SWA
ActiveSummary
SWA has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €619,805 and a net result of -€13,260. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 17% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-7
Solvency40=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.15 against 1.31 in 2024; short-term debt: 58.4% and cash: 5.7% of total assets), and 85% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 4926 sector peers (2025).
NBB · sector comparisonPosition among 4926 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
5 d early
2023
33 d early
2022
3 d early
2021
3 d late
2020
39 d early
2019
38 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 17 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence 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 What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€13,260
2024 · €221,788
Working capital
€359,804▼ 52.9%
2024 · €763,272
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€421,724▲ 52.4%€415,582▼ 1.5%€467,699▲ 12.5%€381,544▼ 18.4%€88,964▼ 76.7%
Net result€339,698within the sector's middle half▲ 54.7%€333,900within the sector's middle half▼ 1.7%€348,198within the sector's middle half▲ 4.3%€221,788within the sector's middle half▼ 36.3%-€13,260below the sector's middle half
Equity€623,180within the sector's middle half▲ 3.4%€638,080within the sector's middle half▲ 2.4%€667,278within the sector's middle half▲ 4.6%€633,065within the sector's middle half▼ 5.1%€619,805within the sector's middle half▼ 2.1%
Total assets€4.0mwithin the sector's middle half▲ 17.6%€4.6mwithin the sector's middle half▲ 17.1%€4.2mwithin the sector's middle half▼ 9.6%€4.2mwithin the sector's middle half▼ 0.7%€4.1mwithin the sector's middle half▼ 0.9%
Debt€3.3m▲ 20.7%€4.0m▲ 19.8%€3.5m▼ 11.9%€3.5m▲ 0.1%€3.5m▼ 0.7%
Working capital€684,920▲ 16.2%€815,456▲ 19.1%€1.0m▲ 27.9%€763,272▼ 26.8%€359,804▼ 52.9%
Solvency15.7%below the sector's middle half▼ 2.2pp13.8%below the sector's middle half▼ 2.0pp15.9%below the sector's middle half▲ 2.2pp15.2%below the sector's middle half▼ 0.7pp15.0%below the sector's middle half▼ 0.2pp
Staff (FTE)16.1within the sector's middle half▲ 21.1%15.9within the sector's middle half▼ 1.2%14.8within the sector's middle half▼ 6.9%13.4within the sector's middle half▼ 9.5%12.5within the sector's middle half▼ 6.7%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 77% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€1.4m ▲ 42.4%
Current assets
€2.8m ▼ 13.7%
Equity and liabilities €4.1m
Equity
€619,805 ▼ 2.1%
Debt
€3.5m ▼ 0.7%
Debt's share of the balance-sheet total rises from 84.8% to 85.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€474,660▼
2024 · €651,411
Cash flow
€372,435▼
2024 · €491,654
Current ratio
1.15▼
2024 · 1.31
Quick ratio
0.52▼
2024 · 0.67
Debt to equity
5.65▲
2024 · 5.57
ROE
-2.1%▼
2024 · 35.0%
ROA
-0.3%▼
2024 · 5.3%
Interest coverage
6.17▼
2024 · 6.75
Debt ≤ 1 year
€2.4m▼
2024 · €2.4m
Debt > 1 year
€1.1m▲
2024 · €1.1m
Income taxes
€28,940▼
2024 · €71,609
Staff costs
€758,699▼
2024 · €788,486
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,501 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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%.
