VANWETS
ActiveSummary
VANWETS has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59,663 and a net result of €24,854. Equity remains stable across the filed financial years (±0% per year). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €59,663
- Profit
- €24,854
- Largest shareholder
- BUTTERFLY EFFECT · 50%
- MAD INDUSTRIESDirector · permanent representative MARTIN Dimitri
- ULTIMA RATIODirector · permanent representative VANZEUNE Fabien
Why 88raises riskLiquidity: current ratio 0.87, cash €773, halvedlowers riskSize: total assets €108,879Founded in 1995Figures for financial year 2025 (filed 29-08-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 47% on solvency, 16% on liquidity, 78% on profitability and 24% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 51 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €24,854 ▲48.5%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (26 days) Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00448303.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 45% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 31,368 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,445 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% | 0.9% |
| 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 74.5% 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 31,368 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,475 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,419 | €4,963 | €5,324 | €6,093 | €3,756 | €3,170 | €3,102 | €3,102 | = |
| Other operating charges640/8 | - | - | - | €3,339 | €3,909 | €4,324 | €4,488 | €4,618 | ▲ 2.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €191 | - |
| Gross operating margin9900 | €23,626 | €21,945 | €20,709 | €22,551 | €26,496 | €29,897 | €31,056 | €41,842 | ▲ 34.7% |
| Operating profit (loss)9901 | €8,991 | €13,706 | €12,067 | €13,118 | €18,831 | €22,403 | €23,467 | €33,932 | ▲ 44.6% |
| Financial income75/76B | - | - | - | €10 | €40 | €0 | - | €0 | - |
| Recurring financial income75 | €9 | €9 | €0 | €10 | €40 | €0 | - | €0 | - |
| Financial charges65/66B | - | - | - | €312 | €653 | €586 | €458 | €330 | ▼ 28.1% |
| Recurring financial charges65 | €217 | €229 | €136 | €312 | €653 | €586 | €458 | €330 | ▼ 28.1% |
| Profit (loss) for the period before taxes9903 | €8,784 | €13,487 | €11,931 | €12,816 | €18,218 | €21,817 | €23,009 | €33,602 | ▲ 46.0% |
| Income taxes67/77 | €1,988 | €4,237 | €3,184 | €2,969 | €4,862 | €5,822 | €6,270 | €8,748 | ▲ 39.5% |
| Profit (loss) for the period9904 | €6,796 | €9,250 | €8,747 | €9,847 | €13,356 | €15,995 | €16,739 | €24,854 | ▲ 48.5% |
| Profit (loss) for the period to be appropriated9905 | €6,796 | €9,250 | €8,747 | €9,847 | €13,356 | €15,995 | €16,739 | €24,854 | ▲ 48.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €95,685 | €91,468 | €100,339 | €83,796 | €117,424 | €115,328 | €110,551 | €108,879 | ▼ 1.5% |
| Fixed assets21/28 | €54,768 | €50,148 | €44,823 | €45,488 | €76,271 | €73,101 | €69,999 | €66,898 | ▼ 4.4% |
| Tangible fixed assets22/27 | €54,768 | €50,148 | €44,823 | €45,488 | €76,271 | €73,101 | €69,999 | €66,898 | ▼ 4.4% |
| Land and buildings22 | - | - | - | €44,050 | €76,202 | €73,101 | €69,999 | €66,898 | ▼ 4.4% |
| Plant, machinery and equipment23 | - | - | - | €1,438 | €69 | €0 | - | - | - |
| Current assets29/58 | €40,918 | €41,320 | €55,515 | €38,308 | €41,153 | €42,228 | €40,551 | €41,982 | ▲ 3.5% |
| Amounts receivable within one year40/41 | €5,098 | €10,312 | €9,198 | €11,439 | €8,250 | €19,781 | €17,705 | €40,964 | ▲ 131% |
| Other amounts receivable41 | - | - | - | €11,439 | €8,250 | €19,781 | €17,705 | €40,964 | ▲ 131% |
| Current investments50/53 | - | €10,011 | €10,007 | €10,005 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €27,188 | €12,312 | €27,679 | €8,234 | €6,278 | €7,452 | €7,852 | €773 | ▼ 90.1% |
