Summary
BWSDA is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €24,968 and a net result of €75,641. Equity has been growing by about 53% per year since 2021. Its solvency ranks better than 18% of 9,757 sector peers (NACE 64, financial year 2025). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 10-07-2020 Normal situation
- Activity
- Activities of holding companies NACE 64210and 5 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment unit
- 2.305.323.774 4860 Pepinster, since 04-08-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €75,641
- ▲ 90.1%
- Equity
- €24,968
- ▲ 74.3%
- Total assets
- €197,370
- ▲ 48.9%
- 2025 accounts filed 61 days after the deadline
Signalsraises riskWeak solvency compared with the sector2025 accounts filed 61 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 9757 sector peers (2025).
NBB · sector comparisonPosition among 9757 sector peers
Solvency
better than 18%
← weakest
strongest →
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 5 filingsDeviation from the deadline
2025
61 days late
2024
61 days late
2023
83 days late
2022
53 days late
2021
34 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 45 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00537298.
Annual accounts 2025 filed on 30-09-2026 at the NBB all 5 filings
Equity
€24,968▲ 74.3%
2024 · €14,328
Net result
€75,641▲ 90.1%
2024 · €39,797
Total assets
€197,370▲ 48.9%
2024 · €132,583
Solvency
12.7%▲ 1.8pp
2024 · 10.8%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€96,971
▲ 75.0%
2025
20212025
Net result
€75,641
▲ 90.1%
2025
middle half of the sector
20212025
Equity
€24,968
▲ 74.3%
2025
lowest quarter of the sector
20212025
Total assets
€197,370
▲ 48.9%
2025
middle half of the sector
20212025
Debt
€172,401
▲ 45.8%
2025
20212025
Working capital
€6,380
2025
middle half of the sector
20212025
Solvency
12.7%
▲ 1.8pp
2025
lowest quarter of the sector
20212025
Current ratio
1.04
▲ 0.08
2025
middle half of the sector
20212025
Return on assets (ROA)
38.3%
▲ 8.3pp
2025
highest quarter of the sector
20212025
Staff (FTE)
no figure
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,134--€2,965€30,567€55,422▲ 81.3%€96,971▲ 75.0%
Net result€1,608below the sector's middle half--€3,498below the sector's middle half€25,420within the sector's middle half€39,797within the sector's middle half▲ 56.6%€75,641within the sector's middle half▲ 90.1%
Equity€4,608below the sector's middle half-€1,110below the sector's middle half▼ 75.9%€26,531below the sector's middle half▲ 24×€14,328below the sector's middle half▼ 46.0%€24,968below the sector's middle half▲ 74.3%
Total assets€25,752below the sector's middle half-€32,866below the sector's middle half▲ 27.6%€56,260below the sector's middle half▲ 71.2%€132,583within the sector's middle half▲ 136%€197,370within the sector's middle half▲ 48.9%
Debt€21,144-€31,755▲ 50.2%€29,729▼ 6.4%€118,255▲ 298%€172,401▲ 45.8%
Working capital€839within the sector's middle half--€6,625within the sector's middle half€19,570within the sector's middle half-€4,412within the sector's middle half€6,380within the sector's middle half
Solvency17.9%below the sector's middle half-3.4%below the sector's middle half▼ 14.5pp47.2%within the sector's middle half▲ 43.8pp10.8%below the sector's middle half▼ 36.4pp12.7%below the sector's middle half▲ 1.8pp
Current ratio1.04within the sector's middle half-0.70within the sector's middle half▼ 0.341.80within the sector's middle half▲ 1.100.96within the sector's middle half▼ 0.841.04within the sector's middle half▲ 0.08
Return on assets (ROA)6.2%within the sector's middle half--10.6%below the sector's middle half▼ 16.9pp45.2%above the sector's middle half▲ 55.8pp30.0%above the sector's middle half▼ 15.2pp38.3%above the sector's middle half▲ 8.3pp
Staff (FTE)0.8-1▲ 25.0%0.7▼ 30.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 75% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro 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 €197,370
Fixed assets
€25,742 ▼ 27.1%
Current assets
€171,628 ▲ 76.4%
Equity and liabilities €197,370
Equity
€24,968 ▲ 74.3%
Debt
€172,401 ▲ 45.8%
Debt's share of the balance-sheet total falls from 89.2% to 87.3%. Equity and debt are higher.
Key figures and ratios
ROE
302.9%▲
2024 · 277.8%
Debt ≤ 1 year
€165,248▲
2024 · €101,706
Debt > 1 year
€7,153▼
2024 · €16,549
Income taxes
€20,403▲
2024 · €15,204
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - |
| full-time | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | - |
| Average over the year, in full-time equivalents | 0.8 | 1 | 0.7 |
| On a permanent contract | 1 | 1 | - |
| Joined | 2 | - | 0 |
| Left | 2 | - | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,863 | €18,951 | - | €29,115 | €2,051 |
| Depreciation and write-downs of the year | €1,093 | €5,176 | €5,462 | €5,908 | €11,599 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €38,582 | €30,641 | €24,355 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,093 | €5,176 | €5,462 | €5,908 | €11,599 | ▲ 96.3% |
| Other operating charges640/8 | €1,663 | €644 | €825 | €1,899 | €2,027 | ▲ 6.8% |
| Gross operating margin9900 | €46,471 | €33,496 | €61,208 | €63,229 | €110,597 | ▲ 74.9% |
| Operating profit (loss)9901 | €5,134 | -€2,965 | €30,567 | €55,422 | €96,971 | ▲ 75.0% |
| Financial income75/76B | - | - | - | €50 | €85 | ▲ 71.3% |
| Recurring financial income75 | - | - | - | €50 | €85 | ▲ 71.3% |
| Financial charges65/66B | €1,764 | €534 | €303 | €471 | €1,013 | ▲ 115% |
| Recurring financial charges65 | €1,764 | €534 | €303 | €471 | €1,013 | ▲ 115% |
| Profit (loss) for the period before taxes9903 | €3,370 | -€3,498 | €30,264 | €55,001 | €96,044 | ▲ 74.6% |
| Income taxes67/77 | €1,762 | - | €4,843 | €15,204 | €20,403 | ▲ 34.2% |
| Profit (loss) for the period9904 | €1,608 | -€3,498 | €25,420 | €39,797 | €75,641 | ▲ 90.1% |
| Profit (loss) for the period to be appropriated9905 | €1,608 | -€3,498 | €25,420 | €39,797 | €75,641 | ▲ 90.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25,752 | €32,866 | €56,260 | €132,583 | €197,370 | ▲ 48.9% |
| Fixed assets21/28 | €3,769 | €17,545 | €12,082 | €35,289 | €25,742 | ▼ 27.1% |
| Tangible fixed assets22/27 | €3,769 | €17,545 | €12,082 | €35,289 | €25,742 | ▼ 27.1% |
| Plant, machinery and equipment23 | - | €1,017 | €664 | €310 | €0 | ▼ 100% |
| Furniture and vehicles24 | €3,769 | €2,148 | €618 | €27,756 | €22,097 | ▼ 20.4% |
| Leasing and similar rights25 | - | €14,379 | €10,801 | €7,223 | €3,645 | ▼ 49.5% |
| Current assets29/58 | €21,983 | €15,321 | €44,177 | €97,294 | €171,628 | ▲ 76.4% |
| Amounts receivable after more than one year29 | - | - | - | €15,000 | €15,000 | = |
| Other amounts receivable291 | - | - | - | €15,000 | €15,000 | = |
| Amounts receivable within one year40/41 | €5,641 | €1,086 | €24,811 | €65,776 | €116,247 | ▲ 76.7% |
| Trade receivables40 | €5,554 | €708 | €24,173 | €64,066 | €114,537 | ▲ 78.8% |
| Other amounts receivable41 | €87 | €378 | €638 | €1,710 | €1,710 | = |
| Cash at bank and in hand54/58 | €16,342 | €14,234 | €19,366 | €14,381 | €39,367 | ▲ 174% |
| Deferred charges and accrued income490/1 | - | - | - | €2,138 | €1,014 | ▼ 52.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25,752 | €32,866 | €56,260 | €132,583 | €197,370 | ▲ 48.9% |
| Equity10/15 | €4,608 | €1,110 | €26,531 | €14,328 | €24,968 | ▲ 74.3% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | - | €20,000 | €10,000 | €21,000 | ▲ 110% |
| Distributable reserves133 | - | - | €20,000 | €10,000 | €21,000 | ▲ 110% |
| Profit (loss) carried forward14 | €1,608 | -€1,890 | €3,531 | €1,328 | €968 | ▼ 27.1% |
| Amounts payable17/49 | €21,144 | €31,755 | €29,729 | €118,255 | €172,401 | ▲ 45.8% |
| Amounts payable after more than one year17 | - | €9,809 | €5,122 | €16,549 | €7,153 | ▼ 56.8% |
| Financial debts170/4 | - | €9,809 | €5,122 | €16,549 | €7,153 | ▼ 56.8% |
| Amounts payable within one year42/48 | €21,144 | €21,946 | €24,608 | €101,706 | €165,248 | ▲ 62.5% |
