - | - | €91 | €83 | ▼ 8.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,691 | €10,859 | €26,948 | €43,620 | €58,237 | ▲ 33.5% |
| Equity10/15 | €5,865 | €7,514 | €1,954 | €14,274 | €23,595 | ▲ 65.3% |
| Contributions10/11 | €12,000 | €12,000 | €12,000 | €12,000 | €12,000 | = |
| Profit (loss) carried forward14 | -€6,135 | -€4,486 | -€10,046 | €2,274 | €11,595 | ▲ 410% |
| Amounts payable17/49 | €2,826 | €3,345 | €24,994 | €29,346 | €34,642 | ▲ 18.0% |
| Amounts payable after more than one year17 | - | - | €8,349 | €5,334 | €2,050 | ▼ 61.6% |
| Financial debts170/4 | - | - | €8,349 | €5,334 | €2,050 | ▼ 61.6% |
| Amounts payable within one year42/48 | €2,826 | €3,345 | €16,584 | €24,012 | €32,592 | ▲ 35.7% |
| Current portion of amounts payable after more than one year42 | - | - | €2,767 | €3,014 | €3,284 | ▲ 8.9% |
| Financial debts43 | - | - | - | €4,809 | - | - |
| Other loans439 | - | - | - | €4,809 | - | - |
| Trade debts44 | €0 | €3,345 | €10,176 | €15,645 | €13,700 | ▼ 12.4% |
| Suppliers440/4 | €0 | €3,345 | €10,176 | €15,645 | €13,700 | ▼ 12.4% |
| Taxes, remuneration and social security45 | €2,826 | €0 | €3,097 | €0 | €7,895 | - |
| Taxes450/3 | €2,826 | - | €3,097 | - | €7,895 | - |
| Remuneration and social security454/9 | - | - | €0 | €0 | €0 | - |
| Other amounts payable47/48 | - | - | €544 | €544 | €7,713 | ▲ 1,319% |
| Accrued charges and deferred income492/3 | - | - | €61 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,399 | €1,649 | -€5,560 | €12,320 | €9,321 | ▼ 24.3% |
| + Depreciation and write-downs630 | €2,008 | €10 | €3,062 | €6,824 | €11,381 | ▲ 66.8% |
| Operating cash flow (approximation) | -€1,390 | €1,659 | -€2,498 | €19,144 | €20,702 | ▲ 8.1% |
| Investment in fixed assets (approximation) | - | -€941 | -€18,877 | -€25,000 | -€1,844 | ▲ 92.6% |
| Change in cash | - | -€2,200 | -€4,780 | - | - | - |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Back to profitnet €12,320
Net result €12,320 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €1,649
Net result €1,649 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
31-12
Financial
Back to profitnet €1,828
Net result €1,828 after one loss-making year.
31-12
Financial
Liquidity times 12current ratio 1.63
Current ratio from 0.14 to 1.63.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Juprelle · 1 establishment unit since 2017
Ground area
439 m²
Building footprint
104 m²
Volume, LiDAR
621 m³
Parcel 62035A0571/00D000, Wallonia · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
JARDI CUBE
since 20172.272.660.114
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62035A0571/00D000 | Wallonia | 439 m² | 1 · 104 m² | 6.8 m · 2 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 236 companies in sector 47522 we hold annual accounts for 138. 85 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
Founded06-09-2017
Fiscal year end31-12
Abbreviation FR
/BWA/
Activities, NACEBEL 2025
47522Retail trade
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0680779751
Registered
07-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.