WALDRYPROCESS
ActiveSummary
WALDRYPROCESS has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €668,235 and a net result of €19,297. Equity remains stable across the filed financial years (±2% per year). Its solvency ranks better than 95% of 788 sector peers (NACE 10, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Staff
- 1.8 FTE
- Equity
- €668,235
- Profit
- €19,297
- Largest shareholder
- FERMENTED PRODUCT PARTNER · 30.5%
- Board
- 4 members
- Philippe ThonartChair
Why 88raises riskSector: Manufacture of food products (NACE 10)lowers riskEquity €668,235 (93.0% of total assets)Founded in 2011Figures for financial year 2025 (filed 08-07-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 10, micro): better than 93% on solvency, 57% on liquidity, 69% on profitability and 23% on growth.
The bankruptcy probability was computed on 25-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 22 days before the deadline; the sector median (NACE 10) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Back to profitnet €19,297
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €20,376 after a loss of €33,589 in 2024, the highest 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.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 10, Manufacture of food products: 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).
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.1% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 10,905 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €573,627 | €488,985 | €632,771 | €414,112 | €468,099 | €474,275 | €514,224 | €337,987 | ▼ 34.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €237,828 | €217,353 | €304,910 | €302,899 | €170,480 | ▼ 43.7% |
| Remuneration, social security and pensions62 | - | - | - | €120,545 | €153,748 | €159,153 | €175,560 | €77,680 | ▼ 55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €74,919 | €86,559 | €88,435 | €90,471 | €90,539 | €87,744 | €68,455 | €67,300 | ▼ 1.7% |
| Other operating charges640/8 | - | - | - | €4,063 | €1,395 | €3,972 | €1,751 | €1,995 | ▲ 13.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €408 | - |
| Gross operating margin9900 | €200,489 | €218,003 | €265,648 | €176,940 | €251,634 | €173,319 | €212,178 | €167,759 | ▼ 20.9% |
| Operating profit (loss)9901 | €16,441 | €18,775 | €59,041 | -€38,138 | €5,952 | -€77,551 | -€33,589 | €20,376 | - |
| Financial income75/76B | - | - | - | €1,893 | €1,871 | €1,778 | €239 | €250 | ▲ 4.4% |
| Recurring financial income75 | €13 | €47 | €3,614 | €1,893 | €1,871 | €1,778 | €239 | €250 | ▲ 4.4% |
| Financial charges65/66B | - | - | - | €5,442 | €3,147 | €1,304 | €1,317 | €1,329 | ▲ 0.9% |
| Recurring financial charges65 | €12,544 | €10,183 | €8,258 | €5,442 | €2,822 | €1,304 | €1,317 | €1,329 | ▲ 0.9% |
| Non-recurring financial charges66B | - | - | - | - | €325 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €3,910 | €8,639 | €54,397 | -€41,687 | €4,676 | -€77,077 | -€34,667 | €19,297 | - |
| Profit (loss) for the period9904 | €3,910 | €8,639 | €54,397 | -€41,687 | €4,676 | -€77,077 | -€34,667 | €19,297 | - |
| Profit (loss) for the period to be appropriated9905 | €3,910 | €8,639 | €54,397 | -€41,687 | €4,676 | -€77,077 | -€34,667 | €19,297 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.1m | €1.1m | €1.0m | €0.9m | €0.8m | €0.7m | €0.7m | ▲ 2.9% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 7.8% |
| Intangible fixed assets21 | €0.002m | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 7.8% |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 5.6% |
| Plant, machinery and equipment23 | - | - | - | €0.5m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 9.5% |
| Furniture and vehicles24 | - | - | - | - | €0.001m | €0.001m | €363 | €193 | ▼ 46.7% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €0.3m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 55.7% |
| Stocks and contracts in progress3 | €0.008m | €0.01m | €0.009m | €0.006m | €0.01m | €0.001m | €61 | - | - |
