SWINNEN
ActiveSummary
SWINNEN has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€24,212) and a net result of €203,737. Equity is shrinking by ~58% per year across the filed fiscal years. Its solvency ranks better than 5% of 7461 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+100
Solvency12▲+12
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.88 against 0.37 in 2023; short-term debt: 113% and cash: 0.7% of total assets), and equity is negative.
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Signals
Six 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 2024Solvency, return and age of the figures
Solvency
-13%
Return on assets
109.6%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 7461 sector peers (2024).
NBB · sector comparisonPosition among 7461 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-09-2025, 53 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
53 d late
2023
28 d late
2022
59 d late
2021
89 d late
2020
247 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 95 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 (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
-€24,212▲ 89.4%
2023 · -€227,948
Total assets
€185,880▲ 115%
2023 · €86,433
Net result
€203,737
2023 · -€83,901
Working capital
-€24,212▲ 81.5%
2023 · -€131,115
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20202021202220232024
Operating result-€23,498▲ 69.0%-€14,969▲ 36.3%-€44,185▼ 195%-€82,973▼ 87.8%€207,097
Net result-€28,783below the sector's middle half▲ 72.4%-€29,011below the sector's middle half▼ 0.8%-€50,357below the sector's middle half▼ 73.6%-€83,901below the sector's middle half▼ 66.6%€203,737above the sector's middle half
Equity-€64,680below the sector's middle half▼ 80.2%-€93,691below the sector's middle half▼ 44.9%-€144,048below the sector's middle half▼ 53.7%-€227,948below the sector's middle half▼ 58.2%-€24,212below the sector's middle half▲ 89.4%
Total assets€258,727below the sector's middle half▼ 6.7%€151,238below the sector's middle half▼ 41.5%€152,452below the sector's middle half▲ 0.8%€86,433below the sector's middle half▼ 43.3%€185,880below the sector's middle half▲ 115%
Debt€323,407▲ 3.3%€244,929▼ 24.3%€296,499▲ 21.1%€314,381▲ 6.0%€210,092▼ 33.2%
Working capital-€71,729below the sector's middle half▲ 32.7%-€58,860below the sector's middle half▲ 17.9%-€33,865below the sector's middle half▲ 42.5%-€131,115below the sector's middle half▼ 287%-€24,212below the sector's middle half▲ 81.5%
Solvency-25.0%below the sector's middle half▼ 12.1pp-61.9%below the sector's middle half▼ 37.0pp-94.5%below the sector's middle half▼ 32.5pp-263.7%below the sector's middle half▼ 169.2pp-13.0%below the sector's middle half▲ 250.7pp
Current ratio0.74below the sector's middle half▲ 0.090.68below the sector's middle half▼ 0.060.81below the sector's middle half▲ 0.130.37below the sector's middle half▼ 0.440.88below the sector's middle half▲ 0.52
Return on assets (ROA)-11.1%below the sector's middle half▲ 26.5pp-19.2%below the sector's middle half▼ 8.1pp-33.0%below the sector's middle half▼ 13.8pp-97.1%below the sector's middle half▼ 64.0pp109.6%above the sector's middle half▲ 206.7pp
Staff (FTE)2below the sector's middle half=2below the sector's middle half=2below the sector's middle half=2within the sector's middle half=2within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €207,097 after a loss of €82,973 in 2023, the highest result in the available series.
Key figures and ratios
EBITDA
€207,372▲
2023 · -€81,538
Cash flow
€204,012▲
2023 · -€82,466
Debt to equity
-8.68▼
2023 · -1.38
Interest coverage
34.96▲
2023 · -87.92
Debt ≤ 1 year
€210,092▲
2023 · €206,953
Debt > 1 year
€0▼
2023 · €107,428
Staff costs
€94,432▲
2023 · €62,190
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 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% | 1.7% |
| 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 75% 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 3,798 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €42,118 | €49,769 | €51,780 | €62,190 | €94,432 | ▲ 51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,456 | €25,457 | €13,907 | €1,435 | €275 | ▼ 80.9% |
| Other operating charges640/8 | €2,850 | €3,152 | €4,117 | €2,277 | €1,682 | ▼ 26.2% |
| Gross operating margin9900 | €46,926 | €63,410 | €25,618 | -€17,071 | €303,485 | ▲ 1,878% |
| Operating profit (loss)9901 | -€23,498 | -€14,969 | -€44,185 | -€82,973 | €207,097 | ▲ 350% |
| Financial income75/76B | €1,909 | €0 | - | - | €2,572 | - |
| Recurring financial income75 | €1,909 | €0 | - | - | €2,572 | - |
| Financial charges65/66B | €7,194 | €14,042 | €6,172 | €927 | €5,932 | ▲ 540% |
| Recurring financial charges65 | €7,194 | €14,042 | €4,470 | €927 | €5,932 | ▲ 540% |
| Non-recurring financial charges66B | - | - | €1,701 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | -€28,783 | -€29,011 | -€50,357 | -€83,901 | €203,737 | ▲ 343% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€28,783 | -€29,011 | -€50,357 | -€83,901 | €203,737 | ▲ 343% |
| Profit (loss) for the period to be appropriated9905 | -€28,783 | -€29,011 | -€50,357 | -€83,901 | €203,737 | ▲ 343% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €258,727 | €151,238 | €152,452 | €86,433 | €185,880 | ▲ 115% |
| Fixed assets21/28 | €51,681 | €26,224 | €12,317 | €10,594 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €51,681 | €26,224 | €12,317 | €10,594 | €0 | ▼ 100% |
