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Eqwal DMS

Active
Private limited companyfounded 201214 yrs activeMaria van Hongarijelaan 80A, 1082 Sint-Agatha-Berchem, BelgiumKBO/BCE: BE 0848.094.556
Summary

Eqwal DMS has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €680,765 and a net result of €100,630. Equity is growing by ~36.7% per year across the filed fiscal years. Its solvency ranks better than 73% of 6545 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).

Checked score

Score 2024
59 / 100
Fair
A confirmed filing finding caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability79▼-18
Solvency80▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days only on tighter terms
Liquidity ample (current ratio 2.09 against 2.08 in 2023; short-term debt: 44.6% and cash: 12.4% of total assets), and 44.6% of the assets are financed with debt.
Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 14 years 0 20 y
raises risk · Annual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 152 days later.
NBB · 10 filings
Position against the passed deadline
30-09-2025 close30-04-2026 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 17-04-2025, 13 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
13 d early
2023
91 d late
2022
19 d early
2021
19 d late
2020
26 d late
2019
23 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 21 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

Eqwal DMS was incorporated on 20 August 2012.1 Total assets rose from EUR 583,293 in 2018 to EUR 1.2 million in 2024 and headcount from 4.5 to 7 full-time equivalents.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€100,630▼ 56.3%
2023 · €230,476
Working capital
€595,556▲ 26.5%
2023 · €470,922
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result€63,688▼ 33.2%€103,051▲ 61.8%€140,924▲ 36.8%€320,442▲ 127%€130,703▼ 59.2%
Net result€40,179above the sector's middle half▼ 41.9%€79,274above the sector's middle half▲ 97.3%€103,018within the sector's middle half▲ 30.0%€230,476above the sector's middle half▲ 124%€100,630within the sector's middle half▼ 56.3%
Equity€167,368above the sector's middle half▼ 11.9%€246,642above the sector's middle half▲ 47.4%€349,660within the sector's middle half▲ 41.8%€580,136within the sector's middle half▲ 65.9%€680,765within the sector's middle half▲ 17.3%
Total assets€686,110above the sector's middle half▲ 9.3%€747,691above the sector's middle half▲ 9.0%€891,847within the sector's middle half▲ 19.3%€1.0mwithin the sector's middle half▲ 13.8%€1.2mwithin the sector's middle half▲ 21.1%
Debt€518,742▲ 18.5%€501,049▼ 3.4%€542,187▲ 8.2%€434,900▼ 19.8%€548,146▲ 26.0%
Working capital€38,440within the sector's middle half▼ 52.6%€97,210above the sector's middle half▲ 153%€131,464within the sector's middle half▲ 35.2%€470,922within the sector's middle half▲ 258%€595,556above the sector's middle half▲ 26.5%
Solvency24.4%within the sector's middle half▼ 5.9pp33.0%within the sector's middle half▲ 8.6pp39.2%within the sector's middle half▲ 6.2pp57.2%above the sector's middle half▲ 17.9pp55.4%within the sector's middle half▼ 1.8pp
Current ratio1.10within the sector's middle half▼ 0.191.25within the sector's middle half▲ 0.151.29within the sector's middle half▲ 0.042.08within the sector's middle half▲ 0.802.09within the sector's middle half=
Return on assets (ROA)5.9%within the sector's middle half▼ 5.2pp10.6%within the sector's middle half▲ 4.7pp11.6%above the sector's middle half▲ 0.9pp22.7%above the sector's middle half▲ 11.2pp8.2%within the sector's middle half▼ 14.5pp
Staff (FTE)3.7above the sector's middle half▼ 9.8%3.7=6.1within the sector's middle half▲ 64.9%6.8within the sector's middle half▲ 11.5%7within the sector's middle half▲ 2.9%
above within below the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
  • 2024 Net result -56% on 2023. The previous fiscal year ran 9 months, this one 12.
  • 2023 Net result +124% on 2022. This fiscal year ran 9 months, the previous one 12.
Result per fiscal year
Operating resultNet result
€0€100,000€200,000€300,000Operating result 2020: €63,688€63,688Net result 2020: €40,179€40,179Operating result 2021: €103,051€103,051Net result 2021: €79,274€79,274Operating result 2022: €140,924€140,924Net result 2022: €103,018€103,018Operating result 2023: €320,442€320,442Net result 2023: €230,476€230,476Operating result 2024: €130,703€130,703Net result 2024: €100,630€100,63020202021202220232024€0€100,000€200,000€300,000Operating result 2022: €140,924€141,000Net result 2022: €103,018€103,000Operating result 2023: €320,442€320,000Net result 2023: €230,476€230,000Operating result 2024: €130,703€131,000Net result 2024: €100,630€101,000202220232024
The operating result falls in 2024; 2024 is 59% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.2m
Fixed assets €85,209 ▼ 22.0%
Current assets €1.1m ▲ 26.3%
Equity and liabilities €1.2m
Equity €680,765 ▲ 17.3%
Debt €548,146 ▲ 26.0%
Debt's share of the balance-sheet total rises from 42.8% to 44.6%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
€155,003▼
2023 · €338,204
Cash flow
€124,930▼
2023 · €248,238
Quick ratio
1.90▲
2023 · 1.75
Debt to equity
0.81▲
2023 · 0.75
ROE
14.8%▼
2023 · 39.7%
Interest coverage
125.81▼
2023 · 193.04
Debt ≤ 1 year
€548,146▲
2023 · €434,900
Income taxes
€40,084▼
2023 · €88,242
Staff costs
€419,289▲
2023 · €231,547
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% 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
0.7% went bankrupt
3.9% stopped otherwise
95% still going

