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SW+

Active
Private limited companyfounded 1923103 yrs activeDamastweversstraat(Kor) 3, 8500 Kortrijk, BelgiumKBO/BCE: BE 0405.342.610
Summary

SW+ has been active since 1923 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €67.0m and a net result of €3.6m. Equity is growing by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 29% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysis Watch Report Compare
SW+ActiveChecked score 65/100
Risk analysis Report Compare

Checked score

Score 2025
65 / 100
Healthy
Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability56▲+2
Solvency42▲+1
Growth76▲+16
Track record100
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.86 against 1.08 in 2024; short-term debt: 4.7% and cash: 1.7% of total assets), and 83.3% 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 103 years 0 110 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
16.7%
Return on assets
0.9%
Age of the figures
9 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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
63 d early
2024
59 d early
2023
9 d early
2022
33 d early
2021
41 d early
2020
39 d early
2019
17 d early
← 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 37 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

SW+ was incorporated on 17 May 1923.1 Between 2017 and 2023 the company absorbed ZUID-WEST-VLAAMSE SOCIALE HUISVESTINGSMAATSCHAPPIJ and DE VLASHAARD by merger.23 In 2023 the capital was increased 2 times, most recently to EUR 260,947.43 The registered office was moved to Kortrijk in 2024.5 The board currently has 26 members; Allijns Wouter has served longest, since 2017.6

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 28-08-2017
  3. 3Belgian State Gazette, 14-07-2023
  4. 4Belgian State Gazette, 14-07-2023
  5. 5Belgian State Gazette, 10-05-2024
  6. 6Belgian State Gazette, 04-09-2019

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Financials · fiscal year 2025, full schema

In the rankings #1 fastest grower in West Flanders, Real estate sector#1 employer in Kortrijk, Real estate sector#1 company by total assets in Kortrijk, Real estate sector
Turnover
€24.2m▲ 5.6%
2024 · €22.9m
EBIT margin
17.5%▲ 13.1pp
2024 · 4.4%
Net result
€3.6m▲ 852%
2024 · €380,047
Working capital
-€2.7m
2024 · €1.8m
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
Turnover€20.1m▲ 84.2%€15.8m▼ 21.5%€22.9m▲ 45.2%€22.9m▲ 0.2%€24.2m▲ 5.6%
Operating result€1.8m▲ 119%-€352,249€1.4m€998,496▼ 30.9%€4.2m▲ 324%
Net result€1.1m▲ 1,928%-€815,846€717,967€380,047▼ 47.1%€3.6m▲ 852%
EBIT margin9.0%▲ 1.4pp-2.2%▼ 11.3pp6.3%▲ 8.6pp4.4%▼ 2.0pp17.5%▲ 13.1pp
Equity€44.9m▲ 15.0%€44.5m▼ 1.0%€60.9m▲ 36.8%€64.1m▲ 5.3%€67.0m▲ 4.4%
Total assets€257.7m▲ 3.2%€256.0m▼ 0.6%€361.6m▲ 41.2%€392.3m▲ 8.5%€401.7m▲ 2.4%
Debt€208.7m▲ 1.1%€207.9m▼ 0.4%€297.1m▲ 42.9%€324.9m▲ 9.4%€332.0m▲ 2.2%
Working capital€10.9m▲ 142%€7.0m▼ 35.5%€1.7m▼ 75.1%€1.8m▲ 4.9%-€2.7m
Staff (FTE)12.6▼ 6.7%13▲ 3.2%56.6▲ 335%57.2▲ 1.1%56.5▼ 1.2%
Why a figure moved sharply
  • 2025 Net result +852% on 2024. Partial demerger to WM Elan, effective 01-01-2025.
  • 2023 Staff (FTE) +335% on 2022. Demerger with WM Elan, effective 19-12-2023. Merger absorbing DE VLASHAARD, effective 09-06-2023.
  • 2021 Turnover +84%, Net result +1,928% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
-€2.0m€0€2.0m€4.0mOperating result 2021: €1.8m€1.8mNet result 2021: €1.1m€1.1mOperating result 2022: -€352,249-€352,249Net result 2022: -€815,846-€815,846Operating result 2023: €1.4m€1.4mNet result 2023: €717,967€717,967Operating result 2024: €998,496€998,496Net result 2024: €380,047€380,047Operating result 2025: €4.2m€4.2mNet result 2025: €3.6m€3.6m20212022202320242025€0€2m€4mOperating result 2023: €1.4m€1.4mNet result 2023: €717,967€718,000Operating result 2024: €998,496€998,000Net result 2024: €380,047€380,000Operating result 2025: €4.2m€4.2mNet result 2025: €3.6m€3.6m202320242025
The operating result recovers in 2025; 2025 is 324% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €401.7m
Fixed assets €385.6m ▲ 4.6%
Current assets €16.1m ▼ 31.3%
Equity and liabilities €401.7m
Equity €67.0m ▲ 4.4%
Provisions €2.8m ▼ 13.4%
Debt €332.0m ▲ 2.2%
Debt's share of the balance-sheet total falls from 82.8% to 82.6%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€13.3m▲
2024 · €9.6m
Cash flow
€12.7m▲
2024 · €9.0m
Current ratio
0.86▼
2024 · 1.08
Quick ratio
0.66▲
2024 · 0.64
Debt to equity
4.96▼
2024 · 5.07
ROE
5.4%▲
2024 · 0.6%
ROA
0.9%▲
2024 · 0.1%
Interest coverage
1.67▲
2024 · 1.39
Debt ≤ 1 year
€18.8m▼
2024 · €21.6m
Debt > 1 year
€310.9m▲
2024 · €301.5m
Income taxes
€34,131▲
2024 · -€29,471
Staff costs
€4.5m▼
2024 · €5.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 719 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.

  • Medium-sized
  • 20 years or older
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
0.8% went bankrupt
1.4% stopped otherwise
97% still going

