KWALIS
ActiveSummary
KWALIS has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €685,031 and a net result of -€295,587. Equity is growing by ~89% per year across the filed fiscal years. Its solvency ranks better than 25% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▼-24
Solvency31▲+1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.95 against 0.57 in 2024; short-term debt: 28.8% and cash: 3% of total assets), and 94% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 2025Solvency, return and age of the figures
Solvency
6%
Return on assets
-2.6%
Age of the figures
18 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 9336 sector peers (2025).
NBB · sector comparisonPosition among 9336 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-10-2025, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
1 d early
2023
30 d late
2021
on the day
2020
30 d late
2019
90 d late
2018
27 d 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 25 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 30 October (3 of the last 3 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€685,031▼ 30.1%
2024 · €980,618
Total assets
€11.4m▼ 36.5%
2024 · €17.9m
Net result
-€295,587
2024 · €154,662
Working capital
-€173,765▲ 96.9%
2024 · -€5.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202320242025
Operating result€229,138€233,704▲ 2.0%€309,691-€804,017▲ 160%-€820,036
Net result€142,192above the sector's middle half€96,376within the sector's middle half▼ 32.2%-€106,013below the sector's middle half-€154,662above the sector's middle half-€295,587below the sector's middle half
Equity-€17,686below the sector's middle half▲ 89.0%€78,690below the sector's middle half€825,957within the sector's middle half-€980,618within the sector's middle half▲ 18.7%€685,031within the sector's middle half▼ 30.1%
Total assets€5.7mabove the sector's middle half▲ 204%€8.3mabove the sector's middle half▲ 46.9%€15.7mabove the sector's middle half-€17.9mabove the sector's middle half▲ 14.2%€11.4mabove the sector's middle half▼ 36.5%
Debt€5.7m▲ 180%€8.2m▲ 44.8%€14.9m-€16.9m▲ 13.9%€10.7m▼ 36.9%
Working capital-€3.1mbelow the sector's middle half▼ 85.7%-€2.7mbelow the sector's middle half▲ 12.6%-€5.0mbelow the sector's middle half--€5.6mbelow the sector's middle half▼ 11.3%-€173,765below the sector's middle half▲ 96.9%
Solvency-0.3%below the sector's middle half▲ 8.3pp0.9%below the sector's middle half▲ 1.3pp5.3%below the sector's middle half-5.5%below the sector's middle half▲ 0.2pp6.0%below the sector's middle half▲ 0.5pp
Current ratio0.45below the sector's middle half▲ 0.280.62within the sector's middle half▲ 0.170.64within the sector's middle half-0.57within the sector's middle half▼ 0.070.95within the sector's middle half▲ 0.38
Return on assets (ROA)2.5%within the sector's middle half▲ 11.4pp1.2%within the sector's middle half▼ 1.4pp-0.7%within the sector's middle half-0.9%within the sector's middle half▲ 1.5pp-2.6%below the sector's middle half▼ 3.5pp
Staff (FTE)1.6within the sector's middle half3within the sector's middle half▲ 87.5%4.7above the sector's middle half-4.9above the sector's middle half▲ 4.3%4.4above the sector's middle half▼ 10.2%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €820,036 after €804,017 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.4m
Fixed assets
€8.3m ▼ 21.7%
Current assets
€3.1m ▼ 57.7%
Equity and liabilities €11.4m
Equity
€685,031 ▼ 30.1%
Provisions
€13,291 =
Debt
€10.7m ▼ 36.9%
Debt's share of the balance-sheet total falls from 94.5% to 93.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€140,685▼
2024 · €1.2m
Cash flow
€383,764▼
2024 · €550,430
Quick ratio
0.58▲
2024 · 0.29
Debt to equity
15.61▼
2024 · 17.27
ROE
-43.1%▼
2024 · 15.8%
Interest coverage
-0.21▼
2024 · 2.37
Debt ≤ 1 year
€3.3m▼
2024 · €13.0m
Debt > 1 year
€7.3m▲
2024 · €3.8m
Income taxes
€666▼
2024 · €166,365
Staff costs
€444,848▲
2024 · €433,734
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €155,443 | €0 | €1,981 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €168,053 | €466,722 | €433,734 | €444,848 | ▲ 2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €119,712 | €234,031 | €469,911 | €395,768 | €679,352 | ▲ 71.7% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €15,450 | -€2,714 | -€1,574 | €0 | ▲ 100% |
