WALHALLA
ActiveSummary
WALHALLA has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €308,665 and a net result of -€37,913. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 22% of 36377 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability16▼-16
Solvency45▼-14
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 10.06 against 0.9 in 2023; short-term debt: 4% and cash: 0.3% of total assets), but 79.5% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
20.5%
Return on assets
-2.5%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€37,913
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 36377 sector peers (2024).
NBB · sector comparisonPosition among 36377 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
8 d early
2022
4 d early
2021
39 d early
2020
1 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average on the deadline day; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#5 company by total assets in Denderleeuw, Construction sector
Equity
€308,665▼ 10.9%
2023 · €346,578
Total assets
€1.5m▲ 48.6%
2023 · €1.0m
Net result
-€37,913▼ 84.9%
2023 · -€20,510
Working capital
€552,019
2023 · -€15,397
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€5,184▲ 46.4%€44,455€4,530▼ 89.8%-€10,303-€40,387▼ 292%
Net result-€15,415▲ 1.0%€36,276-€2,915-€20,510▼ 603%-€37,913▼ 84.9%
Equity€333,728▼ 4.4%€370,004▲ 10.9%€367,088▼ 0.8%€346,578▼ 5.6%€308,665▼ 10.9%
Total assets€927,619▲ 3.5%€883,762▼ 4.7%€988,901▲ 11.9%€1.0m▲ 2.4%€1.5m▲ 48.6%
Debt€544,788▲ 10.2%€466,240▼ 14.4%€575,956▲ 23.5%€622,643▲ 8.1%€1.2m▲ 86.6%
Working capital€43,360▲ 7.0%€23,989▼ 44.7%-€97,313-€15,397▲ 84.2%€552,019
Staff (FTE)1▲ 233%0.20.2=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €40,387 in 2024 against €10,303 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.5m
Fixed assets
€892,763 ▲ 2.1%
Current assets
€612,942 ▲ 343%
Equity and liabilities €1.5m
Equity
€308,665 ▼ 10.9%
Provisions
€35,315 ▼ 19.3%
Debt
€1.2m ▲ 86.6%
Debt's share of the balance-sheet total rises from 61.5% to 77.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€7,140▼
2023 · €23,364
Cash flow
-€4,666▼
2023 · €13,157
Current ratio
10.06▲
2023 · 0.90
Quick ratio
1.03▲
2023 · 0.28
Debt to equity
3.76▲
2023 · 1.80
ROE
-12.3%▼
2023 · -5.9%
ROA
-2.5%▼
2023 · -2.0%
Interest coverage
-1.17▼
2023 · 1.90
Debt ≤ 1 year
€60,924▼
2023 · €153,821
Debt > 1 year
€1.1m▲
2023 · €468,822
Staff costs
€10,260▲
2023 · €5,322
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €11,535 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €915 | - | €5,322 | €10,260 | ▲ 92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,687 | €28,621 | €29,343 | €33,668 | €33,247 | ▼ 1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €9,278 | - | - | - | - |
| Other operating charges640/8 | - | €3,288 | €2,906 | €10,838 | €1,454 | ▼ 86.6% |
| Non-recurring operating charges66A | - | €53 | €62 | - | - | - |
| Gross operating margin9900 | €49,732 | €86,610 | €36,842 | €39,525 | €4,574 | ▼ 88.4% |
| Operating profit (loss)9901 | -€5,184 | €44,455 | €4,530 | -€10,303 | -€40,387 | ▼ 292% |
| Financial income75/76B | - | - | €3 | €4 | €123 | ▲ 3,023% |
| Recurring financial income75 | - | - | €3 | €4 | €123 | ▲ 3,023% |
| Financial charges65/66B | - | €9,198 | €9,035 | €12,324 | €6,077 | ▼ 50.7% |
| Recurring financial charges65 | €13,727 | €9,198 | €9,035 | €12,324 | €6,077 | ▼ 50.7% |
| Profit (loss) for the period before taxes9903 | -€18,911 | €35,257 | -€4,502 | -€22,623 | -€46,341 | ▼ 105% |
| Transfer from deferred taxes780 | - | €1,584 | €1,662 | €2,113 | €8,428 | ▲ 299% |
| Income taxes67/77 | - | €566 | €75 | - | - | - |
| Profit (loss) for the period9904 | -€15,415 | €36,276 | -€2,915 | -€20,510 | -€37,913 | ▼ 84.9% |
| Transfer from tax-exempt reserves789 | - | €3,771 | €3,956 | €5,030 | €20,065 | ▲ 299% |
| Profit (loss) for the period to be appropriated9905 | -€4,926 | €40,047 | €1,040 | -€15,480 | -€17,848 | ▼ 15.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €927,619 | €883,762 | €988,901 | €1.0m | €1.5m | ▲ 48.6% |
| Fixed assets21/28 | €819,064 | €805,366 | €901,023 | €874,542 | €892,763 | ▲ 2.1% |
| Tangible fixed assets22/27 | €654,064 | €640,366 | €736,023 | €709,542 | €727,763 | ▲ 2.6% |
| Land and buildings22 | - | €638,664 | €735,158 | €709,542 | €727,763 | ▲ 2.6% |
| Plant, machinery and equipment23 | - | €1,702 | €865 | - | - | - |
