EL WAFAA
InactiveEL WAFAA was declared bankrupt on 10-01-2023 (Ondernemingsrechtbank Brussel); the bankruptcy was closed by liquidation by judgment of 18-07-2025, published in the Belgian State Gazette on 29-07-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 4 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline24-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 20-10-2022, 81 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
81 d late
2020
24 d late
2019
119 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Turnover
€54k▼ 33.7%
2019 · €81k
2018: €52k
2019: €81k
2018 → 2020
EBIT margin
-5.1%▼ 13.8pp
2019 · 8.7%
2018: 14.8%
2019: 8.7%
2018 → 2020
Net result
€407
2020 · €-3k
2018: €8k
2019: €7k
2020: €-3k
2018 → 2021
Working capital
€11k▲ 13.7%
2020 · €10k
2018: €8k
2019: €15k
2020: €10k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Turnover€52k-€81k▲ 55.3%€54k▼ 33.7%
Equity€8k-€15k▲ 91.3%€12k▼ 19.1%€12k▲ 3.4%
Operating result€8k-€7k▼ 8.8%€-3k€445
Net result€8k-€7k▼ 8.7%€-3k€407
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2021: €445 after a loss of €3k in 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €38k
Fixed assets
€965 ▼ 49.9%
Current assets
€37k ▼ 25.0%
Equity and liabilities €38k
Equity
€12k ▲ 3.4%
Debt
€26k ▼ 34.7%
Debt's share of the balance-sheet total falls from 77.0% to 67.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1k▲
2020 · €-2k
Cash flow
€1k▲
2020 · €-2k
Current ratio
1.43▲
2020 · 1.25
Quick ratio
0.95▼
2020 · 1.21
Debt to equity
2.12
ROE
3.3%▲
2020 · -23.7%
ROA
1.1%▲
2020 · -5.4%
Interest coverage
37.15
Debt ≤ 1 year
€26k▼
2020 · €40k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 35 lines
Balance sheet
Code20202021
Assets
Total assets20/58€52k€38k▼
Fixed assets21/28€2k€965▼
Tangible fixed assets22/27€2k€965▼
Furniture and vehicles24-€965
Current assets29/58€50k€37k▼
Stocks and contracts in progress3€2k€13k▲
Stocks30/36-€13k
Amounts receivable within one year40/41€14k€2k▼
Other amounts receivable41-€2k
Cash at bank and in hand54/58€34k€23k▼
Equity and liabilities
Total equity and liabilities10/49€52k€38k▼
Equity10/15€12k€12k▲
Reserves13€737€737=
Non-distributable reserves130/1-€737
Reserves not available under the articles1311-€737
Profit (loss) carried forward14€11k€12k▲
Amounts payable17/49€40k€26k▼
Amounts payable within one year42/48€40k€26k▼
Current portion of amounts payable after more than one year42-€21k
Trade debts44€27k€3k▼
Suppliers440/4-€3k
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Income statement
Code20202021
Turnover70€54k-
Non-recurring operating income76A-€8k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€963€963=
Gross operating margin9900€-2k€1k▲
Operating profit (loss)9901€-3k€445▲
Financial charges65/66B-€38
Recurring financial charges65€80€38▼
Profit (loss) for the period before taxes9903€-3k€407▲
Profit (loss) for the period9904€-3k€407▲
Profit (loss) for the period to be appropriated9905€-3k€407▲
Appropriation of the result
Profit (loss) to be appropriated9906-€12k
Profit (loss) brought forward from the previous period14P-€11k
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-07
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Brussel · EL WAFAA BV LT. GRAFFPLEIN 15, 1780 WEMMEL · event 18-07-2025
2023
16-01
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · EL WAFAA BV LT. GRAFF- PLEIN 15, 1780 WEMMEL · event 10-01-2023
2022
20-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 81 days late
2021
31-12
Financial
Back to profitnet €407
Net result €407 after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
31-12
Financial
Weakest financial yearnet €-3k ▼140%
Net result drops to €-3k, the lowest in the series.
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 119 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 6.04
Current ratio from 1.77 to 6.04; short-term debt falls from €10k to €3k.
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 57 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | WIM BOLLEN STEENWEG OP SINT-JORIS-WINGE 21,
3200 AARSCHOT |
10-01-2023 → 18-07-2025 |