Redwire Space
ActiveThe annual accounts of Redwire Space for fiscal year 2024 show a net loss of 131% of the equity at the start of that year. The 2024 annual accounts show equity of €1.11M and a net result of €-4.52M. Equity is shrinking by ~12.6% per year across the filed fiscal years. Its solvency ranks better than 11% of 1113 sector peers (fiscal year 2024). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
37
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability1▼-4
Solvency28▼-6
Growth46▼-9
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days 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 0.92 against 0.91 in 2023; short-term debt: 90.3% and cash: 7% of total assets), and 96.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 71
Relative position
BE, all sectors
reference
Sector 71
lower
← 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
3.4%
Return on assets
-13.6%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
19202122222324
2019 to 2024 · latest year €-4.52M
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 1113 sector peers (2024).
NBB · sector comparisonPosition among 1113 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-09-2025, 46 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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
46 d late
2023
56 d early
2022
8 d late
2022
73 d early
2021
87 d early
2020
106 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema, statutory
Turnover
€45.56M▼ 18.9%
2023 · €56.17M
2019: €23.35M
2020: €27.57M
2021: €37.66M
2022: €44.74M
2022: €33.75M
2023: €56.17M
2019 → 2024
EBIT margin
-15.7%▼ 10.2pp
2023 · -5.6%
2019: 7.5%
2020: 3.4%
2021: 3.7%
2022: 6.1%
2022: 8.9%
2023: -5.6%
2019 → 2024
Net result
€-4.52M▼ 13.0%
2023 · €-4.00M
2019: €1.17M
2020: €577k
2021: €920k
2022: €4.47M
2022: €2.19M
2023: €-4.00M
2019 → 2024
Working capital
€-2.33M▲ 21.5%
2023 · €-2.97M
2019: €1.64M
2020: €1.01M
2021: €2.31M
2022: €650k
2022: €910k
2023: €-2.97M
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202220232024Trend
Turnover€37.66M-€44.74M▲ 18.8%€33.75M▼ 24.6%€56.17M▲ 66.4%€45.56M▼ 18.9%
Equity€6.28M-€6.25M▼ 0.5%€7.44M▲ 19.1%€3.44M▼ 53.7%€1.11M▼ 67.6%
Operating result€1.41M-€2.73M▲ 94.0%€3.02M▲ 10.5%€-3.13M€-7.17M▼ 129%
Net result€920k-€4.47M▲ 385%€2.19M▼ 50.9%€-4.00M€-4.52M▼ 13.0%
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €33.18M
Fixed assets
€5.54M▼ 18.0%
Current assets
€27.64M▼ 8.1%
Equity and liabilities €33.18M
Equity
€1.11M▼ 67.6%
Provisions
€545k▲ 60.9%
Debt
€31.52M▼ 4.6%
The debt ratio rises from 89.7% to 95.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-5.52M▼
2023 · €-2.00M
Cash flow
€-2.86M▼
2023 · €-2.86M
Solvency
3.4%▼
2023 · 9.3%
Current ratio
0.92▲
2023 · 0.91
Quick ratio
0.43▼
2023 · 0.50
Debt / equity
28.27▲
2023 · 9.61
ROE
-405.1%▼
2023 · -116.2%
ROA
-13.6%▼
2023 · -10.9%
Interest coverage
-5.92▼
2023 · -5.60
Debt
€31.52M▼
2023 · €33.05M
Debt ≤ 1 year
€29.97M▼
2023 · €33.05M
Income taxes
€-242k▼
2023 · €699k
Staff costs
€13.44M▲
2023 · €13.20M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€36.83M€33.18M▼
Fixed assets21/28€6.75M€5.54M▼
Intangible fixed assets21€3.87M€3.18M▼
Tangible fixed assets22/27€2.76M€2.21M▼
Plant, machinery and equipment23€515k€543k▲
Furniture and vehicles24€6k€0▼
Other tangible fixed assets26€2.24M€1.67M▼
Financial fixed assets28€117k€142k▲
Affiliated companies280/1€52k€125k▲
Participating interests280€52k€125k▲
Companies linked by participating interests282/3€48k-
Participating interests282€48k-
Other financial fixed assets284/8€17k€17k▲
Amounts receivable and cash guarantees285/8€17k€17k▲
Current assets29/58€30.08M€27.64M▼
Stocks and contracts in progress3€13.44M€14.88M▲
Contracts in progress37€13.44M€14.88M▲
Amounts receivable within one year40/41€10.58M€8.47M▼
Trade receivables40€8.74M€7.33M▼
Other amounts receivable41€1.84M€1.15M▼
Cash at bank and in hand54/58€2.64M€2.33M▼
Deferred charges and accrued income490/1€3.42M€1.95M▼
Equity and liabilities
Total equity and liabilities10/49€36.83M€33.18M▼
Equity10/15€3.44M€1.11M▼
Contributions10/11€1.00M€3.19M▲
Capital10€1.00M€3.19M▲
Issued capital100€1.00M€3.19M▲
Reserves13€100k€100k=
Non-distributable reserves130/1€100k€100k=
Legal reserve130€100k€100k=
Profit (loss) carried forward14€2.34M€-2.18M▼
Provisions and deferred taxes16€339k€545k▲
Provisions for liabilities and charges160/5€339k€545k▲
Pensions and similar obligations160€339k€339k=
Other liabilities and charges164/5-€206k
Amounts payable17/49€33.05M€31.52M▼
Amounts payable within one year42/48€33.05M€29.97M▼
Trade debts44€21.52M€18.06M▼