| Other operating charges640/8 | - | €35,372 | €206,661 | €83,154 | €106,397 | ▲ 28.0% |
| Non-recurring operating charges66A | - | - | €3,088 | €0 | €719 | - |
| Gross operating margin9900 | €443,122 | €686,610 | €1.5m | €1.7m | €411,279 | ▼ 76.0% |
| Operating profit (loss)9901 | €229,138 | €233,704 | €309,691 | €804,017 | -€820,036 | ▼ 202% |
| Financial income75/76B | - | €7 | €11,372 | €23,281 | €1.2m | ▲ 4,972% |
| Recurring financial income75 | €2 | €7 | €11,372 | €23,281 | €191,838 | ▲ 724% |
| Non-recurring financial income76B | - | - | - | - | €988,982 | - |
| Financial charges65/66B | - | €96,723 | €267,033 | €506,271 | €655,705 | ▲ 29.5% |
| Recurring financial charges65 | €74,736 | €96,723 | €267,033 | €506,271 | €655,705 | ▲ 29.5% |
| Profit (loss) for the period before taxes9903 | €154,404 | €136,988 | €54,030 | €321,027 | -€294,921 | ▼ 192% |
| Income taxes67/77 | €12,212 | €40,612 | €160,043 | €166,365 | €666 | ▼ 99.6% |
| Profit (loss) for the period9904 | €142,192 | €96,376 | -€106,013 | €154,662 | -€295,587 | ▼ 291% |
| Profit (loss) for the period to be appropriated9905 | €142,192 | €96,376 | -€106,013 | €154,662 | -€295,587 | ▼ 291% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.7m | €8.3m | €15.7m | €17.9m | €11.4m | ▼ 36.5% |
| Fixed assets21/28 | €3.1m | €4.0m | €6.8m | €10.6m | €8.3m | ▼ 21.7% |
| Intangible fixed assets21 | €343,137 | €1.3m | €993,030 | €720,476 | €160,846 | ▼ 77.7% |
| Tangible fixed assets22/27 | €1.1m | €1.1m | €1.8m | €1.7m | €1.6m | ▼ 5.1% |
| Land and buildings22 | - | €176,969 | €931,502 | €1.7m | €1.6m | ▼ 5.0% |
| Plant, machinery and equipment23 | - | €2,905 | €6,050 | €18,398 | €17,222 | ▼ 6.4% |
| Furniture and vehicles24 | - | €23,070 | €17,864 | €17,056 | €14,508 | ▼ 14.9% |
| Other tangible fixed assets26 | - | €907,089 | €847,434 | €0 | - | - |
| Financial fixed assets28 | €1.7m | €1.5m | €4.0m | €8.2m | €6.5m | ▼ 20.2% |
| Current assets29/58 | €2.6m | €4.4m | €8.9m | €7.3m | €3.1m | ▼ 57.7% |
| Stocks and contracts in progress3 | €442,759 | €2.0m | €6.8m | €3.6m | €1.2m | ▼ 66.6% |
| Stocks30/36 | - | €668 | €1.9m | €3.6m | €1.2m | ▼ 66.6% |
| Contracts in progress37 | - | €2.0m | €5.0m | €0 | - | - |
| Amounts receivable within one year40/41 | €832,494 | €2.0m | €2.0m | €3.4m | €1.5m | ▼ 55.2% |
| Trade receivables40 | - | €1.7m | €1.4m | €1.0m | €437,979 | ▼ 57.5% |
| Other amounts receivable41 | - | €313,191 | €613,558 | €2.3m | €1.1m | ▼ 54.2% |
| Current investments50/53 | - | - | - | €7,648 | €17,264 | ▲ 126% |
| Cash at bank and in hand54/58 | €88,802 | €340,018 | €46,969 | €308,335 | €345,655 | ▲ 12.1% |
| Deferred charges and accrued income490/1 | - | €555 | €1,671 | €19,982 | €19,080 | ▼ 4.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.7m | €8.3m | €15.7m | €17.9m | €11.4m | ▼ 36.5% |
| Equity10/15 | -€17,686 | €78,690 | €825,957 | €980,618 | €685,031 | ▼ 30.1% |
| Contributions10/11 | - | €18,784 | €18,784 | €18,784 | €18,784 | = |
| Revaluation surpluses12 | - | €4,026 | €821,428 | €774,023 | €726,619 | ▼ 6.1% |
| Reserves13 | €21,655 | €21,655 | €57,533 | €104,938 | €152,342 | ▲ 45.2% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €21,655 | €57,533 | €104,938 | €152,342 | ▲ 45.2% |
| Profit (loss) carried forward14 | -€62,554 | €34,225 | -€71,789 | €82,873 | -€212,714 | ▼ 357% |
| Provisions and deferred taxes16 | €2,128 | €17,578 | €14,865 | €13,291 | €13,291 | = |
| Provisions for liabilities and charges160/5 | - | €17,578 | €14,865 | €13,291 | €13,291 | = |
| Environmental obligations163 | - | €17,578 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | €14,865 | €13,291 | €13,291 | = |
| Amounts payable17/49 | €5.7m | €8.2m | €14.9m | €16.9m | €10.7m | ▼ 36.9% |
| Amounts payable after more than one year17 | - | €1.2m | €900,000 | €3.8m | €7.3m | ▲ 93.3% |
| Financial debts170/4 | - | €1.2m | €900,000 | €3.8m | €7.3m | ▲ 93.3% |
| Amounts payable within one year42/48 | €5.7m | €7.1m | €13.9m | €13.0m | €3.3m | ▼ 74.7% |
| Current portion of amounts payable after more than one year42 | - | €4.5m | €6.2m | €9.2m | €898,173 | ▼ 90.3% |
