Summary
STWOD is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €307k and a net result of €69k. Equity is growing by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 14% of 3319 sector peers (fiscal year 2024). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 3319 sector peers (2024).
NBB · sector comparisonPosition among 3319 sector peers
Solvency
better than 14%
← 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 30-09-2025, 61 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
91 d late
2022
92 d late
2021
43 d late
2020
61 d late
2019
37 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€307k▲ 29.0%
2023 · €238k
2018: €123klowest in 7 years
2019: €166k▲ +35.3% vs 2018
2020: €206k▲ +24.0% vs 2019
2021: €190k▼ -7.9% vs 2020
2022: €210k▲ +10.9% vs 2021
2023: €238k▲ +13.0% vs 2022
2024: €307k▲ +29.0% vs 2023highest in 7 years
2018 → 2024
Net result
€69k▲ 152%
2023 · €27k
2018: €9k
2019: €43k▲ +391% vs 2018
2020: €40k▼ -8.1% vs 2019
2021: €-16k▼ -141% vs 2020lowest in 7 years
2022: €21k▲ +227% vs 2021
2023: €27k▲ +32.2% vs 2022
2024: €69k▲ +152% vs 2023highest in 7 years
2018 → 2024
Total assets
€3.81M▼ 4.3%
2023 · €3.99M
2018: €2.85M
2019: €2.80M▼ -1.8% vs 2018lowest in 7 years
2020: €2.82M▲ +0.9% vs 2019
2021: €2.88M▲ +2.0% vs 2020
2022: €2.98M▲ +3.4% vs 2021
2023: €3.99M▲ +33.7% vs 2022highest in 7 years
2024: €3.81M▼ -4.3% vs 2023
2018 → 2024
Solvency
8.0%▲ 2.1pp
2023 · 6.0%
2018: 4.3%lowest in 7 years
2019: 5.9%▲ +37.8% vs 2018
2020: 7.3%▲ +22.8% vs 2019
2021: 6.6%▼ -9.7% vs 2020
2022: 7.1%▲ +7.2% vs 2021
2023: 6.0%▼ -15.5% vs 2022
2024: 8.0%▲ +34.9% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€206k-€190k▼ 7.9%€210k▲ 10.9%€238k▲ 13.0%€307k▲ 29.0%
2020: €206k
2021: €190k▼ -7.9% vs 2020lowest in 5 years
2022: €210k▲ +10.9% vs 2021
2023: €238k▲ +13.0% vs 2022
2024: €307k▲ +29.0% vs 2023highest in 5 years
Operating result€98k-€14k▼ 85.8%€58k▲ 313%€74k▲ 27.9%€174k▲ 135%
2020: €98k
2021: €14k▼ -85.8% vs 2020lowest in 5 years
2022: €58k▲ +313% vs 2021
2023: €74k▲ +27.9% vs 2022
2024: €174k▲ +135% vs 2023highest in 5 years
Net result€40k-€-16k€21k€27k▲ 32.2%€69k▲ 152%
2020: €40k
2021: €-16k▼ -141% vs 2020lowest in 5 years
2022: €21k▲ +227% vs 2021
2023: €27k▲ +32.2% vs 2022
2024: €69k▲ +152% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 135% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.81M
Fixed assets
€3.67M ▼ 5.1%
Current assets
€143k ▲ 18.1%
Equity and liabilities €3.81M
Equity
€307k ▲ 29.0%
Debt
€3.51M ▼ 6.5%
Debt's share of the balance-sheet total falls from 94.0% to 92.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
22.5%▲
2023 · 11.5%
ROA
1.8%▲
2023 · 0.7%
Debt ≤ 1 year
€323k▲
2023 · €297k
Debt > 1 year
€3.18M▼
2023 · €3.45M
Income taxes
€26k▲
2023 · €4k
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 · 2024 against 2023 · 47 lines
Balance sheet
Code20232024
Assets
Total assets20/58€3.99M€3.81M▼
Fixed assets21/28€3.86M€3.67M▼
Tangible fixed assets22/27€3.86M€3.67M▼
Land and buildings22€3.86M€3.67M▼
Plant, machinery and equipment23€4k€0▼
Furniture and vehicles24€2k€305▼
Assets under construction and advance payments27€0-
Current assets29/58€121k€143k▲
Amounts receivable within one year40/41€64k€63k▼
Trade receivables40€18k€0▼
Other amounts receivable41€46k€63k▲
Cash at bank and in hand54/58€58k€80k▲
Equity and liabilities
Total equity and liabilities10/49€3.99M€3.81M▼
