WALFORM
ActiveSummary
WALFORM has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €193,171. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 65% of 906 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-3
Solvency74▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.18 in 2024; short-term debt: 24.9% and cash: 2.2% of total assets), and 50.9% of the assets are financed with debt.
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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 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
49.1%
Return on assets
5.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
29 d late
2023
114 d late
2022
198 d late
2021
150 d late
2020
152 d late
2019
65 d late
← 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 106 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 company by equity in Ottignies-Louvain-la-Neuve, Arts, sports and recreation sector#6 company by total assets in Ottignies-Louvain-la-Neuve, Arts, sports and recreation sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€193,171▼ 25.4%
2024 · €258,946
Working capital
€67,638▼ 37.8%
2024 · €108,711
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, 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
Operating result€69,257€47,311▼ 31.7%€115,768▲ 145%€276,255▲ 139%€213,841▼ 22.6%
Net result€53,063within the sector's middle half€32,089above the sector's middle half▼ 39.5%€100,073above the sector's middle half▲ 212%€258,946above the sector's middle half▲ 159%€193,171above the sector's middle half▼ 25.4%
Equity€1.6mabove the sector's middle half▲ 216%€1.6mabove the sector's middle half▲ 0.4%€1.6mabove the sector's middle half=€1.6mabove the sector's middle half▲ 0.1%€1.6mabove the sector's middle half▲ 0.2%
Total assets€2.5mwithin the sector's middle half▲ 78.0%€2.5mabove the sector's middle half▲ 1.4%€2.7mabove the sector's middle half▲ 6.8%€3.0mabove the sector's middle half▲ 13.3%€3.3mabove the sector's middle half▲ 7.3%
Debt€890,060=€918,024▲ 3.1%€1.1m▲ 18.7%€1.4m▲ 32.7%€1.7m▲ 15.2%
Working capital€108,305▲ 1.4%€125,331▲ 15.7%€65,012▼ 48.1%€108,711▲ 67.2%€67,638▼ 37.8%
Solvency64.2%above the sector's middle half▲ 28.0pp63.6%above the sector's middle half▼ 0.6pp59.5%above the sector's middle half▼ 4.0pp52.6%within the sector's middle half▼ 6.9pp49.1%within the sector's middle half▼ 3.5pp
Staff (FTE)1.5below the sector's middle half▼ 11.8%8.8▲ 487%6.36.3within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2022 Staff (FTE) +487% on 2021. The accounts now follow the micro schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.3m
Fixed assets
€2.4m ▲ 2.3%
Current assets
€880,892 ▲ 23.7%
Equity and liabilities €3.3m
Equity
€1.6m ▲ 0.2%
Debt
€1.7m ▲ 15.2%
Debt's share of the balance-sheet total rises from 47.4% to 50.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€240,648▼
2024 · €294,642
Cash flow
€219,979▼
2024 · €277,333
Current ratio
1.08▼
2024 · 1.18
Debt to equity
1.04▲
2024 · 0.90
ROE
12.0%▼
2024 · 16.2%
ROA
5.9%▼
2024 · 8.5%
Interest coverage
12.24▼
2024 · 17.04
Debt ≤ 1 year
€813,254▲
2024 · €603,407
Debt > 1 year
€611,477▼
2024 · €644,291
Income taxes
€1,002
Staff costs
€149,980▲
2024 · €125,375
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 31,324 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €62,576 | €122,912 | €114,330 | €125,375 | €149,980 | ▲ 19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,461 | €38,546 | €13,969 | €18,387 | €26,808 | ▲ 45.8% |
| Other operating charges640/8 | €17,474 | €18,363 | €13,726 | €17,386 | €27,266 | ▲ 56.8% |
| Gross operating margin9900 | €187,768 | €227,133 | €257,793 | €437,404 | €417,895 | ▼ 4.5% |
| Operating profit (loss)9901 | €69,257 | €47,311 | €115,768 | €276,255 | €213,841 | ▼ 22.6% |
| Financial income75/76B | €181 | €3 | - | €8 | - | - |
| Recurring financial income75 | €181 | €3 | - | €8 | - | - |
| Financial charges65/66B | €16,246 | €14,991 | €15,036 | €17,318 | €19,668 | ▲ 13.6% |
| Recurring financial charges65 | €16,246 | €14,991 | €15,036 | €17,290 | €19,668 | ▲ 13.8% |
| Non-recurring financial charges66B | - | - | - | €27 | - | - |
| Profit (loss) for the period before taxes9903 | €53,192 | €32,322 | €100,733 | €258,946 | €194,173 | ▼ 25.0% |
| Income taxes67/77 | €129 | €233 | €660 | - | €1,002 | - |
| Profit (loss) for the period9904 | €53,063 | €32,089 | €100,073 | €258,946 | €193,171 | ▼ 25.4% |
| Profit (loss) for the period to be appropriated9905 | €53,063 | €32,089 | €100,073 | €258,946 | €193,171 | ▼ 25.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €2.5m | €2.7m | €3.0m | €3.3m | ▲ 7.3% |
| Fixed assets21/28 | €2.2m | €2.2m | €2.3m | €2.3m | €2.4m | ▲ 2.3% |
| Tangible fixed assets22/27 | €1.6m | €1.6m | €1.6m | €1.7m | €1.7m | ▲ 3.2% |
| Land and buildings22 | €1.5m | €1.5m | €1.5m | €1.5m | €1.6m | ▲ 1.8% |
| Plant, machinery and equipment23 | €18,347 | €24,693 | €92,859 | €139,723 | €163,610 | ▲ 17.1% |
| Furniture and vehicles24 | €31,935 | €3,198 | €3,037 | €2,510 | €4,696 | ▲ 87.1% |
| Financial fixed assets28 | €649,859 | €649,859 | €649,859 | €649,859 | €649,859 | = |
| Current assets29/58 | €247,794 | €296,448 | €400,740 | €712,118 | €880,892 | ▲ 23.7% |
