WAPEI
ActiveSummary
WAPEI has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €206,522 and a net result of €31,240. Equity is growing by ~61.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▼-10
Solvency74▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 2.32 against 7.84 in 2024; short-term debt: 17.2% and cash: 16.9% of total assets), but 50.8% 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
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
49.2%
Return on assets
7.4%
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 26-08-2026, 26 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
26 d late
2024
27 d late
2023
34 d early
2022
41 d early
2021
37 d early
2021
5 d early
2020
16 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 7 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€206,522▲ 11.5%
2024 · €185,281
Total assets
€419,513▲ 15.7%
2024 · €362,562
Net result
€31,240▼ 44.2%
2024 · €55,961
Working capital
€95,387▼ 23.7%
2024 · €124,992
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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€7,077-€49,004▲ 592%€69,112▲ 41.0%€67,151▼ 2.8%€49,899▼ 25.7%
Net result€6,943within the sector's middle half-€48,905within the sector's middle half▲ 604%€58,046within the sector's middle half▲ 18.7%€55,961within the sector's middle half▼ 3.6%€31,240within the sector's middle half▼ 44.2%
Equity€22,369below the sector's middle half-€71,274within the sector's middle half▲ 219%€129,320within the sector's middle half▲ 81.4%€185,281within the sector's middle half▲ 43.3%€206,522within the sector's middle half▲ 11.5%
Total assets€29,896below the sector's middle half-€76,647below the sector's middle half▲ 156%€135,713within the sector's middle half▲ 77.1%€362,562within the sector's middle half▲ 167%€419,513within the sector's middle half▲ 15.7%
Debt€7,527-€5,373▼ 28.6%€6,393▲ 19.0%€177,281▲ 2,673%€212,991▲ 20.1%
Working capital€19,593-€65,867▲ 236%€109,048▲ 65.6%€124,992▲ 14.6%€95,387▼ 23.7%
Solvency74.8%within the sector's middle half-93.0%above the sector's middle half▲ 18.2pp95.3%above the sector's middle half▲ 2.3pp51.1%within the sector's middle half▼ 44.2pp49.2%within the sector's middle half▼ 1.9pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 26% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €419,513
Fixed assets
€252,135 ▲ 15.0%
Current assets
€167,378 ▲ 16.8%
Equity and liabilities €419,513
Equity
€206,522 ▲ 11.5%
Debt
€212,991 ▲ 20.1%
Debt's share of the balance-sheet total rises from 48.9% to 50.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€66,902▼
2024 · €76,056
Cash flow
€48,243▼
2024 · €64,866
Current ratio
2.32▼
2024 · 7.84
Debt to equity
1.03▲
2024 · 0.96
ROE
15.1%▼
2024 · 30.2%
ROA
7.4%▼
2024 · 15.4%
Interest coverage
9.90▼
2024 · 22.85
Debt ≤ 1 year
€71,991▲
2024 · €18,281
Debt > 1 year
€141,000▼
2024 · €159,000
Income taxes
€15,213▲
2024 · €10,707
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% 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
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 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 34,672 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €745 | €1,172 | €3,701 | €8,905 | €17,003 | ▲ 90.9% |
| Other operating charges640/8 | €410 | €8,211 | €7,348 | €7,137 | €4,509 | ▼ 36.8% |
| Gross operating margin9900 | €8,232 | €58,387 | €80,161 | €83,193 | €71,411 | ▼ 14.2% |
| Operating profit (loss)9901 | €7,077 | €49,004 | €69,112 | €67,151 | €49,899 | ▼ 25.7% |
| Financial income75/76B | - | - | €1,158 | €2,846 | €3,309 | ▲ 16.3% |
| Recurring financial income75 | - | - | €1,158 | €2,846 | €3,309 | ▲ 16.3% |
| Financial charges65/66B | €134 | €99 | €2 | €3,329 | €6,755 | ▲ 103% |
| Recurring financial charges65 | €134 | €99 | €2 | €3,329 | €6,755 | ▲ 103% |
| Profit (loss) for the period before taxes9903 | €6,943 | €48,905 | €70,268 | €66,668 | €46,453 | ▼ 30.3% |
| Income taxes67/77 | - | - | €12,222 | €10,707 | €15,213 | ▲ 42.1% |
| Profit (loss) for the period9904 | €6,943 | €48,905 | €58,046 | €55,961 | €31,240 | ▼ 44.2% |
| Profit (loss) for the period to be appropriated9905 | €6,943 | €48,905 | €58,046 | €55,961 | €31,240 | ▼ 44.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €29,896 | €76,647 | €135,713 | €362,562 | €419,513 | ▲ 15.7% |
| Fixed assets21/28 | €2,776 | €5,407 | €20,272 | €219,289 | €252,135 | ▲ 15.0% |
| Tangible fixed assets22/27 | €2,776 | €5,407 | €20,272 | €219,289 | €252,135 | ▲ 15.0% |
