Checked.be
Active
BE 0866.035.893Public limited company
ELECTRAWINDS BIOMASSE MOUSCRON
Warandenstraat 17 ·7700 Mouscron, Belgium· 22 yrs active
Sector: Production of electricity from non-renewable sources
(35110)
Conclusion
ELECTRAWINDS BIOMASSE MOUSCRON has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.75M and a net result of €85k. Equity is growing by ~22.2% per year across the filed fiscal years. Its solvency ranks better than 62% of 264 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €10.75M |
| Net result | €85k |
| Better than sector | 62% |
| Active | 22 yrs |
Financial profile
62
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
87
Profitability
4
Solvency
82
Growth
35
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2004, 22 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
87
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€950k
estimate, not credit advice
Score history
63
2022
100
2023
35
2024
87
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.83 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.80 (≥ 1.0)
+5
Leverage
Debt/equity 1.38 (< 2.0)
+3
Profitability
ROE 1%
+3
Interest coverage
Interest coverage 19.4× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 03-12-2025 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~22.2%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 35, Electricity, gas, steam and air conditioning supply · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 41.8% | 29.1% | |
| Net result | €85k | €176k | |
| Equity | €10.75M | €2.60M | |
| Staff costs | €529 | €1.10M | |
| Employees (FTE) | 0.0 | 10.5 |
€0
-100.0%
22-25
€318k
-
22-25
€85k
-
22-25
€474k
-
22-25
€25.70M
+0.4%
22-25
€10.75M
+0.8%
22-25
€11.02M
+20.4%
22-25
0
-100.0%
22-25
€529
-99.9%
22-25
€994
-75.4%
22-25
€14.89M
+0.2%
22-25
€13.33M
-9.3%
22-25
€1.53M
+1231.3%
22-25
1.83
+12.6%
22-25
1.80
+12.8%
22-25
41.8%
+0.4%
22-25
1.38
-0.6%
22-25
0.8%
-
22-25
0.3%
-
22-25
-354.5%
-
22-25
-312.2%
-
22-25
19.35
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema |
| Revenue | €0 | €528k | €22.54M | €12.39M |
| EBITDA | €318k | €-1.65M | €10.39M | €485k |
| Net profit | €85k | €-1.87M | €9.34M | €204k |
| Cash flow | €474k | €-1.48M | €9.66M | €480k |
| Staff costs | €529 | €563k | €773k | €578k |
| Income taxes | €994 | €4k | €727k | - |
| Dividends | - | - | - | - |
| Total assets | €25.70M | €25.58M | €15.72M | €23.18M |
| Equity | €10.75M | €10.67M | €12.54M | €3.31M |
| Debt | €14.89M | €14.86M | €3.13M | €19.83M |
| of which ≤ 1y | €13.33M | €14.70M | €3.00M | €19.74M |
| of which > 1y | €1.53M | €115k | - | - |
| Working capital | €11.02M | €9.15M | €10.60M | €1.71M |
| Employees (FTE) | 0.0 | 5.3 | 7.6 | 8.0 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.83 | 1.62 | 4.53 | 1.09 |
| Quick ratio | 1.80 | 1.60 | 4.41 | 1.04 |
| Working capital ratio | 42.9% | 35.8% | 67.4% | 7.4% |
| Solvency | 41.8% | 41.7% | 79.8% | 14.3% |
| Debt / equity | 1.38 | 1.39 | 0.25 | 5.99 |
| Long-term debt ratio | 0.14 | 0.01 | - | - |
| Interest coverage | 19.35 | -558.02 | 77.11 | 137.08 |
| Gross margin | - | 98.6% | 55.4% | 15.3% |
| Net margin | - | -354.5% | 41.4% | 1.7% |
| ROA | 0.3% | -7.3% | 59.4% | 0.9% |
| ROE | 0.8% | -17.5% | 74.5% | 6.2% |
| EBITDA margin | - | -312.2% | 46.1% | 3.9% |
| Days sales outstanding | - | 11d | 96d | 592d |
| Days payable outstanding | 172378d | 72596d | 78d | 684d |
| Inventory turnover | 0.00 | 0.02 | 27.36 | 11.01 |
| Days inventory (DSI) | 793891d | 17887d | 13d | 33d |
Balance-sheet composition 2025
Full annual accounts (27 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €25.70M | €25.58M | €15.72M | €23.18M |
| Fixed assets | 21/28 | €1.34M | €1.73M | €2.12M | €1.73M |
| Intangible fixed assets | 21 | - | - | €0 | - |
| Tangible fixed assets | 22/27 | €1.34M | €1.73M | €2.12M | €1.72M |
| Financial fixed assets | 28 | €1k | €1k | €100 | €100 |
| Current assets | 29/58 | €24.36M | €23.86M | €13.60M | €21.46M |
| Stocks & contracts in progress | 3 | €318k | €361k | €367k | €953k |
| Amounts receivable within one year | 40/41 | €13.27M | €12.53M | €13.09M | €20.13M |
