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Complete company report
Generated 04-09-2026
Active BE 0473.568.648Public limited company

WABEL

Avenue d'Ecolys(RH) 2 ·5020 Namur, Belgium· 25 yrs active
Sector: Renting and operating of own or leased non-residential real estate, excluding land (68203)
Conclusion Checked

WABEL has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.03M and a net result of €27k. Equity is growing by ~47.6% per year across the filed fiscal years. Its solvency ranks better than 79% of 208 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Based on the State Gazette, CBE and 3 annual accounts.
Key figures
Equity €4.03M
Net result €27k
Better than sector 79%
Active 25 yrs
Financial profile 5 of 5 axes measured · computed by Checked
Health78Profitability3Solvency100Growth78Stability100
72 / 100

Strong profile, led by solvency.

All 5 axes are computed from data Checked has read.

Health 78
Profitability 3
Solvency 100
Growth 78
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
0.1% Very low
0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 2 signals
Long-established
Founded in 2000, 25 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags0 events
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score FY 2025 · computed
78 / 100 Excellent
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€310k
estimate, not credit advice
Score history
49 2023
93 2024
78 2025
purely financial, excl. current insolvency signals
Score components
Liquidity Current ratio 42.63 (≥ 1.5) +10
Quick ratio Quick ratio 42.63 (≥ 1.0) +5
Leverage Debt/equity 0.03 (< 1.0) +10
Profitability ROE 1% +3
Profit trend Net profit down YoY -3
Equity growth Equity growing YoY +3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview24 NBB filings
Annual accounts filed on 30-08-2026 with the NBB · fiscal year 2025 · full schema
€-2.00M€0€2.00M€4.00M€6.00MOperating result 2023: €38k€38kNet result 2023: €16k€16kOperating result 2024: €5.04M€5.04MNet result 2024: €3.78M€3.78MOperating result 2025: €-12k€-12kNet result 2025: €27k€27k202320242025
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~47.6%/year over 3 fiscal years, indicative, assuming unchanged policy.
€0€2.50M€5.00M€7.50M€10.00M2026: €5.93M (€5.61M - €6.25M)2027: €7.84M (€7.51M - €8.16M)2028: €9.74M (€9.42M - €10.06M)2023: €218k2024: €4.00M2025: €4.03M202320242025202620272028
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (full schema)
Metric This company Sector median Position in the sector
Solvency 74.5% 32.2%
better than 79% of 208 sector peers
Net result €27k €8k
better than 58% of 207 sector peers
Equity €4.03M €503k
better than 75% of 208 sector peers
Gross operating margin €-11k €78k
better than 10% of 146 sector peers
Total assets €5.40M €2.42M
better than 65% of 208 sector peers
EBITDA
€123k
- 23-25
Net profit
€27k
-99.3% 23-25
Cash flow
€101k
- 23-25
Total assets
€5.40M
-0.6% 23-25
Equity
€4.03M
+0.7% 23-25
Working capital
€5.28M
+0.5% 23-25
Income taxes
€10k
-6.3% 23-25
Debt
€127k
-32.8% 23-25
Debt ≤ 1y
€127k
-32.8% 23-25
Debt > 1y
€12k
- 23-25
Current ratio
42.63
+48.0% 23-25
Quick ratio
42.63
+48.0% 23-25
Solvency
74.5%
+1.3% 23-25
Debt / equity
0.03
-33.3% 23-25
ROE
0.7%
-99.3% 23-25
ROA
0.5%
-99.3% 23-25
Interest coverage
7.60
- 23-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
Fiscal year2025 Δ2024 Δ2023 Δ
Depositfull schemafull schemafull schema
Revenue---
EBITDA---
Net profit-99.3%+23946.9%-
Cash flow---
Staff costs---
Income taxes-6.3%+82.7%-
Dividends---
Total assets-0.6%+991.4%-
Equity+0.7%+1736.5%-
Debt-32.8%-32.7%-
of which ≤ 1y-32.8%-23.8%-
of which > 1y---
Working capital+0.5%--
Employees (FTE)---
Ratios (computed)
202520242023
Current ratio42.6328.810.01
Quick ratio42.6328.810.01
Working capital ratio97.7%96.5%-49.1%
Solvency74.5%73.5%43.7%
Debt / equity0.030.051.29
Long-term debt ratio--0.06
Interest coverage--7.60
Gross margin---
Net margin---
ROA0.5%69.5%3.2%
ROE0.7%94.6%7.2%
EBITDA margin---
