Sun2watt
ActiveSummary
Sun2watt has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €123,251 and a net result of €13,292. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 54% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-9
Solvency76▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 2.01 against 2.07 in 2024; short-term debt: 49.5% and cash: 5.2% of total assets), and 49.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
50.5%
Return on assets
5.4%
Age of the figures
9 mo
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
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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
153 d late
2023
72 d late
2022
63 d late
2021
78 d late
2020
223 d late
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 99 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, micro schema
Equity
€123,251▲ 12.1%
2024 · €109,959
Total assets
€243,896▲ 15.9%
2024 · €210,455
Net result
€13,292▼ 52.5%
2024 · €28,012
Working capital
€122,034▲ 13.2%
2024 · €107,779
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1,260-€11,542▼ 816%-€4,935▲ 57.2%€29,704€17,661▼ 40.5%
Net result-€1,856-€12,493▼ 573%-€6,024▲ 51.8%€28,012€13,292▼ 52.5%
Equity€100,462▼ 1.8%€87,970▼ 12.4%€81,946▼ 6.8%€109,959▲ 34.2%€123,251▲ 12.1%
Total assets€225,266▲ 86.6%€255,871▲ 13.6%€208,281▼ 18.6%€210,455▲ 1.0%€243,896▲ 15.9%
Debt€124,804▲ 579%€167,902▲ 34.5%€126,335▼ 24.8%€100,496▼ 20.5%€120,645▲ 20.0%
Working capital€97,900▲ 5.6%€145,743▲ 48.9%€78,804▼ 45.9%€107,779▲ 36.8%€122,034▲ 13.2%
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 41% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €243,896
Fixed assets
€1,217 ▼ 44.2%
Current assets
€242,679 ▲ 16.5%
Equity and liabilities €243,896
Equity
€123,251 ▲ 12.1%
Debt
€120,645 ▲ 20.0%
Debt's share of the balance-sheet total rises from 47.8% to 49.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18,624▼
2024 · €30,667
Cash flow
€14,255▼
2024 · €28,975
Current ratio
2.01▼
2024 · 2.07
Debt to equity
0.98▲
2024 · 0.91
ROE
10.8%▼
2024 · 25.5%
ROA
5.4%▼
2024 · 13.3%
Interest coverage
83.89▼
2024 · 519.78
Debt ≤ 1 year
€120,645▲
2024 · €100,496
Income taxes
€4,838▲
2024 · €3,894
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,227 | €2,927 | €5,449 | €963 | €963 | = |
| Other operating charges640/8 | €986 | €3,065 | €1,327 | €2,158 | €3,107 | ▲ 44.0% |
| Gross operating margin9900 | €12,953 | -€5,550 | €1,841 | €32,825 | €21,731 | ▼ 33.8% |
| Operating profit (loss)9901 | -€1,260 | -€11,542 | -€4,935 | €29,704 | €17,661 | ▼ 40.5% |
| Financial income75/76B | €16 | - | €28 | €2,261 | €691 | ▼ 69.4% |
| Recurring financial income75 | €16 | - | €28 | €2,261 | €691 | ▼ 69.4% |
| Financial charges65/66B | €612 | €799 | €1,117 | €59 | €222 | ▲ 276% |
| Recurring financial charges65 | €612 | €799 | €1,117 | €59 | €222 | ▲ 276% |
| Profit (loss) for the period before taxes9903 | -€1,856 | -€12,341 | -€6,024 | €31,906 | €18,130 | ▼ 43.2% |
| Income taxes67/77 | - | €152 | - | €3,894 | €4,838 | ▲ 24.2% |
| Profit (loss) for the period9904 | -€1,856 | -€12,493 | -€6,024 | €28,012 | €13,292 | ▼ 52.5% |
| Profit (loss) for the period to be appropriated9905 | -€1,856 | -€12,493 | -€6,024 | €28,012 | €13,292 | ▼ 52.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €225,266 | €255,871 | €208,281 | €210,455 | €243,896 | ▲ 15.9% |
| Fixed assets21/28 | €2,563 | €8,591 | €3,142 | €2,180 | €1,217 | ▼ 44.2% |
| Tangible fixed assets22/27 | €2,563 | €8,591 | €3,142 | €2,180 | €1,217 | ▼ 44.2% |
| Plant, machinery and equipment23 | €1,031 | €4,105 | €3,142 | €2,180 | €1,217 | ▼ 44.2% |
| Furniture and vehicles24 | €1,532 | €4,486 | - | - | - | - |
| Current assets29/58 | €222,704 | €247,281 | €205,139 | €208,275 | €242,679 | ▲ 16.5% |
| Stocks and contracts in progress3 | - | €86,439 | - | - | - | - |
| Contracts in progress37 | - | €86,439 | - | - | - | - |
| Amounts receivable within one year40/41 | €215,546 | €154,762 | €195,548 | €199,039 | €228,634 | ▲ 14.9% |
| Trade receivables40 | €159,049 | €57,169 | €140,295 | €138,138 | €132,740 | ▼ 3.9% |