| Stocks30/36 | - | - | - | €0.006m | €0.01m | €0.001m | €61 | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.08m | €0.09m | €0.04m | €0.09m | €0.05m | €0.1m | ▲ 231% |
| Trade receivables40 | - | - | - | €0.07m | €0.03m | €0.07m | €0.03m | €0.1m | ▲ 461% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.004m | €0.01m | €0.02m | €0.002m | ▼ 91.1% |
| Cash at bank and in hand54/58 | €0.1m | €0.03m | €0.1m | €0.07m | €0.1m | €0.06m | €0.07m | €0.03m | ▼ 56.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | ▼ 6.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.1m | €1.1m | €1.0m | €0.9m | €0.8m | €0.7m | €0.7m | ▲ 2.9% |
| Equity10/15 | €0.7m | €0.7m | €0.8m | €0.8m | €0.8m | €0.7m | €0.6m | €0.7m | ▲ 3.0% |
| Contributions10/11 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Capital10 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Issued capital100 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.004m | ▲ 66.7% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.004m | ▲ 66.7% |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.004m | ▲ 66.7% |
| Profit (loss) carried forward14 | €0.007m | €0.02m | €0.07m | €0.03m | €0.03m | -€0.04m | -€0.08m | -€0.06m | ▲ 22.7% |
| Investment grants15 | - | - | - | €0.004m | €0.002m | €181 | €0 | - | - |
| Amounts payable17/49 | €0.4m | €0.3m | €0.3m | €0.2m | €0.1m | €0.1m | €0.05m | €0.05m | ▲ 1.5% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.07m | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.05m | €0.05m | ▼ 8.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.005m | - | - | - | - |
| Trade debts44 | €0.1m | €0.03m | €0.1m | €0.1m | €0.07m | €0.1m | €0.03m | €0.03m | ▼ 12.3% |
| Suppliers440/4 | - | - | - | €0.1m | €0.07m | €0.1m | €0.03m | €0.03m | ▼ 12.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.03m | €0.01m | €0.02m | €0.02m | ▼ 0.7% |
| Taxes450/3 | - | - | - | - | €0.02m | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | ▼ 0.7% |
| Other amounts payable47/48 | - | - | - | - | €0.009m | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €199 | €16 | - | - | €0.005m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,910 | €8,639 | €54,397 | -€41,687 | €4,676 | -€77,077 | -€34,667 | €19,297 | - |
| + Depreciation and write-downs630 | €74,919 | €86,559 | €88,435 | €90,471 | €90,539 | €87,744 | €68,455 | €67,300 | ▼ 1.7% |
| Operating cash flow (approximation) | €78,829 | €95,197 | €142,831 | €48,784 | €95,215 | €10,668 | €33,789 | €86,597 | ▲ 156% |
| Investment in fixed assets (approximation) | - | -€118,240 | -€32,957 | €0 | -€6,518 | -€21,259 | €0 | -€21,818 | - |
| Change in cash | - | -€97,314 | €94,623 | -€53,907 | €38,845 | -€44,667 | €3,140 | -€38,336 | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 08-07-2026 | 2026-00292602 |
| 31-12-2024 | full format | 04-06-2025 | 2025-00134002 |
| 31-12-2023 | full format | 27-06-2024 | 2024-00203128 |
| 31-12-2022 | full format | 20-07-2023 | 2023-00269415 |
| 31-12-2021 | full format | 26-07-2022 | 2022-20230856 |
| 31-12-2020 | full format | 02-07-2021 | 2021-31700298 |
| 31-12-2019 | full format | 04-08-2020 | 2020-39300401 |
| 31-12-2018 | full format | 08-07-2019 | 2019-30200358 |
| 31-12-2017 | full format | 21-06-2018 | 2018-21800187 |
| 31-12-2016 | full format | 19-06-2017 | 2017-19600197 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 4
Day-to-day management 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Marie-Anne HENRARD |
|
| Micheline ROUER |
|
| Philippe Thonart |
|
| Slim ZGOULLI |
|
Owners and capital
Owners
2 ownersOwners 2
-
30.5%
-
30.2%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
08-01
Gazette deed
Appointment: Philippe THONART (chair)Amendment of the articles · Kind of shares · Declaration19 facts ▸
- General meeting, 20-12-2023
- Amendment of the articles (2 times)
- Other provision, “dispense de lecture du rapport du conseil d'administration, copie reçue antérieurement” (deed in French)
