WAPAFRI
ActiveSummary
WAPAFRI has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €180,853 and a net result of €42,593. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 87% of 18716 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability92▼-6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 7.91 against 11.67 in 2024; short-term debt: 10.1% and cash: 67.5% of total assets), and 20.2% of the assets are financed with debt.
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Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
79.8%
Return on assets
18.8%
Age of the figures
9 mo
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
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
60 d late
2023
61 d late
2022
32 d early
2021
27 d late
2020
61 d late
2019
61 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 38 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 31 August (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€180,853▲ 15.0%
2024 · €157,260
Total assets
€226,565▲ 32.1%
2024 · €171,458
Net result
€42,593▲ 4.9%
2024 · €40,605
Working capital
€157,527▲ 4.0%
2024 · €151,442
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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€13,949▲ 7.1%€41,881▲ 200%€47,873▲ 14.3%€59,222▲ 23.7%€61,491▲ 3.8%
Net result€9,757within the sector's middle half▼ 14.8%€28,369above the sector's middle half▲ 191%€32,583above the sector's middle half▲ 14.9%€40,605above the sector's middle half▲ 24.6%€42,593above the sector's middle half▲ 4.9%
Equity€118,705above the sector's middle half▼ 16.7%€122,073above the sector's middle half▲ 2.8%€136,656above the sector's middle half▲ 11.9%€157,260above the sector's middle half▲ 15.1%€180,853above the sector's middle half▲ 15.0%
Total assets€157,409within the sector's middle half▲ 2.8%€159,874within the sector's middle half▲ 1.6%€155,338within the sector's middle half▼ 2.8%€171,458within the sector's middle half▲ 10.4%€226,565within the sector's middle half▲ 32.1%
Debt€38,704▲ 264%€37,800▼ 2.3%€18,682▼ 50.6%€14,198▼ 24.0%€45,712▲ 222%
Working capital€109,923above the sector's middle half▼ 11.9%€119,066above the sector's middle half▲ 8.3%€128,660above the sector's middle half▲ 8.1%€151,442above the sector's middle half▲ 17.7%€157,527above the sector's middle half▲ 4.0%
Solvency75.4%above the sector's middle half▼ 17.6pp76.4%above the sector's middle half▲ 0.9pp88.0%above the sector's middle half▲ 11.6pp91.7%above the sector's middle half▲ 3.7pp79.8%above the sector's middle half▼ 11.9pp
Current ratio3.84above the sector's middle half▼ 8.944.15above the sector's middle half▲ 0.317.89above the sector's middle half▲ 3.7411.67above the sector's middle half▲ 3.787.91above the sector's middle half▼ 3.76
Return on assets (ROA)6.2%within the sector's middle half▼ 1.3pp17.7%above the sector's middle half▲ 11.5pp21.0%above the sector's middle half▲ 3.2pp23.7%above the sector's middle half▲ 2.7pp18.8%above the sector's middle half▼ 4.9pp
Staff (FTE)1.91.2▼ 36.8%1.5▲ 25.0%1.4▼ 6.7%1.4=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 has risen four years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €226,565
Fixed assets
€46,241 ▲ 695%
Current assets
€180,324 ▲ 8.9%
Equity and liabilities €226,565
Equity
€180,853 ▲ 15.0%
Debt
€45,712 ▲ 222%
Debt's share of the balance-sheet total rises from 8.3% to 20.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€66,219▲
2024 · €61,399
Cash flow
€47,320▲
2024 · €42,782
Quick ratio
7.73▼
2024 · 11.49
Debt to equity
0.25▲
2024 · 0.09
ROE
23.6%▼
2024 · 25.8%
Interest coverage
114.35▼
2024 · 227.64
Debt ≤ 1 year
€22,797▲
2024 · €14,198
Debt > 1 year
€22,914
Income taxes
€19,175▼
2024 · €19,746
Staff costs
€43,437▲
2024 · €33,799
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 34,696 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 | - | - | - | - | €620 | - |
| Remuneration, social security and pensions62 | €30,953 | €23,082 | €32,632 | €33,799 | €43,437 | ▲ 28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,158 | €5,775 | €1,631 | €2,178 | €4,727 | ▲ 117% |
| Other operating charges640/8 | €513 | €540 | €964 | €539 | €593 | ▲ 10.2% |
| Gross operating margin9900 | €58,574 | €71,277 | €83,100 | €95,737 | €110,249 | ▲ 15.2% |
| Operating profit (loss)9901 | €13,949 | €41,881 | €47,873 | €59,222 | €61,491 | ▲ 3.8% |
| Financial income75/76B | €0 | €106 | €1,007 | €1,399 | €855 | ▼ 38.9% |
| Recurring financial income75 | €0 | €106 | €1,007 | €1,399 | €855 | ▼ 38.9% |
| Financial charges65/66B | €134 | €145 | €601 | €270 | €579 | ▲ 115% |
| Recurring financial charges65 | €134 | €145 | €601 | €270 | €579 | ▲ 115% |
| Profit (loss) for the period before taxes9903 | €13,815 | €41,842 | €48,280 | €60,351 | €61,767 | ▲ 2.3% |
| Income taxes67/77 | €4,058 | €13,473 | €15,698 | €19,746 | €19,175 | ▼ 2.9% |
| Profit (loss) for the period9904 | €9,757 | €28,369 | €32,583 | €40,605 | €42,593 | ▲ 4.9% |
