KWAC
Open bankruptcyA bankruptcy procedure is open for KWAC according to publications in the Belgian State Gazette; curator: JULIEN BUY. The 2024 annual accounts show equity of €13k and a net result of €-11k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-09-2025, 47 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
47 d late
2023
68 d late
2022
133 d late
2021
205 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€13k▼ 45.6%
2023 · €25k
2021: €15k
2022: €16k
2023: €25k
2021 → 2024
Total assets
€47k▲ 6.1%
2023 · €44k
2021: €48k
2022: €38k
2023: €44k
2021 → 2024
Net result
€-11k
2023 · €8k
2021: €12k
2022: €889
2023: €8k
2021 → 2024
Working capital
€7k▼ 67.8%
2023 · €21k
2021: €7k
2022: €13k
2023: €21k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€15k-€16k▲ 5.8%€25k▲ 51.9%€13k▼ 45.6%
Operating result€19k-€4k▼ 78.9%€11k▲ 179%€-6k
Net result€12k-€889▼ 92.8%€8k▲ 848%€-11k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €6k after €11k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €47k
Fixed assets
€7k▲ 86.0%
Current assets
€40k▼ 1.0%
Equity and liabilities €47k
Equity
€13k▼ 45.6%
Debt
€33k▲ 72.4%
The debt ratio rises from 43.7% to 71.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-4k▼
2023 · €15k
Cash flow
€-9k▼
2023 · €12k
Solvency
28.9%▼
2023 · 56.3%
Current ratio
1.21▼
2023 · 2.10
Quick ratio
1.21▼
2023 · 2.10
Debt / equity
2.46▲
2023 · 0.78
ROE
-83.7%▼
2023 · 34.1%
ROA
-24.2%▼
2023 · 19.2%
Interest coverage
-2.29▼
2023 · 10.82
Debt
€33k▲
2023 · €19k
Debt ≤ 1 year
€33k▲
2023 · €19k
Income taxes
€4k▲
2023 · €3k
Staff costs
€2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€44k€47k▲
Fixed assets21/28€4k€7k▲
Tangible fixed assets22/27€3k€6k▲
Furniture and vehicles24€3k€6k▲
Financial fixed assets28€87€143▲
Current assets29/58€40k€40k▼
Amounts receivable within one year40/41€35k€38k▲
Trade receivables40€6k€8k▲
Other amounts receivable41€29k€30k▲
Cash at bank and in hand54/58€5k€258▼
Deferred charges and accrued income490/1€848€2k▲
Equity and liabilities
Total equity and liabilities10/49€44k€47k▲
Equity10/15€25k€13k▼
Contributions10/11€3k€3k=
Profit (loss) carried forward14€22k€10k▼
Amounts payable17/49€19k€33k▲
Amounts payable within one year42/48€19k€33k▲
Trade debts44€163€7k▲
Suppliers440/4€163€7k▲
Taxes, remuneration and social security45€19k€26k▲
Taxes450/3€19k€26k▲
Income statement
Code20232024
Remuneration, social security and pensions62-€2k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A-€17k
Gross operating margin9900€16k€17k▲
Operating profit (loss)9901€11k€-6k▼
Financial income75/76B€1k€1k▼
Recurring financial income75€1k€1k▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€11k€-7k▼
Income taxes67/77€3k€4k▲
Profit (loss) for the period9904€8k€-11k▼
Profit (loss) for the period to be appropriated9905€8k€-11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€22k€10k▼
Profit (loss) brought forward from the previous period14P€13k€22k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
19-05
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Namur · KWAC SRL RUE DU MARCOTIA 16, 5100 NANINNE · event 30-04-2026
2025
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 47 days late
2024
31-12
Financial
Weakest financial yearnet €-11k ▼233%
Net result drops to €-11k, the lowest in the series.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
11-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 133 days late
21-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 205 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Namur · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Marcotia(NN) 165100 NamurGround area
2,744 m²
Building footprint
260 m²
Volume, LiDAR
1,191 m³
2 parcels, Wallonia · tallest building 6.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KWAC
since 20202.302.443.270
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92095B0544/00E000 | Wallonia | 1,393 m² | 1 · 160 m² | 5.8 m · 2 fl. |
| 63553C0027/00X000 | Wallonia | 1,350 m² | 1 · 100 m² | 6.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JULIEN BUY RUE HENRI LEMAITRE 53, 5000 NAMUR- |
30-04-2026 → present |
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Of 6,295 companies in sector 74120 we hold annual accounts for 1,011. 790 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-04-2020
Fiscal year end31-12
Trade name FR
Kika studio et Kwac studio
Activities, NACEBEL
74103Other professional, scientific and technical activities
74120Graphic design and visual communication
18130Pre-press and pre-media services
63120Computing infrastructure, data processing, hosting and other information service activities
63910Web portal activities
74201Photography, excluding press photography
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.kwac.be
E-mail:hello@kwac.be