Suppliers440/4€21.52M€18.06M▼
Advances received on contracts in progress46€3.59M€2.10M▼
Taxes, remuneration and social security45€3.33M€2.36M▼
Taxes450/3€690k€592k▼
Remuneration and social security454/9€2.64M€1.77M▼
Other amounts payable47/48€4.61M€7.45M▲
Accrued charges and deferred income492/3€40€1.55M▲
Income statement
Code20232024
Operating income70/76A€49.34M€49.31M▼
Turnover70€56.17M€45.56M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-9.08M€2.29M▲
Own construction capitalised72€656k-
Other operating income74€1.59M€1.45M▼
Operating charges60/66A€52.47M€56.48M▲
Goods for resale, raw materials and consumables60€27.29M€34.37M▲
Purchases600/8€27.29M€34.37M▲
Services and other goods61€10.69M€5.90M▼
Remuneration, social security and pensions62€13.20M€13.44M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.13M€1.65M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€854k
Provisions for liabilities and charges: additions (uses and reversals)635/8€61k€206k▲
Other operating charges640/8€97k€52k▼
Operating profit (loss)9901€-3.13M€-7.17M▼
Financial income75/76B€211k€4.42M▲
Recurring financial income75€211k€24k▼
Other financial income752/9€211k€24k▼
Non-recurring financial income76B-€4.40M
Financial charges65/66B€377k€2.01M▲
Recurring financial charges65€377k€2.01M▲
Debt charges650€357k€933k▲
Other financial charges652/9€20k€1.07M▲
Non-recurring financial charges66B€0€0▼
Profit (loss) for the period before taxes9903€-3.30M€-4.76M▼
Income taxes67/77€699k€-242k▼
Taxes670/3€699k€74k▼
Tax adjustments and reversals of tax provisions77-€316k
Profit (loss) for the period9904€-4.00M€-4.52M▼
Profit (loss) for the period to be appropriated9905€-4.00M€-4.52M▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.34M€-2.18M▼
Profit (loss) brought forward from the previous period14P€6.34M€2.34M▼
Social balance
Average headcount (FTE)9087122.5130.1▲
The notes to these accounts (55 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
15-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 46 days late
2024
31-12
Financial
Weakest financial yearnet €-4.52M
Net result drops to €-4.52M, the lowest in the series.
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
2023
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 8 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Highest result since 2019net €4.47M ▲385%
Net result €4.47M, the highest in the series.
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Equity above €5MEq €5.36M ▲12.1%
2 profitable years in a row build equity to €5.36M.
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-12-2025
Jonathan Baliff: Resigned as Director
24-06-2025
Erik Masure: Resigned as Director
11-12-2024
Nathan O'Konek: Resigned as Managing director
26-04-2024
Nathan O'Konek: Resigned as Director
31-10-2022
Andrew Thorp: Resigned as Director
31-10-2022
James Graham: Resigned as Director
31-10-2022
Nicolas Anderson: Resigned as Director
30-04-2018
John Anderson: Resigned as Director
15-02-2017
Sanjay Razdan: Resigned as Director
Location & real-estate footprint
Registered office, Beveren-Kruibeke-Zwijndrecht · 2 establishment units since 1991
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.
Hogenakkerhoekstraat 99150 Beveren-Kruibeke-ZwijndrechtGround area
1.2 ha
Building footprint
5,176 m²
Volume, LiDAR
26,511 m³
2 parcels, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
VERHAERT DESIGN
since 19912.053.389.733
VERHAERT SPACE
since 20052.150.441.401
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46013A0043/00F000 | Flanders | 6,982 m² | 1 · 3,111 m² | 7.1 m · 2 fl. |
| 46013A0045/00A000 | Flanders | 4,813 m² | 1 · 2,065 m² | 7.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 13 entries · 332,067 EUR awarded · 316,360 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 4 | 8,909 EUR | 8,909 EUR |
| 2024 | 3 | 12,634 EUR | 83,634 EUR |
| 2023 | 3 | 20,087 EUR | 211,087 EUR |
| 2022 | 3 | 290,437 EUR | 12,730 EUR |
Schemes
Innovatieprojecten in de context van een speerpuntcluster
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
European research
1 project · 30,000 EUR EU contributionProgrammes
h2020
Projects
SPACE TRAFFIC MANAGEMENT FOR XXI CENTURY SPACE OPERATIONS
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Of 11,554 companies in sector 71121 we hold annual accounts for 6,557. 3,248 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-11-1989
Fiscal year end31-12
Activities, NACEBEL
71121Engineering and related technical consultancy, excluding land surveyors
74203
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.