A further 0.6% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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 719 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 94 lines
Balance sheet Code20242025
Assets
Total assets20/58€392.3m€401.7m▲
Fixed assets21/28€368.8m€385.6m▲
Intangible fixed assets21€9,477€95,526▲
Tangible fixed assets22/27€368.5m€385.1m▲
Land and buildings22€332.6m€353.7m▲
Plant, machinery and equipment23€121,708€107,832▼
Furniture and vehicles24€390,936€225,192▼
Leasing and similar rights25€884€778▼
Other tangible fixed assets26€3,840€3,310▼
Assets under construction and advance payments27€35.4m€31.2m▼
Financial fixed assets28€302,771€322,503▲
Other financial fixed assets284/8€302,771€322,503▲
Shares284€253,994€273,609▲
Amounts receivable and cash guarantees285/8€48,777€48,894▲
Current assets29/58€23.5m€16.1m▼
Stocks and contracts in progress3€9.6m€3.7m▼
Stocks30/36€9.6m€3.7m▼
Property held for sale35€9.6m€3.7m▼
Amounts receivable within one year40/41€4.6m€2.8m▼
Trade receivables40€863,270€682,813▼
Other amounts receivable41€3.7m€2.1m▼
Current investments50/53€643€643=
Other investments51/53€643€643=
Cash at bank and in hand54/58€6.8m€6.6m▼
Deferred charges and accrued income490/1€2.5m€3.0m▲
Equity and liabilities
Total equity and liabilities10/49€392.3m€401.7m▲
Equity10/15€64.1m€67.0m▲
Contributions10/11€116,826€108,592▼
Reserves13€32.7m€36.3m▲
Non-distributable reserves130/1€26.1m€28.4m▲
Reserves not available under the articles1311€26.0m€28.3m▲
Own shares acquired1312€113,991€113,991=
Tax-exempt reserves132€6.6m€7.9m▲
Profit (loss) carried forward14€0-
Investment grants15€31.3m€30.5m▼
Provisions and deferred taxes16€3.2m€2.8m▼
Provisions for liabilities and charges160/5€1.4m€899,927▼
Major repairs and maintenance162€1.4m€899,927▼
Deferred taxes168€1.8m€1.9m▲
Amounts payable17/49€324.9m€332.0m▲
Amounts payable after more than one year17€301.5m€310.9m▲
Financial debts170/4€298.8m€308.0m▲
Credit institutions173€298.8m€308.0m▲
Other amounts payable178/9€2.7m€2.9m▲
Amounts payable within one year42/48€21.6m€18.8m▼
Current portion of amounts payable after more than one year42€12.3m€12.0m▼
Trade debts44€6.3m€3.8m▼
Suppliers440/4€6.3m€3.8m▼
Taxes, remuneration and social security45€1.8m€2.3m▲
Taxes450/3€1.4m€1.6m▲
Remuneration and social security454/9€455,610€689,545▲
Other amounts payable47/48€1.2m€677,786▼
Accrued charges and deferred income492/3€1.8m€2.3m▲
Income statement Code20242025
Operating income70/76A€26.8m€31.0m▲
Turnover70€22.9m€24.2m▲
Own construction capitalised72€115,394€452,815▲
Other operating income74€3.6m€4.8m▲
Non-recurring operating income76A€163,837€1.5m▲
Operating charges60/66A€25.8m€26.8m▲
Goods for resale, raw materials and consumables60€1.1m€849,750▼
Purchases600/8€1.1m€667,555▼
Change in stocks: decrease (increase)609€87,767€182,195▲
Services and other goods61€9.2m€9.8m▲
Remuneration, social security and pensions62€5.0m€4.5m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8.6m€9.1m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€304,459-€14,871▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€621,024-€454,398▲
Other operating charges640/8€2.0m€2.1m▲
Non-recurring operating charges66A€181,915€863,186▲
Operating profit (loss)9901€998,496€4.2m▲
Financial income75/76B€6.3m€7.5m▲
Recurring financial income75€6.3m€7.5m▲
Income from current assets751€82,597€77,602▼
Other financial income752/9€6.2m€7.4m▲
Financial charges65/66B€6.9m€8.0m▲
Recurring financial charges65€6.9m€8.0m▲
Debt charges650€6.9m€8.0m▲
Other financial charges652/9€690€724▲
Profit (loss) for the period before taxes9903€342,382€3.7m▲
Transfer from deferred taxes780€33,254€35,551▲
Transfer to deferred taxes680€25,061€72,765▲
Income taxes67/77-€29,471€34,131▲
Taxes670/3€529€34,131▲
Tax adjustments and reversals of tax provisions77€30,000-
Profit (loss) for the period9904€380,047€3.6m▲
Transfer from tax-exempt reserves789€60,181€87,091▲
Transfer to tax-exempt reserves689€476,158€1.4m▲
Profit (loss) for the period to be appropriated9905-€35,931€2.3m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€35,931€2.3m▲
Transfer from equity791/2€35,931-
From reserves792€35,931-
Transfer to equity691/2-€2.3m
To other reserves6921-€2.3m
Social balance
Average headcount (FTE)908757.256.5▼

