WATRIN
ActiveSummary
WATRIN has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €611k and a net result of €168k. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 85% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability98▲+8
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 4.6 against 18.73 in 2024; short-term debt: 14.7% and cash: 40.9% of total assets), and 14.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
85.3%
Return on assets
23.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
61 d late
2022
73 d late
2021
78 d late
2020
61 d late
2019
91 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€611k▼ 29.6%
2024 · €868k
2018: €531klowest in 8 years
2019: €651k▲ +22.5% vs 2018
2020: €647k▼ -0.5% vs 2019
2021: €579k▼ -10.5% vs 2020
2022: €621k▲ +7.2% vs 2021
2023: €714k▲ +15.0% vs 2022
2024: €868k▲ +21.6% vs 2023highest in 8 years
2025: €611k▼ -29.6% vs 2024
2018 → 2025
Total assets
€717k▼ 22.6%
2024 · €926k
2018: €826k
2019: €807k▼ -2.3% vs 2018
2020: €770k▼ -4.6% vs 2019
2021: €672k▼ -12.7% vs 2020lowest in 8 years
2022: €725k▲ +7.8% vs 2021
2023: €778k▲ +7.3% vs 2022
2024: €926k▲ +19.0% vs 2023highest in 8 years
2025: €717k▼ -22.6% vs 2024
2018 → 2025
Net result
€168k▲ 8.6%
2024 · €154k
2018: €62klowest in 8 years
2019: €120k▲ +93.9% vs 2018
2020: €75k▼ -37.3% vs 2019
2021: €91k▲ +22.0% vs 2020
2022: €117k▲ +27.5% vs 2021
2023: €138k▲ +18.5% vs 2022
2024: €154k▲ +11.8% vs 2023
2025: €168k▲ +8.6% vs 2024highest in 8 years
2018 → 2025
Working capital
€380k▼ 47.8%
2024 · €729k
2018: €199klowest in 8 years
2019: €459k▲ +130% vs 2018
2020: €475k▲ +3.6% vs 2019
2021: €400k▼ -15.7% vs 2020
2022: €458k▲ +14.4% vs 2021
2023: €569k▲ +24.3% vs 2022
2024: €729k▲ +28.2% vs 2023highest in 8 years
2025: €380k▼ -47.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€579k-€621k▲ 7.2%€714k▲ 15.0%€868k▲ 21.6%€611k▼ 29.6%
2021: €579klowest in 5 years
2022: €621k▲ +7.2% vs 2021
2023: €714k▲ +15.0% vs 2022
2024: €868k▲ +21.6% vs 2023highest in 5 years
2025: €611k▼ -29.6% vs 2024
Operating result€142k-€178k▲ 25.4%€192k▲ 7.8%€207k▲ 7.5%€224k▲ 8.1%
2021: €142klowest in 5 years
2022: €178k▲ +25.4% vs 2021
2023: €192k▲ +7.8% vs 2022
2024: €207k▲ +7.5% vs 2023
2025: €224k▲ +8.1% vs 2024highest in 5 years
Net result€91k-€117k▲ 27.5%€138k▲ 18.5%€154k▲ 11.8%€168k▲ 8.6%
2021: €91klowest in 5 years
2022: €117k▲ +27.5% vs 2021
2023: €138k▲ +18.5% vs 2022
2024: €154k▲ +11.8% vs 2023
2025: €168k▲ +8.6% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 8% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €717k
Fixed assets
€231k ▲ 48.6%
Current assets
€486k ▼ 36.9%
Equity and liabilities €717k
Equity
€611k ▼ 29.6%
Provisions
€0 ▼ 100%
Debt
€106k ▲ 87.2%
Debt's share of the balance-sheet total rises from 6.1% to 14.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€266k▲
2024 · €235k
Cash flow
€210k▲
2024 · €183k
Current ratio
4.60▼
2024 · 18.73
Quick ratio
4.47▼
2024 · 18.25
Debt to equity
0.17▲
2024 · 0.06
ROE
27.4%▲
2024 · 17.8%
ROA
23.4%▲
2024 · 16.7%
Interest coverage
68.72▼
2024 · 75.67
Debt ≤ 1 year
€106k▲
2024 · €41k
Income taxes
€73k▲
2024 · €69k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 61 lines
Balance sheet
Code20242025
Assets
Total assets20/58€926k€717k▼
Fixed assets21/28€155k€231k▲
Tangible fixed assets22/27€155k€231k▲
Land and buildings22€145k€128k▼
Plant, machinery and equipment23€5k€5k▼
Furniture and vehicles24€5k€99k▲
Current assets29/58€770k€486k▼
Amounts receivable after more than one year29€25k-
Other amounts receivable291€25k-
Stocks and contracts in progress3€20k€14k▼
Stocks30/36€20k€14k▼
Amounts receivable within one year40/41€199k€83k▼
Trade receivables40€27k€83k▲
Other amounts receivable41€172k-
Current investments50/53€369k€89k▼
Cash at bank and in hand54/58€151k€293k▲
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€926k€717k▼
Equity10/15€868k€611k▼
Contributions10/11€21k€21k=
Reserves13€846k€589k▼
Non-distributable reserves130/1€842k€588k▼
Other1319€842k€588k▼
