LuWa
ActiveSummary
LuWa has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of €498,718. Equity is growing by ~28.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 100 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+1
Solvency26=
Growth52▲+8
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity ample (current ratio 6.65 against 6.66 in 2024; short-term debt: 15% and cash: 0.8% of total assets), but 99.1% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 27
Relative position
BE, all sectors
reference
Manufacture of electrical equipment (NACE 27)
about 104% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
0.9%
Return on assets
0.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 100 sector peers (2025).
NBB · sector comparisonPosition among 100 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-05-2026, 66 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
66 d early
2024
50 d early
2023
71 d early
2022
295 d late
2021
37 d early
2020
11 d early
2019
31 d early
← 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 4 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€8.7m▼ 38.7%
2024 · €14.2m
EBIT margin
1.7%▲ 7.0pp
2024 · -5.4%
Net result
€498,718
2024 · -€821,710
Working capital
€190.8m▼ 4.4%
2024 · €199.6m
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
Line20212022202320242025
Turnover€65.8m▲ 16.7%€79.7m▲ 21.1%€79.4m▼ 0.3%€14.2m▼ 82.1%€8.7m▼ 38.7%
Operating result€226,421▼ 89.4%€704,853▲ 211%€982,760▲ 39.4%-€761,654€144,706
Net result€927,681▲ 822%€178,213▼ 80.8%€1.2m▲ 551%-€821,710€498,718
EBIT margin0.3%▼ 3.4pp0.9%▲ 0.5pp1.2%▲ 0.4pp-5.4%▼ 6.6pp1.7%▲ 7.0pp
Equity€1.1m▲ 572%€1.3m▲ 16.4%€2.4m▲ 91.5%€1.6m▼ 33.8%€2.1m▲ 31.1%
Total assets€165.3m▲ 96.2%€226.6m▲ 37.1%€251.8m▲ 11.1%€234.8m▼ 6.7%€224.5m▼ 4.4%
Debt€164.2m▲ 95.3%€225.3m▲ 37.2%€249.4m▲ 10.7%€233.2m▼ 6.5%€222.4m▼ 4.7%
Working capital€144.0m▲ 113%€180.0m▲ 25.0%€210.4m▲ 16.9%€199.6m▼ 5.1%€190.8m▼ 4.4%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €144,706 after a loss of €761,654 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €224.5m
Equity
€2.1m ▲ 31.1%
Debt
€222.4m ▼ 4.7%
Debt's share of the balance-sheet total falls from 99.3% to 99.1%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
6.65▼
2024 · 6.66
Quick ratio
6.65▼
2024 · 6.66
ROE
23.7%▲
2024 · -51.2%
ROA
0.2%▲
2024 · -0.3%
Debt ≤ 1 year
€33.7m▼
2024 · €35.2m
Debt > 1 year
€165.5m▼
2024 · €177.9m
Income taxes
€166,343▲
2024 · -€3
A ratio outside any meaningful range has been withheld (balance sheet total €224.5m, equity €2.1m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 189 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Large
- solvency under 10%
- a profit under 5% of the balance sheet
- without age
1.1%
went bankrupt
1.6%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 189 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €88.6m | €78.4m | €25.7m | €10.9m | €8.9m | ▼ 18.1% |
| Turnover70 | €65.8m | €79.7m | €79.4m | €14.2m | €8.7m | ▼ 38.7% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €22.6m | -€1.2m | -€53.8m | -€3.9m | -€12,361 | ▲ 99.7% |
| Other operating income74 | €232,331 | - | €76,307 | €541,145 | €197,873 | ▼ 63.4% |
| Operating charges60/66A | €88.4m | €77.7m | €24.7m | €11.6m | €8.8m | ▼ 24.7% |
| Goods for resale, raw materials and consumables60 | €87.6m | €77.2m | €24.2m | €11.0m | €8.1m | ▼ 26.6% |
| Purchases600/8 | €87.6m | €77.2m | €24.2m | €11.0m | €8.1m | ▼ 26.6% |
