WAREM
ActiveSummary
WAREM has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€82,941) and a net result of -€19,233. Equity is shrinking by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 10% of 19362 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability23▼-48
Solvency6▼-10
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.86 against 4.8 in 2023; short-term debt: 36.2% and cash: 3.6% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-18.9%
Return on assets
-4.4%
Age of the figures
21 mo
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
21222324
2021 to 2024 · latest year -€82,941
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
28 d late
2022
32 d late
2021
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 15 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€33,460
EBIT margin
-249.0%
Net result
-€19,233
2023 · €11,528
Working capital
€136,702▼ 66.9%
2023 · €413,075
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line2021202220232024
Turnover€33,460-
Operating result-€83,326-€536€16,648▲ 3,006%-€1,773
Net result-€88,798below the sector's middle half--€6,437within the sector's middle half▲ 92.8%€11,528within the sector's middle half-€19,233below the sector's middle half
EBIT margin-249.0%-
Equity-€68,798below the sector's middle half--€75,235below the sector's middle half▼ 9.4%-€63,707below the sector's middle half▲ 15.3%-€82,941below the sector's middle half▼ 30.2%
Total assets€656,155within the sector's middle half-€624,113within the sector's middle half▼ 4.9%€687,978within the sector's middle half▲ 10.2%€439,523within the sector's middle half▼ 36.1%
Debt€724,954-€699,348▼ 3.5%€751,686▲ 7.5%€522,464▼ 30.5%
Working capital€186,575-€350,062▲ 87.6%€413,075▲ 18.0%€136,702▼ 66.9%
Solvency-10.5%below the sector's middle half--12.1%below the sector's middle half▼ 1.6pp-9.3%below the sector's middle half▲ 2.8pp-18.9%below the sector's middle half▼ 9.6pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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 turns negative in 2024: a loss of €1,773 after €16,648 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €439,523
Fixed assets
€143,533 ▼ 13.7%
Current assets
€295,991 ▼ 43.3%
Key figures and ratios
EBITDA
€21,033▼
2023 · €39,454
Cash flow
€3,572▼
2023 · €34,333
Current ratio
1.86▼
2023 · 4.80
Quick ratio
0.29▼
2023 · 0.53
Debt to equity
-6.30▲
2023 · -11.80
ROA
-4.4%▼
2023 · 1.7%
Interest coverage
1.12▼
2023 · 7.44
Debt ≤ 1 year
€159,289▲
2023 · €108,565
Debt > 1 year
€363,175▼
2023 · €643,121
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,570 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 88% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a small loss
4.6%
went bankrupt
5.5%
stopped otherwise
88%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,662 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% | 1.7% |
| 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 75% 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 1,570 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 | Change |
|---|---|---|---|---|---|
| Turnover70 | €33,460 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €103,707 | - | - | - | - |
| Remuneration, social security and pensions62 | €368 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,050 | €22,775 | €22,805 | €22,805 | = |
| Other operating charges640/8 | €660 | €1,714 | €450 | €3,766 | ▲ 738% |
| Gross operating margin9900 | -€70,247 | €25,026 | €39,903 | €24,799 | ▼ 37.9% |
| Operating profit (loss)9901 | -€83,326 | €536 | €16,648 | -€1,773 | ▼ 111% |
| Financial income75/76B | €371 | €1,219 | €184 | €1,394 | ▲ 656% |
| Recurring financial income75 | €371 | €1,219 | €184 | €1,394 | ▲ 656% |
| Financial charges65/66B | €5,844 | €8,192 | €5,305 | €18,854 | ▲ 255% |
| Recurring financial charges65 | €5,844 | €8,192 | €5,305 | €18,854 | ▲ 255% |
| Profit (loss) for the period before taxes9903 | -€88,798 | -€6,437 | €11,528 | -€19,233 | ▼ 267% |
| Profit (loss) for the period9904 | -€88,798 | -€6,437 | €11,528 | -€19,233 | ▼ 267% |