Tax-exempt reserves132€3k€397▼
Distributable reserves133€1k€1k=
Profit (loss) carried forward14€992€992=
Provisions and deferred taxes16€923-
Deferred taxes168€923-
Amounts payable17/49€56k€106k▲
Amounts payable after more than one year17€15k-
Financial debts170/4€15k-
Amounts payable within one year42/48€41k€106k▲
Current portion of amounts payable after more than one year42€15k€15k▲
Trade debts44€3k€1k▼
Suppliers440/4€3k€1k▼
Taxes, remuneration and social security45€24k€31k▲
Taxes450/3€24k€31k▲
Other amounts payable47/48-€58k
Income statement
Code20242025
Non-recurring operating income76A-€34k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€28k€42k▲
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A€191€174▼
Gross operating margin9900€238k€268k▲
Operating profit (loss)9901€207k€224k▲
Financial income75/76B€19k€20k▲
Recurring financial income75€19k€20k▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€223k€239k▲
Transfer from deferred taxes780€923€923=
Income taxes67/77€69k€73k▲
Profit (loss) for the period9904€154k€168k▲
Transfer from tax-exempt reserves789€3k€3k=
Profit (loss) for the period to be appropriated9905€157k€170k▲
Appropriation of the result
Profit (loss) to be appropriated9906€158k€171k▲
Profit (loss) brought forward from the previous period14P€992€992=
Transfer from equity791/2-€425k
Transfer to equity691/2€157k€170k▲
To other reserves6921€157k€170k▲
Profit to be distributed694/7-€425k
Return on contributions (dividend)694-€425k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €34k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42k | €39k | €41k | €28k | €42k | ▲ 48.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-437 | - | - | - | - | - |
| Other operating charges640/8 | €3k | €3k | €3k | €2k | €2k | ▲ 3.7% |
| Non-recurring operating charges66A | €2k | €388 | €238 | €191 | €174 | ▼ 8.8% |
| Gross operating margin9900 | €188k | €221k | €236k | €238k | €268k | ▲ 12.9% |
| Operating profit (loss)9901 | €142k | €178k | €192k | €207k | €224k | ▲ 8.1% |
| Financial income75/76B | €8k | €12k | €9k | €19k | €20k | ▲ 3.3% |
| Recurring financial income75 | €8k | €12k | €9k | €19k | €20k | ▲ 3.3% |
| Financial charges65/66B | €8k | €17k | €642 | €3k | €4k | ▲ 24.4% |
| Recurring financial charges65 | €8k | €17k | €642 | €3k | €4k | ▲ 24.4% |
| Profit (loss) for the period before taxes9903 | €142k | €173k | €201k | €223k | €239k | ▲ 7.4% |
| Transfer from deferred taxes780 | €923 | €923 | €923 | €923 | €923 | = |
| Income taxes67/77 | €52k | €57k | €64k | €69k | €73k | ▲ 4.7% |
| Profit (loss) for the period9904 | €91k | €117k | €138k | €154k | €168k | ▲ 8.6% |
| Transfer from tax-exempt reserves789 | €36k | €3k | €3k | €3k | €3k | = |
| Profit (loss) for the period to be appropriated9905 | €127k | €119k | €141k | €157k | €170k | ▲ 8.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €672k | €725k | €778k | €926k | €717k | ▼ 22.6% |
| Fixed assets21/28 | €240k | €210k | €177k | €155k | €231k | ▲ 48.6% |
| Tangible fixed assets22/27 | €240k | €210k | €177k | €155k | €231k | ▲ 48.6% |
| Land and buildings22 | €211k | €187k | €164k | €145k | €128k | ▼ 11.9% |
| Plant, machinery and equipment23 | €90 | €541 | €7k | €5k | €5k | ▼ 9.8% |
| Furniture and vehicles24 | €28k | €22k | €6k | €5k | €99k | ▲ 1,726% |
| Current assets29/58 | €432k | €515k | €601k | €770k | €486k | ▼ 36.9% |
| Amounts receivable after more than one year29 | €135k | €65k | €25k | €25k | - | - |
| Other amounts receivable291 | €135k | €65k | €25k | €25k | - | - |
| Stocks and contracts in progress3 | €44k | €24k | €22k | €20k | €14k | ▼ 27.2% |
| Stocks30/36 | €44k | €24k | €22k | €20k | €14k | ▼ 27.2% |
| Amounts receivable within one year40/41 | €121k | €184k | €187k | €199k | €83k | ▼ 58.3% |
| Trade receivables40 | €24k | €83k | €64k | €27k | €83k | ▲ 206% |
| Other amounts receivable41 | €97k | €100k | €123k | €172k | - | - |
| Current investments50/53 | €50k | €41k | €46k | €369k | €89k | ▼ 75.9% |