| Cash & bank | 54/58 | €5k | €14k | €156 | €1k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €25.70M | €25.58M | €15.72M | €23.18M |
| Equity | 10/15 | €10.75M | €10.67M | €12.54M | €3.31M |
| Contributions / capital | 10/11 | €14.10M | €14.10M | €14.10M | €14.10M |
| Reserves | 13 | €107k | €107k | €107k | €107k |
| Accumulated profits (losses) | 14 | €-3.45M | €-3.54M | €-1.67M | €-10.90M |
| Provisions & deferred taxes | 16 | €51k | €51k | €51k | €51k |
| Amounts payable | 17/49 | €14.89M | €14.86M | €3.13M | €19.83M |
| Amounts payable after one year | 17 | €1.53M | €115k | - | - |
| Amounts payable within one year | 42/48 | €13.33M | €14.70M | €3.00M | €19.74M |
| Trade debts payable within one year | 44 | €69k | €1.46M | €2.15M | €19.66M |
| Income statement | |||||
| Turnover | 70 | €0 | €528k | €22.54M | €12.39M |
| Operating result | 9901 | €-71k | €-2.04M | €10.07M | €210k |
| Financial income | 75 | €972k | €176k | €137k | €0 |
| Financial charges | 65 | €776k | €4k | €143k | €6k |
| Result before taxes | 9903 | €86k | €-1.87M | €10.06M | €204k |
| Income taxes | 67/77 | €994 | €4k | €727k | - |
| Net result for the period | 9904 | €85k | €-1.87M | €9.34M | €204k |
| Result to be appropriated | 9905 | €85k | €-1.87M | €9.34M | €204k |
Directors & mandates
Current directors & mandates
-
VGD Bedrijfsrevisoren bvLegal entityAuditorState Gazette act 24157523 (05-11-2024)Current05-11-2024 → present
-
Peter Eddy A ConstantDélégué de la gestion journalièreState Gazette act 23127552 (06-10-2023)Current06-10-2023 → present
-
Danny SawrijDirectorState Gazette act 22323981 (08-04-2022)Current08-04-2022 → present
-
Danny Steven SawrijDirectorState Gazette act 22031643 (08-03-2022)Current01-02-2016 → present
4 events
- 08-04-2022 Resigned· Director
- 08-03-2022 Appointed· Director
- 08-03-2022 Appointed· Managing director
- 01-02-2016 Appointed· Director
-
Luc DesenderDirectorState Gazette act 22031643 (08-03-2022)Current14-07-2004 → present
2 events
- 08-03-2022 Appointed· Director
- 14-07-2004 Appointed· Managing director
Historic, not recently confirmed (3)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
KPMG Bedrijfsrevisoren Burg. CVBALegal entityAuditorState Gazette act 19104334 (31-07-2019)Not recently confirmedlast confirmed in an act from 2019
-
NV LDSLegal entityDirectorState Gazette act 16016577 (01-02-2016)Not recently confirmedlast confirmed in an act from 2016
3 events
- 08-03-2022 Resigned· Managing director
- 01-02-2016 Appointed· Director
- 01-02-2016 Appointed· Managing director
-
Guy DepauwDirectorState Gazette act 10073156 (20-05-2010)Not recently confirmedlast confirmed in an act from 2010
Former directors (2)
-
LDSDirectorState Gazette act 22323981 (08-04-2022)Former- → 08-04-2022
-
NV ElectrawindsLegal entityDirectorState Gazette act 16016577 (01-02-2016)Former- → 01-02-2016
Statutory auditor
| Filip DriegheCurrent Commissaire | 05-11-2021 → present |
| PWC Bedrijfsrevisoren BVCurrent Commissaire | 05-11-2021 → present |
Show 1 earlier auditors
| Emst&Young Audit BV CVBA Commissaire succeeded by Filip Drieghe in 2021 | 06-03-2015 → 05-11-2021 |
Legal Structure
| NACE primary | Production of electricity from non-renewable sources(35110) |
| Legal form | Public limited company(014) |
| Incorporation | 29-06-2004 |
| Status | Active |
| Postal code | 7700 |
Establishment units
ELECTRAWINDS BIOMASSE MOUSCRON
since 20042.138.024.015
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54007B0159/00E002 | Wallonia | 2.8 ha | 1 · 3,067 m² | - |
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.
Updates
Next filing, fiscal year 2026, expected by
2025
03-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 3 days late
30-04
Financial
Back to profitnet €85k
Net result €85k after one loss-making year.
03-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 34 days late
2024
05-11
State Gazette act
Director changes
v3.2
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 231 days late
30-04
Financial
Weakest financial yearnet €-1.87M ▼120%
Net result drops to €-1.87M, the lowest in the series; recovery starts the following year.