| Deferred charges and accrued income490/1 | - | - | - | €8,631 | €26,625 | €14,995 | €14,995 | €244 | ▼ 98.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €95,685 | €91,468 | €100,339 | €83,796 | €117,424 | €115,328 | €110,551 | €108,879 | ▼ 1.5% |
| Equity10/15 | €66,809 | €66,809 | €66,809 | €66,809 | €66,809 | €66,809 | €66,809 | €59,663 | ▼ 10.7% |
| Contributions10/11 | €30,987 | €30,987 | - | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Reserves13 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Non-distributable reserves130/1 | - | - | - | €3,099 | €3,099 | €3,099 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €3,099 | €0 | - | - | - | - |
| Other1319 | - | - | - | - | €3,099 | €3,099 | €0 | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €3,099 | €3,099 | = |
| Profit (loss) carried forward14 | €32,724 | €32,724 | €32,724 | €32,724 | €32,724 | €32,724 | €32,724 | €25,578 | ▼ 21.8% |
| Amounts payable17/49 | €28,876 | €24,658 | €33,529 | €16,987 | €50,614 | €48,519 | €43,741 | €49,216 | ▲ 12.5% |
| Amounts payable after more than one year17 | €9,186 | €5,141 | €1,036 | €0 | €21,586 | €14,910 | €8,105 | €1,169 | ▼ 85.6% |
| Financial debts170/4 | - | - | - | €0 | €21,586 | €14,910 | €8,105 | €1,169 | ▼ 85.6% |
| Amounts payable within one year42/48 | €19,690 | €19,517 | €32,494 | €16,987 | €28,123 | €33,609 | €35,636 | €48,047 | ▲ 34.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €987 | €6,550 | €6,676 | €6,805 | €6,936 | ▲ 1.9% |
| Trade debts44 | - | - | €2,970 | €0 | €386 | €254 | €0 | - | - |
| Suppliers440/4 | - | - | - | €0 | €386 | €254 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €6,154 | €7,831 | €10,684 | €12,092 | €9,018 | ▼ 25.4% |
| Taxes450/3 | - | - | - | €6,154 | €7,831 | €10,684 | €12,092 | €9,018 | ▼ 25.4% |
| Other amounts payable47/48 | - | - | - | €9,847 | €13,356 | €15,995 | €16,739 | €32,093 | ▲ 91.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €905 | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,796 | €9,250 | €8,747 | €9,847 | €13,356 | €15,995 | €16,739 | €24,854 | ▲ 48.5% |
| + Depreciation and write-downs630 | €11,419 | €4,963 | €5,324 | €6,093 | €3,756 | €3,170 | €3,102 | €3,102 | = |
| Operating cash flow (approximation) | €18,215 | €14,213 | €14,071 | €15,940 | €17,112 | €19,165 | €19,840 | €27,955 | ▲ 40.9% |
| Investment in fixed assets (approximation) | - | -€344 | €0 | -€6,758 | -€34,539 | €0 | €0 | €0 | - |
| Change in cash | - | -€14,876 | €15,367 | -€19,446 | -€1,956 | €1,174 | €400 | -€7,078 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 26-08-2026 | 2026-00448303 |
| 31-12-2024 | micro format | 14-08-2025 | 2025-00381351 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00457580 |
| 31-12-2022 | full format | 31-10-2023 | 2023-00508630 |
| 31-12-2021 | full format | 23-08-2022 | 2022-20325600 |
| 31-12-2020 | micro format | 18-08-2021 | 2021-50100416 |
| 31-12-2019 | micro format | 29-12-2020 | 2020-77700584 |
| 31-12-2018 | micro format | 31-08-2019 | 2019-58000314 |
| 31-12-2017 | micro format | 27-08-2018 | 2018-49700189 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-54900344 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 2
Permanent representatives 2
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MAD INDUSTRIES |
|
| ULTIMA RATIO |
|
Owners and capital
Owners
2 ownersOwners 2
-
50%
-
50%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 28-12-2023 Converted to unavailable equity
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
28-12
Gazette deed
Resignations: ULTIMA RATIO (manager) and MAD INDUSTRIES (manager)Appointments: ULTIMA RATIO (director) and MAD INDUSTRIES (director) · Permanent representatives: VANZEUNE Fabien and MARTIN Dimitri · Registered office clause12 facts ▸
