Ets Wathelet
ActiveSummary
Ets Wathelet has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €174,149 and a net result of -€44,948. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 31% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▲+14
Solvency51▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.27 in 2024; short-term debt: 74.2% and cash: 0.2% of total assets), and 74.2% 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
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€44,948
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
13 d early
2023
57 d early
2022
41 d early
2021
4 d early
2020
58 d early
2019
36 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 30 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)
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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€44,948▲ 30.9%
2024 · -€65,016
Working capital
€86,506▼ 34.2%
2024 · €131,454
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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
Line20212022202320242025
Operating result€35,067▲ 102%€49,472▲ 41.1%€17,907▼ 63.8%-€48,754-€29,047▲ 40.4%
Net result€13,157within the sector's middle half▲ 3,076%€25,935within the sector's middle half▲ 97.1%-€4,855below the sector's middle half-€65,016below the sector's middle half▼ 1,239%-€44,948below the sector's middle half▲ 30.9%
Equity€263,033within the sector's middle half▲ 5.3%€288,968within the sector's middle half▲ 9.9%€284,113within the sector's middle half▼ 1.7%€219,097below the sector's middle half▼ 22.9%€174,149within the sector's middle half▼ 20.5%
Total assets€720,064below the sector's middle half▲ 4.1%€730,868below the sector's middle half▲ 1.5%€716,215below the sector's middle half▼ 2.0%€708,237below the sector's middle half▼ 1.1%€673,890within the sector's middle half▼ 4.8%
Debt€457,031▲ 3.4%€441,900▼ 3.3%€432,103▼ 2.2%€489,140▲ 13.2%€499,742▲ 2.2%
Working capital€167,053▲ 11.6%€197,155▲ 18.0%€196,470▼ 0.3%€131,454▼ 33.1%€86,506▼ 34.2%
Solvency36.5%within the sector's middle half▲ 0.4pp39.5%within the sector's middle half▲ 3.0pp39.7%within the sector's middle half▲ 0.1pp30.9%within the sector's middle half▼ 8.7pp25.8%within the sector's middle half▼ 5.1pp
Staff (FTE)2.1below the sector's middle half▲ 10.5%2below the sector's middle half▼ 4.8%2below the sector's middle half=2below the sector's middle half=2within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €29,047 in 2025 against €48,754 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €673,890
Fixed assets
€87,643 =
Current assets
€586,247 ▼ 5.5%
Equity and liabilities €673,890
Equity
€174,149 ▼ 20.5%
Debt
€499,742 ▲ 2.2%
Debt's share of the balance-sheet total rises from 69.1% to 74.2%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.17▼
2024 · 1.27
Quick ratio
0.32▼
2024 · 0.35
Debt to equity
2.87▲
2024 · 2.23
ROE
-25.8%▲
2024 · -29.7%
ROA
-6.7%▲
2024 · -9.2%
Debt ≤ 1 year
€499,742▲
2024 · €489,140
Income taxes
€1,456▲
2024 · €1,399
Staff costs
€99,662▲
2024 · €98,776
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,448 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 2,448 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €3,658 | €3,322 | ▼ 9.2% |
| Remuneration, social security and pensions62 | €89,622 | €93,217 | €100,506 | €98,776 | €99,662 | ▲ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,168 | €4,168 | €4,170 | €0 | - | - |
| Other operating charges640/8 | €48,658 | €25,335 | €34,376 | €11,645 | €22,643 | ▲ 94.4% |
| Gross operating margin9900 | €177,514 | €172,192 | €156,959 | €61,667 | €93,258 | ▲ 51.2% |
| Operating profit (loss)9901 | €35,067 | €49,472 | €17,907 | -€48,754 | -€29,047 | ▲ 40.4% |
| Financial income75/76B | €1,647 | €3,315 | €4,681 | €2,621 | €622 | ▼ 76.3% |
| Recurring financial income75 | €1,647 | €3,315 | €4,681 | €2,621 | €622 | ▼ 76.3% |
| Financial charges65/66B | €14,110 | €15,178 | €16,373 | €17,485 | €15,067 | ▼ 13.8% |
| Recurring financial charges65 | €14,110 | €15,178 | €16,373 | €17,485 | €15,067 | ▼ 13.8% |
| Profit (loss) for the period before taxes9903 | €22,603 | €37,609 | €6,215 | -€63,617 | -€43,492 | ▲ 31.6% |
| Income taxes67/77 | €9,447 | €11,674 | €11,070 | €1,399 | €1,456 | ▲ 4.1% |
| Profit (loss) for the period9904 | €13,157 | €25,935 | -€4,855 | -€65,016 | -€44,948 | ▲ 30.9% |
