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WALDING

Active Risk: not assessed
Public limited companyfounded 1999active for 27 yearsHeirbaan 395, 9150 Beveren-Kruibeke-Zwijndrecht, BelgiumKBO/BCE: BE 0465.963.353

Financials · financial year 2025, full format

Annual accounts 2025 filed on 12-06-2026 PDF all 27 filings

Equity
€23.1m▲ 1.7%
2024 · €22.8m
Net result
€391,381▼ 67.6%
2024 · €1.2m
Total assets
€23.6m▼ 4.9%
2024 · €24.8m
Solvency
98.2%▲ 6.4pp
2024 · 91.8%
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result for 2025 is 121% higher than in 2024. It is a recovery after the fall in 2024.

Turnover€1.6m 2025 Operating result€0.4m 2025 Net result€0.4m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Turnover€1.0m-€1.1m▲ 7.4%€0.9m▼ 19.5%€1.1m▲ 25.5%€1.1m▲ 2.9%€1.1m▼ 1.6%€1.6m▲ 44.1%
Operating result€0.7m-€0.4m▼ 46.2%€0.3m▼ 24.4%€0.5m▲ 67.3%€0.3m▼ 38.3%€0.2m▼ 35.2%€0.4m▲ 121%
Net result€0.6m-€0.4mwithin the sector's middle half▼ 34.2%€1.5mabove the sector's middle half▲ 261%€3.4mabove the sector's middle half▲ 127%€0.2mwithin the sector's middle half▼ 93.6%€1.2mabove the sector's middle half▲ 458%€0.4mwithin the sector's middle half▼ 67.6%
Equity€16.1m-€16.5mwithin the sector's middle half▲ 2.6%€18.0mwithin the sector's middle half▲ 9.0%€21.3mabove the sector's middle half▲ 18.7%€21.5mabove the sector's middle half▲ 1.0%€22.8mabove the sector's middle half▲ 5.6%€23.1mabove the sector's middle half▲ 1.7%
Total assets€19.9m-€19.5mwithin the sector's middle half▼ 1.9%€19.0mwithin the sector's middle half▼ 2.9%€23.5mwithin the sector's middle half▲ 23.7%€23.7mwithin the sector's middle half▲ 0.9%€24.8mwithin the sector's middle half▲ 4.8%€23.6mwithin the sector's middle half▼ 4.9%
Debt€3.8m-€3.0m▼ 20.6%€1.0m▼ 67.6%€2.1m▲ 115%€2.1m▼ 0.2%€2.0m▼ 3.7%€0.4m▼ 79.7%
Working capital€3.5m-€3.2mabove the sector's middle half▼ 6.6%€4.7mabove the sector's middle half▲ 45.8%€9.2mabove the sector's middle half▲ 95.5%€8.6mabove the sector's middle half▼ 6.7%€9.7mabove the sector's middle half▲ 12.9%€8.6mabove the sector's middle half▼ 11.8%
Solvency80.7%-84.4%within the sector's middle half▲ 3.7pp94.7%above the sector's middle half▲ 10.4pp90.9%above the sector's middle half▼ 3.8pp91.0%above the sector's middle half▲ 0.1pp91.8%above the sector's middle half▲ 0.7pp98.2%above the sector's middle half▲ 6.4pp
Current ratio9.49-10.28above the sector's middle half▲ 0.7827.06above the sector's middle half▲ 16.7831.99above the sector's middle half▲ 4.9329.43above the sector's middle half▼ 2.5721.63above the sector's middle half▼ 7.8021.84above the sector's middle half▲ 0.22
Return on assets (ROA)3.1%-2.1%within the sector's middle half▼ 1.0pp7.8%within the sector's middle half▲ 5.7pp14.3%above the sector's middle half▲ 6.5pp0.9%within the sector's middle half▼ 13.4pp4.9%within the sector's middle half▲ 4.0pp1.7%within the sector's middle half▼ 3.2pp
Staff (FTE)4.8-6within the sector's middle half▲ 25.0%5.9within the sector's middle half▼ 1.7%6.4within the sector's middle half▲ 8.5%7.3within the sector's middle half▲ 14.1%9.7above the sector's middle half▲ 32.9%11.8above the sector's middle half▲ 21.6%
above within below The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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.
Large changes and their cause
  • 2021 Net result +261% on 2020. The previous financial year ran 15 months, this one 12.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23.6m
Fixed assets €14.6m ▼ 0.2%
Current assets €9.0m ▼ 11.8%
Equity and liabilities €23.6m
Equity €23.1m ▲ 1.7%
Provisions €15,253 ▼ 5.3%
Debt €411,443 ▼ 79.7%
Debt's share of the balance-sheet total falls from 8.2% to 1.7%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
1.7%▼
2024 · 5.3%
Debt ≤ 1 year
€411,443▼
2024 · €471,201
Income taxes
€152,373▲
2024 · €60,379
Staff costs
€824,650▲
2024 · €627,596
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as WALDING: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €13m and €26m, founded between 1993 and 2004.

