WALMAGH P.
ActiveSummary
WALMAGH P. has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69,020 and a net result of €7,183. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 80% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+79
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 3.77 against 3.59 in 2024; short-term debt: 25% and cash: 52.1% of total assets), and 25% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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
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
75%
Return on assets
7.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
14 d early
2023
29 d late
2022
18 d late
2021
29 d late
2020
1 d early
2019
24 d early
← 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 2 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. Usually files around 18 August (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€69,020▲ 11.6%
2024 · €61,836
Total assets
€91,977▲ 12.5%
2024 · €81,792
Net result
€7,183
2024 · -€13,576
Working capital
€63,680▲ 23.1%
2024 · €51,750
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€8,446▼ 70.7%€1,836▼ 78.3%€2,604▲ 41.9%-€14,103€6,401
Net result€8,183within the sector's middle half▼ 67.3%€1,492within the sector's middle half▼ 81.8%€2,247within the sector's middle half▲ 50.6%-€13,576below the sector's middle half€7,183within the sector's middle half
Equity€71,673within the sector's middle half▲ 8.2%€73,165within the sector's middle half▲ 2.1%€75,412within the sector's middle half▲ 3.1%€61,836within the sector's middle half▼ 18.0%€69,020within the sector's middle half▲ 11.6%
Total assets€131,188within the sector's middle half▼ 6.2%€116,926within the sector's middle half▼ 10.9%€113,334within the sector's middle half▼ 3.1%€81,792within the sector's middle half▼ 27.8%€91,977within the sector's middle half▲ 12.5%
Debt€59,515▼ 19.1%€43,762▼ 26.5%€37,922▼ 13.3%€19,955▼ 47.4%€22,957▲ 15.0%
Working capital€64,189within the sector's middle half▲ 9.9%€64,953within the sector's middle half▲ 1.2%€66,430within the sector's middle half▲ 2.3%€51,750within the sector's middle half▼ 22.1%€63,680within the sector's middle half▲ 23.1%
Solvency54.6%within the sector's middle half▲ 7.3pp62.6%within the sector's middle half▲ 7.9pp66.5%within the sector's middle half▲ 4.0pp75.6%above the sector's middle half▲ 9.1pp75.0%above the sector's middle half▼ 0.6pp
Current ratio2.86within the sector's middle half▲ 0.423.41above the sector's middle half▲ 0.553.25above the sector's middle half▼ 0.153.59above the sector's middle half▲ 0.343.77above the sector's middle half▲ 0.18
Return on assets (ROA)6.2%within the sector's middle half▼ 11.6pp1.3%within the sector's middle half▼ 5.0pp2.0%within the sector's middle half▲ 0.7pp-16.6%below the sector's middle half▼ 18.6pp7.8%within the sector's middle half▲ 24.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6,401 after a loss of €14,103 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €91,977
Fixed assets
€5,340 ▼ 47.1%
Current assets
€86,637 ▲ 20.8%
Equity and liabilities €91,977
Equity
€69,020 ▲ 11.6%
Debt
€22,957 ▲ 15.0%
Debt's share of the balance-sheet total rises from 24.4% to 25.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€15,168▲
2024 · -€5,345
Cash flow
€15,951▲
2024 · -€4,818
Debt to equity
0.33▲
2024 · 0.32
ROE
10.4%▲
2024 · -22.0%
Interest coverage
40.09▲
2024 · -9.85
Debt ≤ 1 year
€22,957▲
2024 · €19,955
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 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 higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 31,349 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €303 | €1,624 | €1,325 | - | €316 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,385 | €8,595 | €8,551 | €8,758 | €8,767 | ▲ 0.1% |
| Other operating charges640/8 | €248 | €799 | €298 | €298 | €149 | ▼ 50.0% |
| Non-recurring operating charges66A | €435 | €1,067 | €718 | €787 | €588 | ▼ 25.3% |
| Gross operating margin9900 | €17,514 | €12,296 | €12,171 | -€4,260 | €15,905 | ▲ 473% |
| Operating profit (loss)9901 | €8,446 | €1,836 | €2,604 | -€14,103 | €6,401 | ▲ 145% |
| Financial income75/76B | €1,878 | €1,389 | €1,581 | €1,069 | €1,161 | ▲ 8.5% |
| Recurring financial income75 | €1,878 | €1,389 | €1,581 | €1,069 | €1,161 | ▲ 8.5% |
| Financial charges65/66B | €858 | €677 | €557 | €543 | €378 | ▼ 30.3% |
| Recurring financial charges65 | €858 | €677 | €557 | €543 | €378 | ▼ 30.3% |