Equity10/15€238k€307k▲
Contributions10/11€100k€100k=
Reserves13€138k€207k▲
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€0▼
Other1319-€1k
Distributable reserves133€137k€206k▲
Amounts payable17/49€3.75M€3.51M▼
Amounts payable after more than one year17€3.45M€3.18M▼
Financial debts170/4€2.82M€2.57M▼
Other amounts payable178/9€628k€615k▼
Amounts payable within one year42/48€297k€323k▲
Current portion of amounts payable after more than one year42€254k€264k▲
Trade debts44€33k€23k▼
Suppliers440/4€33k€23k▼
Taxes, remuneration and social security45€10k€36k▲
Taxes450/3€10k€36k▲
Accrued charges and deferred income492/3€4k€0▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€139k€164k▲
Other operating charges640/8€15k€15k▲
Gross operating margin9900€227k€353k▲
Operating profit (loss)9901€74k€174k▲
Financial income75/76B€32k€0▼
Recurring financial income75€0€0=
Non-recurring financial income76B€32k€0▼
Financial charges65/66B€74k€79k▲
Recurring financial charges65€74k€79k▲
Profit (loss) for the period before taxes9903€31k€95k▲
Income taxes67/77€4k€26k▲
Profit (loss) for the period9904€27k€69k▲
Profit (loss) for the period to be appropriated9905€27k€69k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€69k▲
Transfer to equity691/2€27k€69k▲
To other reserves6921€27k€69k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €88k | €94k | €100k | €139k | €164k | ▲ 18.4% |
| Other operating charges640/8 | - | €13k | €14k | €15k | €15k | ▲ 3.5% |
| Gross operating margin9900 | €199k | €121k | €172k | €227k | €353k | ▲ 55.3% |
| Operating profit (loss)9901 | €98k | €14k | €58k | €74k | €174k | ▲ 135% |
| Financial income75/76B | - | - | €0 | €32k | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €0 | €0 | €0 | - |
| Non-recurring financial income76B | - | - | - | €32k | €0 | ▼ 100% |
| Financial charges65/66B | - | €30k | €37k | €74k | €79k | ▲ 5.9% |
| Recurring financial charges65 | €44k | €30k | €37k | €74k | €79k | ▲ 5.9% |
| Profit (loss) for the period before taxes9903 | €54k | €-16k | €21k | €31k | €95k | ▲ 202% |
| Income taxes67/77 | €14k | €0 | - | €4k | €26k | ▲ 539% |
| Profit (loss) for the period9904 | €40k | €-16k | €21k | €27k | €69k | ▲ 152% |
| Profit (loss) for the period to be appropriated9905 | €40k | €-16k | €21k | €27k | €69k | ▲ 152% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.82M | €2.88M | €2.98M | €3.99M | €3.81M | ▼ 4.3% |
| Fixed assets21/28 | €2.64M | €2.60M | €2.68M | €3.86M | €3.67M | ▼ 5.1% |
| Tangible fixed assets22/27 | €2.64M | €2.60M | €2.68M | €3.86M | €3.67M | ▼ 5.1% |
| Land and buildings22 | - | €2.57M | €2.54M | €3.86M | €3.67M | ▼ 4.9% |
| Plant, machinery and equipment23 | - | €11k | €7k | €4k | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €21k | €11k | €2k | €305 | ▼ 82.8% |
| Assets under construction and advance payments27 | - | - | €118k | €0 | - | - |
| Current assets29/58 | €187k | €282k | €304k | €121k | €143k | ▲ 18.1% |
| Amounts receivable within one year40/41 | €31k | €50k | €140k | €64k | €63k | ▼ 0.3% |
| Trade receivables40 | - | - | €90k | €18k | €0 | ▼ 100% |
| Other amounts receivable41 | - | €50k | €50k | €46k | €63k | ▲ 39.0% |
| Cash at bank and in hand54/58 | €156k | €233k | €164k | €58k | €80k | ▲ 38.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.82M | €2.88M | €2.98M | €3.99M | €3.81M | ▼ 4.3% |
