WAFFLE FACTORY DEVELOPMENT
ActiveWAFFLE FACTORY DEVELOPMENT has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €771k and a net result of €66k. Equity is growing by ~22.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability70▼-16
Solvency56=
Growth55▼-23
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 1.65 against 1.33 in 2023; short-term debt: 23% and cash: 12.7% of total assets), but 68.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-07-2025, 27 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
27 d early
2023
9 d early
2022
24 d late
2021
26 d late
2020
8 d early
2019
39 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, unclassified schema
Turnover
€2.61M▲ 8.4%
2023 · €2.41M
2023: €2.41M
2023 → 2024
EBIT margin
10.0%▼ 5.7pp
2023 · 15.7%
2023: 15.7%
2023 → 2024
Net result
€66k▼ 73.6%
2023 · €251k
2018: €89k
2019: €41k
2020: €-38k
2021: €54k
2022: €103k
2023: €251k
2018 → 2024
Working capital
€372k▲ 104%
2023 · €183k
2018: €94k
2019: €82k
2020: €-6k
2021: €-98k
2022: €-42k
2023: €183k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€2.41M€2.61M▲ 8.4%
Equity€302k-€356k▲ 17.9%€454k▲ 27.5%€705k▲ 55.3%€771k▲ 9.4%
Operating result€12k-€70k▲ 488%€174k▲ 147%€378k▲ 117%€262k▼ 30.8%
Net result€-38k-€54k€103k▲ 90.4%€251k▲ 144%€66k▼ 73.6%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 31% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.47M
Fixed assets
€1.53M▼ 2.3%
Current assets
€940k▲ 28.2%
Equity and liabilities €2.47M
Equity
€771k▲ 9.4%
Provisions
€450k▲ 2.0%
Debt
€1.25M▲ 8.2%
The debt ratio rises from 50.3% to 50.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€307k▼
2023 · €433k
Cash flow
€111k▼
2023 · €306k
Solvency
31.2%▲
2023 · 30.6%
Current ratio
1.65▲
2023 · 1.33
Quick ratio
1.65▲
2023 · 1.33
Debt / equity
1.62▼
2023 · 1.64
ROE
8.6%▼
2023 · 35.6%
ROA
2.7%▼
2023 · 10.9%
Interest coverage
9.71▼
2023 · 16.08
Debt
€1.25M▲
2023 · €1.16M
Debt ≤ 1 year
€568k▲
2023 · €550k
Debt > 1 year
€198k▼
2023 · €272k
Income taxes
€58k▼
2023 · €108k
Staff costs
€1.25M▲
2023 · €1.09M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€2.30M€2.47M▲
Fixed assets21/28€1.57M€1.53M▼
Intangible fixed assets21€23k€5k▼
Tangible fixed assets22/27€53k€34k▼
Plant, machinery and equipment23€7k€9k▲
Furniture and vehicles24€46k€25k▼
Financial fixed assets28€1.50M€1.50M=
Affiliated companies280/1€1.49M€1.49M=
Participating interests280€1.49M€1.49M=
Other financial fixed assets284/8€879€899▲
Amounts receivable and cash guarantees285/8€879€899▲
Current assets29/58€733k€940k▲
Amounts receivable after more than one year29€194k€181k▼
Trade receivables290€39k€26k▼
Other amounts receivable291€155k€155k=
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€304k€389k▲
Trade receivables40€207k€357k▲
Other amounts receivable41€96k€32k▼
Current investments50/53€22k€22k=
Own shares50€22k€22k=
Cash at bank and in hand54/58€209k€314k▲
Deferred charges and accrued income490/1€4k€33k▲
Equity and liabilities
Total equity and liabilities10/49€2.30M€2.47M▲
Equity10/15€705k€771k▲
Contributions10/11€60k€60k=
Reserves13€645k€711k▲
Non-distributable reserves130/1€28k€28k=
Reserves not available under the articles1311€6k€6k=
Own shares acquired1312€22k€22k=
Tax-exempt reserves132€0-
Distributable reserves133€617k€683k▲
Provisions and deferred taxes16€441k€450k▲
Provisions for liabilities and charges160/5€441k€450k▲
Other liabilities and charges164/5€441k€450k▲
Amounts payable17/49€1.16M€1.25M▲
Amounts payable after more than one year17€272k€198k▼
Financial debts170/4€246k€190k▼
Subordinated loans170€54k€38k▼
Credit institutions173€192k€152k▼
Other loans174€0-
Other amounts payable178/9€26k€8k▼
Amounts payable within one year42/48€550k€568k▲
Current portion of amounts payable after more than one year42€227k€253k▲
Trade debts44€55k€50k▼
Suppliers440/4€55k€50k▼
Taxes, remuneration and social security45€268k€264k▼
Taxes450/3€142k€122k▼
Remuneration and social security454/9€126k€142k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€336k€487k▲
Income statement
Code20232024
Operating income70/76A€2.57M€2.75M▲
Turnover70€2.41M€2.61M▲
Other operating income74€158k€141k▼
Non-recurring operating income76A€0-
Operating charges60/66A€2.19M€2.49M▲
Services and other goods61€976k€1.08M▲
Remuneration, social security and pensions62€1.09M€1.25M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€55k€45k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0€55k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€20k€24k▲
Other operating charges640/8€49k€37k▼
Non-recurring operating charges66A€204€0▼
Operating profit (loss)9901€378k€262k▼
Financial income75/76B€12k€4k▼
Recurring financial income75€12k€4k▼
Income from financial fixed assets750€11k€314▼
Income from current assets751-€2k
Other financial income752/9€1k€2k▲
Financial charges65/66B€31k€142k▲
Recurring financial charges65€31k€37k▲
Debt charges650€27k€32k▲
Other financial charges652/9€4k€5k▲
Non-recurring financial charges66B€0€105k▲
Profit (loss) for the period before taxes9903€359k€124k▼
Income taxes67/77€108k€58k▼
Taxes670/3€108k€67k▼
Tax adjustments and reversals of tax provisions77-€10k
Profit (loss) for the period9904€251k€66k▼
Transfer from tax-exempt reserves789€36k€0▼
Profit (loss) for the period to be appropriated9905€287k€66k▼
Appropriation of the result
Profit (loss) to be appropriated9906€287k€66k▼
Transfer to equity691/2€287k€66k▼
To other reserves6921€287k€66k▼
Profit to be distributed694/7€0-
Directors or managers695€0-
Social balance
Average headcount (FTE)908716.717.1▲
The notes to these accounts (82 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Highest result since 2018net €251k ▲144%
Operating result €378k, net result €251k, both a record.
31-12
Financial
Equity above €500kEq €705k ▲55.3%
3 profitable years in a row build equity to €705k.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-12
Financial
Back to profitnet €54k
Net result €54k after one loss-making year.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €-38k ▼194%
Net result drops to €-38k, the lowest in the series; recovery starts the following year.
08-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 39 days late
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
21-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2022
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
30-03-2022
DESOBRY Stéphane: Resigned as Director
30-03-2022
Guillaume Desobry: Resigned as Managing director
23-03-2022
DESOBRY Stéphane: Resigned as Managing director
23-03-2022
Guillaume Desobry: Resigned as Director
Location & real-estate footprint
Registered office, Tournai · 1 establishment unit since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Digitales 27522 TournaiGround area
1,250 m²
Building footprint
927 m²
Volume, LiDAR
4,980 m³
Parcel 57050A0166/00R003, Wallonia · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue des Digitales 2, 7522 Tournai
since 20132.220.738.685
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57050A0166/00R003 | Wallonia | 1,250 m² | 1 · 927 m² | 6.2 m · 2 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Legal Entity Identifier
699400EJ2QXTXHDSOJ60
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Of 82,569 companies in sector 70200 we hold annual accounts for 52,573. 30,613 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-04-2013
Fiscal year end31-12
Abbreviation FR
W.F.D
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
77400Rental and leasing activities
68110Buying and selling of own real estate
73200Market research and public opinion polling
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.