Conquest4Wind P5
ActiveSummary
Conquest4Wind P5 has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13.1m and a net result of €1.9m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 38% of 270 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▲+9
Solvency45▲+4
Growth85=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €800,000 at 30 days acceptable
Liquidity ample (current ratio 2.11 against 1.82 in 2024; short-term debt: 9.2% and cash: 3.2% of total assets), but 79.8% 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
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer 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
20.2%
Return on assets
3%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €13.1m
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 08-04-2026, 114 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
114 d early
2024
128 d early
2023
103 d early
2022
154 d early
2021
94 d early
2020
54 d early
2019
67 d early
← 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 102 days before the deadline; the sector median for financial year 2024 is 23 days before the deadline, and 27% 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, full schema
In the rankings
#7 company by total assets in Brussels, Energy sector
Turnover
€8.1m▲ 2.4%
2024 · €7.9m
EBIT margin
31.9%▲ 6.5pp
2024 · 25.4%
Net result
€1.9m▲ 29.7%
2024 · €1.5m
Working capital
€6.6m▲ 18.4%
2024 · €5.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, 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€8.5m▲ 462%€10.7m▲ 26.6%€17.0m▲ 58.2%€7.9m▼ 53.3%€8.1m▲ 2.4%
Operating result€3.6m▲ 711%€5.5m▲ 55.5%€11.6m▲ 111%€2.0m▼ 82.7%€2.6m▲ 28.6%
Net result€2.7mabove the sector's middle half▲ 624%€4.0mabove the sector's middle half▲ 46.3%€8.5mabove the sector's middle half▲ 113%€1.5mabove the sector's middle half▼ 82.5%€1.9mabove the sector's middle half▲ 29.7%
EBIT margin41.9%▲ 12.9pp51.5%▲ 9.6pp68.5%▲ 17.0pp25.4%▼ 43.1pp31.9%▲ 6.5pp
Equity€1.1mwithin the sector's middle half▲ 6.6%€1.2mwithin the sector's middle half▲ 8.0%€9.7mabove the sector's middle half▲ 715%€11.2mabove the sector's middle half▲ 15.3%€13.1mabove the sector's middle half▲ 17.2%
Total assets€76.9mabove the sector's middle half▲ 14.7%€69.6mabove the sector's middle half▼ 9.5%€70.5mabove the sector's middle half▲ 1.3%€68.3mabove the sector's middle half▼ 3.2%€64.9mabove the sector's middle half▼ 5.0%
Debt€75.7m▲ 14.6%€68.2m▼ 9.9%€60.4m▼ 11.3%€56.6m▼ 6.4%€51.1m▼ 9.6%
Working capital-€1.7m▼ 5.9%-€2.7m▼ 58.3%€5.0m€5.6m▲ 11.2%€6.6m▲ 18.4%
Solvency1.4%below the sector's middle half▼ 0.1pp1.7%below the sector's middle half▲ 0.3pp13.7%within the sector's middle half▲ 12.0pp16.4%within the sector's middle half▲ 2.6pp20.2%within the sector's middle half▲ 3.8pp
above
within
below
the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 29% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64.9m
Fixed assets
€52.3m ▼ 6.3%
Current assets
€12.6m ▲ 1.1%
Equity and liabilities €64.9m
Equity
€13.1m ▲ 17.2%
Provisions
€645,400 ▲ 24.3%
Debt
€51.1m ▼ 9.6%
Debt's share of the balance-sheet total falls from 82.9% to 78.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6.1m▲
2024 · €5.6m
Cash flow
€5.5m▲
2024 · €5.0m
Current ratio
2.11▲
2024 · 1.82
Debt to equity
3.90▼
2024 · 5.06
ROE
14.7%▲
2024 · 13.3%
ROA
3.0%▲
2024 · 2.2%
Interest coverage
3.28▲
2024 · 1.91
Debt ≤ 1 year
€5.9m▼
2024 · €6.8m
Debt > 1 year
€45.2m▼
2024 · €49.8m
Income taxes
€245,163▲
2024 · €95,206
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 301 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 98% are still going.
