THE WALL
ActiveSummary
THE WALL has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €77,385 and a net result of €4,616. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 31% of 2395 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
What they do
Operation of sports facilities
NACE 93110
3 sites
How big
€1.4mtotal assets 2025
- Equity
- €77,385
- Profit
- €4,616
Who decides
Accounts 2 d early0 of 2 deeds read
Why 54- Multiple establishment units- Higher-failure-rate region- Limited track record+ Lower-failure-rate sector+ Annual accounts: healthy financial profile+ Growing equityLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-23
Solvency31▼-10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity short (current ratio 0.32 against 0.39 in 2024; short-term debt: 14.2% and cash: 0.9% of total assets), and 94.4% 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
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
5.6%
Return on assets
0.3%
Age of the figures
15 mo
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 · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €77,385
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
2 d early
2024
2 d early
2023
12 d early
2022
1 d early
2021
3 d early
2020
2 d early
2019
7 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 4 days before 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 (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. Usually files around 29 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · full…
Financials
Fiscal year 2025Total assets €1.4mProfit €4,616Solvency 5.6%Liquidity 0.32
Total assets
€1.4m▲ 207%
2019 - 2025
Net result
€4,616▼ 67.9%
2019 - 2025
Equity
€77,385▲ 6.3%
2019 - 2025
Staff (FTE)
0.3▼ 70.0%
2020 - 2023
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.02m▲ 997%€0.02m▲ 37.2%€0.05m▲ 146%€0.03m▼ 48.3%€0.02m▼ 29.6%
Net result€0.009mwithin the sector's middle half€0.02mwithin the sector's middle half▲ 83.2%€0.05mwithin the sector's middle half▲ 190%€0.01mwithin the sector's middle half▼ 68.4%€0.005mwithin the sector's middle half▼ 67.9%
Equity-€0.003mwithin the sector's middle half▲ 75.2%€0.01mwithin the sector's middle half€0.06mwithin the sector's middle half▲ 354%€0.07mwithin the sector's middle half▲ 24.7%€0.08mwithin the sector's middle half▲ 6.3%
Total assets€0.5mabove the sector's middle half▼ 2.1%€0.5mwithin the sector's middle half▼ 4.4%€0.5mwithin the sector's middle half▲ 3.4%€0.5mabove the sector's middle half▼ 4.0%€1.4mabove the sector's middle half▲ 207%
Debt€0.5m▼ 3.7%€0.4m▼ 7.6%€0.4m▼ 6.7%€0.4m▼ 8.0%€1.3m▲ 245%
Working capital-€0.05mwithin the sector's middle half▼ 32.0%-€0.05mwithin the sector's middle half▼ 2.4%-€0.03mwithin the sector's middle half▲ 40.3%-€0.05mwithin the sector's middle half▼ 56.0%-€0.1mbelow the sector's middle half▼ 183%
Solvency-0.6%within the sector's middle half▲ 1.7pp2.8%within the sector's middle half▲ 3.4pp12.4%within the sector's middle half▲ 9.6pp16.1%within the sector's middle half▲ 3.7pp5.6%within the sector's middle half▼ 10.5pp
Current ratio0.21below the sector's middle half▼ 0.080.21below the sector's middle half=0.56below the sector's middle half▲ 0.350.39within the sector's middle half▼ 0.170.32below the sector's middle half▼ 0.07
Return on assets (ROA)1.8%within the sector's middle half▲ 3.1pp3.4%within the sector's middle half▲ 1.6pp9.7%within the sector's middle half▲ 6.2pp3.2%within the sector's middle half▼ 6.5pp0.3%within the sector's middle half▼ 2.8pp
Staff (FTE)0.3=1below the sector's middle half▲ 233%0.3below the sector's middle half▼ 70.0%
above
within
below
the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, each year against the same schema; no band under 30 filings.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 30% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.3m ▲ 214%
Current assets
€63,223 ▲ 106%
Equity and liabilities €1.4m
Equity
€77,385 ▲ 6.3%
Debt
€1.3m ▲ 245%
Debt's share of the balance-sheet total rises from 83.9% to 94.4%. Equity and debt are higher.