| Current portion of amounts payable after more than one year42 | - | €3,898 | €4,332 | €11,701 | €8,670 | ▼ 25.9% |
| Trade debts44 | €1,160 | €2,426 | €1,991 | €12,162 | €7,663 | ▼ 37.0% |
| Suppliers440/4 | €1,160 | €2,426 | €1,991 | €12,162 | €7,663 | ▼ 37.0% |
| Taxes, remuneration and social security45 | €19,984 | €15,622 | €18,285 | €37,844 | €44,980 | ▲ 18.9% |
| Taxes450/3 | €7,414 | €5,657 | €16,819 | €29,717 | €44,980 | ▲ 51.4% |
| Remuneration and social security454/9 | €12,570 | €9,965 | €1,467 | €8,127 | - | - |
| Other amounts payable47/48 | - | - | - | €40,000 | €103,936 | ▲ 160% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,608 | -€3,498 | €25,420 | €39,797 | €75,641 | ▲ 90.1% |
| + Depreciation and write-downs630 | €1,093 | €5,176 | €5,462 | €5,908 | €11,599 | ▲ 96.3% |
| Operating cash flow (approximation) | €2,702 | €1,677 | €30,883 | €45,705 | €87,239 | ▲ 90.9% |
| Investment in fixed assets (approximation) | - | -€18,951 | €0 | -€29,115 | -€2,051 | ▲ 93.0% |
| Change in cash | - | -€2,108 | €5,132 | -€4,986 | €24,987 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-09-2026 | 2026-00537298 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00524562 | |
| 31-12-2023 | micro format | 22-10-2024 | 2024-00512316 | |
| 31-12-2022 | micro format | 22-09-2023 | 2023-00452898 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20134333 |
Board & ownership
Directors
Directors
1 director
Baert Olivier David
Current
Owners and capital
Owners
Network & group
BWSDA shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of BWSDA. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
30-09
micro format · 61 days late
2025
31-12
Financial
Highest result from 2021 to 2025net €75,641 ▲90.1%
The operating result of €96,971 and the net result of €75,641 are both a record.
30-09
micro format · 61 days late
2024
22-10
micro format · 83 days late
2023
31-12
Financial
Back to profitnet €25,420
The net result is €25,420, after one loss-making year.
31-12
Financial
Liquidity more than doubledcurrent ratio 1.80
The current ratio rises from 0.70 to 1.80.
22-09
micro format · 53 days late
2022
31-12
Financial
Weakest financial yearnet -€3,498
The net result drops to -€3,498, the lowest from 2021 to 2025. It recovers the following year.
27-06
micro format · 34 days before the deadline
2020
14-07
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
BWSDA in French
Enterprise number
0750.486.228
Legal form
Private limited company
Status
Active, normale toestand
Founded
10-07-2020
Entity type
Legal entity
Registered office and establishments
Registered office
Saute 7, 4860 Pepinster, Belgium
Establishment unit
BWSDA, Saute 7, 4860 Pepinster since 04-08-2020 · unit number 2.305.323.774
Activities
NACEBEL 202564210
Activities of holding companies main activity
62100
Computer programming
62200
Computer consultancy and computer facilities management
63910
Web portal activities
74120
Graphic design and visual communication
85599
Other education
Codes under NACEBEL 2008
64200
Holdings main activity
62010
Computer programming, consultancy and related activities
62020
IT consultancy
63120
Computing infrastructure, data processing, hosting and other information service activities
74103
Other professional, scientific and technical activities
85599
Other education
Joint committee
200 Aanvullend Paritair Comité voor de bedienden annual accounts 2025
Invoicing and payment
VAT number
BE 0750.486.228
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
544 m²
Building footprint
414 m²
Building volume
2,271 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 63452A0140/00C000 | Wallonia | 544 m² | 1 · 414 m² | 16.3 m · 2 |