INWACO
ActiveSummary
INWACO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €116k and a net result of €16k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 43% of 6720 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability63▼-20
Solvency56▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days only on tighter terms
Liquidity tight (current ratio 1.42 against 1.59 in 2023; short-term debt: 69.2% and cash: 34.4% of total assets), and 69.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
30.8%
Return on assets
4.1%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-12-2025, 146 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
146 d late
2023
29 d late
2022
29 d late
2021
29 d late
2020
31 d late
2019
19 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€116k▼ 12.3%
2023 · €132k
Total assets
€376k▲ 8.7%
2023 · €346k
Net result
€16k▼ 59.5%
2023 · €38k
Working capital
€110k▼ 13.2%
2023 · €127k
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
Line20202021202220232024
Operating result€61k▼ 16.8%€70k▲ 15.2%€20k▼ 71.2%€67k▲ 230%€32k▼ 52.3%
Net result€32k▼ 27.0%€40k▲ 26.8%€7k▼ 82.8%€38k▲ 452%€16k▼ 59.5%
Equity€122k▲ 35.4%€129k▲ 6.0%€108k▼ 16.2%€132k▲ 22.3%€116k▼ 12.3%
Total assets€316k▼ 21.6%€378k▲ 19.6%€333k▼ 11.8%€346k▲ 3.8%€376k▲ 8.7%
Debt€194k▼ 37.9%€249k▲ 28.2%€225k▼ 9.5%€214k▼ 5.1%€260k▲ 21.7%
Working capital€120k▲ 55.3%€131k▲ 9.4%€101k▼ 22.8%€127k▲ 25.9%€110k▼ 13.2%
Staff (FTE)6.7▲ 4.7%11.2▲ 67.2%11.4▲ 1.8%12.3▲ 7.9%10.6▼ 13.8%
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 2024; 2024 is 52% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €376k
Fixed assets
€6k ▲ 10.0%
Current assets
€371k ▲ 8.7%
Equity and liabilities €376k
Equity
€116k ▼ 12.3%
Debt
€260k ▲ 21.7%
Debt's share of the balance-sheet total rises from 61.8% to 69.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€35k▼
2023 · €70k
Cash flow
€18k▼
2023 · €41k
Current ratio
1.42▼
2023 · 1.59
Quick ratio
0.92▲
2023 · 0.92
Debt to equity
2.24▲
2023 · 1.62
ROE
13.4%▼
2023 · 29.0%
ROA
4.1%▼
2023 · 11.1%
Interest coverage
4.71▼
2023 · 8.25
Debt ≤ 1 year
€260k▲
2023 · €214k
Income taxes
€9k▼
2023 · €19k
Staff costs
€246k▲
2023 · €190k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €206k | €202k | €190k | €246k | ▲ 29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €2k | €3k | €3k | €3k | ▼ 6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €114 | - | - | - | - |
| Other operating charges640/8 | - | €634 | €805 | €693 | €700 | ▲ 1.0% |
| Gross operating margin9900 | €275k | €279k | €226k | €261k | €281k | ▲ 7.7% |
| Operating profit (loss)9901 | €61k | €70k | €20k | €67k | €32k | ▼ 52.3% |
| Financial income75/76B | - | €131 | €195 | €10 | €100 | ▲ 858% |
| Recurring financial income75 | €165 | €131 | €195 | €10 | €100 | ▲ 858% |
| Financial charges65/66B | - | €7k | €8k | €9k | €7k | ▼ 19.6% |
| Recurring financial charges65 | €7k | €7k | €8k | €8k | €7k | ▼ 12.9% |
| Non-recurring financial charges66B | - | - | - | €703 | - | - |
| Profit (loss) for the period before taxes9903 | €54k | €63k | €13k | €58k | €25k | ▼ 57.3% |
| Income taxes67/77 | €22k | €23k | €6k | €19k | €9k | ▼ 52.9% |
| Profit (loss) for the period9904 | €32k | €40k | €7k | €38k | €16k | ▼ 59.5% |
| Profit (loss) for the period to be appropriated9905 | €32k | €40k | €7k | €38k | €16k | ▼ 59.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €316k | €378k | €333k | €346k | €376k | ▲ 8.7% |
| Fixed assets21/28 | €3k | €7k | €7k | €5k | €6k | ▲ 10.0% |
| Tangible fixed assets22/27 | €3k | €7k | €7k | €5k | €5k | ▲ 11.2% |
| Plant, machinery and equipment23 | - | €5k | €5k | €4k | €5k | ▲ 37.3% |
