GLAWAV
ActiveSummary
The computed 12-month bankruptcy probability of GLAWAV is 2.1% (moderate). The 2025 annual accounts show negative equity (-€57,657) and a net result of €29,751. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 8% of 10519 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+22
Solvency0=
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 5.74 against 1.99 in 2024; short-term debt: 16.8% and cash: 11.8% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-35.1%
Return on assets
18.1%
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 8% of 10519 sector peers (2025).
NBB · sector comparisonPosition among 10519 sector peers
Solvency
better than 8%
← 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 22-07-2026, 9 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
9 d early
2024
21 d early
2023
6 d early
2022
35 d early
2021
24 d early
2020
15 d early
2019
9 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 17 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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. Usually files around 10 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 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
€29,751▲ 3,869%
2024 · €750
Working capital
€130,950▲ 72.9%
2024 · €75,749
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
Line20212022202320242025
Operating result-€10,742▲ 83.5%€456€14,473▲ 3,075%€3,300▼ 77.2%€39,269▲ 1,090%
Net result€34,603within the sector's middle half€4,180within the sector's middle half▼ 87.9%€9,625within the sector's middle half▲ 130%€750within the sector's middle half▼ 92.2%€29,751within the sector's middle half▲ 3,869%
Equity-€101,962below the sector's middle half▲ 25.3%-€97,783below the sector's middle half▲ 4.1%-€88,158below the sector's middle half▲ 9.8%-€87,408below the sector's middle half▲ 0.9%-€57,657below the sector's middle half▲ 34.0%
Total assets€67,015below the sector's middle half▲ 21.8%€63,302below the sector's middle half▼ 5.5%€71,195below the sector's middle half▲ 12.5%€162,918below the sector's middle half▲ 129%€164,200below the sector's middle half▲ 0.8%
Debt€168,977▼ 11.8%€161,085▼ 4.7%€159,352▼ 1.1%€250,326▲ 57.1%€221,857▼ 11.4%
Working capital-€53,102below the sector's middle half▲ 34.7%-€48,096below the sector's middle half▲ 9.4%-€30,858below the sector's middle half▲ 35.8%€75,749within the sector's middle half€130,950within the sector's middle half▲ 72.9%
Solvency-152.1%below the sector's middle half▲ 96.1pp-154.5%below the sector's middle half▼ 2.3pp-123.8%below the sector's middle half▲ 30.6pp-53.7%below the sector's middle half▲ 70.2pp-35.1%below the sector's middle half▲ 18.5pp
Current ratio0.45below the sector's middle half▲ 0.150.46below the sector's middle half▲ 0.010.64below the sector's middle half▲ 0.181.99within the sector's middle half▲ 1.365.74above the sector's middle half▲ 3.75
Return on assets (ROA)51.6%above the sector's middle half▲ 167.5pp6.6%within the sector's middle half▼ 45.0pp13.5%above the sector's middle half▲ 6.9pp0.5%within the sector's middle half▼ 13.1pp18.1%above the sector's middle half▲ 17.7pp
Staff (FTE)1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1.3below the sector's middle half▲ 30.0%2.5within the sector's middle half▲ 92.3%
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.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,090% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €164,200
Fixed assets
€5,622 ▼ 48.8%
Current assets
€158,578 ▲ 4.4%
Key figures and ratios
EBITDA
€44,631▲
2024 · €9,242
Cash flow
€35,113▲
2024 · €6,692
Quick ratio
5.28▲
2024 · 1.85
Debt to equity
-3.85▼
2024 · -2.86
Interest coverage
3.50▼
2024 · 3.62
Debt ≤ 1 year
€27,628▼
2024 · €76,185
Debt > 1 year
€194,229▲
2024 · €174,140
Staff costs
€136,368▲
2024 · €73,121
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,178 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% 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 497,662 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% | 1.7% |
| 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 75% 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 2,178 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €58,774 | €60,993 | €65,002 | €73,121 | €136,368 | ▲ 86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,580 | €5,630 | €5,942 | €5,942 | €5,362 | ▼ 9.8% |
| Other operating charges640/8 | €2,117 | €1,492 | €1,605 | €1,231 | €2,046 | ▲ 66.2% |
| Gross operating margin9900 | €53,729 | €68,571 | €87,022 | €83,594 | €183,045 | ▲ 119% |
| Operating profit (loss)9901 | -€10,742 | €456 | €14,473 | €3,300 | €39,269 | ▲ 1,090% |
| Financial income75/76B | €71,623 | €8,179 | - | €3 | €3,228 | ▲ 107,492% |
| Recurring financial income75 | €71,623 | €8,179 | - | €3 | €3,228 | ▲ 107,492% |
| Non-recurring financial income76B | €71,623 | €8,179 | - | - | - | - |
| Financial charges65/66B | €26,278 | €4,455 | €4,848 | €2,554 | €12,746 | ▲ 399% |
| Recurring financial charges65 | €4,017 | €4,455 | €4,848 | €2,554 | €12,746 | ▲ 399% |
| Non-recurring financial charges66B | €22,261 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €34,603 | €4,180 | €9,625 | €750 | €29,751 | ▲ 3,869% |
