CWERC
ActiveSummary
CWERC has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €30,377 and a net result of -€2,158. Equity is shrinking by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 94% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-59
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
short-term debt: 0% and cash: 5.1% of total assets, and 4.7% of the assets are financed with debt.
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Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
95.3%
Return on assets
-6.8%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 18-12-2025, 44 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
44 d early
2024
43 d early
2023
40 d early
2022
40 d early
2021
42 d early
2020
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 35 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 20 December (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€30,377▼ 6.6%
2024 · €32,534
Total assets
€31,877▼ 18.2%
2024 · €38,972
Net result
-€2,158
2024 · €90
Working capital
€31,877▼ 5.3%
2024 · €33,656
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Operating result€13,633€218,813▲ 1,505%€199,030▼ 9.0%€16,852▼ 91.5%-€1,715
Net result€12,032within the sector's middle half€171,467above the sector's middle half▲ 1,325%€133,770above the sector's middle half▼ 22.0%€90below the sector's middle half▼ 99.9%-€2,158below the sector's middle half
Equity€67,207below the sector's middle half▲ 21.8%€238,674within the sector's middle half▲ 255%€32,444within the sector's middle half▼ 86.4%€32,534within the sector's middle half▲ 0.3%€30,377within the sector's middle half▼ 6.6%
Total assets€150,631below the sector's middle half▲ 169%€346,173below the sector's middle half▲ 130%€180,977within the sector's middle half▼ 47.7%€38,972below the sector's middle half▼ 78.5%€31,877below the sector's middle half▼ 18.2%
Debt€83,424▲ 10,045%€107,499▲ 28.9%€148,533▲ 38.2%€6,438▼ 95.7%€1,500▼ 76.7%
Working capital€113,452within the sector's middle half▲ 106%€132,553within the sector's middle half▲ 16.8%€30,762within the sector's middle half▼ 76.8%€33,656within the sector's middle half▲ 9.4%€31,877within the sector's middle half▼ 5.3%
Solvency44.6%within the sector's middle half▼ 53.9pp68.9%within the sector's middle half▲ 24.3pp17.9%below the sector's middle half▼ 51.0pp83.5%above the sector's middle half▲ 65.6pp95.3%above the sector's middle half▲ 11.8pp
Current ratio13.71above the sector's middle half▼ 54.392.83within the sector's middle half▼ 10.881.21within the sector's middle half▼ 1.627.91above the sector's middle half▲ 6.70
Return on assets (ROA)8.0%within the sector's middle half▲ 21.1pp49.5%above the sector's middle half▲ 41.5pp73.9%above the sector's middle half▲ 24.4pp0.2%below the sector's middle half▼ 73.7pp-6.8%below the sector's middle half▼ 7.0pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1,715 after €16,852 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €31,877
Equity
€30,377 ▼ 6.6%
Debt
€1,500 ▼ 76.7%
Debt's share of the balance-sheet total falls from 16.5% to 4.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,267▼
2024 · €19,587
Cash flow
-€1,711▼
2024 · €2,825
Debt to equity
0.05▼
2024 · 0.20
ROE
-7.1%▼
2024 · 0.3%
Interest coverage
-2.84▼
2024 · 21.72
Debt ≤ 1 year
€0▼
2024 · €4,869
Income taxes
€2▼
2024 · €16,095
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,441 companies that looked in July 2024 the way this one looks now, 2.3% went bankrupt within 24 months and 90% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
2.3%
went bankrupt
7.5%
stopped otherwise
90%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,441 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €932 | €16,958 | €3,037 | €2,735 | €447 | ▼ 83.6% |
| Other operating charges640/8 | - | €348 | €373 | €7,846 | €387 | ▼ 95.1% |
| Non-recurring operating charges66A | - | - | €91,795 | €0 | - | - |
| Gross operating margin9900 | €14,912 | €236,119 | €294,235 | €27,433 | -€880 | ▼ 103% |
| Operating profit (loss)9901 | €13,633 | €218,813 | €199,030 | €16,852 | -€1,715 | ▼ 110% |
| Financial income75/76B | - | €7 | €6 | €234 | €5 | ▼ 97.8% |
| Recurring financial income75 | - | €7 | €6 | €234 | €5 | ▼ 97.8% |
| Financial charges65/66B | - | €182 | €19,663 | €902 | €447 | ▼ 50.4% |
| Recurring financial charges65 | €43 | €182 | €148 | €902 | €447 | ▼ 50.4% |
| Non-recurring financial charges66B | - | - | €19,515 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €13,590 | €218,638 | €179,373 | €16,185 | -€2,156 | ▼ 113% |
| Income taxes67/77 | €1,558 | €47,171 | €45,603 | €16,095 | €2 | ▼ 100.0% |
| Profit (loss) for the period9904 | €12,032 | €171,467 | €133,770 | €90 | -€2,158 | ▼ 2,492% |
| Profit (loss) for the period to be appropriated9905 | €12,032 | €171,467 | €133,770 | €90 | -€2,158 | ▼ 2,492% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €150,631 | €346,173 | €180,977 | €38,972 | €31,877 | ▼ 18.2% |
| Fixed assets21/28 | €28,255 | €141,265 | €3,182 | €447 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €23,617 | €136,627 | €3,182 | €447 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | €28,093 | €0 | - | - | - |
| Furniture and vehicles24 | - | €80,998 | €3,182 | €447 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | €27,536 | €0 | - | - | - |
| Financial fixed assets28 | €4,638 | €4,638 | €0 | - | - | - |
| Current assets29/58 | €122,376 | €204,909 | €177,795 | €38,525 | €31,877 | ▼ 17.3% |
| Amounts receivable within one year40/41 | €50,417 | €62,516 | €2,354 | €452 | €547 | ▲ 21.1% |
| Trade receivables40 | - | €62,516 | €0 | - | - | - |
| Other amounts receivable41 | - | - | €2,354 | €452 | €547 | ▲ 21.1% |
| Current investments50/53 | - | - | - | €30,000 | €29,692 | ▼ 1.0% |
| Cash at bank and in hand54/58 | €2,384 | €58,846 | €173,941 | €8,036 | €1,637 | ▼ 79.6% |
| Deferred charges and accrued income490/1 | - | €83,547 | €1,500 | €36 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €150,631 | €346,173 | €180,977 | €38,972 | €31,877 | ▼ 18.2% |
| Equity10/15 | €67,207 | €238,674 | €32,444 | €32,534 | €30,377 | ▼ 6.6% |
| Contributions10/11 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Capital10 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Issued capital100 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Reserves13 | €235 | €171,250 | €31,250 | €31,250 | €31,250 | = |
| Non-distributable reserves130/1 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Legal reserve130 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Distributable reserves133 | - | €165,000 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | €4,472 | €4,924 | -€61,306 | -€61,216 | -€63,373 | ▼ 3.5% |
| Amounts payable17/49 | €83,424 | €107,499 | €148,533 | €6,438 | €1,500 | ▼ 76.7% |
| Amounts payable after more than one year17 | €41,000 | €0 | - | - | - | - |
| Other amounts payable178/9 | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €8,924 | €72,355 | €147,033 | €4,869 | €0 | ▼ 100% |
| Trade debts44 | €1,286 | €8,477 | €1,299 | €207 | €0 | ▼ 100% |
| Suppliers440/4 | - | €8,477 | €1,299 | €207 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €58,289 | €0 | €4,582 | €0 | ▼ 100% |
| Taxes450/3 | - | €58,289 | €0 | €4,582 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €5,589 | €145,735 | €80 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €35,144 | €1,500 | €1,569 | €1,500 | ▼ 4.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,032 | €171,467 | €133,770 | €90 | -€2,158 | ▼ 2,492% |
| + Depreciation and write-downs630 | €932 | €16,958 | €3,037 | €2,735 | €447 | ▼ 83.6% |
| Operating cash flow (approximation) | €12,964 | €188,425 | €136,807 | €2,825 | -€1,711 | ▼ 161% |
| Investment in fixed assets (approximation) | - | -€129,968 | €135,045 | €0 | €0 | - |
| Change in cash | - | €56,462 | €115,095 | -€165,905 | -€6,399 | ▲ 96.1% |
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
26-08
State Gazette act
Reappointment: Quercus 13 Holding NV (sole director)Permanent representative: Dirk Bontridder4 facts ▸
State Gazette act
Reappointment: Quercus 13 Holding NV (sole director)
Permanent representative: Dirk Bontridder4 facts ▸
- General meeting, 10-08-2026
- Director reappointment, Quercus 13 Holding NV (sole director)
- Permanent representative, Dirk Bontridder (permanent representative)
- Other statement, 11-12-2025, bekrachtiging daden van bestuur en vertegenwoordiging
2025
18-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
19-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Liquidity times 7current ratio 7.91
Current ratio from 1.21 to 7.91; short-term debt falls from €147,033 to €4,869.
2023
22-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
22-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Highest result since 2020net €171,467 ▲1,325%
Operating result €218,813, net result €171,467, both a record.
30-06
Financial
Equity above €200,000Eq €238,674 ▲255%
2 profitable years in a row build equity to €238,674.
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Back to profitnet €12,032
Net result €12,032 after one loss-making year.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
QUERCUS 13 HOLDING
CurrentSole director · since 10-08-2026 · Public limited company · perm. rep.: Dirk Bontridder
Permanent representatives 1
Dirk Bontridder
CurrentPermanent representative · since 10-08-2026 · for QUERCUS 13 HOLDING
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Genesius-Rode · 1 establishment unit since 2019
Ground area
4,887 m²
Building footprint
666 m²
Volume, LiDAR
4,105 m³
2 parcels, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
CWERC
since 20192.296.816.280
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22552F0004/00S034 | Flanders | 3,647 m² | 1 · 366 m² | 10.7 m · 2 fl. |
| 23023A0500/00H000 | Flanders | 1,240 m² | 1 · 300 m² | 10.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| QUERCUS 13 HOLDING |
|
Articles of association
Other statement
One provision in the deed
Structure & network
Owners and holdings
1 ownerChain of control
- QUERCUS 13 HOLDING
- CWERC
Highest known parent: QUERCUS 13 HOLDING. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,623. 34,488 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
Founded11-12-2019
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738964608
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.