WATYPIQUE
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00438852.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 5 filings
Turnover
≈ €74,000
Estimated: probably between €31,000 and €180,000
EBIT margin
Not included in this filing
Net result
-€249
2024 · €10,974
Working capital
€7,267▼ 17.9%
2024 · €8,854
In the rankings
#10 company by total assets in Waremme, Manufacturing sector
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€4,382
▼ 76.3%
2025
20212025
Net result
-€249
2025
lowest quarter of the sector
20212025
Equity
€39,174
▼ 0.6%
2025
lowest quarter of the sector
20212025
Total assets
€175,590
▼ 7.6%
2025
lowest quarter of the sector
20212025
Debt
€136,416
▼ 9.4%
2025
20212025
Working capital
€7,267
▼ 17.9%
2025
lowest quarter of the sector
20212025
Solvency
22.3%
▲ 1.6pp
2025
lowest quarter of the sector
20212025
Current ratio
1.31
▲ 0.03
2025
middle half of the sector
20212025
Return on assets (ROA)
-0.1%
▼ 5.9pp
2025
lowest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€15,915-€9,176▼ 42.3%€19,287▲ 110%€18,455▼ 4.3%€4,382▼ 76.3%
Net result€11,708below the sector's middle half-€4,989below the sector's middle half▼ 57.4%€11,252within the sector's middle half▲ 126%€10,974within the sector's middle half▼ 2.5%-€249below the sector's middle half
Equity€12,208below the sector's middle half-€17,197below the sector's middle half▲ 40.9%€28,449below the sector's middle half▲ 65.4%€39,423below the sector's middle half▲ 38.6%€39,174below the sector's middle half▼ 0.6%
Total assets€27,133below the sector's middle half-€183,362below the sector's middle half▲ 576%€176,564below the sector's middle half▼ 3.7%€190,016below the sector's middle half▲ 7.6%€175,590below the sector's middle half▼ 7.6%
Debt€14,925-€166,165▲ 11×€148,115▼ 10.9%€150,593▲ 1.7%€136,416▼ 9.4%
Working capital€12,208below the sector's middle half--€13,542below the sector's middle half-€1,732below the sector's middle half▲ 87.2%€8,854below the sector's middle half€7,267below the sector's middle half▼ 17.9%
Solvency45.0%within the sector's middle half-9.4%below the sector's middle half▼ 35.6pp16.1%below the sector's middle half▲ 6.7pp20.7%below the sector's middle half▲ 4.6pp22.3%below the sector's middle half▲ 1.6pp
Current ratio1.82within the sector's middle half-0.64below the sector's middle half▼ 1.180.93below the sector's middle half▲ 0.291.28within the sector's middle half▲ 0.351.31within the sector's middle half▲ 0.03
Return on assets (ROA)43.2%above the sector's middle half-2.7%within the sector's middle half▼ 40.4pp6.4%within the sector's middle half▲ 3.7pp5.8%within the sector's middle half▼ 0.6pp-0.1%below the sector's middle half▼ 5.9pp
above
within
below
The sector band is the middle half of the companies in Manufacture of textiles (NACE 13). 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 76% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €175,590
Fixed assets
€144,598 ▼ 3.3%
Current assets
€30,992 ▼ 23.6%
Equity and liabilities €175,590
Equity
€39,174 ▼ 0.6%
Debt
€136,416 ▼ 9.4%
Debt's share of the balance-sheet total falls from 79.3% to 77.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€9,252▼
2024 · €23,324
Cash flow
€4,621▼
2024 · €15,843
Quick ratio
0.95▼
2024 · 1.04
Debt to equity
3.48▼
2024 · 3.82
ROE
-0.6%▼
2024 · 27.8%
Interest coverage
2.34▼
2024 · 5.32
Debt ≤ 1 year
€23,725▼
2024 · €31,694
Debt > 1 year
€112,691▼
2024 · €118,121
Income taxes
€702▼
2024 · €3,094
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €160,700 | - | - | - |
| Depreciation and write-downs of the year | - | €1,494 | €4,869 | €4,869 | €4,870 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,494 | €4,869 | €4,869 | €4,870 | = |
| Other operating charges640/8 | €796 | €369 | €1,153 | €2,204 | €1,635 | ▼ 25.8% |
| Gross operating margin9900 | €16,711 | €11,039 | €25,309 | €25,528 | €10,887 | ▼ 57.4% |
| Operating profit (loss)9901 | €15,915 | €9,176 | €19,287 | €18,455 | €4,382 | ▼ 76.3% |
| Financial income75/76B | €2 | €5 | €4 | - | €21 | - |
| Recurring financial income75 | €2 | €5 | €4 | - | €21 | - |
