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.
Credit check for your own amount and term
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
Financials · fiscal year 2025, micro schema
Equity
€14k
2024 · €-189k
2023: €-2k
2024: €-189k▼ -8304% vs 2023lowest in 3 years
2025: €14k▲ +107% vs 2024highest in 3 years
2023 → 2025
Total assets
€178k▲ 182%
2024 · €63k
2023: €50klowest in 3 years
2024: €63k▲ +24.8% vs 2023
2025: €178k▲ +182% vs 2024highest in 3 years
2023 → 2025
Net result
€203k
2024 · €-187k
2023: €-5k
2024: €-187k▼ -3457% vs 2023lowest in 3 years
2025: €203k▲ +209% vs 2024highest in 3 years
2023 → 2025
Working capital
€14k
2024 · €-189k
2023: €-2k
2024: €-189k▼ -8304% vs 2023lowest in 3 years
2025: €14k▲ +107% vs 2024highest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€-2k-€-189k▼ 8,304%€14k
2023: €-2k
2024: €-189k▼ -8304% vs 2023lowest in 3 years
2025: €14k▲ +107% vs 2024highest in 3 years
Operating result€-5k-€-187k▼ 3,464%€210k
2023: €-5k
2024: €-187k▼ -3464% vs 2023lowest in 3 years
2025: €210k▲ +212% vs 2024highest in 3 years
Net result€-5k-€-187k▼ 3,457%€203k
2023: €-5k
2024: €-187k▼ -3457% vs 2023lowest in 3 years
2025: €203k▲ +209% vs 2024highest in 3 years
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.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€63k€178k▲
Fixed assets21/28-€100
Financial fixed assets28-€100
Current assets29/58€63k€177k▲
Amounts receivable within one year40/41€37k€53k▲
Trade receivables40€35k€52k▲
Other amounts receivable41€2k€883▼
Cash at bank and in hand54/58€26k€124k▲
Deferred charges and accrued income490/1-€416
Equity and liabilities
Total equity and liabilities10/49€63k€178k▲
Equity10/15€-189k€14k▲
Contributions10/11€3k€3k=
Reserves13-€11k
Distributable reserves133-€11k
Profit (loss) carried forward14€-192k€0▲
Amounts payable17/49€252k€164k▼
Amounts payable within one year42/48€252k€164k▼
Trade debts44€178k€664▼
Suppliers440/4€178k€664▼
Taxes, remuneration and social security45€4k€15k▲
Taxes450/3-€8k
Remuneration and social security454/9€4k€6k▲
Other amounts payable47/48€70k€149k▲
Income statement
Code20242025
Remuneration, social security and pensions62€521k€168k▼
Other operating charges640/8€118€1k▲
Gross operating margin9900€334k€379k▲
Operating profit (loss)9901€-187k€210k▲
Financial charges65/66B€100€921▲
Recurring financial charges65€100€921▲
Profit (loss) for the period before taxes9903€-187k€209k▲
Income taxes67/77-€6k
Profit (loss) for the period9904€-187k€203k▲
Profit (loss) for the period to be appropriated9905€-187k€203k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-192k€11k▲
Profit (loss) brought forward from the previous period14P€-5k€-192k▼
Transfer to equity691/2-€11k
To other reserves6921-€11k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| 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.
Similar companies · same sector, comparable size
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DAD INVEST
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FINIO
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DIMCO
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Of 4,096 companies in sector 43240 we hold annual accounts for 1,633. 1,012 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.