CompanyFoundedTotal assetsEquityTurnoverNet resultFTEFinancial year
WALDING Beveren-Kruibeke-Zwijndrecht1999€23.6m€23.1m€1.6m€0.4m11.82025
J.V.D. Gent2001€25.4m€12.4m€1.3m-€0.9m11.22025
Verbeken Holding Dendermonde1993€23.8m€18.7m€2.1m€0.3m10.12025
VANDEN BROELE INVEST Brugge2002€26.2m€18.2m€1.3m€1.8m9.42025
Belgian Cycling Group Meerhout2000€13.0m€6.0m€2.0m€0.3m10.32025
STEDI Roeselare2004€22.9m€14.5m€2.5m-€0.5m11.72025
G. Snel Services Belgium Deinze1997€13.6m€2.5m€1.8m-€0.4m7.72025

They were chosen from the 20,097 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 85 lines

Source: Annual accounts 2025 (PDF), filed on 12-06-2026.

Balance sheet Code20242025
Assets
Total assets20/58€24.8m€23.6m▼
Fixed assets21/28€14.6m€14.6m▼
Intangible fixed assets21€0.04m€0.04m▼
Tangible fixed assets22/27€0.8m€0.8m▼
Land and buildings22€0.8m€0.8m▼
Furniture and vehicles24€0.02m€0.03m▲
Financial fixed assets28€13.7m€13.7m=
Affiliated companies280/1€13.7m€13.7m=
Participating interests280€13.7m€13.7m=
Current assets29/58€10.2m€9.0m▼
Amounts receivable after more than one year29€6.8m€5.6m▼
Other amounts receivable291€6.8m€5.6m▼
Stocks and contracts in progress3€3.1m€3.1m▲
Stocks30/36€3.1m€3.1m▲
Property held for sale35€3.1m€3.1m▲
Amounts receivable within one year40/41€0.2m€0.2m▼
Trade receivables40€0.2m€0.2m▼
Other amounts receivable41€0.01m€0.01m▲
Current investments50/53€0.001m€0.001m=
Other investments51/53€0.001m€0.001m=
Cash at bank and in hand54/58€0.06m€0.07m▲
Deferred charges and accrued income490/1€0.04m€0.01m▼
Equity and liabilities
Total equity and liabilities10/49€24.8m€23.6m▼
Equity10/15€22.8m€23.1m▲
Contributions10/11€10.8m€10.8m=
Capital10€10.8m€10.8m=
Issued capital100€10.8m€10.8m=
Reserves13€2.6m€2.7m▲
Non-distributable reserves130/1€0.9m€0.9m▲
Legal reserve130€0.9m€0.9m▲
Tax-exempt reserves132€0.3m€0.4m▲
Distributable reserves133€1.4m€1.4m=
Profit (loss) carried forward14€9.4m€9.6m▲
Provisions and deferred taxes16€0.02m€0.02m▼
Deferred taxes168€0.02m€0.02m▼
Amounts payable17/49€2.0m€0.4m▼
Amounts payable after more than one year17€1.5m-
Financial debts170/4€1.5m-
Credit institutions173€1.5m-
Amounts payable within one year42/48€0.5m€0.4m▼
Current portion of amounts payable after more than one year42€0.2m€0.03m▼
Financial debts43€0.02m€0.03m▲
Credit institutions430/8€0.02m€0.03m▲
Trade debts44€0.03m€0.04m▲
Suppliers440/4€0.03m€0.04m▲
Taxes, remuneration and social security45€0.2m€0.3m▲
Taxes450/3€0.1m€0.1m▲
Remuneration and social security454/9€0.1m€0.1m▲
Other amounts payable47/48€0.002m€0.04m▲
Accrued charges and deferred income492/3€0.01m-
Income statement Code20242025
Operating income70/76A€1.2m€1.6m▲
Turnover70€1.1m€1.6m▲
Other operating income74€0.02m€0.03m▲
Non-recurring operating income76A€0.06m-
Operating charges60/66A€1.0m€1.2m▲
Purchases600/8€0.004m€0.009m▲
Change in stocks: decrease (increase)609-€0.004m-€0.009m▼
Services and other goods61€0.3m€0.3m▲
Remuneration, social security and pensions62€0.6m€0.8m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.08m€0.07m▼
Other operating charges640/8€0.007m€0.006m▼
Operating profit (loss)9901€0.2m€0.4m▲
Financial income75/76B€1.2m€0.2m▼
Recurring financial income75€1.2m€0.2m▼
Income from financial fixed assets750€1.0m-
Income from current assets751€0.1m€0.2m▲
Other financial income752/9€0€0▼
Financial charges65/66B€0.1m€0.04m▼
Recurring financial charges65€0.1m€0.04m▼
Debt charges650€0.1m€0.03m▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€228-
Other financial charges652/9€0.003m€0.004m▲
Profit (loss) for the period before taxes9903€1.3m€0.5m▼
Transfer from deferred taxes780€0.001m€0.001m=
Income taxes67/77€0.06m€0.2m▲
Taxes670/3€0.06m€0.2m▲
Profit (loss) for the period9904€1.2m€0.4m▼
Transfer from tax-exempt reserves789€0.003m€0.003m=
Transfer to tax-exempt reserves689-€0.2m
Profit (loss) for the period to be appropriated9905€1.2m€0.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906€9.5m€9.6m▲
Profit (loss) brought forward from the previous period14P€8.3m€9.4m▲
Transfer to equity691/2€0.06m€0.01m▼
To the legal reserve6920€0.06m€0.01m▼
Social balance sheet
Average headcount (FTE)90879.711.8▲

