GOWAT
ActiveSummary
The computed 12-month bankruptcy probability of GOWAT is 2.3% (moderate). The 2025 annual accounts show equity of €46,298 and a net result of €9,900. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 28374 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-1
Solvency41▲+4
Growth78=
Track record94
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 1.95 against 1.58 in 2024; short-term debt: 31.9% and cash: 13.9% of total assets), but 83.9% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
16.1%
Return on assets
3.5%
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 19% of 28374 sector peers (2025).
NBB · sector comparisonPosition among 28374 sector peers
Solvency
better than 19%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €46,298
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
64 d late
2022
26 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 36 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€46,318
EBIT margin
14.0%
Net result
€9,900▼ 23.2%
2024 · €12,893
Working capital
€86,792▲ 41.6%
2024 · €61,301
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€46,318-
Operating result€6,470--€12,145€11,930€16,853▲ 41.3%€13,714▼ 18.6%
Net result€6,392within the sector's middle half--€14,105below the sector's middle half€13,218within the sector's middle half€12,893within the sector's middle half▼ 2.5%€9,900within the sector's middle half▼ 23.2%
EBIT margin14.0%-
Equity€8,392below the sector's middle half--€5,713below the sector's middle half€7,505below the sector's middle half€36,397within the sector's middle half▲ 385%€46,298within the sector's middle half▲ 27.2%
Total assets€8,578below the sector's middle half-€55,357below the sector's middle half▲ 545%€520,363above the sector's middle half▲ 840%€294,428within the sector's middle half▼ 43.4%€286,943within the sector's middle half▼ 2.5%
Debt€187-€61,071▲ 32,618%€375,899▲ 516%€123,982▼ 67.0%€111,467▼ 10.1%
Working capital€7,392within the sector's middle half--€9,570below the sector's middle half€235,439above the sector's middle half€61,301within the sector's middle half▼ 74.0%€86,792within the sector's middle half▲ 41.6%
Solvency97.8%above the sector's middle half--10.3%below the sector's middle half▼ 108.1pp1.4%below the sector's middle half▲ 11.8pp12.4%below the sector's middle half▲ 10.9pp16.1%below the sector's middle half▲ 3.8pp
Current ratio40.60above the sector's middle half-0.84below the sector's middle half▼ 39.762.22within the sector's middle half▲ 1.381.58within the sector's middle half▼ 0.641.95within the sector's middle half▲ 0.37
Return on assets (ROA)74.5%above the sector's middle half--25.5%below the sector's middle half▼ 100.0pp2.5%within the sector's middle half▲ 28.0pp4.4%within the sector's middle half▲ 1.8pp3.5%within the sector's middle half▼ 0.9pp
Staff (FTE)0.1
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 19% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €286,943
Fixed assets
€108,684 ▼ 15.1%
Current assets
€178,259 ▲ 7.1%
Equity and liabilities €286,943
Equity
€46,298 ▲ 27.2%
Provisions
€129,178 ▼ 3.6%
Debt
€111,467 ▼ 10.1%
Debt's share of the balance-sheet total falls from 42.1% to 38.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,005▼
2024 · €35,617
Cash flow
€29,192▼
2024 · €31,657
Debt to equity
2.41▼
2024 · 3.41
ROE
21.4%▼
2024 · 35.4%
Interest coverage
218.58▲
2024 · 141.13
Debt ≤ 1 year
€91,467▼
2024 · €105,151
Income taxes
€3,663▼
2024 · €3,709
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,275 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.5%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.3% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.8% |
| 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 3,275 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €46,318 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €39,200 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | €1,010 | €5,831 | €2,694 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €500 | €2,144 | €8,438 | €18,764 | €19,292 | ▲ 2.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €136,960 | €10,785 | €9,904 | ▼ 8.2% |
| Other operating charges640/8 | €148 | €611 | €695 | €551 | €340 | ▼ 38.4% |
| Gross operating margin9900 | €7,118 | -€8,380 | €163,853 | €49,646 | €43,249 | ▼ 12.9% |
| Operating profit (loss)9901 | €6,470 | -€12,145 | €11,930 | €16,853 | €13,714 | ▼ 18.6% |
| Financial income75/76B | - | - | €2,520 | €0 | €1 | ▲ 146% |
| Recurring financial income75 | - | - | €2,520 | €0 | €1 | ▲ 146% |
| Financial charges65/66B | €79 | €220 | €593 | €252 | €151 | ▼ 40.2% |
| Recurring financial charges65 | €79 | €220 | €593 | €252 | €151 | ▼ 40.2% |
| Profit (loss) for the period before taxes9903 | €6,392 | -€12,365 | €13,856 | €16,601 | €13,564 | ▼ 18.3% |
| Income taxes67/77 | - | €1,740 | €638 | €3,709 | €3,663 | ▼ 1.2% |