The notes to these accounts (97 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A€21.2m€16.8m€26.2m€26.8m€31.0m▲ 15.7%
Turnover70€20.1m€15.8m€22.9m€22.9m€24.2m▲ 5.6%
Own construction capitalised72€17,996€7,611€78,226€115,394€452,815▲ 292%
Other operating income74€1.1m€1.0m€3.2m€3.6m€4.8m▲ 32.9%
Non-recurring operating income76A---€163,837€1.5m▲ 845%
Operating charges60/66A€19.3m€17.1m€24.7m€25.8m€26.8m▲ 3.7%
Goods for resale, raw materials and consumables60€8.6m€4.7m€1.9m€1.1m€849,750▼ 25.6%
Purchases600/8€5.0m€3.7m€173,314€1.1m€667,555▼ 36.7%
Change in stocks: decrease (increase)609€3.6m€1.0m€1.8m€87,767€182,195▲ 108%
Services and other goods61€3.6m€4.9m€9.6m€9.2m€9.8m▲ 6.4%
Remuneration, social security and pensions62€961,565€1.3m€4.1m€5.0m€4.5m▼ 10.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5.4m€5.6m€7.8m€8.6m€9.1m▲ 5.9%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€61,863€9,665€266,968€304,459-€14,871▼ 105%
Provisions for liabilities and charges: additions (uses and reversals)635/8-€352,748-€428,688-€674,018-€621,024-€454,398▲ 26.8%
Other operating charges640/8€994,690€1.0m€1.7m€2.0m€2.1m▲ 9.8%
Non-recurring operating charges66A--€59,918€181,915€863,186▲ 375%
Operating profit (loss)9901€1.8m-€352,249€1.4m€998,496€4.2m▲ 324%
Financial income75/76B€3.6m€3.8m€5.4m€6.3m€7.5m▲ 19.0%
Recurring financial income75€3.6m€3.8m€5.4m€6.3m€7.5m▲ 19.0%
Income from current assets751€1,898€12,914€50,553€82,597€77,602▼ 6.0%
Other financial income752/9€3.6m€3.8m€5.4m€6.2m€7.4m▲ 19.4%
Financial charges65/66B€4.3m€4.3m€6.1m€6.9m€8.0m▲ 15.6%
Recurring financial charges65€4.3m€4.3m€6.1m€6.9m€8.0m▲ 15.6%
Debt charges650€4.3m€4.3m€6.1m€6.9m€8.0m▲ 15.6%
Other financial charges652/9€13,615€7,230€1,837€690€724▲ 5.0%
Profit (loss) for the period before taxes9903€1.1m-€835,759€715,678€342,382€3.7m▲ 977%
Transfer from deferred taxes780€21,561€19,524€33,190€33,254€35,551▲ 6.9%
Transfer to deferred taxes680€4,110--€25,061€72,765▲ 190%
Income taxes67/77€7,331-€389€30,901-€29,471€34,131▲ 216%
Taxes670/3€7,331-€30,901€529€34,131▲ 6,357%
Tax adjustments and reversals of tax provisions77-€389-€30,000--
Profit (loss) for the period9904€1.1m-€815,846€717,967€380,047€3.6m▲ 852%
Transfer from tax-exempt reserves789€89,907€60,181€60,181€60,181€87,091▲ 44.7%
Transfer to tax-exempt reserves689€78,088--€476,158€1.4m▲ 190%
Profit (loss) for the period to be appropriated9905€1.1m-€755,665€778,147-€35,931€2.3m▲ 6,562%
Line20212022202320242025Change
Assets
Total assets20/58€257.7m€256.0m€361.6m€392.3m€401.7m▲ 2.4%
Fixed assets21/28€234.4m€235.7m€341.1m€368.8m€385.6m▲ 4.6%
Intangible fixed assets21--€14,252€9,477€95,526▲ 908%
Tangible fixed assets22/27€234.4m€235.7m€341.0m€368.5m€385.1m▲ 4.5%
Land and buildings22€226.6m€223.9m€307.6m€332.6m€353.7m▲ 6.3%
Plant, machinery and equipment23€41,463€37,339€34,787€121,708€107,832▼ 11.4%
Furniture and vehicles24€79,090€94,942€504,787€390,936€225,192▼ 42.4%
Leasing and similar rights25--€990€884€778▼ 12.0%
Other tangible fixed assets26€2,250€2,250€9,148€3,840€3,310▼ 13.8%
Assets under construction and advance payments27€7.7m€11.6m€32.9m€35.4m€31.2m▼ 11.9%
Financial fixed assets28€8,719€8,719€126,684€302,771€322,503▲ 6.5%
Other financial fixed assets284/8€8,719€8,719€126,684€302,771€322,503▲ 6.5%
Shares284€1,000€1,000€45,500€253,994€273,609▲ 7.7%
Amounts receivable and cash guarantees285/8€7,719€7,719€81,184€48,777€48,894▲ 0.2%
Current assets29/58€23.3m€20.4m€20.4m€23.5m€16.1m▼ 31.3%
Stocks and contracts in progress3€12.5m€11.4m€9.7m€9.6m€3.7m▼ 61.4%
Stocks30/36€12.5m€11.4m€9.7m€9.6m€3.7m▼ 61.4%
Property held for sale35€12.5m€11.4m€9.7m€9.6m€3.7m▼ 61.4%
Amounts receivable within one year40/41€2.4m€1.6m€3.3m€4.6m€2.8m▼ 39.0%
Trade receivables40€143,432€201,372€614,565€863,270€682,813▼ 20.9%
Other amounts receivable41€2.3m€1.4m€2.7m€3.7m€2.1m▼ 43.2%
Current investments50/53€643€643€1,811€643€643=
Own shares50--€1,167---
Other investments51/53€643€643€643€643€643=
Cash at bank and in hand54/58€7.2m€5.9m€5.1m€6.8m€6.6m▼ 2.0%
Deferred charges and accrued income490/1€1.2m€1.4m€2.3m€2.5m€3.0m▲ 18.8%
Equity and liabilities
Total equity and liabilities10/49€257.7m€256.0m€361.6m€392.3m€401.7m▲ 2.4%
Equity10/15€44.9m€44.5m€60.9m€64.1m€67.0m▲ 4.4%
Contributions10/11€80,746€80,600€118,206€116,826€108,592▼ 7.0%
Capital10€80,746€80,600----
Issued capital100€203,389€202,863----
Uncalled capital101€122,643€122,263----
Reserves13€25.6m€25.6m€32.4m€32.7m€36.3m▲ 11.0%
Non-distributable reserves130/1€20.8m€20.8m€26.3m€26.1m€28.4m▲ 8.9%
Legal reserve130€15,777€15,777----
Reserves not available under the articles1311--€26.1m€26.0m€28.3m▲ 8.9%
Own shares acquired1312€113,991€113,991€115,158€113,991€113,991=
Other1319€20.7m€20.7m----
Tax-exempt reserves132€4.8m€4.8m€6.2m€6.6m€7.9m▲ 19.4%
Profit (loss) carried forward14€190,460-€565,205€0€0--
Investment grants15€19.1m€19.4m€28.3m€31.3m€30.5m▼ 2.4%
Provisions and deferred taxes16€4.0m€3.6m€3.6m€3.2m€2.8m▼ 13.4%
Provisions for liabilities and charges160/5€2.9m€2.4m€2.0m€1.4m€899,927▼ 33.6%
Major repairs and maintenance162€2.9m€2.4m€2.0m€1.4m€899,927▼ 33.6%
Other liabilities and charges164/5-€72,226----
Deferred taxes168€1.2m€1.2m€1.7m€1.8m€1.9m▲ 1.5%
Amounts payable17/49€208.7m€207.9m€297.1m€324.9m€332.0m▲ 2.2%
Amounts payable after more than one year17€195.0m€193.3m€276.6m€301.5m€310.9m▲ 3.1%
Financial debts170/4€193.5m€191.8m€274.1m€298.8m€308.0m▲ 3.1%
Credit institutions173€193.5m€191.8m€274.1m€298.8m€308.0m▲ 3.1%
Other loans174--€7,618---
Other amounts payable178/9€1.5m€1.6m€2.6m€2.7m€2.9m▲ 7.3%
Amounts payable within one year42/48€12.5m€13.4m€18.7m€21.6m€18.8m▼ 13.0%
Current portion of amounts payable after more than one year42€9.0m€8.5m€9.9m€12.3m€12.0m▼ 2.1%
Trade debts44€2.2m€3.6m€7.1m€6.3m€3.8m▼ 39.6%
Suppliers440/4€2.2m€3.6m€7.1m€6.3m€3.8m▼ 39.6%
Taxes, remuneration and social security45€930,698€902,448€545,423€1.8m€2.3m▲ 26.4%
Taxes450/3€831,950€810,048€244,467€1.4m€1.6m▲ 18.2%
Remuneration and social security454/9€98,748€92,400€300,956€455,610€689,545▲ 51.3%
Other amounts payable47/48€315,205€335,846€1.1m€1.2m€677,786▼ 44.7%
Accrued charges and deferred income492/3€1.2m€1.2m€1.8m€1.8m€2.3m▲ 27.4%
Line20212022202320242025Change
Profit (loss) for the period9904€1.1m-€815,846€717,967€380,047€3.6m▲ 852%
+ Depreciation and write-downs630€5.4m€5.6m€7.8m€8.6m€9.1m▲ 5.9%
Operating cash flow (approximation)€6.5m€4.8m€8.5m€9.0m€12.7m▲ 41.7%
Investment in fixed assets (approximation)--€6.9m-€113.2m-€36.2m-€25.9m▲ 28.6%
Change in cash--€1.2m-€843,137€1.7m-€132,515▼ 108%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
10-09
State Gazette act Reappointment: NV CALLENS VANDELANOTTE (statutory auditor)
Permanent representative: Frank Vandelanotte3 facts ▸
  • General meeting, 19-05-2026
  • Auditor reappointment, NV CALLENS VANDELANOTTE (statutory auditor)
  • Permanent representative, Frank Vandelanotte (permanent representative)
29-05
NBB filing Annual accounts filed
fiscal year 2025 · full schema
22-05
State Gazette act Statutes amendment
Vote3 facts ▸
  • General meeting, 19-05-2026
  • Statutes amendment
  • Vote, 17.820.056 voor, 0 tegen, 0 onthoudingen
25-02
State Gazette act Resignations: Maxim Veys, Mohamed Ahouna and 8 others
Reappointments: Mathieu Desmet, Wilfried Vanneste and 3 others · Appointments: Marie De Clerck, Bram Deltour and 8 others26 facts ▸
  • General meeting, 20-05-2025
  • Director resignation, Maxim Veys (director)
  • Director resignation, Mohamed Ahouna (director)
  • Director resignation, Nawal Maghroud (director)
  • Director resignation, Koen Byttebier (director)
  • Director resignation, Eef Vandenbogaerde (director)
  • Director resignation, Trui Steenhoudt (director)
  • Director resignation, Philippe De Coene (director)
  • Director resignation, Vicky Claeys (director)
  • Director resignation, Luc Lannoy (director)
  • Director resignation, Wouter Allyns (director)
  • Director reappointment, Mathieu Desmet (director)
  • +14 further facts in this act
2025
31-12
Financial Highest result since 2018net €3.6m ▲852%
Operating result €4.2m, net result €3.6m, both a record.
01-10
State Gazette act Capital & shares
Share cancellation · Capital · Statutes amendment3 facts ▸
  • Share cancellation, 1550635, uittreding van 64 aandeelhouders lastens het vennootschapsvermogen
  • Capital
  • Statutes amendment
15-09
State Gazette act Resignation: Karel Maddens (algemeen directeur)
Appointment: Thomas Raes (algemeen directeur)3 facts ▸
  • Board meeting, 17-06-2025
  • Director resignation, Karel Maddens (algemeen directeur)
  • Director appointment, Thomas Raes (algemeen directeur)
14-07
State Gazette act Capital & shares · Restructuring
Demerger · Net-asset statement · Accounting effect12 facts ▸
  • General meeting, 03-06-2025
  • Demerger, partielle splitsing door overneming, EUR
  • Net-asset statement, 31-12-2024
  • Accounting effect, 01-01-2025
  • Share issue, 8551, EUR
  • Share cancellation, 30-06-2023
  • Power of attorney, het bestuursorgaan van SW+
  • Suspensive condition, vols trekking van rechtswege na vervulling van de termijn, goedkeuring door de buitengewone algemene vergadering van de overnemende vennootschap
  • Real estate transfer, ja
  • Post split share count, 4897277
  • Split proposal date, 16-04-2025
  • Asbestos deferral, uitstel tot twee jaar na onderhavige akte
02-06
NBB filing Annual accounts filed
fiscal year 2024 · full schema
28-04
State Gazette act Statutes amendment · Restructuring
Appointment: Callens Vandelanotte (company auditor) · Demerger · Net-asset statement11 facts ▸