Days sales outstanding---
Days payable outstanding---
Inventory turnover---
Days inventory (DSI)---
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code202520242023
Balance sheet, Assets
TOTAL ASSETS 20/58€5.40M€5.44M€498k
Fixed assets 21/28--€495k
Tangible fixed assets 22/27--€495k
Current assets 29/58€5.40M€5.44M€3k
Amounts receivable within one year 40/41€3k€23k€2k
Cash & bank 54/58€171€392€1k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€5.40M€5.44M€498k
Equity 10/15€4.03M€4.00M€218k
Contributions / capital 10/11€62k€62k€62k
Reserves 13€3.76M€3.76M€6k
Accumulated profits (losses) 14€205k€178k€150k
Provisions & deferred taxes 16€1.25M€1.25M-
Amounts payable 17/49€127k€189k€281k
Amounts payable after one year 17--€12k
Amounts payable within one year 42/48€127k€189k€248k
Trade debts payable within one year 44€605€13k€19k
Income statement
Gross operating margin 9900€-11k€5.06M€165k
Operating result 9901€-12k€5.04M€38k
Financial income 75€54k€17k€4
Financial charges 65€5k€10k€16k
Result before taxes 9903€37k€5.04M€21k
Income taxes 67/77€10k€11k€6k
Net result for the period 9904€27k€3.78M€16k
Result to be appropriated 9905€27k€28k€16k
Directors & mandates 8 directors
Current directors & mandates
  • Benoit
    Managing director
    State Gazette act 23330342 (04-04-2023)
    Current
    04-04-2023 → present
  • Charles-Edmond
    Managing director
    State Gazette act 23330342 (04-04-2023)
    Current
    04-04-2023 → present
  • Paul de SAUVAGE VERCOUR
    Managing director
    State Gazette act 23330342 (04-04-2023)
    Current
    04-04-2023 → present
  • Paul de Sauvage
    Managing director
    State Gazette act 22115260 (28-09-2022)
    Current
    28-09-2022 → present
  • Benoît de Sauvage
    Director
    State Gazette act 22115260 (28-09-2022)
    Current
    19-08-2022 → present
  • Charles-Edmond de Sauvage
    Director
    State Gazette act 22115260 (28-09-2022)
    Current
    19-08-2022 → present
Show 1 more sitting directors
  • Paul deSauvage
    Director
    State Gazette act 22115260 (28-09-2022)
    Current
    19-08-2022 → present
Former directors (1)
  • Sacofi s.a.Legal entity
    Managing director
    State Gazette act 22115260 (28-09-2022)
    Former
    - → 28-09-2022
Legal Structure
NACE primary Renting and operating of own or leased non-residential real estate, excluding land(68203)
Legal form Public limited company(014)
Incorporation20-12-2000
StatusActive
Postal code5020
Establishment units 1 location
Avenue d'Ecolys(RH) 2, 5020 Namur
NACE 65231
since 20012.097.890.264
Real-estate footprint Source: CBE × cadastre
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
92120F0142/00A000 Wallonia 3.4 ha 1 · 6,467 m² -
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 12 events
Next filing, fiscal year 2026, expected by 31-07-2027
2026
30-08
NBB filing Annual accounts filed
fiscal year 2025 · full schema · 30 days late
2025
26-08
NBB filing Annual accounts filed
fiscal year 2024 · full schema · 26 days late
2024
31-12
Financial Highest result since 2023net €3.78M ▲23947%
Operating result €5.04M, net result €3.78M, both a record.
31-12
Financial Liquidity times 2136current ratio 28.81
Current ratio from 0.01 to 28.81; short-term debt falls from €248k to €189k.
31-12
Financial Equity above €2MEq €4.00M ▲1737%
2 profitable years in a row build equity to €4.00M.
30-08
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
04-04
State Gazette act Director changes
Louis JADOUL
2022
28-10
NBB filing Annual accounts filed
fiscal year 2022 · full schema
28-09
State Gazette act Director changes
2021
29-10
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2020
22-10
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2019
20-09
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2018
28-08
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2017
21-08
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2016
30-09
NBB filing Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage 0 of 4 acts read