| Land and buildings22 | - | - | - | €197,925 | €230,581 | ▲ 16.5% |
| Plant, machinery and equipment23 | €2,776 | €5,407 | €18,737 | €19,634 | €18,528 | ▼ 5.6% |
| Furniture and vehicles24 | - | - | €1,535 | €1,730 | €3,025 | ▲ 74.9% |
| Current assets29/58 | €27,120 | €71,240 | €115,441 | €143,273 | €167,378 | ▲ 16.8% |
| Amounts receivable within one year40/41 | €2,882 | €23,134 | €49,774 | €75,980 | €93,995 | ▲ 23.7% |
| Trade receivables40 | €2,882 | €23,134 | €49,774 | €18,291 | €15,986 | ▼ 12.6% |
| Other amounts receivable41 | - | - | - | €57,689 | €78,009 | ▲ 35.2% |
| Cash at bank and in hand54/58 | €24,238 | €48,106 | €65,667 | €67,293 | €71,100 | ▲ 5.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €2,283 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €29,896 | €76,647 | €135,713 | €362,562 | €419,513 | ▲ 15.7% |
| Equity10/15 | €22,369 | €71,274 | €129,320 | €185,281 | €206,522 | ▲ 11.5% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €33,060 | ▲ 1,677% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €33,060 | ▲ 1,677% |
| Profit (loss) carried forward14 | €8,109 | €57,014 | €115,060 | €171,021 | €161,062 | ▼ 5.8% |
| Amounts payable17/49 | €7,527 | €5,373 | €6,393 | €177,281 | €212,991 | ▲ 20.1% |
| Amounts payable after more than one year17 | - | - | - | €159,000 | €141,000 | ▼ 11.3% |
| Financial debts170/4 | - | - | - | €159,000 | €141,000 | ▼ 11.3% |
| Amounts payable within one year42/48 | €7,527 | €5,373 | €6,393 | €18,281 | €71,991 | ▲ 294% |
| Financial debts43 | - | - | - | €18,000 | €18,000 | = |
| Credit institutions430/8 | - | - | - | €18,000 | €18,000 | = |
| Trade debts44 | €62 | €196 | €1,216 | €105 | €6,758 | ▲ 6,336% |
| Suppliers440/4 | €62 | €196 | €1,216 | €105 | €6,758 | ▲ 6,336% |
| Taxes, remuneration and social security45 | €7,465 | €5,177 | €5,177 | €176 | €47,233 | ▲ 26,737% |
| Taxes450/3 | €7,465 | €5,177 | €2,010 | €176 | €47,233 | ▲ 26,737% |
| Remuneration and social security454/9 | - | - | €3,167 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,943 | €48,905 | €58,046 | €55,961 | €31,240 | ▼ 44.2% |
| + Depreciation and write-downs630 | €745 | €1,172 | €3,701 | €8,905 | €17,003 | ▲ 90.9% |
| Operating cash flow (approximation) | €7,688 | €50,077 | €61,747 | €64,866 | €48,243 | ▼ 25.6% |
| Investment in fixed assets (approximation) | - | -€3,803 | -€18,566 | -€207,922 | -€49,849 | ▲ 76.0% |
| Change in cash | - | €23,868 | €17,561 | €1,626 | €3,807 | ▲ 134% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
31-12
Financial
Equity above €200,000Eq €206,522 ▲11.5%
6 profitable years in a row build equity to €206,522.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Equity above €150,000Eq €185,281 ▲43.3%
5 profitable years in a row build equity to €185,281.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2019net €58,046 ▲18.7%
Operating result €69,112, net result €58,046, both a record.
31-12
Financial
Equity above €100,000Eq €129,320 ▲81.4%
4 profitable years in a row build equity to €129,320.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 13.26
Current ratio from 3.60 to 13.26; short-term debt falls from €7,527 to €5,373.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Back to profitnet €7,661
Net result €7,661 after 2 loss-making years.
Show earlier events
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
31-03
Financial
Weakest financial yearnet -€11,213
Net result drops to -€11,213, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity times 7current ratio 45.02
Current ratio from 6.51 to 45.02; short-term debt falls from €3,443 to €176.
2019
07-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2018
16-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
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, Hasselt · 1 establishment unit since 2011
Ground area
636 m²
Building footprint
151 m²
Volume, LiDAR
848 m³
Parcel 71324E0555/00E003, Flanders · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
WAPEI BVBA
since 20112.204.926.103
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71324E0555/00E003 | Flanders | 636 m² | 1 · 151 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 82,642 companies in sector 70200 we hold annual accounts for 52,589. 39,757 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
Founded02-11-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0840951990
Also
9925:BE0840951990
Registered
22-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.