  • Demerger, 16-04-2025
  • Net-asset statement, 31-12-2024
  • Real estate, Appartementsgebouw te Zwevegem, Leanderhof 3-5-7, kadaster Zwevegem, eerste afdeling, sectie A, perceelnummer 0501Y10 (incl. 25 appartementen en 22 parkingplaat…
  • Accounting effect, 01-01-2025
  • Exchange ratio, 38.59, EUR
  • Capital
  • Capital
  • Auditor appointment, Callens Vandelanotte (company auditor)
  • Working area, Kortrijk-Regio
  • Working area, Zuid-West-Vlaanderen-Zuid (Avelgem, Kuurne, Spiere-Helkijn, Zwevegem)
  • Cost allocation, 50/50
03-02
State Gazette act Miscellaneous
Power of attorney2 facts ▸
  • Board meeting, 17-12-2024
  • Power of attorney
2024
22-07
NBB filing Annual accounts filed
fiscal year 2023 · full schema
Show earlier events
10-05
State Gazette act Registered office
Registered-office move2 facts ▸
  • Board meeting, 19-03-2024
  • Registered-office move, Damastweversstraat 3, 8500 Kortrijk
27-03
State Gazette act Reappointment: CALLENS VANDELANOTTE (statutory auditor)
Permanent representative: Frank Vandelanotte3 facts ▸
  • General meeting, 30-05-2023
  • Auditor reappointment, CALLENS VANDELANOTTE (statutory auditor)
  • Permanent representative, Frank Vandelanotte
29-01
State Gazette act Capital & shares · Restructuring
Demerger · Net-asset statement · Accounting effect6 facts ▸
  • General meeting, 19-12-2023
  • Demerger, partielle splitsing door overneming, EUR
  • Net-asset statement, 01-01-2023
  • Accounting effect, 01-01-2023
  • Share issue, 39565, 180.56
  • Power of attorney, SW+
29-01
State Gazette act Restructuring · Miscellaneous
Merger · Net-asset statement · Real estate14 facts ▸
  • General meeting, 19-12-2023
  • Merger, 19-12-2023
  • Net-asset statement, 01-01-2023
  • Real estate, Onroerende goederen (terreinen en gebouwen, herwaarderingsmeerwaarden Bellegem, activa in aanbouw)
  • Accounting effect, 01-01-2023
  • Share issue, 158, partiële splitsing door overneming
  • Statutes amendment
  • Power of attorney, SW+
  • Split proposal, 25-10-2023
  • Vote result, 23888727, 0
  • Revaluation, 80% van de verzekerde waarde
  • No cash consideration, geen oplegsom
  • +2 further facts in this act
2023
31-12
Financial Back to profitnet €717,967
Net result €717,967 after one loss-making year.
31-12
Financial Equity above €50mEq €60.9m ▲36.8%
Equity rises from €44.5m to €60.9m.
14-07
State Gazette act Capital & shares · Purpose · Statutes amendment · Legal-form change · Resignations & appointments · Restructuring
Merger · Dissolution · Capital increase11 facts ▸
  • General meeting, 09-06-2023
  • Merger, absorption, 09-06-2023
  • Dissolution, 09-06-2023
  • Capital increase, €58.084,08
  • Share issue, 5670272, 25956558
  • Legal-form conversion, Besloten vennootschap
  • Name change, SW+
  • Purpose change, De vennootschap heeft als hoofdzakelijk doel in het algemeen belang bij te dragen aan het recht op menswaardig wonen en de uitvoering van het Vlaamse woonbeleid…
  • Demerger, partial split by absorption, 09-06-2023
  • Net-asset statement, 01-01-2023
  • Exchange ratio, per 1 aandeel van de over te nemen vennootschap 248 aandelen van de overnemende vennootschap
83.7% of this act was read; anything after the cut is not in this list.Read the act at the Belgisch Staatsblad ↗
14-07
State Gazette act Capital & shares · Resignations & appointments · Restructuring
Appointments: DECALUWE Veronique, LOOSVELT Christiane and MADDENS Karel André Jules Dieudonné · Demerger · Net-asset statement15 facts ▸
  • Board meeting, 09/06/2023
  • Director appointment, DECALUWE Veronique (chair)
  • Director appointment, LOOSVELT Christiane (vice-chair)
  • Demerger, 09/06/2023
  • Net-asset statement, 31/12/2022
  • Reserve creation, onbeschikbare reserve, 1240026.34
  • Director appointment, MADDENS Karel André Jules Dieudonné (algemeen directeur)
  • Power of attorney, DECALUWE Veronique
  • Power of attorney, MADDENS Karel André Jules Dieudonné
  • Power of attorney, DECALUWE Veronique
  • Power of attorney, MADDENS Karel André Jules Dieudonné
  • Capital increase, €516.120,15
  • +3 further facts in this act
28-06
NBB filing Annual accounts filed
fiscal year 2022 · full schema
05-05
State Gazette act Restructuring
Appointments: VRC BEDRIJFSREVISOREN (statutory auditor) and Vandelanotte bedrijfsrevisoren (statutory auditor) · Demerger · Accounting effect13 facts ▸
  • Demerger, 2023-04-19/2023-04-21
  • Accounting effect, 01-01-2023
  • Net-asset statement, 01-01-2023
  • Real estate, 15 percelen in Kortrijk (Kooigem), waaronder bouwlanden en woonhuizen (Molentjesstraat 53, 63, 61, 55; Lentewijk 21, 16, 5, 6, 7, 8, 14, 18, 23, 19, 20)
  • Auditor appointment, VRC BEDRIJFSREVISOREN (statutory auditor)
  • Auditor appointment, Vandelanotte bedrijfsrevisoren (statutory auditor)
  • Exchange ratio, 1 new share per shareholder, 34
  • Cash consideration, none
  • Asset revaluation, 80% of insured value
  • Profit rights, 01-01-2023
  • Contract transfer, lease agreements and allocable loans
  • Personnel transfer, none
  • +1 further facts in this act
05-05
State Gazette act Restructuring
Business branch transfer · Accounting effect · Net-asset statement14 facts ▸
  • Board meeting, 21-04-2023
  • Board meeting, 21-04-2023
  • Business branch transfer, overdracht om niet van een bedrijfstak
  • Accounting effect, 01-01-2023
  • Net-asset statement, 31-12-2022
  • Real estate, KORTRIJK - 10e afdeling - ROLLEGEM - 34033: 1. Een huis op en met medegaande grond, gestaan en gelegen te 8500 Kortrijk, Tombroekstraat 251, gekend ten kadaster…
  • Real estate, KORTRIJK -8e afdeling - HEULE -34016: 3. Een huis op en met medegaande grond, gestaan en gelegen te 8500 Kortrijk, Moorseelsestraat 208, gekend ten kadaster ond…
  • Real estate, KORTRIJK - 2e afdeling - 34352: 5. Een huis op en met medegaande grond, gestaan en gelegen te 8500 Kortrijk, Meensesteenweg 37, gekend ten kadaster onder sectie…
  • Real estate, KORTRIJK -4e afdeling - 34354: 11.Een huis op en met medegaande grond, gestaan en gelegen te 8500 Kortrijk, Vannestes Reke 12, gekend ten kadaster onder sectie…
  • Real estate, KORTRIJK - 3e afdeling - 34353: 12. Een huis op en met medegaande grond, gestaan en gelegen te 8500 Kortrijk, Groeningebeluik 2, gekend ten kadaster onder secti…
  • Suspensive condition, 30-06-2023, erkend als woonmaatschappij
  • Reserve commitment, less reserved amount under article 214 Decree of 9 July 2021; not to be returned to shareholders in any form, onbeschikbare reserverekening
  • +2 further facts in this act
05-05
State Gazette act Restructuring
Merger · Accounting effect · Real estate13 facts ▸
  • Merger, absorption
  • Accounting effect, 01-01-2023
  • Real estate, 251 onroerende goederen te Wevelgem (afdelingen Gullegem en Moorsele), waaronder woningen, gebouwen, gronden, parkings en appartementen.
  • Exchange ratio, 248
  • Capital
  • Capital
  • New shares issued, 5670272
  • Post merger shares, 25956558
  • Planned transformation, omzetting van CVBA naar BV via gewone statutenwijziging, zonder omzettingsprocedure (art. 41 §4 overgangsbepaling)
  • Business branch transfer, overdracht om niet van een bedrijfstak, art. 212 §1 Decreet van 9 juli 2021
  • Auditor fee, 3500.00 EUR
  • Auditor fee, 3250.00 EUR
  • +1 further facts in this act
36.2% of this act was read; anything after the cut is not in this list.Read the act at the Belgisch Staatsblad ↗
16-03
State Gazette act Resignation: Ilse Piers (director)
Reappointments: Karel Maddens (waarnemend directeur) and Thomas Raes (waarnemend directeur)5 facts ▸
  • Board meeting, 19-10-2022
  • Director resignation, Ilse Piers (director)
  • Board meeting, 21-02-2023
  • Director reappointment, Karel Maddens (waarnemend directeur)
  • Director reappointment, Thomas Raes (waarnemend directeur)
01-03
State Gazette act Reappointments: Achrifi Hayat, Ahouna Mohamed and 11 others
14 facts ▸
  • General meeting, 30-05-2022
  • Director reappointment, Achrifi Hayat (director)
  • Director reappointment, Ahouna Mohamed (director)
  • Director reappointment, Allijns Wouter (director)
  • Director reappointment, Aslanyan Madlen (director)
  • Director reappointment, Byttebier Koen (director)
  • Director reappointment, Craeynest Mario (director)
  • Director reappointment, Decaluwé Veronique (chair)
  • Director reappointment, Dewaele Charka (director)
  • Director reappointment, Soens Rik (director)
  • Director reappointment, Vandenbussche Annelies (director)
  • Director reappointment, Verdin Christian (director)
  • +2 further facts in this act
01-02
State Gazette act Appointments: Karel Maddens (waarnemend directeur) and Thomas Raes (waarnemend directeur)
3 facts ▸
  • Board meeting, 22-11-2022
  • Director appointment, Karel Maddens (waarnemend directeur)
  • Director appointment, Thomas Raes (waarnemend directeur)
2022
31-12
Financial Weakest financial yearnet -€815,846
Net result drops to -€815,846, the lowest in the series; recovery starts the following year.
20-06
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
17-09
State Gazette act Appointment: CVBA VANDELANOTTE BEDRIJFSREVISOREN (statutory auditor)
Permanent representative: Frank Vandelanotte3 facts ▸
  • General meeting, 25-06-2020
  • Auditor appointment, CVBA VANDELANOTTE BEDRIJFSREVISOREN (statutory auditor)
  • Permanent representative, Frank Vandelanotte
22-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
14-07
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