| Profit (loss) for the period9904 | €34,603 | €4,180 | €9,625 | €750 | €29,751 | ▲ 3,869% |
| Profit (loss) for the period to be appropriated9905 | €34,603 | €4,180 | €9,625 | €750 | €29,751 | ▲ 3,869% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €67,015 | €63,302 | €71,195 | €162,918 | €164,200 | ▲ 0.8% |
| Fixed assets21/28 | €23,131 | €22,728 | €16,926 | €10,984 | €5,622 | ▼ 48.8% |
| Intangible fixed assets21 | €6,250 | €5,000 | €3,750 | €2,500 | €1,250 | ▼ 50.0% |
| Tangible fixed assets22/27 | €16,881 | €17,728 | €13,176 | €8,484 | €4,372 | ▼ 48.5% |
| Plant, machinery and equipment23 | €6,386 | €6,671 | €4,289 | €1,908 | €107 | ▼ 94.4% |
| Leasing and similar rights25 | €10,495 | €8,746 | €7,108 | €5,331 | €3,554 | ▼ 33.3% |
| Other tangible fixed assets26 | - | €2,312 | €1,778 | €1,245 | €711 | ▼ 42.9% |
| Current assets29/58 | €43,884 | €40,574 | €54,269 | €151,934 | €158,578 | ▲ 4.4% |
| Amounts receivable after more than one year29 | - | - | - | - | €104,372 | - |
| Trade receivables290 | - | - | - | - | €104,372 | - |
| Stocks and contracts in progress3 | €10,144 | €10,049 | €15,084 | €11,270 | €12,615 | ▲ 11.9% |
| Stocks30/36 | €10,144 | €10,049 | €15,084 | €11,270 | €12,615 | ▲ 11.9% |
| Amounts receivable within one year40/41 | €969 | €11,632 | €5,076 | €45,465 | €15,859 | ▼ 65.1% |
| Trade receivables40 | - | - | - | €719 | - | - |
| Other amounts receivable41 | €969 | €11,632 | €5,076 | €44,747 | €15,859 | ▼ 64.6% |
| Cash at bank and in hand54/58 | €32,772 | €18,893 | €34,109 | €94,657 | €19,407 | ▼ 79.5% |
| Deferred charges and accrued income490/1 | - | - | - | €542 | €6,324 | ▲ 1,068% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €67,015 | €63,302 | €71,195 | €162,918 | €164,200 | ▲ 0.8% |
| Equity10/15 | -€101,962 | -€97,783 | -€88,158 | -€87,408 | -€57,657 | ▲ 34.0% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | -€126,962 | -€122,783 | -€113,158 | -€112,408 | -€82,657 | ▲ 26.5% |
| Amounts payable17/49 | €168,977 | €161,085 | €159,352 | €250,326 | €221,857 | ▼ 11.4% |
| Amounts payable after more than one year17 | €71,991 | €72,415 | €74,226 | €174,140 | €194,229 | ▲ 11.5% |
| Financial debts170/4 | €71,991 | €72,415 | €74,226 | - | - | - |
| Other amounts payable178/9 | - | - | - | €174,140 | €194,229 | ▲ 11.5% |
| Amounts payable within one year42/48 | €96,986 | €88,669 | €85,127 | €76,185 | €27,628 | ▼ 63.7% |
| Current portion of amounts payable after more than one year42 | €4,719 | €1,342 | - | - | - | - |
| Financial debts43 | - | - | - | - | €178 | - |
| Credit institutions430/8 | - | - | - | - | €178 | - |
| Trade debts44 | €85,115 | €78,559 | €76,528 | €65,543 | €12,246 | ▼ 81.3% |
| Suppliers440/4 | €85,115 | €78,559 | €76,528 | €65,543 | €12,246 | ▼ 81.3% |
| Taxes, remuneration and social security45 | €7,152 | €8,769 | €8,599 | €10,642 | €15,203 | ▲ 42.9% |
| Taxes450/3 | - | - | - | €205 | - | - |
| Remuneration and social security454/9 | €7,152 | €8,769 | €8,599 | €10,437 | €15,203 | ▲ 45.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,603 | €4,180 | €9,625 | €750 | €29,751 | ▲ 3,869% |
| + Depreciation and write-downs630 | €3,580 | €5,630 | €5,942 | €5,942 | €5,362 | ▼ 9.8% |
| Operating cash flow (approximation) | €38,182 | €9,809 | €15,567 | €6,692 | €35,113 | ▲ 425% |
| Investment in fixed assets (approximation) | - | -€5,228 | -€140 | €0 | €0 | - |
| Change in cash | - | -€13,879 | €15,217 | €60,548 | -€75,250 | ▼ 224% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity triplescurrent ratio 5.74
Current ratio from 1.99 to 5.74; short-term debt falls from €76,185 to €27,628.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity triplescurrent ratio 1.99
Current ratio from 0.64 to 1.99; short-term debt falls from €85,127 to €76,185.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €34,603
Net result €34,603 after 2 loss-making years.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Wavre · 1 establishment unit since 2019
Ground area
106 m²
Building footprint
41 m²
Volume, LiDAR
391 m³
Parcel 25112M0626/00D000, Wallonia · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GLAWAV
since 20192.287.255.743
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112M0626/00D000 | Wallonia | 106 m² | 1 · 40 m² | 10.6 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.
Structure & network
Owners and holdings
3 ownersChain of control
- ICE CONCEPT GROUP
- GLAWAV
Highest known parent: ICE CONCEPT GROUP. The sources do not say who stands above it.
Owners 3
- ICE CONCEPT GROUPparent100%
- SARL CPMTLUSourceown accounts 202350%
- SARL PPMTLUSourceown accounts 202350%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of GLAWAV 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteWavre2.287.255.743
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,854. 1,750 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
Founded11-03-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
56112Limited-service restaurants, excluding mobile food services
Contact
E-mail
beatrice@capoue.com
Phone
+32497422432
E-invoicing
Reachable via Peppol
Peppol ID
0208:0722599520
Also
9925:BE0722599520
Registered
29-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.