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in BW Association Intercommunale

Active
Cooperative companyfounded 1968active for 58 yearsRue de la Religion 10, 1400 Nivelles, BelgiumKBO/BCE: BE 0200.362.210
Summary

in BW Association Intercommunale has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €219.5m and a net result of €4.8m. Equity is growing by about 3.1% per year across the filed financial years. Its solvency ranks better than 45% of 138 sector peers (NACE 37, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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in BW Association IntercommunaleActiveChecked score 90/100
Risk analysis ReportCompare

Overview

Activity
Sewerage
NACE 37000
Largest company by total assets in Walloon Brabant, Water and waste sector32 sites
Size
€135.7mturnover 2025
Staff
488 FTE
Equity
€219.5m
Profit
€4.8m
Financial health
90 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Structure
Board
22 members
Holdings
20
Auditor: AUDICIA2025 accounts 25 days early55 of 57 deeds summarised
Why 90raises riskLiquidity: current ratio 2.41, cash €2.8mLegal form: cooperative companylowers riskSize: turnover €135.7m, 488 FTE, total assets €576.1mFounded in 1968Show the evidence

Checked score

Score 2025
90 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 48% of its sector peers (NACE 37)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Strong
Solvency 63+2
equity 38.1% of total assets
Liquidity 49-2
short-term debt 11.8% · cash 0.5%
Profitability 67+1
return on assets 0.8%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (3 companies, NACE 37, large)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025lowest value 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025 07-2025: 0.2%● unchanged vs 06-2025highest value 08-2025: 0.2%● unchanged vs 07-2025 09-2025: 0.2%● unchanged vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.2%● unchanged vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.2%● unchanged vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026
Credit of up to €13,550,000 on 30-day terms is acceptable
Liquidity ample (current ratio 2.41, compared with 3.78 in 2024, above the usual 1.5; short-term debt: 11.8% and cash: 0.5% of total assets), but 61.9% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 37): better than 49% on solvency, 66% on liquidity, 26% on profitability and 54% on growth.

The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 2.41, cash €2.8m
NBB · annual accounts
lowers risk · Size: turnover €135.7m, 488 FTE, total assets €576.1m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
lowers risk · Founded in 1968
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Legal form: cooperative company
KBO
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
25 days early
2024
19 days early
2023
21 days early
2022
28 days early
2021
30 days early
2020
31 days early
2019
61 days late
← 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 13 days before the deadline; the sector median (NACE 37) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 6 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
29-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. RestructuringTransfer of a branch of…
  2. Annual accounts filedfinancial year 2025 · full…
  3. RestructuringPermanent representative: Marc Degaute ·…

Key points

  • Positive: Largest company by total assets in Walloon Brabant, Water and waste sectorin the Checked rankings No. 1 View
  • Positive: 6 years of growth in a rowturnover 2025: €135.7m 6 years View
  • Positive: Filed on time since financial year 2020accounts within the deadline every year 6 years View
  • Active since 1968founded 26-02-1968 58 years View

By topic

Financials

Financial year
2025
Turnover
€135.7m
Profit
€4.8m
Solvency
38.1%
Turnover▲ 5.1%
Net result
20182025
Go to Financials

Board & ownership

Board
22 members
Auditor
AUDICIA
  • Christophe DisterChair
  • Cédric du Monceau de BergendalChair
  • Julien BREUERDirector
  • Cédric Du MONCEAUDirector
  • Aisling D'HOOGHEDirector

and 17 other directors

Go to Board & ownership

Network & group

Holdings
20
Connected companies
55
Mergers and asset contributions
1

20 holdings

Go to Network & group

Timeline

Events
105
Since
1977
Next accounts
by 31-07-2027
  1. 30-01-2026Resignations & appointments
  2. 24-10-2025Resignations & appointments
  3. 22-07-2025Resignations: Christophe DISTER, Thierry HENKART and 23…
Go to Timeline

Company details

Sites
32
Legal form
Cooperative company
Activity
SewerageNACE 37000
Founded
26-02-1968
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
29
Purpose
“A. Le développement économique, agricole, touristique, démographique, social, culturel et…” (deed in French)
Go to Articles of association

Key facts about in BW Association Intercommunale

What is the company number of in BW Association Intercommunale?
0200.362.210. In Belgium the VAT number is the company number with BE in front: BE 0200.362.210.
Where is in BW Association Intercommunale based?
The registered office is at Rue de la Religion 10, 1400 Nivelles.Company details
What does in BW Association Intercommunale do?
According to the KBO register, the main activity is sewerage (NACE 37000).
What is the legal form of in BW Association Intercommunale?
Cooperative company (CV).
When was in BW Association Intercommunale founded?
On 26-02-1968.
Is in BW Association Intercommunale still active?
Yes, in BW Association Intercommunale is an active enterprise in the KBO register.
How many employees does in BW Association Intercommunale have?
On average 488 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of in BW Association Intercommunale?
€135.7m in financial year 2025, according to the filed annual accounts.
Is in BW Association Intercommunale profitable?
In financial year 2025, in BW Association Intercommunale made a profit of €4.8m.
Where can I find the annual accounts of in BW Association Intercommunale?
in BW Association Intercommunale filed 50 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of in BW Association Intercommunale due?
By 31-07-2027, for financial year 2026.Timeline

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