WERTI
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-01-2026 PDF all 31 filings
Equity
€4.1m▲ 1.4%
2024 · €4.1m
Total assets
€4.8m▲ 1.3%
2024 · €4.7m
Net result
€57,671▲ 12.3%
2024 · €51,339
Working capital
€4.7m▲ 1.2%
2024 · €4.7m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€6,203
▲ 78.3%
2025
20192025
Net result
€57,671
▲ 12.3%
2025
20192025
Equity
€4.1m
▲ 1.4%
2025
20192025
Total assets
€4.8m
▲ 1.3%
2025
20192025
Debt
€18,422
▲ 22.6%
2025
20192025
Working capital
€4.7m
▲ 1.2%
2025
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m--€0.007m€3.0m€0.01m▼ 99.6%-€0.01m-€0.03m▼ 145%-€0.006m▲ 78.3%
Net result€0.1m--€0.05m€2.1m€0.06m▼ 96.8%€0.03m▼ 57.5%€0.05m▲ 86.3%€0.06m▲ 12.3%
Equity€1.9m-€1.9m▼ 2.5%€3.9m▲ 110%€4.0m▲ 1.7%€4.0m▲ 0.7%€4.1m▲ 1.3%€4.1m▲ 1.4%
Total assets€4.3m-€3.9m▼ 10.4%€4.8m▲ 23.4%€4.6m▼ 2.8%€4.6m▲ 0.2%€4.7m▲ 1.2%€4.8m▲ 1.3%
Debt€2.3m-€1.9m▼ 13.8%€0.2m▼ 88.4%€0.03m▼ 88.4%€0.008m▼ 67.6%€0.02m▲ 76.9%€0.02m▲ 22.6%
Working capital€1.4m-€1.2m▼ 17.7%€4.5m▲ 290%€4.6m▲ 1.4%€4.6m▲ 0.6%€4.7m▲ 1.1%€4.7m▲ 1.2%
Staff (FTE)8.9-10.1▲ 13.5%2.1▼ 79.2%
The operating result for 2025 is a loss of €6,203, smaller than the loss of €28,610 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €4.8m
Equity
€4.1m ▲ 1.4%
Provisions
€620,000 =
Debt
€18,422 ▲ 22.6%
Debt's share of the balance-sheet total rises from 0.3% to 0.4%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.00▲
2024 · 0.00
ROE
1.4%▲
2024 · 1.3%
ROA
1.2%▲
2024 · 1.1%
Debt ≤ 1 year
€18,422▲
2024 · €15,023
Income taxes
€20,549▲
2024 · €18,926
A ratio outside any meaningful range has been withheld (balance sheet total €4.8m, equity €4.1m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.02m | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.01m | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€0.001m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.002m | €62 | ▼ 96.4% |
| Gross operating margin9900 | €1.0m | €0.7m | €4.1m | €0.01m | -€0.01m | -€0.03m | -€0.006m | ▲ 77.2% |
| Operating profit (loss)9901 | €0.2m | -€0.007m | €3.0m | €0.01m | -€0.01m | -€0.03m | -€0.006m | ▲ 78.3% |
| Financial income75/76B | - | - | - | €0.08m | €0.05m | €0.1m | €0.09m | ▼ 13.9% |
| Recurring financial income75 | €0.001m | €0.001m | €0.01m | €0.08m | €0.05m | €0.1m | €0.09m | ▼ 13.9% |
| Financial charges65/66B | - | - | - | €0.005m | €0.004m | €0.004m | €0.004m | ▲ 1.8% |
| Recurring financial charges65 | €0.05m | €0.05m | €0.02m | €0.005m | €0.004m | €0.004m | €0.004m | ▲ 1.8% |
| Profit (loss) for the period before taxes9903 | €0.2m | -€0.06m | €3.0m | €0.09m | €0.04m | €0.07m | €0.08m | ▲ 11.3% |
| Income taxes67/77 | €0.08m | €0.001m | €1.0m | €0.02m | €0.009m | €0.02m | €0.02m | ▲ 8.6% |
| Profit (loss) for the period9904 | €0.1m | -€0.05m | €2.1m | €0.06m | €0.03m | €0.05m | €0.06m | ▲ 12.3% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | -€0.03m | €2.2m | €0.06m | €0.03m | €0.05m | €0.06m | ▲ 12.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.3m | €3.9m | €4.8m | €4.6m | €4.6m | €4.7m | €4.8m | ▲ 1.3% |
| Fixed assets21/28 | €1.2m | €1.1m | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €1.2m | €1.1m | - | - | - | - | - | - |
| Financial fixed assets28 | €248 | €248 | - | - | - | - | - | - |
| Current assets29/58 | €3.1m | €2.8m | €4.8m | €4.6m | €4.6m | €4.7m | €4.8m | ▲ 1.3% |