| Financial fixed assets28 | €165,000 | €165,000 | €165,000 | €165,000 | €165,000 | = |
| Current assets29/58 | €108,554 | €78,396 | €87,878 | €138,423 | €612,942 | ▲ 343% |
| Stocks and contracts in progress3 | €73,110 | €57,714 | €63,690 | €95,872 | €550,063 | ▲ 474% |
| Stocks30/36 | - | €57,714 | €63,690 | €95,872 | €550,063 | ▲ 474% |
| Amounts receivable within one year40/41 | €28,250 | €18,188 | €21,442 | €26,309 | €28,081 | ▲ 6.7% |
| Trade receivables40 | - | €7,340 | €5,920 | €6,756 | €6,645 | ▼ 1.6% |
| Other amounts receivable41 | - | €10,848 | €15,522 | €19,553 | €21,436 | ▲ 9.6% |
| Cash at bank and in hand54/58 | €6,013 | €2,494 | €2,746 | €15,001 | €3,773 | ▼ 74.8% |
| Deferred charges and accrued income490/1 | - | - | - | €1,242 | €31,025 | ▲ 2,399% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €927,619 | €883,762 | €988,901 | €1.0m | €1.5m | ▲ 48.6% |
| Equity10/15 | €333,728 | €370,004 | €367,088 | €346,578 | €308,665 | ▼ 10.9% |
| Contributions10/11 | - | €255,000 | €255,000 | €255,000 | €255,000 | = |
| Reserves13 | €115,280 | €111,509 | €107,553 | €102,522 | €82,457 | ▼ 19.6% |
| Non-distributable reserves130/1 | - | €320 | €320 | €320 | €320 | = |
| Reserves not available under the articles1311 | - | €320 | €320 | €320 | €320 | = |
| Tax-exempt reserves132 | - | €110,960 | €107,004 | €101,974 | €81,909 | ▼ 19.7% |
| Distributable reserves133 | - | €228 | €228 | €228 | €228 | = |
| Profit (loss) carried forward14 | -€36,551 | €3,495 | €4,536 | -€10,944 | -€28,792 | ▼ 163% |
| Provisions and deferred taxes16 | €49,102 | €47,518 | €45,857 | €43,744 | €35,315 | ▼ 19.3% |
| Deferred taxes168 | - | €47,518 | €45,857 | €43,744 | €35,315 | ▼ 19.3% |
| Amounts payable17/49 | €544,788 | €466,240 | €575,956 | €622,643 | €1.2m | ▲ 86.6% |
| Amounts payable after more than one year17 | €479,594 | €411,833 | €390,765 | €468,822 | €1.1m | ▲ 135% |
| Financial debts170/4 | - | €407,317 | €390,765 | €386,898 | €379,173 | ▼ 2.0% |
| Trade debts175 | - | €4,516 | - | €81,924 | €721,629 | ▲ 781% |
| Amounts payable within one year42/48 | €65,194 | €54,407 | €185,191 | €153,821 | €60,924 | ▼ 60.4% |
| Current portion of amounts payable after more than one year42 | - | €52,938 | €52,068 | €48,867 | €46,775 | ▼ 4.3% |
| Trade debts44 | €16,701 | €245 | €133,062 | €103,562 | €6,665 | ▼ 93.6% |
| Suppliers440/4 | - | €245 | €133,062 | €103,562 | €6,665 | ▼ 93.6% |
| Taxes, remuneration and social security45 | - | €16 | €47 | €539 | €6,982 | ▲ 1,196% |
| Taxes450/3 | - | €16 | €47 | €427 | €6,982 | ▲ 1,537% |
| Remuneration and social security454/9 | - | - | - | €112 | - | - |
| Other amounts payable47/48 | - | €1,208 | €15 | €853 | €501 | ▼ 41.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,415 | €36,276 | -€2,915 | -€20,510 | -€37,913 | ▼ 84.9% |
| + Depreciation and write-downs630 | €26,687 | €28,621 | €29,343 | €33,668 | €33,247 | ▼ 1.2% |
| Operating cash flow (approximation) | €11,272 | €64,896 | €26,427 | €13,157 | -€4,666 | ▼ 135% |
| Investment in fixed assets (approximation) | - | -€14,922 | -€125,000 | -€7,186 | -€51,469 | ▼ 616% |
| Change in cash | - | -€3,518 | €252 | €12,255 | -€11,228 | ▼ 192% |
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
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Weakest financial yearnet -€37,913
Net result drops to -€37,913, the lowest in the series.
31-12
Financial
Liquidity times 11current ratio 10.06
Current ratio from 0.90 to 10.06; short-term debt falls from €153,821 to €60,924.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €36,276
Net result €36,276 after 2 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
27-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Denderleeuw · 1 establishment unit since 1997
Ground area
578 m²
Building footprint
434 m²
Volume, LiDAR
331 m³
Parcel 41030A0805/00N002, Flanders · tallest building 5.1 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Parochiestraat 101, 9472 Denderleeuw
since 19972.082.040.761
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41030A0805/00N002 | Flanders | 578 m² | 1 · 434 m² | 5.0 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,667. 4,521 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-05-1997
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Scores and ratios are computed by Checked and are not a credit decision.