The notes to these accounts have 54 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line2019202020212022202320242025Change
Operating income70/76A--€0.9m€1.2m€1.2m€1.2m€1.6m▲ 36.5%
Turnover70€1.0m€1.1m€0.9m€1.1m€1.1m€1.1m€1.6m▲ 44.1%
Other operating income74--€0.02m€0.02m€0.02m€0.02m€0.03m▲ 45.3%
Non-recurring operating income76A---€0.06m€0.1m€0.06m--
Operating charges60/66A--€0.6m€0.7m€0.9m€1.0m€1.2m▲ 21.1%
Purchases600/8--€0.003m€0.008m€0.005m€0.004m€0.009m▲ 142%
Change in stocks: decrease (increase)609---€0.003m-€0.008m-€0.005m-€0.004m-€0.009m▼ 142%
Services and other goods61--€0.2m€0.2m€0.3m€0.3m€0.3m▲ 5.2%
Remuneration, social security and pensions62--€0.3m€0.4m€0.5m€0.6m€0.8m▲ 31.4%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.08m€0.1m€0.09m€0.09m€0.09m€0.08m€0.07m▼ 2.3%
Other operating charges640/8--€0.01m€0.007m€0.01m€0.007m€0.006m▼ 11.0%
Operating profit (loss)9901€0.7m€0.4m€0.3m€0.5m€0.3m€0.2m€0.4m▲ 121%
Financial income75/76B--€1.5m€3.1m€0.1m€1.2m€0.2m▼ 84.9%
Recurring financial income75€0.002m€0.1m€0.01m€3.1m€0.1m€1.2m€0.2m▼ 84.9%
Income from financial fixed assets750---€3.0m€0€1.0m--
Income from current assets751--€0.01m€0.06m€0.1m€0.1m€0.2m▲ 20.1%
Other financial income752/9--€2€4€77€0€0▼ 80.0%
Non-recurring financial income76B--€1.5m-----
Financial charges65/66B--€0.3m€0.03m€0.09m€0.1m€0.04m▼ 63.3%
Recurring financial charges65€0.05m€0.07m€0.3m€0.03m€0.09m€0.1m€0.04m▼ 63.3%
Debt charges650€0.05m€0.06m€0.02m€0.03m€0.09m€0.1m€0.03m▼ 66.7%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651--€0.3m-€225-€273€228--
Other financial charges652/9--€0.001m€0.003m€0.002m€0.003m€0.004m▲ 69.3%
Profit (loss) for the period before taxes9903€0.6m€0.4m€1.5m€3.5m€0.3m€1.3m€0.5m▼ 57.1%
Transfer from deferred taxes780--€0.001m€0.001m€0.001m€0.001m€0.001m=
Income taxes67/77€0.002m-€247€0.005m€0.1m€0.09m€0.06m€0.2m▲ 152%
Taxes670/3--€0.005m€0.1m€0.09m€0.06m€0.2m▲ 152%
Profit (loss) for the period9904€0.6m€0.4m€1.5m€3.4m€0.2m€1.2m€0.4m▼ 67.6%
Transfer from tax-exempt reserves789--€0.003m€0.003m€0.003m€0.003m€0.003m=
Transfer to tax-exempt reserves689---€0.2m--€0.2m-
Profit (loss) for the period to be appropriated9905€0.6m€0.4m€1.5m€3.1m€0.2m€1.2m€0.2m▼ 81.3%