| Furniture and vehicles24 | - | €2k | €2k | €962 | €132 | ▼ 86.3% |
| Financial fixed assets28 | €140 | €140 | €140 | €539 | €539 | = |
| Current assets29/58 | €313k | €371k | €326k | €341k | €371k | ▲ 8.7% |
| Stocks and contracts in progress3 | €122k | €161k | €126k | €145k | €132k | ▼ 9.2% |
| Stocks30/36 | - | €161k | €126k | €145k | €132k | ▼ 9.2% |
| Amounts receivable within one year40/41 | €86k | €78k | €111k | €111k | €102k | ▼ 8.4% |
| Trade receivables40 | - | €63k | €68k | €105k | €93k | ▼ 10.7% |
| Other amounts receivable41 | - | €15k | €43k | €6k | €8k | ▲ 28.8% |
| Cash at bank and in hand54/58 | €103k | €129k | €86k | €82k | €129k | ▲ 57.6% |
| Deferred charges and accrued income490/1 | - | €3k | €2k | €3k | €8k | ▲ 204% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €316k | €378k | €333k | €346k | €376k | ▲ 8.7% |
| Equity10/15 | €122k | €129k | €108k | €132k | €116k | ▼ 12.3% |
| Contributions10/11 | - | €26k | €26k | €26k | €26k | = |
| Reserves13 | €96k | €103k | €82k | €107k | €90k | ▼ 15.3% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | - | - |
| Tax-exempt reserves132 | - | €138 | €138 | €138 | €138 | = |
| Distributable reserves133 | - | €101k | €80k | €105k | €90k | ▼ 13.8% |
| Amounts payable17/49 | €194k | €249k | €225k | €214k | €260k | ▲ 21.7% |
| Amounts payable within one year42/48 | €194k | €240k | €225k | €214k | €260k | ▲ 21.7% |
| Trade debts44 | €170k | €174k | €163k | €175k | €201k | ▲ 14.9% |
| Suppliers440/4 | - | €174k | €163k | €175k | €201k | ▲ 14.9% |
| Advances received on contracts in progress46 | - | - | €1k | - | - | - |
| Taxes, remuneration and social security45 | - | €42k | €33k | €24k | €27k | ▲ 11.2% |
| Taxes450/3 | - | €13k | €6k | €11k | €3k | ▼ 71.6% |
| Remuneration and social security454/9 | - | €29k | €26k | €13k | €24k | ▲ 80.1% |
| Other amounts payable47/48 | - | €24k | €28k | €14k | €32k | ▲ 123% |
| Accrued charges and deferred income492/3 | - | €9k | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32k | €40k | €7k | €38k | €16k | ▼ 59.5% |
| + Depreciation and write-downs630 | €1k | €2k | €3k | €3k | €3k | ▼ 6.4% |
| Operating cash flow (approximation) | €33k | €43k | €10k | €41k | €18k | ▼ 55.6% |
| Investment in fixed assets (approximation) | - | €-7k | €-3k | €-1k | €-3k | ▼ 232% |
| Change in cash | - | €25k | €-42k | €-4k | €47k | ▲ 1,205% |
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
2025
24-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 146 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €100kEq €122k ▲35.4%
3 profitable years in a row build equity to €122k.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial
Highest result since 2018net €44k ▲700%
Operating result €73k, net result €44k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Hemiksem · 1 establishment unit since 2008
Ground area
291 m²
Building footprint
165 m²
Volume, LiDAR
1,014 m³
Parcel 11018B0107/00E019, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
INWACO
since 20082.174.575.593
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11018B0107/00E019 | Flanders | 291 m² | 1 · 165 m² | 7.1 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHemiksem2.174.575.593
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Of 103 companies in sector 49500 we hold annual accounts for 72. 58 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
Founded14-11-2008
Fiscal year end31-12
Activities, NACEBEL 2025
47300Retail sale of automotive fuel
49500Land transport and transport via pipelines
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.