04-09
State Gazette act Resignations: Tiene Castelein, Jean De Bethune and 6 others
Reappointments: Maxim Veys, Wouter Allijns and 2 others · Appointments: Hayat Achrifi, Mohamed Ahouna and 7 others22 facts ▸
  • General meeting, 24-06-2019
  • Director resignation, Tiene Castelein (director)
  • Director resignation, Jean De Bethune (director)
  • Director resignation, Philippe De Coene (director)
  • Director resignation, Eddy Defoor (director)
  • Director resignation, Jules Godefroid (director)
  • Director resignation, Jacques Laverge (director)
  • Director resignation, Guy Leleu (director)
  • Director resignation, Marc Lemaitre (director)
  • Director reappointment, Maxim Veys (chair)
  • Director reappointment, Wouter Allijns (director)
  • Director reappointment, Christian Verdin (director)
  • +10 further facts in this act
08-07
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
10-07
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
11-12
State Gazette act Resignations: CRAEYNEST Mario, SANSEN Antoon and 2 others
Reappointments: CASTELEIN Tiene, DE COENE Philippe and 3 others · Appointments: ALLIJNS Wouter, DE BETHUNE Jean and 7 others21 facts ▸
  • General meeting, 29-06-2017
  • Director resignation, CRAEYNEST Mario (director)
  • Director resignation, SANSEN Antoon (director)
  • Director resignation, WEYDTS Axel (director)
  • Director resignation, VANSEVENANT Lieve (director)
  • Director reappointment, CASTELEIN Tiene (director)
  • Director reappointment, DE COENE Philippe (director)
  • Director reappointment, LELEU Guy (director)
  • Director reappointment, LEMAITRE Marc (director)
  • Director reappointment, VLAMINCK Frederik (director)
  • Director appointment, ALLIJNS Wouter (director)
  • Director appointment, DE BETHUNE Jean (director)
  • +9 further facts in this act
10-10
State Gazette act Capital & shares
Resignation: You-Ala Sliman (director) · Appointment: De Coene Philippe Claude (director) · Director discharge17 facts ▸
  • General meeting, 29-06-2017
  • Director resignation, You-Ala Sliman (director)
  • Director discharge, You-Ala Sliman
  • Director appointment, De Coene Philippe Claude (director)
  • Demerger, splitsing door overname, 10895170.0
  • Demerger, splitsing door overname, 7561351.0
  • Accounting effect, 01-01-2017
  • Share issue, 5914489, EUR
  • Share issue, 4104711, EUR
  • Personnel transfer, Stragier Koen
  • Personnel transfer, Demuynck Tine
  • Personnel transfer, Santy Ilse
  • +5 further facts in this act
28-08
State Gazette act Restructuring
Merger · Dissolution · Name change10 facts ▸
  • General meeting, 28-06-2017
  • Merger, absorption, 28-06-2017
  • Dissolution, 28-06-2017
  • Name change, Wonen Regio Kortrijk
  • Capital, €109.447,11
  • Statutes amendment
  • Power of attorney, GOEDKOPE WONING
  • Settlement, dading tussen de raad van bestuur en de directeur van de Zuid-West-Vlaamse Sociale Huisvestingsmaatschappij inzake de ontslagregeling
  • Control report, 17-05-2017
  • Control report, 17-05-2017
26-05
State Gazette act Restructuring
Merger · Board composition · Capital38 facts ▸
  • Merger, absorption
  • Board composition, LEMAITRE Marc (chair of the board)
  • Board composition, WEYDTS Axel (director)
  • Board composition, LELEU Guy (director)
  • Board composition, SANSEN Antoon (director)
  • Board composition, VLAMINCK Frederik (director)
  • Board composition, CASTELEIN Tiene (director)
  • Board composition, CRAEYNEST Mario (director)
  • Board composition, VANSEVENANT Lieve (director)
  • Board composition, DE COENE Philippe (director)
  • Capital, €32.227,5
  • Statutes amendment
  • +26 further facts in this act
61.8% of this act was read; anything after the cut is not in this list.Read the act at the Belgisch Staatsblad ↗
26-05
State Gazette act Restructuring
Demerger · Accounting effect · Net-asset statement18 facts ▸
  • Board meeting, 26-04-2017
  • Demerger, splitsing door overneming
  • Demerger, splitsing door overneming
  • Accounting effect, 01-01-2017
  • Net-asset statement, 31-12-2016
  • Net-asset statement, 31-12-2016
  • Real estate, 107 onroerende goederen te Menen (Lauwe), waaronder percelen grond, woningen, appartementen en gebouwen (zie bijlage)
  • Capital, €92.990
  • Capital, €32.227,5
  • Share-exchange ratio, EIGEN HAARD IS GOUD WAARD
  • Share split, EIGEN HAARD IS GOUD WAARD
  • Dissolution, EIGEN HAARD IS GOUD WAARD
  • +6 further facts in this act
16.9% of this act was read; anything after the cut is not in this list.Read the act at the Belgisch Staatsblad ↗
26-04
NBB filing Annual accounts filed
fiscal year 2016 · full schema
2016
24-06
State Gazette act Reappointments: Marc Lemaitre (director) and Frederik Vlaminck (director)
Resignation: Els Deleu (director) · Appointment: Lieve Vansevenant (director)5 facts ▸
  • General meeting, 31-05-2016
  • Director reappointment, Marc Lemaitre (director)
  • Director reappointment, Frederik Vlaminck (director)
  • Director resignation, Els Deleu (director)
  • Director appointment, Lieve Vansevenant (director)
24-06
State Gazette act Appointment: Ilse Piers (director)
1 fact ▸
  • Director appointment, Ilse Piers (director (executive))
2015
25-06
State Gazette act Reappointments: Sliman You-Ala, Guy Leleu and Antoon Sansen
4 facts ▸
  • General meeting, 26-05-2015
  • Director reappointment, Sliman You-Ala (director)
  • Director reappointment, Guy Leleu (director)
  • Director reappointment, Antoon Sansen (director)
14-04
State Gazette act Appointment: Sven Van Steelant (statutory auditor)
Director resignation3 facts ▸
  • General meeting, 16-12-2014
  • Director resignation
  • Director appointment, Sven Van Steelant (statutory auditor)
2013
06-02
State Gazette act Resignation: BVBA Mieke Watteyne (statutory auditor)
Appointment: CVBA Auditas Bedrijfsrevisoren (statutory auditor) · Permanent representative: Sven Vansteelant4 facts ▸
  • Board meeting, 03-07-2012
  • Director resignation, BVBA Mieke Watteyne (statutory auditor)
  • Auditor appointment, CVBA Auditas Bedrijfsrevisoren (statutory auditor)
  • Permanent representative, Sven Vansteelant
2012
28-08
State Gazette act Reappointments: Guy Leleu (director) and Antoon Sansen (director)
Resignation: Carl Decaluwé (director) · Appointment: Nikolas Cloet (director)5 facts ▸
  • General meeting, 12-06-2012
  • Director reappointment, Guy Leleu (director)
  • Director reappointment, Antoon Sansen (director)
  • Director resignation, Carl Decaluwé (director)
  • Director appointment, Nikolas Cloet (director)
26-06
State Gazette act Purpose · Statutes amendment
Legal-form conversion · Purpose change · Registered-office move8 facts ▸
  • General meeting, 12-06-2012
  • Legal-form conversion, burgerlijke vennootschap onder vorm van een coöperatieve vennootschap met beperkte aansprakelijkheid met sociaal oogmerk
  • Purpose change, 1° de woonvoorwaarden van de woonbehoeftige gezinnen en alleenstaanden te verbeteren... 2° bij te dragen tot de herwaardering van het woningbestand... 3° gronde…
  • Statutes amendment
  • Registered-office move, Kortrijk, Nieuwstraat 13
  • Capital, €25.000
  • Net-asset statement, 31-03-2012
  • Approval, Verslag van de raad van bestuur en verslag van de commissaris over de staat van activa en passiva per 31/03/2012
2010
11-08
State Gazette act Reappointments: Koen Byttebier (director) and Anthony Vandebuerie (director)
Resignation: Gérard Parmentier (director) · Appointment: Ben Delabie (director)5 facts ▸
  • General meeting, 15-06-2010
  • Director reappointment, Koen Byttebier (director)
  • Director reappointment, Anthony Vandebuerie (director)
  • Director resignation, Gérard Parmentier (director)
  • Director appointment, Ben Delabie (director)
2009
29-06
State Gazette act Reappointments: Guy Leleu (director) and Antoon Sansen (director)
Permanent representative: Mieke Watteyne · Appointment: Watteyne M. (statutory auditor)14 facts ▸
  • General meeting, 26-05-2009
  • Director reappointment, Guy Leleu (director)
  • Director reappointment, Antoon Sansen (director)
  • Board composition, Koen Byttebier (director)
  • Board composition, Carl Decaluwé (director)
  • Board composition, Guy Leleu (director)
  • Board composition, Gérard Parmentier (director)
  • Board composition, Vincent Salembier (director)
  • Board composition, Antoon Sansen (director)
  • Board composition, Eddy Van Lancker (director)
  • Board composition, Anthony Vandebuerie (director)
  • Board composition, Watteyne M. (director)
  • +2 further facts in this act
29-06
State Gazette act Reappointments: Eddy Van Lancker, Vincent Salembier and Carl Decaluwé
Resignation: Marc Lemaitre (ontslagnemend bestuurder) · Appointments: Frederik Vlaminck (director) and Watteyne M. (statutory auditor)15 facts ▸
  • General meeting, 28-05-2008
  • Director reappointment, Eddy Van Lancker (director)
  • Director reappointment, Vincent Salembier (director)
  • Director reappointment, Carl Decaluwé (director)
  • Director resignation, Marc Lemaitre (ontslagnemend bestuurder)
  • Director appointment, Frederik Vlaminck (director)
  • Auditor appointment, Watteyne M. (statutory auditor)
  • Board composition, Koen Byttebier (director)
  • Board composition, Carl Decaluwé (director)
  • Board composition, Guy Leleu (director)
  • Board composition, Gérard Parmentier (director)
  • Board composition, Vincent Salembier (director)
  • +3 further facts in this act
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
38 of 38 acts read

