WAL'EOL
ActiveSummary
WAL'EOL has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €189,370. Equity is growing by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 47% of 279 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+43
Solvency55▲+3
Growth60=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity short (current ratio 0.55 against 1.68 in 2024; short-term debt: 66.9% and cash: 16.8% of total assets), and 69.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer 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
30.4%
Return on assets
3.9%
Age of the figures
9 mo
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 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 · 10 filingsDeviation from the deadline
2025
3 d late
2024
340 d late
2023
29 d late
2022
31 d late
2021
92 d late
2020
59 d early
2019
58 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 54 days after the deadline; the sector median for financial year 2024 is 23 days before the deadline, and 27% 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 31 August (4 of the last 5 filed years within 61 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?ELECTRICITE DE FRANCE · 66 companies How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.4m▲ 6.3%
2019 · €1.3m
EBIT margin
46.6%▼ 6.5pp
2019 · 53.1%
Net result
€189,370
2024 · -€357,103
Working capital
-€1.5m
2024 · €647,226
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, 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
Turnover
Operating result€600,891▼ 8.3%€518,179▼ 13.8%€177,582▼ 65.7%-€5,598€278,494
Net result€420,182within the sector's middle half▼ 9.8%€369,506within the sector's middle half▼ 12.1%€123,817within the sector's middle half▼ 66.5%-€357,103below the sector's middle half€189,370above the sector's middle half
EBIT margin
Equity€1.3mwithin the sector's middle half▲ 4.4%€1.6mwithin the sector's middle half▲ 22.9%€1.7mwithin the sector's middle half▲ 3.7%€1.3mwithin the sector's middle half▼ 22.7%€1.5mwithin the sector's middle half▲ 12.3%
Total assets€5.6mwithin the sector's middle half▼ 3.0%€5.9mwithin the sector's middle half▲ 5.2%€5.3mwithin the sector's middle half▼ 10.3%€4.9mwithin the sector's middle half▼ 8.0%€4.9mwithin the sector's middle half=
Debt€4.2m▼ 5.4%€4.2m▼ 0.7%€3.5m▼ 16.2%€3.5m▼ 1.3%€3.3m▼ 5.2%
Working capital-€111,637within the sector's middle half▲ 34.2%€200,901within the sector's middle half€275,269within the sector's middle half▲ 37.0%€647,226within the sector's middle half▲ 135%-€1.5mbelow the sector's middle half
Solvency23.9%within the sector's middle half▲ 1.7pp27.9%within the sector's middle half▲ 4.0pp32.2%within the sector's middle half▲ 4.3pp27.1%within the sector's middle half▼ 5.1pp30.4%within the sector's middle half▲ 3.3pp
Current ratio0.91within the sector's middle half▲ 0.081.13within the sector's middle half▲ 0.221.21within the sector's middle half▲ 0.081.68within the sector's middle half▲ 0.470.55below the sector's middle half▼ 1.13
Return on assets (ROA)7.5%above the sector's middle half▼ 0.6pp6.3%within the sector's middle half▼ 1.2pp2.3%within the sector's middle half▼ 3.9pp-7.4%below the sector's middle half▼ 9.7pp3.9%within the sector's middle half▲ 11.3pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €278,494 after a loss of €5,598 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.9m
Fixed assets
€3.1m ▼ 5.6%
Current assets
€1.8m ▲ 11.3%
Equity and liabilities €4.9m
Equity
€1.5m ▲ 12.3%
Provisions
€101,371 ▲ 23.7%
Debt
€3.3m ▼ 5.2%
Debt's share of the balance-sheet total falls from 71.2% to 67.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€460,857▲
2024 · €176,764
Cash flow
€371,733▲
2024 · -€174,740
Debt to equity
2.22▼
2024 · 2.63
ROE
12.8%▲
2024 · -27.1%
Interest coverage
4.83▲
2024 · 1.43
Debt ≤ 1 year
€3.2m▲
2024 · €957,132
Debt > 1 year
€0▼
2024 · €2.5m
Income taxes
€24,378▼
2024 · €263,086
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,045 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 6,045 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €418,752 | €418,572 | €415,601 | €182,363 | €182,363 | = |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €10,667 | €10,667 | €10,667 | €7,301 | €19,404 | ▲ 166% |
| Other operating charges640/8 | €25,000 | €32,461 | €26,827 | €70,059 | €39,694 | ▼ 43.3% |
| Gross operating margin9900 | €1.1m | €979,878 | €630,677 | €254,124 | €519,955 | ▲ 105% |
| Operating profit (loss)9901 | €600,891 | €518,179 | €177,582 | -€5,598 | €278,494 | ▲ 5,075% |
| Financial income75/76B | €68,112 | €67,912 | €71,471 | €34,939 | €30,746 | ▼ 12.0% |
| Recurring financial income75 | €68,112 | €67,912 | €71,471 | €34,939 | €30,746 | ▼ 12.0% |
| Financial charges65/66B | €125,194 | €111,305 | €103,555 | €123,358 | €95,492 | ▼ 22.6% |
| Recurring financial charges65 | €125,194 | €111,305 | €103,555 | €123,358 | €95,492 | ▼ 22.6% |
| Profit (loss) for the period before taxes9903 | €543,809 | €474,786 | €145,498 | -€94,017 | €213,748 | ▲ 327% |
| Income taxes67/77 | €123,628 | €105,281 | €21,681 | €263,086 | €24,378 | ▼ 90.7% |
| Profit (loss) for the period9904 | €420,182 | €369,506 | €123,817 | -€357,103 | €189,370 | ▲ 153% |
| Profit (loss) for the period to be appropriated9905 | €420,182 | €369,506 | €123,817 | -€357,103 | €189,370 | ▲ 153% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.6m | €5.9m | €5.3m | €4.9m | €4.9m | = |
| Fixed assets21/28 | €4.5m | €4.1m | €3.7m | €3.2m | €3.1m | ▼ 5.6% |
| Intangible fixed assets21 | €301,288 | €263,159 | €228,001 | €214,590 | €201,178 | ▼ 6.3% |
| Tangible fixed assets22/27 | €3.8m | €3.4m | €3.0m | €2.9m | €2.7m | ▼ 5.9% |
| Land and buildings22 | €5,618 | €5,107 | €4,596 | €4,354 | €4,112 | ▼ 5.6% |
| Plant, machinery and equipment23 | €3.8m | €3.4m | €3.0m | €2.9m | €2.7m | ▼ 5.9% |
| Financial fixed assets28 | €400,090 | €400,090 | €400,090 | €160,352 | €162,140 | ▲ 1.1% |
| Current assets29/58 | €1.1m | €1.8m | €1.6m | €1.6m | €1.8m | ▲ 11.3% |
| Amounts receivable after more than one year29 | - | €402,103 | €410,105 | €0 | - | - |
| Other amounts receivable291 | - | €402,103 | €410,105 | €0 | - | - |
| Amounts receivable within one year40/41 | €911,059 | €637,572 | €450,417 | €527,601 | €825,474 | ▲ 56.5% |
| Trade receivables40 | €508,665 | €388,295 | €203,011 | €111,400 | €807,478 | ▲ 625% |
| Other amounts receivable41 | €402,393 | €249,277 | €247,406 | €416,202 | €17,996 | ▼ 95.7% |
| Cash at bank and in hand54/58 | €105,461 | €636,653 | €613,535 | €921,830 | €815,986 | ▼ 11.5% |
| Deferred charges and accrued income490/1 | €69,441 | €117,399 | €131,449 | €154,927 | €144,351 | ▼ 6.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.6m | €5.9m | €5.3m | €4.9m | €4.9m | = |
| Equity10/15 | €1.3m | €1.6m | €1.7m | €1.3m | €1.5m | ▲ 12.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €0 | - | - | - | - |
| Distributable reserves133 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €679,611 | €1.0m | €1.2m | €815,831 | €1.0m | ▲ 23.2% |
| Investment grants15 | €634,294 | €570,865 | €507,435 | €479,245 | €451,054 | ▼ 5.9% |
| Provisions and deferred taxes16 | €53,333 | €64,000 | €74,666 | €81,967 | €101,371 | ▲ 23.7% |
| Provisions for liabilities and charges160/5 | €53,333 | €64,000 | €74,666 | €81,967 | €101,371 | ▲ 23.7% |
| Major repairs and maintenance162 | €53,333 | €64,000 | €74,666 | €0 | - | - |
| Environmental obligations163 | - | - | - | €81,967 | €101,371 | ▲ 23.7% |
| Amounts payable17/49 | €4.2m | €4.2m | €3.5m | €3.5m | €3.3m | ▼ 5.2% |
| Amounts payable after more than one year17 | €3.0m | €2.6m | €2.1m | €2.5m | €0 | ▼ 100% |
| Financial debts170/4 | €3.0m | €2.6m | €2.1m | €2.5m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €1.2m | €1.6m | €1.3m | €957,132 | €3.2m | ▲ 239% |
| Current portion of amounts payable after more than one year42 | €519,841 | €522,328 | €433,273 | €0 | €2.6m | - |
| Financial debts43 | €10,125 | €8,882 | €7,576 | €0 | - | - |
| Credit institutions430/8 | €10,125 | €8,882 | €7,576 | €0 | - | - |
| Trade debts44 | €73,889 | €163,708 | €324,025 | €897,122 | €651,936 | ▼ 27.3% |
| Suppliers440/4 | €73,889 | €163,708 | €324,025 | €897,122 | €651,936 | ▼ 27.3% |
| Advances received on contracts in progress46 | - | €514,701 | €514,701 | €0 | - | - |
| Taxes, remuneration and social security45 | €293,587 | €141,697 | €50,652 | €14,325 | €23,612 | ▲ 64.8% |
| Taxes450/3 | €293,587 | €141,697 | €50,652 | €14,325 | €23,612 | ▲ 64.8% |
| Other amounts payable47/48 | €300,156 | €241,511 | €10 | €45,685 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €7,885 | €28,871 | €17,660 | €25,998 | ▲ 47.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €420,182 | €369,506 | €123,817 | -€357,103 | €189,370 | ▲ 153% |
| + Depreciation and write-downs630 | €418,752 | €418,572 | €415,601 | €182,363 | €182,363 | = |
| Operating cash flow (approximation) | €838,933 | €788,077 | €539,418 | -€174,740 | €371,733 | ▲ 313% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €239,738 | -€1,789 | ▼ 101% |
| Change in cash | - | €531,192 | -€23,118 | €308,295 | -€105,844 | ▼ 134% |
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
19-08
State Gazette act
Resignation: Lieselot De Meyere (sole director)Appointment: Damien Léonard (sole director)3 facts ▸
State Gazette act
Resignation: Lieselot De Meyere (sole director)
Appointment: Damien Léonard (sole director)3 facts ▸
- General meeting, 03-07-2026
- Director resignation, Lieselot De Meyere (sole director)
- Director appointment, Damien Léonard (sole director)
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 3 days late
06-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 340 days late
2025
31-12
Financial
Back to profitnet €189,370
Net result €189,370 after one loss-making year.
2024
31-12
Financial
Weakest financial yearnet -€357,103
Net result drops to -€357,103, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 92 days late
2021
02-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €624,947 ▲61.3%
Operating result €702,883, net result €624,947, both a record.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2025
Damien Léonard
CurrentSole director · since 02-05-2025
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Liège · 2 establishment units since 2014
Ground area
7,951 m²
Building footprint
2,664 m²
Volume, LiDAR
20,131 m³
2 parcels, Wallonia · tallest building 12.1 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
2 establishment units
Wal'Eol
since 20142.226.431.003
Wal'Eol 5-6
since 20172.271.162.750
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25109C0143/00B000 | Wallonia | 4,913 m² | 1 · 347 m² | 11.6 m · 2 fl. |
| 62047C1395/00C009 | Wallonia | 3,038 m² | 1 · 2,317 m² | 12.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2025, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Damien Léonard |
|
| Lieselot De Meyere |
|
Structure & network
Part of the group
ELECTRICITE DE FRANCE
66 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- EDF BELGIUM
- Luminus
- WAL'EOL
Highest known parent: EDF BELGIUM. The sources do not say who stands above it.
Owners 2
- LuminusparentSourceaccounts Luminus 2025100%
- Alternative Greenparent98%
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
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Similar companies · same sector, comparable size
EolSPI
BE 0798.649.203
Liège · Eq €1,485,606
RUIEN ENERGY STORAGE
BE 0697.934.596
Avelgem · Eq €1,465,976
MG SQUARE
BE 0780.428.247
Tervuren · Eq €1,540,554
AMENT METAALBEWERKING
BE 0440.873.413
Kinrooi · Eq €1,398,980
Eren Energy Storage Benelux
BE 1019.920.653
Evere · Eq €1,668,757
Of 149 companies in sector 35120 we hold annual accounts for 80. 47 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-01-2014
Fiscal year end31-12
Activities, NACEBEL 2025
35120Electricity, gas, steam and air conditioning supply
35150Electricity, gas, steam and air conditioning supply
Contact
E-mail
info@vents-houyet.beBeauraing
Phone
082/68 96 76Beauraing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0544883939
Also
9925:BE0544883939
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.