Eqwal
ActiveSummary
Eqwal has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.6m and a net result of €1.2m. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 39% of 4909 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
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Signals
This company filed its last 7 accounts on average 13 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, full schema
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- 2022 Net result +214% on 2021. The previous fiscal year ran 9 months, this one 12.
Peer companies
Historical observationOf the 1,552 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 1,552 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €22.9m | €26.7m | €36.1m | €41.5m | ▲ 14.8% |
| Turnover70 | €14.8m | €21.9m | €26.1m | €34.5m | €38.9m | ▲ 13.0% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €59,096 | - | €219,888 | €61,390 | ▼ 72.1% |
| Other operating income74 | - | €975,046 | €638,339 | €1.4m | €2.0m | ▲ 39.2% |
| Non-recurring operating income76A | - | - | €250 | €0 | €463,956 | ▲ 125,393,414% |
| Operating charges60/66A | - | €19.6m | €23.4m | €32.9m | €39.8m | ▲ 20.8% |
| Goods for resale, raw materials and consumables60 | - | €6.3m | €7.5m | €10.0m | €11.7m | ▲ 16.8% |
| Purchases600/8 | - | €6.3m | €8.0m | €10.7m | €12.3m | ▲ 15.2% |
| Change in stocks: decrease (increase)609 | - | -€8,880 | -€494,194 | -€664,823 | -€599,375 | ▲ 9.8% |
| Services and other goods61 | - | €5.9m | €6.8m | €10.2m | €11.5m | ▲ 12.9% |
| Remuneration, social security and pensions62 | - | €6.4m | €8.0m | €11.3m | €13.8m | ▲ 22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €892,933 | €976,904 | €1.0m | €1.2m | €1.5m | ▲ 21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €57,960 | €41,917 | €161,255 | €445,769 | ▲ 176% |
| Other operating charges640/8 | - | €28,153 | €46,176 | €84,977 | €903,775 | ▲ 964% |
| Operating profit (loss)9901 | €1.2m | €3.3m | €3.3m | €3.2m | €1.7m | ▼ 47.7% |
| Financial income75/76B | - | €85,771 | €201,989 | €247,452 | €216,467 | ▼ 12.5% |
| Recurring financial income75 | €67,086 | €85,771 | €201,989 | €247,452 | €216,467 | ▼ 12.5% |
| Income from current assets751 | - | €14,984 | €141,977 | €163,985 | €61,153 | ▼ 62.7% |
| Other financial income752/9 | - | €70,786 | €60,012 | €83,467 | €155,314 | ▲ 86.1% |
| Financial charges65/66B | - | €17,582 | €26,298 | €64,758 | €81,792 | ▲ 26.3% |
| Recurring financial charges65 | €86,392 | €17,582 | €26,298 | €64,758 | €81,792 | ▲ 26.3% |
| Debt charges650 | €73,484 | €8,701 | €16,117 | €24,789 | €69,816 | ▲ 182% |
| Other financial charges652/9 | - | €8,881 | €10,180 | €39,969 | €11,976 | ▼ 70.0% |
| Profit (loss) for the period before taxes9903 | €1.2m | €3.4m | €3.5m | €3.4m | €1.8m | ▼ 46.6% |
| Income taxes67/77 | €388,794 | €879,041 | €1.0m | €999,390 | €606,415 | ▼ 39.3% |
| Taxes670/3 | - | €879,041 | €1.0m | €1.3m | €659,573 | ▼ 48.8% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €287,885 | €53,158 | ▼ 81.5% |
| Profit (loss) for the period9904 | €790,346 | €2.5m | €2.5m | €2.4m | €1.2m | ▼ 49.6% |
| Profit (loss) for the period to be appropriated9905 | €790,346 | €2.5m | €2.5m | €2.4m | €1.2m | ▼ 49.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.3m | €13.6m | €17.1m | €24.3m | €21.6m | ▼ 11.0% |
| Fixed assets21/28 | €3.5m | €3.4m | €4.2m | €4.7m | €6.2m | ▲ 31.1% |
| Intangible fixed assets21 | €1.7m | €1.7m | €2.4m | €2.2m | €2.1m | ▼ 5.0% |
| Tangible fixed assets22/27 | €1.7m | €1.6m | €1.7m | €2.4m | €3.9m | ▲ 59.9% |
| Land and buildings22 | - | €34,869 | €78,426 | €109,974 | €142,386 | ▲ 29.5% |