| Other amounts receivable41 | €56,497 | €97,592 | €55,253 | €60,901 | €95,894 | ▲ 57.5% |
| Cash at bank and in hand54/58 | €4,502 | €4,957 | €7,105 | €7,947 | €12,756 | ▲ 60.5% |
| Deferred charges and accrued income490/1 | €2,655 | €1,123 | €2,485 | €1,289 | €1,289 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €225,266 | €255,871 | €208,281 | €210,455 | €243,896 | ▲ 15.9% |
| Equity10/15 | €100,462 | €87,970 | €81,946 | €109,959 | €123,251 | ▲ 12.1% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Outside capital11 | €6,200 | - | - | - | - | - |
| Other1109/19 | €6,200 | - | - | - | - | - |
| Reserves13 | €20,610 | €20,610 | €20,610 | €103,759 | €117,051 | ▲ 12.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | - | - | - | €83,149 | €96,441 | ▲ 16.0% |
| Profit (loss) carried forward14 | €73,652 | €61,160 | €55,136 | - | - | - |
| Amounts payable17/49 | €124,804 | €167,902 | €126,335 | €100,496 | €120,645 | ▲ 20.0% |
| Amounts payable within one year42/48 | €124,804 | €101,537 | €126,335 | €100,496 | €120,645 | ▲ 20.0% |
| Current portion of amounts payable after more than one year42 | €5,206 | - | - | - | - | - |
| Trade debts44 | €82,306 | €88,539 | €125,539 | €87,890 | €84,599 | ▼ 3.7% |
| Suppliers440/4 | €82,306 | €88,539 | €125,539 | €87,890 | €84,599 | ▼ 3.7% |
| Advances received on contracts in progress46 | - | - | - | €8,712 | €16,257 | ▲ 86.6% |
| Taxes, remuneration and social security45 | €9,169 | €12,998 | €796 | €3,894 | €8,732 | ▲ 124% |
| Taxes450/3 | €9,169 | €12,998 | €796 | €3,894 | €8,732 | ▲ 124% |
| Other amounts payable47/48 | €28,123 | - | - | - | €11,057 | - |
| Accrued charges and deferred income492/3 | - | €66,365 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,856 | -€12,493 | -€6,024 | €28,012 | €13,292 | ▼ 52.5% |
| + Depreciation and write-downs630 | €13,227 | €2,927 | €5,449 | €963 | €963 | = |
| Operating cash flow (approximation) | €11,370 | -€9,566 | -€575 | €28,975 | €14,255 | ▼ 50.8% |
| Investment in fixed assets (approximation) | - | -€8,955 | €0 | -€1 | €0 | ▲ 100% |
| Change in cash | - | €454 | €2,149 | €842 | €4,809 | ▲ 471% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 153 days late
2024
31-12
Financial
Back to profitnet €28,012
Net result €28,012 after 3 loss-making years.
31-12
Financial
Equity above €100,000Eq €109,959 ▲34.2%
Equity rises from €81,946 to €109,959.
11-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 72 days late
2023
02-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 63 days late
2022
31-12
Financial
Weakest financial yearnet -€12,493
Net result drops to -€12,493, the lowest in the series; recovery starts the following year.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
11-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 223 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 8.04
Current ratio from 3.42 to 8.04; short-term debt falls from €32,697 to €13,173.
31-12
Financial
Equity above €100,000Eq €102,319 ▲13.9%
3 profitable years in a row build equity to €102,319.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
Show earlier events
2019
22-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 114 days late
2018
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 50 days late
2017
10-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 102 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Asse · 1 establishment unit since 2013
Ground area
881 m²
Building footprint
120 m²
Volume, LiDAR
614 m³
Parcel 23006A0118/00L000, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
ISO-K ASSE
since 20132.226.837.017
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23006A0118/00L000 | Flanders | 881 m² | 1 · 120 m² | 7.2 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 7,300 companies in sector 43350 we hold annual accounts for 2,361. 1,949 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
Founded04-10-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
41001General construction of residential buildings
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0539994347
Also
9925:BE0539994347
Registered
14-04-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.