PROPER AFVALWATER
ActiveSummary
PROPER AFVALWATER has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €87k and a net result of €3k. Its solvency ranks better than 29% of 9460 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability29▼-71
Solvency55▼-17
Growth52
Track record82
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.8 in 2024; short-term debt: 63.2% and cash: 1.5% of total assets), but 69.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Sector 71
lower
← fewer bankruptcies
more bankruptcies →
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
30.3%
Return on assets
0.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 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 · 2 filingsDeviation from the deadline
2025
31 d late
2024
29 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€87k▲ 3.1%
2024 · €85k
2024: €85k
2024 → 2025
Total assets
€289k▲ 59.0%
2024 · €182k
2024: €182k
2024 → 2025
Net result
€3k▼ 94.8%
2024 · €50k
2024: €50k
2024 → 2025
Working capital
€97k▲ 24.8%
2024 · €77k
2024: €77k
2024 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Equity€85k-€87k▲ 3.1%
Operating result€62k-€3k▼ 95.0%
Net result€50k-€3k▼ 94.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 95% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €289k
Fixed assets
€10k ▲ 32.3%
Current assets
€279k ▲ 60.2%
Equity and liabilities €289k
Equity
€87k ▲ 3.1%
Debt
€202k ▲ 108%
Debt's share of the balance-sheet total rises from 53.3% to 69.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€5k▼
2024 · €63k
Cash flow
€5k▼
2024 · €51k
Current ratio
1.53▼
2024 · 1.80
Quick ratio
1.37▼
2024 · 1.58
Debt to equity
2.30▲
2024 · 1.14
ROE
3.0%▼
2024 · 58.8%
ROA
0.9%▼
2024 · 27.4%
Interest coverage
1.09▼
2024 · 84535.31
Debt ≤ 1 year
€183k▲
2024 · €97k
Debt > 1 year
€19k
Income taxes
€1k▼
2024 · €12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€182k€289k▲
Fixed assets21/28€8k€10k▲
Tangible fixed assets22/27€8k€10k▲
Plant, machinery and equipment23€6k€6k▲
Furniture and vehicles24€1k€4k▲
Current assets29/58€174k€279k▲
Stocks and contracts in progress3€21k€28k▲
Stocks30/36€21k€18k▼
Contracts in progress37-€10k
Amounts receivable within one year40/41€136k€246k▲
Trade receivables40€123k€200k▲
Other amounts receivable41€14k€47k▲
Cash at bank and in hand54/58€16k€4k▼
Equity and liabilities
Total equity and liabilities10/49€182k€289k▲
Equity10/15€85k€87k▲
Contributions10/11€35k€35k=
Reserves13-€52k
Distributable reserves133-€52k
Profit (loss) carried forward14€50k€479▼
Amounts payable17/49€97k€202k▲
Amounts payable after more than one year17-€19k
Financial debts170/4-€19k
Amounts payable within one year42/48€97k€183k▲
Financial debts43-€40k
Credit institutions430/8-€40k
Trade debts44€76k€126k▲
Suppliers440/4€76k€126k▲
Taxes, remuneration and social security45€12k€16k▲
Taxes450/3€12k€16k▲
Other amounts payable47/48€9k€893▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€2k▲
Other operating charges640/8€620€2k▲
Gross operating margin9900€64k€7k▼
Operating profit (loss)9901€62k€3k▼
Financial income75/76B€1€6k▲
Recurring financial income75€1€6k▲
Financial charges65/66B€1€5k▲
Recurring financial charges65€1€5k▲
Profit (loss) for the period before taxes9903€62k€4k▼
Income taxes67/77€12k€1k▼
Profit (loss) for the period9904€50k€3k▼
Profit (loss) for the period to be appropriated9905€50k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€50k€52k▲
Profit (loss) brought forward from the previous period14P-€50k
Transfer to equity691/2-€52k
To other reserves6921-€52k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
NBB filing
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, Kruisem · 1 establishment unit since 2023
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Olsensesteenweg(KRU) 729770 KruisemGround area
973 m²
Building footprint
163 m²
Volume, LiDAR
986 m³
Parcel 45017D0046/00M000, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Proper Afvalwater
since 20232.354.606.704
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45017D0046/00M000 | Flanders | 973 m² | 1 · 163 m² | 10.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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RTCO
BE 1014.209.234
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COMPAGNIE SMITS van INNIS
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FMI Consult
BE 0728.975.586
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Of 11,550 companies in sector 71121 we hold annual accounts for 6,563. 5,207 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-12-2023
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.