- Large
- solvency 10 to 30%
- a profit under 5% of the balance sheet
- without age
1.3%
went bankrupt
1.0%
stopped otherwise
98%
still going
For this company itself Checked computes a bankruptcy probability of 0.4% 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 301 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €8.5m | €10.7m | €17.1m | €8.1m | €8.1m | ▲ 0.7% |
| Turnover70 | €8.5m | €10.7m | €17.0m | €7.9m | €8.1m | ▲ 2.4% |
| Other operating income74 | - | - | €84,093 | €138,089 | - | - |
| Operating charges60/66A | €4.9m | €5.2m | €5.4m | €6.1m | €5.5m | ▼ 8.6% |
| Services and other goods61 | €1.3m | €1.5m | €1.7m | €2.0m | €1.9m | ▼ 8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3.5m | €3.5m | €3.5m | €3.5m | €3.5m | = |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €126,000 | €126,000 | €126,000 | €126,000 | €126,000 | = |
| Other operating charges640/8 | €3,793 | €16,049 | €37,225 | €357,714 | €10,783 | ▼ 97.0% |
| Operating profit (loss)9901 | €3.6m | €5.5m | €11.6m | €2.0m | €2.6m | ▲ 28.6% |
| Financial income75/76B | €4 | €95,908 | €2.2m | €2.5m | €1.5m | ▼ 41.3% |
| Recurring financial income75 | €4 | €95,908 | €2.2m | €2.5m | €1.5m | ▼ 41.3% |
| Income from current assets751 | €4 | €95,908 | €2.2m | €2.5m | €1.5m | ▼ 41.3% |
| Other financial income752/9 | - | €0 | - | €0 | €0 | ▼ 66.7% |
| Financial charges65/66B | €828,692 | €890,134 | €2.8m | €2.9m | €1.9m | ▼ 35.6% |
| Recurring financial charges65 | €828,692 | €890,134 | €2.8m | €2.9m | €1.9m | ▼ 35.6% |
| Debt charges650 | €794,504 | €841,576 | €2.8m | €2.9m | €1.9m | ▼ 35.7% |
| Other financial charges652/9 | €34,188 | €48,558 | €7,555 | €12,545 | €12,377 | ▼ 1.3% |
| Profit (loss) for the period before taxes9903 | €2.7m | €4.7m | €11.0m | €1.6m | €2.2m | ▲ 37.4% |
| Income taxes67/77 | - | €746,721 | €2.5m | €95,206 | €245,163 | ▲ 158% |
| Taxes670/3 | - | €746,721 | €2.5m | €95,206 | €245,163 | ▲ 158% |
| Tax adjustments and reversals of tax provisions77 | - | - | €4,557 | - | - | - |
| Profit (loss) for the period9904 | €2.7m | €4.0m | €8.5m | €1.5m | €1.9m | ▲ 29.7% |
| Profit (loss) for the period to be appropriated9905 | €2.7m | €4.0m | €8.5m | €1.5m | €1.9m | ▲ 29.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €76.9m | €69.6m | €70.5m | €68.3m | €64.9m | ▼ 5.0% |
| Fixed assets21/28 | €66.3m | €62.9m | €59.4m | €55.9m | €52.3m | ▼ 6.3% |
| Tangible fixed assets22/27 | €66.3m | €62.9m | €59.4m | €55.9m | €52.3m | ▼ 6.3% |
| Plant, machinery and equipment23 | €66.3m | €62.9m | €59.4m | €55.9m | €52.3m | ▼ 6.3% |
| Current assets29/58 | €10.6m | €6.7m | €11.2m | €12.4m | €12.6m | ▲ 1.1% |
| Amounts receivable within one year40/41 | €1.5m | €449,314 | €4.4m | €2.2m | €1.4m | ▼ 37.0% |
| Trade receivables40 | €1.5m | €445,926 | €4.4m | €895,911 | €1.4m | ▲ 54.2% |
| Other amounts receivable41 | - | €3,389 | €3,389 | €1.3m | €3,389 | ▼ 99.7% |
| Current investments50/53 | - | - | - | €6.4m | €9.0m | ▲ 40.6% |
| Other investments51/53 | - | - | - | €6.4m | €9.0m | ▲ 40.6% |
| Cash at bank and in hand54/58 | €8.9m | €6.2m | €6.7m | €3.5m | €2.1m | ▼ 40.3% |
| Deferred charges and accrued income490/1 | €159,893 | €81,336 | €95,120 | €299,760 | €70,237 | ▼ 76.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €76.9m | €69.6m | €70.5m | €68.3m | €64.9m | ▼ 5.0% |
| Equity10/15 | €1.1m | €1.2m | €9.7m | €11.2m | €13.1m | ▲ 17.2% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Non-distributable reserves130/1 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Legal reserve130 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | €1,683 | €89,440 | €8.6m | €10.1m | €12.0m | ▲ 19.1% |
| Provisions and deferred taxes16 | €141,400 | €267,400 | €393,400 | €519,400 | €645,400 | ▲ 24.3% |
| Provisions for liabilities and charges160/5 | €141,400 | €267,400 | €393,400 | €519,400 | €645,400 | ▲ 24.3% |
| Other liabilities and charges164/5 | €141,400 | €267,400 | €393,400 | €519,400 | €645,400 | ▲ 24.3% |
| Amounts payable17/49 | €75.7m | €68.2m | €60.4m | €56.6m | €51.1m | ▼ 9.6% |
