KWAAIRO

Active

Private limited companyfounded 20206 yrs activeZakstraat 120, 9112 Sint-Niklaas, BelgiumKBO/BCE: BE 0740.895.403

Summary

KWAAIRO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €168,565 and a net result of €163,565. Equity is growing by ~47.8% per year across the filed fiscal years. Its solvency ranks better than 36% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysis Watch Report Compare

KWAAIROActiveChecked score 78/100

Risk analysis Report Compare

Checked score

Score 2025

78 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency63▼-37

Growth78=

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €13,000 at 30 days acceptable

Liquidity short (current ratio 0.83 against 24.0 in 2024; short-term debt: 62.4% and cash: 47.5% of total assets), and 62.4% 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○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 70

Relative position

BE, all sectors

reference

Activities of head offices; management consultancy activities (NACE 70)

about 69% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

37.6%

Return on assets

36.5%

Age of the figures

9 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

29 d early

2024

30 d early

2023

30 d early

2022

26 d early

2021

33 d early

2020

31 d early

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

26-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 8 January 2020, KWAAIRO was incorporated as a Private limited company.¹ Total assets went from EUR 85,430 in 2020 to EUR 448,354 in 2025.²

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Financials · fiscal year 2025, micro schema

Equity

€168,565▼ 65.3%

2024 · €485,539

Total assets

€448,354▼ 9.8%

2024 · €497,055

Net result

€163,565▲ 14.0%

2024 · €143,438

Working capital

-€46,748

2024 · €264,808

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result€107,210▲ 91.0%€137,444▲ 28.2%€137,185▼ 0.2%€186,117▲ 35.7%€216,393▲ 16.3%

Net result€84,425▲ 91.8%€106,910▲ 26.6%€101,743▼ 4.8%€143,438▲ 41.0%€163,565▲ 14.0%

Equity€133,449▲ 172%€240,359▲ 80.1%€342,102▲ 42.3%€485,539▲ 41.9%€168,565▼ 65.3%

Total assets€166,629▲ 95.0%€305,808▲ 83.5%€358,710▲ 17.3%€497,055▲ 38.6%€448,354▼ 9.8%

Debt€33,180▼ 8.9%€65,449▲ 97.3%€16,608▼ 74.6%€11,516▼ 30.7%€279,790▲ 2,330%

Working capital€130,824▲ 167%€238,958▲ 82.7%€129,694▼ 45.7%€264,808▲ 104%-€46,748

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 16% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €448,354

48.0%

52.0%

Fixed assets €215,312 ▼ 2.5%

Current assets €233,042 ▼ 15.7%

Equity and liabilities €448,354

37.6%

62.4%

Equity €168,565 ▼ 65.3%

Debt €279,790 ▲ 2,330%

Debt's share of the balance-sheet total rises from 2.3% to 62.4%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€222,697▲

