WARLOCK
ActiveSummary
WARLOCK has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€519,042) and a net result of -€244,253. Equity has been shrinking by about 66% per year since 2023. The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-12-2022 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.339.531.023 2940 Stabroek, since 29-12-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 11-11-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- Gross margin
- -€10,607
- ▼ 198%
- Loss
- €244,253
- ▲ 104%
- Equity
- -€519,042
- ▼ 88.9%
- Total assets
- €4.7m
- ▲ 42.7%
- Negative equity on 31-12-2025
- 2025 accounts filed 47 days after the deadline
Score breakdownraises riskCapped at 59: negative equityLast filed accounts filed 47 days late; 2 of the last 3 accounts lateNegative equity -€519,042lowers riskSize: total assets €4.7mNo main activity registeredShow the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 (no NACE code, small). It does better than 5% of them on solvency, 18% on liquidity, 4% on profitability and 3% on growth.
The bankruptcy probability was computed on 02-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 46 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 47 days after the deadline Filed on 16 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00514448.
Annual accounts 2025 filed on 16-09-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is a loss of €123,807, larger than the loss of €55,786 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1.2m | €2.0m | €1.5m |
| Depreciation and write-downs of the year | €859 | €49,444 | €107,504 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €859 | €49,444 | €107,504 | ▲ 117% |
| Other operating charges640/8 | €639 | €2,782 | €5,697 | ▲ 105% |
| Gross operating margin9900 | -€150,873 | -€3,561 | -€10,607 | ▼ 198% |
| Operating profit (loss)9901 | -€152,371 | -€55,786 | -€123,807 | ▼ 122% |
| Financial income75/76B | - | €1 | €0 | ▼ 100% |
| Recurring financial income75 | - | €1 | €0 | ▼ 100% |
| Financial charges65/66B | €3,536 | €64,097 | €120,446 | ▲ 87.9% |
| Recurring financial charges65 | €3,536 | €64,097 | €120,446 | ▲ 87.9% |
| Profit (loss) for the period before taxes9903 | -€155,907 | -€119,882 | -€244,253 | ▼ 104% |
| Profit (loss) for the period9904 | -€155,907 | -€119,882 | -€244,253 | ▼ 104% |
| Profit (loss) for the period to be appropriated9905 | -€155,907 | -€119,882 | -€244,253 | ▼ 104% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.3m | €3.3m | €4.7m | ▲ 42.7% |
| Fixed assets21/28 | €1.2m | €3.2m | €4.6m | ▲ 45.0% |
| Tangible fixed assets22/27 | €1.2m | €3.2m | €4.6m | ▲ 45.0% |
| Land and buildings22 | €1.2m | €3.2m | €4.6m | ▲ 45.4% |
| Plant, machinery and equipment23 | €0.006m | €0.02m | €0.01m | ▼ 23.7% |
| Current assets29/58 | €0.07m | €0.1m | €0.07m | ▼ 31.5% |
| Amounts receivable within one year40/41 | €0.01m | €0.04m | €0 | ▼ 100% |
| Trade receivables40 | €0.01m | €0.04m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.06m | €0.06m | €0.07m | ▲ 11.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.3m | €3.3m | €4.7m | ▲ 42.7% |
| Equity10/15 | -€0.2m | -€0.3m | -€0.5m | ▼ 88.9% |
| Contributions10/11 | €0.001m | €0.001m | €0.001m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.3m | -€0.5m | ▼ 88.6% |
| Amounts payable17/49 | €1.4m | €3.6m | €5.2m | ▲ 46.3% |
| Amounts payable after more than one year17 | €0.6m | €2.2m | €3.0m | ▲ 37.8% |
| Financial debts170/4 | €0.6m | €2.2m | €3.0m | ▲ 37.8% |
| Amounts payable within one year42/48 | €0.9m | €1.4m | €2.2m | ▲ 59.3% |
| Current portion of amounts payable after more than one year42 | - | €0.07m | €0.1m | ▲ 36.9% |
| Trade debts44 | €0.007m | €0 | €25 | - |
| Suppliers440/4 | €0.007m | €0 | €25 | - |
| Taxes, remuneration and social security45 | - | - | €273 | - |
| Taxes450/3 | - | - | €273 | - |
| Other amounts payable47/48 | €0.9m | €1.3m | €2.1m | ▲ 60.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | -€0.1m | -€0.2m | ▼ 104% |
| + Depreciation and write-downs630 | €0.001m | €0.05m | €0.1m | ▲ 117% |
| Operating cash flow (approximation) | -€0.2m | -€0.07m | -€0.1m | ▼ 94.1% |
| Investment in fixed assets (approximation) | - | -€2.0m | -€1.5m | ▲ 23.7% |
| Change in cash | - | €0.004m | €0.007m | ▲ 57.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as WARLOCK has now. Two years later, 96.6% were still going and 1.0% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WARLOCK itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,251 companies, not a prediction for WARLOCK. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- MERTENS Stijn sole founder · 100% at incorporation
Capital transactions
- 02-01-2023 Incorporation · €1,000 · 100 shares
Network & group
Companies at the same address
2 other companiesConnections & network
2 connected companiesThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
02-01
Gazette deed
IncorporationStarting capital €1,000 · Appointment: MERTENS Stijn (director) · Founder5 points ▸
- Incorporation, 29-12-2022
- Founder, MERTENS Stijn
- Founding capital, €1,000
- Director appointment, MERTENS Stijn (director (not named in the articles))
- Other provision, “ontledend uittreksel ondertekening, VOOR ONTLEDEND UITTREKSEL” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11044C0593/00A000 | Flanders | 448 m² | 1 · 112 m² | 11.9 m · 3 |