| Land and buildings22 | €0 | - | - | - | - | - |
| Plant, machinery and equipment23 | €26,363 | €18,583 | €10,803 | €10,319 | €0 | ▼ 100% |
| Furniture and vehicles24 | €25,061 | €7,561 | €1,514 | €275 | €0 | ▼ 100% |
| Other tangible fixed assets26 | €257 | €80 | €0 | - | - | - |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €207,045 | €125,014 | €140,134 | €75,839 | €185,880 | ▲ 145% |
| Stocks and contracts in progress3 | €161,739 | €27,903 | €40,364 | €13,823 | €0 | ▼ 100% |
| Stocks30/36 | €27,582 | €15,554 | €30,147 | €5,823 | €0 | ▼ 100% |
| Contracts in progress37 | €134,157 | €12,349 | €10,218 | €8,000 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €42,761 | €94,613 | €97,265 | €60,860 | €183,902 | ▲ 202% |
| Trade receivables40 | €39,809 | €94,166 | €96,207 | €58,986 | €67,279 | ▲ 14.1% |
| Other amounts receivable41 | €2,953 | €447 | €1,058 | €1,874 | €116,623 | ▲ 6,123% |
| Cash at bank and in hand54/58 | €297 | €1,011 | €648 | €0 | €1,367 | - |
| Deferred charges and accrued income490/1 | €2,248 | €1,487 | €1,858 | €1,155 | €611 | ▼ 47.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €258,727 | €151,238 | €152,452 | €86,433 | €185,880 | ▲ 115% |
| Equity10/15 | -€64,680 | -€93,691 | -€144,048 | -€227,948 | -€24,212 | ▲ 89.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €0 | - | - | - |
| Issued capital100 | €62,000 | €62,000 | €0 | - | - | - |
| Outside capital11 | - | - | €62,000 | €62,000 | €62,000 | = |
| Other1109/19 | - | - | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €58,588 | €58,588 | €58,588 | €58,588 | €58,588 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €52,388 | €52,388 | €52,388 | €52,388 | €52,388 | = |
| Profit (loss) carried forward14 | -€185,268 | -€214,279 | -€264,636 | -€348,537 | -€144,800 | ▲ 58.5% |
| Amounts payable17/49 | €323,407 | €244,929 | €296,499 | €314,381 | €210,092 | ▼ 33.2% |
| Amounts payable after more than one year17 | €44,632 | €61,054 | €122,500 | €107,428 | €0 | ▼ 100% |
| Financial debts170/4 | €7,132 | €3,554 | €0 | - | - | - |
| Other amounts payable178/9 | €37,500 | €57,500 | €122,500 | €107,428 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €278,774 | €183,874 | €173,999 | €206,953 | €210,092 | ▲ 1.5% |
| Current portion of amounts payable after more than one year42 | €9,537 | €5,931 | €0 | - | - | - |
| Financial debts43 | €51,341 | €50,000 | €60,581 | €63,611 | €0 | ▼ 100% |
| Credit institutions430/8 | €51,341 | €50,000 | €60,581 | €63,611 | €0 | ▼ 100% |
| Trade debts44 | €148,168 | €33,983 | €36,864 | €80,749 | €60,625 | ▼ 24.9% |
| Suppliers440/4 | €148,168 | €33,983 | €36,864 | €80,749 | €60,625 | ▼ 24.9% |
| Taxes, remuneration and social security45 | €34,472 | €18,879 | €22,709 | €51,170 | €63,486 | ▲ 24.1% |
| Taxes450/3 | €2,477 | €692 | €3,592 | €10,027 | €12,640 | ▲ 26.1% |
| Remuneration and social security454/9 | €31,995 | €18,187 | €19,117 | €41,143 | €50,846 | ▲ 23.6% |
| Other amounts payable47/48 | €35,256 | €75,082 | €53,845 | €11,423 | €85,981 | ▲ 653% |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€28,783 | -€29,011 | -€50,357 | -€83,901 | €203,737 | ▲ 343% |
| + Depreciation and write-downs630 | €25,456 | €25,457 | €13,907 | €1,435 | €275 | ▼ 80.9% |
| Operating cash flow (approximation) | -€3,327 | -€3,554 | -€36,450 | -€82,466 | €204,012 | ▲ 347% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €288 | €10,319 | ▲ 3,484% |
| Change in cash | - | €714 | -€363 | -€648 | €1,367 | ▲ 311% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
22-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 53 days late
2024
31-12
Financial
Back to profitnet €203,737
Net result €203,737 after 6 loss-making years.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 59 days late
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 89 days late
04-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 247 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet -€104,352
Net result drops to -€104,352, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
21-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 52 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Houthalen-Helchteren · 1 establishment unit since 1989
Ground area
1.6 ha
Building footprint
1,068 m²
Volume, LiDAR
5,716 m³
Parcel 72015D0872/00L002, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SWINNEN NV
since 19892.044.608.164
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72015D0872/00L002 | Flanders | 1.6 ha | 1 · 1,068 m² | 6.9 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.
Structure & network
Owners and holdings
1 ownerOwners 1
- Johannes Swinnennatural personSourceown accounts 2023100%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of SWINNEN and those 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 41 EUR awarded · 41 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 41 EUR | 41 EUR |
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Of 8,464 companies in sector 43120 we hold annual accounts for 3,233. 2,585 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
Founded01-04-1989
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
43120Site preparation
47521Retail sale of hardware, building materials, paint and glass (general range)
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438136231
Also
9925:BE0438136231
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.