For this company itself Checked computes a higher bankruptcy probability: 1.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

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 34,696 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 45 lines
Balance sheet Code20232024
Assets
Total assets20/58€1.0m€1.2m▲
Fixed assets21/28€109,214€85,209▼
Tangible fixed assets22/27€108,822€85,209▼
Plant, machinery and equipment23€9,841€6,958▼
Furniture and vehicles24€44,281€31,807▼
Other tangible fixed assets26€54,700€46,444▼
Financial fixed assets28€392-
Current assets29/58€905,822€1.1m▲
Stocks and contracts in progress3€142,715€102,905▼
Stocks30/36€142,715€102,905▼
Amounts receivable within one year40/41€365,191€888,514▲
Trade receivables40€359,667€401,384▲
Other amounts receivable41€5,524€487,130▲
Cash at bank and in hand54/58€397,916€152,282▼
Deferred charges and accrued income490/1-€1
Equity and liabilities
Total equity and liabilities10/49€1.0m€1.2m▲
Equity10/15€580,136€680,765▲
Contributions10/11€66,000€66,000=
Reserves13€82,600€82,600=
Distributable reserves133€82,600€82,600=
Profit (loss) carried forward14€431,536€532,165▲
Amounts payable17/49€434,900€548,146▲
Amounts payable within one year42/48€434,900€548,146▲
Trade debts44€279,984€317,612▲
Suppliers440/4€279,984€317,612▲
Taxes, remuneration and social security45€154,916€230,534▲
Taxes450/3€97,527€135,857▲
Remuneration and social security454/9€57,389€94,677▲
Income statement Code20232024
Remuneration, social security and pensions62€231,547€419,289▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17,762€24,300▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€1,911-€1,911▼
Other operating charges640/8€2,259€851▼
Gross operating margin9900€573,921€573,232▼
Operating profit (loss)9901€320,442€130,703▼
Financial income75/76B€28€11,242▲
Recurring financial income75€28€11,242▲
Financial charges65/66B€1,752€1,232▼
Recurring financial charges65€1,752€1,232▼
Profit (loss) for the period before taxes9903€318,718€140,713▼
Income taxes67/77€88,242€40,084▼
Profit (loss) for the period9904€230,476€100,630▼
Profit (loss) for the period to be appropriated9905€230,476€100,630▼
Appropriation of the result
Profit (loss) to be appropriated9906€431,536€532,165▲
Profit (loss) brought forward from the previous period14P€201,060€431,536▲
Social balance
Average headcount (FTE)90876.87.0▲