Key figures and ratios
Key figures and ratios
EBITDA
€55,258▲
2024 · €54,873
Cash flow
€40,068▼
2024 · €41,152
Quick ratio
0.32▼
2024 · 0.37
Debt to equity
16.92▲
2024 · 5.22
ROE
6.0%▼
2024 · 19.8%
Interest coverage
3.76▼
2024 · 6.18
Debt ≤ 1 year
€196,574▲
2024 · €77,716
Debt > 1 year
€1.1m▲
2024 · €302,012
Income taxes
€489▼
2024 · €4,845
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,603 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 96% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.9%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.2% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,603 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €16,538 | €2,576 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,310 | €25,280 | €25,572 | €26,758 | €35,453 | ▲ 32.5% |
| Other operating charges640/8 | - | €5,153 | €4,907 | €4,605 | €5,494 | ▲ 19.3% |
| Non-recurring operating charges66A | - | - | - | - | €735 | - |
| Gross operating margin9900 | €57,271 | €69,095 | €87,404 | €59,478 | €61,487 | ▲ 3.4% |
| Operating profit (loss)9901 | €16,122 | €22,124 | €54,350 | €28,115 | €19,806 | ▼ 29.6% |
| Financial income75/76B | - | €1,692 | €10 | - | - | - |
| Recurring financial income75 | €136 | €1,692 | €10 | - | - | - |
| Financial charges65/66B | - | €8,139 | €8,036 | €8,875 | €14,700 | ▲ 65.6% |
| Recurring financial charges65 | €7,700 | €8,139 | €8,036 | €8,875 | €14,700 | ▲ 65.6% |
| Profit (loss) for the period before taxes9903 | €8,558 | €15,677 | €46,324 | €19,239 | €5,105 | ▼ 73.5% |
| Income taxes67/77 | - | - | €800 | €4,845 | €489 | ▼ 89.9% |
| Profit (loss) for the period9904 | €8,558 | €15,677 | €45,524 | €14,395 | €4,616 | ▼ 67.9% |
| Profit (loss) for the period to be appropriated9905 | €8,558 | €15,677 | €45,524 | €14,395 | €4,616 | ▼ 67.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.5m | €0.5m | €0.5m | €0.5m | €1.4m | ▲ 207% |
| Formation expenses20 | €214 | €76 | - | - | - | - |
| Fixed assets21/28 | €0.5m | €0.4m | €0.4m | €0.4m | €1.3m | ▲ 214% |
| Intangible fixed assets21 | - | - | - | - | €0.01m | - |
| Tangible fixed assets22/27 | €0.5m | €0.4m | €0.4m | €0.4m | €1.3m | ▲ 213% |
| Land and buildings22 | - | €0.4m | €0.3m | €0.3m | €0.9m | ▲ 171% |
| Plant, machinery and equipment23 | - | €0.09m | €0.08m | €0.09m | €0.4m | ▲ 382% |
| Furniture and vehicles24 | - | €0.003m | €0.002m | €0.003m | €0.002m | ▼ 41.0% |
| Financial fixed assets28 | €0.002m | €0.002m | €0.002m | €0.002m | - | - |
| Current assets29/58 | €0.01m | €0.01m | €0.04m | €0.03m | €0.06m | ▲ 106% |
| Stocks and contracts in progress3 | €0.001m | €0.001m | €0.001m | €0.002m | €0.001m | ▼ 54.6% |
| Stocks30/36 | - | €0.001m | €0.001m | €0.002m | €0.001m | ▼ 54.6% |
| Amounts receivable within one year40/41 | €0.002m | €0.006m | €0.03m | €0.02m | €0.05m | ▲ 97.7% |
| Trade receivables40 | - | €0.004m | €0.02m | €0.02m | €0.04m | ▲ 133% |
| Other amounts receivable41 | - | €0.003m | €0.008m | €0.007m | €0.008m | ▲ 10.7% |
| Cash at bank and in hand54/58 | €0.008m | €0.005m | €0.007m | €0.002m | €0.01m | ▲ 533% |
| Deferred charges and accrued income490/1 | - | €0.001m | €0.001m | €0.003m | €0.001m | ▼ 56.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.5m | €0.5m | €0.5m | €0.5m | €1.4m | ▲ 207% |
| Equity10/15 | -€0.003m | €0.01m | €0.06m | €0.07m | €0.08m | ▲ 6.3% |
| Contributions10/11 | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | - | - | €0.04m | €0.04m | €0.06m | ▲ 50.0% |
| Distributable reserves133 | - | - | €0.04m | €0.04m | €0.06m | ▲ 50.0% |
| Profit (loss) carried forward14 | -€0.02m | -€0.007m | €375 | €0.01m | €390 | ▼ 97.4% |