Line2019202020212022202320242025Change
Assets
Total assets20/58€19.9m€19.5m€19.0m€23.5m€23.7m€24.8m€23.6m▼ 4.9%
Fixed assets21/28€16.0m€16.0m€14.1m€13.9m€14.8m€14.6m€14.6m▼ 0.2%
Intangible fixed assets21€0.008m€0.005m€0.003m€0.001m€0.03m€0.04m€0.04m▼ 8.4%
Tangible fixed assets22/27€1.4m€1.3m€1.3m€1.1m€1.0m€0.8m€0.8m▼ 2.4%
Land and buildings22--€1.2m€1.1m€1.0m€0.8m€0.8m▼ 3.3%
Furniture and vehicles24--€0.03m€0.03m€0.02m€0.02m€0.03m▲ 29.9%
Financial fixed assets28€14.6m€14.6m€12.8m€12.8m€13.7m€13.7m€13.7m=
Affiliated companies280/1--€12.8m€12.8m€13.7m€13.7m€13.7m=
Participating interests280--€12.8m€12.8m€13.7m€13.7m€13.7m=
Current assets29/58€3.9m€3.6m€4.9m€9.5m€8.9m€10.2m€9.0m▼ 11.8%
Amounts receivable after more than one year29--€1.6m€6.3m€5.6m€6.8m€5.6m▼ 17.5%
Other amounts receivable291--€1.6m€6.3m€5.6m€6.8m€5.6m▼ 17.5%
Stocks and contracts in progress3€3.0m€3.0m€3.0m€3.0m€3.0m€3.1m€3.1m▲ 0.3%
Stocks30/36--€3.0m€3.0m€3.0m€3.1m€3.1m▲ 0.3%
Property held for sale35--€3.0m€3.0m€3.0m€3.1m€3.1m▲ 0.3%
Amounts receivable within one year40/41€0.2m€0.07m€0.09m€0.09m€0.3m€0.2m€0.2m▼ 3.5%
Trade receivables40--€0.08m€0.07m€0.2m€0.2m€0.2m▼ 4.3%
Other amounts receivable41--€0.008m€0.02m€0.02m€0.01m€0.01m▲ 10.3%
Current investments50/53€0.4m€0.3m€0.001m€0.001m€0.002m€0.001m€0.001m=
Other investments51/53--€0.001m€0.001m€0.002m€0.001m€0.001m=
Cash at bank and in hand54/58€0.01m€0.1m€0.2m€0.1m€0.02m€0.06m€0.07m▲ 16.1%
Deferred charges and accrued income490/1--€0.008m€0.002m€0.002m€0.04m€0.01m▼ 69.6%
Equity and liabilities
Total equity and liabilities10/49€19.9m€19.5m€19.0m€23.5m€23.7m€24.8m€23.6m▼ 4.9%
Equity10/15€16.1m€16.5m€18.0m€21.3m€21.5m€22.8m€23.1m▲ 1.7%
Contributions10/11€10.8m€10.8m€10.8m€10.8m€10.8m€10.8m€10.8m=
Capital10--€10.8m€10.8m€10.8m€10.8m€10.8m=
Issued capital100--€10.8m€10.8m€10.8m€10.8m€10.8m=
Reserves13€2.0m€2.0m€2.1m€2.5m€2.5m€2.6m€2.7m▲ 6.9%
Non-distributable reserves130/1--€0.6m€0.8m€0.8m€0.9m€0.9m▲ 1.3%
Legal reserve130--€0.6m€0.8m€0.8m€0.9m€0.9m▲ 1.3%
Tax-exempt reserves132--€0.06m€0.3m€0.3m€0.3m€0.4m▲ 59.1%
Distributable reserves133--€1.4m€1.4m€1.4m€1.4m€1.4m=
Profit (loss) carried forward14€3.3m€3.7m€5.1m€8.1m€8.3m€9.4m€9.6m▲ 2.3%
Provisions and deferred taxes16€0.02m€0.02m€0.02m€0.02m€0.02m€0.02m€0.02m▼ 5.3%
