W4D
ActiveSummary
W4D has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €156,952 and a net result of €52,391. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 4235 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-2
Solvency37▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity tight (current ratio 1.04 against 0.99 in 2024; short-term debt: 88.1% and cash: 7.1% of total assets), and 88.1% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
11.9%
Return on assets
4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 4235 sector peers (2025).
NBB · sector comparisonPosition among 4235 sector peers
Solvency
better than 22%
← weakest
strongest →
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
1819202122232425
2018 to 2025 · latest year €156,952
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
25 d late
2024
118 d late
2023
48 d late
2022
44 d late
2021
39 d late
2020
65 d late
2019
28 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 44 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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. Usually files around 13 September (4 of the last 5 filed years within 30 days of that day).
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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€52,391▼ 23.2%
2024 · €68,212
Working capital
€46,071
2024 · -€12,355
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Operating result-€194,432▲ 34.3%-€196,478▼ 1.1%€715,219€79,755▼ 88.8%€79,681▼ 0.1%
Net result-€197,177below the sector's middle half▲ 33.8%-€197,860below the sector's middle half▼ 0.3%€716,568above the sector's middle half€68,212within the sector's middle half▼ 90.5%€52,391within the sector's middle half▼ 23.2%
Equity-€517,358below the sector's middle half▼ 61.6%-€715,218below the sector's middle half▼ 38.2%€1,349below the sector's middle half€104,561within the sector's middle half▲ 7,649%€156,952within the sector's middle half▲ 50.1%
Total assets€958,655within the sector's middle half▲ 10.9%€937,275within the sector's middle half▼ 2.2%€838,648within the sector's middle half▼ 10.5%€1.2mwithin the sector's middle half▲ 39.5%€1.3mwithin the sector's middle half▲ 12.8%
Debt€1.5m▲ 24.6%€1.7m▲ 12.0%€837,298▼ 49.3%€1.1m▲ 27.2%€1.2m▲ 9.2%
Working capital-€519,996below the sector's middle half▼ 56.5%-€742,749below the sector's middle half▼ 42.8%-€18,219below the sector's middle half▲ 97.5%-€12,355below the sector's middle half▲ 32.2%€46,071within the sector's middle half
Solvency-54.0%below the sector's middle half▼ 16.9pp-76.3%below the sector's middle half▼ 22.3pp0.2%below the sector's middle half▲ 76.5pp8.9%below the sector's middle half▲ 8.8pp11.9%below the sector's middle half▲ 3.0pp
Current ratio0.64below the sector's middle half▼ 0.070.54below the sector's middle half▼ 0.100.98below the sector's middle half▲ 0.430.99within the sector's middle half▲ 0.011.04within the sector's middle half▲ 0.05
Return on assets (ROA)-20.6%below the sector's middle half▲ 13.9pp-21.1%below the sector's middle half▼ 0.5pp85.4%above the sector's middle half▲ 106.6pp5.8%within the sector's middle half▼ 79.6pp4.0%within the sector's middle half▼ 1.9pp
Staff (FTE)6.6within the sector's middle half▲ 200%5.2within the sector's middle half▼ 21.2%7.8within the sector's middle half▲ 50.0%7.7within the sector's middle half▼ 1.3%8.9within the sector's middle half▲ 15.6%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 0% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€110,881 ▼ 5.2%
Current assets
€1.2m ▲ 14.8%
Equity and liabilities €1.3m
Equity
€156,952 ▲ 50.1%
Debt
€1.2m ▲ 9.2%
