WAREC
ActiveSummary
WAREC has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18.3m and a net result of -€50,054. Equity remains stable across the filed financial years (±0.5% per year). Its solvency ranks better than 95% of 80 sector peers (NACE 08, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Overview
- Staff
- 4 FTE
- Equity
- €18.3m
- Loss
- -€50,054
- Holdings
- 2
Why 66raises riskLiquidity: current ratio 1.41, cash €5,355, halvedFounded in 2020lowers riskFigures for financial year 2025 (filed 26-06-2026)Sector: Other mining and quarrying (NACE 08)Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 08, micro): better than 88% on solvency, 42% on liquidity, 18% on profitability and 24% on growth.
The bankruptcy probability was computed on 16-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 6 accounts on average 8 days before the deadline; the sector median (NACE 08) for financial year 2024 is 21 days before the deadline, and 30% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Weakest financial yearnet -€50,054
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result turns negative in 2025: a loss of €49,804 after €107,712 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 08, Other mining and quarrying: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €665,592 | €645,934 | €475,318 | ▼ 26.4% |
| Turnover70 | - | - | - | €664,823 | €645,491 | €467,644 | ▼ 27.6% |
| Other operating income74 | - | - | - | €769 | €443 | €7,674 | ▲ 1,634% |
| Operating charges60/66A | - | - | - | €538,562 | €538,222 | €525,122 | ▼ 2.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €5,212 | €0 | €7,786 | - |
| Purchases600/8 | - | - | - | €5,212 | €0 | €7,786 | - |
| Services and other goods61 | - | - | - | €218,167 | €223,762 | €185,784 | ▼ 17.0% |
| Remuneration, social security and pensions62 | - | €181,243 | €273,591 | €314,108 | €313,285 | €330,425 | ▲ 5.5% |
| Other operating charges640/8 | - | €459 | €1,144 | €1,075 | €1,176 | €1,126 | ▼ 4.2% |
| Gross operating margin9900 | €208,346 | €380,298 | €412,998 | - | - | - | - |
| Operating profit (loss)9901 | €27,453 | €198,596 | €138,263 | €127,029 | €107,712 | -€49,804 | - |
| Financial charges65/66B | - | €2,358 | €787 | €1,246 | €39 | €85 | ▲ 118% |
| Recurring financial charges65 | €24 | €2,358 | €787 | €1,246 | €39 | €85 | ▲ 118% |
| Other financial charges652/9 | - | - | - | €1,246 | €39 | €85 | ▲ 118% |
| Profit (loss) for the period before taxes9903 | €27,428 | €196,238 | €137,476 | €125,783 | €107,672 | -€49,889 | - |
| Income taxes67/77 | €7,265 | €50,418 | €34,585 | €32,062 | €27,733 | €165 | ▼ 99.4% |
| Taxes670/3 | - | - | - | €32,062 | €27,733 | €165 | ▼ 99.4% |
| Profit (loss) for the period9904 | €20,163 | €145,820 | €102,891 | €93,721 | €79,940 | -€50,054 | - |
| Profit (loss) for the period to be appropriated9905 | €20,163 | €145,820 | €102,891 | €93,721 | €79,940 | -€50,054 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €18.0m | €18.4m | €18.7m | €18.9m | €19.2m | €19.3m | ▲ 0.7% |
| Fixed assets21/28 | €17.9m | €17.9m | €17.9m | €17.9m | €17.9m | €17.9m | = |
| Financial fixed assets28 | €17.9m | €17.9m | €17.9m | €17.9m | €17.9m | €17.9m | = |
| Affiliated companies280/1 | - | - | - | €17.9m | €17.9m | €17.9m | = |
| Participating interests280 | - | - | - | €17.9m | €17.9m | €17.9m | = |
| Other financial fixed assets284/8 | - | - | - | €363 | €363 | €0 | ▼ 100% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €363 | €363 | €0 | ▼ 100% |
