SWM
ActiveSummary
SWM has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €339,844 and a net result of -€30,852. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 22% of 1040 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability30▼-21
Solvency48▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity tight (current ratio 1.04 against 1.16 in 2024; short-term debt: 42.2% and cash: 1.5% of total assets), and 76.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
23.4%
Return on assets
-2.1%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 1040 sector peers (2025).
NBB · sector comparisonPosition among 1040 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 13-02-2026, 13 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 · 8 filingsDeviation from the deadline
2025
13 d late
2024
4 d late
2023
on the day
2022
1 d early
2021
29 d late
2020
26 d late
2019
1 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 company by total assets in Dentergem, Manufacturing sector
Equity
€339,844▼ 8.3%
2024 · €370,696
Total assets
€1.4m▲ 3.8%
2024 · €1.4m
Net result
-€30,852
2024 · €11,904
Working capital
€23,918▼ 71.8%
2024 · €84,793
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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€69,733▼ 35.3%€83,465▲ 19.7%€55,352▼ 33.7%€64,893▲ 17.2%-€16,115
Net result€50,690within the sector's middle half▼ 28.9%€53,297within the sector's middle half▲ 5.1%€18,492within the sector's middle half▼ 65.3%€11,904within the sector's middle half▼ 35.6%-€30,852below the sector's middle half
Equity€288,604within the sector's middle half▼ 5.2%€341,900within the sector's middle half▲ 18.5%€358,792within the sector's middle half▲ 4.9%€370,696within the sector's middle half▲ 3.3%€339,844within the sector's middle half▼ 8.3%
Total assets€937,312within the sector's middle half▲ 24.7%€1.1mwithin the sector's middle half▲ 16.3%€1.4mwithin the sector's middle half▲ 31.8%€1.4mwithin the sector's middle half▼ 2.8%€1.4mwithin the sector's middle half▲ 3.8%
Debt€648,709▲ 45.0%€748,087▲ 15.3%€1.1m▲ 44.0%€1.0m▼ 4.8%€1.1m▲ 8.2%
Working capital€40,308▼ 74.0%€52,240▲ 29.6%€126,156▲ 141%€84,793▼ 32.8%€23,918▼ 71.8%
Solvency30.8%within the sector's middle half▼ 9.7pp31.4%within the sector's middle half▲ 0.6pp25.0%below the sector's middle half▼ 6.4pp26.6%below the sector's middle half▲ 1.6pp23.4%below the sector's middle half▼ 3.1pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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 turns negative in 2025: a loss of €16,115 after €64,893 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€813,826 ▲ 3.4%
Current assets
€635,453 ▲ 4.3%
Equity and liabilities €1.4m
Equity
€339,844 ▼ 8.3%
Debt
€1.1m ▲ 8.2%
Debt's share of the balance-sheet total rises from 73.4% to 76.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€66,457▼
2024 · €147,743
Cash flow
€51,721▼
2024 · €94,754
Current ratio
1.04▼
2024 · 1.16
Quick ratio
0.52▲
2024 · 0.38
Debt to equity
3.26▲
2024 · 2.77
ROE
-9.1%▼
2024 · 3.2%
ROA
-2.1%▼
2024 · 0.9%
Interest coverage
1.64▼
2024 · 3.69
Debt ≤ 1 year
€611,535▲
2024 · €524,274
Debt > 1 year
€497,900▼
2024 · €499,084
Income taxes
€455▼
2024 · €13,146
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 745 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
1.2%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 745 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €3,500 | €1,510 | ▼ 56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,501 | €54,705 | €62,217 | €82,850 | €82,573 | ▼ 0.3% |
| Other operating charges640/8 | - | €4,243 | €45,846 | €4,833 | €29,375 | ▲ 508% |
| Non-recurring operating charges66A | - | - | €15,122 | €0 | €5,564 | - |
| Gross operating margin9900 | €135,141 | €142,413 | €178,537 | €152,575 | €101,397 | ▼ 33.5% |
| Operating profit (loss)9901 | €69,733 | €83,465 | €55,352 | €64,893 | -€16,115 | ▼ 125% |
| Financial income75/76B | - | €2,321 | €56 | €189 | €26,161 | ▲ 13,725% |
| Recurring financial income75 | €3,056 | €2,321 | €56 | €189 | €670 | ▲ 254% |
| Non-recurring financial income76B | - | - | - | - | €25,490 | - |
| Financial charges65/66B | - | €10,823 | €21,082 | €40,032 | €40,442 | ▲ 1.0% |
| Recurring financial charges65 | €18,497 | €10,823 | €21,082 | €40,032 | €40,442 | ▲ 1.0% |
| Profit (loss) for the period before taxes9903 | €54,292 | €74,963 | €34,326 | €25,050 | -€30,397 | ▼ 221% |
| Income taxes67/77 | €3,602 | €21,666 | €15,834 | €13,146 | €455 | ▼ 96.5% |
| Profit (loss) for the period9904 | €50,690 | €53,297 | €18,492 | €11,904 | -€30,852 | ▼ 359% |
| Profit (loss) for the period to be appropriated9905 | €50,690 | €53,297 | €18,492 | €11,904 | -€30,852 | ▼ 359% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €937,312 | €1.1m | €1.4m | €1.4m | €1.4m | ▲ 3.8% |
| Fixed assets21/28 | €466,185 | €490,736 | €782,643 | €787,070 | €813,826 | ▲ 3.4% |
| Tangible fixed assets22/27 | €419,235 | €443,786 | €735,693 | €740,120 | €766,876 | ▲ 3.6% |
| Land and buildings22 | - | €65,735 | €374,189 | €353,798 | €363,730 | ▲ 2.8% |
