From the official registers: KBO 21 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
WALCA has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €7.1m and a net result of €889,817. Equity is shrinking by about 4.2% per year across the filed financial years. Its solvency ranks better than 89% of 11,221 sector peers (NACE 68, financial year 2025). The company has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
In the rankings
#3 company by equity in De Panne, Real estate sector#4 company by total assets in De Panne, Real estate sector
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 30-06-2025
- Filed on
- 30-01-2026
- Format
- abbreviated format
- Reference
- 2026-00032949
Turnover
€1.3m▲ 12.1%
2023 · €1.1m
EBIT margin
32.6%▲ 8.0pp
2023 · 24.6%
Net result
€889,817▼ 19.7%
2024 · €1.1m
Working capital
€2.1m▲ 18.0%
2024 · €1.7m
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 65% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€1.3m
2024
Operating result€0.1m
2025
Net result€0.9m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€8.2m
2025
Equity€7.1m
2025
Debt€1.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€2.1m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin32.6%
2024
Return on assets (ROA)10.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency86.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio6.44
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)2.8
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€1.1m€1.3m▲ 12.1%
Operating result€0.2m-€0.5m▲ 154%€0.4m▼ 15.0%€0.3m▼ 34.5%€0.3m▲ 4.1%€0.4m▲ 48.5%€0.1m▼ 65.0%
Net result€0.06m-€0.4mabove the sector's middle half▲ 498%€0.7mabove the sector's middle half▲ 75.5%€0.4mabove the sector's middle half▼ 45.0%€0.8mabove the sector's middle half▲ 112%€1.1mabove the sector's middle half▲ 42.8%€0.9mabove the sector's middle half▼ 19.7%
EBIT margin24.6%32.6%▲ 8.0pp
Equity€8.1m-€8.5mabove the sector's middle half▲ 4.7%€7.1mabove the sector's middle half▼ 15.8%€7.5mabove the sector's middle half▲ 5.1%€5.1mabove the sector's middle half▼ 31.7%€6.2mabove the sector's middle half▲ 21.6%€7.1mabove the sector's middle half▲ 13.5%
Total assets€9.5m-€10.0mabove the sector's middle half▲ 4.9%€9.4mabove the sector's middle half▼ 6.1%€9.0mabove the sector's middle half▼ 4.3%€8.5mwithin the sector's middle half▼ 5.0%€8.3mwithin the sector's middle half▼ 3.2%€8.2mabove the sector's middle half▼ 1.4%
Debt€1.5m-€1.6m▲ 5.8%€2.3m▲ 46.5%€1.5m▼ 33.9%€3.4m▲ 128%€2.0m▼ 40.4%€1.1m▼ 46.8%
Working capital€2.3m-€4.0mabove the sector's middle half▲ 73.5%€2.7mabove the sector's middle half▼ 33.8%€3.1mabove the sector's middle half▲ 15.1%€0.7mwithin the sector's middle half▼ 77.6%€1.7mabove the sector's middle half▲ 153%€2.1mabove the sector's middle half▲ 18.0%
Solvency84.6%-84.5%above the sector's middle half▼ 0.1pp75.8%above the sector's middle half▼ 8.7pp83.3%above the sector's middle half▲ 7.5pp59.9%within the sector's middle half▼ 23.4pp75.3%above the sector's middle half▲ 15.4pp86.7%above the sector's middle half▲ 11.4pp
Current ratio2.59-15.94above the sector's middle half▲ 13.353.70above the sector's middle half▼ 12.2414.91above the sector's middle half▲ 11.211.32within the sector's middle half▼ 13.593.28above the sector's middle half▲ 1.966.44above the sector's middle half▲ 3.16
Return on assets (ROA)0.7%-3.8%within the sector's middle half▲ 3.1pp7.1%above the sector's middle half▲ 3.3pp4.1%within the sector's middle half▼ 3.0pp9.1%above the sector's middle half▲ 5.0pp13.4%above the sector's middle half▲ 4.3pp10.9%above the sector's middle half▼ 2.5pp
Staff (FTE)4.3-4.3within the sector's middle half=4.4above the sector's middle half▲ 2.3%4.1above the sector's middle half▼ 6.8%3.4within the sector's middle half▼ 17.1%2.8within the sector's middle half▼ 17.6%2.8above the sector's middle half=
above
within
below
the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2023 Net result +112% on 2022. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.2m
Fixed assets
€5.7m ▼ 0.8%
Current assets
€2.4m ▼ 2.9%
Equity and liabilities €8.2m
Equity
€7.1m ▲ 13.5%
Debt
€1.1m ▼ 46.8%
Debt's share of the balance-sheet total falls from 24.7% to 13.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
12.6%▼
2024 · 17.8%
Debt ≤ 1 year
€377,839▼
2024 · €762,873
Debt > 1 year
€709,334▼
2024 · €1.3m
Income taxes
€121,014▲
2024 · €100,101
Staff costs
€289,956▲
2024 · €283,900
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €1.2m | €1.3m | - | - |
| Turnover70 | - | - | - | - | €1.1m | €1.3m | - | - |
| Other operating income74 | - | - | - | - | €0.02m | €0.02m | - | - |
| Non-recurring operating income76A | - | - | - | €0 | €0.008m | €0 | - | - |
| Operating charges60/66A | - | - | - | - | €0.9m | €0.9m | - | - |
| Services and other goods61 | - | - | - | - | €0.6m | €0.6m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.03m | €0.03m | €0.04m | €0.03m | €0.04m | €0.04m | ▲ 16.1% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.002m | €0.002m | ▲ 7.4% |
| Gross operating margin9900 | €0.5m | €0.8m | €0.8m | €0.6m | - | - | €0.5m | - |
| Operating profit (loss)9901 | €0.2m | €0.5m | €0.4m | €0.3m | €0.3m | €0.4m | €0.1m | ▼ 65.0% |
| Financial income75/76B | - | - | - | €0.3m | €0.6m | €0.9m | €0.9m | ▲ 6.5% |
| Recurring financial income75 | €0.05m | €0.1m | €0.4m | €0.3m | €0.6m | €0.9m | €0.9m | ▲ 6.5% |
| Income from financial fixed assets750 | - | - | - | - | €0.6m | €0.8m | - | - |
| Income from current assets751 | - | - | - | - | €0.001m | €0.02m | - | - |
| Other financial income752/9 | - | - | - | - | €0.04m | €0.04m | - | - |
| Financial charges65/66B | - | - | - | €0.08m | €0.08m | €0.08m | €0.06m | ▼ 21.8% |
| Recurring financial charges65 | €0.2m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.06m | ▼ 21.8% |
| Debt charges650 | - | - | - | - | €0.08m | €0.08m | - | - |
| Other financial charges652/9 | - | - | - | - | €332 | €353 | - | - |
| Profit (loss) for the period before taxes9903 | €0.09m | €0.5m | €0.7m | €0.4m | €0.8m | €1.2m | €1.0m | ▼ 16.3% |
| Income taxes67/77 | €0.02m | €0.2m | €0.07m | €0.08m | €0.06m | €0.1m | €0.1m | ▲ 20.9% |
| Taxes670/3 | - | - | - | - | €0.06m | €0.1m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €71 | €0.001m | - | - |
| Profit (loss) for the period9904 | €0.06m | €0.4m | €0.7m | €0.4m | €0.8m | €1.1m | €0.9m | ▼ 19.7% |
| Profit (loss) for the period to be appropriated9905 | €0.06m | €0.4m | €0.7m | €0.4m | €0.8m | €1.1m | €0.9m | ▼ 19.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €9.5m | €10.0m | €9.4m | €9.0m | €8.5m | €8.3m | €8.2m | ▼ 1.4% |
| Fixed assets21/28 | €5.8m | €5.7m | €5.7m | €5.7m | €5.7m | €5.8m | €5.7m | ▼ 0.8% |
| Tangible fixed assets22/27 | €1.1m | €1.0m | €1.1m | €1.0m | €1.1m | €1.1m | €1.1m | ▼ 4.0% |
| Land and buildings22 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.09m | €0.1m | €0.1m | ▼ 30.2% |
| Financial fixed assets28 | €4.7m | €4.7m | €4.6m | €4.6m | €4.6m | €4.6m | €4.6m | = |
| Affiliated companies280/1 | - | - | - | - | €4.6m | €4.6m | - | - |
| Participating interests280 | - | - | - | - | €4.6m | €4.6m | - | - |
| Current assets29/58 | €3.8m | €4.3m | €3.7m | €3.3m | €2.8m | €2.5m | €2.4m | ▼ 2.9% |
| Amounts receivable after more than one year29 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Other amounts receivable291 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Stocks and contracts in progress3 | - | - | - | - | €0 | €0 | - | - |
| Amounts receivable within one year40/41 | €0.5m | €0.5m | €0.6m | €0.6m | €0.2m | €0.3m | €0.4m | ▲ 11.8% |
| Trade receivables40 | - | - | - | €0.5m | €0.1m | €0.3m | €0.3m | = |
| Other amounts receivable41 | - | - | - | €0.07m | €0.07m | €0.07m | €0.1m | ▲ 56.6% |
| Current investments50/53 | €2.2m | €2.2m | €1.7m | €1.6m | €1.6m | €1.1m | €1.0m | ▼ 11.0% |
| Other investments51/53 | - | - | - | - | €1.6m | €1.1m | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.7m | €0.5m | €0.3m | €0.2m | €0.2m | €0.2m | ▲ 5.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €9.5m | €10.0m | €9.4m | €9.0m | €8.5m | €8.3m | €8.2m | ▼ 1.4% |
| Equity10/15 | €8.1m | €8.5m | €7.1m | €7.5m | €5.1m | €6.2m | €7.1m | ▲ 13.5% |
| Contributions10/11 | €4.6m | €0 | - | €3.1m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €3.4m | €3.8m | €4.0m | €4.4m | €3.8m | €4.9m | €5.7m | ▲ 17.2% |
| Tax-exempt reserves132 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Distributable reserves133 | - | - | - | €4.4m | €3.8m | €4.9m | €5.7m | ▲ 17.2% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €1.5m | €1.6m | €2.3m | €1.5m | €3.4m | €2.0m | €1.1m | ▼ 46.8% |
| Amounts payable after more than one year17 | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €0.7m | ▼ 44.6% |
| Other amounts payable178/9 | - | - | - | €1.3m | €1.3m | €1.3m | €0.7m | ▼ 44.6% |
| Amounts payable within one year42/48 | €1.5m | €0.3m | €1.0m | €0.2m | €2.1m | €0.8m | €0.4m | ▼ 50.5% |
| Trade debts44 | €0.02m | €0.02m | €0.01m | €0.008m | €0.009m | €0.01m | €0.008m | ▼ 34.4% |
| Suppliers440/4 | - | - | - | €0.008m | €0.009m | €0.01m | €0.008m | ▼ 34.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 139% |
| Taxes450/3 | - | - | - | €0.08m | €0.08m | €0.08m | €0.2m | ▲ 184% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.03m | €0.06m | €0.1m | ▲ 79.3% |
| Other amounts payable47/48 | - | - | - | €0.08m | €2.0m | €0.6m | €0.05m | ▼ 91.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | €0.4m | €0.7m | €0.4m | €0.8m | €1.1m | €0.9m | ▼ 19.7% |
| + Depreciation and write-downs630 | €0.05m | €0.03m | €0.03m | €0.04m | €0.03m | €0.04m | €0.04m | ▲ 16.1% |
| Operating cash flow (approximation) | €0.1m | €0.4m | €0.7m | €0.4m | €0.8m | €1.1m | €0.9m | ▼ 18.5% |
| Investment in fixed assets (approximation) | - | €0.02m | -€0.06m | €0 | -€0.05m | -€0.09m | €0 | - |
| Change in cash | - | €0.5m | -€0.2m | -€0.2m | -€0.1m | €0.04m | €0.01m | ▼ 74.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00032949 | |
| 30-06-2024 | full format | 31-01-2025 | 2025-00030353 | |
| 30-06-2023 | full format | 31-01-2024 | 2024-00021161 | |
| 30-06-2022 | abbreviated format | 31-01-2023 | 2023-00015127 | |
| 30-06-2021 | abbreviated format | 31-01-2022 | 2022-03400077 | |
| 30-06-2020 | abbreviated format | 29-01-2021 | 2021-04300503 | |
| 30-06-2019 | full format | 31-01-2020 | 2020-03600006 | |
| 30-06-2018 | full format | 31-01-2019 | 2019-04100398 | |
| 30-06-2017 | full format | 30-01-2018 | 2018-03300179 | |
| 30-06-2016 | full format | 13-12-2016 | 2016-70000254 |
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Of the 7,222 active companies whose main activity is buying and selling of own real estate (NACE 68110), figures are known for 5,547. 1,504 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.