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 2 acts
All acts · 2 updated 3 years ago
2023
04-04-2023 3 directors appointed Director changes·Louis JADOUL
  • Paul de SAUVAGE VERCOUR, Gedelegeerd bestuurder
  • Benoit, Gedelegeerd bestuurder
  • Charles-Edmond, Gedelegeerd bestuurder
Notary: Louis JADOUL · NamurFirm: Louis JADOUL et Thibaut de PAUL de BARCHIFONTAINE
Technical details 
{
  "events": [
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      "kind": "director_in",
      "role": "administrateur_d\u00E9l\u00E9gu\u00E9",
      "person": {
        "rrn": null,
        "name": "Paul de SAUVAGE VERCOUR",
        "address": "5190 Moustier, Place de Moustier 3",
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      },
      "reason": null,
      "subkind": "renewal",
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      "statutory": "statutair",
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      "decharge_status": null,
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        "kind": "until_agm_year",
        "value": "2029"
      },
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    },
    {
      "kind": "director_in",
      "role": "administrateur_d\u00E9l\u00E9gu\u00E9",
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        "rrn": null,
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        "value": "2029"
      },
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      "rep_rotation_old_rep": null,
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    },
    {
      "kind": "director_in",
      "role": "administrateur_d\u00E9l\u00E9gu\u00E9",
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        "rrn": null,
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      "reason": null,
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      "decharge_status": null,
      "mandate_duration": {
        "kind": "until_agm_year",
        "value": "2029"
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "decharge_granted",
      "role": "administrateur_d\u00E9l\u00E9gu\u00E9",
      "person": {
        "rrn": null,
        "name": "Paul de SAUVAGE VERCOUR",
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      },
      "reason": null,
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      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "",
      "decharge_status": "granted",
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": "Louis JADOUL",
    "firm_city": null,
    "firm_name": "Louis JADOUL et Thibaut de PAUL de BARCHIFONTAINE",
    "office_city": "Namur",
    "is_associated": true
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-04-04",
    "filing_date": "2023-03-31",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decisions": [
    {
      "body": "buitengewone_algemene_vergadering",
      "date": "2023-03-29",
      "unanimous": true
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0473.568.648",
    "name_full": "WABEL",
    "legal_form": "SA"
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
2022
28-09-2022 4 directors appointed, 1 resigning Director changes
  • Benoît de Sauvage, Bestuurder
  • Paul deSauvage, Bestuurder
  • Charles-Edmond de Sauvage, Bestuurder
  • Paul de Sauvage, Gedelegeerd bestuurder
  • Sacofi s.a., Gedelegeerd bestuurder
Technical details 
{
  "events": [
    {
      "kind": "director_out",
      "role": "administrateur_d\u00E9l\u00E9gu\u00E9",
      "person": null,
      "reason": "de_plein_droit_dissolution",
      "subkind": null,
      "via_org": {
        "kbo": null,
        "name": "Sacofi s.a.",
        "address": null,
        "country": null,
        "legal_form": null
      },
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale acte la d\u00E9mission \u00E0 ce jour des administrateurs Sacofi s.a., AAV srl et Ets Auguste Defoux srl ainsi que de l\u0027administrateur d\u00E9l\u00E9gu\u00E9 Sacofi s.a.",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "administrateur",
      "person": {
        "rrn": null,
        "name": "Beno\u00EEt de Sauvage",
        "address": "rue Damseaux, 6 \u00E0 5030 Gembloux",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2022-08-19",
      "evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale nomme \u00E0 l\u0027unanimit\u00E9 pour une dur\u00E9e de six ans \u00E0 dater du 19/08/2022 les administrateurs suivants qui acceptent:",
      "decharge_status": null,
      "mandate_duration": {
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      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "director_in",
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        "name": "Paul deSauvage",
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      },
      "reason": null,
      "subkind": null,
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      "compensated": null,
      "effective_date": "2022-08-19",
      "evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale nomme \u00E0 l\u0027unanimit\u00E9 pour une dur\u00E9e de six ans \u00E0 dater du 19/08/2022 les administrateurs suivants qui acceptent:",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": "6"
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "director_in",
      "role": "administrateur",
      "person": {
        "rrn": null,
        "name": "Charles-Edmond de Sauvage",
        "address": "Place de Moustier, 3 \u00E0 5190 Moustier-Sur-Sambre",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2022-08-19",
      "evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale nomme \u00E0 l\u0027unanimit\u00E9 pour une dur\u00E9e de six ans \u00E0 dater du 19/08/2022 les administrateurs suivants qui acceptent:",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": "6"
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "director_in",
      "role": "administrateur_d\u00E9l\u00E9gu\u00E9",
      "person": {
        "rrn": null,
        "name": "Paul de Sauvage",
        "address": null,
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        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Le conseil d\u0027administration s\u0027est r\u00E9uni et a nomm\u00E9 Paul de Sauvage, pr\u00E9cit\u00E9, comme administrateur d\u00E9l\u00E9gu\u00E9.",
      "decharge_status": null,
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      "rep_rotation_new_rep": null,
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  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Li\u00E8ge",
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2022-09-28",
    "filing_date": "2022-09-19",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2022-08-19",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0473.568.648",
    "name_full": "WABEL",
    "legal_form": "Soci\u00E9t\u00E9 anonyme"
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
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  "co_filed_documents": [],
  "corrected_publication_numac": null
}
Credit advice verdict per customer and amount
Company registry (CBE) Crossroads Bank
Activities
Renting and operating of own or leased non-residential real estate, excluding land6820370203
Names & trade names
Legal nameFR WABEL
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative