CWIN
ActiveSummary
CWIN has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €379k and a net result of €23k. Equity remains stable across the filed fiscal years (±2.5% per year). Its solvency ranks better than 39% of 399 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability73▼-2
Solvency76▲+8
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 1.62 against 1.33 in 2025; short-term debt: 9.6% and cash: 2.6% of total assets), and 48.6% of the assets are financed with debt.
Credit check for your own amount and term
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
51.4%
Return on assets
3.2%
Age of the figures
6 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 06-07-2026, 117 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
117 d early
2025
123 d early
2024
106 d early
2023
98 d early
2022
3 d early
2021
5 d early
2020
113 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-03-2027 close31-10-2027 deadline
Financials · fiscal year 2026, micro schema
Equity
€379k▲ 6.5%
2025 · €355k
2019: €269klowest in 8 years
2020: €340k▲ +26.3% vs 2019
2021: €346k▲ +1.8% vs 2020
2022: €396k▲ +14.5% vs 2021
2023: €403k▲ +1.6% vs 2022highest in 8 years
2024: €387k▼ -3.8% vs 2023
2025: €355k▼ -8.2% vs 2024
2026: €379k▲ +6.5% vs 2025
2019 → 2026
Total assets
€737k▼ 11.7%
2025 · €834k
2019: €753k
2020: €497k▼ -34.0% vs 2019lowest in 8 years
2021: €1.04M▲ +108% vs 2020highest in 8 years
2022: €941k▼ -9.2% vs 2021
2023: €948k▲ +0.8% vs 2022
2024: €877k▼ -7.5% vs 2023
2025: €834k▼ -4.9% vs 2024
2026: €737k▼ -11.7% vs 2025
2019 → 2026
Net result
€23k▼ 40.5%
2025 · €39k
2019: €70k
2020: €71k▲ +1.0% vs 2019
2021: €98k▲ +38.7% vs 2020highest in 8 years
2022: €71k▼ -27.9% vs 2021
2023: €81k▲ +13.7% vs 2022
2024: €55k▼ -32.1% vs 2023
2025: €39k▼ -28.5% vs 2024
2026: €23k▼ -40.5% vs 2025lowest in 8 years
2019 → 2026
Working capital
€44k▼ 10.6%
2025 · €49k
2019: €26klowest in 8 years
2020: €154k▲ +498% vs 2019
2021: €103k▼ -33.4% vs 2020
2022: €111k▲ +8.0% vs 2021
2023: €161k▲ +44.6% vs 2022highest in 8 years
2024: €109k▼ -31.9% vs 2023
2025: €49k▼ -55.5% vs 2024
2026: €44k▼ -10.6% vs 2025
2019 → 2026
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Equity€396k-€403k▲ 1.6%€387k▼ 3.8%€355k▼ 8.2%€379k▲ 6.5%
2022: €396k
2023: €403k▲ +1.6% vs 2022highest in 5 years
2024: €387k▼ -3.8% vs 2023
2025: €355k▼ -8.2% vs 2024lowest in 5 years
2026: €379k▲ +6.5% vs 2025
Operating result€107k-€117k▲ 9.3%€86k▼ 26.9%€66k▼ 23.5%€46k▼ 29.2%
2022: €107k
2023: €117k▲ +9.3% vs 2022highest in 5 years
2024: €86k▼ -26.9% vs 2023
2025: €66k▼ -23.5% vs 2024
2026: €46k▼ -29.2% vs 2025lowest in 5 years
Net result€71k-€81k▲ 13.7%€55k▼ 32.1%€39k▼ 28.5%€23k▼ 40.5%
2022: €71k
2023: €81k▲ +13.7% vs 2022highest in 5 years
2024: €55k▼ -32.1% vs 2023
2025: €39k▼ -28.5% vs 2024
2026: €23k▼ -40.5% vs 2025lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2026 is 29% below 2025 and is the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €737k
Fixed assets
€623k ▼ 2.6%
Current assets
€114k ▼ 41.4%
Equity and liabilities €737k
Equity
€379k ▲ 6.5%
Debt
€358k ▼ 25.2%
Debt's share of the balance-sheet total falls from 57.4% to 48.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€65k▼
2025 · €88k
Cash flow
€42k▼
2025 · €61k
Current ratio
1.62▲
2025 · 1.33
Debt to equity
0.95▼
2025 · 1.35
ROE
6.1%▼
2025 · 11.0%
ROA
3.2%▼
2025 · 4.7%
Interest coverage
6.54▼
2025 · 8.40
Debt ≤ 1 year
€70k▼
2025 · €146k
Debt > 1 year
€288k▼
2025 · €333k
Income taxes
€13k▼
2025 · €17k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2026 against 2025 · 52 lines
Balance sheet
Code20252026
Assets
Total assets20/58€834k€737k▼