| Financial debts43 | - | - | - | €322 | €709 | ▲ 120% |
| Credit institutions430/8 | - | - | - | €322 | €709 | ▲ 120% |
| Trade debts44 | €232,897 | €628,229 | €383,898 | €433,305 | €221,813 | ▼ 48.8% |
| Suppliers440/4 | - | €628,229 | €383,898 | €433,305 | €221,813 | ▼ 48.8% |
| Advances received on contracts in progress46 | - | €0 | €4.5m | €0 | - | - |
| Taxes, remuneration and social security45 | - | €226,501 | €53,085 | €104,125 | €90,907 | ▼ 12.7% |
| Taxes450/3 | - | €221,630 | €32,223 | €53,928 | €15,709 | ▼ 70.9% |
| Remuneration and social security454/9 | - | €4,871 | €20,863 | €50,197 | €75,198 | ▲ 49.8% |
| Other amounts payable47/48 | - | €1.7m | €2.7m | €3.2m | €2.1m | ▼ 34.9% |
| Accrued charges and deferred income492/3 | - | €2,964 | €21,165 | €183,196 | €77,189 | ▼ 57.9% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €142,192 | €96,376 | -€106,013 | €154,662 | -€295,587 | ▼ 291% |
| + Depreciation and write-downs630 | €119,712 | €234,031 | €469,911 | €395,768 | €679,352 | ▲ 71.7% |
| Operating cash flow (approximation) | €261,904 | €330,407 | €363,897 | €550,430 | €383,764 | ▼ 30.3% |
| Investment in fixed assets (approximation) | - | -€1.1m | - | -€4.2m | €1.6m | ▲ 139% |
| Change in cash | - | €251,216 | - | €261,365 | €37,321 | ▼ 85.7% |
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
29-07
State Gazette act
Director resignation · Director discharge
Power of attorney · Registered-office move
2025
27-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€295,587
Net result drops to -€295,587, the lowest in the series.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Back to profitnet €154,662
Net result €154,662 after one loss-making year.
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
31-03
Financial
Equity above €500,000Eq €825,957 ▲950%
Equity rises from €78,690 to €825,957.
2022
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €142,192
Net result €142,192 after 2 loss-making years.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
Show earlier events
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 10 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 25 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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, Leuven · 1 establishment unit since 2013
Ground area
323 m²
Building footprint
291 m²
Volume, LiDAR
2,734 m³
Parcel 24502B0035/00L000, Flanders · tallest building 12.4 m, ±4 floors. Linked by address, not a title deed.
18
companies at this address
See who is registered here
1 establishment unit
KWALIS BVBA
since 20132.219.892.609
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24502B0035/00L000 | Flanders | 323 m² | 1 · 291 m² | 12.4 m · 4 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.
Structure & network
Owners and holdings
3 ownersOwners 3
-
40%
-
33.72%
- Sourceaccounts OMILETS 20256.9%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 523 EUR awarded · 523 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 353 EUR | 353 EUR |
| 2023 | 1 | 0 EUR | 170 EUR |
| 2022 | 1 | 170 EUR | 0 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
894500M018XFTIY5BP88
Similar companies · same sector, comparable size
SOKRA
BE 0880.908.666
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DANCO
BE 0472.604.388
Awans · Eq €685,383
BOIS MADAME
BE 0782.272.039
Liège · Eq €685,395
CMH
BE 0887.646.208
Houthalen-Helchteren · Eq €685,535
Immoflandria
BE 0400.152.615
Merelbeke-Melle · Eq €685,640
Of 9,699 companies in sector 68121 we hold annual accounts for 7,393. 4,402 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
Founded02-05-2013
Fiscal year end31-03
Activities, NACEBEL 2025
68121Development of residential building projects
46831Wholesale of construction materials, general range
47521Retail sale of hardware, building materials, paint and glass (general range)
70200Business and other management consultancy
73200Market research and public opinion polling
73300Public relations and communication consultancy
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0533816140
Also
9925:BE0533816140
Registered
04-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.