- Director resignation, ULTIMA RATIO (manager)
- Director appointment, ULTIMA RATIO (director (not named in the articles))
- Permanent representative, VANZEUNE Fabien
- Director resignation, MAD INDUSTRIES (manager)
- Director appointment, MAD INDUSTRIES (director (not named in the articles))
- Permanent representative, MARTIN Dimitri
- Registered office clause, “1200 Woluwe-Saint-Lambert, rue Saint-Lambert”, 111 (deed in French)
- General meeting, 12-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Reserve release, “supprimer le compte de capitaux propres statutairement indisponible, Deuxième résolution” (deed in French)
- Capital
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21674C0116/00F000 | Brussels | 359 m² | 1 · 256 m² | 15.6 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L’achat,la vente,la revente,la location,la transformation,l’aménagement,la rénovation,et la gestion pour compte propre ou compte de tiers,de…” (deed in French)
8 activities (deed in French)
- L’achat,la vente,la revente,la location,la transformation,l’aménagement,la rénovation,et la gestion pour compte propre ou compte de tiers,de tous biens immeubles.
- La mise en valeur de tous biens immobiliers et notamment la création de lotissement et le développement de celui-ci.
- Elle peut en vue de ces opérations,acquérir,créer,louer,donner en location,exploiter et vendre tous immeubles,usines,carrières,magasins,établissements,matériels,moteurs et machines qu’elle jugera nécessaires ou utiles à la réalisation de son objet social,acheter,vendre,mettre en valeur,exploiter ou céder,tous brevets d’inventions,licences,procédés et secrets de fabrication ainsi que toutes marques de fabriques.
- La société pourra s’intéresser directement ou indirectement par voie d’apport,de cession,de fusion,de souscription ou d’achat de titres,d’intervention financière ou de toute autre manière dans toutes affaires,entreprises,associations ou sociétés dont l’objet serait similaire,analogue,connexe ou simplement utile à la réalisation de son objet en Belgique et à l’étranger.
- Elle peut faire toutes opérations de courtage ou de commission ainsi que toutes opérations financières,commerciales,industrielles,mobilières et immobilières se rattachant directement ou indirectement à son objet social ou pouvant contribuer à son développement.
- La société a,également,pour objet la gestion et le management au sens large de toutes sociétés ou entreprises de droit belge ou de droit étranger,commerciales,industrielles,financières,mobilières et immobilières,ainsi que le contrôle de leur gestion ou la participation de celle-ci par la prise de tous mandats au sein desdites sociétés ou entreprises intermédiaires commerciales dans tous secteurs.
- A cet effet elle peut notamment accomplir tous actes généralement quelconques nécessaires ou utiles à la réalisation de l’objet social des sociétés dont elle exerce ou contrôle la gestion,ou à la gestion desquelles elle participe,ainsi que les actes imposés par la loi auxdites sociétés,eu égard à leur objet social.
- Peut prêter à toutes sociétés et/ou personnes physiques et se porter caution pour elles,même hypothécairement.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- VANWETS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 11. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d’administration, 1” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, registre des actions nominatives avec mentions requises par le Code des sociétés et des associations” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Apport en numéraire avec émission de nouvelles actions” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Si aucun autre liquidateur désigné, désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments” (deed in French)