W-ENGINEERING
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 27-10-2026 at the NBB all 12 filings
Turnover
≈ €130,000
Estimated: probably between €100,000 and €180,000
Total assets
€214,701▲ 2.5%
2025 · €209,537
Net result
-€7,998
2025 · €23,110
Working capital
-€35,168
2025 · €12,107
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€59,340
▼ 12.5%
2026
20192026
Net result
-€7,998
2026
20192026
Equity
€8,409
▼ 48.7%
2026
20192026
Total assets
€214,701
▲ 2.5%
2026
20192026
Debt
€206,291
▲ 6.8%
2026
20192026
Working capital
-€35,168
2026
20192026
Solvency
3.9%
▼ 3.9pp
2026
20192026
Current ratio
0.83
▼ 0.23
2026
20192026
Return on assets (ROA)
-3.7%
▼ 14.8pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€2,443-€105,780-€71,966-€64,330▲ 10.6%€74,951€75,535▲ 0.8%€67,815▼ 10.2%€59,340▼ 12.5%
Net result-€4,321-€45,670-€99,850below the sector's middle half-€97,995below the sector's middle half▲ 1.9%€29,596within the sector's middle half€27,462within the sector's middle half▼ 7.2%€23,110within the sector's middle half▼ 15.8%-€7,998
Equity€88,414-€134,083▲ 51.7%€34,234below the sector's middle half▼ 74.5%-€63,761below the sector's middle half-€34,165below the sector's middle half▲ 46.4%-€6,703below the sector's middle half▲ 80.4%€16,407below the sector's middle half€8,409▼ 48.7%
Total assets€112,328-€246,971▲ 120%€145,363below the sector's middle half▼ 41.1%€92,520below the sector's middle half▼ 36.4%€166,138below the sector's middle half▲ 79.6%€212,700below the sector's middle half▲ 28.0%€209,537within the sector's middle half▼ 1.5%€214,701▲ 2.5%
Debt€23,914-€112,888▲ 372%€111,129▼ 1.6%€156,281▲ 40.6%€200,303▲ 28.2%€219,403▲ 9.5%€193,130▼ 12.0%€206,291▲ 6.8%
Working capital€88,136-€134,083▲ 52.1%€33,275within the sector's middle half▼ 75.2%-€64,250below the sector's middle half-€41,529within the sector's middle half▲ 35.4%-€13,847within the sector's middle half▲ 66.7%€12,107within the sector's middle half-€35,168
Solvency78.7%-54.3%▼ 24.4pp23.6%within the sector's middle half▼ 30.7pp-68.9%below the sector's middle half▼ 92.5pp-20.6%below the sector's middle half▲ 48.4pp-3.2%below the sector's middle half▲ 17.4pp7.8%below the sector's middle half▲ 11.0pp3.9%▼ 3.9pp
Current ratio4.69-2.19▼ 2.501.30within the sector's middle half▼ 0.890.59below the sector's middle half▼ 0.710.79within the sector's middle half▲ 0.200.94within the sector's middle half▲ 0.141.06within the sector's middle half▲ 0.130.83▼ 0.23
Return on assets (ROA)-3.8%-18.5%▲ 22.3pp-68.7%below the sector's middle half▼ 87.2pp-105.9%below the sector's middle half▼ 37.2pp17.8%above the sector's middle half▲ 123.7pp12.9%within the sector's middle half▼ 4.9pp11.0%within the sector's middle half▼ 1.9pp-3.7%▼ 14.8pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 12% lower than in 2025. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €214,701
Fixed assets
€43,577 ▲ 913%
Current assets
€171,123 ▼ 16.6%
Equity and liabilities €214,701
Equity
€8,409 ▼ 48.7%
Debt
€206,291 ▲ 6.8%
Debt's share of the balance-sheet total rises from 92.2% to 96.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€62,913▼