| Plant, machinery and equipment23 | - | €96,728 | €99,998 | €109,063 | €97,949 | ▼ 10.2% |
| Furniture and vehicles24 | - | €65,241 | €18,422 | €23,111 | €23,509 | ▲ 1.7% |
| Leasing and similar rights25 | - | €51,634 | €85,572 | €108,073 | €147,050 | ▲ 36.1% |
| Other tangible fixed assets26 | - | €164,447 | €157,511 | €146,075 | €134,639 | ▼ 7.8% |
| Financial fixed assets28 | €46,950 | €46,950 | €46,950 | €46,950 | €46,950 | = |
| Current assets29/58 | €471,127 | €599,251 | €653,651 | €609,066 | €635,453 | ▲ 4.3% |
| Amounts receivable after more than one year29 | - | €25,906 | €33,919 | €33,919 | €33,919 | = |
| Other amounts receivable291 | - | €25,906 | €33,919 | €33,919 | €33,919 | = |
| Stocks and contracts in progress3 | €8,181 | €326,098 | €275,535 | €407,339 | €319,991 | ▼ 21.4% |
| Stocks30/36 | - | €18,426 | €20,606 | €21,015 | €31,500 | ▲ 49.9% |
| Contracts in progress37 | - | €307,672 | €254,929 | €386,324 | €288,491 | ▼ 25.3% |
| Amounts receivable within one year40/41 | €225,789 | €61,571 | €238,744 | €82,135 | €219,359 | ▲ 167% |
| Trade receivables40 | - | €16,560 | €192,543 | €50,266 | €172,855 | ▲ 244% |
| Other amounts receivable41 | - | €45,011 | €46,201 | €31,869 | €46,503 | ▲ 45.9% |
| Cash at bank and in hand54/58 | €75,851 | €182,713 | €103,017 | €82,322 | €22,002 | ▼ 73.3% |
| Deferred charges and accrued income490/1 | - | €2,963 | €2,435 | €3,352 | €40,184 | ▲ 1,099% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €937,312 | €1.1m | €1.4m | €1.4m | €1.4m | ▲ 3.8% |
| Equity10/15 | €288,604 | €341,900 | €358,792 | €370,696 | €339,844 | ▼ 8.3% |
| Contributions10/11 | - | €55,000 | €55,000 | €55,000 | €55,000 | = |
| Reserves13 | €233,604 | €286,900 | €303,792 | €315,696 | €315,696 | = |
| Distributable reserves133 | - | €286,900 | €303,792 | €315,696 | €315,696 | = |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | -€30,852 | - |
| Amounts payable17/49 | €648,709 | €748,087 | €1.1m | €1.0m | €1.1m | ▲ 8.2% |
| Amounts payable after more than one year17 | €217,889 | €201,075 | €550,007 | €499,084 | €497,900 | ▼ 0.2% |
| Financial debts170/4 | - | €201,075 | €550,007 | €499,084 | €497,900 | ▼ 0.2% |
| Amounts payable within one year42/48 | €430,820 | €547,012 | €527,495 | €524,274 | €611,535 | ▲ 16.6% |
| Current portion of amounts payable after more than one year42 | - | €93,251 | €105,804 | €123,405 | €159,134 | ▲ 29.0% |
| Financial debts43 | - | €200,000 | €250,000 | €250,000 | €250,000 | = |
| Credit institutions430/8 | - | €200,000 | €250,000 | €250,000 | €250,000 | = |
| Trade debts44 | €52,186 | €225,560 | €95,314 | €93,722 | €97,078 | ▲ 3.6% |
| Suppliers440/4 | - | €225,560 | €95,314 | €93,722 | €97,078 | ▲ 3.6% |
| Taxes, remuneration and social security45 | - | €641 | €15,039 | €14,721 | €91,033 | ▲ 518% |
| Taxes450/3 | - | €641 | €15,039 | €14,721 | €91,033 | ▲ 518% |
| Other amounts payable47/48 | - | €27,559 | €61,337 | €42,426 | €14,291 | ▼ 66.3% |
| Accrued charges and deferred income492/3 | - | - | - | €2,083 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50,690 | €53,297 | €18,492 | €11,904 | -€30,852 | ▼ 359% |
| + Depreciation and write-downs630 | €47,501 | €54,705 | €62,217 | €82,850 | €82,573 | ▼ 0.3% |
| Operating cash flow (approximation) | €98,191 | €108,001 | €80,709 | €94,754 | €51,721 | ▼ 45.4% |
| Investment in fixed assets (approximation) | - | -€79,256 | -€354,123 | -€87,278 | -€109,329 | ▼ 25.3% |
| Change in cash | - | €106,863 | -€79,696 | -€20,696 | -€60,320 | ▼ 191% |
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
13-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 13 days late
2025
30-06
Financial
Weakest financial yearnet -€30,852
Net result drops to -€30,852, the lowest in the series.
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 29 days late
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
01-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 1 day late
2019
18-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Dentergem · 1 establishment unit since 2016
Ground area
1,204 m²
Building footprint
156 m²
Volume, LiDAR
279 m³
Parcel 37008C0005/00R000, Flanders · tallest building 5.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Heuvelhoekstraat(Oes) 36, 8720 Dentergem
since 20162.259.190.475
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37008C0005/00R000 | Flanders | 1,204 m² | 1 · 156 m² | 5.2 m · 1 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 3 entries · 5,927 EUR awarded · 5,927 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 0 EUR | 5,927 EUR |
| 2024 | 1 | 5,927 EUR | 0 EUR |
Schemes
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Of 3,984 companies in sector 25110 we hold annual accounts for 2,145. 1,625 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
Founded17-11-2016
Fiscal year end30-06
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
Contact
Website
www.s-w-m.be
E-mail
wolfgang@s-w-m.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0666467697
Also
9925:BE0666467697
Registered
26-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.