EIW
ActiveSummary
EIW has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €765,985 and a net result of €104,327. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 89% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+3
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity ample (current ratio 7.62 against 8.31 in 2024; short-term debt: 8.1% and cash: 33.6% of total assets), and 14.9% 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
raises risk · 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
85.1%
Return on assets
11.6%
Age of the figures
9 mo
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
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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
55 d early
2023
57 d early
2022
62 d early
2021
62 d early
2020
57 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 55 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 30 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€765,985▼ 2.6%
2024 · €786,530
Total assets
€899,878▼ 7.2%
2024 · €969,411
Net result
€104,327▲ 18.8%
2024 · €87,840
Working capital
€483,039▼ 16.0%
2024 · €575,316
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20212022202320242025
Operating result€177,062▲ 16.9%€273,650▲ 54.6%€146,918▼ 46.3%€115,962▼ 21.1%€144,280▲ 24.4%
Net result€125,349above the sector's middle half▲ 15.4%€192,324above the sector's middle half▲ 53.4%€107,242within the sector's middle half▼ 44.2%€87,840above the sector's middle half▼ 18.1%€104,327above the sector's middle half▲ 18.8%
Equity€604,696above the sector's middle half▲ 26.1%€790,845above the sector's middle half▲ 30.8%€822,758above the sector's middle half▲ 4.0%€786,530above the sector's middle half▼ 4.4%€765,985above the sector's middle half▼ 2.6%
Total assets€872,251above the sector's middle half▲ 12.9%€1.0mabove the sector's middle half▲ 19.3%€1.1mwithin the sector's middle half▲ 1.0%€969,411above the sector's middle half▼ 7.7%€899,878above the sector's middle half▼ 7.2%
Debt€267,555▼ 8.7%€249,372▼ 6.8%€228,090▼ 8.5%€182,880▼ 19.8%€133,892▼ 26.8%
Working capital€508,484above the sector's middle half▲ 40.4%€645,830above the sector's middle half▲ 27.0%€616,535above the sector's middle half▼ 4.5%€575,316above the sector's middle half▼ 6.7%€483,039above the sector's middle half▼ 16.0%
Solvency69.3%above the sector's middle half▲ 7.3pp76.0%above the sector's middle half▲ 6.7pp78.3%above the sector's middle half▲ 2.3pp81.1%above the sector's middle half▲ 2.8pp85.1%above the sector's middle half▲ 4.0pp
Current ratio7.44above the sector's middle half▲ 3.076.56above the sector's middle half▼ 0.888.52above the sector's middle half▲ 1.968.31above the sector's middle half▼ 0.227.62above the sector's middle half▼ 0.68
Return on assets (ROA)14.4%within the sector's middle half▲ 0.3pp18.5%above the sector's middle half▲ 4.1pp10.2%within the sector's middle half▼ 8.3pp9.1%within the sector's middle half▼ 1.1pp11.6%within the sector's middle half▲ 2.5pp
Staff (FTE)4=4=4within the sector's middle half=3▼ 25.0%3=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 recovers in 2025; 2025 is 24% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €899,878
Fixed assets
€343,919 ▲ 9.1%
Current assets
€555,959 ▼ 15.0%
Equity and liabilities €899,878
Equity
€765,985 ▼ 2.6%
Debt
€133,892 ▼ 26.8%
Debt's share of the balance-sheet total falls from 18.9% to 14.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€189,943▲
2024 · €158,917