| Services and other goods61 | €712,379 | €507,053 | €556,253 | €572,039 | €635,122 | ▲ 11.0% |
| Other operating charges640/8 | €16,005 | €12,744 | €12,342 | €13,463 | €15,047 | ▲ 11.8% |
| Operating profit (loss)9901 | €226,421 | €704,853 | €982,760 | -€761,654 | €144,706 | ▲ 119% |
| Financial income75/76B | €2.0m | €3.9m | €10.0m | €10.9m | €7.6m | ▼ 29.9% |
| Recurring financial income75 | €2.0m | €3.9m | €10.0m | €10.9m | €7.6m | ▼ 29.9% |
| Income from current assets751 | - | - | - | - | €226,119 | - |
| Other financial income752/9 | €2.0m | €3.9m | €10.0m | €10.9m | €7.4m | ▼ 32.0% |
| Financial charges65/66B | €919,624 | €4.4m | €9.4m | €10.9m | €7.1m | ▼ 35.0% |
| Recurring financial charges65 | €919,624 | €4.4m | €9.4m | €10.9m | €7.1m | ▼ 35.0% |
| Debt charges650 | €657,526 | €3.8m | €9.0m | €10.9m | €7.1m | ▼ 34.9% |
| Other financial charges652/9 | €262,097 | €576,194 | €423,847 | €72,976 | €36,944 | ▼ 49.4% |
| Profit (loss) for the period before taxes9903 | €1.3m | €237,617 | €1.6m | -€821,712 | €665,060 | ▲ 181% |
| Income taxes67/77 | €330,665 | €59,404 | €402,707 | -€3 | €166,343 | ▲ 5,836,691% |
| Taxes670/3 | €330,665 | €59,404 | €402,707 | - | €166,343 | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €3 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €927,681 | €178,213 | €1.2m | -€821,710 | €498,718 | ▲ 161% |
| Profit (loss) for the period to be appropriated9905 | €927,681 | €178,213 | €1.2m | -€821,710 | €498,718 | ▲ 161% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €165.3m | €226.6m | €251.8m | €234.8m | €224.5m | ▼ 4.4% |
| Current assets29/58 | €165.3m | €226.6m | €251.8m | €234.8m | €224.5m | ▼ 4.4% |
| Amounts receivable after more than one year29 | €89.0m | €153.6m | €204.9m | €196.4m | €184.3m | ▼ 6.2% |
| Trade receivables290 | €89.0m | €153.6m | €204.9m | €196.4m | €184.3m | ▼ 6.2% |
| Stocks and contracts in progress3 | €59.0m | €57.7m | €4.0m | €95,285 | €82,924 | ▼ 13.0% |
| Contracts in progress37 | €59.0m | €57.7m | €4.0m | €95,285 | €82,924 | ▼ 13.0% |
| Amounts receivable within one year40/41 | €7.2m | €8.9m | €23.7m | €26.3m | €27.0m | ▲ 2.8% |
| Trade receivables40 | €7.1m | €8.5m | €23.6m | €25.8m | €26.6m | ▲ 3.3% |
| Other amounts receivable41 | €26,859 | €359,469 | €74,512 | €540,983 | €425,901 | ▼ 21.3% |
| Current investments50/53 | - | - | - | €8.7m | €11.4m | ▲ 30.9% |
| Other investments51/53 | - | - | - | €8.7m | €11.4m | ▲ 30.9% |
| Cash at bank and in hand54/58 | €10.1m | €6.4m | €19.2m | €3.4m | €1.7m | ▼ 49.0% |
| Deferred charges and accrued income490/1 | - | €8,643 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €165.3m | €226.6m | €251.8m | €234.8m | €224.5m | ▼ 4.4% |
| Equity10/15 | €1.1m | €1.3m | €2.4m | €1.6m | €2.1m | ▲ 31.1% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Profit (loss) carried forward14 | €1.0m | €1.2m | €2.4m | €1.5m | €2.0m | ▲ 32.4% |
| Amounts payable17/49 | €164.2m | €225.3m | €249.4m | €233.2m | €222.4m | ▼ 4.7% |
| Amounts payable after more than one year17 | €138.4m | €167.1m | €191.1m | €177.9m | €165.5m | ▼ 7.0% |
| Financial debts170/4 | €138.4m | €167.1m | €191.1m | €177.9m | €165.5m | ▼ 7.0% |
| Subordinated loans170 | - | - | €17.9m | €18.0m | €18.4m | ▲ 2.5% |
| Credit institutions173 | €138.4m | €167.1m | €173.1m | €160.0m | €147.1m | ▼ 8.0% |
| Amounts payable within one year42/48 | €21.3m | €46.6m | €41.4m | €35.2m | €33.7m | ▼ 4.3% |
