EWG
ActiveSummary
EWG has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€53,746) and a net result of €37,236. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 9% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▲+41
Solvency24=
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.08 in 2024; short-term debt: 30.7% and cash: 0.1% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-0.6%
Return on assets
0.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 3221 sector peers (2025).
NBB · sector comparisonPosition among 3221 sector peers
Solvency
better than 9%
← weakest
strongest →
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 23-07-2026, 8 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
8 d early
2024
38 d early
2023
65 d late
2022
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 12 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror Which other companies belong to the same group?COCOCINEL · 13 companies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€781,747
EBIT margin
5.9%
Net result
€37,236
2024 · -€6,156
Working capital
-€2.5m▲ 0.8%
2024 · -€2.5m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Turnover€781,747
Operating result€87,354-€7,020▼ 92.0%-€422€46,081
Net result-€109,669-€4,843-€6,156€37,236
EBIT margin5.9%
Equity-€89,669--€84,826▲ 5.4%-€90,982▼ 7.3%-€53,746▲ 40.9%
Total assets€6.8m-€6.7m▼ 1.6%€9.3m▲ 38.4%€9.4m▲ 1.8%
Debt€6.9m-€6.8m▼ 1.7%€9.3m▲ 38.0%€9.5m▲ 1.3%
Working capital€106,112--€38,473-€2.5m▼ 6,513%-€2.5m▲ 0.8%
Staff (FTE)2-2=2=2.3▲ 15.0%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €46,081 after a loss of €422 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.4m
Fixed assets
€9.0m ▲ 0.2%
Current assets
€369,034 ▲ 62.7%
Key figures and ratios
EBITDA
€48,492▲
2024 · -€164
Cash flow
€39,647▲
2024 · -€5,898
Solvency
-0.6%▲
2024 · -1.0%
Current ratio
0.13▲
2024 · 0.08
Quick ratio
0.12▲
2024 · 0.08
ROA
0.4%▲
2024 · -0.1%
Interest coverage
5.84▲
2024 · -0.02
Debt ≤ 1 year
€2.9m▲
2024 · €2.8m
Debt > 1 year
€6.5m=
2024 · €6.5m
Income taxes
€352▼
2024 · €435
Staff costs
€218,709▲
2024 · €185,595
A ratio outside any meaningful range has been withheld (balance sheet total €9.4m, equity -€53,746).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €796,801 | - |
| Turnover70 | - | - | - | €781,747 | - |
| Other operating income74 | - | - | - | €15,055 | - |
| Non-recurring operating income76A | - | €148,165 | €0 | - | - |
| Operating charges60/66A | - | - | - | €750,720 | - |
| Goods for resale, raw materials and consumables60 | - | - | - | -€3,405 | - |
| Change in stocks: decrease (increase)609 | - | - | - | -€3,405 | - |
| Services and other goods61 | - | - | - | €519,760 | - |
| Remuneration, social security and pensions62 | €178,580 | €188,017 | €185,595 | €218,709 | ▲ 17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,592 | €140 | €257 | €2,411 | ▲ 837% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €3,354 | €0 | ▼ 100% |
| Other operating charges640/8 | €498 | €282 | €1,183 | €13,246 | ▲ 1,020% |
| Gross operating margin9900 | €268,023 | €195,459 | €189,967 | - | - |
| Operating profit (loss)9901 | €87,354 | €7,020 | -€422 | €46,081 | ▲ 11,030% |
| Financial income75/76B | - | €1 | €1,345 | €37 | ▼ 97.2% |
| Recurring financial income75 | - | €1 | €1,345 | €37 | ▼ 97.2% |
| Other financial income752/9 | - | - | - | €37 | - |
| Financial charges65/66B | €196,464 | €1,653 | €6,644 | €8,530 | ▲ 28.4% |
| Recurring financial charges65 | €196,464 | €1,653 | €6,644 | €8,530 | ▲ 28.4% |
| Debt charges650 | - | - | - | €8,298 | - |
| Other financial charges652/9 | - | - | - | €233 | - |
| Profit (loss) for the period before taxes9903 | -€109,109 | €5,368 | -€5,721 | €37,588 | ▲ 757% |
| Income taxes67/77 | €559 | €525 | €435 | €352 | ▼ 19.1% |
| Taxes670/3 | - | - | - | €352 | - |
| Profit (loss) for the period9904 | -€109,669 | €4,843 | -€6,156 | €37,236 | ▲ 705% |
| Profit (loss) for the period to be appropriated9905 | -€109,669 | €4,843 | -€6,156 | €37,236 | ▲ 705% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €6.8m | €6.7m | €9.3m | €9.4m | ▲ 1.8% |
| Fixed assets21/28 | €6.5m | €6.5m | €9.0m | €9.0m | ▲ 0.2% |
| Intangible fixed assets21 | - | - | - | €20,420 | - |
| Tangible fixed assets22/27 | - | €1,263 | €1,005 | €725 | ▼ 27.9% |
| Furniture and vehicles24 | - | €1,263 | €1,005 | €725 | ▼ 27.9% |
