BWOLF
ActiveSummary
BWOLF has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22,754 and a net result of €5,786. Equity is growing by ~75.3% per year across the filed fiscal years. Its solvency ranks better than 69% of 262 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▼-20
Solvency89▲+5
Growth72▲+1
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 2.39 against 1.9 in 2024; short-term debt: 36% and cash: 49.1% of total assets), and 36% of the assets are financed with debt.
Credit check for your own amount and term
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 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% 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
64%
Return on assets
16.3%
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
23 d early
2023
on the day
2022
17 d late
2021
26 d late
2020
1 d early
2019
67 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 9 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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
€104,536▲ 10.4%
2024 · €94,689
EBIT margin
7.9%▼ 10.7pp
2024 · 18.6%
Net result
€5,786▼ 63.6%
2024 · €15,885
Working capital
€17,747▲ 64.8%
2024 · €10,767
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 61, Telecommunications, 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€76,276€81,041▲ 6.2%€56,726▼ 30.0%€94,689▲ 66.9%€104,536▲ 10.4%
Operating result€7,641▲ 104%€579▼ 92.4%-€12,016€17,625€8,274▼ 53.1%
Net result€6,433within the sector's middle half▲ 78.7%€57within the sector's middle half▼ 99.1%-€12,195below the sector's middle half€15,885within the sector's middle half€5,786within the sector's middle half▼ 63.6%
EBIT margin10.0%0.7%▼ 9.3pp-21.2%▼ 21.9pp18.6%▲ 39.8pp7.9%▼ 10.7pp
Equity€3,984below the sector's middle half▲ 6.2%€4,041below the sector's middle half▲ 1.4%€363below the sector's middle half▼ 91.0%€16,968within the sector's middle half▲ 4,579%€22,754within the sector's middle half▲ 34.1%
Total assets€26,839below the sector's middle half▲ 121%€16,919below the sector's middle half▼ 37.0%€10,029below the sector's middle half▼ 40.7%€28,934below the sector's middle half▲ 189%€35,561below the sector's middle half▲ 22.9%
Debt€22,854▲ 172%€12,877▼ 43.7%€9,666▼ 24.9%€11,966▲ 23.8%€12,807▲ 7.0%
Working capital-€1,051below the sector's middle half▲ 36.9%-€895within the sector's middle half▲ 14.8%-€5,622below the sector's middle half▼ 528%€10,767within the sector's middle half€17,747within the sector's middle half▲ 64.8%
Solvency14.8%within the sector's middle half▼ 16.0pp23.9%within the sector's middle half▲ 9.0pp3.6%below the sector's middle half▼ 20.3pp58.6%within the sector's middle half▲ 55.0pp64.0%within the sector's middle half▲ 5.3pp
Current ratio0.95below the sector's middle half▲ 0.150.93below the sector's middle half▼ 0.020.42below the sector's middle half▼ 0.511.90within the sector's middle half▲ 1.482.39within the sector's middle half▲ 0.49
Return on assets (ROA)24.0%above the sector's middle half▼ 5.6pp0.3%within the sector's middle half▼ 23.6pp-121.6%below the sector's middle half▼ 121.9pp54.9%above the sector's middle half▲ 176.5pp16.3%within the sector's middle half▼ 38.6pp
Staff (FTE)10.7▼ 30.0%
above
within
below
the middle half (P25 to P75) of NACE 61, Telecommunications, 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 53% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35,561
Fixed assets
€5,007 ▼ 19.2%
Current assets
€30,553 ▲ 34.4%
Equity and liabilities €35,561
Equity
€22,754 ▲ 34.1%
Debt
€12,807 ▲ 7.0%
Debt's share of the balance-sheet total falls from 41.4% to 36.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€10,751▼
2024 · €20,248
Cash flow
€8,262▼
2024 · €18,508
Debt to equity
0.56▼
2024 · 0.71
ROE
25.4%▼
2024 · 93.6%
Interest coverage
46.21▼
2024 · 209.70
Debt ≤ 1 year
€12,807▲
2024 · €11,966
Income taxes
€2,258▲
2024 · €1,643
Staff costs
€0▼
2024 · €14,185
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 34,679 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 | €76,276 | €81,041 | €56,726 | €94,689 | €104,536 | ▲ 10.4% |
| Goods, raw materials, services and sundry goods60/61 | €66,470 | €63,461 | €48,155 | €59,653 | €93,637 | ▲ 57.0% |
| Remuneration, social security and pensions62 | - | €17,151 | €20,069 | €14,185 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,141 | €2,099 | €2,492 | €2,623 | €2,476 | ▼ 5.6% |
| Other operating charges640/8 | €149 | €667 | €329 | €603 | €149 | ▼ 75.3% |
| Gross operating margin9900 | €9,931 | €20,497 | €10,874 | €35,036 | €10,899 | ▼ 68.9% |
