D.W.A.
ActiveSummary
D.W.A. has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €676,714 and a net result of -€2,678. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 82% of 9722 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability68▼-1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity short (current ratio 0.98 against 1.57 in 2023; short-term debt: 6% and cash: 0.9% of total assets), and 23.8% 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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 2024Solvency, return and age of the figures
Solvency
76.2%
Return on assets
-0.3%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-07-2025, 27 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
27 d early
2023
16 d early
2022
4 d early
2021
32 d early
2020
12 d early
2019
56 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 25 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#6 company by equity in Ichtegem, Real estate sector#6 oldest company in Ichtegem, Real estate sector#8 company by total assets in Ichtegem, Real estate sector
Equity
€676,714▼ 0.4%
2023 · €679,391
Total assets
€888,598▲ 2.9%
2023 · €863,741
Net result
-€2,678
2023 · €4,237
Working capital
-€1,332
2023 · €14,678
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20202021202220232024
Operating result€59,967▲ 984%€59,764▼ 0.3%€40,018▼ 33.0%€6,097▼ 84.8%-€2,213
Net result€45,337above the sector's middle half▲ 865%€45,319within the sector's middle half=€34,351within the sector's middle half▼ 24.2%€4,237within the sector's middle half▼ 87.7%-€2,678within the sector's middle half
Equity€595,484above the sector's middle half▲ 8.2%€640,804within the sector's middle half▲ 7.6%€675,154within the sector's middle half▲ 5.4%€679,391within the sector's middle half▲ 0.6%€676,714within the sector's middle half▼ 0.4%
Total assets€857,163within the sector's middle half▼ 25.3%€863,085within the sector's middle half▲ 0.7%€845,920within the sector's middle half▼ 2.0%€863,741within the sector's middle half▲ 2.1%€888,598within the sector's middle half▲ 2.9%
Debt€32,209▼ 93.5%€21,981▼ 31.8%€2,165▼ 90.1%€25,899▲ 1,096%€53,434▲ 106%
Working capital€392,910▲ 78.4%€418,809▲ 6.6%€421,540▲ 0.7%€14,678▼ 96.5%-€1,332
Solvency69.5%above the sector's middle half▲ 21.6pp74.2%above the sector's middle half▲ 4.8pp79.8%above the sector's middle half▲ 5.6pp78.7%above the sector's middle half▼ 1.2pp76.2%above the sector's middle half▼ 2.5pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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 2024: a loss of €2,213 after €6,097 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €888,598
Fixed assets
€836,495 ▲ 1.6%
Current assets
€52,103 ▲ 28.4%
Equity and liabilities €888,598
Equity
€676,714 ▼ 0.4%
Provisions
€158,450 =
Debt
€53,434 ▲ 106%
Debt's share of the balance-sheet total rises from 3.0% to 6.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€20,030▲
2023 · €17,917
Cash flow
€19,565▲
2023 · €16,057
Current ratio
0.98▼
2023 · 1.57
Debt to equity
0.08▲
2023 · 0.04
ROE
-0.4%▼
2023 · 0.6%
ROA
-0.3%▼
2023 · 0.5%
Interest coverage
43.06▲
2023 · 40.06
Debt ≤ 1 year
€53,434▲
2023 · €25,899
Income taxes
€0▼
2023 · €1,412
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 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% | 1.6% |
| 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 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 8,594 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,953 | €4,915 | €4,915 | €11,820 | €22,242 | ▲ 88.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€29,170 | -€31,700 | -€10,150 | €0 | ▲ 100% |
| Other operating charges640/8 | - | €30,633 | €31,362 | €34,193 | €34,483 | ▲ 0.8% |
| Gross operating margin9900 | €223,640 | €66,142 | €44,595 | €41,959 | €54,512 | ▲ 29.9% |
| Operating profit (loss)9901 | €59,967 | €59,764 | €40,018 | €6,097 | -€2,213 | ▼ 136% |
| Financial income75/76B | - | €2,400 | €6,080 | €0 | - | - |
| Recurring financial income75 | €2,400 | €2,400 | €6,080 | €0 | - | - |
| Financial charges65/66B | - | €313 | €331 | €447 | €465 | ▲ 4.0% |
| Recurring financial charges65 | €1,078 | €313 | €331 | €447 | €465 | ▲ 4.0% |
| Profit (loss) for the period before taxes9903 | €61,288 | €61,851 | €45,768 | €5,649 | -€2,678 | ▼ 147% |
| Income taxes67/77 | €15,952 | €16,532 | €11,417 | €1,412 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €45,337 | €45,319 | €34,351 | €4,237 | -€2,678 | ▼ 163% |
| Profit (loss) for the period to be appropriated9905 | €45,337 | €45,319 | €34,351 | €4,237 | -€2,678 | ▼ 163% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €857,163 | €863,085 | €845,920 | €863,741 | €888,598 | ▲ 2.9% |
| Fixed assets21/28 | €432,044 | €427,129 | €422,215 | €823,163 | €836,495 | ▲ 1.6% |