2024 · €191,416

Cash flow

€169,869▲

2024 · €148,736

Current ratio

0.83▼

2024 · 24.00

Debt to equity

1.66▲

2024 · 0.02

ROE

97.0%▲

2024 · 29.5%

ROA

36.5%▲

2024 · 28.9%

Interest coverage

2133.11▲

2024 · 1833.48

Debt ≤ 1 year

€279,790▲

2024 · €11,516

Income taxes

€56,096▲

2024 · €42,578

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 41 lines

Balance sheet Code20242025

Assets

Total assets20/58€497,055€448,354▼

Fixed assets21/28€220,731€215,312▼

Tangible fixed assets22/27€12,393€6,974▼

Plant, machinery and equipment23-€706

Furniture and vehicles24€12,393€6,268▼

Financial fixed assets28€208,338€208,338=

Current assets29/58€276,324€233,042▼

Amounts receivable within one year40/41€19,965€19,965=

Trade receivables40€19,965€19,965=

Current investments50/53€150,000-

Cash at bank and in hand54/58€106,359€213,077▲

Equity and liabilities

Total equity and liabilities10/49€497,055€448,354▼

Equity10/15€485,539€168,565▼

Contributions10/11€5,000€5,000=

Reserves13€480,539€163,565▼

Distributable reserves133€480,539€163,565▼

Amounts payable17/49€11,516€279,790▲

Amounts payable within one year42/48€11,516€279,790▲

Trade debts44€1,496€1,605▲

Suppliers440/4€1,496€1,605▲

Taxes, remuneration and social security45€10,020€9,977▼

Taxes450/3€10,020€9,977▼

Other amounts payable47/48-€268,208

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5,298€6,304▲

Other operating charges640/8€638€770▲

Gross operating margin9900€192,053€223,467▲

Operating profit (loss)9901€186,117€216,393▲

Financial income75/76B€3€3,372▲

Recurring financial income75€3€3,372▲

Financial charges65/66B€104€104=

Recurring financial charges65€104€104=

Profit (loss) for the period before taxes9903€186,016€219,661▲

Income taxes67/77€42,578€56,096▲

Profit (loss) for the period9904€143,438€163,565▲

Profit (loss) for the period to be appropriated9905€143,438€163,565▲

Appropriation of the result

Profit (loss) to be appropriated9906€143,438€163,565▲

Transfer from equity791/2-€480,539

Transfer to equity691/2€143,438€163,565▲

To other reserves6921€143,438€163,565▲

Profit to be distributed694/7-€480,539

Return on contributions (dividend)694-€480,539

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€1,052	€1,224	€2,081	€5,298	€6,304	▲ 19.0%
Other operating charges640/8	€120	€122	€516	€638	€770	▲ 20.7%
Gross operating margin9900	€108,382	€138,790	€139,783	€192,053	€223,467	▲ 16.4%
Operating profit (loss)9901	€107,210	€137,444	€137,185	€186,117	€216,393	▲ 16.3%
Financial income75/76B	-	-	-	€3	€3,372	▲ 112,680%
Recurring financial income75	-	-	-	€3	€3,372	▲ 112,680%
Financial charges65/66B	€56	€100	€106	€104	€104	=
Recurring financial charges65	€56	€100	€106	€104	€104	=
Profit (loss) for the period before taxes9903	€107,154	€137,345	€137,080	€186,016	€219,661	▲ 18.1%
Income taxes67/77	€22,729	€30,435	€35,337	€42,578	€56,096	▲ 31.7%
Profit (loss) for the period9904	€84,425	€106,910	€101,743	€143,438	€163,565	▲ 14.0%
Profit (loss) for the period to be appropriated9905	€84,425	€106,910	€101,743	€143,438	€163,565	▲ 14.0%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€166,629	€305,808	€358,710	€497,055	€448,354	▼ 9.8%
Fixed assets21/28	€2,625	€1,401	€212,408	€220,731	€215,312	▼ 2.5%
Tangible fixed assets22/27	€2,620	€1,396	€3,070	€12,393	€6,974	▼ 43.7%
Plant, machinery and equipment23	€444	€258	€72	-	€706	-
Furniture and vehicles24	€2,176	€1,138	€2,997	€12,393	€6,268	▼ 49.4%
Financial fixed assets28	€5	€5	€209,338	€208,338	€208,338	=
Current assets29/58	€164,004	€304,406	€146,302	€276,324	€233,042	▼ 15.7%
Amounts receivable within one year40/41	€16,335	€18,755	€18,755	€19,965	€19,965	=
Trade receivables40	€16,335	€18,755	€18,755	€19,965	€19,965	=
Current investments50/53	-	-	-	€150,000	-	-
Cash at bank and in hand54/58	€147,669	€285,651	€127,547	€106,359	€213,077	▲ 100%
Equity and liabilities
Total equity and liabilities10/49	€166,629	€305,808	€358,710	€497,055	€448,354	▼ 9.8%
Equity10/15	€133,449	€240,359	€342,102	€485,539	€168,565	▼ 65.3%
Contributions10/11	€5,000	€5,000	€5,000	€5,000	€5,000	=
Reserves13	€128,449	€235,359	€337,102	€480,539	€163,565	▼ 66.0%
Distributable reserves133	€128,449	€235,359	€337,102	€480,539	€163,565	▼ 66.0%
Amounts payable17/49	€33,180	€65,449	€16,608	€11,516	€279,790	▲ 2,330%
Amounts payable within one year42/48	€33,180	€65,449	€16,608	€11,516	€279,790	▲ 2,330%
Trade debts44	€2,460	€25,768	€2,042	€1,496	€1,605	▲ 7.3%
Suppliers440/4	€2,460	€25,768	€2,042	€1,496	€1,605	▲ 7.3%
Taxes, remuneration and social security45	€30,720	€39,681	€14,566	€10,020	€9,977	▼ 0.4%
Taxes450/3	€30,720	€39,681	€14,566	€10,020	€9,977	▼ 0.4%
Other amounts payable47/48	-	-	-	-	€268,208	-

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€84,425	€106,910	€101,743	€143,438	€163,565	▲ 14.0%
+ Depreciation and write-downs630	€1,052	€1,224	€2,081	€5,298	€6,304	▲ 19.0%
Operating cash flow (approximation)	€85,477	€108,134	€103,824	€148,736	€169,869	▲ 14.2%
Investment in fixed assets (approximation)	-	€0	-€213,088	-€13,621	-€885	▲ 93.5%
Change in cash	-	€137,983	-€158,105	-€21,188	€106,718	▲ 604%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

All 12Financial 5Gazette 1Filings 6

Next filing, fiscal year 2026, expected by 31-07-2027

2026

23-09

State Gazette act General meeting · Director appointment

Director reappointment · Permanent representative

02-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2020net €163,565 ▲14%

Operating result €216,393, net result €163,565, both a record.

01-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Liquidity triplescurrent ratio 24.00

Current ratio from 8.81 to 24.00; short-term debt falls from €16,608 to €11,516.

01-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

05-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Equity above €200,000Eq €240,359 ▲80.1%

3 profitable years in a row build equity to €240,359.

28-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Liquidity doublescurrent ratio 4.94

Current ratio from 2.35 to 4.94; short-term debt falls from €36,406 to €33,180.

31-12

Financial Equity above €100,000Eq €133,449 ▲172%

2 profitable years in a row build equity to €133,449.

30-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneState Gazette actNBB 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, Sint-Niklaas · 1 establishment unit since 2020

seat establishment The establishment unit on the map

Ground area

767 m²

Building footprint

150 m²

Parcel 46019B0355/00L000, Flanders. Linked by address, not a title deed.

1 establishment unit

KWAAIRO

Zakstraat 120, 9112 Sint-NiklaasActivities of head offices; management consultancy activities

since 20202.297.644.443

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
46019B0355/00L000	Flanders	767 m²	1 · 150 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

Connections & network

Depth

The group is listed under Ownership & control below; here you explore it as a network.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Ownership & control

1 board mandate

Board mandates of this companythis company sits on their board1

Go4Jobs (Noord West-Vlaanderen)

1 location

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Identification & contact

Identification

Legal formPrivate limited company

Founded08-01-2020

Fiscal year end31-12

Activities, NACEBEL 2025

70200Business and other management consultancy

Scores and ratios are computed by Checked and are not a credit decision.