| Equity10/15 | €206k | €190k | €210k | €238k | €307k | ▲ 29.0% |
| Contributions10/11 | - | €100k | €100k | €100k | €100k | = |
| Reserves13 | €106k | €90k | €110k | €138k | €207k | ▲ 50.1% |
| Non-distributable reserves130/1 | - | €1k | €1k | €1k | €1k | = |
| Reserves not available under the articles1311 | - | €1k | €1k | €1k | €0 | ▼ 100% |
| Other1319 | - | - | - | - | €1k | - |
| Distributable reserves133 | - | €89k | €109k | €137k | €206k | ▲ 50.5% |
| Amounts payable17/49 | €2.62M | €2.69M | €2.77M | €3.75M | €3.51M | ▼ 6.5% |
| Amounts payable after more than one year17 | €2.19M | €2.28M | €2.26M | €3.45M | €3.18M | ▼ 7.7% |
| Financial debts170/4 | - | €1.96M | €1.78M | €2.82M | €2.57M | ▼ 8.9% |
| Other amounts payable178/9 | - | €320k | €481k | €628k | €615k | ▼ 2.1% |
| Amounts payable within one year42/48 | €406k | €409k | €508k | €297k | €323k | ▲ 8.9% |
| Current portion of amounts payable after more than one year42 | - | €179k | €181k | €254k | €264k | ▲ 4.1% |
| Trade debts44 | €60k | €112k | €324k | €33k | €23k | ▼ 28.9% |
| Suppliers440/4 | - | €112k | €324k | €33k | €23k | ▼ 28.9% |
| Taxes, remuneration and social security45 | - | €14k | €3k | €10k | €36k | ▲ 246% |
| Taxes450/3 | - | €14k | €3k | €10k | €36k | ▲ 246% |
| Other amounts payable47/48 | - | €103k | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | €1k | €0 | €4k | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40k | €-16k | €21k | €27k | €69k | ▲ 152% |
| + Depreciation and write-downs630 | €88k | €94k | €100k | €139k | €164k | ▲ 18.4% |
| Operating cash flow (approximation) | €128k | €78k | €121k | €166k | €233k | ▲ 40.4% |
| Investment in fixed assets (approximation) | - | €-56k | €-178k | €-1.33M | €31k | ▲ 102% |
| Change in cash | - | €77k | €-69k | €-106k | €22k | ▲ 121% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Highest result since 2018net €69k ▲152%
Operating result €174k, net result €69k, both a record.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 91 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
31-12
Financial
Equity above €200kEq €210k ▲10.9%
Equity rises from €190k to €210k.
12-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 43 days late
2021
31-12
Financial
Weakest financial yearnet €-16k
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Equity above €200kEq €206k ▲24%
3 profitable years in a row build equity to €206k.
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150kEq €166k ▲35.3%
2 profitable years in a row build equity to €166k.
Show earlier events
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Aalter · 1 establishment unit since 2013
Ground area
1,566 m²
Building footprint
144 m²
Volume, LiDAR
714 m³
Parcel 44035B0075/00Y000, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
STWOD
since 20132.223.933.252
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44035B0075/00Y000 | Flanders | 1,566 m² | 1 · 144 m² | 7.1 m · 2 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 591 companies in sector 66300 we hold annual accounts for 365. 242 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
Founded13-08-2013
Fiscal year end31-12
Activities, NACEBEL 2025
66300Activities auxiliary to financial services and insurance activities
Contact
E-mail
ufo@oldtimerfarm.beAalter
Phone
0472401338Aalter
Scores and ratios are computed by Checked and are not a credit decision.