| Cash at bank and in hand54/58 | €79k | €198k | €319k | €151k | €293k | ▲ 94.0% |
| Deferred charges and accrued income490/1 | €4k | €3k | €3k | €6k | €7k | ▲ 1.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €672k | €725k | €778k | €926k | €717k | ▼ 22.6% |
| Equity10/15 | €579k | €621k | €714k | €868k | €611k | ▼ 29.6% |
| Contributions10/11 | €21k | €21k | €21k | €21k | €21k | = |
| Reserves13 | €557k | €599k | €692k | €846k | €589k | ▼ 30.4% |
| Non-distributable reserves130/1 | €546k | €590k | €685k | €842k | €588k | ▼ 30.2% |
| Reserves not available under the articles1311 | €19k | €19k | - | - | - | - |
| Other1319 | €527k | €571k | €685k | €842k | €588k | ▼ 30.2% |
| Tax-exempt reserves132 | €11k | €9k | €6k | €3k | €397 | ▼ 87.5% |
| Distributable reserves133 | - | - | €1k | €1k | €1k | = |
| Profit (loss) carried forward14 | €992 | €992 | €992 | €992 | €992 | = |
| Provisions and deferred taxes16 | €4k | €3k | €2k | €923 | - | - |
| Deferred taxes168 | €4k | €3k | €2k | €923 | - | - |
| Amounts payable17/49 | €89k | €101k | €62k | €56k | €106k | ▲ 87.2% |
| Amounts payable after more than one year17 | €57k | €44k | €30k | €15k | - | - |
| Financial debts170/4 | €57k | €44k | €30k | €15k | - | - |
| Amounts payable within one year42/48 | €32k | €57k | €32k | €41k | €106k | ▲ 157% |
| Current portion of amounts payable after more than one year42 | €13k | €13k | €14k | €15k | €15k | ▲ 5.0% |
| Financial debts43 | - | €11k | - | - | - | - |
| Credit institutions430/8 | - | €11k | - | - | - | - |
| Trade debts44 | €2k | €6k | €2k | €3k | €1k | ▼ 60.1% |
| Suppliers440/4 | €2k | €6k | €2k | €3k | €1k | ▼ 60.1% |
| Taxes, remuneration and social security45 | €18k | €27k | €16k | €24k | €31k | ▲ 31.3% |
| Taxes450/3 | €18k | €27k | €16k | €24k | €31k | ▲ 31.3% |
| Other amounts payable47/48 | - | - | - | - | €58k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €91k | €117k | €138k | €154k | €168k | ▲ 8.6% |
| + Depreciation and write-downs630 | €42k | €39k | €41k | €28k | €42k | ▲ 48.9% |
| Operating cash flow (approximation) | €133k | €156k | €179k | €183k | €210k | ▲ 14.9% |
| Investment in fixed assets (approximation) | - | €-9k | €-8k | €-7k | €-118k | ▼ 1,630% |
| Change in cash | - | €119k | €121k | €-168k | €142k | ▲ 185% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €168k ▲8.6%
Operating result €224k, net result €168k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 18.78
Current ratio from 8.99 to 18.78; short-term debt falls from €57k to €32k.
12-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 73 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 7.69
Current ratio from 2.06 to 7.69; short-term debt falls from €188k to €69k.
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are 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, Sint-Niklaas · 1 establishment unit since 1994
Ground area
2,960 m²
Building footprint
168 m²
Volume, LiDAR
849 m³
Parcel 46019A1619/00B000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Molenstraat 47, 9112 Sint-Niklaas
since 19942.060.393.430
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46019A1619/00B000 | Flanders | 2,960 m² | 1 · 168 m² | 8.1 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,657 EUR awarded · 2,657 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,657 EUR | 2,657 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Similar companies · same sector, comparable size
COMIMBO
BE 0424.356.885
Kapellen · Eq €613k
Betonco
BE 0893.868.361
Kluisbergen · Eq €618k
RE PROGRESSO
BE 0836.438.522
Wortegem-Petegem · Eq €619k
Timber Industries
BE 0755.562.001
Sint-Martens-Latem · Eq €601k
ARTISSAN
BE 0895.495.387
Oudsbergen · Eq €623k
Of 1,136 companies in sector 46130 we hold annual accounts for 646. 410 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-01-1993
Fiscal year end31-12
Activities, NACEBEL 2025
46130Agents in the wholesale of timber and building materials
Scores and ratios are computed by Checked and are not a credit decision.