KWF
Annual accounts 2025
micro format, filed on 24-06-2026, 37 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €11,305 on 31-12-2025in euro
in euro
Position in the sector
93.9%
Higher than 94% of 9,696 companies in 2025.
16.47
Higher than 95% of 9,314 companies in 2025.
-34.2%
Higher than 5% of 9,438 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
11,305 | 15,133 | 17,878 | 32,902 | 34,889 | 11,183 | |
21/28 |
- | - | 1,556 | 3,556 | 5,556 | - | |
22/27 |
- | - | 1,556 | 3,556 | 5,556 | - | |
24 |
- | - | 1,556 | 3,556 | 5,556 | - | |
29/58 |
11,305 | 15,133 | 16,322 | 29,346 | 29,332 | 11,183 | |
40/41 |
980 | 764 | 779 | 3,850 | 6,760 | 2,322 | |
40 |
167 | 421 | 551 | 3,578 | 6,754 | 2,320 | |
41 |
813 | 344 | 228 | 272 | 6 | 2 | |
54/58 |
10,187 | 14,233 | 15,411 | 24,906 | 21,994 | 8,294 | |
490/1 |
139 | 136 | 132 | 590 | 578 | 567 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
11,305 | 15,133 | 17,878 | 32,902 | 34,889 | 11,183 | |
10/15 |
10,619 | 14,487 | 14,987 | 16,562 | 8,959 | 2,505 | |
10/11 |
2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | |
13 |
8,119 | 11,987 | 12,487 | 14,062 | 6,459 | 5 | |
133 |
8,119 | 11,987 | 12,487 | 14,062 | 6,459 | 5 | |
17/49 |
686 | 646 | 2,891 | 16,340 | 25,929 | 8,678 | |
17 |
- | - | - | - | 2,524 | - | |
170/4 |
- | - | - | - | 2,524 | - | |
42/48 |
686 | 646 | 2,891 | 16,340 | 23,405 | 8,678 | |
42 |
- | - | - | - | 2,984 | - | |
44 |
250 | 210 | 595 | 411 | 273 | 182 | |
440/4 |
250 | 210 | 595 | 411 | 273 | 182 | |
45 |
- | - | 1,966 | 5,379 | 3,577 | 1,650 | |
450/3 |
- | - | 1,966 | 5,379 | 3,577 | 1,650 | |
47/48 |
436 | 436 | 330 | 10,550 | 16,571 | 6,846 | |
| Income statement | |||||||
9900 |
-3,166 | 1,638 | 878 | 12,138 | 8,831 | 1,820 | |
630 |
- | 1,556 | 2,000 | 2,000 | 444 | 1,759 | |
640/8 |
587 | 509 | 446 | 331 | 62 | - | |
9901 |
-3,753 | -427 | -1,569 | 9,807 | 8,325 | 61 | |
75/76B |
- | 0 | 64 | - | - | - | |
75 |
- | 0 | 64 | - | - | - | |
65/66B |
115 | 74 | 65 | 238 | 257 | 23 | |
65 |
115 | 74 | 65 | 238 | 257 | 23 | |
9903 |
-3,868 | -500 | -1,570 | 9,569 | 8,068 | 38 | |
67/77 |
- | - | 5 | 1,966 | 1,613 | 33 | |
9904 |
-3,868 | -500 | -1,575 | 7,603 | 6,455 | 5 | |
9905 |
-3,868 | -500 | -1,575 | 7,603 | 6,455 | 5 | |
| Appropriation of the result | |||||||
9906 |
-3,868 | -500 | -1,575 | 7,603 | 6,455 | 5 | |
791/2 |
3,868 | 500 | 1,575 | - | - | - | |
691/2 |
- | - | - | 7,603 | 6,455 | 5 | |
6921 |
- | - | - | 7,603 | 6,455 | 5 | |
| Document | |||||||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-06-2026 | 2026-00224212 | |
| 31-12-2024 | micro format | 04-07-2025 | 2025-00229339 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00210667 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00187356 | |
| 31-12-2021 | micro format | 22-07-2022 | 2022-20211175 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-42200394 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| - | 1,129 | 431 | 11,807 | 8,769 | 1,820 | ||
| - | 1,056 | 425 | 9,603 | 6,899 | 1,763 | ||
| - | 0 | 0 | 0 | 6,000 | 1,759 | ||
| -4,046 | -1,178 | -9,495 | 2,912 | 13,701 | - | ||
| 10,619 | 14,487 | 13,431 | 13,006 | 5,927 | 2,505 | ||
| 93.9% | 95.7% | 83.8% | 50.3% | 25.7% | 22.4% | ||
| 16.47 | 23.42 | 5.65 | 1.80 | 1.25 | 1.29 | ||
| 0.06 | 0.04 | 0.19 | 0.99 | 2.89 | 3.47 | ||
| -36.4% | -3.5% | -10.5% | 45.9% | 72.0% | 0.2% | ||
| -34.2% | -3.3% | -8.8% | 23.1% | 18.5% | 0.0% | ||
| - | 15.36 | 6.65 | 49.51 | 34.15 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €6,000 |
| - | €1,556 | €2,000 | €2,000 | €444 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on KWF
The operating result for 2025 is a loss of €3,753, larger than the loss of €427 in 2024. It is the lowest result since 2020.
Debt's share of the balance-sheet total rises from 4.3% to 6.1%. Equity is lower and debt is higher.