Debt's share of the balance-sheet total falls from 91.1% to 88.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€97,216▼
2024 · €112,864
Cash flow
€69,926▼
2024 · €101,321
Quick ratio
1.00▲
2024 · 0.94
Debt to equity
7.41▼
2024 · 10.19
ROE
33.4%▼
2024 · 65.2%
Interest coverage
8.47▼
2024 · 254.75
Debt ≤ 1 year
€1.2m▲
2024 · €1.1m
Income taxes
€21,685▲
2024 · €11,112
Staff costs
€428,397▲
2024 · €362,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,273 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 3,273 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 | €292,885 | €243,714 | €360,158 | €362,000 | €428,397 | ▲ 18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,893 | €20,014 | €23,890 | €33,109 | €17,535 | ▼ 47.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €11,663 | -€756 | - | - | - | - |
| Other operating charges640/8 | €7,696 | €9,581 | €4,994 | €4,082 | €894 | ▼ 78.1% |
| Gross operating margin9900 | €143,705 | €76,076 | €1.1m | €478,946 | €526,507 | ▲ 9.9% |
| Operating profit (loss)9901 | -€194,432 | -€196,478 | €715,219 | €79,755 | €79,681 | ▼ 0.1% |
| Financial income75/76B | €1,499 | €1,117 | €2,446 | €12 | €5,870 | ▲ 49,349% |
| Recurring financial income75 | €1,499 | €1,117 | €2,446 | €12 | €5,870 | ▲ 49,349% |
| Financial charges65/66B | €4,196 | €2,466 | €1,098 | €443 | €11,475 | ▲ 2,490% |
| Recurring financial charges65 | €4,196 | €2,466 | €1,098 | €443 | €11,475 | ▲ 2,490% |
| Profit (loss) for the period before taxes9903 | -€197,129 | -€197,828 | €716,568 | €79,323 | €74,076 | ▼ 6.6% |
| Income taxes67/77 | €48 | €32 | - | €11,112 | €21,685 | ▲ 95.1% |
| Profit (loss) for the period9904 | -€197,177 | -€197,860 | €716,568 | €68,212 | €52,391 | ▼ 23.2% |
| Profit (loss) for the period to be appropriated9905 | -€197,177 | -€197,860 | €716,568 | €68,212 | €52,391 | ▼ 23.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €958,655 | €937,275 | €838,648 | €1.2m | €1.3m | ▲ 12.8% |
| Formation expenses20 | €168 | €0 | - | - | - | - |
| Fixed assets21/28 | €36,928 | €52,805 | €39,568 | €116,916 | €110,881 | ▼ 5.2% |
| Intangible fixed assets21 | - | - | - | €13,937 | €13,052 | ▼ 6.3% |
| Tangible fixed assets22/27 | €36,928 | €52,505 | €38,368 | €97,779 | €92,629 | ▼ 5.3% |
| Plant, machinery and equipment23 | - | - | - | €33,266 | €25,434 | ▼ 23.5% |
| Furniture and vehicles24 | €28,259 | €51,261 | €38,368 | €16,461 | €24,208 | ▲ 47.1% |
| Leasing and similar rights25 | €3,260 | €1,135 | - | - | - | - |
| Other tangible fixed assets26 | €5,409 | €109 | - | €48,052 | €42,987 | ▼ 10.5% |
| Financial fixed assets28 | - | €300 | €1,200 | €5,200 | €5,200 | = |
| Current assets29/58 | €921,560 | €884,470 | €799,079 | €1.1m | €1.2m | ▲ 14.8% |
| Stocks and contracts in progress3 | €106,500 | €72,846 | €97,505 | €48,752 | €48,752 | = |
| Stocks30/36 | - | - | - | €48,752 | €48,752 | = |
| Contracts in progress37 | €106,500 | €72,846 | €97,505 | - | - | - |
| Amounts receivable within one year40/41 | €764,456 | €785,372 | €630,726 | €943,781 | €1.0m | ▲ 10.4% |
| Trade receivables40 | €715,118 | €760,171 | €619,994 | €893,760 | €1.0m | ▲ 13.2% |
| Other amounts receivable41 | €49,338 | €25,201 | €10,732 | €50,021 | €29,856 | ▼ 40.3% |
| Cash at bank and in hand54/58 | €47,591 | €23,851 | €65,122 | €35,393 | €93,393 | ▲ 164% |
| Deferred charges and accrued income490/1 | €3,012 | €2,400 | €5,727 | €24,927 | €24,927 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €958,655 | €937,275 | €838,648 | €1.2m | €1.3m | ▲ 12.8% |