- Kind of shares, “suppression des classes d'actions, capital actuellement repris par mille actions” (deed in French)
- Other provision, “courrier du 2023-12-07 annexé par le notaire, prise en compte lors de la coordination des statuts” (deed in French)
- Other provision, “intermédiaire, relais de demande dans le cadre de l'article 7:155 du CSA” (deed in French)
- Declaration, 07-12-2023
- Capital, €725,000
- Other provision, “historique du capital”, 725000 (deed in French)
- Registered office clause, “rue Herman Meganck,21,5032-Isnes,Gembloux” (deed in French)
- Power of attorney
- Board composition, Philippe THONART (director)
- +7 further facts in this act
09-08
Gazette deed
Reappointments: Micheline ROUER, Marie-Anne HENRARD and 2 others5 facts ▸
- General meeting, 03-05-2023
- Director reappointment, Micheline ROUER (director)
- Director reappointment, Marie-Anne HENRARD (director)
- Director reappointment, Slim ZGOULLI (director)
- Director reappointment, Philippe Thonart (managing director)
Show earlier events
About the unread acts
Of the 8 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteEnvironmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92065B0060/00G003 | Wallonia | 2,632 m² | 1 · 1,070 m² | 11.7 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La production,le séchage et la commercialisation de tout produit notamment de produits végétaux,de microorganismes,de tout produit…” (deed in French)
10 activities (deed in French)
- La production,le séchage et la commercialisation de tout produit notamment de produits végétaux,de microorganismes,de tout produit alimentaire
- L'étude,le conseil,la consultation,l'expertise,l'ingénierie et toutes prestations de services dans le cadre des activités prédécrites
- La réalisation,pour son compte propre,de toutes opérations foncières et immobilières
- L’achat,la vente,l'échange,la construction,la reconstruction,la démolition,la transformation,l'exploitation,la location et la gérance de tous immeubles bâtis,meublés ou non
- L’achat,la vente,l'échange,la mise en valeur,le lotissement,l'exploitation,la location et l'affermage de tous immeubles non bâtis
- Donner à bail ses installations et exploitations ou les donner à gérer à des tiers,en tout ou en partie
- Réaliser toutes opérations commerciales,industrielles,financières,mobilières ou immobilières ayant un rapport direct ou indirect avec son objet social ou de nature à en favoriser la réalisation
- S'intéresser par voie d’association,d’apport,de souscription,de cession,de participation,de fusion,d'intervention financière ou autrement,dans toutes sociétés,associations et entreprises dont l'objet est analogue ou connexe au sien ou susceptible de favoriser son développement ou de constituer pour elle une source de débouchés
- Se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société,liée ou non
- Être administrateur,gérant ou liquidateur
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- WALDRYPROCESS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, établir ou supprimer sièges administratifs,agences,ateliers,dépôts,succursales en Belgique et à l'étranger” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Candidat le plus âgé élu, administrateurs restants ont droit de coopter” (deed in French)“Lieu indiqué convocation,à défaut siège social, chaque fois que intérêt société exige” (deed in French)“Assemblée peut allouer, assemblée générale décide à chaque nomination si et mesure fixe ou variable” (deed in French)3 more provisions on this in the deed
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Cessions et transmissions à titre onéreux ou gratuit à des tiers non actionnaires, moitié à charge du cédant et moitié à charge du ou des…” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Wednesday of May at 18:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Désignation des liquidateurs, Article 37” (deed in French)“Article 38, toutes opérations prévues par la loi” (deed in French)“Paiement dettes,charges,frais ou consignation, Article 39” (deed in French)