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Warrant

Active
Public limited companyfounded 197452 yrs activeTerhulpsesteenweg 177, 1170 Watermaal-Bosvoorde, BelgiumKBO/BCE: BE 0414.260.076
Summary

The computed 12-month bankruptcy probability of Warrant is 1.6% (moderate). The annual accounts of Warrant for fiscal year 2025 show a net loss of 51% of total assets and of 85% of the equity at the start of that year. The 2025 annual accounts show equity of €50,548 and a net result of -€278,785. Equity is shrinking by ~15.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 18% of 1147 sector peers (fiscal year 2025). The company has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
WarrantActiveChecked score 53/100
Risk analysis ReportCompare

Overview

Activity
Other business support services
NACE 82990Other activities auxiliary to financial services, excluding insurance and pension funding NACE 66199NACE 67130
#2 oldest company in Watermaal-Bosvoorde, Administrative and support services sector1 site
Size
€545,509total assets 2025
Staff
5.5 FTE
Equity
€50,548
Loss
-€278,785
Financial health
53 Fair Checked score 2025
Bankruptcy chance 12 m
1.6%
Structure
Accounts filed 18 d late0 of 21 deeds read
Why 53- Loss of €278,785, the second in a row (FY 2025)- Equity €50,548 (9.3% of total assets)- Latest accounts 18 days late; 2 of the last 3 late+ Liquidity: current ratio 2.15, cash €91,245Show the evidence

Checked score

Score 2025
53 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 18% of its sector peers (NACE 82, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 34-58
equity 9.3% of total assets
Liquidity 50+10
short-term debt 42.8% · cash 16.7%
Profitability 0-9
return on assets -51.1%
Bankruptcy probability, 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (12,603 companies)
Last 24 months 11-2024: 1.3% 12-2024: 1.3%● 0.0% vs 11-2024 01-2025: 1.2%▼ -0.6% vs 12-2024 02-2025: 1.2%● 0.0% vs 01-2025 03-2025: 1.2%▼ -1.0% vs 02-2025 04-2025: 1.2%▼ -1.5% vs 03-2025 05-2025: 1.2%▼ -4.9% vs 04-2025 06-2025: 1.1%▼ -4.5% vs 05-2025lowest value 07-2025: 1.2%▲ +6.2% vs 06-2025 08-2025: 1.3%▲ +12.9% vs 07-2025 09-2025: 1.2%▼ -10.4% vs 08-2025 10-2025: 1.2%▲ +3.1% vs 09-2025 11-2025: 1.3%▲ +4.1% vs 10-2025 12-2025: 1.6%▲ +28.2% vs 11-2025 01-2026: 2.8%▲ +73.0% vs 12-2025highest value 02-2026: 2.8%● 0.0% vs 01-2026highest value 03-2026: 1.8%▼ -35.0% vs 02-2026 04-2026: 1.9%▲ +1.0% vs 03-2026 05-2026: 1.9%● 0.0% vs 04-2026 06-2026: 1.9%● 0.0% vs 05-2026 07-2026: 1.8%▼ -4.8% vs 06-2026 08-2026: 2.0%▲ +14.8% vs 07-2026 09-2026: 1.6%▼ -19.9% vs 08-2026 10-2026: 1.6%● 0.0% vs 09-2026
  • Loss of €278,785, the second in a row (FY 2025) raises the probability
  • Equity €50,548 (9.3% of total assets) raises the probability
  • Latest accounts 18 days late; 2 of the last 3 late raises the probability
  • Liquidity: current ratio 2.15, cash €91,245 lowers the probability
Credit up to €2,500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.15 against 2.86 in 2024; short-term debt: 42.8% and cash: 16.7% of total assets), but 90.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 82, micro). Better than this share of them on solvency 20%, liquidity 40%, profitability 5%, growth against the median 7%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €278,785, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Equity €50,548 (9.3% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Latest accounts 18 days late; 2 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
lowers risk · Liquidity: current ratio 2.15, cash €91,245
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
18202122232425
2018 to 2025 · latest year -€278,785
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 1147 sector peers (2025).
NBB · sector comparison
Position among 1147 sector peers
Solvency
better than 18%
← weakest strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 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 filings
Deviation from the deadline
2025
18 d late
2024
201 d late
2023
61 d late
2022
70 d late
2021
58 d late
2020
1 d early
2019
11 d early
← 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 57 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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 1 October (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Annual accounts filedfiscal year 2024 · full…
  3. Weakest financial yearnet -€278,785

Key points

  • Risk: 5 loss-making years in a rowloss fiscal year 2025 -€278,785 View
  • Caution: Result fell in 2025from -€39,914 to -€278,785 ▼ 598% View
  • Caution: Among the weakest 9% on net resultsector median €49,016 · 1,148 companies -€278,785 View
  • Active since 1974founded 23-04-1974 52 years View

By topic

Financials

Fiscal year
2025
Total assets
€545,509
Loss
-€278,785
Solvency
9.3%
Total assets▲ 11.0%
Net result
20182025
Go to Financials

Timeline

Events
11
Since
2017
Next accounts
by 31-07-2027
  1. 18-08-2026Annual accounts filed
  2. 17-02-2026Annual accounts filed
  3. 31-12-2025Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Other business support servicesNACE 82990
Founded
23-04-1974
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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