| Amounts receivable within one year40/41 | €129,470 | €198,851 | €351,101 | €625,360 | €808,674 | ▲ 29.3% |
| Trade receivables40 | €121,536 | €195,894 | €86,455 | €141,032 | €134,272 | ▼ 4.8% |
| Other amounts receivable41 | €7,934 | €2,957 | €264,646 | €484,328 | €674,402 | ▲ 39.2% |
| Cash at bank and in hand54/58 | €118,324 | €97,597 | €49,639 | €86,759 | €71,823 | ▼ 17.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €395 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €2.5m | €2.7m | €3.0m | €3.3m | ▲ 7.3% |
| Equity10/15 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | ▲ 0.2% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €432,450 | €432,450 | €432,450 | €432,450 | €432,450 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €56,250 | €56,250 | €56,250 | €56,250 | €56,250 | = |
| Distributable reserves133 | €370,000 | €370,000 | €370,000 | €370,000 | €370,000 | = |
| Profit (loss) carried forward14 | €63,427 | €70,516 | €70,589 | €71,535 | €74,705 | ▲ 4.4% |
| Amounts payable17/49 | €890,060 | €918,024 | €1.1m | €1.4m | €1.7m | ▲ 15.2% |
| Amounts payable after more than one year17 | €635,086 | €565,172 | €584,480 | €644,291 | €611,477 | ▼ 5.1% |
| Financial debts170/4 | €575,086 | €505,172 | €524,480 | €553,269 | €544,027 | ▼ 1.7% |
| Other amounts payable178/9 | €60,000 | €60,000 | €60,000 | €91,021 | €67,450 | ▼ 25.9% |
| Amounts payable within one year42/48 | €139,489 | €171,117 | €335,728 | €603,407 | €813,254 | ▲ 34.8% |
| Current portion of amounts payable after more than one year42 | €62,690 | €75,112 | €68,906 | €66,972 | €78,192 | ▲ 16.8% |
| Trade debts44 | €35,721 | €10,513 | €86,865 | €112,197 | €103,914 | ▼ 7.4% |
| Suppliers440/4 | €35,721 | €10,513 | €86,865 | €112,197 | €103,914 | ▼ 7.4% |
| Taxes, remuneration and social security45 | €31,247 | €51,232 | €46,327 | €33,043 | €50,379 | ▲ 52.5% |
| Taxes450/3 | €4,377 | €2,829 | €4,581 | €4,086 | €6,325 | ▲ 54.8% |
| Remuneration and social security454/9 | €26,870 | €48,403 | €41,746 | €28,958 | €44,053 | ▲ 52.1% |
| Other amounts payable47/48 | €9,830 | €34,260 | €133,631 | €391,195 | €580,770 | ▲ 48.5% |
| Accrued charges and deferred income492/3 | €115,484 | €181,735 | €169,159 | €197,560 | €239,557 | ▲ 21.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,063 | €32,089 | €100,073 | €258,946 | €193,171 | ▼ 25.4% |
| + Depreciation and write-downs630 | €38,461 | €38,546 | €13,969 | €18,387 | €26,808 | ▲ 45.8% |
| Operating cash flow (approximation) | €91,524 | €70,635 | €114,042 | €277,333 | €219,979 | ▼ 20.7% |
| Investment in fixed assets (approximation) | - | -€24,946 | -€81,094 | -€63,845 | -€80,235 | ▼ 25.7% |
| Change in cash | - | -€20,727 | -€47,958 | €37,119 | -€14,935 | ▼ 140% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Highest result since 2018net €258,946 ▲159%
Operating result €276,255, net result €258,946, both a record.
22-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 114 days late
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 198 days late
2022
28-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 150 days late
2021
31-12
Financial
Back to profitnet €53,063
Net result €53,063 after one loss-making year.
31-12
Financial
Equity above €1mEq €1.6m ▲216%
Equity rises from €504,814 to €1.6m.
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 152 days late
2020
31-12
Financial
Liquidity quadruplescurrent ratio 3.14
Current ratio from 0.73 to 3.14; short-term debt falls from €203,026 to €49,833.
04-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 65 days late
2019
31-12
Financial
Back to profitnet €54,148
Net result €54,148 after one loss-making year.
Show earlier events
31-12
Financial
Equity above €500,000Eq €552,355 ▲10.9%
Equity rises from €498,207 to €552,355.
03-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 125 days late
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
13 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ottignies-Louvain-la-Neuve · 1 establishment unit since 2001
Ground area
4,152 m²
Building footprint
224 m²
Volume, LiDAR
224 m³
2 parcels, Wallonia · tallest building 5.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
KINEO FITNESS & WELLNESS
since 20012.083.014.820
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92039B0015/00D000 | Wallonia | 3,539 m² | 1 · 71 m² | 5.3 m · 1 fl. |
| 25056A0338/00E000 | Wallonia | 613 m² | 1 · 153 m² | - |
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.
Structure & network
Owners and holdings
2 owners · 2 holdingsChain of control
Highest known parent: MAVIROBA. The sources do not say who stands above it.
Owners 2
- IMOSTIparentSourceaccounts IMOSTI 202570%
-
10%
Holdings 2
-
99.93%
-
16.67%
According to the 2025 annual accounts of WALFORM and those 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
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteNamur2.083.014.820
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Of 1,520 companies in sector 93130 we hold annual accounts for 689. 173 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded28-07-1997
Fiscal year end31-12
Activities, NACEBEL 2025
93130Fitness centres
E-invoicing
Reachable via Peppol
Peppol ID
0208:0461216687
Registered
31-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.