WAPA
ActiveWAPA has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.23M and a net result of €333k. Equity is growing by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 67% of 7993 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▼-4
Solvency86▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €180k at 30 days acceptable
Liquidity ample (current ratio 3.27 against 5.05 in 2024; short-term debt: 23.1% and cash: 20% of total assets), and 39% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
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
61%
Return on assets
9.1%
Age of the figures
9 mo
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 →
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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
18 d late
2023
12 d early
2022
20 d early
2021
26 d late
2020
16 d late
2019
9 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.23M▼ 9.6%
2024 · €2.47M
2018: €1.16M
2019: €1.24M
2020: €1.30M
2021: €1.45M
2022: €1.81M
2023: €2.11M
2024: €2.47M
2018 → 2025
Total assets
€3.67M▲ 1.1%
2024 · €3.63M
2018: €2.09M
2019: €2.11M
2020: €1.67M
2021: €1.91M
2022: €2.31M
2023: €3.12M
2024: €3.63M
2018 → 2025
Net result
€333k▼ 23.2%
2024 · €433k
2018: €78k
2019: €71k
2020: €67k
2021: €143k
2022: €361k
2023: €304k
2024: €433k
2018 → 2025
Working capital
€1.93M▼ 10.5%
2024 · €2.15M
2018: €1.01M
2019: €1.08M
2020: €1.27M
2021: €1.36M
2022: €1.68M
2023: €1.84M
2024: €2.15M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.45M-€1.81M▲ 25.0%€2.11M▲ 16.8%€2.47M▲ 17.2%€2.23M▼ 9.6%
Operating result€232k-€546k▲ 136%€458k▼ 16.1%€591k▲ 29.0%€458k▼ 22.5%
Net result€143k-€361k▲ 152%€304k▼ 15.7%€433k▲ 42.3%€333k▼ 23.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 22% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.67M
Fixed assets
€890k▼ 5.5%
Current assets
€2.78M▲ 3.4%
Equity and liabilities €3.67M
Equity
€2.23M▼ 9.6%
Debt
€1.43M▲ 24.1%
The debt ratio rises from 31.8% to 39.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€530k▼
2024 · €657k
Cash flow
€405k▼
2024 · €499k
Solvency
61.0%▼
2024 · 68.2%
Current ratio
3.27▼
2024 · 5.05
Quick ratio
1.71▼
2024 · 2.52
Debt / equity
0.64▲
2024 · 0.47
ROE
14.9%▼
2024 · 17.5%
ROA
9.1%▼
2024 · 11.9%
Interest coverage
17.36▼
2024 · 21.60
Debt
€1.43M▲
2024 · €1.15M
Debt ≤ 1 year
€848k▲
2024 · €532k
Debt > 1 year
€581k▼
2024 · €619k
Income taxes
€120k▼
2024 · €148k
Staff costs
€439k▼
2024 · €487k
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€3.63M€3.67M▲
Fixed assets21/28€941k€890k▼
Tangible fixed assets22/27€941k€890k▼
Land and buildings22€736k€722k▼
Plant, machinery and equipment23€21k€14k▼
Furniture and vehicles24€164k€140k▼
Other tangible fixed assets26€19k€13k▼
Current assets29/58€2.69M€2.78M▲
Amounts receivable after more than one year29€400k€400k=
Other amounts receivable291€400k€400k=
Stocks and contracts in progress3€1.35M€1.33M▼
Stocks30/36€1.35M€1.33M▼
Amounts receivable within one year40/41€347k€297k▼
Trade receivables40€227k€194k▼
Other amounts receivable41€120k€104k▼
Cash at bank and in hand54/58€564k€732k▲
Deferred charges and accrued income490/1€26k€21k▼
Equity and liabilities
Total equity and liabilities10/49€3.63M€3.67M▲
Equity10/15€2.47M€2.23M▼
Contributions10/11€750k€750k=
Capital10€750k€750k=
Issued capital100€750k€750k=
Reserves13€1.72M€1.48M▼
Non-distributable reserves130/1€75k€75k=
Legal reserve130€75k€75k=
Tax-exempt reserves132€500€500=
Distributable reserves133€1.65M€1.41M▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.15M€1.43M▲
Amounts payable after more than one year17€619k€581k▼
Financial debts170/4€619k€581k▼
Amounts payable within one year42/48€532k€848k▲
Current portion of amounts payable after more than one year42€40k€41k▲
Trade debts44€252k€81k▼
Suppliers440/4€252k€81k▼
Advances received on contracts in progress46€645€489▼
Taxes, remuneration and social security45€167k€153k▼
Taxes450/3€87k€115k▲
Remuneration and social security454/9€80k€39k▼
Other amounts payable47/48€71k€572k▲
Accrued charges and deferred income492/3€2k€2k▼
Income statement
Code20242025
Non-recurring operating income76A€48k€10k▼
Remuneration, social security and pensions62€487k€439k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€66k€72k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3k€503▼
Other operating charges640/8€33k€38k▲
Gross operating margin9900€1.18M€1.01M▼
Operating profit (loss)9901€591k€458k▼
Financial income75/76B€21k€25k▲
Recurring financial income75€21k€25k▲
Financial charges65/66B€30k€31k▲
Recurring financial charges65€30k€31k▲
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€581k€453k▼
Income taxes67/77€148k€120k▼
Profit (loss) for the period9904€433k€333k▼
Profit (loss) for the period to be appropriated9905€433k€333k▼
Appropriation of the result
Profit (loss) to be appropriated9906€433k€333k▼
Transfer from equity791/2€71k€583k▲
Transfer to equity691/2€433k€345k▼
To the legal reserve6920€4k€12k▲
To other reserves6921€430k€333k▼
Profit to be distributed694/7€71k€572k▲
Return on contributions (dividend)694€71k€572k▲
Social balance
Average headcount (FTE)90877.86.6▼
The notes to these accounts (20 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
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
31-12
Financial
Highest result since 2018net €433k ▲42.3%
Operating result €591k, net result €433k, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €2MEq €2.11M ▲16.8%
6 profitable years in a row build equity to €2.11M.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 16 days late
2020
31-12
Financial
Weakest financial yearnet €67k ▼5.7%
Net result drops to €67k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 5.73
Current ratio from 2.24 to 5.73; short-term debt falls from €875k to €268k.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 8 days late
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Brugge · 1 establishment unit since 1987
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.
Monnikenwerve 37-398000 BruggeGround area
5,157 m²
Building footprint
3,390 m²
Volume, LiDAR
21,850 m³
Parcel 31808K0329/00N000, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
WAPA
since 19872.029.616.815
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31808K0329/00N000 | Flanders | 5,157 m² | 1 · 3,390 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 30,096 EUR awarded · 30,047 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 863 EUR | 863 EUR |
| 2024 | 1 | 12,749 EUR | 12,749 EUR |
| 2023 | 2 | 16,201 EUR | 16,236 EUR |
| 2022 | 1 | 283 EUR | 199 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.029.616.815
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Of 471 companies in sector 46442 we hold annual accounts for 334. 173 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-07-1987
Fiscal year end31-12
Activities, NACEBEL
46442Wholesale trade
46900Non-specialised wholesale trade
51442
51900
47521Retail sale of hardware, building materials, paint and glass (general range)
52461
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.