de Waal

Active

Private limited companyfounded 20205 yrs activeStarrenhoflaan 7A, 2950 Kapellen, BelgiumKBO/BCE: BE 0759.395.083

The computed 12-month bankruptcy probability of de Waal is 2.8% (moderate). The 2024 annual accounts show equity of €1.00M and a net result of €170k. Equity is growing by ~26.7% per year across the filed fiscal years. Its solvency ranks better than 72% of 7447 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

73 / 100

Healthy

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability82▼-2

Solvency87▲+9

Growth52=

Track record94

Bankruptcy probability, 12 months

2.8% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €70k at 30 days acceptable

Liquidity ample (current ratio 2.26 against 1.87 in 2023; short-term debt: 37% and cash: 37.9% of total assets), and 37.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

62.4%

Return on assets

10.6%

Age of the figures

21 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.

NBB · 4 filings

Deviation from the deadline

2025

not confirmed

2024

28 d early

2023

40 d early

2022

45 d early

2021

44 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€1.00M▲ 20.4%

2023 · €834k

2021: €374k 2022: €648k 2023: €834k

2021 → 2024

Total assets

€1.61M▲ 3.2%

2023 · €1.56M

2021: €1.49M 2022: €1.85M 2023: €1.56M

2021 → 2024

Net result

€170k▼ 8.3%

2023 · €186k

2021: €324k 2022: €273k 2023: €186k

2021 → 2024

Working capital

€753k▲ 32.0%

2023 · €571k

2021: €115k 2022: €354k 2023: €571k

2021 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2021202220232024Trend

Equity€374k-€648k▲ 73.1%€834k▲ 28.7%€1.00M▲ 20.4%

Operating result€447k-€374k▼ 16.3%€256k▼ 31.5%€238k▼ 7.2%

Net result€324k-€273k▼ 15.7%€186k▼ 32.0%€170k▼ 8.3%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has fallen three years in a row; 2024 is 7% below 2023 and is the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.61M

16.2%

83.8%

Fixed assets €261k▼ 22.0%

Current assets €1.35M▲ 10.1%

Equity and liabilities €1.61M

62.4%

37.6%

Equity €1.00M▲ 20.4%

Debt €606k▼ 16.6%

The debt ratio falls from 46.6% to 37.6%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€390k▼

2023 · €401k

Cash flow

€322k▼

2023 · €331k

Solvency

62.4%▲

2023 · 53.4%

Current ratio

2.26▲

2023 · 1.87

Quick ratio

1.79▲

2023 · 1.53

Debt / equity

0.60▼

2023 · 0.87

ROE

17.0%▼

2023 · 22.3%

ROA

10.6%▼

2023 · 11.9%

Interest coverage

75.20▼

2023 · 79.57

Debt

€606k▼

2023 · €726k

Debt ≤ 1 year

€596k▼

2023 · €654k

Debt > 1 year

€10k▼

2023 · €72k

Income taxes

€62k▼

2023 · €65k

Staff costs

€2.16M▲

2023 · €1.96M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€1.56M€1.61M▲

Fixed assets21/28€335k€261k▼

Tangible fixed assets22/27€335k€261k▼

Land and buildings22€151k€78k▼

Plant, machinery and equipment23€29k€22k▼

Furniture and vehicles24€155k€162k▲

Current assets29/58€1.23M€1.35M▲

Stocks and contracts in progress3€223k€286k▲

Stocks30/36€153k€173k▲

Contracts in progress37€70k€113k▲

Amounts receivable within one year40/41€459k€441k▼

Trade receivables40€423k€361k▼

Other amounts receivable41€37k€80k▲

Cash at bank and in hand54/58€530k€610k▲

Deferred charges and accrued income490/1€12k€12k▲

Equity and liabilities

Total equity and liabilities10/49€1.56M€1.61M▲

Equity10/15€834k€1.00M▲

Contributions10/11€50k€50k=

Reserves13€784k€954k▲

Distributable reserves133€784k€954k▲

Amounts payable17/49€726k€606k▼

Amounts payable after more than one year17€72k€10k▼

Financial debts170/4€72k€10k▼

Amounts payable within one year42/48€654k€596k▼

Current portion of amounts payable after more than one year42€61k€62k▲

Trade debts44€261k€312k▲

Suppliers440/4€261k€312k▲

Taxes, remuneration and social security45€182k€122k▼

Taxes450/3€162k€7k▼

Remuneration and social security454/9€20k€115k▲

Other amounts payable47/48€150k€100k▼

Income statement Code20232024

Non-recurring operating income76A€8k€579▼

Remuneration, social security and pensions62€1.96M€2.16M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€145k€152k▲

Other operating charges640/8€17k€22k▲

Non-recurring operating charges66A€2k€270▼

Gross operating margin9900€2.38M€2.57M▲

Operating profit (loss)9901€256k€238k▼

Financial charges65/66B€5k€5k▲

Recurring financial charges65€5k€5k▲

Profit (loss) for the period before taxes9903€251k€233k▼

Income taxes67/77€65k€62k▼

Profit (loss) for the period9904€186k€170k▼

Profit (loss) for the period to be appropriated9905€186k€170k▼

Appropriation of the result

Profit (loss) to be appropriated9906€186k€170k▼

Transfer to equity691/2€186k€170k▼

To other reserves6921€186k€170k▼

Social balance

Average headcount (FTE)908734.435.7▲

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 7Financial 3Filings 4

2025

03-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Weakest financial yearnet €170k ▼8.3%

Net result drops to €170k, the lowest in the series.

31-12

Financial Equity above €1MEq €1.00M ▲20.4%

4 profitable years in a row build equity to €1.00M.

21-06

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

16-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Equity above €500kEq €648k ▲73.1%

2 profitable years in a row build equity to €648k.

17-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

2 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, Kapellen · 2 establishment units since 2020

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Starrenhoflaan 7A2950 Kapellen

Ground area

1.3 ha

Building footprint

4,228 m²

Volume, LiDAR

28,705 m³

2 parcels, Flanders · tallest building 13.9 m, ±2 floors. Linked by address, not a title deed.

2 establishment units

de Waal

Starrenhoflaan 7A, 2950 KapellenSpecialised construction activities

since 20202.310.542.077

Leo Baekelandstraat 7, 2950 Kapellen

Specialised construction activities

since 20212.310.714.402

2 parcels

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11362H0586/00E000	Flanders	1.2 ha	1 · 3,861 m²	8.3 m · 2 fl.
11023C0221/00C000 ProtectedCultural-historical landscape · Townscape or village viewHet Rood en omgevingSource ↗	Flanders	871 m²	1 · 367 m²	13.9 m · 2 fl.