| Profit (loss) for the period to be appropriated9905 | -€88,798 | -€6,437 | €11,528 | -€19,233 | ▼ 267% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €656,155 | €624,113 | €687,978 | €439,523 | ▼ 36.1% |
| Fixed assets21/28 | €209,919 | €189,143 | €166,338 | €143,533 | ▼ 13.7% |
| Intangible fixed assets21 | €2,334 | €1,866 | €1,398 | €930 | ▼ 33.5% |
| Tangible fixed assets22/27 | €207,585 | €187,278 | €164,940 | €142,603 | ▼ 13.5% |
| Land and buildings22 | €128,271 | €123,963 | €119,655 | €115,347 | ▼ 3.6% |
| Plant, machinery and equipment23 | €2,062 | €1,852 | €1,628 | €1,404 | ▼ 13.7% |
| Furniture and vehicles24 | €77,253 | €61,464 | €43,658 | €25,852 | ▼ 40.8% |
| Current assets29/58 | €446,236 | €434,969 | €521,640 | €295,991 | ▼ 43.3% |
| Stocks and contracts in progress3 | €421,405 | €366,445 | €464,119 | €249,909 | ▼ 46.2% |
| Stocks30/36 | €421,405 | €366,445 | €427,665 | €211,875 | ▼ 50.5% |
| Contracts in progress37 | - | - | €36,454 | €38,034 | ▲ 4.3% |
| Amounts receivable within one year40/41 | €24,520 | €33,960 | €18,366 | €6,354 | ▼ 65.4% |
| Trade receivables40 | - | €6,397 | €16,935 | €1,340 | ▼ 92.1% |
| Other amounts receivable41 | €24,520 | €27,563 | €1,430 | €5,014 | ▲ 251% |
| Cash at bank and in hand54/58 | €311 | €33,003 | €39,155 | €15,880 | ▼ 59.4% |
| Deferred charges and accrued income490/1 | - | €1,562 | €0 | €23,848 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €656,155 | €624,113 | €687,978 | €439,523 | ▼ 36.1% |
| Equity10/15 | -€68,798 | -€75,235 | -€63,707 | -€82,941 | ▼ 30.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€88,798 | -€95,235 | -€83,707 | -€102,941 | ▼ 23.0% |
| Amounts payable17/49 | €724,954 | €699,348 | €751,686 | €522,464 | ▼ 30.5% |
| Amounts payable after more than one year17 | €465,292 | €614,441 | €643,121 | €363,175 | ▼ 43.5% |
| Financial debts170/4 | €465,292 | €614,441 | €643,121 | €363,175 | ▼ 43.5% |
| Amounts payable within one year42/48 | €259,661 | €84,907 | €108,565 | €159,289 | ▲ 46.7% |
| Current portion of amounts payable after more than one year42 | €49,710 | €17,320 | €22,953 | €23,271 | ▲ 1.4% |
| Trade debts44 | €4,072 | €2,505 | €11,594 | €6,824 | ▼ 41.1% |
| Suppliers440/4 | €4,072 | €2,505 | €11,594 | €6,824 | ▼ 41.1% |
| Advances received on contracts in progress46 | - | - | €1,365 | - | - |
| Taxes, remuneration and social security45 | - | - | €773 | €13,813 | ▲ 1,686% |
| Taxes450/3 | - | - | €773 | €13,813 | ▲ 1,686% |
| Other amounts payable47/48 | €205,879 | €65,082 | €71,879 | €115,380 | ▲ 60.5% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€88,798 | -€6,437 | €11,528 | -€19,233 | ▼ 267% |
| + Depreciation and write-downs630 | €12,050 | €22,775 | €22,805 | €22,805 | = |
| Operating cash flow (approximation) | -€76,748 | €16,339 | €34,333 | €3,572 | ▼ 89.6% |
| Investment in fixed assets (approximation) | - | -€2,000 | €0 | €0 | - |
| Change in cash | - | €32,691 | €6,153 | -€23,275 | ▼ 478% |
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
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Back to profitnet €11,528
Net result €11,528 after 2 loss-making years.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 5.12
Current ratio from 1.72 to 5.12; short-term debt falls from €259,661 to €84,907.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Kapellen · 1 establishment unit since 2020
Ground area
607 m²
Building footprint
75 m²
Volume, LiDAR
405 m³
Parcel 11362M0171/00V000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
WAREM
since 20202.307.816.080
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11362M0171/00V000 | Flanders | 606 m² | 1 · 75 m² | 8.0 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
41001General construction of residential buildings
68201Renting and operating of own or leased residential real estate, excluding social housing
Contact
E-mail
waremwerk@gmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0752602610
Also
9925:BE0752602610
Registered
12-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.