WESTELEC
ActiveSummary
WESTELEC has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.2m and a net result of €579,444. Equity is growing by ~7.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability85▲+7
Solvency97▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270,000 at 30 days acceptable
Liquidity ample (current ratio 3.32 against 3.89 in 2023; short-term debt: 27.9% and cash: 68.8% of total assets), and 27.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
72.1%
Return on assets
13.2%
Age of the figures
21 mo
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 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
36 d early
2023
55 d early
2022
47 d early
2021
58 d early
2020
43 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 41 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 14 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
In the rankings
#8 employer in Ypres, Construction sector#10 company by equity in Ypres, Construction sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€3.2m▲ 7.2%
2023 · €3.0m
Total assets
€4.4m▲ 13.8%
2023 · €3.9m
Net result
€579,444▲ 96.0%
2023 · €295,662
Working capital
€2.8m▲ 8.6%
2023 · €2.6m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€480,993▼ 39.8%-€279,862€31,167€309,984▲ 895%€714,460▲ 130%
Net result€351,625above the sector's middle half▼ 45.3%-€288,471below the sector's middle half€23,423within the sector's middle half€295,662above the sector's middle half▲ 1,162%€579,444above the sector's middle half▲ 96.0%
Equity€2.5mabove the sector's middle half▲ 16.6%€2.8mabove the sector's middle half▲ 12.9%€2.8mabove the sector's middle half▲ 0.8%€3.0mabove the sector's middle half▲ 5.2%€3.2mabove the sector's middle half▲ 7.2%
Total assets€2.8mabove the sector's middle half▼ 7.2%€3.4mabove the sector's middle half▲ 19.1%€3.3mabove the sector's middle half▼ 2.4%€3.9mabove the sector's middle half▲ 16.8%€4.4mabove the sector's middle half▲ 13.8%
Debt€373,539▼ 60.5%€598,166▲ 60.1%€493,552▼ 17.5%€903,328▲ 83.0%€1.2m▲ 35.4%
Working capital€2.4mabove the sector's middle half▲ 18.7%€2.6mabove the sector's middle half▲ 7.1%€2.6mabove the sector's middle half▼ 1.2%€2.6mabove the sector's middle half▲ 2.1%€2.8mabove the sector's middle half▲ 8.6%
Solvency86.8%above the sector's middle half▲ 17.8pp82.3%above the sector's middle half▼ 4.5pp85.0%above the sector's middle half▲ 2.7pp76.6%above the sector's middle half▼ 8.5pp72.1%above the sector's middle half▼ 4.4pp
Current ratio7.76above the sector's middle half▲ 4.615.33above the sector's middle half▼ 2.437.01above the sector's middle half▲ 1.683.89above the sector's middle half▼ 3.123.32above the sector's middle half▼ 0.57
Return on assets (ROA)12.4%above the sector's middle half▼ 8.6pp-8.5%below the sector's middle half▼ 20.9pp0.7%below the sector's middle half▲ 9.2pp7.7%within the sector's middle half▲ 7.0pp13.2%within the sector's middle half▲ 5.5pp
Staff (FTE)23.7above the sector's middle half▼ 8.5%20.9above the sector's middle half▼ 11.8%20above the sector's middle half▼ 4.3%24.9above the sector's middle half▲ 24.5%28.2above the sector's middle half▲ 13.3%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 130% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.4m
Fixed assets
€329,085 ▼ 3.5%
Current assets
€4.1m ▲ 15.5%
Equity and liabilities €4.4m
Equity
€3.2m ▲ 7.2%
Debt
€1.2m ▲ 35.4%
Debt's share of the balance-sheet total rises from 23.4% to 27.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€800,701▲
2023 · €385,000
Cash flow
€665,685▲
2023 · €370,678
Quick ratio
3.19▼
2023 · 3.83
Debt to equity
0.39▲
2023 · 0.31
ROE
18.3%▲
2023 · 10.0%
Interest coverage
333.20▲
2023 · 136.63
Debt ≤ 1 year
€1.2m▲
2023 · €903,212
Income taxes
€208,758▲
2023 · €40,246
Staff costs
€1.9m▲
2023 · €1.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1.2m | €1.2m | €1.5m | €1.9m | ▲ 24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,720 | €33,472 | €46,177 | €75,016 | €86,241 | ▲ 15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €187,679 | -€21,419 | - | -€117,003 | - |
