HwaS
ActiveSummary
The computed 12-month bankruptcy probability of HwaS is 2.2% (moderate). The 2025 annual accounts show equity of €14k and a net result of €203k. Equity is growing by ~58.2% per year across the filed fiscal years. Its solvency ranks better than 13% of 27965 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency33▲+33
Growth78▲+46
Track record82
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.08 against 0.25 in 2024; short-term debt: 92.3% and cash: 69.8% of total assets), and 92.3% 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
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established 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 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
7.7%
Return on assets
114.1%
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 13% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 13%
← 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 26-07-2026, 5 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
5 d early
2024
61 d late
2023
61 d late
← before the deadline
after the deadline →
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
25-09-2026 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 Hiring this company for building work? Recognition, activities and what to check first.Contractor check Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, micro schema
Equity
€14k
2024 · €-189k
Total assets
€178k▲ 182%
2024 · €63k
Net result
€203k
2024 · €-187k
Working capital
€14k
2024 · €-189k
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
Line202320242025
Operating result€-5k-€-187k▼ 3,464%€210k
Net result€-5k-€-187k▼ 3,457%€203k
Equity€-2k-€-189k▼ 8,304%€14k
Total assets€50k-€63k▲ 24.8%€178k▲ 182%
Debt€53k-€252k▲ 378%€164k▼ 34.9%
Working capital€-2k-€-189k▼ 8,304%€14k
Staff (FTE)8.32.4▼ 71.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €210k after a loss of €187k in 2024, the highest result in the available series.
Balance-sheet composition
Assets €178k
Fixed assets
€100
Current assets
€177k
Equity and liabilities €178k
Equity
€14k
Debt
€164k
Debt finances 92.3% of the balance-sheet total.
Key figures and ratios
Current ratio
1.08▲
2024 · 0.25
Debt to equity
11.95▲
2024 · -1.33
ROA
114.1%▲
2024 · -296.5%
Debt ≤ 1 year
€164k▼
2024 · €252k
Income taxes
€6k
Staff costs
€168k▼
2024 · €521k
A ratio outside any meaningful range has been withheld (balance sheet total €178k, equity €14k).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €521k | €168k | ▼ 67.7% |
| Other operating charges640/8 | - | €118 | €1k | ▲ 1,105% |
| Gross operating margin9900 | €-5k | €334k | €379k | ▲ 13.4% |
| Operating profit (loss)9901 | €-5k | €-187k | €210k | ▲ 212% |
| Financial charges65/66B | €14 | €100 | €921 | ▲ 822% |
| Recurring financial charges65 | €14 | €100 | €921 | ▲ 822% |
| Profit (loss) for the period before taxes9903 | €-5k | €-187k | €209k | ▲ 212% |
| Income taxes67/77 | - | - | €6k | - |
| Profit (loss) for the period9904 | €-5k | €-187k | €203k | ▲ 209% |
| Profit (loss) for the period to be appropriated9905 | €-5k | €-187k | €203k | ▲ 209% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €50k | €63k | €178k | ▲ 182% |
| Fixed assets21/28 | - | - | €100 | - |
| Financial fixed assets28 | - | - | €100 | - |
| Current assets29/58 | €50k | €63k | €177k | ▲ 182% |
| Amounts receivable within one year40/41 | €4k | €37k | €53k | ▲ 43.1% |
| Trade receivables40 | €3k | €35k | €52k | ▲ 50.3% |
| Other amounts receivable41 | €470 | €2k | €883 | ▼ 62.6% |
| Cash at bank and in hand54/58 | €47k | €26k | €124k | ▲ 380% |
| Deferred charges and accrued income490/1 | - | - | €416 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €50k | €63k | €178k | ▲ 182% |
| Equity10/15 | €-2k | €-189k | €14k | ▲ 107% |
| Contributions10/11 | €3k | €3k | €3k | = |
| Reserves13 | - | - | €11k | - |
| Distributable reserves133 | - | - | €11k | - |
| Profit (loss) carried forward14 | €-5k | €-192k | €0 | ▲ 100% |
| Amounts payable17/49 | €53k | €252k | €164k | ▼ 34.9% |
| Amounts payable within one year42/48 | €53k | €252k | €164k | ▼ 34.9% |
| Trade debts44 | €6k | €178k | €664 | ▼ 99.6% |
| Suppliers440/4 | €6k | €178k | €664 | ▼ 99.6% |
| Taxes, remuneration and social security45 | - | €4k | €15k | ▲ 237% |
| Taxes450/3 | - | - | €8k | - |
| Remuneration and social security454/9 | - | €4k | €6k | ▲ 50.1% |
| Other amounts payable47/48 | €47k | €70k | €149k | ▲ 113% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €-187k | €203k | ▲ 209% |
| Operating cash flow (approximation) | €-5k | €-187k | €203k | ▲ 209% |
| Change in cash | - | €-21k | €98k | ▲ 573% |
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
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €203k
Net result €203k after 2 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 1.08
Current ratio from 0.25 to 1.08; short-term debt falls from €252k to €164k.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-187k
Net result drops to €-187k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 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, Antwerpen · 1 establishment unit since 2023
Ground area
858 m²
Building footprint
296 m²
Volume, LiDAR
3,650 m³
Parcel 11806F1249/00G005, Flanders · tallest building 20.4 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HwaS
since 20232.352.700.059
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11806F1249/00G005 | Flanders | 858 m² | 1 · 296 m² | 20.4 m · 6 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.
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Of 4,094 companies in sector 43240 we hold annual accounts for 1,634. 1,011 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
Founded16-11-2023
Fiscal year end31-12
Activities, NACEBEL 2025
43240Other construction installation
43341Painting of buildings
Scores and ratios are computed by Checked and are not a credit decision.