WALTH
ActiveThe annual accounts of WALTH for fiscal year 2025 show a net loss of 83% of the equity at the start of that year. The 2025 annual accounts show equity of €4.13M and a net result of €-641k. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 29% of 4852 sector peers (fiscal year 2025). The company has been active since 1936 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability9▲+9
Solvency52▲+18
Growth68▲+13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.03 against 0.04 in 2024; short-term debt: 70.4% of total assets), and 73.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
26.6%
Return on assets
-4.1%
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
23 d early
2023
27 d early
2022
19 d early
2021
8 d late
2020
2 d late
2019
57 d early
← before the deadline
after the deadline →
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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.45M▲ 33.9%
2024 · €1.83M
2020: €799k
2021: €1.20M
2022: €1.44M
2023: €1.25M
2024: €1.83M
2020 → 2025
EBIT margin
-21.9%▲ 34.8pp
2024 · -56.6%
2020: 1.1%
2021: 10.8%
2022: 4.3%
2023: -60.2%
2024: -56.6%
2020 → 2025
Net result
€-641k▲ 59.8%
2024 · €-1.60M
2018: €21k
2019: €-23k
2020: €8k
2021: €52k
2022: €-5k
2023: €-847k
2024: €-1.60M
2018 → 2025
Working capital
€-10.59M▼ 57.0%
2024 · €-6.75M
2018: €1.93M
2019: €955k
2020: €-1.43M
2021: €-2.69M
2022: €-3.06M
2023: €-5.63M
2024: €-6.75M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.20M-€1.44M▲ 19.8%€1.25M▼ 13.1%€1.83M▲ 46.4%€2.45M▲ 33.9%
Equity€3.22M-€3.22M▼ 0.2%€2.37M▼ 26.3%€774k▼ 67.3%€4.13M▲ 434%
Operating result€129k-€62k▼ 52.1%€-753k€-1.04M▼ 37.8%€-536k▲ 48.3%
Net result€52k-€-5k€-847k▼ 17,307%€-1.60M▼ 88.3%€-641k▲ 59.8%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €536k in 2025 against €1.04M in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.54M
Fixed assets
€15.19M▲ 83.0%
Current assets
€349k▲ 18.9%
Equity and liabilities €15.54M
Equity
€4.13M▲ 434%
Debt
€11.41M▲ 45.9%
The debt ratio falls from 91.0% to 73.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€-140k▲
2024 · €-658k
Cash flow
€-245k▲
2024 · €-1.22M
Solvency
26.6%▲
2024 · 9.0%
Current ratio
0.03▼
2024 · 0.04
Quick ratio
0.03▼
2024 · 0.04
Debt / equity
2.76▼
2024 · 10.10
ROE
-15.5%▲
2024 · -206.0%
ROA
-4.1%▲
2024 · -18.6%
Interest coverage
-1.18▲
2024 · -1.84
Debt
€11.41M▲
2024 · €7.82M
Debt ≤ 1 year
€10.94M▲
2024 · €7.04M
Debt > 1 year
€356k▼
2024 · €440k
Income taxes
€714▼
2024 · €1k
Staff costs
€832k▼
2024 · €904k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€8.59M€15.54M▲
Fixed assets21/28€8.30M€15.19M▲
Intangible fixed assets21€1.49M€1.37M▼
Tangible fixed assets22/27€1.60M€1.40M▼
Plant, machinery and equipment23€1.02M€852k▼
Furniture and vehicles24€14k€10k▼
Other tangible fixed assets26€568k€540k▼
Financial fixed assets28€5.21M€12.42M▲
Affiliated companies280/1€5.21M€12.42M▲
Participating interests280€5.21M€12.42M▲
Current assets29/58€293k€349k▲
Stocks and contracts in progress3€23k€25k▲
Stocks30/36€23k€25k▲
Goods purchased for resale34€23k€25k▲
Amounts receivable within one year40/41€244k€225k▼
Trade receivables40€236k€186k▼
Other amounts receivable41€9k€38k▲
Cash at bank and in hand54/58€26k-
Deferred charges and accrued income490/1-€99k
Equity and liabilities
Total equity and liabilities10/49€8.59M€15.54M▲
Equity10/15€774k€4.13M▲
Contributions10/11€3.00M€7.00M▲
Capital10€3.00M€7.00M▲
Issued capital100€3.00M€7.00M▲
Reserves13€217k€217k=
Non-distributable reserves130/1€90k€90k=
Legal reserve130€90k€90k=
Tax-exempt reserves132€27k€27k=
Distributable reserves133€100k€100k=
Profit (loss) carried forward14€-2.44M€-3.08M▼
Amounts payable17/49€7.82M€11.41M▲
Amounts payable after more than one year17€440k€356k▼
Financial debts170/4€440k€356k▼
Credit institutions173€440k€356k▼
Amounts payable within one year42/48€7.04M€10.94M▲
Current portion of amounts payable after more than one year42€84k€84k=
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€79k€157k▲
Suppliers440/4€79k€157k▲
Taxes, remuneration and social security45€117k€128k▲
Taxes450/3€33k€19k▼
Remuneration and social security454/9€83k€109k▲
Other amounts payable47/48€6.76M€10.57M▲
Accrued charges and deferred income492/3€340k€110k▼
Income statement
Code20242025
