WATTEC
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 09-04-2026 PDF all 18 filings
Turnover
≈ €1.8m
Estimated: probably between €1.2m and €3.0m
Total assets
€1.6m▼ 12.9%
2024 · €1.9m
Net result
€624,641▼ 14.7%
2024 · €732,147
Working capital
€574,897▲ 21.0%
2024 · €474,929
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€797,460
▼ 9.7%
2025
20192025
Net result
€624,641
▼ 14.7%
2025
highest quarter of the sector
20192025
Equity
€639,966
▲ 13.2%
2025
middle half of the sector
20192025
Total assets
€1.6m
▼ 12.9%
2025
middle half of the sector
20192025
Debt
€993,929
▼ 24.2%
2025
20192025
Working capital
€574,897
▲ 21.0%
2025
middle half of the sector
20192025
Solvency
39.2%
▲ 9.0pp
2025
middle half of the sector
20192025
Current ratio
1.58
▲ 0.22
2025
middle half of the sector
20192025
Return on assets (ROA)
38.2%
▼ 0.8pp
2025
highest quarter of the sector
20192025
Staff (FTE)
5.3
▼ 8.6%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.4m▲ 106%€0.2m▼ 53.8%€0.1m▼ 9.7%€0.3m▲ 132%€0.9m▲ 158%€0.8m▼ 9.7%
Net result€0.2m-€0.3mabove the sector's middle half▲ 104%€0.1mwithin the sector's middle half▼ 55.8%€0.1mwithin the sector's middle half▼ 22.5%€0.3mabove the sector's middle half▲ 169%€0.7mabove the sector's middle half▲ 158%€0.6mabove the sector's middle half▼ 14.7%
Equity€0.5m-€0.6mwithin the sector's middle half▲ 16.0%€0.7mwithin the sector's middle half▲ 14.7%€0.7mwithin the sector's middle half▲ 0.8%€0.6mwithin the sector's middle half▼ 17.0%€0.6mwithin the sector's middle half▲ 0.4%€0.6mwithin the sector's middle half▲ 13.2%
Total assets€1.0m-€1.0mwithin the sector's middle half▲ 4.0%€1.0mwithin the sector's middle half▲ 2.3%€1.5mwithin the sector's middle half▲ 44.9%€1.3mwithin the sector's middle half▼ 11.3%€1.9mwithin the sector's middle half▲ 40.2%€1.6mwithin the sector's middle half▼ 12.9%
Debt€0.5m-€0.4m▼ 8.9%€0.4m▼ 14.6%€0.8m▲ 126%€0.8m▼ 6.6%€1.3m▲ 69.2%€1.0m▼ 24.2%
Working capital€0.3m-€0.4mwithin the sector's middle half▲ 53.9%€0.5mwithin the sector's middle half▲ 8.7%€0.5mwithin the sector's middle half▲ 6.7%€0.4mwithin the sector's middle half▼ 19.0%€0.5mwithin the sector's middle half▲ 19.3%€0.6mwithin the sector's middle half▲ 21.0%
Solvency51.7%-57.7%within the sector's middle half▲ 6.0pp64.7%above the sector's middle half▲ 7.0pp45.0%within the sector's middle half▼ 19.7pp42.1%within the sector's middle half▼ 2.9pp30.1%within the sector's middle half▼ 12.0pp39.2%within the sector's middle half▲ 9.0pp
Current ratio1.59-1.99within the sector's middle half▲ 0.402.26within the sector's middle half▲ 0.271.59within the sector's middle half▼ 0.671.51within the sector's middle half▼ 0.081.36within the sector's middle half▼ 0.151.58within the sector's middle half▲ 0.22
Return on assets (ROA)15.5%-30.3%above the sector's middle half▲ 14.9pp13.1%above the sector's middle half▼ 17.2pp7.0%within the sector's middle half▼ 6.1pp21.3%above the sector's middle half▲ 14.2pp39.0%above the sector's middle half▲ 17.8pp38.2%above the sector's middle half▼ 0.8pp
Staff (FTE)9.8-8.7within the sector's middle half▼ 11.2%8within the sector's middle half▼ 8.0%6.5within the sector's middle half▼ 18.8%4.8within the sector's middle half▼ 26.2%5.8within the sector's middle half▲ 20.8%5.3within the sector's middle half▼ 8.6%
above
within
below
The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 10% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€65,069 ▼ 28.3%
