TripleW
ActiveSummary
TripleW has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.8m and a net result of €447,797. Equity is growing by ~45.9% per year across the filed fiscal years. Its solvency ranks better than 46% of 216 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+1
Solvency68▲+39
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500,000 at 30 days acceptable
Liquidity ample (current ratio 3.1 against 1.66 in 2024; short-term debt: 28.5% and cash: 0.4% of total assets), but 57.1% of the assets are financed with debt.
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Signals
Four 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
42.9%
Return on assets
2.5%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
40 d late
2024
29 d early
2023
20 d early
2022
28 d early
2021
18 d early
2020
4 d early
2019
3 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 9 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 company by total assets in the province of Antwerp, Research and development sector#10 company by equity in the province of Antwerp, Research and development sector
Turnover
€58,843
EBIT margin
-71.3%
Net result
€447,797▲ 445%
2024 · €82,222
Working capital
€10.8m▲ 576%
2024 · €1.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 72, Scientific research and development, 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
Turnover
Operating result-€382,482▼ 812%€50,909€75,520▲ 48.3%€90,323▲ 19.6%€472,092▲ 423%
Net result€20,440within the sector's middle half▲ 763%€56,423within the sector's middle half▲ 176%€69,187within the sector's middle half▲ 22.6%€82,222within the sector's middle half▲ 18.8%€447,797above the sector's middle half▲ 445%
EBIT margin
Equity€27,609below the sector's middle half▼ 93.3%€75,266below the sector's middle half▲ 173%€144,453within the sector's middle half▲ 91.9%€226,675within the sector's middle half▲ 56.9%€7.8mabove the sector's middle half▲ 3,325%
Total assets€1.1mwithin the sector's middle half▲ 82.2%€3.0mwithin the sector's middle half▲ 173%€3.0mwithin the sector's middle half▲ 2.4%€5.3mwithin the sector's middle half▲ 76.5%€18.1mabove the sector's middle half▲ 240%
Debt€1.1m▲ 482%€2.9m▲ 173%€2.9m=€5.1m▲ 77.4%€8.0m▲ 56.5%
Working capital-€319,281below the sector's middle half-€438,554below the sector's middle half▼ 37.4%-€509,397below the sector's middle half▼ 16.2%€1.6mwithin the sector's middle half€10.8mabove the sector's middle half▲ 576%
Solvency2.6%below the sector's middle half▼ 66.9pp2.6%below the sector's middle half=4.8%below the sector's middle half▲ 2.2pp4.3%below the sector's middle half▼ 0.5pp42.9%within the sector's middle half▲ 38.6pp
Current ratio0.69below the sector's middle half▼ 2.300.85below the sector's middle half▲ 0.160.82below the sector's middle half▼ 0.031.66within the sector's middle half▲ 0.843.10within the sector's middle half▲ 1.44
Return on assets (ROA)1.9%within the sector's middle half▲ 1.5pp1.9%within the sector's middle half=2.3%within the sector's middle half▲ 0.4pp1.5%within the sector's middle half▼ 0.7pp2.5%within the sector's middle half▲ 0.9pp
Staff (FTE)2.2below the sector's middle half▲ 340%5within the sector's middle half▲ 127%5.2within the sector's middle half▲ 4.0%6.7within the sector's middle half▲ 28.8%13within the sector's middle half▲ 94.0%
above
within
below
the middle half (P25 to P75) of NACE 72, Scientific research and development, 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 has risen four years in a row; 2025 is 423% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.1m
Fixed assets
€2.1m ▲ 61.3%
Current assets
€16.0m ▲ 298%
Equity and liabilities €18.1m
Equity
€7.8m ▲ 3,325%
Provisions
€2.4m
Debt
€8.0m ▲ 56.5%
Debt's share of the balance-sheet total falls from 95.7% to 44.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€664,084▲
2024 · €198,019
Cash flow
€639,789▲
2024 · €189,918
Debt to equity
1.03▼
2024 · 22.51
ROE
5.8%▼
2024 · 36.3%
Interest coverage
29.64▲
2024 · 29.35