| Financial charges65/66B | €109 | €1,918 | €4,566 | €4,387 | €3,950 | ▼ 10.0% |
| Recurring financial charges65 | €109 | €1,918 | €4,566 | €4,387 | €3,950 | ▼ 10.0% |
| Profit (loss) for the period before taxes9903 | €15,808 | €7,263 | €14,725 | €14,068 | €453 | ▼ 96.8% |
| Income taxes67/77 | €4,100 | €2,274 | €3,473 | €3,094 | €702 | ▼ 77.3% |
| Profit (loss) for the period9904 | €11,708 | €4,989 | €11,252 | €10,974 | -€249 | - |
| Profit (loss) for the period to be appropriated9905 | €11,708 | €4,989 | €11,252 | €10,974 | -€249 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €27,133 | €183,362 | €176,564 | €190,016 | €175,590 | ▼ 7.6% |
| Fixed assets21/28 | - | €159,206 | €154,337 | €149,468 | €144,598 | ▼ 3.3% |
| Tangible fixed assets22/27 | - | €159,206 | €154,337 | €149,468 | €144,598 | ▼ 3.3% |
| Land and buildings22 | - | €159,206 | €154,337 | €149,468 | €144,598 | ▼ 3.3% |
| Current assets29/58 | €27,133 | €24,156 | €22,227 | €40,548 | €30,992 | ▼ 23.6% |
| Stocks and contracts in progress3 | €6,983 | €6,285 | €6,914 | €7,605 | €8,365 | ▲ 10.0% |
| Stocks30/36 | €6,983 | €6,285 | €6,914 | €7,605 | €8,365 | ▲ 10.0% |
| Amounts receivable within one year40/41 | €11,857 | €9,628 | €2,548 | €10,343 | €7,101 | ▼ 31.3% |
| Trade receivables40 | €11,857 | €9,628 | €2,548 | €10,343 | €7,101 | ▼ 31.3% |
| Cash at bank and in hand54/58 | €8,293 | €8,243 | €12,765 | €22,600 | €15,526 | ▼ 31.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €27,133 | €183,362 | €176,564 | €190,016 | €175,590 | ▼ 7.6% |
| Equity10/15 | €12,208 | €17,197 | €28,449 | €39,423 | €39,174 | ▼ 0.6% |
| Contributions10/11 | €500 | €500 | €500 | €500 | €500 | = |
| Reserves13 | - | €11,708 | €11,708 | €11,708 | €11,708 | = |
| Distributable reserves133 | - | €11,708 | €11,708 | €11,708 | €11,708 | = |
| Profit (loss) carried forward14 | €11,708 | €4,989 | €16,241 | €27,215 | €26,966 | ▼ 0.9% |
| Amounts payable17/49 | €14,925 | €166,165 | €148,115 | €150,593 | €136,416 | ▼ 9.4% |
| Amounts payable after more than one year17 | - | €128,467 | €123,378 | €118,121 | €112,691 | ▼ 4.6% |
| Financial debts170/4 | - | €128,467 | €123,378 | €118,121 | €112,691 | ▼ 4.6% |
| Amounts payable within one year42/48 | €14,925 | €37,698 | €23,959 | €31,694 | €23,725 | ▼ 25.1% |
| Current portion of amounts payable after more than one year42 | - | €5,704 | €5,089 | €5,257 | €5,875 | ▲ 11.8% |
| Trade debts44 | €6,950 | €2,335 | €4,640 | €5,736 | €538 | ▼ 90.6% |
| Suppliers440/4 | €6,950 | €2,335 | €4,640 | €5,736 | €538 | ▼ 90.6% |
| Taxes, remuneration and social security45 | €7,950 | €10,317 | €9,369 | €12,909 | €9,555 | ▼ 26.0% |
| Taxes450/3 | €7,950 | €10,317 | €9,369 | €12,909 | €9,555 | ▼ 26.0% |
| Other amounts payable47/48 | €25 | €19,342 | €4,861 | €7,792 | €7,757 | ▼ 0.4% |
| Accrued charges and deferred income492/3 | - | - | €778 | €778 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,708 | €4,989 | €11,252 | €10,974 | -€249 | - |
| + Depreciation and write-downs630 | - | €1,494 | €4,869 | €4,869 | €4,870 | = |
| Operating cash flow (approximation) | €11,708 | €6,483 | €16,121 | €15,843 | €4,621 | ▼ 70.8% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | -€50 | €4,522 | €9,835 | -€7,074 | - |
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, 1,548 companies had the same profile as WATYPIQUE has now. Two years later, 91.3% were still going and 4.3% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
91.3%
was still going
3.9%
stopped otherwise
4.3%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of WATYPIQUE itself is lower: 0.6% within 12 months. It rests on far more data about WATYPIQUE than the profile alone.
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 1,548 companies, not a prediction for WATYPIQUE. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 28-08-2026 | 2026-00438852 | |
| 31-12-2024 | full format | 13-08-2025 | 2025-00373577 | |
| 31-12-2023 | full format | 19-09-2024 | 2024-00466024 | |
| 31-12-2022 | full format | 02-11-2023 | 2023-00503498 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20396982 |