SOWALCO
ActiveSummary
SOWALCO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €26,930 and a net result of -€12,576. Equity is shrinking by ~26.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability21▼-19
Solvency39▼-6
Growth58=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.19 against 1.28 in 2023; short-term debt: 83.8% and cash: 0.1% of total assets), and 86.1% 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 · 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
13.9%
Return on assets
-6.5%
Age of the figures
21 mo
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 19-06-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 d early
2024
18 d late
2023
29 d late
2022
28 d late
2021
26 d late
2020
30 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 26 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 26 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema, 2025 accounts filed, figures not processed yet
Equity
€26,930▼ 31.8%
2023 · €39,506
Total assets
€194,435▼ 0.4%
2023 · €195,313
Net result
-€12,576
2023 · €2,125
Working capital
€31,547▼ 25.9%
2023 · €42,580
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€158-€6,418-€50,042▼ 680%€5,419-€7,842
Net result-€334▲ 99.6%-€6,897▼ 1,965%-€51,821▼ 651%€2,125-€12,576
Equity€96,100▼ 0.3%€89,203▼ 7.2%€37,382▼ 58.1%€39,506▲ 5.7%€26,930▼ 31.8%
Total assets€243,986▲ 0.3%€243,338▼ 0.3%€195,770▼ 19.5%€195,313▼ 0.2%€194,435▼ 0.4%
Debt€147,886▲ 0.7%€154,135▲ 4.2%€158,389▲ 2.8%€155,807▼ 1.6%€167,505▲ 7.5%
Working capital€96,431▼ 0.8%€89,569▼ 7.1%€39,087▼ 56.4%€42,580▲ 8.9%€31,547▼ 25.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €7,842 after €5,419 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €194,435
Equity
€26,930 ▼ 31.8%
Debt
€167,505 ▲ 7.5%
Debt's share of the balance-sheet total rises from 79.8% to 86.1%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.19▼
2023 · 1.28
Quick ratio
0.00▼
2023 · 0.01
Debt to equity
6.22▲
2023 · 3.94
ROE
-46.7%▼
2023 · 5.4%
ROA
-6.5%▼
2023 · 1.1%
Debt ≤ 1 year
€162,888▲
2023 · €152,733
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,450 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.5%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 2,450 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,658 | €13,318 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €45,000 | - | - | - |
| Other operating charges640/8 | - | €598 | €604 | €663 | €681 | ▲ 2.8% |
| Gross operating margin9900 | €755 | -€5,819 | -€4,438 | €6,082 | -€7,161 | ▼ 218% |
| Operating profit (loss)9901 | €158 | -€6,418 | -€50,042 | €5,419 | -€7,842 | ▼ 245% |
| Financial income75/76B | - | €79 | €0 | - | - | - |
| Recurring financial income75 | €8 | €79 | €0 | - | - | - |
| Financial charges65/66B | - | €558 | €1,779 | €3,294 | €4,734 | ▲ 43.7% |
| Recurring financial charges65 | €500 | €558 | €1,779 | €3,294 | €4,734 | ▲ 43.7% |
| Profit (loss) for the period before taxes9903 | -€334 | -€6,897 | -€51,821 | €2,125 | -€12,576 | ▼ 692% |
| Profit (loss) for the period9904 | -€334 | -€6,897 | -€51,821 | €2,125 | -€12,576 | ▼ 692% |
| Profit (loss) for the period to be appropriated9905 | -€334 | -€6,897 | -€51,821 | €2,125 | -€12,576 | ▼ 692% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €243,986 | €243,338 | €195,770 | €195,313 | €194,435 | ▼ 0.4% |
| Current assets29/58 | €243,986 | €243,338 | €195,770 | €195,313 | €194,435 | ▼ 0.4% |
| Stocks and contracts in progress3 | €239,233 | €239,233 | €194,233 | €194,233 | €194,233 | = |
| Stocks30/36 | - | €239,233 | €194,233 | €194,233 | €194,233 | = |
| Amounts receivable within one year40/41 | €3,443 | €1,097 | €1,393 | €676 | €13 | ▼ 98.1% |
| Other amounts receivable41 | - | €1,097 | €1,393 | €676 | €13 | ▼ 98.1% |
| Cash at bank and in hand54/58 | €1,302 | €2,929 | €144 | €405 | €189 | ▼ 53.3% |
| Deferred charges and accrued income490/1 | - | €79 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €243,986 | €243,338 | €195,770 | €195,313 | €194,435 | ▼ 0.4% |
| Equity10/15 | €96,100 | €89,203 | €37,382 | €39,506 | €26,930 | ▼ 31.8% |
| Contributions10/11 | €173,525 | €173,525 | €173,525 | €173,525 | €173,525 | = |
| Capital10 | - | €173,525 | €173,525 | €173,525 | €173,525 | = |
| Issued capital100 | - | €173,525 | €173,525 | €173,525 | €173,525 | = |
| Reserves13 | €17,646 | €17,646 | €17,646 | €17,646 | €17,646 | = |
| Non-distributable reserves130/1 | - | €17,353 | €17,353 | €17,353 | €17,353 | = |
| Legal reserve130 | - | €17,353 | €17,353 | €17,353 | €17,353 | = |
| Tax-exempt reserves132 | - | €293 | €293 | €293 | €293 | = |
| Profit (loss) carried forward14 | -€95,072 | -€101,968 | -€153,790 | -€151,665 | -€164,241 | ▼ 8.3% |
| Amounts payable17/49 | €147,886 | €154,135 | €158,389 | €155,807 | €167,505 | ▲ 7.5% |