Deferred taxes168--€0.02m€0.02m€0.02m€0.02m€0.02m▼ 5.3%
Amounts payable17/49€3.8m€3.0m€1.0m€2.1m€2.1m€2.0m€0.4m▼ 79.7%
Amounts payable after more than one year17€3.4m€2.7m€0.8m€1.8m€1.8m€1.5m--
Financial debts170/4--€0.8m€1.8m€1.8m€1.5m--
Credit institutions173--€0.2m€1.8m€1.8m€1.5m--
Other loans174--€0.6m-----
Amounts payable within one year42/48€0.4m€0.3m€0.2m€0.3m€0.3m€0.5m€0.4m▼ 12.7%
Current portion of amounts payable after more than one year42--€0.04m€0.04m€0.04m€0.2m€0.03m▼ 84.9%
Financial debts43----€0.007m€0.02m€0.03m▲ 71.4%
Credit institutions430/8----€0.007m€0.02m€0.03m▲ 71.4%
Trade debts44€0.03m€0.03m€0.03m€0.02m€0.06m€0.03m€0.04m▲ 45.9%
Suppliers440/4--€0.03m€0.02m€0.06m€0.03m€0.04m▲ 45.9%
Taxes, remuneration and social security45--€0.09m€0.2m€0.2m€0.2m€0.3m▲ 26.0%
Taxes450/3--€0.05m€0.1m€0.1m€0.1m€0.1m▲ 20.2%
Remuneration and social security454/9--€0.04m€0.07m€0.09m€0.1m€0.1m▲ 33.3%
Other amounts payable47/48--€0.01m€0.06m€0.01m€0.002m€0.04m▲ 26×
Accrued charges and deferred income492/3--€0.001m€0.02m€0.05m€0.01m--
Line2019202020212022202320242025Change
Profit (loss) for the period9904€0.6m€0.4m€1.5m€3.4m€0.2m€1.2m€0.4m▼ 67.6%
+ Depreciation and write-downs630€0.08m€0.1m€0.09m€0.09m€0.09m€0.08m€0.07m▼ 2.3%
Operating cash flow (approximation)€0.7m€0.5m€1.6m€3.5m€0.3m€1.3m€0.5m▼ 63.7%
Investment in fixed assets (approximation)--€0.01m€1.8m€0.04m-€0.9m€0.07m-€0.05m-
Change in cash-€0.1m€0.06m-€0.1m-€0.08m€0.04m€0.009m▼ 78.0%

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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Latest 10 of 27 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 12-06-2026 2026-00156986 PDF
31-12-2024 full format 04-08-2025 2025-00356096 PDF
31-12-2023 full format 31-08-2024 2024-00442891 PDF
31-12-2022 full format 30-08-2023 2023-00397583 PDF
31-12-2021 full format 30-06-2022 2022-20125190 PDF
31-12-2020 full format 30-06-2021 2021-29600071 PDF
30-09-2019 full format 10-04-2020 2020-09200319 PDF
30-09-2018 full format 15-03-2019 2019-07400139 PDF
30-09-2017 full format 14-03-2018 2018-06800172 PDF
30-09-2016 full format 17-03-2017 2017-06900401 PDF

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