BW REAL ESTATE & SERVICES
ActiveSummary
BW REAL ESTATE & SERVICES has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €66,875 and a net result of €14,229. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+9
Solvency61▲+7
Growth78
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity short (current ratio 0.34 against 0.28 in 2023; short-term debt: 37.4% and cash: 4% of total assets), and 63.8% of the assets are financed with debt.
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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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% 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 2024Solvency, return and age of the figures
Solvency
36.2%
Return on assets
7.7%
Age of the figures
24 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-05-2026, 31 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 · 3 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 31 May (3 of the last 3 filed years within 37 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
€66,875▲ 27.0%
2023 · €52,646
Total assets
€184,905▲ 2.5%
2023 · €180,399
Net result
€14,229▲ 2,839%
2023 · €484
Working capital
-€45,712▼ 3.4%
2023 · -€44,223
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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
Line20232024
Operating result€784-€19,568▲ 2,396%
Net result€484below the sector's middle half-€14,229within the sector's middle half▲ 2,839%
Equity€52,646within the sector's middle half-€66,875within the sector's middle half▲ 27.0%
Total assets€180,399within the sector's middle half-€184,905within the sector's middle half▲ 2.5%
Debt€127,753-€118,030▼ 7.6%
Working capital-€44,223below the sector's middle half--€45,712below the sector's middle half▼ 3.4%
Solvency29.2%below the sector's middle half-36.2%within the sector's middle half▲ 7.0pp
Current ratio0.28below the sector's middle half-0.34below the sector's middle half▲ 0.06
Return on assets (ROA)0.3%below the sector's middle half-7.7%within the sector's middle half▲ 7.4pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2024; 2024 is 2,396% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €184,905
Fixed assets
€161,406 ▼ 1.2%
Current assets
€23,500 ▲ 38.3%
Equity and liabilities €184,905
Equity
€66,875 ▲ 27.0%
Debt
€118,030 ▼ 7.6%
Debt's share of the balance-sheet total falls from 70.8% to 63.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€21,568▲
2023 · €3,163
Cash flow
€16,229▲
2023 · €2,864
Debt to equity
1.76▼
2023 · 2.43
ROE
21.3%▲
2023 · 0.9%
Interest coverage
105.70▲
2023 · 10.55
Debt ≤ 1 year
€69,211▲
2023 · €61,217
Debt > 1 year
€48,819▼
2023 · €66,536
Income taxes
€5,180
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €19,733 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,380 | €2,000 | ▼ 16.0% |
| Other operating charges640/8 | €348 | €384 | ▲ 10.6% |
| Gross operating margin9900 | €23,244 | €21,953 | ▼ 5.6% |
| Operating profit (loss)9901 | €784 | €19,568 | ▲ 2,396% |
| Financial income75/76B | - | €45 | - |
| Recurring financial income75 | - | €45 | - |
| Financial charges65/66B | €300 | €204 | ▼ 31.9% |
| Recurring financial charges65 | €300 | €204 | ▼ 31.9% |
| Profit (loss) for the period before taxes9903 | €484 | €19,409 | ▲ 3,909% |
| Income taxes67/77 | - | €5,180 | - |
| Profit (loss) for the period9904 | €484 | €14,229 | ▲ 2,839% |
| Profit (loss) for the period to be appropriated9905 | €484 | €14,229 | ▲ 2,839% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €180,399 | €184,905 | ▲ 2.5% |
| Fixed assets21/28 | €163,406 | €161,406 | ▼ 1.2% |
| Tangible fixed assets22/27 | €6,132 | €4,132 | ▼ 32.6% |
| Other tangible fixed assets26 | €6,132 | €4,132 | ▼ 32.6% |
| Financial fixed assets28 | €157,274 | €157,274 | = |
| Current assets29/58 | €16,994 | €23,500 | ▲ 38.3% |
| Amounts receivable after more than one year29 | - | €184 | - |
| Trade receivables290 | - | €184 | - |
| Amounts receivable within one year40/41 | €9,996 | €15,864 | ▲ 58.7% |
| Trade receivables40 | €6,521 | €8,895 | ▲ 36.4% |
| Other amounts receivable41 | €3,475 | €6,969 | ▲ 101% |
| Cash at bank and in hand54/58 | €3,947 | €7,451 | ▲ 88.8% |
| Deferred charges and accrued income490/1 | €3,050 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €180,399 | €184,905 | ▲ 2.5% |
| Equity10/15 | €52,646 | €66,875 | ▲ 27.0% |
| Contributions10/11 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €32,186 | €46,415 | ▲ 44.2% |
| Amounts payable17/49 | €127,753 | €118,030 | ▼ 7.6% |
| Amounts payable after more than one year17 | €66,536 | €48,819 | ▼ 26.6% |
| Financial debts170/4 | €66,536 | €48,819 | ▼ 26.6% |
| Amounts payable within one year42/48 | €61,217 | €69,211 | ▲ 13.1% |
| Trade debts44 | €61,217 | €64,031 | ▲ 4.6% |
| Suppliers440/4 | €61,217 | €64,031 | ▲ 4.6% |
| Taxes, remuneration and social security45 | - | €5,180 | - |
| Taxes450/3 | - | €5,180 | - |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €484 | €14,229 | ▲ 2,839% |
| + Depreciation and write-downs630 | €2,380 | €2,000 | ▼ 16.0% |