| Profit (loss) for the period to be appropriated9905 | €13,157 | €25,935 | -€4,855 | -€65,016 | -€44,948 | ▲ 30.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €720,064 | €730,868 | €716,215 | €708,237 | €673,890 | ▼ 4.8% |
| Fixed assets21/28 | €95,980 | €91,813 | €87,643 | €87,643 | €87,643 | = |
| Tangible fixed assets22/27 | €95,699 | €91,531 | €87,362 | €87,362 | €87,362 | = |
| Land and buildings22 | €93,362 | €90,362 | €87,362 | €87,362 | €87,362 | = |
| Furniture and vehicles24 | €2,337 | €1,170 | €0 | - | - | - |
| Financial fixed assets28 | €281 | €281 | €281 | €281 | €281 | = |
| Current assets29/58 | €624,084 | €639,055 | €628,572 | €620,594 | €586,247 | ▼ 5.5% |
| Stocks and contracts in progress3 | €380,802 | €410,306 | €442,498 | €451,448 | €428,394 | ▼ 5.1% |
| Stocks30/36 | €380,802 | €410,306 | €442,498 | €451,448 | €428,394 | ▼ 5.1% |
| Amounts receivable within one year40/41 | €230,074 | €209,624 | €172,218 | €156,417 | €151,851 | ▼ 2.9% |
| Trade receivables40 | €230,074 | €208,613 | €169,952 | €154,150 | €149,585 | ▼ 3.0% |
| Other amounts receivable41 | €0 | €1,010 | €2,266 | €2,266 | €2,266 | = |
| Cash at bank and in hand54/58 | €7,114 | €9,905 | €4,545 | €3,535 | €1,198 | ▼ 66.1% |
| Deferred charges and accrued income490/1 | €6,095 | €9,220 | €9,311 | €9,194 | €4,804 | ▼ 47.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €720,064 | €730,868 | €716,215 | €708,237 | €673,890 | ▼ 4.8% |
| Equity10/15 | €263,033 | €288,968 | €284,113 | €219,097 | €174,149 | ▼ 20.5% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €311,177 | €311,177 | €311,177 | €311,177 | €311,177 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | €9,897 | €9,897 | €9,897 | €9,897 | €9,897 | = |
| Distributable reserves133 | €299,421 | €299,421 | €299,421 | €299,421 | €299,421 | = |
| Profit (loss) carried forward14 | -€66,736 | -€40,801 | -€45,656 | -€110,672 | -€155,620 | ▼ 40.6% |
| Amounts payable17/49 | €457,031 | €441,900 | €432,103 | €489,140 | €499,742 | ▲ 2.2% |
| Amounts payable within one year42/48 | €457,031 | €441,900 | €432,103 | €489,140 | €499,742 | ▲ 2.2% |
| Current portion of amounts payable after more than one year42 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Financial debts43 | €29,631 | €32,506 | €44,122 | €46,992 | €44,354 | ▼ 5.6% |
| Credit institutions430/8 | €29,631 | €32,506 | €44,122 | €46,992 | €44,354 | ▼ 5.6% |
| Trade debts44 | €211,823 | €194,525 | €174,023 | €213,967 | €183,393 | ▼ 14.3% |
| Suppliers440/4 | €211,823 | €194,525 | €174,023 | €213,967 | €183,393 | ▼ 14.3% |
| Taxes, remuneration and social security45 | €46,160 | €47,490 | €41,551 | €30,633 | €41,108 | ▲ 34.2% |
| Taxes450/3 | €38,719 | €39,807 | €33,038 | €21,992 | €29,447 | ▲ 33.9% |
| Remuneration and social security454/9 | €7,441 | €7,684 | €8,514 | €8,641 | €11,661 | ▲ 35.0% |
| Other amounts payable47/48 | €44,417 | €42,378 | €47,406 | €72,548 | €105,887 | ▲ 46.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,157 | €25,935 | -€4,855 | -€65,016 | -€44,948 | ▲ 30.9% |
| + Depreciation and write-downs630 | €4,168 | €4,168 | €4,170 | €0 | - | - |
| Operating cash flow (approximation) | €17,324 | €30,102 | -€685 | -€65,016 | -€44,948 | ▲ 30.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2,791 | -€5,360 | -€1,010 | -€2,337 | ▼ 131% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€65,016
Net result drops to -€65,016, the lowest in the series; recovery starts the following year.
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €25,935 ▲97.1%
Operating result €49,472, net result €25,935, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €414
Net result €414 after 2 loss-making years.
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Sambreville · 1 establishment unit since 1949
Ground area
115 m²
Building footprint
134 m²
Parcel 92129F0164/00S013, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue du Wainage(KEU) 92, 5060 Sambreville
since 19492.003.480.461
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92129F0164/00S013 | Wallonia | 115 m² | 1 · 134 m² | - |
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.
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Of 855 companies in sector 46832 we hold annual accounts for 588. 385 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
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
46832Wholesale of timber
E-invoicing
Reachable via Peppol
Peppol ID
0208:0402580583
Also
9925:BE0402580583
Registered
30-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.