Fixed assets21/28€640k€623k▼
Tangible fixed assets22/27€640k€623k▼
Land and buildings22€595k€582k▼
Furniture and vehicles24€3k€2k▼
Other tangible fixed assets26€42k€39k▼
Current assets29/58€195k€114k▼
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Amounts receivable within one year40/41€24k€27k▲
Trade receivables40€17k€15k▼
Other amounts receivable41€8k€12k▲
Current investments50/53€100k€65k▼
Cash at bank and in hand54/58€68k€19k▼
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€834k€737k▼
Equity10/15€355k€379k▲
Contributions10/11€12k€12k=
Reserves13€343k€366k▲
Distributable reserves133€343k€366k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€479k€358k▼
Amounts payable after more than one year17€333k€288k▼
Financial debts170/4€333k€288k▼
Amounts payable within one year42/48€146k€70k▼
Current portion of amounts payable after more than one year42€46k€45k▼
Financial debts43€8k€6k▼
Credit institutions430/8€8k€6k▼
Trade debts44€3k€4k▲
Suppliers440/4€3k€4k▲
Taxes, remuneration and social security45€8k€5k▼
Taxes450/3€7k€5k▼
Remuneration and social security454/9€2k€0▼
Other amounts payable47/48€80k€11k▼
Income statement
Code20252026
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€18k▼
Other operating charges640/8€6k€6k▼
Gross operating margin9900€94k€71k▼
Operating profit (loss)9901€66k€46k▼
Financial income75/76B€696€82▼
Recurring financial income75€696€82▼
Financial charges65/66B€10k€10k▼
Recurring financial charges65€10k€10k▼
Profit (loss) for the period before taxes9903€56k€37k▼
Income taxes67/77€17k€13k▼
Profit (loss) for the period9904€39k€23k▼
Profit (loss) for the period to be appropriated9905€39k€23k▼
Appropriation of the result
Profit (loss) to be appropriated9906€39k€23k▼
Transfer from equity791/2€71k€0▼
Transfer to equity691/2€39k€23k▼
To other reserves6921€39k€23k▼
Profit to be distributed694/7€71k€0▼
Return on contributions (dividend)694€71k€0▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22k | €22k | €23k | €22k | €18k | ▼ 18.1% |
| Other operating charges640/8 | €6k | €6k | €5k | €6k | €6k | ▼ 1.0% |
| Gross operating margin9900 | €135k | €145k | €113k | €94k | €71k | ▼ 24.7% |
| Operating profit (loss)9901 | €107k | €117k | €86k | €66k | €46k | ▼ 29.2% |
| Financial income75/76B | €1k | €40k | €2k | €696 | €82 | ▼ 88.2% |
| Recurring financial income75 | €1k | €40k | €2k | €696 | €82 | ▼ 88.2% |
| Financial charges65/66B | €8k | €7k | €7k | €10k | €10k | ▼ 5.4% |
| Recurring financial charges65 | €8k | €7k | €7k | €10k | €10k | ▼ 5.4% |
| Profit (loss) for the period before taxes9903 | €101k | €151k | €81k | €56k | €37k | ▼ 34.4% |
| Income taxes67/77 | €30k | €70k | €27k | €17k | €13k | ▼ 20.0% |
| Profit (loss) for the period9904 | €71k | €81k | €55k | €39k | €23k | ▼ 40.5% |
| Profit (loss) for the period to be appropriated9905 | €71k | €81k | €55k | €39k | €23k | ▼ 40.5% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €941k | €948k | €877k | €834k | €737k | ▼ 11.7% |
| Fixed assets21/28 | €730k | €633k | €620k | €640k | €623k | ▼ 2.6% |
| Tangible fixed assets22/27 | €655k | €633k | €620k | €640k | €623k | ▼ 2.6% |
| Land and buildings22 | €622k | €610k | €608k | €595k | €582k | ▼ 2.2% |
| Furniture and vehicles24 | €32k | €22k | €13k | €3k | €2k | ▼ 35.0% |
| Other tangible fixed assets26 | - | - | - | €42k | €39k | ▼ 7.0% |
| Financial fixed assets28 | €75k | €200 | €0 | - | - | - |
| Current assets29/58 | €211k | €315k | €257k | €195k | €114k | ▼ 41.4% |
| Amounts receivable after more than one year29 | €50k | €140k | €50k | €0 | - | - |
| Other amounts receivable291 | €50k | €140k | €50k | €0 | - | - |