Debt ≤ 1 year
€5.2m▲
2024 · €2.4m
Income taxes
€2,527▲
2024 · €1,397
Staff costs
€1.8m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,639 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.4%
went bankrupt
3.6%
stopped otherwise
95%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 1,639 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €206,759 | €687,952 | €784,717 | €1.1m | €1.8m | ▲ 62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,116 | €85,145 | €113,733 | €107,696 | €191,992 | ▲ 78.3% |
| Other operating charges640/8 | €625 | €872 | €2,026 | €439 | €2,485 | ▲ 466% |
| Gross operating margin9900 | -€127,982 | €824,878 | €975,996 | €1.3m | €2.4m | ▲ 88.9% |
| Operating profit (loss)9901 | -€382,482 | €50,909 | €75,520 | €90,323 | €472,092 | ▲ 423% |
| Financial income75/76B | €404,974 | €8,808 | €49 | €43 | €636 | ▲ 1,384% |
| Recurring financial income75 | €404,974 | €8,808 | €49 | €43 | €636 | ▲ 1,384% |
| Financial charges65/66B | €1,640 | €2,222 | €5,151 | €6,748 | €22,404 | ▲ 232% |
| Recurring financial charges65 | €1,640 | €2,222 | €5,151 | €6,748 | €22,404 | ▲ 232% |
| Profit (loss) for the period before taxes9903 | €20,852 | €57,495 | €70,418 | €83,618 | €450,325 | ▲ 439% |
| Income taxes67/77 | €413 | €1,072 | €1,231 | €1,397 | €2,527 | ▲ 80.9% |
| Profit (loss) for the period9904 | €20,440 | €56,423 | €69,187 | €82,222 | €447,797 | ▲ 445% |
| Profit (loss) for the period to be appropriated9905 | €20,440 | €56,423 | €69,187 | €82,222 | €447,797 | ▲ 445% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €3.0m | €3.0m | €5.3m | €18.1m | ▲ 240% |
| Fixed assets21/28 | €368,505 | €536,926 | €696,959 | €1.3m | €2.1m | ▲ 61.3% |
| Tangible fixed assets22/27 | €368,505 | €510,926 | €678,959 | €1.3m | €2.1m | ▲ 61.7% |
| Land and buildings22 | - | - | - | €434,494 | €660,901 | ▲ 52.1% |
| Plant, machinery and equipment23 | €364,414 | €508,414 | €678,026 | €854,904 | €1.4m | ▲ 64.5% |
| Furniture and vehicles24 | €4,091 | €2,512 | €933 | €0 | €18,318 | - |
| Assets under construction and advance payments27 | €0 | - | - | - | - | - |
| Financial fixed assets28 | - | €26,000 | €18,000 | €18,079 | €23,329 | ▲ 29.0% |
| Current assets29/58 | €712,032 | €2.4m | €2.3m | €4.0m | €16.0m | ▲ 298% |
| Amounts receivable after more than one year29 | - | - | - | - | €9.5m | - |
| Other amounts receivable291 | - | - | - | - | €9.5m | - |
| Amounts receivable within one year40/41 | €653,488 | €2.2m | €2.2m | €3.9m | €6.5m | ▲ 65.7% |
| Trade receivables40 | €532,874 | €2.1m | €2.2m | €1.9m | €4.1m | ▲ 118% |
| Other amounts receivable41 | €120,614 | €117,000 | €38,526 | €2.0m | €2.3m | ▲ 15.6% |
| Cash at bank and in hand54/58 | €15,137 | €206,055 | €63,808 | €96,713 | €70,807 | ▼ 26.8% |
| Deferred charges and accrued income490/1 | €43,407 | €11,797 | €25,626 | €30,123 | €26,349 | ▼ 12.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €3.0m | €3.0m | €5.3m | €18.1m | ▲ 240% |
| Equity10/15 | €27,609 | €75,266 | €144,453 | €226,675 | €7.8m | ▲ 3,325% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | €6,443 | €62,866 | €132,053 | €214,275 | €662,072 | ▲ 209% |
| Investment grants15 | €8,766 | €0 | - | - | €7.1m | - |
| Provisions and deferred taxes16 | - | - | - | - | €2.4m | - |
| Deferred taxes168 | - | - | - | - | €2.4m | - |
| Amounts payable17/49 | €1.1m | €2.9m | €2.9m | €5.1m | €8.0m | ▲ 56.5% |
| Amounts payable within one year42/48 | €1.0m | €2.9m | €2.8m | €2.4m | €5.2m | ▲ 113% |
| Financial debts43 | - | - | - | - | €450,000 | - |
| Credit institutions430/8 | - | - | - | - | €450,000 | - |
| Trade debts44 | €97,867 | €357,990 | €135,479 | €87,186 | €744,639 | ▲ 754% |
| Suppliers440/4 | €97,867 | €357,990 | €135,479 | €87,186 | €744,639 | ▲ 754% |
| Advances received on contracts in progress46 | - | - | €8,400 | €0 | - | - |
| Taxes, remuneration and social security45 | €25,316 | €48,397 | €59,973 | €176,850 | €185,567 | ▲ 4.9% |
| Taxes450/3 | €413 | €3,302 | €10,756 | €18,293 | €4,020 | ▼ 78.0% |