| Amounts payable after more than one year17 | €63.3m | €58.8m | €54.3m | €49.8m | €45.2m | ▼ 9.2% |
| Financial debts170/4 | €63.3m | €58.8m | €54.3m | €49.8m | €45.2m | ▼ 9.2% |
| Credit institutions173 | €63.3m | €58.8m | €54.3m | €49.8m | €45.2m | ▼ 9.2% |
| Amounts payable within one year42/48 | €12.3m | €9.4m | €6.1m | €6.8m | €5.9m | ▼ 13.0% |
| Current portion of amounts payable after more than one year42 | €4.8m | €4.5m | €4.5m | €4.5m | €4.6m | ▲ 0.3% |
| Financial debts43 | €2.6m | - | - | - | - | - |
| Other loans439 | €2.6m | - | - | - | - | - |
| Trade debts44 | €2.0m | €363,404 | €577,502 | €1.9m | €969,702 | ▼ 48.6% |
| Suppliers440/4 | €2.0m | €363,404 | €577,502 | €1.9m | €969,702 | ▼ 48.6% |
| Taxes, remuneration and social security45 | €175,534 | €598,299 | €1.1m | €413,322 | €423,592 | ▲ 2.5% |
| Taxes450/3 | €175,534 | €598,299 | €1.1m | €413,322 | €423,592 | ▲ 2.5% |
| Other amounts payable47/48 | €2.7m | €3.9m | - | - | - | - |
| Accrued charges and deferred income492/3 | €49,316 | - | €16,444 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.7m | €4.0m | €8.5m | €1.5m | €1.9m | ▲ 29.7% |
| + Depreciation and write-downs630 | €3.5m | €3.5m | €3.5m | €3.5m | €3.5m | = |
| Operating cash flow (approximation) | €6.2m | €7.5m | €12.0m | €5.0m | €5.5m | ▲ 8.8% |
| Investment in fixed assets (approximation) | - | -€154,667 | -€12,500 | -€23,660 | -€2,000 | ▲ 91.5% |
| Change in cash | - | -€2.7m | €465,546 | -€3.1m | -€1.4m | ▲ 54.8% |
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
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €10mEq €11.2m ▲15.3%
5 profitable years in a row build equity to €11.2m.
19-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €8.5m ▲113%
Operating result €11.6m, net result €8.5m, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.82
Current ratio from 0.72 to 1.82; short-term debt falls from €9.4m to €6.1m.
31-12
Financial
Equity above €5mEq €9.7m ▲715%
4 profitable years in a row build equity to €9.7m.
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €376,730
Net result €376,730 after 2 loss-making years.
31-12
Financial
Equity above €1mEq €1.0m ▲57.4%
Equity rises from €656,351 to €1.0m.
Show earlier events
25-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet -€342,816
Net result drops to -€342,816, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500,000Eq €656,351 ▲1,235%
Equity rises from €49,168 to €656,351.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 17 acts read
About the unread acts
We know of 17 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
17 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, Brussel · 1 establishment unit since 2018
Ground area
5,799 m²
Building footprint
2,489 m²
Volume, LiDAR
131,585 m³
Parcel 21813D0439/00P009, Brussels · tallest building 64.0 m, ±19 floors. Linked by address, not a title deed.
50
companies at this address
See who is registered here
1 establishment unit
Conquest4Wind P5
since 20182.277.617.210
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21813D0439/00P009 | Brussels | 5,799 m² | 1 · 2,489 m² | 64.0 m · 19 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.
Structure & network
Part of the group
ENGIE
57 companies
Group, risk and exposure
Owners and holdings
3 ownersChain of control
- ENGIEFR
- Conquest4Wind P5
Highest known parent: ENGIE (France). The sources do not say who stands above it.
Owners 3
- Conquest Reye Invest II BVBALUparentSourceown accounts 202551%
- ENGIEFRparentSourceLEI registerconsolidated
-
49%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of Conquest4Wind P5 and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
549300NCFHOHE3YCMX38
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Of 563 companies in sector 35150 we hold annual accounts for 230. 62 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
35150Electricity, gas, steam and air conditioning supply
35110Production of electricity from non-renewable sources
E-invoicing
Reachable via Peppol
Peppol ID
0208:0697691997
Also
9925:BE0697691997
Registered
15-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.