| Amounts receivable after more than one year29 | - | - | - | €2.3m | €2.3m | €2.3m | €2.2m | ▼ 4.0% |
| Other amounts receivable291 | - | - | - | €2.3m | €2.3m | €2.3m | €2.2m | ▼ 4.0% |
| Stocks and contracts in progress3 | €2.2m | €2.0m | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.7m | €0.6m | €0.2m | €0.3m | €0.4m | €0.7m | €1.2m | ▲ 82.1% |
| Trade receivables40 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Other amounts receivable41 | - | - | - | €0.3m | €0.3m | €0.6m | €1.2m | ▲ 84.8% |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €2.7m | €2.1m | €2.0m | €1.8m | €1.4m | ▼ 21.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.3m | €3.9m | €4.8m | €4.6m | €4.6m | €4.7m | €4.8m | ▲ 1.3% |
| Equity10/15 | €1.9m | €1.9m | €3.9m | €4.0m | €4.0m | €4.1m | €4.1m | ▲ 1.4% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €1.1m | €1.0m | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Distributable reserves133 | - | - | - | €3.1m | €3.1m | €3.1m | €3.1m | = |
| Profit (loss) carried forward14 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.9m | €1.0m | ▲ 6.4% |
| Provisions and deferred taxes16 | €0.1m | €0.05m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Other liabilities and charges164/5 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Amounts payable17/49 | €2.3m | €1.9m | €0.2m | €0.03m | €0.008m | €0.02m | €0.02m | ▲ 22.6% |
| Amounts payable after more than one year17 | €0.5m | €0.3m | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.7m | €1.6m | €0.2m | €0.03m | €0.008m | €0.02m | €0.02m | ▲ 22.6% |
| Trade debts44 | €0.5m | €0.2m | €0.001m | €0.008m | €0.007m | €0.006m | €0.006m | = |
| Suppliers440/4 | - | - | - | €0.008m | €0.007m | €0.006m | €0.006m | = |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.001m | €0.009m | €0.01m | ▲ 39.2% |
| Taxes450/3 | - | - | - | €0.02m | €0.001m | €0.009m | €0.01m | ▲ 39.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | -€0.05m | €2.1m | €0.06m | €0.03m | €0.05m | €0.06m | ▲ 12.3% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.01m | - | - | - | - | - |
| Operating cash flow (approximation) | €0.3m | €0.1m | €2.1m | €0.06m | €0.03m | €0.05m | €0.06m | ▲ 12.3% |
| Investment in fixed assets (approximation) | - | -€0.04m | - | - | - | - | - | - |
| Change in cash | - | €0.05m | €2.5m | -€0.6m | -€0.05m | -€0.2m | -€0.4m | ▼ 57.6% |
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, 14,766 companies had the same profile as WERTI has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WERTI 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 14,766 companies, not a prediction for WERTI. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 12-01-2026 | 2026-00006024 | |
| 30-06-2024 | abbreviated format | 23-12-2024 | 2024-00623656 | |
| 30-06-2023 | abbreviated format | 26-01-2024 | 2024-00008303 | |
| 30-06-2022 | abbreviated format | 23-01-2023 | 2023-00001779 | |
| 30-06-2021 | abbreviated format | 27-01-2022 | 2022-02200454 | |
| 30-06-2020 | abbreviated format | 29-12-2020 | 2020-77300352 | |
| 30-06-2019 | abbreviated format | 23-12-2019 | 2019-77200083 | |
| 30-06-2018 | abbreviated format | 24-12-2018 | 2018-75800229 | |
| 30-06-2017 | abbreviated format | 20-12-2017 | 2017-72600024 | |
| 30-06-2016 | abbreviated format | 05-01-2017 | 2017-00400211 |