| Tangible fixed assets22/27 | €432,044 | €427,129 | €422,215 | €823,163 | €836,495 | ▲ 1.6% |
| Land and buildings22 | - | €427,129 | €422,215 | €681,102 | €695,006 | ▲ 2.0% |
| Plant, machinery and equipment23 | - | - | - | €142,061 | €141,490 | ▼ 0.4% |
| Current assets29/58 | €425,119 | €435,956 | €423,705 | €40,578 | €52,103 | ▲ 28.4% |
| Amounts receivable within one year40/41 | €162,400 | €162,400 | €334,800 | €17,720 | €42,374 | ▲ 139% |
| Trade receivables40 | - | - | - | - | €23,667 | - |
| Other amounts receivable41 | - | €162,400 | €334,800 | €17,720 | €18,708 | ▲ 5.6% |
| Cash at bank and in hand54/58 | €262,128 | €273,556 | €85,225 | €21,362 | €8,088 | ▼ 62.1% |
| Deferred charges and accrued income490/1 | - | €0 | €3,680 | €1,495 | €1,640 | ▲ 9.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €857,163 | €863,085 | €845,920 | €863,741 | €888,598 | ▲ 2.9% |
| Equity10/15 | €595,484 | €640,804 | €675,154 | €679,391 | €676,714 | ▼ 0.4% |
| Contributions10/11 | €566,000 | €566,000 | €566,000 | €566,000 | €566,000 | = |
| Capital10 | - | €566,000 | €566,000 | €566,000 | €566,000 | = |
| Issued capital100 | - | €566,000 | €566,000 | €566,000 | €566,000 | = |
| Reserves13 | €57,800 | €57,800 | €57,800 | €57,800 | €57,800 | = |
| Non-distributable reserves130/1 | - | €56,600 | €56,600 | €56,600 | €56,600 | = |
| Legal reserve130 | - | €56,600 | €56,600 | €56,600 | €56,600 | = |
| Distributable reserves133 | - | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Profit (loss) carried forward14 | -€28,315 | €17,004 | €51,355 | €55,592 | €52,914 | ▼ 4.8% |
| Provisions and deferred taxes16 | €229,470 | €200,300 | €168,600 | €158,450 | €158,450 | = |
| Provisions for liabilities and charges160/5 | - | €200,300 | €168,600 | €158,450 | €158,450 | = |
| Environmental obligations163 | - | €200,300 | €168,600 | €0 | - | - |
| Other liabilities and charges164/5 | - | - | - | €158,450 | €158,450 | = |
| Amounts payable17/49 | €32,209 | €21,981 | €2,165 | €25,899 | €53,434 | ▲ 106% |
| Amounts payable within one year42/48 | €32,209 | €17,147 | €2,165 | €25,899 | €53,434 | ▲ 106% |
| Trade debts44 | €12,651 | €0 | - | €1,091 | €30,043 | ▲ 2,654% |
| Suppliers440/4 | - | €0 | - | €1,091 | €30,043 | ▲ 2,654% |
| Taxes, remuneration and social security45 | - | €16,398 | €1,417 | €1,417 | €0 | ▼ 100% |
| Taxes450/3 | - | €16,398 | €1,417 | €1,417 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €748 | €748 | €23,391 | €23,391 | = |
| Accrued charges and deferred income492/3 | - | €4,835 | €0 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,337 | €45,319 | €34,351 | €4,237 | -€2,678 | ▼ 163% |
| + Depreciation and write-downs630 | €3,953 | €4,915 | €4,915 | €11,820 | €22,242 | ▲ 88.2% |
| Operating cash flow (approximation) | €49,290 | €50,234 | €39,265 | €16,057 | €19,565 | ▲ 21.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€412,768 | -€35,575 | ▲ 91.4% |
| Change in cash | - | €11,428 | -€188,331 | -€63,863 | -€13,274 | ▲ 79.2% |
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
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€2,678
Net result drops to -€2,678, the lowest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 8current ratio 195.68
Current ratio from 25.43 to 195.68; short-term debt falls from €17,147 to €2,165.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €45,337 ▲865%
Operating result €59,967, net result €45,337, both a record.
31-12
Financial
Liquidity times 9current ratio 13.20
Current ratio from 1.44 to 13.20; short-term debt falls from €497,960 to €32,209.
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
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, Ichtegem · 1 establishment unit since 1991
Ground area
2.5 ha
Building footprint
1,751 m²
Volume, LiDAR
10,007 m³
Parcel 35003B0731/00F002, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Oostendesteenweg(FEER) 199, 8480 Ichtegem
since 19912.052.710.832
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35003B0731/00F002 | Flanders | 2.5 ha | 1 · 1,751 m² | 7.9 m · 2 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
Owners and holdings
1 ownerChain of control
- HENDRIK VANLERBERGHE
- D.W.A.
Highest known parent: HENDRIK VANLERBERGHE. 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
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
IMMOFIN JANSSEN
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VEN-IMMO BRASSCHAAT
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JOMI
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ISERCO
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 5,008 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
Founded03-04-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0443863288
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.