| Plant, machinery and equipment23 | - | €281,046 | €494,045 | €1.2m | €1.4m | ▲ 21.3% |
| Furniture and vehicles24 | - | €239,540 | €229,316 | €359,884 | €493,606 | ▲ 37.2% |
| Leasing and similar rights25 | - | €416,214 | €376,373 | €186,656 | €392,042 | ▲ 110% |
| Other tangible fixed assets26 | - | €653,102 | €551,891 | €587,292 | €1.4m | ▲ 141% |
| Financial fixed assets28 | €98,326 | €98,426 | €98,326 | €142,258 | €276,826 | ▲ 94.6% |
| Affiliated companies280/1 | - | €3,087 | €3,087 | €3,087 | €3,087 | = |
| Participating interests280 | - | €3,087 | €3,087 | €3,087 | €3,087 | = |
| Other financial fixed assets284/8 | - | €95,339 | €95,239 | €139,171 | €273,739 | ▲ 96.7% |
| Amounts receivable and cash guarantees285/8 | - | €95,339 | €95,239 | €139,171 | €273,739 | ▲ 96.7% |
| Current assets29/58 | €8.8m | €10.2m | €12.9m | €19.6m | €15.4m | ▼ 21.2% |
| Amounts receivable after more than one year29 | - | €370,618 | €383,717 | - | - | - |
| Other amounts receivable291 | - | €370,618 | €383,717 | - | - | - |
| Stocks and contracts in progress3 | €2.2m | €2.3m | €2.6m | €4.7m | €5.3m | ▲ 14.1% |
| Stocks30/36 | - | €2.3m | €2.6m | €4.7m | €5.3m | ▲ 14.1% |
| Raw materials and consumables30/31 | - | €807,636 | €898,684 | €1.6m | €1.9m | ▲ 20.1% |
| Work in progress32 | - | €132,400 | €109,542 | €114,067 | €99,766 | ▼ 12.5% |
| Finished goods33 | - | €273,207 | €289,081 | €600,093 | €675,784 | ▲ 12.6% |
| Goods purchased for resale34 | - | €1.1m | €1.3m | €2.4m | €2.7m | ▲ 11.8% |
| Amounts receivable within one year40/41 | €5.6m | €5.8m | €8.2m | €14.5m | €9.7m | ▼ 32.8% |
| Trade receivables40 | - | €4.6m | €5.0m | €10.4m | €8.2m | ▼ 20.9% |
| Other amounts receivable41 | - | €1.2m | €3.2m | €4.1m | €1.5m | ▼ 63.2% |
| Cash at bank and in hand54/58 | €830,452 | €1.6m | €1.5m | €158,465 | €10,669 | ▼ 93.3% |
| Deferred charges and accrued income490/1 | - | €131,514 | €201,395 | €279,829 | €358,974 | ▲ 28.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.3m | €13.6m | €17.1m | €24.3m | €21.6m | ▼ 11.0% |
| Equity10/15 | €5.4m | €6.9m | €6.9m | €9.7m | €7.6m | ▼ 21.6% |
| Contributions10/11 | €715,080 | €715,080 | €715,080 | €808,686 | €808,686 | = |
| Capital10 | - | €715,080 | €715,080 | €808,686 | €808,686 | = |
| Issued capital100 | - | €727,480 | €727,480 | €821,086 | €808,686 | ▼ 1.5% |
| Uncalled capital101 | - | €12,400 | €12,400 | €12,400 | - | - |
| Reserves13 | €4.7m | €6.1m | €6.1m | €6.4m | €6.4m | = |
| Non-distributable reserves130/1 | - | €73,280 | €73,280 | €73,280 | €73,281 | = |
| Legal reserve130 | - | €73,280 | €73,280 | €73,280 | €73,281 | = |
| Tax-exempt reserves132 | - | €3,810 | €3,810 | €3,810 | €3,810 | = |
| Distributable reserves133 | - | €6.1m | €6.1m | €6.3m | €6.3m | = |
| Profit (loss) carried forward14 | - | - | - | €2.5m | €448,792 | ▼ 82.4% |
| Amounts payable17/49 | €6.9m | €6.7m | €10.2m | €14.6m | €14.0m | ▼ 4.0% |
| Amounts payable after more than one year17 | €292,884 | €318,882 | €317,228 | €245,056 | €305,014 | ▲ 24.5% |
| Financial debts170/4 | - | €318,882 | €317,228 | €245,056 | €305,014 | ▲ 24.5% |
| Leasing and similar obligations172 | - | €318,882 | €317,228 | €245,056 | €305,014 | ▲ 24.5% |
| Amounts payable within one year42/48 | €6.6m | €6.4m | €9.8m | €14.4m | €13.6m | ▼ 5.4% |
| Current portion of amounts payable after more than one year42 | - | €129,283 | €182,778 | €171,570 | €174,762 | ▲ 1.9% |
| Trade debts44 | €2.7m | €2.9m | €3.6m | €5.8m | €5.7m | ▼ 2.8% |
| Suppliers440/4 | - | €2.9m | €3.6m | €5.8m | €5.7m | ▼ 2.8% |