| 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 2,501 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €624,875 | €661,190 | €744,796 | €788,486 | €758,699 | ▼ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €234,874 | €270,548 | €274,642 | €269,867 | €385,696 | ▲ 42.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €30,360 | -€8,804 | €72,696 | €82,035 | €42,208 | ▼ 48.5% |
| Other operating charges640/8 | €22,176 | €52,415 | €27,472 | €27,672 | €48,718 | ▲ 76.1% |
| Non-recurring operating charges66A | - | €1,662 | €289 | - | €93 | - |
| Gross operating margin9900 | €1.3m | €1.4m | €1.6m | €1.5m | €1.3m | ▼ 14.5% |
| Operating profit (loss)9901 | €421,724 | €415,582 | €467,699 | €381,544 | €88,964 | ▼ 76.7% |
| Financial income75/76B | €5,016 | €11,999 | €3,157 | €8,299 | €3,590 | ▼ 56.7% |
| Recurring financial income75 | €5,016 | €11,999 | €3,157 | €8,299 | €3,590 | ▼ 56.7% |
| Financial charges65/66B | €29,238 | €29,602 | €31,090 | €96,447 | €76,874 | ▼ 20.3% |
| Recurring financial charges65 | €29,238 | €29,602 | €31,090 | €96,447 | €76,874 | ▼ 20.3% |
| Profit (loss) for the period before taxes9903 | €397,502 | €397,978 | €439,765 | €293,397 | €15,680 | ▼ 94.7% |
| Income taxes67/77 | €57,804 | €64,078 | €91,567 | €71,609 | €28,940 | ▼ 59.6% |
| Profit (loss) for the period9904 | €339,698 | €333,900 | €348,198 | €221,788 | -€13,260 | ▼ 106% |
| Profit (loss) for the period to be appropriated9905 | €339,698 | €333,900 | €348,198 | €221,788 | -€13,260 | ▼ 106% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.0m | €4.6m | €4.2m | €4.2m | €4.1m | ▼ 0.9% |
| Fixed assets21/28 | €1.1m | €1.0m | €836,537 | €951,171 | €1.4m | ▲ 42.4% |
| Intangible fixed assets21 | €2,839 | €6,661 | €7,534 | €7,774 | €5,436 | ▼ 30.1% |
| Tangible fixed assets22/27 | €1.1m | €1.0m | €822,618 | €943,127 | €1.3m | ▲ 43.0% |
| Land and buildings22 | €320,778 | €276,347 | €205,751 | €170,894 | €204,538 | ▲ 19.7% |
| Plant, machinery and equipment23 | €606,454 | €574,968 | €461,905 | €568,183 | €628,496 | ▲ 10.6% |
| Furniture and vehicles24 | €57,468 | €53,616 | €55,254 | €140,166 | €120,284 | ▼ 14.2% |
| Leasing and similar rights25 | €68,999 | €135,533 | €99,708 | €63,884 | €395,055 | ▲ 518% |
| Financial fixed assets28 | €2,865 | €135 | €6,385 | €270 | €270 | = |
| Current assets29/58 | €2.9m | €3.6m | €3.4m | €3.2m | €2.8m | ▼ 13.7% |
| Stocks and contracts in progress3 | €1.2m | €1.5m | €1.9m | €1.6m | €1.5m | ▼ 2.9% |
| Stocks30/36 | €1.2m | €1.5m | €1.9m | €1.6m | €1.5m | ▼ 2.9% |
| Amounts receivable within one year40/41 | €988,113 | €1.3m | €727,328 | €1.3m | €1.0m | ▼ 21.3% |
| Trade receivables40 | €986,337 | €1.3m | €727,328 | €1.3m | €954,551 | ▼ 25.2% |
| Other amounts receivable41 | €1,776 | €2,176 | - | €559 | €50,336 | ▲ 8,905% |
| Cash at bank and in hand54/58 | €729,402 | €805,052 | €730,839 | €355,516 | €235,044 | ▼ 33.9% |
| Deferred charges and accrued income490/1 | €5,157 | €6,375 | €7,671 | €10,330 | €8,471 | ▼ 18.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.0m | €4.6m | €4.2m | €4.2m | €4.1m | ▼ 0.9% |
| Equity10/15 | €623,180 | €638,080 | €667,278 | €633,065 | €619,805 | ▼ 2.1% |
| Contributions10/11 | €128,000 | €128,000 | €128,000 | €128,000 | €128,000 | = |
| Capital10 | €128,000 | €128,000 | €128,000 | €128,000 | €128,000 | = |
| Issued capital100 | €128,000 | €128,000 | €128,000 | €128,000 | €128,000 | = |
| Reserves13 | €472,800 | €487,800 | €517,800 | €492,800 | €482,800 | ▼ 2.0% |
| Non-distributable reserves130/1 | €12,800 | €12,800 | €12,800 | €12,800 | €12,800 | = |
| Legal reserve130 | €12,800 | €12,800 | €12,800 | €12,800 | €12,800 | = |
| Distributable reserves133 | €460,000 | €475,000 | €505,000 | €480,000 | €470,000 | ▼ 2.1% |
| Profit (loss) carried forward14 | €22,380 | €22,280 | €21,478 | €12,265 | €9,005 | ▼ 26.6% |
| Amounts payable17/49 | €3.3m | €4.0m | €3.5m | €3.5m | €3.5m | ▼ 0.7% |
