LW2
ActiveSummary
The computed 12-month bankruptcy probability of LW2 is 3.5% (moderate). The annual accounts of LW2 for fiscal year 2025 show a net loss of 54% of total assets and of 56% of the equity at the start of that year. The 2025 annual accounts show equity of €6,131 and a net result of -€7,812. Equity is shrinking by ~20.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 45% of 28184 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-41
Solvency68▼-11
Growth32=
Track record94
Bankruptcy probability, 12 months
3.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.88 against 1.79 in 2024; short-term debt: 57.4% and cash: 28.6% of total assets), and 57.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
42.6%
Return on assets
-54.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year -€7,812
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 27-07-2026, 4 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
4 d early
2024
1 d early
2023
8 d early
2022
18 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
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Financials · fiscal year 2025, micro schema
Equity
€6,131▼ 56.0%
2024 · €13,943
Total assets
€14,401▼ 43.9%
2024 · €25,663
Net result
-€7,812▼ 156%
2024 · -€3,048
Working capital
-€1,025
2024 · €6,052
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
Line2022202320242025
Operating result€10,999-€3,862▼ 64.9%-€2,449-€7,353▼ 200%
Net result€8,535-€2,456▼ 71.2%-€3,048-€7,812▼ 156%
Equity€14,535-€16,991▲ 16.9%€13,943▼ 17.9%€6,131▼ 56.0%
Total assets€42,973-€33,619▼ 21.8%€25,663▼ 23.7%€14,401▼ 43.9%
Debt€28,438-€16,628▼ 41.5%€11,720▼ 29.5%€8,270▼ 29.4%
Working capital€7,978-€9,195▲ 15.3%€6,052▼ 34.2%-€1,025
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,353 in 2025 against €2,449 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14,401
Fixed assets
€7,156 ▼ 40.2%
Current assets
€7,245 ▼ 47.1%
Equity and liabilities €14,401
Equity
€6,131 ▼ 56.0%
Debt
€8,270 ▼ 29.4%
Debt's share of the balance-sheet total rises from 45.7% to 57.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€2,546▼
2024 · €2,740
Cash flow
-€3,005▼
2024 · €2,141
Current ratio
0.88▼
2024 · 1.79
Debt to equity
1.35▲
2024 · 0.84
ROE
-127.4%▼
2024 · -21.9%
ROA
-54.2%▼
2024 · -11.9%
Interest coverage
-5.55▼
2024 · 4.46
Debt ≤ 1 year
€8,270▲
2024 · €7,648
Debt > 1 year
€0▼
2024 · €4,072
Income taxes
€0=
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,225 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 87% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.9%
went bankrupt
8.6%
stopped otherwise
87%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.5% over twelve months; the group does not contradict it.
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 3,225 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,914 | €5,008 | €5,189 | €4,807 | ▼ 7.4% |
| Other operating charges640/8 | €862 | €533 | €536 | €212 | ▼ 60.4% |
| Gross operating margin9900 | €13,775 | €9,403 | €3,276 | -€2,334 | ▼ 171% |
| Operating profit (loss)9901 | €10,999 | €3,862 | -€2,449 | -€7,353 | ▼ 200% |
| Financial income75/76B | €46 | €26 | €15 | €0 | ▼ 100% |
| Recurring financial income75 | €46 | €26 | €15 | €0 | ▼ 100% |
| Financial charges65/66B | €342 | €778 | €614 | €459 | ▼ 25.2% |
| Recurring financial charges65 | €342 | €778 | €614 | €459 | ▼ 25.2% |
| Profit (loss) for the period before taxes9903 | €10,703 | €3,110 | -€3,048 | -€7,812 | ▼ 156% |
| Income taxes67/77 | €2,168 | €654 | €0 | €0 | - |
| Profit (loss) for the period9904 | €8,535 | €2,456 | -€3,048 | -€7,812 | ▼ 156% |
| Profit (loss) for the period to be appropriated9905 | €8,535 | €2,456 | -€3,048 | -€7,812 | ▼ 156% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €42,973 | €33,619 | €25,663 | €14,401 | ▼ 43.9% |
| Formation expenses20 | €718 | €319 | €0 | €0 | - |
| Fixed assets21/28 | €20,316 | €16,833 | €11,963 | €7,156 | ▼ 40.2% |
| Tangible fixed assets22/27 | €20,316 | €16,833 | €11,963 | €7,156 | ▼ 40.2% |
| Plant, machinery and equipment23 | - | €1,012 | €637 | €262 | ▼ 58.9% |
| Furniture and vehicles24 | €20,316 | €15,821 | €11,326 | €6,894 | ▼ 39.1% |
| Current assets29/58 | €21,939 | €16,467 | €13,700 | €7,245 | ▼ 47.1% |
| Amounts receivable within one year40/41 | €5,513 | €1,734 | €491 | €3,123 | ▲ 536% |
| Trade receivables40 | €4,531 | €0 | - | €1,995 | - |
| Other amounts receivable41 | €982 | €1,734 | €491 | €1,128 | ▲ 130% |
| Cash at bank and in hand54/58 | €16,426 | €14,733 | €13,209 | €4,122 | ▼ 68.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €42,973 | €33,619 | €25,663 | €14,401 | ▼ 43.9% |
| Equity10/15 | €14,535 | €16,991 | €13,943 | €6,131 | ▼ 56.0% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €8,535 | €10,991 | €7,943 | €131 | ▼ 98.4% |
| Distributable reserves133 | €8,535 | €10,991 | €7,943 | €131 | ▼ 98.4% |
| Amounts payable17/49 | €28,438 | €16,628 | €11,720 | €8,270 | ▼ 29.4% |
| Amounts payable after more than one year17 | €14,477 | €9,356 | €4,072 | €0 | ▼ 100% |
| Financial debts170/4 | €14,477 | €9,356 | €4,072 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €13,961 | €7,272 | €7,648 | €8,270 | ▲ 8.1% |
| Current portion of amounts payable after more than one year42 | €4,965 | €5,121 | €5,284 | €4,072 | ▼ 22.9% |
| Trade debts44 | €5,512 | €145 | €608 | €2,559 | ▲ 321% |
| Suppliers440/4 | €5,512 | €145 | €608 | €2,559 | ▲ 321% |
| Taxes, remuneration and social security45 | €2,168 | €655 | €0 | - | - |
| Taxes450/3 | €2,168 | €655 | €0 | - | - |
| Other amounts payable47/48 | €1,316 | €1,351 | €1,756 | €1,639 | ▼ 6.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,535 | €2,456 | -€3,048 | -€7,812 | ▼ 156% |
| + Depreciation and write-downs630 | €1,914 | €5,008 | €5,189 | €4,807 | ▼ 7.4% |
| Operating cash flow (approximation) | €10,449 | €7,464 | €2,141 | -€3,005 | ▼ 240% |
| Investment in fixed assets (approximation) | - | -€1,525 | -€319 | €0 | ▲ 100% |
| Change in cash | - | -€1,693 | -€1,524 | -€9,087 | ▼ 496% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€7,812
Net result drops to -€7,812, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
Financial milestoneNBB 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, Herstal · 1 establishment unit since 2021
Ground area
255 m²
Building footprint
60 m²
Volume, LiDAR
543 m³
Parcel 62312A0733/00D005, Wallonia · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
LW2
since 20212.323.928.572
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62312A0733/00D005 | Wallonia | 255 m² | 1 · 60 m² | 9.8 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.
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 4,215 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
Founded26-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0776507863
Also
9925:BE0776507863
Registered
07-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.