| Operating cash flow (approximation) | €2,864 | €16,229 | ▲ 467% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | €3,504 | - |
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
31-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
29-05
State Gazette act
Resignations: Michaël SPANOUDIS (manager) and Pierre-François WIERRE (manager)Reappointment: Pierre-François WIERRE (non-statutory director) · Appointment: Thierry BORRY (non-statutory director) · Name change14 facts ▸
State Gazette act
Resignations: Michaël SPANOUDIS (manager) and Pierre-François WIERRE (manager)
Reappointment: Pierre-François WIERRE (non-statutory director) · Appointment: Thierry BORRY (non-statutory director) · Name change14 facts ▸
- General meeting, 20-05-2026
- Name change, BW REAL ESTATE & SERVICES
- Other statement, DEUXIEME RESOLUTION, rapport de l’organe d’administration
- Legal-form conversion, SRL
- Capital conversion, compte de capitaux propres statutairement indisponible
- Statutes amendment
- Capital
- Director resignation, Michaël SPANOUDIS (manager)
- Director resignation, Pierre-François WIERRE (manager)
- Director reappointment, Pierre-François WIERRE (non-statutory director)
- Director appointment, Thierry BORRY (non-statutory director)
- Director discharge, Michaël SPANOUDIS
- +2 further facts in this act
2025
31-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
State Gazette actNBB filing
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Thierry BORRY
CurrentNon-statutory director · since 31-03-2026
Pierre-François WIERRE
CurrentNon-statutory director
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Koekelberg · 1 establishment unit since 2009
Ground area
902 m²
Building footprint
649 m²
Volume, LiDAR
11,984 m³
Parcel 21011A0013/00T000, Brussels · tallest building 23.3 m, ±6 floors. Linked by address, not a title deed.
24
companies at this address
See who is registered here
1 establishment unit
Kasteellaan 58, 1081 Koekelberg
since 20092.303.039.722
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21011A0013/00T000 | Brussels | 902 m² | 1 · 649 m² | 23.3 m · 6 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.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Thierry BORRY |
|
| Pierre-François WIERRE |
|
| Michaël SPANOUDIS |
|
Articles of association
Duration
Unlimited
Name clause
BW REAL ESTATE & SERVICES
Registered office clause
Région de Bruxelles-Capitale, Article 2.Siège
Other statement
Date applicabilité Code des sociétés et des associations, compte de capitaux propres statutairement indisponible
Seul ou conjointement fixé par organe, gestion journalière et représentation pour cette gestion
Article 15. Contrôle de la société
E-mails quinze jours au moins, tenue et convocation assemblée générale
Admission assemblée générale et vote, inscrit registre titres nominatifs
Séances procès-verbaux, tenu au siège pour décisions assemblée ou actionnaire unique
Délibérations, actions sans droit de vote
Organe d'administration, prorogation assemblée
Répartition réserves, réduit perte reportée ou majoré bénéfice reporté
Siège, élection de domicile
Compétence judiciaire, société actionnaires administrateurs commissaires liquidateurs affaires et statuts
Droit commun
Capital contribution
Article 7. Appels de fonds
Share class
Nominatives, requises par Code des sociétés et des associations
Board rule
Avec ou sans limitation, assemblée fixe nombre,durée,pouvoirs si pluralité
Frais de représentation,voyages et déplacements, rémunération des administrateurs
Dissolution rule
Assemblée générale, prévues pour modifications aux statuts
Liquidation rule
Si aucun autre liquidateur désigné, administrateurs en fonction
Liquidation distribution
Actif net entre actionnaires en proportion actions, remis même proportion
Share issue rule
Actions nouvelles à souscrire en numéraire, priorité actionnaires ayant exercé totalité droit jusqu'à souscription complète
Transfer restriction
Moitié cédant moitié acquéreurs au prorata, commun accord ou président tribunal de l'entreprise en référé à requête partie diligente
Structure & network
Owners and holdings
1 owner · 1 holding · 2 subsidiaries in the treeChain of control
- WIERRE CONSULTING
- BW REAL ESTATE & SERVICES
Highest known parent: WIERRE CONSULTING. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
-
100%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
According to the annual accounts to 30-09-2024 of BW REAL ESTATE & SERVICES and those 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
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Capital and shareholders
Capital over the years
- 29-05-2026 Converted to unavailable equity
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Of 12,174 companies in sector 69201 we hold annual accounts for 7,641. 6,236 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
Founded21-04-2009
Fiscal year end30-09
Legal name FR
MT FINANCES
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0811258114
Registered
05-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.