| Amounts receivable within one year40/41 | €53k | €38k | €25k | €24k | €27k | ▲ 11.3% |
| Trade receivables40 | €50k | €16k | €25k | €17k | €15k | ▼ 8.1% |
| Other amounts receivable41 | €3k | €23k | €0 | €8k | €12k | ▲ 53.9% |
| Current investments50/53 | €40k | €65k | €150k | €100k | €65k | ▼ 35.0% |
| Cash at bank and in hand54/58 | €67k | €69k | €28k | €68k | €19k | ▼ 71.3% |
| Deferred charges and accrued income490/1 | €1k | €3k | €4k | €3k | €3k | ▼ 2.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €941k | €948k | €877k | €834k | €737k | ▼ 11.7% |
| Equity10/15 | €396k | €403k | €387k | €355k | €379k | ▲ 6.5% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €384k | €390k | €375k | €343k | €366k | ▲ 6.8% |
| Distributable reserves133 | €384k | €390k | €375k | €343k | €366k | ▲ 6.8% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €545k | €546k | €490k | €479k | €358k | ▼ 25.2% |
| Amounts payable after more than one year17 | €445k | €391k | €342k | €333k | €288k | ▼ 13.6% |
| Financial debts170/4 | €445k | €391k | €342k | €333k | €288k | ▼ 13.6% |
| Amounts payable within one year42/48 | €100k | €154k | €147k | €146k | €70k | ▼ 51.7% |
| Current portion of amounts payable after more than one year42 | €54k | €54k | €49k | €46k | €45k | ▼ 2.1% |
| Financial debts43 | €4k | €4k | €4k | €8k | €6k | ▼ 25.7% |
| Credit institutions430/8 | €4k | €4k | €4k | €8k | €6k | ▼ 25.7% |
| Trade debts44 | €1k | €3k | €2k | €3k | €4k | ▲ 19.1% |
| Suppliers440/4 | €1k | €3k | €2k | €3k | €4k | ▲ 19.1% |
| Taxes, remuneration and social security45 | €18k | €12k | €11k | €8k | €5k | ▼ 44.7% |
| Taxes450/3 | €18k | €12k | €8k | €7k | €5k | ▼ 28.4% |
| Remuneration and social security454/9 | - | - | €3k | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | €23k | €82k | €82k | €80k | €11k | ▼ 86.4% |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71k | €81k | €55k | €39k | €23k | ▼ 40.5% |
| + Depreciation and write-downs630 | €22k | €22k | €23k | €22k | €18k | ▼ 18.1% |
| Operating cash flow (approximation) | €93k | €102k | €77k | €61k | €42k | ▼ 32.4% |
| Investment in fixed assets (approximation) | - | €75k | €-10k | €-42k | €-1k | ▲ 96.8% |
| Change in cash | - | €2k | €-41k | €39k | €-48k | ▼ 223% |
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 2027, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
31-03
Financial
Weakest financial yearnet €23k ▼40.5%
Net result drops to €23k, the lowest in the series.
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €98k ▲38.7%
Operating result €123k, net result €98k, both a record.
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Liquidity doublescurrent ratio 2.99
Current ratio from 1.48 to 2.99.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
12-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Maaseik · 2 establishment units since 2011
Ground area
3,014 m²
Building footprint
305 m²
Volume, LiDAR
1,900 m³
2 parcels, Flanders · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
CWIN
since 20112.204.007.373
Monerikstraat 34, 3511 Hasselt
since 20202.322.046.079
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72021A1608/00D000 | Flanders | 1,514 m² | 1 · 183 m² | 7.7 m · 2 fl. |
| 71032B0342/00P000 | Flanders | 1,500 m² | 1 · 122 m² | 10.4 m · 3 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.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 36,717 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
Founded06-10-2011
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
68310Real estate agency activities
85599Other education
Contact
Phone
092106716
Scores and ratios are computed by Checked and are not a credit decision.