Waterfields Brewery

Active

Private limited companyfounded 20206 yrs activeGroenedreef 1, 8880 Ledegem, BelgiumKBO/BCE: BE 0742.524.607

The computed 12-month bankruptcy probability of Waterfields Brewery is 1.5% (moderate). The 2025 annual accounts show negative equity (€-62k) and a net result of €-117k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 32% of 302 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Watch Print / PDF

Checked score

Score 2025

28 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0=

Solvency13▼-27

Growth32▼-20

Track record100

Bankruptcy probability, 12 months

1.5% Moderate

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.87 against 1.46 in 2024; short-term debt: 78.8% and cash: 8% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

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 2025

Solvency, return and age of the figures

Solvency

-12.2%

Return on assets

-23.2%

Age of the figures

14 mo

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 11

Relative position

BE, all sectors

reference

Sector 11

lower

← fewer bankruptcies more bankruptcies →

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

2122232425

2021 to 2025 · latest year €-62k

Filed after the deadline

The financial year that closed on 31-07-2025 was due by 28-02-2026 and was filed on 31-03-2026, 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 · 5 filings

Deviation from the deadline

2025

31 d late

2024

122 d early

2023

36 d early

2022

30 d early

2021

50 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-07-2026 and is due by 28-02-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

31-07-2026 close17-09-2026 today28-02-2027 deadline

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

Financials · fiscal year 2025, micro schema

Equity

€-62k

2024 · €53k

2021: €16k 2022: €-37k 2023: €-149k 2024: €53k

2021 → 2025

Total assets

€505k▲ 41.8%

2024 · €356k

2021: €252k 2022: €373k 2023: €258k 2024: €356k

2021 → 2025

Net result

€-117k▲ 21.7%

2024 · €-150k

2021: €-84k 2022: €-153k 2023: €-112k 2024: €-150k

2021 → 2025

Working capital

€-51k

2024 · €63k

2021: €34k 2022: €39k 2023: €-101k 2024: €63k

2021 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€16k-€-37k€-149k▼ 308%€53k€-62k

Operating result€-79k-€-145k▼ 83.1%€-107k▲ 26.4%€-145k▼ 36.5%€-96k▲ 34.2%

Net result€-84k-€-153k▼ 83.0%€-112k▲ 26.5%€-150k▼ 33.2%€-117k▲ 21.7%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €96k in 2025 against €145k in 2024; the loss shrinks.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €486k

28.7%

71.3%

Fixed assets €140k▼ 10.4%

Current assets €347k▲ 73.1%

Key figures and ratios

2025 value · change against 2024

EBITDA

€-60k▲

2024 · €-121k

Cash flow

€-81k▲

2024 · €-126k

Solvency

-12.2%▼

2024 · 14.9%

Current ratio

0.87▼

2024 · 1.46

Quick ratio

0.62▼

2024 · 0.77

Debt / equity

-9.17▼

2024 · 5.69

ROA

-23.2%▲

2024 · -42.1%

Interest coverage

-2.74▲

2024 · -27.85

Debt

€567k▲

2024 · €303k

Debt ≤ 1 year

€398k▲

2024 · €137k

Debt > 1 year

€168k▲

2024 · €166k

Staff costs

€46▼

2024 · €516

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€356k€505k▲

Formation expenses20-€19k

Fixed assets21/28€156k€140k▼

Intangible fixed assets21€37k€34k▼

Tangible fixed assets22/27€119k€103k▼

Land and buildings22€11k€0▼

Plant, machinery and equipment23€97k€86k▼

Furniture and vehicles24€11k€8k▼

Other tangible fixed assets26-€9k

Financial fixed assets28-€2k

Current assets29/58€200k€347k▲

Stocks and contracts in progress3€95k€99k▲

Stocks30/36€95k€99k▲

Amounts receivable within one year40/41€66k€198k▲

Trade receivables40€45k€152k▲

Other amounts receivable41€20k€46k▲

Cash at bank and in hand54/58€39k€40k▲

Deferred charges and accrued income490/1€468€9k▲

Equity and liabilities

Total equity and liabilities10/49€356k€505k▲

Equity10/15€53k€-62k▼

Contributions10/11€552k€554k▲

Profit (loss) carried forward14€-499k€-616k▼

Amounts payable17/49€303k€567k▲

Amounts payable after more than one year17€166k€168k▲

Financial debts170/4€166k€168k▲

Amounts payable within one year42/48€137k€398k▲

Current portion of amounts payable after more than one year42€62k€69k▲

Financial debts43-€11k

Credit institutions430/8-€11k

Trade debts44€50k€250k▲

Suppliers440/4€50k€250k▲

Advances received on contracts in progress46-€294

Other amounts payable47/48€25k€68k▲

Accrued charges and deferred income492/3-€599

Income statement Code20242025

Remuneration, social security and pensions62€516€46▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€36k▲

Other operating charges640/8€330€30k▲

Non-recurring operating charges66A-€54

Gross operating margin9900€-121k€-30k▲

Operating profit (loss)9901€-145k€-96k▲

Financial income75/76B-€82

Recurring financial income75-€82

Financial charges65/66B€4k€22k▲

Recurring financial charges65€4k€22k▲

Profit (loss) for the period before taxes9903€-150k€-117k▲

Profit (loss) for the period9904€-150k€-117k▲

Profit (loss) for the period to be appropriated9905€-150k€-117k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-499k€-616k▼

Profit (loss) brought forward from the previous period14P€-349k€-499k▼

The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 8Financial 2Gazette 1Filings 5

Next filing, fiscal year 2026, expected by 28-02-2027

2026

13-08

State Gazette act Algemene Vergadering - Boekjaar

General meeting · Statutes amendment5 facts ▸

General meeting, 31 juli 2026
Statutes amendment
Statutes amendment
Statutes amendment
Statutes amendment

31-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 31 days late

2024

29-10

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

31-07

Financial Liquidity triplescurrent ratio 1.46

Current ratio from 0.44 to 1.46; short-term debt falls from €180k to €137k.

25-03

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-03

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-09

Financial Weakest financial yearnet €-153k

Net result drops to €-153k, the lowest in the series; recovery starts the following year.

11-03

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

6 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Ledegem · 1 establishment unit since 2020

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Groenedreef 18880 Ledegem

Ground area

8,515 m²

Building footprint

520 m²

Volume, LiDAR

2,688 m³

2 parcels, Flanders · tallest building 11.4 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Waterfields Brewery

Brugsesteenweg 45, 8433 MiddelkerkeManufacture of beer

since 20202.298.793.595

2 parcels

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
36018A0282/00D000 ProtectedMonumentHoeve 't Groot Schardouw: oude delenSource ↗	Flanders	7,117 m²	1 · 202 m²	9.3 m · 2 fl.
35016B0007/00K002	Flanders	1,398 m²	1 · 318 m²	11.4 m · 1 fl.