| Profit (loss) for the period before taxes9903 | €9,465 | €2,547 | €3,629 | -€13,576 | €7,183 | ▲ 153% |
| Income taxes67/77 | €1,282 | €1,056 | €1,382 | - | - | - |
| Profit (loss) for the period9904 | €8,183 | €1,492 | €2,247 | -€13,576 | €7,183 | ▲ 153% |
| Profit (loss) for the period to be appropriated9905 | €8,183 | €1,492 | €2,247 | -€13,576 | €7,183 | ▲ 153% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €131,188 | €116,926 | €113,334 | €81,792 | €91,977 | ▲ 12.5% |
| Fixed assets21/28 | €32,416 | €24,981 | €17,442 | €10,086 | €5,340 | ▼ 47.1% |
| Tangible fixed assets22/27 | €32,416 | €24,981 | €17,442 | €10,086 | €5,340 | ▼ 47.1% |
| Plant, machinery and equipment23 | - | €954 | €1,580 | €2,389 | €2,705 | ▲ 13.2% |
| Furniture and vehicles24 | €32,416 | €24,027 | €15,862 | €7,697 | €2,635 | ▼ 65.8% |
| Current assets29/58 | €98,772 | €91,945 | €95,891 | €71,706 | €86,637 | ▲ 20.8% |
| Amounts receivable within one year40/41 | €20,893 | €41,354 | €53,833 | €36,675 | €34,624 | ▼ 5.6% |
| Trade receivables40 | €16,326 | €37,204 | €47,184 | €33,327 | €31,182 | ▼ 6.4% |
| Other amounts receivable41 | €4,567 | €4,150 | €6,650 | €3,348 | €3,442 | ▲ 2.8% |
| Cash at bank and in hand54/58 | €74,501 | €47,906 | €39,304 | €31,297 | €47,949 | ▲ 53.2% |
| Deferred charges and accrued income490/1 | €3,378 | €2,685 | €2,754 | €3,734 | €4,065 | ▲ 8.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €131,188 | €116,926 | €113,334 | €81,792 | €91,977 | ▲ 12.5% |
| Equity10/15 | €71,673 | €73,165 | €75,412 | €61,836 | €69,020 | ▲ 11.6% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €633 | €633 | €633 | €633 | €633 | = |
| Non-distributable reserves130/1 | €633 | €633 | €633 | €633 | €633 | = |
| Reserves not available under the articles1311 | €633 | €633 | €633 | €633 | €633 | = |
| Profit (loss) carried forward14 | -€3,960 | -€2,468 | -€221 | -€13,797 | -€6,614 | ▲ 52.1% |
| Amounts payable17/49 | €59,515 | €43,762 | €37,922 | €19,955 | €22,957 | ▲ 15.0% |
| Amounts payable after more than one year17 | €24,932 | €16,770 | €8,460 | - | - | - |
| Financial debts170/4 | €24,932 | €16,770 | €8,460 | - | - | - |
| Amounts payable within one year42/48 | €34,583 | €26,992 | €29,462 | €19,955 | €22,957 | ▲ 15.0% |
| Current portion of amounts payable after more than one year42 | €8,018 | €8,163 | €8,310 | €8,460 | - | - |
| Trade debts44 | €17,586 | €9,468 | €9,357 | €6,035 | €9,389 | ▲ 55.6% |
| Suppliers440/4 | €17,586 | €9,468 | €9,357 | €6,035 | €9,389 | ▲ 55.6% |
| Taxes, remuneration and social security45 | €7,001 | €9,361 | €11,795 | €5,461 | €13,569 | ▲ 148% |
| Taxes450/3 | €6,602 | €9,361 | €11,684 | €1,333 | €9,069 | ▲ 580% |
| Remuneration and social security454/9 | €400 | - | €111 | €4,127 | €4,500 | ▲ 9.0% |
| Other amounts payable47/48 | €1,978 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,183 | €1,492 | €2,247 | -€13,576 | €7,183 | ▲ 153% |
| + Depreciation and write-downs630 | €8,385 | €8,595 | €8,551 | €8,758 | €8,767 | ▲ 0.1% |
| Operating cash flow (approximation) | €16,568 | €10,087 | €10,798 | -€4,818 | €15,951 | ▲ 431% |
| Investment in fixed assets (approximation) | - | -€1,160 | -€1,012 | -€1,402 | -€4,021 | ▼ 187% |
| Change in cash | - | -€26,595 | -€8,602 | -€8,007 | €16,652 | ▲ 308% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €7,183
Net result €7,183 after one loss-making year.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€13,576
Net result drops to -€13,576, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €25,000 ▲233%
Operating result €28,786, net result €25,000, both a record.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €7,500
Net result €7,500 after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 10 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Chaudfontaine · 1 establishment unit since 2000
Ground area
605 m²
Building footprint
77 m²
Volume, LiDAR
396 m³
Parcel 62104A0177/00Y000, Wallonia · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Au Gros Thier 24, 4051 Chaudfontaine
since 20002.094.926.321
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62104A0177/00Y000 | Wallonia | 604 m² | 1 · 77 m² | 6.2 m · 2 fl. |
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 9,537 companies in sector 43222 we hold annual accounts for 5,668. 4,774 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 (pre-2019)
Founded26-04-2000
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471761676
Also
9925:BE0471761676
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.