| Operating profit (loss)9901 | €7,641 | €579 | -€12,016 | €17,625 | €8,274 | ▼ 53.1% |
| Financial income75/76B | - | €1 | €1 | €0 | €3 | - |
| Recurring financial income75 | - | €1 | €1 | €0 | €3 | - |
| Financial charges65/66B | €151 | €176 | €179 | €97 | €233 | ▲ 141% |
| Recurring financial charges65 | €151 | €176 | €179 | €97 | €233 | ▲ 141% |
| Profit (loss) for the period before taxes9903 | €7,490 | €404 | -€12,195 | €17,529 | €8,044 | ▼ 54.1% |
| Income taxes67/77 | €1,057 | €347 | - | €1,643 | €2,258 | ▲ 37.4% |
| Profit (loss) for the period9904 | €6,433 | €57 | -€12,195 | €15,885 | €5,786 | ▼ 63.6% |
| Profit (loss) for the period to be appropriated9905 | €6,433 | €57 | -€12,195 | €15,885 | €5,786 | ▼ 63.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26,839 | €16,919 | €10,029 | €28,934 | €35,561 | ▲ 22.9% |
| Fixed assets21/28 | €5,035 | €4,936 | €5,985 | €6,200 | €5,007 | ▼ 19.2% |
| Tangible fixed assets22/27 | €5,035 | €4,936 | €5,985 | €6,200 | €5,007 | ▼ 19.2% |
| Plant, machinery and equipment23 | €2,113 | €3,479 | €5,558 | €6,133 | €3,733 | ▼ 39.1% |
| Furniture and vehicles24 | €2,921 | €1,458 | €427 | €67 | €1,274 | ▲ 1,799% |
| Current assets29/58 | €21,804 | €11,982 | €4,044 | €22,733 | €30,553 | ▲ 34.4% |
| Amounts receivable within one year40/41 | €1,041 | €8,104 | €2,371 | €10,272 | €12,588 | ▲ 22.6% |
| Trade receivables40 | €1,041 | €8,020 | €2,278 | €9,623 | €12,588 | ▲ 30.8% |
| Other amounts receivable41 | €0 | €84 | €93 | €649 | - | - |
| Cash at bank and in hand54/58 | €20,762 | €3,879 | €1,673 | €11,961 | €17,465 | ▲ 46.0% |
| Deferred charges and accrued income490/1 | - | - | - | €500 | €500 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26,839 | €16,919 | €10,029 | €28,934 | €35,561 | ▲ 22.9% |
| Equity10/15 | €3,984 | €4,041 | €363 | €16,968 | €22,754 | ▲ 34.1% |
| Contributions10/11 | - | - | €8,516 | €9,236 | €9,236 | = |
| Profit (loss) carried forward14 | €3,984 | €4,041 | -€8,153 | €7,732 | €13,518 | ▲ 74.8% |
| Amounts payable17/49 | €22,854 | €12,877 | €9,666 | €11,966 | €12,807 | ▲ 7.0% |
| Amounts payable within one year42/48 | €22,854 | €12,877 | €9,666 | €11,966 | €12,807 | ▲ 7.0% |
| Trade debts44 | €0 | €23 | €0 | €2,025 | €4,980 | ▲ 146% |
| Suppliers440/4 | €0 | €23 | €0 | €2,025 | €4,980 | ▲ 146% |
| Taxes, remuneration and social security45 | €12,038 | €3,387 | €9,666 | €9,941 | €4,370 | ▼ 56.0% |
| Taxes450/3 | €2,038 | €1,992 | €60 | €1,643 | €3,370 | ▲ 105% |
| Remuneration and social security454/9 | €10,000 | €1,394 | €9,606 | €8,298 | €1,000 | ▼ 87.9% |
| Other amounts payable47/48 | €10,817 | €9,468 | - | - | €3,457 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,433 | €57 | -€12,195 | €15,885 | €5,786 | ▼ 63.6% |
| + Depreciation and write-downs630 | €2,141 | €2,099 | €2,492 | €2,623 | €2,476 | ▼ 5.6% |
| Operating cash flow (approximation) | €8,575 | €2,156 | -€9,702 | €18,508 | €8,262 | ▼ 55.4% |
| Investment in fixed assets (approximation) | - | -€2,000 | -€3,541 | -€2,839 | -€1,283 | ▲ 54.8% |
| Change in cash | - | -€16,884 | -€2,206 | €10,288 | €5,504 | ▼ 46.5% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €15,885
Net result €15,885 after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 1.90
Current ratio from 0.42 to 1.90.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€12,195
Net result drops to -€12,195, the lowest in the series; recovery starts the following year.
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 67 days late
2019
24-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 24 days late
2018
06-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 6 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 24 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, Morlanwelz · 1 establishment unit since 2015
Ground area
471 m²
Building footprint
62 m²
Parcel 56015A0144/00T006, Wallonia. Linked by address, not a title deed.
1 establishment unit
BWOLF
since 20152.247.961.736
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56015A0144/00T006 | Wallonia | 470 m² | 1 · 62 m² | - |
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 2,158 companies in sector 61200 we hold annual accounts for 696. 375 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
Founded28-07-2015
Fiscal year end31-12
Activities, NACEBEL 2025
61200Telecommunications resale and intermediation services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0634679215
Also
9925:BE0634679215
Registered
23-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.