Cash flow
€149,991▲
2024 · €130,795
Quick ratio
7.08▼
2024 · 7.66
Debt to equity
0.17▼
2024 · 0.23
ROE
13.6%▲
2024 · 11.2%
Interest coverage
51.19▲
2024 · 32.13
Debt ≤ 1 year
€72,920▼
2024 · €78,725
Debt > 1 year
€60,869▼
2024 · €103,936
Income taxes
€44,244▲
2024 · €36,993
Staff costs
€172,494▲
2024 · €170,376
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 34,679 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €179,058 | €196,517 | €221,640 | €170,376 | €172,494 | ▲ 1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,724 | €23,191 | €31,794 | €42,955 | €45,663 | ▲ 6.3% |
| Other operating charges640/8 | €4,093 | €4,228 | €4,558 | €4,501 | €7,059 | ▲ 56.8% |
| Gross operating margin9900 | €381,937 | €497,586 | €404,909 | €333,794 | €369,496 | ▲ 10.7% |
| Operating profit (loss)9901 | €177,062 | €273,650 | €146,918 | €115,962 | €144,280 | ▲ 24.4% |
| Financial income75/76B | €4,671 | €6,615 | €8,767 | €13,817 | €8,002 | ▼ 42.1% |
| Recurring financial income75 | €4,671 | €6,615 | €8,767 | €13,817 | €8,002 | ▼ 42.1% |
| Financial charges65/66B | €3,744 | €2,917 | €4,116 | €4,945 | €3,711 | ▼ 25.0% |
| Recurring financial charges65 | €3,744 | €2,917 | €4,116 | €4,945 | €3,711 | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | €177,989 | €277,348 | €151,568 | €124,834 | €148,571 | ▲ 19.0% |
| Income taxes67/77 | €52,640 | €85,024 | €44,326 | €36,993 | €44,244 | ▲ 19.6% |
| Profit (loss) for the period9904 | €125,349 | €192,324 | €107,242 | €87,840 | €104,327 | ▲ 18.8% |
| Profit (loss) for the period to be appropriated9905 | €125,349 | €192,324 | €107,242 | €87,840 | €104,327 | ▲ 18.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €872,251 | €1.0m | €1.1m | €969,411 | €899,878 | ▼ 7.2% |
| Fixed assets21/28 | €284,847 | €278,208 | €352,360 | €315,370 | €343,919 | ▲ 9.1% |
| Tangible fixed assets22/27 | €284,734 | €278,095 | €352,247 | €315,257 | €343,806 | ▲ 9.1% |
| Land and buildings22 | €272,281 | €263,154 | €265,385 | €244,537 | €225,909 | ▼ 7.6% |
| Plant, machinery and equipment23 | €1,006 | €4,383 | €4,236 | €4,814 | €5,141 | ▲ 6.8% |
| Furniture and vehicles24 | €9,644 | €9,372 | €81,930 | €65,527 | €112,535 | ▲ 71.7% |
| Other tangible fixed assets26 | €1,803 | €1,186 | €695 | €379 | €221 | ▼ 41.6% |
| Financial fixed assets28 | €113 | €113 | €113 | €113 | €113 | = |
| Current assets29/58 | €587,404 | €762,009 | €698,488 | €654,041 | €555,959 | ▼ 15.0% |
| Stocks and contracts in progress3 | €42,616 | €62,772 | €45,635 | €51,261 | €39,774 | ▼ 22.4% |
| Stocks30/36 | €42,616 | €62,772 | €45,635 | €51,261 | €39,774 | ▼ 22.4% |
| Amounts receivable within one year40/41 | €67,356 | €97,735 | €96,599 | €51,453 | €60,316 | ▲ 17.2% |
| Trade receivables40 | €67,356 | €97,735 | €93,111 | €41,308 | €40,961 | ▼ 0.8% |
| Other amounts receivable41 | - | - | €3,487 | €10,146 | €19,354 | ▲ 90.8% |
| Current investments50/53 | - | - | €250,000 | €250,000 | €150,000 | ▼ 40.0% |
| Cash at bank and in hand54/58 | €474,518 | €586,317 | €301,927 | €300,085 | €302,408 | ▲ 0.8% |
| Deferred charges and accrued income490/1 | €2,914 | €15,184 | €4,328 | €1,241 | €3,461 | ▲ 179% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €872,251 | €1.0m | €1.1m | €969,411 | €899,878 | ▼ 7.2% |
| Equity10/15 | €604,696 | €790,845 | €822,758 | €786,530 | €765,985 | ▼ 2.6% |
| Reserves13 | €604,696 | €790,845 | €822,758 | €786,530 | €765,985 | ▼ 2.6% |
| Tax-exempt reserves132 | €11,284 | €11,284 | €11,284 | €11,284 | €11,284 | = |