| Advances received on contracts in progress46 | - | €41,525 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €2.1m | €3.4m | €4.3m | €4.2m | ▼ 0.7% |
| Taxes450/3 | - | €834,500 | €1.8m | €1.6m | €1.6m | ▼ 0.3% |
| Remuneration and social security454/9 | - | €1.3m | €1.5m | €2.7m | €2.7m | ▼ 1.0% |
| Other amounts payable47/48 | - | €1.1m | €2.7m | €4.1m | €3.5m | ▼ 14.5% |
| Accrued charges and deferred income492/3 | - | €23,296 | €92,270 | €6,802 | €146,069 | ▲ 2,048% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €790,346 | €2.5m | €2.5m | €2.4m | €1.2m | ▼ 49.6% |
| + Depreciation and write-downs630 | €892,933 | €976,904 | €1.0m | €1.2m | €1.5m | ▲ 21.8% |
| Operating cash flow (approximation) | €1.7m | €3.5m | €3.5m | €3.6m | €2.7m | ▼ 25.8% |
| Investment in fixed assets (approximation) | - | -€851,134 | -€1.8m | -€1.7m | -€2.9m | ▼ 70.4% |
| Change in cash | - | €771,193 | -€71,701 | -€1.4m | -€147,796 | ▲ 89.2% |
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
09-02
State Gazette act
Capital & shares · RestructuringMerger · Accounting effect · Director discharge11 facts ▸
- General meeting, 31-12-2025
- Merger, verrichting gelijkgesteld met een fusie door overneming, 01-01-2026
- Accounting effect, 01-10-2025
- Director discharge, MOBILITY BY OLIVIER
- Capital increase, €35.560,62
- Capital, €844.246,58
- Statutes amendment
- Power of attorney, CMS DeBacker
- Shareholder, FINICOMA
- Shareholder, FINICOMA
- Condition, De fusie moet plaatsvinden op een ogenblik dat redelijkerwijs voorafgaat aan de met fusie door overneming gelijkgestelde verrichting, op grond waarvan de Vennoo…
09-02
State Gazette act
Capital & shares · RestructuringMerger · Accounting effect · Capital increase7 facts ▸
- General meeting, 31-12-2025
- Merger, absorption, 01-01-2026
- Accounting effect, 01-10-2025
- Capital increase, €294.000
- Capital, €1.138.246,58
- Statutes amendment
- Power of attorney, CMS DeBacker
Show earlier events
About the unread acts
Of the 46 Belgian State Gazette acts we know for this company, 2 have been read. The other 44 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
4 establishment units
4 parcels
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44051C0551/00A000 | Flanders | 1.1 ha | 1 · 4,763 m² | 12.2 m · 2 fl. |
| 71328D0383/00P003 | Flanders | 5,551 m² | 1 · 1,032 m² | 16.0 m · 4 fl. |
| 11050B0046/00T005 | Flanders | 2,667 m² | 1 · 1,404 m² | 8.9 m · 2 fl. |
| 11012A0287/00W002 | Flanders | 793 m² | 1 · 377 m² | 13.2 m · 2 fl. |
Linked by address, not proof of ownership
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- Ovalie Développement 2FR
- FINICOMA
- Eqwal
Highest known parent: Ovalie Développement 2 (France). The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
-
0.01%
According to the annual accounts to 30-09-2024 of Eqwal and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
2 transactionsCapital and shareholders
- 09-02-2026 Capital increase of 294,000 EUR · to 1,138,246.58 EUR · no new shares
- 09-02-2026 Capital increase of 35,560.62 EUR · to 844,246.58 EUR
Public money · subsidies and aid
Flemish government
2022 to 2025 · 14 entries · 315,389 EUR awarded · 303,286 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 6 | 27,817 EUR | 53,464 EUR |
| 2024 | 3 | 19,553 EUR | 21,229 EUR |
| 2023 | 3 | 228,623 EUR | 190,842 EUR |
| 2022 | 2 | 39,396 EUR | 37,751 EUR |
Recognitions · licences · registrations
Care and welfare
1 serviceDual-learning approval
3 live approvalsLegal Entity Identifier
Similar companies · same sector, comparable size
Identification & contact
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.