| Profit (loss) for the period9904 | €6,392 | -€14,105 | €13,218 | €12,893 | €9,900 | ▼ 23.2% |
| Profit (loss) for the period to be appropriated9905 | €6,392 | -€14,105 | €13,218 | €12,893 | €9,900 | ▼ 23.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,578 | €55,357 | €520,363 | €294,428 | €286,943 | ▼ 2.5% |
| Fixed assets21/28 | €1,000 | €3,856 | €91,911 | €127,976 | €108,684 | ▼ 15.1% |
| Tangible fixed assets22/27 | €1,000 | €3,856 | €91,911 | €111,976 | €92,684 | ▼ 17.2% |
| Plant, machinery and equipment23 | - | - | €6,882 | €4,284 | €1,685 | ▼ 60.7% |
| Furniture and vehicles24 | €1,000 | €3,856 | €6,297 | €14,786 | €8,667 | ▼ 41.4% |
| Other tangible fixed assets26 | - | - | €78,731 | €92,906 | €82,332 | ▼ 11.4% |
| Financial fixed assets28 | - | - | - | €16,000 | €16,000 | = |
| Current assets29/58 | €7,578 | €51,501 | €428,453 | €166,452 | €178,259 | ▲ 7.1% |
| Amounts receivable within one year40/41 | €3,360 | €40,133 | €188,008 | €135,392 | €136,538 | ▲ 0.8% |
| Trade receivables40 | €1,875 | €29,540 | €171,679 | €126,433 | €132,272 | ▲ 4.6% |
| Other amounts receivable41 | €1,486 | €10,594 | €16,329 | €8,959 | €4,266 | ▼ 52.4% |
| Cash at bank and in hand54/58 | €4,218 | €11,368 | €213,980 | €30,272 | €39,893 | ▲ 31.8% |
| Deferred charges and accrued income490/1 | - | - | €26,464 | €789 | €1,829 | ▲ 132% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,578 | €55,357 | €520,363 | €294,428 | €286,943 | ▼ 2.5% |
| Equity10/15 | €8,392 | -€5,713 | €7,505 | €36,397 | €46,298 | ▲ 27.2% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €18,000 | €18,000 | = |
| Outside capital11 | €2,000 | - | - | - | - | - |
| Other1109/19 | €2,000 | - | - | - | - | - |
| Profit (loss) carried forward14 | €6,392 | -€7,713 | €5,505 | €18,397 | €28,298 | ▲ 53.8% |
| Provisions and deferred taxes16 | - | - | €136,960 | €134,049 | €129,178 | ▼ 3.6% |
| Provisions for liabilities and charges160/5 | - | - | €136,960 | €134,049 | €129,178 | ▼ 3.6% |
| Environmental obligations163 | - | - | €136,960 | €134,049 | €129,178 | ▼ 3.6% |
| Amounts payable17/49 | €187 | €61,071 | €375,899 | €123,982 | €111,467 | ▼ 10.1% |
| Amounts payable within one year42/48 | €187 | €61,071 | €193,013 | €105,151 | €91,467 | ▼ 13.0% |
| Trade debts44 | €187 | €33,197 | €190,408 | €93,567 | €80,744 | ▼ 13.7% |
| Suppliers440/4 | €187 | €33,197 | €190,408 | €93,567 | €80,744 | ▼ 13.7% |
| Advances received on contracts in progress46 | - | €5,520 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €354 | €638 | €9,487 | €8,627 | ▼ 9.1% |
| Taxes450/3 | - | €354 | €638 | €9,487 | €8,627 | ▼ 9.1% |
| Other amounts payable47/48 | - | €22,000 | €1,968 | €2,097 | €2,097 | = |
| Accrued charges and deferred income492/3 | - | - | €182,885 | €18,831 | €20,000 | ▲ 6.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,392 | -€14,105 | €13,218 | €12,893 | €9,900 | ▼ 23.2% |
| + Depreciation and write-downs630 | €500 | €2,144 | €8,438 | €18,764 | €19,292 | ▲ 2.8% |
| Operating cash flow (approximation) | €6,892 | -€11,961 | €21,656 | €31,657 | €29,192 | ▼ 7.8% |
| Investment in fixed assets (approximation) | - | -€5,000 | -€96,492 | -€54,829 | €0 | ▲ 100% |
| Change in cash | - | €7,150 | €202,612 | -€183,709 | €9,621 | ▲ 105% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 64 days late
2023
31-12
Financial
Back to profitnet €13,218
Net result €13,218 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.22
Current ratio from 0.84 to 2.22.
26-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
31-12
Financial
Weakest financial yearnet -€14,105
Net result drops to -€14,105, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Genappe · 1 establishment unit since 2021
Ground area
1,570 m²
Building footprint
56 m²
Parcel 25031A0076/00D000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GOWAT
since 20212.315.582.614
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25031A0076/00D000 | Wallonia | 1,570 m² | 1 · 56 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
- GOWAT ENERGYFRsubsidiarySourceown accounts 202580%
According to the 2025 annual accounts of GOWAT 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.
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Of 22,818 companies in sector 43211 we hold annual accounts for 10,336. 8,510 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
Founded12-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
28250Manufacture of machinery and equipment not elsewhere classified
42220Construction of utility projects for electricity and telecommunications
43212Electrical installation work in industrial facilities
43222Installation of electric heating, air conditioning, cooling and ventilation
43240Other construction installation
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0763546584
Also
9925:BE0763546584
Registered
28-11-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.