Current assets
€1.6m ▼ 12.1%
Equity and liabilities €1.6m
Equity
€639,966 ▲ 13.2%
Debt
€993,929 ▼ 24.2%
Debt's share of the balance-sheet total falls from 69.9% to 60.8%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
1.41▲
2024 · 1.22
Debt to equity
1.55▼
2024 · 2.32
ROE
97.6%▼
2024 · 129.5%
Debt ≤ 1 year
€993,929▼
2024 · €1.3m
Income taxes
€176,838▲
2024 · €161,777
Staff costs
€246,439▼
2024 · €257,924
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 5 | 5 | 5 |
| full-time | 4 | 5 | 5 | 5 |
| in full-time equivalents | 4 | 5 | 5 | 5 |
| Average over the year, in full-time equivalents | 6.5 | 4.8 | 5.8 | 5.3 |
| On a permanent contract | 4 | 5 | 5 | 5 |
| Joined | 1 | 3 | 1 | 2 |
| Left | 5 | 2 | 1 | 2 |
| Training hours | 48 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Financial fixed assets | - | €57,398 | €40,043 | €4,690 |
| Depreciation and write-downs of the year | €17,095 | €3,762 | €3,762 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €6,070 awarded · €6,070 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €474 | €474 |
| 2024 | 1 | €960 | €960 |
| 2023 | 1 | €4,500 | €4,500 |
| 2022 | 1 | €136 | €136 |
Public contracts
2 awards · 2023
PIV: piscine de Jambes - rénovation et extension: Filtration
PIV: piscine de Jambes - rénovation et extension: Filtration
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.2m | €0.3m | €0.2m | ▼ 4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.03m | €0.03m | €0.02m | €0.004m | €0.004m | - | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.002m | €0.001m | €0.002m | ▲ 54.0% |
| Gross operating margin9900 | €0.7m | €0.8m | €0.6m | €0.5m | €0.5m | €1.1m | €1.0m | ▼ 8.7% |
| Operating profit (loss)9901 | €0.2m | €0.4m | €0.2m | €0.1m | €0.3m | €0.9m | €0.8m | ▼ 9.7% |
| Financial income75/76B | - | - | - | €0.003m | €0.009m | €0.02m | €0.01m | ▼ 24.4% |
| Recurring financial income75 | €0.008m | €0.004m | €0.006m | €0.003m | €0.009m | €0.02m | €0.01m | ▼ 24.4% |
| Financial charges65/66B | - | - | - | €0.004m | €0.003m | €0.006m | €0.009m | ▲ 42.7% |
| Recurring financial charges65 | €0.007m | €0.006m | €0.005m | €0.004m | €0.003m | €0.006m | €0.009m | ▲ 42.7% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.3m | €0.2m | €0.1m | €0.3m | €0.9m | €0.8m | ▼ 10.3% |
| Income taxes67/77 | €0.02m | €0.04m | €0.03m | €0.04m | €0.06m | €0.2m | €0.2m | ▲ 9.3% |
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.1m | €0.1m | €0.3m | €0.7m | €0.6m | ▼ 14.7% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.3m | €0.1m | €0.1m | €0.3m | €0.7m | €0.6m | ▼ 14.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.0m | €1.5m | €1.3m | €1.9m | €1.6m | ▼ 12.9% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.09m | €0.07m | ▼ 28.3% |
| Intangible fixed assets21 | €0.008m | €0.003m | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.07m | €0.07m | €0.04m | €0.02m | €0.007m | €0.003m | - | - |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.007m | €0.003m | - | - |
| Financial fixed assets28 | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | €0.09m | €0.07m | ▼ 25.7% |
| Current assets29/58 | €0.7m | €0.9m | €0.8m | €1.3m | €1.2m | €1.8m | €1.6m | ▼ 12.1% |
| Stocks and contracts in progress3 | €0.05m | €0.04m | €0.03m | €0.4m | €0.2m | €0.2m | €0.2m | ▼ 9.3% |
| Stocks30/36 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 0.3% |
