SWAAB
ActiveSummary
SWAAB has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34k and a net result of €-18k. Equity is shrinking by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 34% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability30▲+30
Solvency58▼-10
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.66 in 2024; short-term debt: 56.1% and cash: 19.1% of total assets), and 67.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
32.9%
Return on assets
-17.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-18k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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
27 d late
2024
37 d late
2023
28 d late
2022
31 d late
2021
28 d late
2020
59 d late
2019
89 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€34k▼ 34.2%
2024 · €51k
Total assets
€103k▼ 13.3%
2024 · €119k
Net result
€-18k▲ 38.8%
2024 · €-29k
Working capital
€14k▼ 45.6%
2024 · €26k
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€-2k▲ 69.9%€1k€-4k€-29k▼ 645%€-17k▲ 41.4%
Net result€-2k▲ 60.8%€731€-4k€-29k▼ 686%€-18k▲ 38.8%
Equity€83k▼ 2.3%€84k▲ 0.9%€80k▼ 4.4%€51k▼ 35.8%€34k▼ 34.2%
Total assets€107k▼ 29.1%€196k▲ 84.5%€165k▼ 16.0%€119k▼ 28.0%€103k▼ 13.3%
Debt€23k▼ 64.0%€113k▲ 380%€85k▼ 24.6%€67k▼ 20.7%€69k▲ 2.7%
Working capital€75k▼ 1.1%€41k▼ 44.9%€48k▲ 16.6%€26k▼ 46.9%€14k▼ 45.6%
Staff (FTE)2.5=2.5=2.5=2.5=2.5=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17k in 2025 against €29k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €103k
Fixed assets
€31k ▼ 42.4%
Current assets
€72k ▲ 11.3%
Equity and liabilities €103k
Equity
€34k ▼ 34.2%
Debt
€69k ▲ 2.7%
Debt's share of the balance-sheet total rises from 56.7% to 67.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€6k▲
2024 · €-6k
Cash flow
€5k▲
2024 · €-6k
Current ratio
1.24▼
2024 · 1.66
Quick ratio
0.63▼
2024 · 0.68
Debt to equity
2.04▲
2024 · 1.31
ROE
-51.9%▲
2024 · -55.8%
ROA
-17.1%▲
2024 · -24.2%
Interest coverage
3.62▲
2024 · -3.27
Debt ≤ 1 year
€58k▲
2024 · €39k
Debt > 1 year
€11k▼
2024 · €28k
Income taxes
€273▼
2024 · €293
Staff costs
€136k▲
2024 · €129k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €9k | - | - | - | - |
| Remuneration, social security and pensions62 | €111k | €129k | €143k | €129k | €136k | ▲ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €20k | €27k | €23k | €23k | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €2k | - | - | - |
| Other operating charges640/8 | €3k | €3k | €3k | €4k | €3k | ▼ 10.1% |
| Gross operating margin9900 | €117k | €153k | €172k | €127k | €145k | ▲ 14.3% |
| Operating profit (loss)9901 | €-2k | €1k | €-4k | €-29k | €-17k | ▲ 41.4% |
| Financial income75/76B | €3k | €2k | €3k | €2k | €1k | ▼ 35.3% |
| Recurring financial income75 | €3k | €2k | €3k | €2k | €1k | ▼ 35.3% |
| Financial charges65/66B | €1k | €2k | €2k | €2k | €2k | ▲ 2.3% |
| Recurring financial charges65 | €1k | €2k | €2k | €2k | €2k | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | €139 | €2k | €-3k | €-28k | €-17k | ▲ 39.1% |
| Income taxes67/77 | €2k | €901 | €577 | €293 | €273 | ▼ 6.7% |
| Profit (loss) for the period9904 | €-2k | €731 | €-4k | €-29k | €-18k | ▲ 38.8% |
| Transfer from tax-exempt reserves789 | €8k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €6k | €731 | €-4k | €-29k | €-18k | ▲ 38.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107k | €196k | €165k | €119k | €103k | ▼ 13.3% |
| Fixed assets21/28 | €10k | €105k | €77k | €54k | €31k | ▼ 42.4% |
| Tangible fixed assets22/27 | €10k | €105k | €77k | €54k | €31k | ▼ 42.4% |
| Plant, machinery and equipment23 | €3k | €950 | - | - | - | - |
| Furniture and vehicles24 | €7k | €4k | €397 | €232 | €67 | ▼ 71.1% |
| Leasing and similar rights25 | - | €100k | €77k | €54k | €31k | ▼ 42.3% |