Directors · office · real estate

Directors
24 directors, 2 in day-to-day management, last change in 2025

Board 24

Veronique Decaluwé
Chair · since 09-06-2023 · Director · since 24-06-2019
Current
Christiane Loosvelt
Vice-chair · since 09-06-2023
Current
Allijns Wouter
Director · since 29-06-2017
Current
Verdin Christian
Director · since 29-06-2017
Current
Achrifi Hayat
Director · since 24-06-2019
Current
Aslanyan Madlen
Director · since 24-06-2019
Current
Craeynest Mario
Director · since 24-06-2019
Current
Dewaele Charka
Director · since 24-06-2019
Current
Show all 24 directors
Soens Rik
Director · since 24-06-2019
Current
Vandenbussche Annelies
Director · since 24-06-2019
Current
Vermeersch Matthys
Director · since 24-06-2019
Current
Alain Cnudde
Director · since 20-05-2025
Current
Anaïs de Bethune
Director · since 20-05-2025
Current
Bram Deltour
Director · since 20-05-2025
Current
Emile Declercq
Director · since 20-05-2025
Current
Jeppe Remy
Director · since 20-05-2025
Current
Jeroen David
Director · since 20-05-2025
Current
Liesbeth D'hondt
Director · since 20-05-2025
Current
Marie De Clerck
Director · since 20-05-2025
Current
Mathieu Desmet
Director · since 20-05-2025
Current
Mike Verslijpe
Director · since 20-05-2025
Current
Pieter Soens
Director · since 20-05-2025
Current
Tiene Castelein
Director · since 20-05-2025
Current
Wilfried Vanneste
Director · since 20-05-2025
Current
8 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
VLAMINCK Frederik
Director · since 28-05-2008
Not recently confirmed
Anthony Vandebuerie
Director · since 15-06-2010
Not recently confirmed
Ben Delabie
Director · since 15-06-2010
Not recently confirmed
Nikolas Cloet
Director · since 12-06-2012
Not recently confirmed
GODEFROJD Jules
Director · since 29-06-2017
Not recently confirmed
VERMEERSCH Matthijs
Director · since 29-06-2017
Not recently confirmed
Eddy Van Lancker
Director
Not recently confirmed
Vincent Salembier
Director
Not recently confirmed