| Amounts payable17/49 | €0.5m | €0.4m | €0.4m | €0.4m | €1.3m | ▲ 245% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.3m | €0.3m | €1.1m | ▲ 268% |
| Financial debts170/4 | - | €0.4m | €0.3m | €0.3m | €1.0m | ▲ 252% |
| Other amounts payable178/9 | - | €0.01m | €0.01m | €0.005m | €0.07m | ▲ 1,234% |
| Amounts payable within one year42/48 | €0.06m | €0.06m | €0.07m | €0.08m | €0.2m | ▲ 153% |
| Current portion of amounts payable after more than one year42 | - | €0.03m | €0.03m | €0.04m | €0.06m | ▲ 76.4% |
| Trade debts44 | €0.004m | €0.006m | €0.01m | €0.02m | €0.01m | ▼ 13.2% |
| Suppliers440/4 | - | €0.006m | €0.01m | €0.02m | €0.01m | ▼ 13.2% |
| Advances received on contracts in progress46 | - | €0.001m | €0.003m | €408 | €0.001m | ▲ 154% |
| Taxes, remuneration and social security45 | - | €0.005m | €0.001m | €0.007m | €0.001m | ▼ 88.9% |
| Taxes450/3 | - | - | €0.001m | €0.007m | €0.001m | ▼ 88.9% |
| Remuneration and social security454/9 | - | €0.005m | - | - | - | - |
| Other amounts payable47/48 | - | €0.02m | €0.02m | €0.02m | €0.1m | ▲ 562% |
| Accrued charges and deferred income492/3 | - | €8 | - | €8 | €0.001m | ▲ 13,941% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,558 | €15,677 | €45,524 | €14,395 | €4,616 | ▼ 67.9% |
| + Depreciation and write-downs630 | €25,310 | €25,280 | €25,572 | €26,758 | €35,453 | ▲ 32.5% |
| Operating cash flow (approximation) | €33,868 | €40,957 | €71,095 | €41,152 | €40,068 | ▼ 2.6% |
| Investment in fixed assets (approximation) | - | -€3,905 | -€16,053 | -€16,142 | -€937,449 | ▼ 5,708% |
| Change in cash | - | -€3,008 | €2,306 | -€5,217 | €11,034 | ▲ 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.
Comparable companies
Similar companies · same sector, comparable size
VLG
BE 0429.844.810
Spiere-Helkijn · Eq €77,247
THE HANGAR
BE 0784.913.805
Binche · Eq €77,763
S4U
BE 0506.824.604
Eghezée · Eq €77,810
CENTRE DE LOISIRS DES BAS-PRES
BE 0475.342.362
Namur · Eq €77,888
PADEL BRAKEL
BE 0775.477.683
Brakel · Eq €76,492
Of 3,293 companies in this sector we hold annual accounts for 1,500. 1,055 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
9 eventsLatest 29-01-2026Next filing 31-01-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
Financial
Highest result since 2019net €45,524 ▲190%
Operating result €54,350, net result €45,524, both a record.
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €8,558
Net result €8,558 after 2 loss-making years.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
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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Company details
Private limited company · founded 19-01-2018Year ends 30-06Peppol reachable3 sites
Register details
Identification
Legal formPrivate limited company
Founded19-01-2018
Fiscal year end30-06
Activities, NACEBEL 2025
93110Operation of sports facilities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0688695446
Also
9925:BE0688695446
Registered
02-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Waimes · 3 establishment units since 2018
Ground area
9,335 m²
Building footprint
3,466 m²
Volume, LiDAR
25,304 m³
3 parcels, Wallonia · tallest building 15.6 m, ±5 floors. Linked by address, not a title deed.
3 establishment units
The Wall
since 2018unit no. 2.273.279.528
THE WALL
since 2025unit no. 2.378.830.869
THE WALL
since 2025unit no. 2.378.830.770
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63080M0002/00W012 | Wallonia | 8,463 m² | 1 · 3,405 m² | 9.6 m · 3 fl. |
| 63049A0389/00P002 | Wallonia | 713 m² | - | - |
| 63079D0403/00D006 | Wallonia | 159 m² | 1 · 61 m² | 15.6 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Go further with this company
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