| Amounts payable within one year42/48 | €147,554 | €153,768 | €156,683 | €152,733 | €162,888 | ▲ 6.6% |
| Trade debts44 | €1,661 | €4,639 | €4,195 | €3,709 | €2,822 | ▼ 23.9% |
| Suppliers440/4 | - | €4,639 | €4,195 | €3,709 | €2,822 | ▼ 23.9% |
| Other amounts payable47/48 | - | €149,129 | €152,488 | €149,024 | €160,066 | ▲ 7.4% |
| Accrued charges and deferred income492/3 | - | €366 | €1,705 | €3,074 | €4,617 | ▲ 50.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€334 | -€6,897 | -€51,821 | €2,125 | -€12,576 | ▼ 692% |
| Operating cash flow (approximation) | -€334 | -€6,897 | -€51,821 | €2,125 | -€12,576 | ▼ 692% |
| Change in cash | - | €1,628 | -€2,785 | €261 | -€216 | ▼ 183% |
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
19-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
17-06
State Gazette act
Permanent representative: Filip DERVEAUXShareholding4 facts ▸
State Gazette act
Permanent representative: Filip DERVEAUX
Shareholding4 facts ▸
- Shareholding, V13 BV
- Permanent representative, Filip DERVEAUX (permanent representative)
- Permanent representative, Filip DERVEAUX (permanent representative)
- Director in office, RSV NV (director)
16-06
State Gazette act
RestructuringPermanent representative: Filip DERVEAUX · Appointment: RSV NV (sole director) · Merger50 facts ▸
State Gazette act
Restructuring
Permanent representative: Filip DERVEAUX · Appointment: RSV NV (sole director) · Merger50 facts ▸
- Board meeting, 19-05-2026
- Board meeting, 19-05-2026
- Permanent representative, Filip DERVEAUX (permanent representative)
- Permanent representative, Filip DERVEAUX (permanent representative)
- Director appointment, RSV NV (sole director)
- Director appointment, RSV NV (sole director)
- Merger, fusie door overneming, fractiewaarde
- Other statement, doen wat in macht ligt om fusie tot stand te brengen tegen hierna gemelde voorwaarden, verbintenis totstandbrenging fusie
- Other statement, recentste jaarrekening en tussentijdse cijfers, voorstel opgemaakt binnen zes maanden na afsluiting vorig boekjaar
- Incorporation, 18-02-1983
- Other statement, proces-verbaal, statutenwijziging
- Capital, €100.000
- +38 further facts in this act
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Back to profitnet €2,125
Net result €2,125 after 5 loss-making years.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet -€80,179
Net result drops to -€80,179, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 2 have been read. The other 7 have 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 2022
Board 2
RESIDENTIELE STADSKERN VERDICHTING afgekort RSV
CurrentSole director · since 29-12-2022 · Public limited company · perm. rep.: Filip DERVEAUX
RSV NV
CurrentSole director · since 16-06-2026 · Legal entity · from a recent act
Permanent representatives 1
Filip DERVEAUX
CurrentPermanent representative · since 29-12-2022 · for RESIDENTIELE STADSKERN VERDICHTING afgekort RSV
"From a recent act": read from a Gazette act not yet processed into our list of directors.
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
7 of this company's 9 Belgian State Gazette acts have 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, Gent · 1 establishment unit since 1992
Ground area
2,580 m²
Building footprint
321 m²
Parcel 44815F1568/00H000, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Turrepoortsteeg 2, 9000 Gent
since 19922.057.394.546
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44815F1568/00H000 | Flanders | 2,580 m² | 1 · 320 m² | - |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Mandate history
2 people since 2022, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| RESIDENTIELE STADSKERN VERDICHTING afgekort RSV |
|
| RSV NVfrom an act |
|
Articles of association
Annual meeting
Second Monday of June at 16:00
Other statement
One provision in the deed
Registered office clause
Vlaams Gewest, 9000 GENT,Turrepoortsteeg 2
Structure & network
Owners and holdings
1 ownerOwners 1
-
100%
Holdings 0
The accounts to 31-12-2024 list no holdings, and no other source names one.
According to the 2024 annual accounts of SOWALCO 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
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Linked via shared directors
DERIMMO
Shared corporate director
→
Acquisitions and mergers
1 transactionTaken over by:DERIMMO NV
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 17-06-2026 ↗
- V13 BV (BE 0879.159.104) all shares
Stated in the act
act of 16-06-2026 ↗
- V13 BV (BE 0879.159.104) 700 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 16-06-2026 Capital stated in the act · 173,525.47 EUR · 700 shares
Company details
Identification
Legal formPublic limited company
Founded07-03-1992
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447056667
Also
9925:BE0447056667
Registered
25-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.