WELVACO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €377k and a net result of €344k. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 47% of 5523 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
61 d late
2023
31 d late
2022
31 d late
2021
31 d late
2020
on the day
2019
on the day
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€377k▼ 14.9%
2024 · €442k
2018: €46k
2019: €57k
2020: €60k
2021: €332k
2022: €448k
2023: €437k
2024: €442k
2018 → 2025
Net result
€344k▲ 50.1%
2024 · €230k
2018: €6k
2019: €11k
2020: €3k
2021: €227k
2022: €155k
2023: €192k
2024: €230k
2018 → 2025
Total assets
€783k▲ 11.8%
2024 · €700k
2018: €217k
2019: €350k
2020: €304k
2021: €575k
2022: €539k
2023: €618k
2024: €700k
2018 → 2025
Solvency
48.1%▼ 15.1pp
2024 · 63.2%
2018: 21.3%
2019: 16.3%
2020: 19.9%
2021: 57.9%
2022: 83.1%
2023: 70.7%
2024: 63.2%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€332k-€448k▲ 34.7%€437k▼ 2.4%€442k▲ 1.3%€377k▼ 14.9%
Operating result€263k-€211k▼ 20.0%€223k▲ 5.7%€231k▲ 3.6%€343k▲ 48.7%
Net result€227k-€155k▼ 31.7%€192k▲ 23.9%€230k▲ 19.3%€344k▲ 50.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 49% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €783k
Fixed assets
€84k▲ 26.3%
Current assets
€698k▲ 10.3%
Equity and liabilities €783k
Equity
€377k▼ 14.9%
Debt
€406k▲ 57.8%
The debt ratio rises from 36.8% to 51.9%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
48.1%▼
2024 · 63.2%
ROE
91.5%▲
2024 · 51.9%
ROA
44.0%▲
2024 · 32.8%
Debt
€406k▲
2024 · €257k
Debt ≤ 1 year
€379k▲
2024 · €256k
Debt > 1 year
€16k
Income taxes
€17k▲
2024 · €13k
Staff costs
€343k▲
2024 · €274k
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€700k€783k▲
Fixed assets21/28€67k€84k▲
Intangible fixed assets21€901€701▼
Tangible fixed assets22/27€66k€84k▲
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€7k€33k▲
Other tangible fixed assets26€56k€49k▼
Financial fixed assets28€131€131=
Current assets29/58€633k€698k▲
Amounts receivable within one year40/41€110k€46k▼
Trade receivables40€244€43k▲
Other amounts receivable41€110k€3k▼
Current investments50/53€124k€930▼
Cash at bank and in hand54/58€382k€392k▲
Deferred charges and accrued income490/1€16k€259k▲
Equity and liabilities
Total equity and liabilities10/49€700k€783k▲
Equity10/15€442k€377k▼
Contributions10/11€27k€27k=
Reserves13€415k€349k▼
Tax-exempt reserves132€96€96=
Distributable reserves133€415k€349k▼
Amounts payable17/49€257k€406k▲
Amounts payable after more than one year17-€16k
Financial debts170/4-€16k
Amounts payable within one year42/48€256k€379k▲
Current portion of amounts payable after more than one year42-€5k
Trade debts44€28k€24k▼
Suppliers440/4€28k€24k▼
Taxes, remuneration and social security45€28k€37k▲
Taxes450/3-€5k
Remuneration and social security454/9€28k€33k▲
Other amounts payable47/48€201k€314k▲
Accrued charges and deferred income492/3€997€11k▲
Income statement
Code20242025
Non-recurring operating income76A-€1k
Remuneration, social security and pensions62€274k€343k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€19k▲
Other operating charges640/8€500€3k▲
Gross operating margin9900€516k€708k▲
Operating profit (loss)9901€231k€343k▲
Financial income75/76B€13k€20k▲
Recurring financial income75€13k€20k▲
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€242k€362k▲
Income taxes67/77€13k€17k▲
Profit (loss) for the period9904€230k€344k▲
Profit (loss) for the period to be appropriated9905€230k€344k▲
Appropriation of the result
Profit (loss) to be appropriated9906€305k€438k▲
Profit (loss) brought forward from the previous period14P€75k€94k▲
Transfer from equity791/2€24k-
Transfer to equity691/2€105k€28k▼
To other reserves6921€105k€28k▼
Profit to be distributed694/7€224k€410k▲
Return on contributions (dividend)694€24k€94k▲
Directors or managers695€200k€295k▲
Employees696-€21k
Social balance
Average headcount (FTE)90874.84.6▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €344k ▲50.1%
Operating result €343k, net result €344k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 5.46
Current ratio from 2.10 to 5.46; short-term debt falls from €242k to €89k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 2.10
Current ratio from 0.63 to 2.10.
31-12
Financial
Equity above €200kEq €332k ▲451%
4 profitable years in a row build equity to €332k.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Weakest financial yearnet €3k ▼70.5%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2021
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
07-09-2021
Geert Welvaert: Resigned as Director
07-09-2021
Peter Van Cauwenberghe: Resigned as Director
Location & real-estate footprint
Registered office, Deinze · 2 establishment units since 2004
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.
Kortrijkstraat 709800 DeinzeGround area
1,683 m²
Building footprint
894 m²
Volume, LiDAR
6,437 m³
3 parcels, Flanders · tallest building 14.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Welvaert & Van Cauwenberghe
since 20042.139.140.307
Welvaert & Van Cauwenberghe
since 20212.324.610.740
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44054A0353/00V000 | Flanders | 1,057 m² | 1 · 691 m² | 14.1 m · 3 fl. |
| 44065A0520/00K002 | Flanders | 541 m² | 1 · 125 m² | 10.2 m · 1 fl. |
| 44011A0912/00S007 | Flanders | 84 m² | 1 · 78 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels 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
2022 to 2025 · 4 entries · 2,461 EUR awarded · 2,409 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,165 EUR | 1,113 EUR |
| 2024 | 1 | 417 EUR | 417 EUR |
| 2023 | 1 | 506 EUR | 506 EUR |
| 2022 | 1 | 373 EUR | 373 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
984500R06BF8HBBB0176
Similar companies · same sector, comparable size
JMR INVEST
BE 0430.633.973
Estaimpuis · Eq €377k
VEIRMAN & C°
BE 0471.582.920
Liedekerke · Eq €378k
JDP
BE 0762.798.892
Oudenaarde · Eq €385k
Bruxelles Real Estate Investment Fund
BE 0683.704.401
Brussel · Eq €368k
Edeca Consult
BE 0652.893.736
Sint-Pieters-Woluwe · Eq €366k
Of 807 companies in sector 64999 we hold annual accounts for 484. 309 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-04-2004
Fiscal year end31-12
Legal name NL
Welvaco Insurance
Activities, NACEBEL
64999Other financial services
65236
66191Agents and brokers in banking services
82100Office administrative and support services
82110Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.