2025 · €70,994
Cash flow
-€4,424▼
2025 · €26,289
Debt to equity
24.53▲
2025 · 11.77
ROE
-95.1%▼
2025 · 140.9%
Interest coverage
0.95▼
2025 · 1.62
Debt ≤ 1 year
€206,291▲
2025 · €193,130
Income taxes
€776▼
2025 · €793
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €9,205 | €2,379 | €335 | €42,851 |
| Depreciation and write-downs of the year | €469 | €2,329 | €2,599 | €3,179 | €3,574 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €328 awarded · €328 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €608 | €278 | €450 | €469 | €2,329 | €2,599 | €3,179 | €3,574 | ▲ 12.4% |
| Other operating charges640/8 | - | - | - | €955 | €983 | €1,288 | €1,668 | €1,758 | ▲ 5.4% |
| Gross operating margin9900 | €189 | €107,109 | -€70,358 | -€62,906 | €78,264 | €79,422 | €72,662 | €64,671 | ▼ 11.0% |
| Operating profit (loss)9901 | -€2,443 | €105,780 | -€71,966 | -€64,330 | €74,951 | €75,535 | €67,815 | €59,340 | ▼ 12.5% |
| Financial income75/76B | - | - | - | - | - | €0 | €1 | - | - |
| Recurring financial income75 | - | €787 | - | - | - | €0 | €1 | - | - |
| Financial charges65/66B | - | - | - | €33,188 | €44,880 | €47,522 | €43,914 | €66,562 | ▲ 51.6% |
| Recurring financial charges65 | €1,365 | €40,796 | €27,406 | €33,188 | €44,880 | €47,522 | €43,914 | €66,562 | ▲ 51.6% |
| Profit (loss) for the period before taxes9903 | -€3,809 | €65,772 | -€99,372 | -€97,518 | €30,071 | €28,014 | €23,903 | -€7,222 | - |
| Income taxes67/77 | €512 | €20,102 | €478 | €477 | €475 | €552 | €793 | €776 | ▼ 2.2% |
| Profit (loss) for the period9904 | -€4,321 | €45,670 | -€99,850 | -€97,995 | €29,596 | €27,462 | €23,110 | -€7,998 | - |
| Profit (loss) for the period to be appropriated9905 | -€4,321 | €45,670 | -€99,850 | -€97,995 | €29,596 | €27,462 | €23,110 | -€7,998 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €112,328 | €246,971 | €145,363 | €92,520 | €166,138 | €212,700 | €209,537 | €214,701 | ▲ 2.5% |
| Fixed assets21/28 | €278 | €0 | €958 | €489 | €7,364 | €7,144 | €4,300 | €43,577 | ▲ 913% |
| Tangible fixed assets22/27 | €278 | €0 | €958 | €489 | €7,364 | €7,144 | €4,300 | €43,577 | ▲ 913% |
| Land and buildings22 | - | - | - | - | - | - | - | €42,483 | - |
| Furniture and vehicles24 | - | - | - | €489 | €7,364 | €7,144 | €4,300 | €1,094 | ▼ 74.6% |
| Current assets29/58 | €112,050 | €246,971 | €144,404 | €92,031 | €158,774 | €205,556 | €205,237 | €171,123 | ▼ 16.6% |
| Amounts receivable within one year40/41 | €50,937 | €134,230 | €446 | €11,320 | €15,479 | €33,083 | €33,448 | €55,524 | ▲ 66.0% |
| Trade receivables40 | - | - | - | €10,640 | €15,426 | €32,871 | €33,448 | €47,996 | ▲ 43.5% |
| Other amounts receivable41 | - | - | - | €680 | €53 | €213 | - | €7,528 | - |
| Cash at bank and in hand54/58 | €58,964 | €111,798 | €142,425 | €75,053 | €141,474 | €136,569 | €144,296 | €113,408 | ▼ 21.4% |
| Deferred charges and accrued income490/1 | - | - | - | €5,658 | €1,820 | €35,903 | €27,493 | €2,191 | ▼ 92.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €112,328 | €246,971 | €145,363 | €92,520 | €166,138 | €212,700 | €209,537 | €214,701 | ▲ 2.5% |