Operating income70/76A€2.02M€2.55M▲
Turnover70€1.83M€2.45M▲
Other operating income74€189k€98k▼
Non-recurring operating income76A-€16
Operating charges60/66A€3.06M€3.09M▲
Goods for resale, raw materials and consumables60€737k€1.11M▲
Purchases600/8€760k€1.11M▲
Change in stocks: decrease (increase)609€-23k€-2k▲
Services and other goods61€1.03M€733k▼
Remuneration, social security and pensions62€904k€832k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€379k€396k▲
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A-€9k
Operating profit (loss)9901€-1.04M€-536k▲
Financial income75/76B€520€14k▲
Recurring financial income75€520€14k▲
Income from current assets751-€14k
Other financial income752/9€520€163▼
Financial charges65/66B€558k€119k▼
Recurring financial charges65€358k€119k▼
Debt charges650€357k€118k▼
Other financial charges652/9€1k€800▼
Non-recurring financial charges66B€200k-
Profit (loss) for the period before taxes9903€-1.59M€-641k▲
Income taxes67/77€1k€714▼
Taxes670/3€1k€714▼
Profit (loss) for the period9904€-1.60M€-641k▲
Profit (loss) for the period to be appropriated9905€-1.60M€-641k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2.44M€-3.08M▼
Profit (loss) brought forward from the previous period14P€-847k€-2.44M▼
Social balance
Average headcount (FTE)908714.313.1▼
The notes to these accounts (71 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor appointment · Permanent representative7 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor appointment · Permanent representative7 facts ▸
- General meeting, 2026-06-24
- Auditor appointment, VGD Bedrijfsrevisoren BV (commissaris)
- Permanent representative, Lindemans Maarten
- Mandate compensation, VGD Bedrijfsrevisoren BV
- Director appointment, GROEP TOM HEEREN (bestuurder)
- Permanent representative, HEEREN Tom
- Mandate compensation, GROEP TOM HEEREN
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €2MEq €4.13M ▲434%
Equity rises from €774k to €4.13M.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-1.60M
Net result drops to €-1.60M, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 8 days late
2021
31-12
Financial
Highest result since 2018net €52k ▲549%
Operating result €129k, net result €52k, both a record.
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 2 days late
2020
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
31-12
Financial
Equity above €2MEq €3.17M ▲232%
Equity rises from €955k to €3.17M.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 5 days late
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
GROEP TOM HEEREN
CurrentDirector · since 01-07-2026 · Legal entity · perm. rep.: HEEREN Tom
01-07-2026
Appointed as Director
Location & real-estate footprint
Registered office, Hasselt · 2 establishment units since 1936
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Genkersteenweg 1953500 HasseltGround area
1.9 ha
Building footprint
9,416 m²
Volume, LiDAR
62,396 m³
3 parcels, Flanders · tallest building 13.7 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
WALTH
since 19362.039.687.096
Walth
since 20232.352.649.183
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71302A0970/00B002 | Flanders | 1.5 ha | 1 · 7,228 m² | 13.7 m · 3 fl. |
| 72402A0518/00W000 | Flanders | 2,213 m² | 1 · 1,051 m² | - |
| 71323C1312/00C000 | Flanders | 1,183 m² | 1 · 1,137 m² | 7.0 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| VGD Bedrijfsrevisoren BVCurrent Statutory auditor · represented by Lindemans Maarten | 24-06-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteBree2.039.687.096
Similar companies · same sector, comparable size
AC Timber Trading
BE 0400.114.805
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ISOBUILD VERVIERS
BE 0402.262.265
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VANLANDSCHOOT HOUT
BE 0475.685.723
Wingene · Eq €4.08M
KRONOSPAN TRADING
BE 0547.851.149
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LABECO
BE 0891.779.297
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Of 857 companies in sector 46832 we hold annual accounts for 588. 345 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-04-1936
Fiscal year end31-12
Activities, NACEBEL
46832Wholesale of timber
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.walth.be
Phone:+3211212219