DW Reusables
ActiveThe annual accounts of DW Reusables for fiscal year 2025 show a net loss of 71% of total assets and of 76% of the equity at the start of that year. The 2025 annual accounts show equity of €12.26M and a net result of €-39.25M. Equity is growing by ~25.4% per year across the filed fiscal years. Its solvency ranks better than 19% of 186 sector peers (fiscal year 2025). The company has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-69
Solvency47▼-33
Growth35▼-23
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.24 against 2.85 in 2024; short-term debt: 21.8% and cash: 8.7% of total assets), and 78% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 22
Relative position
BE, all sectors
reference
Sector 22
higher
← 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 2025Solvency, return and age of the figures
Solvency
22%
Return on assets
-70.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 186 sector peers (2025).
NBB · sector comparisonPosition among 186 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
44 d early
2023
61 d early
2022
55 d early
2021
32 d early
2020
35 d early
2019
51 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€24.69M▼ 40.5%
2024 · €41.51M
2019: €54.08M
2020: €84.62M
2021: €58.70M
2022: €44.77M
2023: €49.98M
2024: €41.51M
2019 → 2025
EBIT margin
-19.5%▼ 33.3pp
2024 · 13.8%
2019: 4.8%
2020: 5.7%
2021: 4.0%
2022: 9.0%
2023: 12.8%
2024: 13.8%
2019 → 2025
Net result
€-39.25M
2024 · €3.85M
2019: €1.86M
2020: €4.46M
2021: €970k
2022: €1.31M
2023: €4.63M
2024: €3.85M
2019 → 2025
Working capital
€2.89M▼ 81.7%
2024 · €15.85M
2019: €491k
2020: €15.18M
2021: €14.70M
2022: €13.30M
2023: €11.14M
2024: €15.85M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€58.70M-€44.77M▼ 23.7%€49.98M▲ 11.7%€41.51M▼ 16.9%€24.69M▼ 40.5%
Equity€10.39M-€11.70M▲ 12.7%€16.34M▲ 39.6%€51.46M▲ 215%€12.26M▼ 76.2%
Operating result€2.32M-€4.01M▲ 72.8%€6.38M▲ 59.2%€5.73M▼ 10.2%€-4.81M
Net result€970k-€1.31M▲ 35.6%€4.63M▲ 252%€3.85M▼ 16.9%€-39.25M
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4.81M after €5.73M in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €52.80M
Fixed assets
€37.78M▼ 42.2%
Current assets
€15.02M▼ 38.5%
Equity and liabilities €55.67M
Equity
€12.26M▼ 76.2%
Provisions
€5k▲ 1,074%
Debt
€43.41M▲ 3.5%
The debt ratio rises from 44.9% to 78.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2.42M▼
2024 · €7.60M
Cash flow
€-36.86M▼
2024 · €5.72M
Solvency
22.0%▼
2024 · 55.1%
Current ratio
1.24▼
2024 · 2.85
Quick ratio
0.93▼
2024 · 2.31
Debt / equity
3.54▲
2024 · 0.82
ROE
-320.2%▼
2024 · 7.5%
ROA
-70.5%▼
2024 · 4.1%
Interest coverage
-1.05▼
2024 · 3.94
Debt
€43.41M▲
2024 · €41.94M
Debt ≤ 1 year
€12.13M▲
2024 · €8.58M
Debt > 1 year
€30.98M▼
2024 · €33.09M
Income taxes
€5k▼
2024 · €782k
Staff costs
€7.31M▼
2024 · €8.12M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€93.40M€55.67M▼
Formation expenses20€3.64M€2.87M▼
Fixed assets21/28€65.34M€37.78M▼
Intangible fixed assets21€1.15M€1.03M▼
Tangible fixed assets22/27€6.67M€5.71M▼
Land and buildings22€795k€737k▼
Plant, machinery and equipment23€5.15M€4.88M▼
Furniture and vehicles24€123k€89k▼
Assets under construction and advance payments27€593k€9k▼
Financial fixed assets28€57.52M€31.04M▼
Affiliated companies280/1€57.51M€31.03M▼
Participating interests280€43.46M€10.56M▼
Amounts receivable281€14.05M€20.47M▲
Other financial fixed assets284/8€13k€13k=
Amounts receivable and cash guarantees285/8€13k€13k=
Current assets29/58€24.43M€15.02M▼
Amounts receivable after more than one year29€1.78M-
Other amounts receivable291€1.78M-
Stocks and contracts in progress3€4.61M€3.80M▼
Stocks30/36€4.61M€3.80M▼
Raw materials and consumables30/31€2.75M€2.87M▲
Work in progress32€576k€397k▼
Finished goods33€1.29M€534k▼
Amounts receivable within one year40/41€14.68M€5.35M▼
Trade receivables40€6.92M€5.25M▼
Other amounts receivable41€7.76M€100k▼
Cash at bank and in hand54/58€932k€4.85M▲
Deferred charges and accrued income490/1€2.42M€1.02M▼
Equity and liabilities
Total equity and liabilities10/49€93.40M€55.67M▼
Equity10/15€51.46M€12.26M▼
Contributions10/11€34.16M€34.16M=
Capital10€33.47M€33.47M=
Issued capital100€33.47M€33.47M=
Outside capital11€684k€684k=
Share premium1100/10€684k€684k=
Revaluation surpluses12-€51k
Reserves13€299k€299k=
Non-distributable reserves130/1€299k€299k=
Legal reserve130€299k€299k=
Profit (loss) carried forward14€17.00M€-22.25M▼
Provisions and deferred taxes16€426€5k▲
Provisions for liabilities and charges160/5€426€5k▲
Pensions and similar obligations160€426-
Other liabilities and charges164/5-€5k
Amounts payable17/49€41.94M€43.41M▲
Amounts payable after more than one year17€33.09M€30.98M▼
Financial debts170/4€33.09M€30.98M▼
Credit institutions173€33.09M€30.98M▼
Amounts payable within one year42/48€8.58M€12.13M▲
Current portion of amounts payable after more than one year42€2.61M€5.11M▲
Financial debts43-€1.80M
Credit institutions430/8-€1.80M
Trade debts44€3.71M€3.79M▲
Suppliers440/4€3.71M€3.79M▲
Taxes, remuneration and social security45€2.26M€1.43M▼
Taxes450/3€944k€734k▼
Remuneration and social security454/9€1.31M€697k▼
Accrued charges and deferred income492/3€278k€301k▲
Income statement
Code20242025
Operating income70/76A€43.48M€25.04M▼
Turnover70€41.51M€24.69M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-727k€-881k▼
Other operating income74€2.67M€954k▼
Non-recurring operating income76A€18k€276k▲
Operating charges60/66A€37.75M€29.85M▼
Goods for resale, raw materials and consumables60€14.55M€8.79M▼
Purchases600/8€14.45M€9.00M▼
Change in stocks: decrease (increase)609€105k€-206k▼
Services and other goods61€12.33M€9.50M▼
Remuneration, social security and pensions62€8.12M€7.31M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.87M€2.39M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€14k€136k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-4k€-426▲
Other operating charges640/8€853k€1.72M▲
Non-recurring operating charges66A€16k€5k▼
Operating profit (loss)9901€5.73M€-4.81M▼
Financial income75/76B€904k€799k▼
Recurring financial income75€904k€799k▼
Income from financial fixed assets750-€791k
Income from current assets751€897k-
Other financial income752/9€8k€8k▲
Financial charges65/66B€2.00M€35.24M▲
Recurring financial charges65€2.00M€2.34M▲
Debt charges650€1.93M€2.30M▲
Other financial charges652/9€74k€37k▼
Non-recurring financial charges66B-€32.90M
Profit (loss) for the period before taxes9903€4.63M€-39.25M▼
Income taxes67/77€782k€5k▼
Taxes670/3€1.56M€147k▼
Tax adjustments and reversals of tax provisions77€779k€142k▼
Profit (loss) for the period9904€3.85M€-39.25M▼
Profit (loss) for the period to be appropriated9905€3.85M€-39.25M▼
Appropriation of the result
Profit (loss) to be appropriated9906€17.00M€-22.25M▼
Profit (loss) brought forward from the previous period14P€13.15M€17.00M▲
Social balance
Average headcount (FTE)9087115.5100.4▼
The notes to these accounts (83 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-08
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor appointment · Permanent representative3 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor appointment · Permanent representative3 facts ▸
- General meeting, 25/06/2026
- Auditor appointment, Callens, Vandelanotte & Theunissen BV (commissaris)
- Permanent representative, Guy Meerbergen
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-39.25M ▼1119%
Net result drops to €-39.25M, the lowest in the series.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €50MEq €51.46M ▲215%
6 profitable years in a row build equity to €51.46M.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2019net €4.63M ▲252%
Operating result €6.38M, net result €4.63M, both a record.
06-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €10MEq €10.39M ▲10.3%
3 profitable years in a row build equity to €10.39M.
26-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €5MEq €9.42M ▲89.8%
2 profitable years in a row build equity to €9.42M.
2019
10-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
18-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
03-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
15-01-2025
LD20 BV: Resigned as Managing director
15-01-2025
LD20 BV: Resigned as Director
30-06-2016
Bridget Rothwell: Resigned as Director
12-02-2015
Johannes Michael Peter van der Looij: Resigned as Director
31-12-2013
Jean-Bernard Vassogne: Resigned as Director
31-12-2013
Jean-Bernard Vassogne: Resigned as Managing director
Location & real-estate footprint
Registered office, Bilzen-Hoeselt · 1 establishment unit since 1988
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.
Nijverheidsstraat 263740 Bilzen-HoeseltGround area
2.2 ha
Building footprint
1.1 ha
Volume, LiDAR
75,472 m³
Parcel 73005A0238/00H002, Flanders · tallest building 14.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
D.W. PACKING
since 19882.040.916.622
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73005A0238/00H002 | Flanders | 2.2 ha | 1 · 1.1 ha | 14.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Statutory auditor
2 auditors| Callens, Vandelanotte & Theunissen BVCurrent Statutory auditor · represented by Guy Meerbergen | 14-08-2026 → present |
Show 1 earlier auditors
| Deloitte Bedrijfsrevisoren BV o.v.v.e. CVBA Statutory auditor · represented by Jurgen Kesselaers | - → 16-11-2020 |
Public money · subsidies and aid
Flemish government
2023 to 2025 · 5 entries · 497,886 EUR awarded · 200,382 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 0 EUR | 0 EUR |
| 2024 | 2 | 2,045 EUR | 200,382 EUR |
| 2023 | 1 | 495,841 EUR | 0 EUR |
Schemes
Programma Circulaire Economie
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
5493008J86B9FXHG2S40
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Of 602 companies in sector 22260 we hold annual accounts for 282. 118 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-10-1988
Fiscal year end31-12
Activities, NACEBEL
22220Manufacture of rubber and plastic products
22260Manufacture of rubber and plastic products
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.