Day-to-day management 2

MADDENS Karel André Jules Dieudonné
Algemeen directeur · since 09-06-2023
Current
Thomas Raes
Algemeen directeur · since 01-09-2025
Current

Statutory auditor 1

CALLENS VANDELANOTTE
Statutory auditor · since 25-06-2020 · perm. rep.: Frank Vandelanotte
Current

Other functions 1

Thomas Raes
Waarnemend directeur · since 01-12-2022
Current
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
4 acts were read only in part. 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, Kortrijk · 3 establishment units since 1923
seat establishment All 3 establishment units on the map
Ground area
7,986 m²
Building footprint
5,129 m²
Volume, LiDAR
41,208 m³
3 parcels, Flanders · tallest building 18.0 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
Spinnerijkaai(Kor) 57, 8500 Kortrijk
Real estate activities
since 19232.230.315.456
SW+
Damastweversstraat(Kor) 3, 8500 KortrijkReal estate activities
since 20232.349.015.148
Marktstraat 9, 8560 Wevelgem
Real estate activities
since 20232.349.015.247
3 parcels
Flanders 3 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34353B0083/00C005 Flanders 6,075 m² 1 · 3,709 m² 18.0 m · 3 fl.
34353B0082/00A006 Flanders 1,694 m² 1 · 1,318 m² 7.0 m · 1 fl.
34041A0337/00R002 Flanders 217 m² 1 · 102 m² 10.1 m · 2 fl.
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

64 people since 2006, 35 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • Other function
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Allijns Wouter
  • Director, from 29-06-2017 to date
Craeynest Mario
  • Director, until 29-06-2017
  • Director, from 24-06-2019 to date
Tiene Castelein
  • Director, already before 29-06-2017 to 24-06-2019
  • Director, from 20-05-2025 to date
Verdin Christian
  • Director, from 29-06-2017 to date
Achrifi Hayat
  • Director, from 24-06-2019 to date
Aslanyan Madlen
  • Director, from 24-06-2019 to date
Dewaele Charka
  • Director, from 24-06-2019 to date
Soens Rik
  • Director, from 24-06-2019 to date
Vandenbussche Annelies
  • Director, from 24-06-2019 to date
Vermeersch Matthys
  • Director, already before 24-06-2019 to date
Veronique Decaluwé
  • Director, from 24-06-2019 not ended, last confirmed 04-09-2019
  • Chair, already before 01-03-2023 to date
Christiane Loosvelt
  • Vice-chair, from 09-06-2023 to date
Alain Cnudde
  • Director, from 20-05-2025 to date
Anaïs de Bethune
  • Director, from 20-05-2025 to date
Bram Deltour
  • Director, from 20-05-2025 to date
Emile Declercq
  • Director, from 20-05-2025 to date
Jeppe Remy
  • Director, from 20-05-2025 to date
Jeroen David
  • Director, already before 20-05-2025 to date
Liesbeth D'hondt
  • Director, from 20-05-2025 to date
Marie De Clerck
  • Director, from 20-05-2025 to date
Mathieu Desmet
  • Director, already before 20-05-2025 to date
Mike Verslijpe
  • Director, from 20-05-2025 to date
Pieter Soens
  • Director, from 20-05-2025 to date
Wilfried Vanneste
  • Director, already before 20-05-2025 to date
Thomas Raes
  • Waarnemend directeur, from 01-12-2022 to date
  • Algemeen directeur, from 01-09-2025 to date
MADDENS Karel André Jules Dieudonné
  • Algemeen directeur, from 09-06-2023 to date
CALLENS VANDELANOTTE
  • Statutory auditor, from 25-06-2020 to date
VLAMINCK Frederik
  • Director, from 28-05-2008 not ended, last confirmed 11-12-2017
Eddy Van Lancker
  • Director, already before 29-06-2009 not ended, last confirmed 29-06-2009
Vincent Salembier
  • Director, already before 29-06-2009 not ended, last confirmed 29-06-2009
Anthony Vandebuerie
  • Director, already before 15-06-2010 not ended, last confirmed 11-08-2010
Ben Delabie
  • Director, from 15-06-2010 not ended, last confirmed 11-08-2010
Nikolas Cloet
  • Director, from 12-06-2012 not ended, last confirmed 28-08-2012
GODEFROJD Jules
  • Director, from 29-06-2017 not ended, last confirmed 11-12-2017
VERMEERSCH Matthijs
  • Director, from 29-06-2017 not ended, last confirmed 11-12-2017
Karel Maddens
  • Waarnemend directeur, from 01-12-2022 ended, last mentioned 16-03-2023
  • Algemeen directeur, until 01-09-2025
De Coene Philippe Claude
  • Director, from 27-10-2016 to 24-06-2019
  • Director, until 20-05-2025
Eef Vandenbogaerde
  • Director, until 20-05-2025
Koen Byttebier
  • Director, already before 15-06-2010 to 20-05-2025
Luc Lannoy
  • Director, until 20-05-2025
Maxim Veys
  • Chair, from 29-06-2017 ended, last mentioned 04-09-2019
  • Director, from 29-06-2017 to 20-05-2025
Mohamed Ahouna
  • Director, from 24-06-2019 to 20-05-2025
Nawal Maghroud
  • Director, until 20-05-2025
Trui Steenhoudt
  • Director, until 20-05-2025
Vicky Claeys
  • Director, until 20-05-2025
Wouter Allyns
  • Director, until 20-05-2025
Ilse Piers
  • Director (executive), from 16-06-2006 ended, last mentioned 24-06-2016
  • Director, until 04-11-2022
Sven Van Steelant
  • Statutory auditor, from 16-12-2014 to 25-06-2020
Baron dE BETHUNE Jean
  • Director, from 29-06-2017 to 24-06-2019
Eddy Defoor
  • Director, from 29-06-2017 to 24-06-2019
Guy Leleu
  • Director, already before 26-05-2009 to 24-06-2019
Jules Godefroid
  • Director, until 24-06-2019
Laverge Jacques
  • Director, from 29-06-2017 to 24-06-2019
Marc Lemaitre
  • Ontslagnemend bestuurder, until 28-05-2008
  • Director, already before 31-05-2016 to 24-06-2019
Antoon SANSEN
  • Director, already before 26-05-2009 to 29-06-2017
VANSEVENANT Lieve
  • Director, from 31-05-2016 to 29-06-2017
WEYDTS Axel
  • Director, until 29-06-2017
Sliman You-Ala
  • Director, already before 25-06-2015 to 27-09-2016
Els Deleu
  • Director, until 31-05-2016
AUDITAS BEDRIJFSREVISOREN
  • Statutory auditor, from 03-07-2012 to 16-12-2014
BVBA MIEKE WATTEYNE
  • Statutory auditor, until 16-01-2013
Watteyne M.
  • Statutory auditor, from 28-05-2008 to 03-07-2012
DECALUWE Carl
  • Director, already before 29-06-2009 to 12-06-2012
Gérard Parmentier
  • Director, until 15-06-2010
See the board, name and seat on a given date →