| Amounts payable after more than one year17 | €1.1m | €1.2m | €1.2m | €1.1m | €1.1m | ▲ 1.6% |
| Financial debts170/4 | €747,444 | €623,306 | €429,164 | €338,322 | €633,080 | ▲ 87.1% |
| Other amounts payable178/9 | €373,700 | €601,330 | €782,730 | €737,628 | €459,805 | ▼ 37.7% |
| Amounts payable within one year42/48 | €2.2m | €2.8m | €2.3m | €2.4m | €2.4m | ▼ 1.5% |
| Current portion of amounts payable after more than one year42 | €257,057 | €205,602 | €192,999 | €175,120 | €279,178 | ▲ 59.4% |
| Financial debts43 | €750,000 | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Credit institutions430/8 | €750,000 | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Trade debts44 | €755,935 | €867,905 | €346,178 | €560,637 | €349,277 | ▼ 37.7% |
| Suppliers440/4 | €755,935 | €867,905 | €346,178 | €560,637 | €349,277 | ▼ 37.7% |
| Taxes, remuneration and social security45 | €132,121 | €126,964 | €197,562 | €196,776 | €121,750 | ▼ 38.1% |
| Taxes450/3 | €70,754 | €55,509 | €115,683 | €118,211 | €41,147 | ▼ 65.2% |
| Remuneration and social security454/9 | €61,367 | €71,454 | €81,879 | €78,565 | €80,603 | ▲ 2.6% |
| Other amounts payable47/48 | €319,000 | €320,400 | €321,800 | €260,200 | €405,801 | ▲ 56.0% |
| Accrued charges and deferred income492/3 | - | - | - | €5,428 | €1,193 | ▼ 78.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €339,698 | €333,900 | €348,198 | €221,788 | -€13,260 | ▼ 106% |
| + Depreciation and write-downs630 | €234,874 | €270,548 | €274,642 | €269,867 | €385,696 | ▲ 42.9% |
| Operating cash flow (approximation) | €574,572 | €604,447 | €622,840 | €491,654 | €372,435 | ▼ 24.2% |
| Investment in fixed assets (approximation) | - | -€258,404 | -€63,920 | -€384,501 | -€788,603 | ▼ 105% |
| Change in cash | - | €75,650 | -€74,213 | -€375,324 | -€120,471 | ▲ 67.9% |
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
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-09
Financial
Weakest financial yearnet -€13,260
Net result drops to -€13,260, the lowest in the series.
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-03
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-09
Financial
Highest result since 2018net €348,198 ▲4.3%
Operating result €467,699, net result €348,198, both a record.
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 3 days late
2021
22-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Equity above €500,000Eq €602,482 ▲35.1%
3 profitable years in a row build equity to €602,482.
23-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
27-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 33 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 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, Nassogne · 1 establishment unit since 2007
Ground area
2.4 ha
Building footprint
3,160 m²
Parcel 83024A0545/00F000, Wallonia. Linked by address, not a title deed.
1 establishment unit
SAW
since 20072.161.265.611
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83024A0545/00F000 | Wallonia | 2.4 ha | 1 · 3,160 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.
Structure & network
Owners and holdings
1 ownerOwners 1
- SMHparentSourceaccounts SMH 30-09-202598.22%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
H. BLOMME
BE 0459.467.224
Torhout · Eq €616,118
ATELIERS ANDRÉ
BE 0456.229.008
Blégny · Eq €615,826
VAN HECK & C°
BE 0454.395.411
Wichelen · Eq €623,813
ANTENS
BE 0428.903.316
Baarle-Hertog · Eq €627,640
LANDBOUWMACHINES GUEDENS M.
BE 0886.660.073
Lummen · Eq €628,881
Of 805 companies in sector 46610 we hold annual accounts for 566. 467 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-01-2006
Fiscal year end30-09
Activities, NACEBEL 2025
46610Wholesale trade
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
Contact
Website
www.swasa.be
E-mail
info@swasa.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0878537215
Also
9925:BE0878537215
Registered
21-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.