| Current portion of amounts payable after more than one year42 | - | €33.0m | €22.0m | €14.8m | €13.7m | ▼ 7.3% |
| Trade debts44 | €18.1m | €9.3m | €12.4m | €11.9m | €12.7m | ▲ 6.5% |
| Suppliers440/4 | €18.1m | €9.3m | €12.4m | €11.9m | €12.7m | ▲ 6.5% |
| Taxes, remuneration and social security45 | €298,554 | €263,034 | €98,258 | €98,258 | €0 | ▼ 100% |
| Taxes450/3 | €298,554 | €263,034 | €98,258 | €98,258 | €0 | ▼ 100% |
| Other amounts payable47/48 | €2.8m | €4.1m | €6.9m | €8.5m | €7.4m | ▼ 13.0% |
| Accrued charges and deferred income492/3 | €4.5m | €11.6m | €16.9m | €20.1m | €23.1m | ▲ 15.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €927,681 | €178,213 | €1.2m | -€821,710 | €498,718 | ▲ 161% |
| Operating cash flow (approximation) | €927,681 | €178,213 | €1.2m | -€821,710 | €498,718 | ▲ 161% |
| Change in cash | - | -€3.8m | €12.8m | -€15.8m | -€1.6m | ▲ 89.6% |
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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €498,718
Net result €498,718 after one loss-making year.
31-12
Financial
Equity above €2mEq €2.1m ▲31.1%
Equity rises from €1.6m to €2.1m.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€821,710
Net result drops to -€821,710, the lowest in the series; recovery starts the following year.
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
21-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 295 days late
2023
31-12
Financial
Highest result since 2020net €1.2m ▲551%
Net result €1.2m, the highest in the series.
31-12
Financial
Equity above €2mEq €2.4m ▲91.5%
4 profitable years in a row build equity to €2.4m.
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €1mEq €1.1m ▲572%
2 profitable years in a row build equity to €1.1m.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
31-12
Financial
Liquidity doublescurrent ratio 5.08
Current ratio from 2.42 to 5.08.
31-12
Financial
Equity above €150,000Eq €162,151 ▲164%
Equity rises from €61,500 to €162,151.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
13 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 2018
Ground area
2,672 m²
Building footprint
399 m²
Volume, LiDAR
3,581 m³
Parcel 92136B0392/00D000, Wallonia · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
LuWa
since 20182.283.679.116
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92136B0392/00D000 | Wallonia | 2,672 m² | 1 · 399 m² | 11.8 m · 3 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
2 ownersOwners 2
- Sourceaccounts Luminus 202518%
-
11.9%
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.
Recognitions · licences · registrations
Legal Entity Identifier
894500BXQP7INSFZPR11
Similar companies · same sector, comparable size
IDENTIFICATION DESIGN SIGNS PRODUCTS
BE 0414.648.076
Manage · Eq €2,068,342
Feilo Sylvania Lighting Belgium
BE 0421.873.289
Sint-Truiden · Eq €2,272,735
Eclairbel-Neoray
BE 0402.210.005
Sint-Jans-Molenbeek · Eq €1,841,291
LUX LUMEN
BE 0446.605.915
Antwerpen · Eq €1,765,948
COLOR DESIGN
BE 0459.151.082
Lessines · Eq €2,552,613
Of 257 companies in sector 27402 we hold annual accounts for 157. 70 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
27402Manufacture of electrical equipment
43212Electrical installation work in industrial facilities
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0715758248
Also
9925:BE0715758248
Registered
18-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.