THE W
ActiveThe computed 12-month bankruptcy probability of THE W is 2.3% (moderate). The 2025 annual accounts show equity of €5.92M and a net result of €36k. Equity remains stable across the filed fiscal years (±0.6% per year). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▲+1
Solvency100▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €350k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 0.15 in 2024; short-term debt: 0.6% and cash: 1.1% of total assets), and 11.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
88.9%
Return on assets
0.5%
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 28-07-2026, 3 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
3 d early
2024
3 d early
2023
6 d early
2022
32 d early
2021
18 d early
2020
43 d early
2019
3 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€220
EBIT margin
-18915.9%
Net result
€36k▲ 51.9%
2024 · €23k
2019: €-177k
2020: €-41k
2021: €-43k
2022: €-3k
2023: €37k
2024: €23k
2019 → 2025
Working capital
€28k
2024 · €-606k
2019: €19k
2020: €-22k
2021: €1.10M
2022: €-605k
2023: €-10k
2024: €-606k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€220
Equity€5.83M-€5.83M=€5.86M▲ 0.6%€5.89M▲ 0.4%€5.92M▲ 0.6%
Operating result€-55k-€-76k▼ 38.1%€-42k▲ 45.3%€-44k▼ 5.5%€-48k▼ 8.5%
Net result€-43k-€-3k▲ 94.2%€37k€23k▼ 37.2%€36k▲ 51.9%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €48k in 2025 against €44k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.67M
Fixed assets
€6.59M▼ 22.5%
Current assets
€71k▼ 33.0%
Equity and liabilities €6.67M
Equity
€5.92M▲ 0.6%
Debt
€743k▼ 72.8%
The debt ratio falls from 31.7% to 11.1%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
88.9%▲
2024 · 68.3%
Current ratio
1.64▲
2024 · 0.15
Quick ratio
1.64▲
2024 · 0.15
Debt / equity
0.13▼
2024 · 0.46
ROE
0.6%▲
2024 · 0.4%
ROA
0.5%▲
2024 · 0.3%
Debt
€743k▼
2024 · €2.73M
Debt ≤ 1 year
€43k▼
2024 · €712k
Debt > 1 year
€700k▼
2024 · €2.02M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€8.62M€6.67M▼
Fixed assets21/28€8.51M€6.59M▼
Financial fixed assets28€8.51M€6.59M▼
Affiliated companies280/1€8.51M€6.59M▼
Participating interests280€3.72M€3.72M=
Amounts receivable281€4.79M€2.88M▼
Current assets29/58€106k€71k▼
Cash at bank and in hand54/58€106k€71k▼
Equity and liabilities
Total equity and liabilities10/49€8.62M€6.67M▼
Equity10/15€5.89M€5.92M▲
Contributions10/11€6.09M€6.09M=
Capital10€6.09M€6.09M=
Issued capital100€6.09M€6.09M=
Profit (loss) carried forward14€-203k€-167k▲
Amounts payable17/49€2.73M€743k▼
Amounts payable after more than one year17€2.02M€700k▼
Financial debts170/4€2.02M€700k▼
Credit institutions173-€700k
Other loans174€2.02M-
Amounts payable within one year42/48€712k€43k▼
Financial debts43€700k-
Credit institutions430/8€700k-
Trade debts44€12k€43k▲
Suppliers440/4€12k€43k▲
Income statement
Code20242025
Operating charges60/66A€44k€48k▲
Services and other goods61€42k€47k▲
Other operating charges640/8€2k€998▼
Operating profit (loss)9901€-44k€-48k▼
Financial income75/76B€198k€153k▼
Recurring financial income75€198k€153k▼
Income from financial fixed assets750€198k€153k▼
Financial charges65/66B€131k€70k▼
Recurring financial charges65€131k€70k▼
Debt charges650€131k€68k▼
Other financial charges652/9€502€2k▲
Profit (loss) for the period before taxes9903€23k€36k▲
Profit (loss) for the period9904€23k€36k▲
Profit (loss) for the period to be appropriated9905€23k€36k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-203k€-167k▲
Profit (loss) brought forward from the previous period14P€-226k€-203k▲
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity times 11current ratio 1.64
Current ratio from 0.15 to 1.64; short-term debt falls from €712k to €43k.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €37k
Net result €37k after 4 loss-making years.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Liquidity times 137current ratio 23.90
Current ratio from 0.17 to 23.90.
31-12
Financial
Equity above €5MEq €5.83M ▲103%
Equity rises from €2.87M to €5.83M.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
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Directors · office · real estate
Directors
9 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, Brussel · 1 establishment unit since 2018
Ground area
2,791 m²
Building footprint
1,235 m²
Volume, LiDAR
89,309 m³
Parcel 21822R0227/00V003, Brussels · tallest building 106.8 m, ±30 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 480, 1050 Elsene
since 20182.289.422.209
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0227/00V003 | Brussels | 2,791 m² | 1 · 1,235 m² | 106.8 m · 30 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Connections & network
44 connected companiesNetwork connections
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Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-10-2018
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.