| Financial fixed assets28 | €6.5m | €6.5m | €9.0m | €9.0m | = |
| Affiliated companies280/1 | - | - | - | €9.0m | - |
| Participating interests280 | - | - | - | €9.0m | - |
| Current assets29/58 | €269,854 | €157,925 | €226,885 | €369,034 | ▲ 62.7% |
| Stocks and contracts in progress3 | €12,452 | €5,558 | €5,364 | €8,769 | ▲ 63.5% |
| Stocks30/36 | €12,452 | €5,558 | €5,364 | €8,769 | ▲ 63.5% |
| Goods purchased for resale34 | - | - | - | €8,769 | - |
| Amounts receivable within one year40/41 | €240,965 | €131,641 | €148,369 | €304,014 | ▲ 105% |
| Trade receivables40 | €219,251 | €54,797 | €68,003 | €163,601 | ▲ 141% |
| Other amounts receivable41 | €21,713 | €76,844 | €80,366 | €140,412 | ▲ 74.7% |
| Cash at bank and in hand54/58 | €4,529 | €10,647 | €29,683 | €10,141 | ▼ 65.8% |
| Deferred charges and accrued income490/1 | €11,909 | €10,079 | €43,468 | €46,110 | ▲ 6.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €6.8m | €6.7m | €9.3m | €9.4m | ▲ 1.8% |
| Equity10/15 | -€89,669 | -€84,826 | -€90,982 | -€53,746 | ▲ 40.9% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€109,669 | -€104,826 | -€110,982 | -€73,746 | ▲ 33.6% |
| Amounts payable17/49 | €6.9m | €6.8m | €9.3m | €9.5m | ▲ 1.3% |
| Amounts payable after more than one year17 | €6.5m | €6.5m | €6.5m | €6.5m | = |
| Financial debts170/4 | €6.5m | €6.5m | €6.5m | €6.5m | = |
| Subordinated loans170 | - | - | - | €6.5m | - |
| Amounts payable within one year42/48 | €163,742 | €196,398 | €2.8m | €2.9m | ▲ 4.4% |
| Current portion of amounts payable after more than one year42 | - | €12,450 | €18,136 | €20,377 | ▲ 12.4% |
| Trade debts44 | €109,678 | €120,987 | €177,443 | €195,728 | ▲ 10.3% |
| Suppliers440/4 | €109,678 | €120,987 | €177,443 | €195,728 | ▲ 10.3% |
| Taxes, remuneration and social security45 | €20,314 | €62,961 | €75,677 | €85,031 | ▲ 12.4% |
| Taxes450/3 | €559 | €19,665 | €41,287 | €36,268 | ▼ 12.2% |
| Remuneration and social security454/9 | €19,755 | €43,296 | €34,390 | €48,763 | ▲ 41.8% |
| Other amounts payable47/48 | €33,750 | €0 | €2.5m | €2.6m | ▲ 3.7% |
| Accrued charges and deferred income492/3 | €195,781 | €47,616 | €47,616 | €50,288 | ▲ 5.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€109,669 | €4,843 | -€6,156 | €37,236 | ▲ 705% |
| + Depreciation and write-downs630 | €1,592 | €140 | €257 | €2,411 | ▲ 837% |
| Operating cash flow (approximation) | -€108,077 | €4,983 | -€5,898 | €39,647 | ▲ 772% |
| Investment in fixed assets (approximation) | - | -€1,403 | -€2.5m | -€22,550 | ▲ 99.1% |
| Change in cash | - | €6,119 | €19,036 | -€19,542 | ▼ 203% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €37,236
Net result €37,236 after one loss-making year.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 65 days late
2023
31-12
Financial
Back to profitnet €4,843
Net result €4,843 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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
Registered office, Lokeren · 1 establishment unit since 2021
Ground area
4.1 ha
Building footprint
2.9 ha
Volume, LiDAR
213,770 m³
Parcel 46383D1240/00W000, Flanders · tallest building 21.8 m, ±2 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
EWG
since 20212.326.018.725
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46383D1240/00W000 | Flanders | 4.1 ha | 1 · 2.9 ha | 21.8 m · 2 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.
Structure & network
Part of the group
COCOCINEL
13 companies
Group, risk and exposure
Owners and holdings
1 owner · 3 holdings · 6 subsidiaries in the treeChain of control
- COCOCINEL
- EWG
Highest known parent: COCOCINEL. The sources do not say who stands above it.
Owners 1
- COCOCINELparentSourceaccounts COCOCINEL 2025100%
Holdings 3
-
100%
-
100%
-
100%
All subsidiaries, including indirect ones 6
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- DM 100%
- ENGELS 100%
EOS 100%3 subsidiaries
- AC WINDOWS 100%
- ENGELS BRUGGE 100%
- SDW Windows 100%
According to the 2025 annual accounts of EWG 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 270 EUR awarded · 270 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 270 EUR |
| 2023 | 1 | 270 EUR | 0 EUR |
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Of 5,712 companies in sector 70100 we hold annual accounts for 3,504. 483 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0779443597
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.