| Remuneration and social security454/9 | €24,904 | €45,096 | €49,218 | €158,557 | €181,548 | ▲ 14.5% |
| Other amounts payable47/48 | €908,129 | €2.4m | €2.6m | €2.2m | €3.8m | ▲ 75.4% |
| Accrued charges and deferred income492/3 | €21,615 | €23,106 | €43,109 | €2.7m | €2.8m | ▲ 5.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,440 | €56,423 | €69,187 | €82,222 | €447,797 | ▲ 445% |
| + Depreciation and write-downs630 | €47,116 | €85,145 | €113,733 | €107,696 | €191,992 | ▲ 78.3% |
| Operating cash flow (approximation) | €67,556 | €141,568 | €182,920 | €189,918 | €639,789 | ▲ 237% |
| Investment in fixed assets (approximation) | - | -€253,566 | -€273,766 | -€718,214 | -€993,047 | ▼ 38.3% |
| Change in cash | - | €190,918 | -€142,247 | €32,905 | -€25,907 | ▼ 179% |
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
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 40 days late
2025
31-12
Financial
Highest result since 2019net €447,797 ▲445%
Operating result €472,092, net result €447,797, both a record.
31-12
Financial
Equity above €5mEq €7.8m ▲3,325%
6 profitable years in a row build equity to €7.8m.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 1.66
Current ratio from 0.82 to 1.66; short-term debt falls from €2.8m to €2.4m.
31-12
Financial
Equity above €200,000Eq €226,675 ▲56.9%
5 profitable years in a row build equity to €226,675.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €100,000Eq €144,453 ▲91.9%
4 profitable years in a row build equity to €144,453.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €2,369
Net result €2,369 after one loss-making year.
Show earlier events
31-12
Financial
Liquidity quadruplescurrent ratio 2.99
Current ratio from 0.80 to 2.99.
31-12
Financial
Equity above €200,000Eq €412,132
Equity rises from -€3,965 to €412,132.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
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.
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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, Antwerpen · 1 establishment unit since 2019
Ground area
1,063 m²
Building footprint
291 m²
Parcel 11816C0340/00Z002, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Innovatiestraat 1, 2030 Antwerpen
since 20192.288.653.038
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11816C0340/00Z002 | Flanders | 1,063 m² | 1 · 291 m² | 0.0 m |
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
- TripleW LTDILparentSourceown accounts 2025100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of TripleW 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
2022 to 2025 · 6 entries · 475,686 EUR awarded · 200,886 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 465,526 EUR | 191,000 EUR |
| 2024 | 1 | 1,113 EUR | 5,721 EUR |
| 2023 | 2 | 8,778 EUR | 3,896 EUR |
| 2022 | 1 | 269 EUR | 269 EUR |
European Union, budget
2025 · 1 entry · 2,362,750 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 1 | 2,362,750 EUR |
Projects
FOOD WASTE UPCYCLING FOR TRANSFORMATIVE UTILIZATION IN RENEWABLE ENVIRONMENTAL LACTIC ACID
European research
3 projects · 3,781,982 EUR EU contributionProgrammes
Projects
Circular Initiative for Recycling and waste Conversion into Lactate Extracts
Lactic acid and biosurfactants sourced from sustainable agricultural and industrial (food) WASTE feedstocks as novel FUNCtional ingredients for consumer products
SCALABLE CO2-BASED PRECISION FERMENTATION FOR FUNCTIONAL FOOD INGREDIENTS
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.288.653.038
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Of 762 companies in sector 72101 we hold annual accounts for 484. 168 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
Founded25-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
72101Research and development on biotechnology
E-invoicing
Reachable via Peppol
Peppol ID
0208:0725717772
Also
9925:BE0725717772
Registered
20-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.