GOODWIN INTERNATIONAL
ActiveGOODWIN INTERNATIONAL has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €263k and a net result of €89k. Equity is shrinking by ~13.5% per year across the filed fiscal years. Its solvency ranks better than 80% of 10252 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
89
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability98▲+18
Solvency93▲+6
Growth56=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23k at 30 days acceptable
Liquidity ample (current ratio 1.87 against 1.33 in 2024; short-term debt: 30% and cash: 56% of total assets), and 31.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
68.5%
Return on assets
23.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
11 d late
2024
14 d late
2023
86 d late
2022
60 d late
2021
4 d early
2020
9 d late
2019
13 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€275k▼ 42.4%
2022 · €478k
2018: €209k
2019: €191k
2020: €182k
2021: €351k
2022: €478k
2018 → 2023
EBIT margin
5.8%▼ 17.5pp
2022 · 23.4%
2018: 39.3%
2019: 42.9%
2020: 10.2%
2021: 21.6%
2022: 23.4%
2018 → 2023
Net result
€89k▲ 248%
2024 · €26k
2018: €-38k
2019: €62k
2020: €4k
2021: €51k
2022: €88k
2023: €10k
2024: €26k
2018 → 2025
Working capital
€100k▲ 344%
2024 · €23k
2018: €401k
2019: €466k
2020: €468k
2021: €565k
2022: €312k
2023: €144k
2024: €23k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€351k-€478k▲ 36.3%€275k▼ 42.4%
Equity€660k-€323k▼ 51.1%€330k▲ 2.3%€174k▼ 47.2%€263k▲ 51.0%
Operating result€76k-€112k▲ 47.6%€16k▼ 85.7%€40k▲ 152%€124k▲ 207%
Net result€51k-€88k▲ 72.0%€10k▼ 88.7%€26k▲ 157%€89k▲ 248%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 207% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €384k
Fixed assets
€169k▼ 12.2%
Current assets
€215k▲ 137%
Equity and liabilities €384k
Equity
€263k▲ 51.0%
Debt
€121k▲ 11.3%
The debt ratio falls from 38.5% to 31.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€148k▲
2024 · €65k
Cash flow
€113k▲
2024 · €50k
Solvency
68.5%▲
2024 · 61.5%
Current ratio
1.87▲
2024 · 1.33
Quick ratio
1.87▲
2024 · 1.33
Debt / equity
0.46▼
2024 · 0.62
ROE
33.8%▲
2024 · 14.6%
ROA
23.1%▲
2024 · 9.0%
Interest coverage
39.82▲
2024 · 14.57
Debt
€121k▲
2024 · €109k
Debt ≤ 1 year
€115k▲
2024 · €68k
Debt > 1 year
€6k▼
2024 · €41k
Income taxes
€32k▲
2024 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€283k€384k▲
Fixed assets21/28€192k€169k▼
Intangible fixed assets21€189k€166k▼
Tangible fixed assets22/27€4k€3k▼
Plant, machinery and equipment23-€0
Furniture and vehicles24€4k€3k▼
Current assets29/58€91k€215k▲
Amounts receivable within one year40/41€9k€6▼
Trade receivables40€9k€0▼
Other amounts receivable41-€6
Cash at bank and in hand54/58€82k€215k▲
Equity and liabilities
Total equity and liabilities10/49€283k€384k▲
Equity10/15€174k€263k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€173k€173k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€105k€105k=
Distributable reserves133€62k€62k=
Profit (loss) carried forward14€-61k€28k▲
Amounts payable17/49€109k€121k▲
Amounts payable after more than one year17€41k€6k▼
Financial debts170/4€41k€6k▼
Amounts payable within one year42/48€68k€115k▲
Current portion of amounts payable after more than one year42€33k€35k▲
Trade debts44€4k€18k▲
Suppliers440/4€4k€18k▲
Taxes, remuneration and social security45€18k€51k▲
Taxes450/3€18k€51k▲
Other amounts payable47/48€13k€11k▼
Income statement
Code20242025
Non-recurring operating income76A-€852
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€24k▼
Other operating charges640/8€28k€14k▼
Gross operating margin9900€93k€162k▲
Operating profit (loss)9901€40k€124k▲
Financial income75/76B€826€266▼
Recurring financial income75€826€266▼
Financial charges65/66B€4k€4k▼
Recurring financial charges65€4k€4k▼
Profit (loss) for the period before taxes9903€37k€121k▲
Income taxes67/77€11k€32k▲
Profit (loss) for the period9904€26k€89k▲
Profit (loss) for the period to be appropriated9905€26k€89k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-61k€28k▲
Profit (loss) brought forward from the previous period14P€-86k€-61k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 11 days late
2025
31-12
Financial
Highest result since 2018net €89k ▲248%
Operating result €124k, net result €89k, both a record.
31-12
Financial
Equity above €200kEq €263k ▲51%
7 profitable years in a row build equity to €263k.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 86 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 60 days late
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 9 days late
2020
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 13 days late
2019
31-12
Financial
Back to profitnet €62k
Net result €62k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Tournai · 2 establishment units since 1976
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Roc Saint-Nicaise(TOU) 747500 TournaiGround area
1,308 m²
Building footprint
625 m²
Volume, LiDAR
5,862 m³
3 parcels, Flanders, Wallonia · tallest building 13.1 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
Rue d'Angleterre 29, 7800 Ath
since 19762.012.530.264
Politiekegevangenenstraat 9, 9600 Ronse
since 19792.012.530.165
3 parcels
Flanders
1
(33.3%)
Wallonia
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51004C0063/00X000 | Wallonia | 875 m² | 1 · 311 m² | 13.1 m · 4 fl. |
| 45422C0135/00E003 | Flanders | 256 m² | 1 · 244 m² | 12.2 m · 3 fl. |
| 57081G0346/00C000 | Wallonia | 177 m² | 1 · 71 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BE 0447.147.234
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MATERIAUX BIENFAIT
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ADA&CO2
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PAINT KNOKKE
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Of 1,722 companies in sector 47521 we hold annual accounts for 1,289. 1,025 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-07-1976
Fiscal year end31-12
Activities, NACEBEL
47521Retail sale of hardware, building materials, paint and glass (general range)
52461
46831Wholesale of construction materials, general range
51532
Sources
Crossroads Bank for EnterprisesNational Bank · 45 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.