Equity
€216,086 from €428,562 in 2022
Equity fell by 50% in 3 years.
WAGGELWATER ENTERPRISE
Lifetime
20 annual accounts with figures on one time axis, 40 filings since 1986Gross marginpeak €174,373 (2022)
-not published
Resultlowest -€172,638 (2023)
-€8,417▲ €23,005
Equitypeak €428,562 (2022)
€216,086▼ 3.7%
Debts
€1.5m▼ 5.9%
Board4 names since 2019
4 directorsVandenbulcke Kenneth and 3 others
Documentsfilings and deeds
16-07-202615 days before the deadline
2025financial year
Loss of €8,417Cash from €8,996 to €16,872
Key points
from the 2025 annual accountsLosses
-€212,477 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Debts
€1.5m 87% of the balance sheet
Financial debts 46%Suppliers 8%Taxes and wages 2%Other 45%
€819,095 of the debts are secured on the company's own assets. In 2023 that was €1.1m.
Investments
€19,785 0.1 × depreciation
Green is investment, beige is depreciation.
Payment terms
945 days to suppliers
WAGGELWATER ENTERPRISE pays its suppliers 293 days later than in 2024. Customers pay 9 days later.
Filings
40 annual accounts since 1986
Five of the last ten came late. The 2019 accounts came latest: 76 days after the end of the period.
Checked score
88
Excellent
Financially stronger than 38% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,628 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%
01-2025: 0.5%● unchanged vs 12-2024
02-2025: 0.5%● unchanged vs 01-2025
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 0.5%● unchanged vs 04-2025
06-2025: 0.6%▲ +0.1 percentage points vs 05-2025
07-2025: 0.7%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.2%▼ -0.5 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.3%▲ +0.1 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.1 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Equity €216,086 (12.9% of total assets)
lowers risk
Size: turnover €231,220, total assets €1.7m
Figures for financial year 2025 (filed on 16-07-2026)
Founded in 1986
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 34% of them on solvency, 21% on liquidity, 50% on profitability and 48% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,507 companies had the same profile as WAGGELWATER ENTERPRISE has now. Each dot stands for 7 companies, two years later.
96.4%
were still trading
1.8%
stopped another way
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of WAGGELWATER ENTERPRISE itself is lower: 0.2% within 12 months. It rests on far more data about WAGGELWATER ENTERPRISE 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 2,507 companies, not a prediction for WAGGELWATER ENTERPRISE. 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.
Credit verdict
Credit of up to €19,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.05 (0.03 in 2024), below 1. Short-term debt is 47.3% and cash 1% of total assets. 87.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€8,417
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 days early
2024
14 days early
2023
36 days early
2022
3 days early
2021
30 days late
2020
16 days early
2019
76 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0428501953
4 directors appointed, 4 resignations
Resignations: Vandenbulcke Rony, Verbeke Beatrijs, Vandenbulcke Timothy and Vandenbulcke Kenneth · Appointments: Vandenbulcke Rony, Verbeke Beatrijs, Vandenbulcke Timothy and Vandenbulcke Kenneth · Gazette deed
Incorporation
published on 14-02-1986 · Gazette deed
New establishment in Bruges
Lieven Bauwensstraat 2
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| WAGGELWATER ENTERPRISE Bruges | €231,220 | 21.4% | 12.9% | - |
| EUROPEAN INVESTMENT AND MANAGEMENT COMPANY Haaltert | €301,025 | 22.8% | 89.8% | 1 |
| Hulene Maaseik | €178,097 | -24.9% | 32.1% | - |
| ILGAT BUSINESS PARK Hasselt | €445,667 | 37.7% | 20.8% | - |
| S.E.A. Kortrijk | €223,381 | 81.1% | 95.8% | 2.8 |
| SPINNERIJKAAI Wevelgem | €199,041 | 91.7% | 99.2% | - |
| VELDEMAN - INVEST Dendermonde | €90,000 | 85.1% | 11.0% | - |
Grey: the largest companies of the sector (real estate (NACE 68)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as WAGGELWATER ENTERPRISE: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €921,000 and €2.5m, founded between 1989 and 1999.
Official details
Source: KBO- Status
- Active since 30-01-1986Normal situation
- Activity
- Buying and selling of own real estateNACE 68110
- Establishment units
- 2.028.937.7168200 Bruges, since 01-01-1986
- 2.300.875.7318200 Bruges, since 30-01-1986
- Financial year end
- 31 December
- Peppol
- Reachable since 31-03-2025
Annual accounts 2025
- Total assets
- €1.7m▼ 5.7%
- Filing
- Filed on 16-07-2026, 15 days before the end of the filing period
Insights on WAGGELWATER ENTERPRISE
WAGGELWATER ENTERPRISE has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €216,086 and a net result of -€8,417.
Equity has been shrinking by about 2.4% per year since 2018. Its solvency ranks better than 26% of 5,797 sector peers (NACE 68, financial year 2025).
The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about WAGGELWATER ENTERPRISE
- What is the company number of WAGGELWATER ENTERPRISE?
- The company number of WAGGELWATER ENTERPRISE is 0428.501.953. The VAT number is the same number with BE in front: BE 0428.501.953.
- Where is WAGGELWATER ENTERPRISE based?
- The registered office is at Oostendse Steenweg 85, 8000 Bruges.Company details
- What does WAGGELWATER ENTERPRISE do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of WAGGELWATER ENTERPRISE?
- WAGGELWATER ENTERPRISE is a public limited company (NV).
- When was WAGGELWATER ENTERPRISE founded?
- WAGGELWATER ENTERPRISE was founded on 30-01-1986.
- Is WAGGELWATER ENTERPRISE still active?
- Yes, WAGGELWATER ENTERPRISE is an active enterprise in the KBO register.
- What is the turnover of WAGGELWATER ENTERPRISE?
- The turnover of WAGGELWATER ENTERPRISE was €231,220 in financial year 2025, according to the filed annual accounts.Financials
- Is WAGGELWATER ENTERPRISE profitable?
- In financial year 2025, WAGGELWATER ENTERPRISE made a loss of €8,417.
- Where can I find the annual accounts of WAGGELWATER ENTERPRISE?
- WAGGELWATER ENTERPRISE filed 40 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of WAGGELWATER ENTERPRISE due?
- WAGGELWATER ENTERPRISE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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