DWL Technics
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 21 days after the deadline Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00415140.
Annual accounts 2025 filed on 21-08-2026 at the NBB all 13 filings
Turnover
≈ €120,000
Estimated: probably between €73,000 and €220,000
Total assets
€93,515▲ 5.1%
2024 · €88,992
Net result
€3,200
2024 · -€5,794
Working capital
€32,829▲ 257%
2024 · €9,189
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€14,102
▲ 30×
2025
20182025
Net result
€3,200
2025
middle half of the sector
20182025
Equity
€40,061
▲ 8.7%
2025
middle half of the sector
20182025
Total assets
€93,515
▲ 5.1%
2025
middle half of the sector
20182025
Debt
€53,454
▲ 2.5%
2025
20182025
Working capital
€32,829
▲ 257%
2025
middle half of the sector
20182025
Solvency
42.8%
▲ 1.4pp
2025
middle half of the sector
20182025
Current ratio
1.64
▲ 0.44
2025
middle half of the sector
20182025
Return on assets (ROA)
3.4%
▲ 9.9pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€2,572-€10,909▲ 324%€10,752▼ 1.4%-€12,224€21,428€1,119▼ 94.8%€473▼ 57.7%€14,102▲ 30×
Net result€1,205-€8,945▲ 642%€7,778within the sector's middle half▼ 13.0%-€13,860below the sector's middle half€15,054within the sector's middle half-€3,095below the sector's middle half-€5,794below the sector's middle half▼ 87.2%€3,200within the sector's middle half
Equity€16,832-€25,777▲ 53.1%€33,555within the sector's middle half▲ 30.2%€19,695below the sector's middle half▼ 41.3%€34,749within the sector's middle half▲ 76.4%€42,655within the sector's middle half▲ 22.7%€36,861within the sector's middle half▼ 13.6%€40,061within the sector's middle half▲ 8.7%
Total assets€92,918-€97,907▲ 5.4%€89,614within the sector's middle half▼ 8.5%€153,564within the sector's middle half▲ 71.4%€149,919within the sector's middle half▼ 2.4%€147,603within the sector's middle half▼ 1.5%€88,992within the sector's middle half▼ 39.7%€93,515within the sector's middle half▲ 5.1%
Debt€76,086-€72,130▼ 5.2%€56,060▼ 22.3%€133,869▲ 139%€115,170▼ 14.0%€104,948▼ 8.9%€52,131▼ 50.3%€53,454▲ 2.5%
Working capital€8,141-€6,540▼ 19.7%€15,428within the sector's middle half▲ 136%-€8,117below the sector's middle half€9,684within the sector's middle half€12,740within the sector's middle half▲ 31.6%€9,189within the sector's middle half▼ 27.9%€32,829within the sector's middle half▲ 257%
Solvency18.1%-26.3%▲ 8.2pp37.4%within the sector's middle half▲ 11.1pp12.8%below the sector's middle half▼ 24.6pp23.2%within the sector's middle half▲ 10.4pp28.9%within the sector's middle half▲ 5.7pp41.4%within the sector's middle half▲ 12.5pp42.8%within the sector's middle half▲ 1.4pp
Current ratio1.13-1.09▼ 0.031.28within the sector's middle half▲ 0.180.91below the sector's middle half▼ 0.361.11within the sector's middle half▲ 0.201.16within the sector's middle half▲ 0.041.20within the sector's middle half▲ 0.041.64within the sector's middle half▲ 0.44
Return on assets (ROA)1.3%-9.1%▲ 7.8pp8.7%within the sector's middle half▼ 0.5pp-9.0%below the sector's middle half▼ 17.7pp10.0%within the sector's middle half▲ 19.1pp-2.1%below the sector's middle half▼ 12.1pp-6.5%below the sector's middle half▼ 4.4pp3.4%within the sector's middle half▲ 9.9pp
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is nearly 30 times that of 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €93,515
Fixed assets
€9,276 ▼ 72.7%
Current assets
€84,239 ▲ 53.0%
Equity and liabilities €93,515
Equity
€40,061 ▲ 8.7%
Debt
€53,454 ▲ 2.5%
Debt's share of the balance-sheet total falls from 58.6% to 57.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€28,160▲
2024 · €21,982
Cash flow
€17,258▲
2024 · €15,715
Quick ratio
1.27▲
2024 · 0.64
Debt to equity
1.33▼
2024 · 1.41
ROE
8.0%▲
2024 · -15.7%
Interest coverage
3.22▼
2024 · 4.40
Debt ≤ 1 year
€51,410▲
2024 · €45,857
Income taxes
€2,159▲
2024 · €1,271
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Carrying value of the other pledged assets | - | - | - | €31,033 | €7,363 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €78,494 | €1,377 | €16,144 | €1,446 | - |
| Depreciation and write-downs of the year | €13,763 | €16,000 | €17,950 | €21,509 | €14,058 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €9,091 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,083 | €15,873 | €10,955 | €13,763 | €16,000 | €17,950 | €21,509 | €14,058 | ▼ 34.6% |
| Other operating charges640/8 | - | - | - | €6,362 | €9,255 | €5,561 | €1,771 | €1,599 | ▼ 9.7% |
| Non-recurring operating charges66A | - | - | - | €3,626 | - | - | €50 | €380 | ▲ 660% |
| Gross operating margin9900 | €19,336 | €30,200 | €28,242 | €11,527 | €46,682 | €24,630 | €23,803 | €30,139 | ▲ 26.6% |
| Operating profit (loss)9901 | €2,572 | €10,909 | €10,752 | -€12,224 | €21,428 | €1,119 | €473 | €14,102 | ▲ 30× |
| Financial income75/76B | - | - | - | €27 | €4 | €4 | €2 | €1 | ▼ 50.0% |
| Recurring financial income75 | €1 | €9 | €144 | €27 | €4 | €4 | €2 | €1 | ▼ 50.0% |
| Financial charges65/66B | - | - | - | €1,176 | €1,627 | €1,732 | €4,998 | €8,744 | ▲ 74.9% |
| Recurring financial charges65 | €868 | €751 | €597 | €1,176 | €1,627 | €1,732 | €4,998 | €8,744 | ▲ 74.9% |
| Profit (loss) for the period before taxes9903 | €1,705 | €10,167 | €10,298 | -€13,373 | €19,805 | -€609 | -€4,523 | €5,359 | - |
| Income taxes67/77 | €500 | €1,222 | €2,520 | €487 | €4,751 | €2,486 | €1,271 | €2,159 | ▲ 69.9% |
| Profit (loss) for the period9904 | €1,205 | €8,945 | €7,778 | -€13,860 | €15,054 | -€3,095 | -€5,794 | €3,200 | - |
| Profit (loss) for the period to be appropriated9905 | €1,205 | €8,945 | €7,778 | -€13,860 | €15,054 | -€3,095 | -€5,794 | €3,200 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €92,918 | €97,907 | €89,614 | €153,564 | €149,919 | €147,603 | €88,992 | €93,515 | ▲ 5.1% |
| Fixed assets21/28 | €21,009 | €21,022 | €18,127 | €70,437 | €55,815 | €54,009 | €33,946 | €9,276 | ▼ 72.7% |
| Tangible fixed assets22/27 | €20,959 | €20,972 | €18,077 | €70,437 | €55,815 | €54,009 | €33,946 | €9,276 | ▼ 72.7% |
| Plant, machinery and equipment23 | - | - | - | €1,088 | €1,092 | €1,599 | €2,181 | €1,278 | ▼ 41.4% |
| Furniture and vehicles24 | - | - | - | €69,349 | €54,723 | €52,410 | €31,765 | €7,998 | ▼ 74.8% |
| Financial fixed assets28 | €50 | €50 | €50 | - | - | - | - | - | - |
| Current assets29/58 | €71,908 | €76,885 | €71,487 | €83,127 | €94,104 | €93,594 | €55,046 | €84,239 | ▲ 53.0% |
| Amounts receivable after more than one year29 | - | - | - | €50 | €50 | €50 | €50 | €50 | = |
| Trade receivables290 | - | - | - | - | - | - | €50 | €50 | = |
| Other amounts receivable291 | - | - | - | €50 | €50 | €50 | - | - | - |
| Stocks and contracts in progress3 | €6,194 | €5,853 | €6,182 | €4,767 | €4,460 | €4,200 | €25,838 | €18,715 | ▼ 27.6% |
| Stocks30/36 | - | - | - | €4,767 | €4,460 | €4,200 | €9,269 | €9,699 | ▲ 4.6% |
| Contracts in progress37 | - | - | - | - | - | - | €16,569 | €9,016 | ▼ 45.6% |
| Amounts receivable within one year40/41 | €44,271 | €64,399 | €50,719 | €65,654 | €83,751 | €78,551 | €27,128 | €60,114 | ▲ 122% |
| Trade receivables40 | - | - | - | €62,928 | €83,751 | €75,360 | €27,128 | €51,332 | ▲ 89.2% |
| Other amounts receivable41 | - | - | - | €2,726 | - | €3,192 | - | €8,782 | - |
| Cash at bank and in hand54/58 | €19,545 | €5,907 | €14,033 | €12,283 | €5,844 | €10,259 | €1,479 | €5,022 | ▲ 240% |
| Deferred charges and accrued income490/1 | - | - | - | €373 | - | €533 | €551 | €338 | ▼ 38.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €92,918 | €97,907 | €89,614 | €153,564 | €149,919 | €147,603 | €88,992 | €93,515 | ▲ 5.1% |
| Equity10/15 | €16,832 | €25,777 | €33,555 | €19,695 | €34,749 | €42,655 | €36,861 | €40,061 | ▲ 8.7% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €17,200 | €17,200 | €17,200 | = |
| Reserves13 | €1,827 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €22,861 | ▲ 12× |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €21,001 | - |
| Profit (loss) carried forward14 | €8,805 | €17,717 | €25,495 | €11,635 | €26,689 | €23,595 | €17,801 | - | - |
| Amounts payable17/49 | €76,086 | €72,130 | €56,060 | €133,869 | €115,170 | €104,948 | €52,131 | €53,454 | ▲ 2.5% |
| Amounts payable after more than one year17 | €12,319 | €1,786 | - | €42,626 | €30,750 | €24,027 | €6,274 | - | - |
| Financial debts170/4 | - | - | - | €42,626 | €30,750 | €24,027 | €6,274 | - | - |
| Amounts payable within one year42/48 | €63,767 | €70,345 | €56,060 | €91,244 | €84,420 | €80,853 | €45,857 | €51,410 | ▲ 12.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,641 | €11,876 | €19,853 | €19,433 | €6,274 | ▼ 67.7% |
| Trade debts44 | €51,841 | €53,212 | €33,948 | €59,642 | €36,510 | €31,125 | €6,424 | €30,523 | ▲ 375% |
| Suppliers440/4 | - | - | - | €59,642 | €36,510 | €31,125 | €6,424 | €30,523 | ▲ 375% |
| Advances received on contracts in progress46 | - | - | - | €2,158 | €2,158 | €2,158 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €11,905 | €19,808 | €19,503 | €15,047 | €8,210 | ▼ 45.4% |
| Taxes450/3 | - | - | - | €11,905 | €19,808 | €19,503 | €15,047 | €8,210 | ▼ 45.4% |
| Other amounts payable47/48 | - | - | - | €5,898 | €14,068 | €8,215 | €4,953 | €6,403 | ▲ 29.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €68 | - | €2,044 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,205 | €8,945 | €7,778 | -€13,860 | €15,054 | -€3,095 | -€5,794 | €3,200 | - |
| + Depreciation and write-downs630 | €13,083 | €15,873 | €10,955 | €13,763 | €16,000 | €17,950 | €21,509 | €14,058 | ▼ 34.6% |
| Operating cash flow (approximation) | €14,289 | €24,817 | €18,733 | -€97 | €31,054 | €14,855 | €15,715 | €17,258 | ▲ 9.8% |
| Investment in fixed assets (approximation) | - | -€15,886 | -€8,060 | -€66,073 | -€1,377 | -€16,144 | -€1,446 | €10,612 | - |
| Change in cash | - | -€13,638 | €8,125 | -€1,749 | -€6,440 | €4,415 | -€8,780 | €3,543 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 10,904 companies had the same profile as DWL Technics has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of DWL Technics itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 10,904 companies, not a prediction for DWL Technics. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 21-08-2026 | 2026-00415140 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00535836 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00221188 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00238434 | |
| 31-12-2021 | micro format | 12-07-2022 | 2022-20181909 | |
| 31-12-2020 | micro format | 28-07-2021 | 2021-44900538 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-50100539 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-52900559 | |
| 31-12-2017 | micro format | 13-09-2018 | 2018-62900182 | |
| 31-12-2016 | micro format | 22-09-2017 | 2017-62100543 |