| Equity10/15 | €88,414 | €134,083 | €34,234 | -€63,761 | -€34,165 | -€6,703 | €16,407 | €8,409 | ▼ 48.7% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €76,014 | €121,683 | €121,683 | €83,720 | €83,720 | €83,720 | €83,720 | €83,720 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €81,860 | €81,860 | €81,860 | €83,720 | €83,720 | = |
| Profit (loss) carried forward14 | - | - | -€99,850 | -€159,881 | -€130,285 | -€102,823 | -€79,713 | -€87,711 | ▼ 10.0% |
| Amounts payable17/49 | €23,914 | €112,888 | €111,129 | €156,281 | €200,303 | €219,403 | €193,130 | €206,291 | ▲ 6.8% |
| Amounts payable within one year42/48 | €23,914 | €112,888 | €111,129 | €156,281 | €200,303 | €219,403 | €193,130 | €206,291 | ▲ 6.8% |
| Trade debts44 | €15,067 | €36,562 | €6,242 | €4,721 | €2,429 | €8,980 | €2,733 | - | - |
| Suppliers440/4 | - | - | - | €4,721 | €2,429 | €8,980 | €2,733 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €8,674 | €22,709 | €14,662 | €18,160 | €13,886 | ▼ 23.5% |
| Taxes450/3 | - | - | - | €8,674 | €20,039 | €11,992 | €18,160 | €13,886 | ▼ 23.5% |
| Remuneration and social security454/9 | - | - | - | - | €2,670 | €2,670 | - | - | - |
| Other amounts payable47/48 | - | - | - | €142,886 | €175,165 | €195,761 | €172,236 | €192,405 | ▲ 11.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,321 | €45,670 | -€99,850 | -€97,995 | €29,596 | €27,462 | €23,110 | -€7,998 | - |
| + Depreciation and write-downs630 | €608 | €278 | €450 | €469 | €2,329 | €2,599 | €3,179 | €3,574 | ▲ 12.4% |
| Operating cash flow (approximation) | -€3,712 | €45,948 | -€99,400 | -€97,525 | €31,925 | €30,061 | €26,289 | -€4,424 | - |
| Investment in fixed assets (approximation) | - | €0 | -€1,408 | €0 | -€9,205 | -€2,379 | -€335 | -€42,851 | ▼ 12,705% |
| Change in cash | - | €52,834 | €30,627 | -€67,371 | €66,421 | -€4,905 | €7,727 | -€30,888 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,037 companies had the same profile as W-ENGINEERING has now. Two years later, 93.8% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
93.8%
was still going
2.9%
stopped otherwise
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of W-ENGINEERING itself is lower: 0.2% within 12 months. It rests on far more data about W-ENGINEERING than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,037 companies, not a prediction for W-ENGINEERING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 27-10-2026 | 2026-00570567 | |
| 31-03-2025 | abbreviated format | 29-10-2025 | 2025-00552339 | |
| 31-03-2024 | abbreviated format | 24-10-2024 | 2024-00513245 | |
| 31-03-2023 | abbreviated format | 24-10-2023 | 2023-00490925 | |
| 31-03-2022 | abbreviated format | 26-10-2022 | 2022-20472742 | |
| 31-03-2021 | abbreviated format | 10-11-2021 | 2021-77000349 | |
| 31-03-2020 | abbreviated format | 29-09-2020 | 2020-56600309 | |
| 31-03-2019 | abbreviated format | 21-10-2019 | 2019-70900161 | |
| 31-03-2018 | abbreviated format | 31-10-2018 | 2018-71200503 | |
| 31-03-2017 | abbreviated format | 08-11-2017 | 2017-69500168 |