| Profit (loss) for the period to be appropriated9905 | €9,757 | €28,369 | €32,583 | €40,605 | €42,593 | ▲ 4.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €157,409 | €159,874 | €155,338 | €171,458 | €226,565 | ▲ 32.1% |
| Fixed assets21/28 | €8,782 | €3,007 | €7,996 | €5,818 | €46,241 | ▲ 695% |
| Intangible fixed assets21 | €3,333 | - | - | - | - | - |
| Tangible fixed assets22/27 | €5,449 | €3,007 | €7,996 | €5,818 | €46,241 | ▲ 695% |
| Plant, machinery and equipment23 | €5,449 | €3,007 | €7,996 | €5,818 | €7,420 | ▲ 27.5% |
| Furniture and vehicles24 | - | - | - | - | €38,821 | - |
| Current assets29/58 | €148,627 | €156,867 | €147,342 | €165,640 | €180,324 | ▲ 8.9% |
| Stocks and contracts in progress3 | €3,815 | €5,925 | €1,993 | €2,575 | €4,202 | ▲ 63.2% |
| Stocks30/36 | €3,815 | €5,925 | €1,993 | €2,575 | €4,202 | ▲ 63.2% |
| Amounts receivable within one year40/41 | €23,307 | €22,476 | €27,922 | €7,383 | €2,361 | ▼ 68.0% |
| Trade receivables40 | €769 | €449 | €568 | €1,191 | €1,287 | ▲ 8.0% |
| Other amounts receivable41 | €22,538 | €22,027 | €27,354 | €6,191 | €1,074 | ▼ 82.7% |
| Current investments50/53 | - | - | €20,000 | €20,000 | €20,000 | = |
| Cash at bank and in hand54/58 | €121,329 | €128,297 | €97,038 | €134,741 | €153,037 | ▲ 13.6% |
| Deferred charges and accrued income490/1 | €175 | €168 | €389 | €942 | €725 | ▼ 23.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €157,409 | €159,874 | €155,338 | €171,458 | €226,565 | ▲ 32.1% |
| Equity10/15 | €118,705 | €122,073 | €136,656 | €157,260 | €180,853 | ▲ 15.0% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €104,610 | €107,610 | €121,610 | €141,610 | €164,610 | ▲ 16.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €102,750 | €105,750 | €119,750 | €139,750 | €162,750 | ▲ 16.5% |
| Profit (loss) carried forward14 | €1,695 | €2,063 | €2,646 | €3,250 | €3,843 | ▲ 18.2% |
| Amounts payable17/49 | €38,704 | €37,800 | €18,682 | €14,198 | €45,712 | ▲ 222% |
| Amounts payable after more than one year17 | - | - | - | - | €22,914 | - |
| Financial debts170/4 | - | - | - | - | €22,914 | - |
| Amounts payable within one year42/48 | €38,704 | €37,800 | €18,682 | €14,198 | €22,797 | ▲ 60.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €5,690 | - |
| Trade debts44 | €1,375 | €5,185 | €6,399 | €550 | €1,570 | ▲ 186% |
| Suppliers440/4 | €1,375 | €5,185 | €6,399 | €550 | €1,570 | ▲ 186% |
| Taxes, remuneration and social security45 | €5,505 | €8,865 | €12,283 | €13,648 | €15,402 | ▲ 12.9% |
| Taxes450/3 | €3,340 | €5,155 | €10,862 | €12,054 | €10,693 | ▼ 11.3% |
| Remuneration and social security454/9 | €2,165 | €3,710 | €1,421 | €1,594 | €4,708 | ▲ 195% |
| Other amounts payable47/48 | €31,825 | €23,750 | - | - | €136 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,757 | €28,369 | €32,583 | €40,605 | €42,593 | ▲ 4.9% |
| + Depreciation and write-downs630 | €13,158 | €5,775 | €1,631 | €2,178 | €4,727 | ▲ 117% |
| Operating cash flow (approximation) | €22,915 | €34,144 | €34,214 | €42,782 | €47,320 | ▲ 10.6% |
| Investment in fixed assets (approximation) | - | €0 | -€6,620 | €0 | -€45,150 | - |
| Change in cash | - | €6,968 | -€31,259 | €37,702 | €18,296 | ▼ 51.5% |
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 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €42,593 ▲4.9%
Operating result €61,491, net result €42,593, both a record.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Equity above €150,000Eq €157,260 ▲15.1%
7 profitable years in a row build equity to €157,260.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 27 days late
2021
31-12
Financial
Weakest financial yearnet €9,757 ▼14.8%
Net result drops to €9,757, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 6.98
Current ratio from 3.02 to 6.98; short-term debt falls from €39,895 to €18,702.
10-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 41 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 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, Torhout · 1 establishment unit since 2012
Ground area
135 m²
Building footprint
79 m²
Volume, LiDAR
503 m³
Parcel 31033A0658/02S000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Aartrijkestraat 204, 8820 Torhout
since 20122.210.294.755
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31033A0658/02S000 | Flanders | 135 m² | 1 · 79 m² | 8.7 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteTorhout2.210.294.755
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Of 3,823 companies in sector 47210 we hold annual accounts for 965. 722 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
Founded31-05-2012
Fiscal year end31-12
Activities, NACEBEL 2025
47210Retail sale of fruit and vegetables
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0846272540
Also
9925:BE0846272540
Registered
25-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.