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Remuneration, social security and pensions62-€268,000€262,008€231,547€419,289▲ 81.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20,870€17,014€25,012€17,762€24,300▲ 36.8%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€1,911-€1,911▼ 200%
Other operating charges640/8-€5,739€3,458€2,259€851▼ 62.3%
Gross operating margin9900€246,303€393,804€431,402€573,921€573,232▼ 0.1%
Operating profit (loss)9901€63,688€103,051€140,924€320,442€130,703▼ 59.2%
Financial income75/76B-€28€168€28€11,242▲ 40,049%
Recurring financial income75€59€28€168€28€11,242▲ 40,049%
Financial charges65/66B-€5,423€4,467€1,752€1,232▼ 29.7%
Recurring financial charges65€6,358€5,423€4,467€1,752€1,232▼ 29.7%
Profit (loss) for the period before taxes9903€57,389€97,656€136,625€318,718€140,713▼ 55.9%
Income taxes67/77€17,210€18,382€33,607€88,242€40,084▼ 54.6%
Profit (loss) for the period9904€40,179€79,274€103,018€230,476€100,630▼ 56.3%
Profit (loss) for the period to be appropriated9905€40,179€79,274€103,018€230,476€100,630▼ 56.3%
Line20202021202220232024Change
Assets
Total assets20/58€686,110€747,691€891,847€1.0m€1.2m▲ 21.1%
Fixed assets21/28€264,928€259,432€302,196€109,214€85,209▼ 22.0%
Tangible fixed assets22/27€254,568€259,040€301,804€108,822€85,209▼ 21.7%
Land and buildings22-€212,026€203,192---
Plant, machinery and equipment23-€14,816€11,991€9,841€6,958▼ 29.3%
Furniture and vehicles24-€26,265€30,704€44,281€31,807▼ 28.2%
Other tangible fixed assets26-€5,933€55,917€54,700€46,444▼ 15.1%
Financial fixed assets28€10,360€392€392€392--
Current assets29/58€421,182€488,259€589,651€905,822€1.1m▲ 26.3%
Stocks and contracts in progress3€47,774€71,396€124,942€142,715€102,905▼ 27.9%
Stocks30/36-€71,396€124,942€142,715€102,905▼ 27.9%
Amounts receivable within one year40/41€253,606€396,101€372,595€365,191€888,514▲ 143%
Trade receivables40-€379,488€352,943€359,667€401,384▲ 11.6%
Other amounts receivable41-€16,613€19,652€5,524€487,130▲ 8,718%
Cash at bank and in hand54/58€119,802€20,762€92,114€397,916€152,282▼ 61.7%
Deferred charges and accrued income490/1----€1-
Equity and liabilities
Total equity and liabilities10/49€686,110€747,691€891,847€1.0m€1.2m▲ 21.1%
Equity10/15€167,368€246,642€349,660€580,136€680,765▲ 17.3%
Contributions10/11-€66,000€66,000€66,000€66,000=
Reserves13€82,600€82,600€82,600€82,600€82,600=
Non-distributable reserves130/1-€6,600€6,600---
Reserves not available under the articles1311-€6,600€6,600---
Distributable reserves133-€76,000€76,000€82,600€82,600=
Profit (loss) carried forward14€18,768€98,042€201,060€431,536€532,165▲ 23.3%
Amounts payable17/49€518,742€501,049€542,187€434,900€548,146▲ 26.0%
Amounts payable after more than one year17€136,000€110,000€84,000---
Financial debts170/4-€110,000€84,000---
Amounts payable within one year42/48€382,742€391,049€458,187€434,900€548,146▲ 26.0%
Current portion of amounts payable after more than one year42-€24,000€24,000---
Financial debts43--€152---
Credit institutions430/8--€152---
Trade debts44€287,504€347,456€394,815€279,984€317,612▲ 13.4%
Suppliers440/4-€347,456€394,815€279,984€317,612▲ 13.4%
Taxes, remuneration and social security45-€18,611€38,417€154,916€230,534▲ 48.8%
Taxes450/3--€8,607€97,527€135,857▲ 39.3%
Remuneration and social security454/9-€18,611€29,810€57,389€94,677▲ 65.0%
Other amounts payable47/48-€982€803---
Line20202021202220232024Change
Profit (loss) for the period9904€40,179€79,274€103,018€230,476€100,630▼ 56.3%
+ Depreciation and write-downs630€20,870€17,014€25,012€17,762€24,300▲ 36.8%
Operating cash flow (approximation)€61,049€96,288€128,030€248,238€124,930▼ 49.7%
Investment in fixed assets (approximation)--€11,518-€67,776€175,220-€295▼ 100%
Change in cash--€99,040€71,352€305,802-€245,634▼ 180%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
10-02
State Gazette act Restructuring
Permanent representative: Jean-Pierre Mahé · Merger · Accounting effect8 facts ▸
  • Merger, opération assimilée à la fusion par absorption
  • Board composition, Finicoma (sole director)
  • Permanent representative, Jean-Pierre Mahé
  • Board composition, Finicoma (sole director)
  • Permanent representative, Jean-Pierre Mahé
  • Accounting effect, 01-10-2025
  • General meeting, 27-03-2026
  • General meeting, 27-03-2026
2025
17-04
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
30-07
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 91 days late
2023
30-09
Financial Highest result since 2018net €230,476 ▲124%
Operating result €320,442, net result €230,476, both a record.
30-09
Financial Equity above €500,000Eq €580,136 ▲65.9%
6 profitable years in a row build equity to €580,136.
12-07
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
19-08
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-12
Financial Equity above €200,000Eq €246,642 ▲47.4%
4 profitable years in a row build equity to €246,642.
26-08
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
23-08
NBB filing Annual accounts filed
fiscal year 2019 · micro schema · 23 days late
2019
31-12
Financial Equity above €150,000Eq €189,916 ▲56.4%
2 profitable years in a row build equity to €189,916.
12-07
NBB filing Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
27-06
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
05-07
NBB filing Annual accounts filed
fiscal year 2016 · micro schema
2016
17-06
NBB filing Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts

Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Agatha-Berchem
exact location from the address register On OpenStreetMap
Ground area
1,415 m²
Building footprint
556 m²
Volume, LiDAR
4,138 m³
Parcel 21003A0338/00K002, Brussels · tallest building 8.6 m, ±3 floors. Linked by address, not a title deed.
4 companies at this address See who is registered here
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21003A0338/00K002 Brussels 1,415 m² 1 · 555 m² 8.6 m · 3 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Articles of association

Purpose
La société a pour objet tant en Belgique qu'à l'étranger, pour compte propre ou pour compte de tiers: Le commerce de matériel médical (matériel de stomie, sondes, matériel…
Full purpose

La société a pour objet tant en Belgique qu'à l'étranger, pour compte propre ou pour compte de tiers: Le commerce de matériel médical (matériel de stomie, sondes, matériel d'incontinence, de prothèses mammaires, etc.); Le commerce de bandages et d'articles d'orthopédie, de prothèses et d'instruments médicaux, de voiturettes pour invalides et d'articles de sport; A ces fins, elle pourra faire toutes opérations commerciales, financières, industrielles ou mobilières se rattachant directement ou indirectement, même accessoirement, à son objet social principal ou pouvant en amener le développement ou en faciliter la réalisation. La société a également pour objet: -toutes les opérations relatives aux biens immobiliers et aux droits immobiliers, tels que l'achat et la vente, la construction, la rénovation, l'aménagement et la décoration d'intérieur, la location ou la prise en location, l'échange, le lotissement et, en général, toutes les opérations qui sont liées directement ou indirectement à la gestion ou à l'exploitation de biens immobiliers ou de droits réels immobiliers; -faire des emprunts et consentir des prêts, crédits, financements exclusivement en son nom propre et pour son propre compte. La société peut donner caution tant pour ses propres engagements que pour les engagements de tiers, entre autres en donnant ses biens en hypothèque ou en gage, y compris son propre fonds de commerce. Elle pourra également s'intéresser par voie d'apport, de fusion ou de toute autre manière, à toute entreprises ou sociétés ayant un objet similaire, analogue ou connexe au sien, de nature à développer ou faciliter la réalisation de son objet social. Elle peut prendre part à l'administration d'autres sociétés.

Structure & network

Part of the group FINICOMA 24 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. Ovalie Développement 2FR 100%
  2. FINICOMA 100%
  3. Eqwal DMS

Highest known parent: Ovalie Développement 2 (France). The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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

1 transaction
Taken over by:Eqwal NHC
BE 0537.707.424operation treated as a merger by absorption · proposal · State Gazette act of 11-02-2026 (2 acts)

Similar companies · same sector, comparable size

Of 1,071 companies in sector 47741 we hold annual accounts for 645. 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
Founded20-08-2012
Fiscal year end30-09
Activities, NACEBEL 2025
32500Manufacture of medical and dental instruments and supplies
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
E-invoicing
Reachable via Peppol
Peppol ID 0208:0848094556
Registered 15-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.