| Current assets29/58 | €0.06m | €0.5m | €0.8m | €0.9m | €1.2m | €1.4m | ▲ 10.4% |
| Stocks and contracts in progress3 | - | - | - | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €0.03m | €0.3m | €0.8m | €0.9m | €1.2m | €1.3m | ▲ 12.1% |
| Trade receivables40 | - | €0.04m | €0.1m | €0.02m | €0.05m | €0.05m | ▼ 6.9% |
| Other amounts receivable41 | - | €0.3m | €0.7m | €0.9m | €1.1m | €1.3m | ▲ 13.0% |
| Cash at bank and in hand54/58 | €0.03m | €0.2m | €0.03m | €0.008m | €0.02m | €0.005m | ▼ 77.1% |
| Deferred charges and accrued income490/1 | - | €269 | €0.003m | €0.003m | €0.004m | €0.004m | ▲ 8.1% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €18.0m | €18.4m | €18.7m | €18.9m | €19.2m | €19.3m | ▲ 0.7% |
| Equity10/15 | €18.0m | €18.1m | €18.2m | €18.3m | €18.4m | €18.3m | ▼ 0.3% |
| Contributions10/11 | - | €17.9m | €17.9m | €17.9m | €17.9m | €17.9m | = |
| Reserves13 | €0.02m | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 11.3% |
| Distributable reserves133 | - | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 11.3% |
| Amounts payable17/49 | €0.04m | €0.3m | €0.5m | €0.6m | €0.8m | €1.0m | ▲ 22.5% |
| Amounts payable within one year42/48 | €0.04m | €0.3m | €0.5m | €0.6m | €0.8m | €1.0m | ▲ 22.5% |
| Financial debts43 | - | - | - | - | - | €0.02m | - |
| Credit institutions430/8 | - | - | - | - | - | €0.02m | - |
| Trade debts44 | €0.02m | €0.05m | €0.09m | €0.05m | €0.3m | €0.02m | ▼ 93.5% |
| Suppliers440/4 | - | €0.05m | €0.09m | €0.05m | €0.3m | €0.02m | ▼ 93.5% |
| Taxes, remuneration and social security45 | - | €0.01m | €0.05m | €0.03m | €0.04m | €0.03m | ▼ 19.2% |
| Taxes450/3 | - | €0.004m | €0.04m | €0.002m | €0.001m | €0.01m | ▲ 694% |
| Remuneration and social security454/9 | - | €0.01m | €0.02m | €0.03m | €0.04m | €0.02m | ▼ 44.4% |
| Other amounts payable47/48 | - | €0.2m | €0.4m | €0.5m | €0.5m | €0.9m | ▲ 88.3% |
| Accrued charges and deferred income492/3 | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,163 | €145,820 | €102,891 | €93,721 | €79,940 | -€50,054 | - |
| Operating cash flow (approximation) | €20,163 | €145,820 | €102,891 | €93,721 | €79,940 | -€50,054 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €363 | - |
| Change in cash | - | €136,523 | -€133,875 | -€24,987 | €15,598 | -€18,008 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 26-06-2026 | 2026-00216958 |
| 31-12-2024 | full format | 29-08-2025 | 2025-00445915 |
| 31-12-2023 | full format | 29-07-2024 | 2024-00299962 |
| 31-12-2022 | abbreviated format | 24-07-2023 | 2023-00263590 |
| 31-12-2021 | abbreviated format | 18-07-2022 | 2022-20194898 |
| 31-12-2020 | abbreviated format | 13-07-2021 | 2021-34700497 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2025 · 3 entries · €5,044 awarded · €5,043 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €3,900 | €3,900 |
| 2023 | 1 | €0 | €105 |
| 2022 | 1 | €1,144 | €1,038 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- PADIMATsubsidiaryEquity €11.5mResult -€29,290100%
- VANDEN BUVERIEsubsidiaryEquity €11.2mResult €364,639100%
According to the 2025 annual accounts of WAREC and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
No directors read yet: 0 of 1 Gazette act processed.
History
Acts, filings and financial milestones
About the unread acts
We know of 1 Belgian Official Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 16 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0741.696.246
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34010A0865/00D000 | Flanders | 9,373 m² | 1 · 150 m² | 3.4 m · 1 |