Articles of association

Purpose
De vennootschap heeft als hoofdzakelijk doel in het algemeen belang bij te dragen aan het recht op menswaardig wonen en de uitvoering van het Vlaamse woonbeleid. ... 1° het…
Full purpose

De vennootschap heeft als hoofdzakelijk doel in het algemeen belang bij te dragen aan het recht op menswaardig wonen en de uitvoering van het Vlaamse woonbeleid. ... 1° het verbeteren van de woonvoorwaarden ... 7° het samenwerken en overleggen met lokale besturen ...

according to the deed of 28-04-2025

Structure & network

Connections & network

20 connected companies
Depth
't WERKPAND, Shared director W't WERKPANDAlgemeen Ziekenhuis Groeninge, Shared director AZAlgemeenZiekenhuis…BLUEBRIDGE INCUBATIE- EN INNOVATIECENTRUM, Shared director BIBLUEBRIDGEINCUBATIE- EN…DE KRINGLOOPWINKEL DELTAGROEP, Shared director DKDEKRINGLOOPWINKEL…De Vlaamse Radio- en Televisieomroeporganisatie, Shared director DVDe VlaamseRadio- en…Embuild West-Vlaanderen, Shared director EWEmbuildWest-VlaanderenFLUVIUS WEST, Shared director FWFLUVIUS WESTGimv, Shared director GGimvINTERCOMMUNALE LEIEDAL, 4 shared directors ILINTERCOMMUNALELEIEDALIntergemeentelijke Maatschappij voor Openbare Gezondheid in Zuid-West-Vlaanderen, 2 shared directors IMIntergemeente…Maatschappij…INTERNATIONALE LUCHTHAVEN KORTRIJK-WEVELGEM, Shared director ILINTERNATIONALELUCHTHAVEN…Kasteel 't Hooghe, Shared director KHKasteel 'tHoogheLevels, Shared director LLevelsPROMAN Agilitas, Shared director PAPROMANAgilitasSW+ SW+0405.342.610
Shared directors
This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
't WERKPAND
Shared director
→
Algemeen Ziekenhuis Groeninge
Shared director
→
BLUEBRIDGE INCUBATIE- EN INNOVATIECENTRUM
Shared director
→
DE KRINGLOOPWINKEL DELTAGROEP
Shared director
→
Show 16 more companies with a shared director
De Vlaamse Radio- en Televisieomroeporganisatie
Shared director
→
Embuild West-Vlaanderen
Shared director
→
FLUVIUS WEST
Shared director
→
Gimv
Shared director
→
INTERCOMMUNALE LEIEDAL
Shared director
→
Intergemeentelijke Maatschappij voor Openbare Gezondheid in Zuid-West-Vlaanderen
Shared director
→
INTERNATIONALE LUCHTHAVEN KORTRIJK-WEVELGEM
Shared director
→
Kasteel 't Hooghe
Shared director
→
Levels
Shared director
→
PROMAN Agilitas
Shared director
→
SYNTRA WEST
Shared director
→
TELENET GROUP HOLDING
Shared director
→
TELENET VLAANDEREN
Shared director
→
WEST-VLAAMSE DUURZAME LOGISTIEKE WERKVENNOOTSCHAP
Shared director
→
West-Vlaamse Politieschool
Shared director
→
Xpo Group
Shared director
→

Acquisitions and mergers

7 transactions
Took over:DE VLASHAARD
BE 0453.559.231merger by absorption · State Gazette act of 14-07-2023 (2 acts) · effective 09-06-2023
BE 0405.336.175merger by absorption · State Gazette act of 28-08-2017 (2 acts) · effective 28-06-2017
Received a branch of activity from:De Poort vzw, voor wonen en werk
BE 0432.220.320free of charge · State Gazette act of 14-07-2023 · effective 09-06-2023
Received in a demerger part of:EIGEN HAARD IS GOUD WAARD
BE 0405.480.388State Gazette act of 10-10-2017 (3 acts) · effective 31-12-2016
Split off to:WM Elan
BE 0405.412.092partial demerger · State Gazette act of 14-07-2025 (2 acts) · effective 01-01-2025
Split off to:IMPULS MENEN-WERVIK
BE 0405.501.174partial demerger · State Gazette act of 14-07-2023 (2 acts) · effective 09-06-2023
Demerger with:WM Elan
BE 0405.412.092partial demerger · State Gazette act of 29-01-2024 (2 acts) · effective 19-12-2023

Capital and shareholders

Capital over the years
  1. 28-04-2025 Capital stated in the act · 25,926,989 shares
  2. 14-07-2023 Capital increase of 516,120.15 EUR · “verhoging van de fractiewaarde van ieder aandeel”
  3. 14-07-2023 Capital increase of 58,084.08 EUR · to 260,946.94 EUR
  4. 05-05-2023 Capital stated in the act · 20,286,286 shares
  5. 10-10-2017 Capital stated in the act · 66,047.11 EUR · 6,604,711 shares
  6. 28-08-2017 Capital stated in the act · 109,447.11 EUR · 10,944,711 shares
  7. 26-05-2017 Capital stated in the act · 32,227.50 EUR · 12,891 shares
  8. 26-06-2012 Capital stated in the act · 25,000 EUR · 12,891 shares

Public money · subsidies and aid

Flemish government

2022 to 2025 · 21 entries · 30,688,708 EUR awarded · 31,301,143 EUR paid
Year Entries awardedpaid
2025 7 7,454,435 EUR8,856,411 EUR
2024 4 10,081,816 EUR9,027,656 EUR
2023 6 5,976,612 EUR6,344,936 EUR
2022 4 7,175,845 EUR7,072,140 EUR
Schemes
4 entries · 22,198,073 EUR · 22,198,073 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN
4 entries · 4,213,899 EUR · 4,640,543 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN
4 entries · 3,008,316 EUR · 2,932,007 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN
2 entries · 1,047,814 EUR · 1,047,814 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN
1 entry · 179,440 EUR · 179,440 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN
Show 4 more
3 entries · 32,110 EUR · 32,110 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN
1 entry · 8,516 EUR · 8,516 EUR paid · Vlaams Energie- en Klimaatagentschap
1 entry · 540 EUR · 540 EUR paid · Fonds voor Innoveren en Ondernemen
1 entry · 262,100 EUR paid · VLAAMSE MAATSCHAPPIJ VOOR SOCIAAL WONEN

Similar companies · same sector, comparable size

Woonmaatschappij Woonpunt Waas
BE 0405.085.163
Beveren-Kruibeke-Zwijndrecht · Eq €67.3m
Le Logement Molenbeekois
BE 0401.984.331
Sint-Jans-Molenbeek · Eq €66.2m
LA MAISON DES HOMMES
BE 0403.964.715
Flémalle · Eq €65.7m
Woonsprong
BE 0405.260.456
Oostende · Eq €68.3m
Habitations sociales du Roman Pais
BE 0400.363.639
Nivelles · Eq €65.5m
Of 206 companies in sector 68202 we hold annual accounts for 190. 126 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
Founded17-05-1923
Fiscal year end31-12
Activities, NACEBEL 2025
68202Real estate activities
68110Buying and selling of own real estate
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID 0208:0405342610
Also 9925:BE0405342610
Registered 17-06-2025

Register as of 27 September 2026 · Peppol Directory

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