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Complete company report
Generated 15-07-2026
Active BE 0598.961.637Private limited company (pre-2019)

WAEL CONSTRUCT

Fransmanstraat 44 ·1020 Brussel, Belgium· 11 yrs active
Conclusion Checked

The computed 12-month bankruptcy probability of WAEL CONSTRUCT is 2.3% (moderate). The 2024 annual accounts show equity of €6k and a net result of €30k. Equity is shrinking by ~7.3% per year across the filed fiscal years. The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.
Key figures
Equity €6k
Net result €30k
Active 11 yrs
Publications 1
Snowflake analysis 5 axes · computed by Checked
Health76Profitability100Solvency18Growth58Stability100
70 / 100

Strong profile, led by profitability.

Health 76
Profitability 100
Solvency 18
Growth 58
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
2.3% Moderate
0%0,5%1,5%4%10%≥25%
No NACE activity registered +Higher-failure-rate region +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
Established
Founded in 2015, 11 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2024 · computed
76 / 100 Excellent
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview9 NBB filings
Annual accounts filed on 30-01-2026 with the NBB · fiscal year 2024 · volledig
€-20k€0€20kOperating result 2020: €9k€9kNet result 2020: €-157€-157Operating result 2021: €7k€7kNet result 2021: €6k€6kOperating result 2022: €-4k€-4kNet result 2022: €-6k€-6kOperating result 2023: €-13k€-13kNet result 2023: €-13k€-13kOperating result 2024: €30k€30kNet result 2024: €30k€30k20202021202220232024
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~7.3%/year over 7 fiscal years, indicative, assuming unchanged policy.
€-15k€-10k€-5k€0€5k2025: €4k (€2k - €6k)2026: €3k (€111 - €7k)2027: €3k (€-2k - €7k)2018: €7k2019: €7k2020: €7k2021: €7k2022: €9652023: €-12k2024: €6k2018201920202021202220232024202520262027
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).

EBITDA
€32k
- 18-24
Net profit
€30k
- 18-24
Cash flow
€32k
- 18-24
Total assets
€70k
+25.9% 18-24
Equity
€6k
- 18-24
Working capital
€6k
- 18-24
Income taxes
€2k
-80.8% 18-24
Debt
€64k
-4.8% 18-24
Debt ≤ 1y
€64k
-4.8% 18-24
Current ratio
1.09
+38.1% 18-24
Quick ratio
1.08
+41.7% 18-24
Solvency
8.0%
- 18-24
Debt / equity
11.49
- 18-24
ROE
528.7%
+389.4% 18-24
ROA
42.3%
- 18-24
Interest coverage
502.74
- 18-24
Figures by fiscal year
Fiscal year2024
Revenue-
EBITDA€32k
Net profit€30k
Cash flow€32k
Staff costs-
Income taxes-
Dividends-
Total assets€70k
Equity€6k
Debt€64k
of which ≤ 1y€64k
of which > 1y-
Working capital€6k
Employees (FTE)-
Ratios (computed)
2024
Current ratio1.09
Quick ratio1.08
Working capital ratio8.0%
Solvency8.0%
Debt / equity11.49
Long-term debt ratio-
Interest coverage502.74
Gross margin-
Net margin-
ROA42.3%
ROE528.7%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€70k
Current assets 29/58€70k
Stocks & contracts in progress 3€471
Amounts receivable within one year 40/41€61k
Cash & bank 54/58€8k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€70k
Equity 10/15€6k
Contributions / capital 10/11€6k
Reserves 13€720
Accumulated profits (losses) 14€-1k
Amounts payable 17/49€64k
Amounts payable within one year 42/48€64k
Trade debts payable within one year 44€19k
Income statement
Gross operating margin 9900€32k
Operating result 9901€30k
Financial income 75€7
Financial charges 65€64
Result before taxes 9903€30k
Net result for the period 9904€30k
Result to be appropriated 9905€30k
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Legal Structure
NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation25-02-2015
StatusActive
Postal code1020
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21816C0090/00X003 Brussels 478 m² 1 · 212 m² 13.1 m · 1 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 10 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
30-01-2026
NBB filing Annual accounts filed
fiscal year 2024 · volledig
2025
03-06-2025
State Gazette act Director changes
22-05-2025
NBB filing Annual accounts filed
fiscal year 2023 · volledig
2024
27-07-2024
NBB filing Annual accounts filed
fiscal year 2022 · volledig
2023
04-09-2023
NBB filing Annual accounts filed
fiscal year 2021 · volledig
2022
07-06-2022
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2021
30-04-2021
NBB filing Annual accounts filed
fiscal year 2019 · volledig
2020
18-09-2020
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2019
27-05-2019
NBB filing Annual accounts filed
fiscal year 2017 · volledig
2017
29-12-2017
NBB filing Annual accounts filed
fiscal year 2016 · micro
Belgisch Staatsblad, acts 1 acts
All acts · 1 updated 1 year ago
2025
03-06-2025 3 directors appointed, 1 resigning Director changes
  • Harmoush Wael, Directeur
  • Harmoush Mustafa, Directeur
  • Alhasan Yousif, Directeur
  • Harmoush Mahmoud, Directeur
Technical details 
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  "act_meta": {
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    "pub_date": null,
    "filing_date": "2025-05-26",
    "act_kind_objet": "Objet(s) de l\u0027acte :"
  },
  "decisions": [
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      "body": "algemene_vergadering",
      "date": "2025-05-26",
      "unanimous": true
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  "is_correction": false,
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    "kbo": "0598.961.637",
    "name_full": "WAEL CONSTRU\u0421\u0422",
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  },
  "publication_proxy": {
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  "co_filed_documents": [],
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}
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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameFR WAEL CONSTRUCT
Registered office
Fransmanstraat 44
1020 Brussel, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative