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Walden

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Non-profit associationfounded 1993active for 33 yearsKrijkelberg 1, 3360 Bierbeek, BelgiumKBO/BCE: BE 0451.242.218
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Financials · financial year 2025, full format

Annual accounts 2025 filed on 08-07-2026 at the NBB all 20 filings

Turnover
€2.4m▲ 7.0%
2024 · €2.3m
EBIT margin
11.1%▲ 5.1pp
2024 · 6.0%
Net result
€293,654▲ 85.8%
2024 · €158,074
Working capital
€2.0m▲ 19.9%
2024 · €1.7m
In the rankings #3 company by total assets in Bierbeek, Health and social work sector#3 company by equity in Bierbeek, Health and social work sector#4 employer in Bierbeek
Multi-year overview
2018 to 2025, 8 financial years
Turnover
€2.4m
▲ 7.0% 2025
20182025
Operating result
€271,847
▲ 98.9% 2025
20182025
Net result
€293,654
▲ 85.8% 2025
highest quarter of the sector
20182025
EBIT margin
11.1%
▲ 5.1pp 2025
20182025
Equity
€3.2m
▲ 10.1% 2025
highest quarter of the sector
20182025
Total assets
€5.2m
▲ 8.4% 2025
highest quarter of the sector
20182025
Debt
€2.0m
▲ 6.2% 2025
20182025
Working capital
€2.0m
▲ 19.9% 2025
highest quarter of the sector
20182025
Solvency
60.9%
▲ 0.9pp 2025
middle half of the sector
20182025
Current ratio
2.57
▲ 0.12 2025
middle half of the sector
20182025
Return on assets (ROA)
5.7%
▲ 2.4pp 2025
middle half of the sector
20182025
Staff (FTE)
52.2
▲ 4.8% 2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€1.1m-€1.5m▲ 31.4%€1.7m▲ 12.5%€1.6m▼ 3.1%€2.3m▲ 39.8%€2.5m▲ 10.2%€2.3m▼ 8.4%€2.4m▲ 7.0%
Operating result€0.1m-€0.1m▼ 7.9%€0.08m▼ 29.1%€0.004m▼ 95.5%€0.2m▲ 63×€0.5m▲ 139%€0.1m▼ 74.8%€0.3m▲ 98.9%
Net result€0.1m-€0.1m▲ 12.1%€0.07mwithin the sector's middle half▼ 39.3%€0.01mbelow the sector's middle half▼ 82.5%€0.2mwithin the sector's middle half▲ 16×€0.5mabove the sector's middle half▲ 159%€0.2mwithin the sector's middle half▼ 71.0%€0.3mabove the sector's middle half▲ 85.8%
EBIT margin10.7%-7.5%▼ 3.2pp4.7%▼ 2.8pp0.2%▼ 4.5pp10.0%▲ 9.8pp21.7%▲ 11.7pp6.0%▼ 15.7pp11.1%▲ 5.1pp
Equity€1.3m-€1.4m▲ 9.5%€1.6mabove the sector's middle half▲ 9.6%€1.6mabove the sector's middle half▲ 0.8%€2.1mabove the sector's middle half▲ 36.1%€2.7mabove the sector's middle half▲ 25.4%€2.9mabove the sector's middle half▲ 6.4%€3.2mabove the sector's middle half▲ 10.1%
Total assets€2.0m-€2.9m▲ 44.9%€3.2mabove the sector's middle half▲ 9.3%€3.1mabove the sector's middle half▼ 2.2%€4.2mabove the sector's middle half▲ 33.7%€4.7mabove the sector's middle half▲ 12.6%€4.8mabove the sector's middle half▲ 2.0%€5.2mabove the sector's middle half▲ 8.4%
Debt€0.7m-€1.5m▲ 107%€1.6m▲ 10.3%€1.5m▼ 5.2%€2.0m▲ 31.5%€2.0m▼ 1.0%€1.9m▼ 4.0%€2.0m▲ 6.2%
Working capital€0.2m-€0.7m▲ 330%€0.5mwithin the sector's middle half▼ 25.7%€0.6mwithin the sector's middle half▲ 2.6%€1.0mabove the sector's middle half▲ 72.2%€1.5mabove the sector's middle half▲ 53.5%€1.7mabove the sector's middle half▲ 12.5%€2.0mabove the sector's middle half▲ 19.9%
Solvency64.9%-49.1%▼ 15.9pp49.2%within the sector's middle half▲ 0.1pp50.7%within the sector's middle half▲ 1.5pp51.6%within the sector's middle half▲ 0.9pp57.5%within the sector's middle half▲ 5.8pp59.9%within the sector's middle half▲ 2.5pp60.9%within the sector's middle half▲ 0.9pp
Current ratio1.25-2.34▲ 1.091.74within the sector's middle half▼ 0.601.79within the sector's middle half▲ 0.051.89within the sector's middle half▲ 0.102.25within the sector's middle half▲ 0.372.45within the sector's middle half▲ 0.202.57within the sector's middle half▲ 0.12
Return on assets (ROA)5.4%-4.2%▼ 1.2pp2.3%below the sector's middle half▼ 1.8pp0.4%below the sector's middle half▼ 1.9pp5.1%within the sector's middle half▲ 4.6pp11.6%within the sector's middle half▲ 6.6pp3.3%below the sector's middle half▼ 8.3pp5.7%within the sector's middle half▲ 2.4pp
Staff (FTE)28.9-31.8▲ 10.0%34.4above the sector's middle half▲ 8.2%34.9above the sector's middle half▲ 1.5%38.8above the sector's middle half▲ 11.2%44.6above the sector's middle half▲ 14.9%49.8above the sector's middle half▲ 11.7%52.2above the sector's middle half▲ 4.8%
above within below The sector band is the middle half of the companies in Human health activities (NACE 86). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2025 is 99% higher than in 2024. It is a recovery after the fall in 2024.

Large changes and their cause
  • 2025 Net result +86% on 2024. 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 €5.2m
Fixed assets €1.9m ▼ 2.7%
Current assets €3.3m ▲ 16.2%
Equity and liabilities €5.2m
Equity €3.2m ▲ 10.1%
Provisions €7,428 ▼ 45.5%
Debt €2.0m ▲ 6.2%
Debt's share of the balance-sheet total falls from 39.8% to 39.0%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€383,513▲
2024 · €243,238
Cash flow
€405,320▲
2024 · €264,643
Debt to equity
0.64▼
2024 · 0.66
ROE
9.3%▲
2024 · 5.5%
Interest coverage
25.87▲
2024 · 17.41
Debt ≤ 1 year
€1.3m▲
2024 · €1.1m
Debt > 1 year
€620,933▼
2024 · €695,000
Income taxes
€0
Customer credit
72 days▲
2024 · 52 days
Supplier credit
180 days▲
2024 · 175 days
Staff costs
€3.8m▲
2024 · €3.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date64656670
full-time13192525
part-time51464145
in full-time equivalents43.647.35254.8
Average over the year, in full-time equivalents38.844.649.852.2
On a permanent contract49485661
Joined33201321
Left18191117
Training hours924857213809

Source: social balance sheet in the 2022 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20212022202320242025
Debts secured on the company's own assets----€0
Debts guaranteed by Belgian public bodies---€0€0

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€30,340€698,584€20,062€38,299€52,602
Intangible fixed assets--€3,266€14,495€2,243
Financial fixed assets€5,602€3,529€6,962€1,682€5,586
Depreciation and write-downs of the year€92,043€111,415€110,423€106,569€111,666

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2022 to 2025 · 33 entries · €2.9m awarded · €2.9m paid
Year Entries AwardedPaid
2025 6 €2.5m€2.5m
2024 8 €0.1m€0.1m
2023 10 €0.1m€0.1m
2022 9 €0.2m€0.1m
Schemes
2 entries · €1.6m · €1.6m paid · AGENTSCHAP VLAAMSE SOCIALE BESCHERMING
3 entries · €879,648 · €879,648 paid · AGENTSCHAP VLAAMSE SOCIALE BESCHERMING
4 entries · €166,268 · €166,268 paid · Departement Zorg
3 entries · €47,074 · €47,074 paid · Departement Zorg
3 entries · €41,783 · €29,248 paid · Agentschap Zorg en Gezondheid
Show 11 more
1 entry · €32,124 · €32,124 paid · Agentschap Zorg en Gezondheid
1 entry · €26,012 · €26,012 paid · Agentschap Zorg en Gezondheid
1 entry · €24,212 · €24,212 paid · Agentschap Zorg en Gezondheid
3 entries · €20,125 · €20,125 paid · Departement Werk en Sociale Economie
3 entries · €11,141 · €11,141 paid · Departement Werk en Sociale Economie
2 entries · €10,727 · €10,727 paid · Departement Werk en Sociale Economie
2 entries · €9,315 · €9,315 paid · Vlaams Infrastructuurfonds voor Persoonsgebonden Aangelegenheden
1 entry · €9,165 · €9,165 paid · Vlaams Infrastructuurfonds voor Persoonsgebonden Aangelegenheden
1 entry · €8,932 · €8,932 paid · Vlaams Infrastructuurfonds voor Persoonsgebonden Aangelegenheden
2 entries · €218 · €219 paid · Departement Werk en Sociale Economie
1 entry · €12,535 paid · Agentschap Zorg en Gezondheid
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 86 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.8m€5.2m▲
Formation expenses20€0€0=
Fixed assets21/28€2.0m€1.9m▼
Intangible fixed assets21€0.02m€0.01m▼
Tangible fixed assets22/27€1.9m€1.9m▼
Land and buildings22€1.9m€1.8m▼
Furniture and vehicles24€0.06m€0.06m=
Assets under construction and advance payments27€0€0.003m▲
Financial fixed assets28€0.04m€0.05m▲
Current assets29/58€2.8m€3.3m▲
Amounts receivable after more than one year29€0€0=
Trade receivables290€0€0=
Other amounts receivable291€0€0=
Stocks and contracts in progress3€0.002m€0▼
Stocks30/36€0.002m-
Contracts in progress37€0-
Amounts receivable within one year40/41€2.3m€2.7m▲
Trade receivables40€0.3m€0.5m▲
Other amounts receivable41€2.0m€2.2m▲
Current investments50/53€0.4m€0.5m▲
Cash at bank and in hand54/58€0.02m€0.04m▲
Deferred charges and accrued income490/1€0.04m€0.06m▲
Equity and liabilities
Total equity and liabilities10/49€4.8m€5.2m▲
Equity10/15€2.9m€3.2m▲
Contributions10/11€0.1m€0.1m=
Capital10€0.1m€0.1m=
Revaluation surpluses12€0€0=
Reserves13€1.7m€2.4m▲
Profit (loss) carried forward14€0.9m€0.6m▼
Investment grants15€0.1m€0.09m▼
Provisions and deferred taxes16€0.01m€0.007m▼
Provisions for liabilities and charges160/5€0.01m€0.007m▼
Pensions and similar obligations160€0€0=
Taxes161€0€0=
Major repairs and maintenance162€0.01m€0.007m▼
Environmental obligations163€0€0=
Other liabilities and charges164/5€0€0=
Deferred taxes168€0€0=
Amounts payable17/49€1.9m€2.0m▲
Amounts payable after more than one year17€0.7m€0.6m▼
Financial debts170/4€0.7m€0.6m▼
Trade debts175€0€0=
Advances received on contracts in progress176€0€0=
Other amounts payable178/9€0€0=
Amounts payable within one year42/48€1.1m€1.3m▲
Current portion of amounts payable after more than one year42€0.07m€0.07m▲
Financial debts43€0€0=
Credit institutions430/8€0€0=
Other loans439€0€0=
Trade debts44€0.4m€0.5m▲
Suppliers440/4€0.4m€0.5m▲
Bills of exchange payable441€0€0=
Advances received on contracts in progress46€0€0=
Taxes, remuneration and social security45€0.7m€0.7m▲
Taxes450/3€0.09m€0.09m▼
Remuneration and social security454/9€0.6m€0.6m▲
Accrued charges and deferred income492/3€0.06m€0.1m▲
Income statement Code20242025
Turnover70€2.3m€2.4m▲
Membership fees, donations, legacies and grants73€0€0=
Non-recurring operating income76A€0.003m€0.01m▲
Goods, raw materials, services and sundry goods60/61€0.8m€0.9m▲
Remuneration, social security and pensions62€3.5m€3.8m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.1m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.007m€0.01m▲
Other operating charges640/8€0.2m€0.1m▼
Non-recurring operating charges66A€0.04m€0.03m▼
Gross operating margin9900€4.0m€4.4m▲
Operating profit (loss)9901€0.1m€0.3m▲
Financial income75/76B€0.04m€0.04m▲
Recurring financial income75€0.04m€0.04m▲
Non-recurring financial income76B€0€0=
Financial charges65/66B€0.01m€0.01m▲
Recurring financial charges65€0.01m€0.01m▲
Non-recurring financial charges66B-€0
Profit (loss) for the period before taxes9903€0.2m€0.3m▲
Transfer from deferred taxes780-€0
Transfer to deferred taxes680-€0
Income taxes67/77-€0
Profit (loss) for the period9904€0.2m€0.3m▲
Transfer from tax-exempt reserves789-€0
Transfer to tax-exempt reserves689-€0
Profit (loss) for the period to be appropriated9905€0.2m€0.3m▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.0m€1.2m▲
Profit (loss) brought forward from the previous period14P€0.9m€0.9m▲
Addition to contributions691€0.1m€0.7m▲
Social balance sheet
Average headcount (FTE)908749.852.2▲

The notes to these accounts have 56 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.

Line20182019202020212022202320242025Change
Turnover70€1.1m€1.5m€1.7m€1.6m€2.3m€2.5m€2.3m€2.4m▲ 7.0%
Membership fees, donations, legacies and grants73-----€0€0€0-
Non-recurring operating income76A---€0.01m€0.1m€0.07m€0.003m€0.01m▲ 325%
Goods, raw materials, services and sundry goods60/61---€0.5m€0.7m€0.8m€0.8m€0.9m▲ 11.0%
Remuneration, social security and pensions62---€2.3m€3.0m€3.3m€3.5m€3.8m▲ 8.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.05m€0.05m€0.05m€0.09m€0.1m€0.1m€0.1m€0.1m▲ 4.8%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0.003m-€0.007m€0.007m€0.01m▲ 39.9%
Other operating charges640/8---€0.1m€0.2m€0.2m€0.2m€0.1m▼ 29.3%
Non-recurring operating charges66A---€0.01m€0.01m€0.004m€0.04m€0.03m▼ 19.6%
Gross operating margin9900€1.9m€2.2m€2.3m€2.5m€3.5m€4.1m€4.0m€4.4m▲ 9.5%
Operating profit (loss)9901€0.1m€0.1m€0.08m€0.004m€0.2m€0.5m€0.1m€0.3m▲ 98.9%
Financial income75/76B---€0.02m€0.008m€0.01m€0.04m€0.04m▲ 3.5%
Recurring financial income75€0.003m€0.005m€0.008m€0.02m€0.008m€0.01m€0.04m€0.04m▲ 3.5%
Non-recurring financial income76B-----€0€0€0-
Financial charges65/66B---€0.01m€0.02m€0.007m€0.01m€0.01m▲ 6.1%
Recurring financial charges65€0.004m€0.001m€0.01m€0.01m€0.02m€0.007m€0.01m€0.01m▲ 6.1%
Non-recurring financial charges66B-------€0-
Profit (loss) for the period before taxes9903€0.1m€0.1m€0.07m€0.01m€0.2m€0.5m€0.2m€0.3m▲ 85.8%
Transfer from deferred taxes780-------€0-
Transfer to deferred taxes680-------€0-
Income taxes67/77-------€0-
Profit (loss) for the period9904€0.1m€0.1m€0.07m€0.01m€0.2m€0.5m€0.2m€0.3m▲ 85.8%
Transfer from tax-exempt reserves789-------€0-
Transfer to tax-exempt reserves689-------€0-
Profit (loss) for the period to be appropriated9905€0.1m€0.1m€0.07m€0.01m€0.2m€0.5m€0.2m€0.3m▲ 85.8%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€2.0m€2.9m€3.2m€3.1m€4.2m€4.7m€4.8m€5.2m▲ 8.4%
Formation expenses20-----€0€0€0-
Fixed assets21/28€1.2m€1.6m€1.9m€1.8m€2.1m€2.0m€2.0m€1.9m▼ 2.7%
Intangible fixed assets21€0.002m€0.002m€0.001m--€0.003m€0.02m€0.01m▼ 27.2%
Tangible fixed assets22/27€1.1m€1.6m€1.9m€1.8m€2.1m€2.0m€1.9m€1.9m▼ 2.7%
Land and buildings22---€1.8m€2.0m€1.9m€1.9m€1.8m▼ 3.0%
Furniture and vehicles24---€0.06m€0.07m€0.06m€0.06m€0.06m=
Assets under construction and advance payments27-----€0.003m€0€0.003m-
Financial fixed assets28€0.02m€0.03m€0.03m€0.03m€0.03m€0.04m€0.04m€0.05m▲ 9.1%
Current assets29/58€0.8m€1.3m€1.3m€1.3m€2.0m€2.7m€2.8m€3.3m▲ 16.2%
Amounts receivable after more than one year29-----€0€0€0-
Trade receivables290-----€0€0€0-
Other amounts receivable291-----€0€0€0-
Stocks and contracts in progress3€0.001m€0.001m€0.001m€0.001m€0.003m€0.002m€0.002m€0▼ 100%
Stocks30/36---€0.001m€0.003m€0.002m€0.002m--
Contracts in progress37-----€0€0--
Amounts receivable within one year40/41€0.8m€0.8m€0.7m€1.0m€1.5m€2.3m€2.3m€2.7m▲ 15.4%
Trade receivables40---€0.6m€1.0m€1.2m€0.3m€0.5m▲ 49.1%
Other amounts receivable41---€0.4m€0.6m€1.1m€2.0m€2.2m▲ 9.9%
Current investments50/53€0.02m€0.3m€0.4m€0.2m€0.4m€0.3m€0.4m€0.5m▲ 14.0%
Cash at bank and in hand54/58€0.006m€0.06m€0.08m€0.04m€0.1m€0.02m€0.02m€0.04m▲ 108%
Deferred charges and accrued income490/1---€0.04m€0.03m€0.06m€0.04m€0.06m▲ 51.6%
Equity and liabilities
Total equity and liabilities10/49€2.0m€2.9m€3.2m€3.1m€4.2m€4.7m€4.8m€5.2m▲ 8.4%
Equity10/15€1.3m€1.4m€1.6m€1.6m€2.1m€2.7m€2.9m€3.2m▲ 10.1%
Contributions10/11---€0.06m-€0.1m€0.1m€0.1m=
Capital10---€0.06m-€0.1m€0.1m€0.1m=
Revaluation surpluses12-----€0€0€0-
Reserves13---€1.2m€1.2m€1.6m€1.7m€2.4m▲ 38.3%
Profit (loss) carried forward14€0.1m€0.2m€0.3m€0.3m€0.8m€0.9m€0.9m€0.6m▼ 39.3%
Investment grants15---€0.07m€0.08m€0.08m€0.1m€0.09m▼ 4.7%
Provisions and deferred taxes16€0.003m€0.03m€0.01m€0.01m€0.01m€0.01m€0.01m€0.007m▼ 45.5%
Provisions for liabilities and charges160/5---€0.01m€0.01m€0.01m€0.01m€0.007m▼ 45.5%
Pensions and similar obligations160-----€0€0€0-
Taxes161-----€0€0€0-
Major repairs and maintenance162---€0.01m€0.01m€0.01m€0.01m€0.007m▼ 45.5%
Environmental obligations163-----€0€0€0-
Other liabilities and charges164/5-----€0€0€0-
Deferred taxes168-----€0€0€0-
Amounts payable17/49€0.7m€1.5m€1.6m€1.5m€2.0m€2.0m€1.9m€2.0m▲ 6.2%
Amounts payable after more than one year17-€0.9m€0.8m€0.8m€0.8m€0.8m€0.7m€0.6m▼ 10.7%
Financial debts170/4---€0.8m€0.8m€0.8m€0.7m€0.6m▼ 10.7%
Trade debts175-----€0€0€0-
Advances received on contracts in progress176-----€0€0€0-
Other amounts payable178/9-----€0€0€0-
Amounts payable within one year42/48€0.7m€0.5m€0.7m€0.7m€1.1m€1.2m€1.1m€1.3m▲ 10.8%
Current portion of amounts payable after more than one year42---€0.06m€0.07m€0.07m€0.07m€0.07m▲ 0.2%
Financial debts43-----€0€0€0-
Credit institutions430/8-----€0€0€0-
Other loans439-----€0€0€0-
Trade debts44€0.3m€0.1m€0.3m€0.2m€0.4m€0.5m€0.4m€0.5m▲ 14.3%
Suppliers440/4---€0.2m€0.4m€0.5m€0.4m€0.5m▲ 14.3%
Bills of exchange payable441-----€0€0€0-
Advances received on contracts in progress46-----€0€0€0-
Taxes, remuneration and social security45---€0.4m€0.6m€0.6m€0.7m€0.7m▲ 8.6%
Taxes450/3---€0.07m€0.09m€0.09m€0.09m€0.09m▼ 0.5%
Remuneration and social security454/9---€0.4m€0.6m€0.6m€0.6m€0.6m▲ 10.1%
Accrued charges and deferred income492/3---€0.05m€0.07m€0.03m€0.06m€0.1m▲ 107%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€107,870€120,957€73,365€12,863€210,482€545,341€158,074€293,654▲ 85.8%
+ Depreciation and write-downs630€47,828€50,727€48,882€92,043€111,415€110,423€106,569€111,666▲ 4.8%
Operating cash flow (approximation)€155,699€171,684€122,247€104,906€321,897€655,764€264,643€405,320▲ 53.2%
Investment in fixed assets (approximation)--€517,912-€318,655-€35,941-€378,400-€29,409-€52,717-€58,732▼ 11.4%
Change in cash-€55,990€14,007-€32,805€64,459-€82,405-€7,896€18,330-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 1,579 companies had the same profile as Walden has now. Two years later, 96.7% were still going and 0.1% had gone bankrupt.

  • Medium-sized
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
96.7% was still going
3.2% stopped otherwise
0.1% went bankrupt

That fits the bankruptcy probability of Walden itself: < 0.1% within 12 months.

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 1,579 companies, not a prediction for Walden. 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.

Latest 10 of 20 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 08-07-2026 2026-00267394 PDF
31-12-2024 abbreviated format 24-06-2025 2025-00233201 PDF
31-12-2023 abbreviated format 02-07-2024 2024-00194765 PDF
31-12-2022 abbreviated format 20-06-2023 2023-00137797 PDF
31-12-2021 abbreviated format 12-07-2022 2022-20214026 PDF
31-12-2020 abbreviated format 23-06-2021 2021-23600265 PDF
31-12-2019 abbreviated format 19-06-2020 2020-20800079 PDF
31-12-2018 abbreviated format 25-06-2019 2019-25200266 PDF
31-12-2017 abbreviated format 03-07-2018 2018-28600144 PDF
31-12-2016 abbreviated format 26-06-2017 2017-22200064 PDF

Show all 20 filings

Next steps

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