2023
06-10
State Gazette act
Director changes
v3.2
30-04
Financial
Highest result since 2022net €9.34M ▲4468%
Operating result €10.07M, net result €9.34M, both a record.
30-04
Financial
Liquidity quadruplescurrent ratio 4.53
Current ratio from 1.09 to 4.53; short-term debt falls from €19.74M to €3.00M.
30-04
Financial
Equity above €10MEq €12.54M ▲279%
2 profitable years in a row build equity to €12.54M.
2022
20-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 20 days late
08-04
State Gazette act
Statutes amendment
v3.2
08-03
State Gazette act
Director changes
v3.2
2021
10-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 10 days late
05-11
State Gazette act
Director changes
v3.2
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
08-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 130 days late
2019
04-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 308 days late
31-07
State Gazette act
Director changes
v3.2
2018
09-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 193 days late
2017
15-12
State Gazette act
Statutes amendment
v3.2
24-01
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 177 days late
2016
01-02
State Gazette act
Director changes
v3.2
2015
06-03
State Gazette act
Director changes
v3.2
2010
20-05
State Gazette act
Director changes
v3.2
2004
14-07
State Gazette act
Director changes
v3.2
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 15 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 11
updated 1 year ago
2024
05-11-2024 VGD Bedrijfsrevisoren bv appointed as auditor
- VGD Bedrijfsrevisoren bv, Auditor
Summary:
v3.2
Technical details
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"subject_company": {
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"name_full": "Electrawinds Biomasse Mouscron"
}
}2023
06-10-2023 Peter Eddy A Constant appointed as délégué de la gestion journalière
- Peter Eddy A Constant, Délégué de la gestion journalière
Summary:
v3.2
Technical details
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],
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}2022
08-04-2022 Articles of association amended
Summary:
v3.2
Technical details
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"new": "Soci\u00E9t\u00E9 anonyme",
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}08-03-2022 3 directors appointed, 1 resigning
- Luc Desender, Bestuurder
- Danny Steven Sawrij, Bestuurder
- Danny Steven Sawrij, Gedelegeerd bestuurder
- Lds nv, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
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}2021
05-11-2021 2 directors appointed
- Filip Drieghe, Commissaire
- PWC Bedrijfsrevisoren BV, Commissaire
Summary:
v3.2
Technical details
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}2019
31-07-2019 KPMG Bedrijfsrevisoren Burg. CVBA appointed as auditor
- KPMG Bedrijfsrevisoren Burg. CVBA, Auditor
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "auditor",
"person": {
"rrn": null,
"name": "KPMG Bedrijfsrevisoren Burg. CVBA",
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],
"schema": "v3.2",
"act_meta": {
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},
"subject_company": {
"kbo": "0866.035.893",
"name_full": "Electrawinds Biomasse Mouscron"
}
}2017
15-12-2017 Articles of association amended
Summary:
v3.2
Technical details
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"legal_form_change": {
"new": "soci\u00E9t\u00E9 anonyme",
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}
}2016
01-02-2016 3 directors appointed, 1 resigning
- NV LDS, Bestuurder
- NV LDS, Gedelegeerd bestuurder
- Danny Steven Sawrij, Bestuurder
- NV Electrawinds, Bestuurder
Summary:
v3.2
Technical details
{
"events": [
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"kind": "director_out",
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"rrn": null,
"name": "NV Electrawinds",
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},
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},
{
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],
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"subject_company": {
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}
}2015
06-03-2015 Emst&Young Audit BV CVBA appointed as commissaire
- Emst&Young Audit BV CVBA, Commissaire
Summary:
v3.2
Technical details
{
"events": [
{
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"role": "commissaire",
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"name": "Emst\u0026Young Audit BV CVBA",
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],
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"subject_company": {
"kbo": "0866.035.893",
"name_full": "Electrawinds Biomassa Mouscron"
}
}2010
20-05-2010 Guy Depauw appointed as director
- Guy Depauw, Bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "administrateur",
"person": {
"rrn": null,
"name": "Guy Depauw",
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}
}
],
"schema": "v3.2",
"act_meta": {
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},
"subject_company": {
"kbo": "0866.035.893",
"name_full": "Electrawinds Biomasse Mouscron"
}
}2004
14-07-2004 Luc Desender appointed as managing director
- Luc Desender, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "administrateur d\u00E9l\u00E9gu\u00E9",
"person": {
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}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0866.035.893",
"name_full": "ELECTRAWINDS BIOMASSE MOUSCRON"
}
}Credit advice
Company registry (CBE)
Activities
Production of electricity from non-renewable sources35110
Names & trade names
| Legal nameFR | ELECTRAWINDS BIOMASSE MOUSCRON |
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