| Current assets29/58 | €97k | €92k | €88k | €64k | €72k | ▲ 11.3% |
| Stocks and contracts in progress3 | €32k | €41k | €41k | €38k | €35k | ▼ 6.7% |
| Stocks30/36 | €32k | €41k | €41k | €38k | €35k | ▼ 6.7% |
| Amounts receivable within one year40/41 | €5k | €6k | €2k | €1k | €3k | ▲ 156% |
| Trade receivables40 | €5k | €5k | - | - | €742 | - |
| Other amounts receivable41 | €265 | €972 | €2k | €1k | €3k | ▲ 98.2% |
| Cash at bank and in hand54/58 | €47k | €28k | €28k | €19k | €20k | ▲ 3.8% |
| Deferred charges and accrued income490/1 | €13k | €16k | €17k | €6k | €13k | ▲ 116% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107k | €196k | €165k | €119k | €103k | ▼ 13.3% |
| Equity10/15 | €83k | €84k | €80k | €51k | €34k | ▼ 34.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €27k | €27k | €27k | €27k | €24k | ▼ 10.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €26k | €26k | €26k | €26k | €23k | ▼ 11.4% |
| Profit (loss) carried forward14 | €37k | €38k | €34k | €5k | €-9k | ▼ 270% |
| Amounts payable17/49 | €23k | €113k | €85k | €67k | €69k | ▲ 2.7% |
| Amounts payable after more than one year17 | €2k | €62k | €45k | €28k | €11k | ▼ 60.2% |
| Financial debts170/4 | €2k | €62k | €45k | €28k | €11k | ▼ 60.2% |
| Amounts payable within one year42/48 | €22k | €51k | €40k | €39k | €58k | ▲ 48.6% |
| Current portion of amounts payable after more than one year42 | €3k | €17k | €15k | €16k | €16k | ▲ 1.2% |
| Trade debts44 | €9k | €24k | €11k | €8k | €12k | ▲ 54.7% |
| Suppliers440/4 | €9k | €24k | €11k | €8k | €12k | ▲ 54.7% |
| Taxes, remuneration and social security45 | €4k | €3k | €3k | €245 | €1k | ▲ 489% |
| Taxes450/3 | €2k | - | €1k | €245 | €4 | ▼ 98.4% |
| Remuneration and social security454/9 | €2k | €3k | €2k | - | €1k | - |
| Other amounts payable47/48 | €6k | €7k | €10k | €15k | €28k | ▲ 86.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €731 | €-4k | €-29k | €-18k | ▲ 38.8% |
| + Depreciation and write-downs630 | €5k | €20k | €27k | €23k | €23k | = |
| Operating cash flow (approximation) | €3k | €20k | €24k | €-6k | €5k | ▲ 197% |
| Investment in fixed assets (approximation) | - | €-114k | €0 | €0 | €0 | - |
| Change in cash | - | €-18k | €-264 | €-9k | €720 | ▲ 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.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
06-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 37 days late
2024
31-12
Financial
Weakest financial yearnet €-29k
Net result drops to €-29k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €731
Net result €731 after 3 loss-making years.
28-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 59 days late
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 42 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Kontich · 1 establishment unit since 1989
Ground area
76 m²
Parcel 11602E0232/00R000, Flanders. Linked by address, not a title deed.
1 establishment unit
PORTAS
since 19892.045.951.516
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11602E0232/00R000 | Flanders | 76 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.
Similar companies · same sector, comparable size
INKUBUS
BE 0863.061.656
Merelbeke-Melle · Eq €34k
PARKETVLOEREN PATRICK MULDERS
BE 0472.474.132
Bocholt · Eq €33k
ATELIER CELESTE
BE 0541.510.220
Beringen · Eq €35k
TOP SOL
BE 0433.610.685
Ganshoren · Eq €32k
EUROFLOORS
BE 0895.736.404
Brussel · Eq €36k
Of 748 companies in sector 43332 we hold annual accounts for 411. 313 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 (pre-2019)
Founded24-11-1989
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43332Laying of wooden floor and wall coverings
Scores and ratios are computed by Checked and are not a credit decision.