| Contracts in progress37 | - | - | - | €0.4m | €0.2m | €0.2m | €0.1m | ▼ 10.8% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.5m | €0.7m | €0.4m | €0.9m | €0.4m | ▼ 55.5% |
| Trade receivables40 | - | - | - | €0.7m | €0.2m | €0.8m | €0.3m | ▼ 59.0% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.1m | €0.1m | €0.07m | ▼ 29.2% |
| Current investments50/53 | - | - | - | - | - | €0.3m | €0.02m | ▼ 94.3% |
| Cash at bank and in hand54/58 | €0.09m | €0.3m | €0.05m | €0.2m | €0.6m | €0.4m | €1.0m | ▲ 127% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.003m | €0.004m | €0.004m | ▲ 17.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.0m | €1.5m | €1.3m | €1.9m | €1.6m | ▼ 12.9% |
| Equity10/15 | €0.5m | €0.6m | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | ▲ 13.2% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.3m | €0.4m | €0.5m | €0.5m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.5m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.02m | €0.02m | €0.008m | €0.01m | €0.2m | €0.2m | €0.3m | ▲ 37.3% |
| Amounts payable17/49 | €0.5m | €0.4m | €0.4m | €0.8m | €0.8m | €1.3m | €1.0m | ▼ 24.2% |
| Amounts payable after more than one year17 | €0.003m | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.5m | €0.4m | €0.4m | €0.8m | €0.8m | €1.3m | €1.0m | ▼ 24.1% |
| Trade debts44 | €0.1m | €0.06m | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | ▼ 13.2% |
| Suppliers440/4 | - | - | - | €0.3m | €0.3m | €0.4m | €0.4m | ▼ 13.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.05m | €0.03m | €0.05m | ▲ 51.3% |
| Taxes450/3 | - | - | - | - | €0.02m | €0.001m | €0.02m | ▲ 13× |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.02m | €0.03m | €0.03m | ▲ 6.2% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.4m | €0.9m | €0.6m | ▼ 32.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.001m | €350 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €151,422 | €308,473 | €136,453 | €105,721 | €284,271 | €732,147 | €624,641 | ▼ 14.7% |
| + Depreciation and write-downs630 | €38,007 | €32,602 | €27,377 | €17,095 | €3,762 | €3,762 | - | - |
| Operating cash flow (approximation) | €189,429 | €341,075 | €163,830 | €122,816 | €288,034 | €735,909 | €624,641 | ▼ 15.1% |
| Investment in fixed assets (approximation) | - | €38,568 | -€76,453 | €8,211 | €19,596 | €71,064 | €25,677 | ▼ 63.9% |
| Change in cash | - | €207,784 | -€248,052 | €134,899 | €401,418 | -€150,306 | €553,710 | - |
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, 34,693 companies had the same profile as WATTEC has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of WATTEC itself: 0.1% 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 34,693 companies, not a prediction for WATTEC. 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.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 09-04-2026 | 2026-00079854 | |
| 30-09-2024 | abbreviated format | 11-04-2025 | 2025-00067823 | |
| 30-09-2023 | abbreviated format | 29-04-2024 | 2024-00072197 | |
| 30-09-2022 | abbreviated format | 20-03-2023 | 2023-00043500 | |
| 30-09-2021 | abbreviated format | 14-03-2022 | 2022-07900211 | |
| 30-09-2020 | abbreviated format | 24-03-2021 | 2021-08400307 | |
| 30-09-2019 | abbreviated format | 23-03-2020 | 2020-07500340 | |
| 30-09-2018 | abbreviated format | 12-03-2019 | 2019-07000508 | |
| 30-09-2017 | abbreviated format | 13-03-2018 | 2018-06900119 | |
| 30-09-2016 | abbreviated format | 22-03-2017 | 2017-07000555 |