Equity
€782,989 ▲ 45.3%
Equity rose in 2025 from €538,981 to €782,989.
WATT MATTERS TWO
Lifetime
4 annual accounts with figures on one time axispeak €896,733 (2025)
€896,733▲ 75.6%
peak €203,144 (2025)
€203,144▲ 22.0%
peak €782,989 (2025)
€782,989▲ 45.3%
€12.6m▲ 59.4%
Board5 names since 2022
2 directorsBEWATT and 1 other
Owners4 names in the annual accounts
10.01%OuiTransform and 3 others
Documentsfilings and deeds
23-06-202638 days before the deadline
2025financial year
Gross margin from €510,681 to €896,733Appointment: OuiTransform (director) 28-10Equity from €538,981 to €782,989Debts from €7.9m to €12.6mCash from €34,056 to €16,244
Key points
from the 2025 annual accountsTurnover
≈ €2.1m estimated
The accounts state no turnover.
Debts
€12.6m 94% of the balance sheet
Financial debts 66%Suppliers 13%Other 21%
Of this, €2.4m falls due within a year.
Liquidity
2.56 was 0.59 in 2024
Short-term debts rose from €2.0m to €2.4m.
At the same address
16 companies
Position in the sector
5.8%
Lower solvency than 80% of companies in electricity, gas and steam. Sector median 28.1% · 352 companies.
Checked score
70
Healthy
Financially stronger than 39% of medium-sized companies in electricity, gas and steam (NACE 35)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 105 companies (NACE 35, medium-sized).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024lowest value
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.4%▲ +0.1 percentage points vs 04-2025
06-2025: 0.5%▲ +0.1 percentage points vs 05-2025
07-2025: 0.5%● unchanged vs 06-2025
08-2025: 0.5%● unchanged vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.4%▼ -0.1 percentage points vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.5%▲ +0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.6%▲ +0.1 percentage points vs 06-2026
08-2026: 0.7%▲ +0.1 percentage points vs 07-2026
09-2026: 0.8%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.6%▼ -0.2 percentage points vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 2.56, cash €16,244, halved
Founded in 2022
Equity €782,989 (5.8% of total assets)
lowers risk
Size: total assets €13.4m
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 (NACE 35, medium-sized). It does better than 21% of them on solvency, 28% on liquidity, 22% on profitability and 86% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 628 companies had the same profile as WATT MATTERS TWO has now. Each dot stands for 2 companies, two years later.
97.6%
were still trading
1.1%
stopped another way
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WATT MATTERS TWO itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 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 628 companies, not a prediction for WATT MATTERS TWO. 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.
Credit verdict
Credit of up to €50,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.56 (0.59 in 2024), above the usual 1.5. Short-term debt is 18% and cash 0.1% of total assets. However, 94.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 352 sector peers (2025).
NBB · sector comparisonPosition among 352 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-06-2026, 38 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
38 days early
2024
49 days early
2023
55 days early
2022
41 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 46 days before the deadline. In the sector (NACE 35), the median for financial year 2024 was 22 days before the deadline, and 27% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 16 June (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
OS
OuiTransorm SRL
Director
- BEWATT SRL consolidatesannual accounts 2025
- MILDRED consolidatesannual accounts 2025
- OUITRANSFORM SRL consolidatesannual accounts 2025
Recent changes
2 directors appointed
Ismaël DAOUD (managing director) and BEWATT (managing director) · Permanent representative: Bruno VANDERSCHUEREN · General meeting of 15-01-2026 · Gazette deed
Appointment: OuiTransform (director)
General meeting of 30-06-2023 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0781480401
Appointment: Cédric Le Blévennec (directeur à la gestion journalière)
Board meeting of 10-01-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| WATT MATTERS TWO Ixelles | €13.4m | €0.9m | 5.8% | - |
| RavaWind Stabroek | €10.3m | €0.8m | 28.8% | - |
| SOLARBUILD 2030 Ghent | €16.6m | €2.1m | 13.8% | - |
| Solarbuild 5 Ghent | €20.3m | €2.4m | 8.9% | - |
| 2 CLEVER Harelbeke | €7.1m | €0.5m | 4.4% | - |
| LemBeau Ostend | €6.3m | €0.6m | 35.8% | - |
| Solarbuild 7 Ghent | €14.1m | €0.4m | -0.1% | - |
These companies have the same main activity as WATT MATTERS TWO: production of electricity from non-renewable sources (NACE 35110). They are comparable in size and age: total assets between €6.3m and €20m, founded between 2020 and 2023.
Official details
Source: KBO- Status
- Active since 02-02-2022Normal situation
- Registered office
- 17 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Production of electricity from non-renewable sourcesNACE 35110and 3 others
- Establishment unit
- 2.327.648.1271050 Ixelles, since 02-02-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 12-06-2025
Annual accounts 2025
- €13.4m▲ 57.5%
- Filing
- Filed on 23-06-2026, 38 days before the end of the filing period
Companies linked to WATT MATTERS TWO
Shareholders
- OuiTransform10.01%
Insights on WATT MATTERS TWO
WATT MATTERS TWO has existed since 2022. In 2023 the gross margin rose from €50,895 to €224,951.
The gross margin has grown every year since.
In February 2026, the Official Gazette published the appointment of BEWATT as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about WATT MATTERS TWO
- What is the company number of WATT MATTERS TWO?
- The company number of WATT MATTERS TWO is 0781.480.401. The VAT number is the same number with BE in front: BE 0781.480.401.
- Where is WATT MATTERS TWO based?
- The registered office is at Londenstraat 17, 1050 Ixelles.Company details
- What does WATT MATTERS TWO do?
- According to the KBO register, the main activity is production of electricity from non-renewable sources (NACE 35110).
- What is the legal form of WATT MATTERS TWO?
- WATT MATTERS TWO is a private limited company (BV).
- When was WATT MATTERS TWO founded?
- WATT MATTERS TWO was founded on 02-02-2022.
- Is WATT MATTERS TWO still active?
- Yes, WATT MATTERS TWO is an active enterprise in the KBO register.
- What is the turnover of WATT MATTERS TWO?
- The turnover in financial year 2025 is ≈ €2.1m. This figure is estimated from the gross margin of €896,733 and 2,275 comparable companies of the same size. It probably lies between €1.3m and €3.6m. It is a rough estimate.Financials
- Is WATT MATTERS TWO profitable?
- In financial year 2025, WATT MATTERS TWO made a profit of €203,144.
- Where can I find the annual accounts of WATT MATTERS TWO?
- WATT MATTERS TWO filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of WATT MATTERS TWO due?
- WATT MATTERS TWO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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