| Distributable reserves133 | €593,413 | €779,561 | €811,474 | €775,247 | €754,702 | ▼ 2.7% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €267,555 | €249,372 | €228,090 | €182,880 | €133,892 | ▼ 26.8% |
| Amounts payable after more than one year17 | €159,553 | €133,124 | €146,063 | €103,936 | €60,869 | ▼ 41.4% |
| Financial debts170/4 | €159,553 | €133,124 | €146,063 | €103,936 | €60,869 | ▼ 41.4% |
| Amounts payable within one year42/48 | €78,921 | €116,179 | €81,953 | €78,725 | €72,920 | ▼ 7.4% |
| Current portion of amounts payable after more than one year42 | €26,060 | €26,429 | €41,212 | €42,127 | €43,067 | ▲ 2.2% |
| Financial debts43 | €8,369 | €11,717 | €11,851 | €11,861 | €11,826 | ▼ 0.3% |
| Credit institutions430/8 | €8,369 | €11,717 | €11,851 | €11,861 | €11,826 | ▼ 0.3% |
| Trade debts44 | €4,539 | €28,991 | €2,465 | €2,882 | €4,879 | ▲ 69.3% |
| Suppliers440/4 | €4,539 | €28,991 | €2,465 | €2,882 | €4,879 | ▲ 69.3% |
| Taxes, remuneration and social security45 | €39,938 | €49,027 | €26,411 | €21,855 | €13,147 | ▼ 39.8% |
| Taxes450/3 | €26,692 | €34,955 | €10,733 | €9,097 | €306 | ▼ 96.6% |
| Remuneration and social security454/9 | €13,247 | €14,072 | €15,678 | €12,758 | €12,841 | ▲ 0.7% |
| Other amounts payable47/48 | €15 | €15 | €15 | €0 | - | - |
| Accrued charges and deferred income492/3 | €29,081 | €68 | €75 | €219 | €104 | ▼ 52.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125,349 | €192,324 | €107,242 | €87,840 | €104,327 | ▲ 18.8% |
| + Depreciation and write-downs630 | €21,724 | €23,191 | €31,794 | €42,955 | €45,663 | ▲ 6.3% |
| Operating cash flow (approximation) | €147,072 | €215,515 | €139,035 | €130,795 | €149,991 | ▲ 14.7% |
| Investment in fixed assets (approximation) | - | -€16,552 | -€105,945 | -€5,965 | -€74,212 | ▼ 1,144% |
| Change in cash | - | €111,799 | -€284,391 | -€1,841 | €2,322 | ▲ 226% |
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
Next filing, fiscal year 2026, expected by
2026
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €87,840 ▼18.1%
Net result drops to €87,840, the lowest in the series; recovery starts the following year.
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €192,324 ▲53.4%
Operating result €273,650, net result €192,324, both a record.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €500,000Eq €604,696 ▲26.1%
4 profitable years in a row build equity to €604,696.
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Wetteren · 2 establishment units since 2008
Ground area
5,522 m²
Building footprint
1,372 m²
Volume, LiDAR
2,234 m³
2 parcels, Flanders · tallest building 19.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
CLAUDE WELLENS
since 20082.174.786.619
Peperstraat 9, 9230 Wetteren
since 20182.281.429.607
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42025A1005/00G000 | Flanders | 4,805 m² | 1 · 1,246 m² | 19.0 m |
| 42025A0853/00L000 | Flanders | 717 m² | 1 · 127 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
6 categoriesEIW BV36746
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VARDA
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,335. 5,420 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded05-09-2008
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
Contact
E-mail
claude.wellens@telenet.be
Phone
0495301002Wetteren
E-invoicing
Reachable via Peppol
Peppol ID
0208:0806172542
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.