Summary
DW Co is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €160,116 and a net result of €71,348. Equity remains stable across the filed financial years (±1.3% per year). Its solvency ranks better than 59% of 9,714 sector peers (NACE 64, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€160,116▲ 8.5%
2024 · €147,592
Net result
€71,348▼ 41.2%
2024 · €121,389
Total assets
€261,232▲ 52.2%
2024 · €171,596
Solvency
61.3%▼ 24.7pp
2024 · 86.0%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 34% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€104,924
2025
Net result€71,348
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€261,232
2025
Equity€160,116
2025
Debt€63,947
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€155,959
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)27.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency61.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio4.95
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€123,138-€117,117▼ 4.9%€86,937▼ 25.8%€50,082▼ 42.4%€89,136▲ 78.0%€159,101▲ 78.5%€104,924▼ 34.1%
Net result€93,000-€89,801above the sector's middle half▼ 3.4%€66,402within the sector's middle half▼ 26.1%€38,824within the sector's middle half▼ 41.5%€69,791within the sector's middle half▲ 79.8%€121,389above the sector's middle half▲ 73.9%€71,348within the sector's middle half▼ 41.2%
Equity€99,200-€189,001within the sector's middle half▲ 90.5%€227,803within the sector's middle half▲ 20.5%€166,627within the sector's middle half▼ 26.9%€136,418within the sector's middle half▼ 18.1%€147,592within the sector's middle half▲ 8.2%€160,116within the sector's middle half▲ 8.5%
Total assets€147,821-€228,580within the sector's middle half▲ 54.6%€293,206within the sector's middle half▲ 28.3%€190,432within the sector's middle half▼ 35.1%€156,261within the sector's middle half▼ 17.9%€171,596within the sector's middle half▲ 9.8%€261,232within the sector's middle half▲ 52.2%
Debt€48,621-€39,578▼ 18.6%€65,403▲ 65.2%€23,805▼ 63.6%€19,843▼ 16.6%€24,004▲ 21.0%€63,947▲ 166%
Working capital€83,871-€174,955above the sector's middle half▲ 109%€214,562above the sector's middle half▲ 22.6%€155,626above the sector's middle half▼ 27.5%€132,994within the sector's middle half▼ 14.5%€144,860within the sector's middle half▲ 8.9%€155,959above the sector's middle half▲ 7.7%
Solvency67.1%-82.7%above the sector's middle half▲ 15.6pp77.7%above the sector's middle half▼ 5.0pp87.5%above the sector's middle half▲ 9.8pp87.3%above the sector's middle half▼ 0.2pp86.0%above the sector's middle half▼ 1.3pp61.3%within the sector's middle half▼ 24.7pp
Current ratio5.08-9.33above the sector's middle half▲ 4.254.80above the sector's middle half▼ 4.537.54above the sector's middle half▲ 2.747.70above the sector's middle half▲ 0.167.03above the sector's middle half▼ 0.674.95above the sector's middle half▼ 2.08
Return on assets (ROA)62.9%-39.3%above the sector's middle half▼ 23.6pp22.6%within the sector's middle half▼ 16.6pp20.4%within the sector's middle half▼ 2.3pp44.7%above the sector's middle half▲ 24.3pp70.7%above the sector's middle half▲ 26.1pp27.3%above the sector's middle half▼ 43.4pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €261,232
Fixed assets
€65,811 ▲ 2,309%
Current assets
€195,421 ▲ 15.7%
Equity and liabilities €261,232
Equity
€160,116 ▲ 8.5%
Provisions
€37,169
Debt
€63,947 ▲ 166%
Debt's share of the balance-sheet total rises from 14.0% to 24.5%. Equity and debt are higher.
Key figures and ratios
ROE
44.6%▼
2024 · 82.2%
Debt ≤ 1 year
€39,462▲
2024 · €24,004
Debt > 1 year
€24,484
Income taxes
€33,413▼
2024 · €37,765
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €3,000 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,729 | €11,553 | €11,551 | €11,432 | €10,818 | €1,329 | €10,136 | ▲ 663% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | €37,169 | - |
| Other operating charges640/8 | - | - | €1,314 | €1,212 | €1,491 | €1,539 | €1,171 | ▼ 23.9% |
| Gross operating margin9900 | €138,796 | €129,450 | €99,803 | €62,725 | €101,444 | €161,969 | €153,400 | ▼ 5.3% |
| Operating profit (loss)9901 | €123,138 | €117,117 | €86,937 | €50,082 | €89,136 | €159,101 | €104,924 | ▼ 34.1% |
| Financial income75/76B | - | - | €89 | €3,353 | €2,418 | €219 | €612 | ▲ 180% |
| Recurring financial income75 | €0 | €20 | €89 | €3,353 | €2,418 | €219 | €612 | ▲ 180% |
| Financial charges65/66B | - | - | €478 | €386 | €273 | €167 | €775 | ▲ 365% |
| Recurring financial charges65 | €670 | €611 | €478 | €386 | €273 | €167 | €775 | ▲ 365% |
| Profit (loss) for the period before taxes9903 | €122,467 | €116,527 | €86,549 | €53,050 | €91,281 | €159,153 | €104,761 | ▼ 34.2% |
| Income taxes67/77 | €29,467 | €26,725 | €20,147 | €14,226 | €21,489 | €37,765 | €33,413 | ▼ 11.5% |
| Profit (loss) for the period9904 | €93,000 | €89,801 | €66,402 | €38,824 | €69,791 | €121,389 | €71,348 | ▼ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €93,000 | €89,801 | €66,402 | €38,824 | €69,791 | €121,389 | €71,348 | ▼ 41.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €147,821 | €228,580 | €293,206 | €190,432 | €156,261 | €171,596 | €261,232 | ▲ 52.2% |
| Fixed assets21/28 | €43,411 | €32,619 | €22,181 | €11,001 | €3,425 | €2,732 | €65,811 | ▲ 2,309% |
| Tangible fixed assets22/27 | €43,411 | €32,619 | €22,181 | €11,001 | €3,425 | €2,732 | €65,811 | ▲ 2,309% |
| Plant, machinery and equipment23 | - | - | €1,081 | €957 | €502 | €653 | €3,862 | ▲ 491% |
| Furniture and vehicles24 | - | - | €21,100 | €10,044 | €2,923 | €2,078 | €61,948 | ▲ 2,881% |
| Current assets29/58 | €104,411 | €195,960 | €271,025 | €179,431 | €152,836 | €168,865 | €195,421 | ▲ 15.7% |
| Amounts receivable after more than one year29 | - | - | €61,844 | €43,533 | €30,795 | €0 | - | - |
| Trade receivables290 | - | - | €61,844 | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €43,533 | €30,795 | €0 | - | - |
| Amounts receivable within one year40/41 | €35,464 | €8,507 | €34,861 | €41,569 | €38,663 | €53,758 | €41,110 | ▼ 23.5% |
| Trade receivables40 | - | - | €19,011 | €14,542 | €17,566 | €53,438 | €40,802 | ▼ 23.6% |
| Other amounts receivable41 | - | - | €15,850 | €27,027 | €21,097 | €320 | €308 | ▼ 3.9% |
| Current investments50/53 | - | - | - | - | - | €11,000 | €11,000 | = |
| Cash at bank and in hand54/58 | €66,498 | €161,018 | €171,237 | €84,683 | €76,706 | €100,791 | €140,425 | ▲ 39.3% |
| Deferred charges and accrued income490/1 | - | - | €3,083 | €9,646 | €6,671 | €3,316 | €2,887 | ▼ 12.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €147,821 | €228,580 | €293,206 | €190,432 | €156,261 | €171,596 | €261,232 | ▲ 52.2% |
| Equity10/15 | €99,200 | €189,001 | €227,803 | €166,627 | €136,418 | €147,592 | €160,116 | ▲ 8.5% |
| Contributions10/11 | €6,200 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | - | - | - | €148,027 | €117,818 | €128,992 | €141,516 | ▲ 9.7% |
| Distributable reserves133 | - | - | - | €148,027 | €117,818 | €128,992 | €141,516 | ▲ 9.7% |
| Profit (loss) carried forward14 | €93,000 | €182,801 | €209,203 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €37,169 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | €37,169 | - |
| Other liabilities and charges164/5 | - | - | - | - | - | - | €37,169 | - |
| Amounts payable17/49 | €48,621 | €39,578 | €65,403 | €23,805 | €19,843 | €24,004 | €63,947 | ▲ 166% |
| Amounts payable after more than one year17 | €28,082 | €18,573 | €8,940 | €0 | - | - | €24,484 | - |
| Financial debts170/4 | - | - | €8,940 | €0 | - | - | €24,484 | - |
| Amounts payable within one year42/48 | €20,539 | €21,005 | €56,462 | €23,805 | €19,843 | €24,004 | €39,462 | ▲ 64.4% |
| Current portion of amounts payable after more than one year42 | - | - | €9,633 | €8,940 | €0 | - | €6,700 | - |
| Financial debts43 | - | - | €5 | €61 | €583 | €128 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €5 | €0 | - | - | - | - |
| Other loans439 | - | - | - | €61 | €583 | €128 | €0 | ▼ 100% |
| Trade debts44 | €303 | €11,231 | €2,973 | €1,149 | €4,253 | €986 | €11,567 | ▲ 1,073% |
| Suppliers440/4 | - | - | €2,973 | €1,149 | €4,253 | €986 | €11,567 | ▲ 1,073% |
| Taxes, remuneration and social security45 | - | - | €3,852 | €13,655 | €15,006 | €22,891 | €21,195 | ▼ 7.4% |
| Taxes450/3 | - | - | €3,852 | €13,655 | €15,006 | €22,891 | €21,195 | ▼ 7.4% |
| Other amounts payable47/48 | - | - | €40,000 | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €93,000 | €89,801 | €66,402 | €38,824 | €69,791 | €121,389 | €71,348 | ▼ 41.2% |
| + Depreciation and write-downs630 | €13,729 | €11,553 | €11,551 | €11,432 | €10,818 | €1,329 | €10,136 | ▲ 663% |
| Operating cash flow (approximation) | €106,729 | €101,354 | €77,953 | €50,255 | €80,609 | €122,718 | €81,484 | ▼ 33.6% |
| Investment in fixed assets (approximation) | - | -€762 | -€1,113 | -€252 | -€3,241 | -€636 | -€73,215 | ▼ 11,405% |
| Change in cash | - | €94,520 | €10,220 | -€86,554 | -€7,977 | €24,085 | €39,633 | ▲ 64.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 03-07-2026 | 2026-00246180 |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00292131 |
| 31-12-2023 | micro format | 26-06-2024 | 2024-00164353 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00404967 |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20132562 |
| 31-12-2020 | micro format | 13-07-2021 | 2021-35100053 |
| 31-12-2019 | micro format | 24-08-2020 | 2020-43700589 |
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Of the 24,458 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,963. 13,466 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.