| Equity10/15 | -€517,358 | -€715,218 | €1,349 | €104,561 | €156,952 | ▲ 50.1% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €96,500 | €96,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €96,500 | €96,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €96,500 | €96,500 | = |
| Profit (loss) carried forward14 | -€578,858 | -€776,718 | -€60,151 | €8,061 | €60,452 | ▲ 650% |
| Amounts payable17/49 | €1.5m | €1.7m | €837,298 | €1.1m | €1.2m | ▲ 9.2% |
| Amounts payable after more than one year17 | €34,457 | €25,274 | €20,000 | €0 | - | - |
| Financial debts170/4 | €34,457 | €25,274 | €20,000 | €0 | - | - |
| Amounts payable within one year42/48 | €1.4m | €1.6m | €817,298 | €1.1m | €1.2m | ▲ 9.2% |
| Current portion of amounts payable after more than one year42 | €10,135 | €9,183 | €5,274 | €5,274 | €20,332 | ▲ 286% |
| Trade debts44 | €823,660 | €1.1m | €479,938 | €683,522 | €733,176 | ▲ 7.3% |
| Suppliers440/4 | €823,660 | €1.1m | €479,938 | €683,522 | €733,176 | ▲ 7.3% |
| Advances received on contracts in progress46 | €529,158 | €489,735 | €233,587 | €181,306 | €201,082 | ▲ 10.9% |
| Taxes, remuneration and social security45 | €78,602 | €77,035 | €91,027 | €195,105 | €176,300 | ▼ 9.6% |
| Taxes450/3 | €29,794 | €27,056 | €38,697 | €55,587 | €41,163 | ▼ 25.9% |
| Remuneration and social security454/9 | €48,808 | €49,979 | €52,330 | €139,518 | €135,137 | ▼ 3.1% |
| Other amounts payable47/48 | - | - | €7,472 | - | €31,838 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€197,177 | -€197,860 | €716,568 | €68,212 | €52,391 | ▼ 23.2% |
| + Depreciation and write-downs630 | €25,893 | €20,014 | €23,890 | €33,109 | €17,535 | ▼ 47.0% |
| Operating cash flow (approximation) | -€171,284 | -€177,846 | €740,457 | €101,321 | €69,926 | ▼ 31.0% |
| Investment in fixed assets (approximation) | - | -€35,891 | -€10,653 | -€110,457 | -€11,500 | ▲ 89.6% |
| Change in cash | - | -€23,740 | €41,270 | -€29,729 | €58,000 | ▲ 295% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
2025
31-12
Financial
Equity above €150,000Eq €156,952 ▲50.1%
3 profitable years in a row build equity to €156,952.
26-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 118 days late
2024
31-12
Financial
Equity above €100,000Eq €104,561 ▲7,649%
2 profitable years in a row build equity to €104,561.
17-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 48 days late
2023
31-12
Financial
Back to profitnet €716,568
Net result €716,568 after 3 loss-making years.
13-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 44 days late
2022
08-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 39 days late
2021
04-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 65 days late
2020
31-12
Financial
Weakest financial yearnet -€297,635
Net result drops to -€297,635, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €19,883
Net result €19,883 after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Liège · 1 establishment unit since 2017
Ground area
2,042 m²
Building footprint
1,300 m²
Volume, LiDAR
7,154 m³
Parcel 62806C0064/00F003, Wallonia · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Engels Luik
since 20172.278.459.724
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62806C0064/00F003 | Wallonia | 2,042 m² | 1 · 1,300 m² | 8.1 m · 2 fl. |
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
-
49%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
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Of 380 companies in sector 47529 we hold annual accounts for 271. 232 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
47529Retail trade
47522Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0683654812
Registered
20-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.