| Other operating charges640/8 | - | €20,378 | €28,837 | €8,204 | €19,693 | ▲ 140% |
| Gross operating margin9900 | €1.7m | €1.1m | €1.3m | €1.9m | €2.6m | ▲ 35.3% |
| Operating profit (loss)9901 | €480,993 | -€279,862 | €31,167 | €309,984 | €714,460 | ▲ 130% |
| Financial income75/76B | - | €6 | €1,661 | €28,742 | €76,146 | ▲ 165% |
| Recurring financial income75 | €4,930 | €6 | €1,661 | €28,742 | €76,146 | ▲ 165% |
| Financial charges65/66B | - | €7,615 | €3,584 | €2,818 | €2,403 | ▼ 14.7% |
| Recurring financial charges65 | €5,126 | €7,615 | €3,584 | €2,818 | €2,403 | ▼ 14.7% |
| Profit (loss) for the period before taxes9903 | €480,797 | -€287,471 | €29,244 | €335,908 | €788,202 | ▲ 135% |
| Income taxes67/77 | €129,172 | €1,000 | €5,820 | €40,246 | €208,758 | ▲ 419% |
| Profit (loss) for the period9904 | €351,625 | -€288,471 | €23,423 | €295,662 | €579,444 | ▲ 96.0% |
| Profit (loss) for the period to be appropriated9905 | €351,625 | -€288,471 | €23,423 | €295,662 | €579,444 | ▲ 96.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €3.4m | €3.3m | €3.9m | €4.4m | ▲ 13.8% |
| Fixed assets21/28 | €66,044 | €195,093 | €316,193 | €340,916 | €329,085 | ▼ 3.5% |
| Intangible fixed assets21 | - | - | - | €0 | €0 | - |
| Tangible fixed assets22/27 | €27,799 | €152,322 | €273,423 | €297,996 | €286,164 | ▼ 4.0% |
| Land and buildings22 | - | €33,846 | €27,981 | €22,116 | €16,251 | ▼ 26.5% |
| Plant, machinery and equipment23 | - | €14,154 | €13,806 | €24,753 | €26,912 | ▲ 8.7% |
| Furniture and vehicles24 | - | €104,323 | €228,605 | €248,707 | €241,191 | ▼ 3.0% |
| Other tangible fixed assets26 | - | - | €3,031 | €2,420 | €1,810 | ▼ 25.2% |
| Financial fixed assets28 | €38,245 | €42,770 | €42,770 | €42,920 | €42,920 | = |
| Current assets29/58 | €2.8m | €3.2m | €3.0m | €3.5m | €4.1m | ▲ 15.5% |
| Stocks and contracts in progress3 | €220,460 | €369,277 | €122,299 | €58,121 | €159,822 | ▲ 175% |
| Stocks30/36 | - | €369,277 | €122,299 | €58,121 | €159,822 | ▲ 175% |
| Contracts in progress37 | - | - | - | €0 | €0 | - |
| Amounts receivable within one year40/41 | €405,406 | €824,044 | €594,754 | €1.2m | €881,003 | ▼ 24.8% |
| Trade receivables40 | - | €686,607 | €515,158 | €1.0m | €684,115 | ▼ 33.8% |
| Other amounts receivable41 | - | €137,437 | €79,595 | €139,083 | €196,888 | ▲ 41.6% |
| Cash at bank and in hand54/58 | €2.1m | €2.0m | €2.3m | €2.3m | €3.0m | ▲ 32.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €3.4m | €3.3m | €3.9m | €4.4m | ▲ 13.8% |
| Equity10/15 | €2.5m | €2.8m | €2.8m | €3.0m | €3.2m | ▲ 7.2% |
| Contributions10/11 | €215,000 | €233,600 | €233,600 | €233,600 | €233,600 | = |
| Capital10 | - | €233,600 | €233,600 | €233,600 | €233,600 | = |
| Issued capital100 | - | €233,600 | €233,600 | €233,600 | €233,600 | = |
| Reserves13 | €2.3m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Non-distributable reserves130/1 | - | €23,360 | €23,360 | €23,360 | €23,360 | = |
| Legal reserve130 | - | €23,360 | €23,360 | €23,360 | €23,360 | = |
| Distributable reserves133 | - | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Profit (loss) carried forward14 | - | -€288,471 | -€265,048 | -€119,385 | €93,059 | ▲ 178% |
| Amounts payable17/49 | €373,539 | €598,166 | €493,552 | €903,328 | €1.2m | ▲ 35.4% |
| Amounts payable within one year42/48 | €357,679 | €598,100 | €425,914 | €903,212 | €1.2m | ▲ 35.4% |
| Trade debts44 | €170,808 | €401,618 | €280,461 | €548,602 | €578,036 | ▲ 5.4% |
| Suppliers440/4 | - | €401,618 | €280,461 | €548,602 | €578,036 | ▲ 5.4% |
| Taxes, remuneration and social security45 | - | €196,482 | €145,453 | €204,610 | €277,624 | ▲ 35.7% |
| Taxes450/3 | - | €75,140 | €34,596 | €13,373 | €35,053 | ▲ 162% |
| Remuneration and social security454/9 | - | €121,341 | €110,857 | €191,237 | €242,571 | ▲ 26.8% |
| Other amounts payable47/48 | - | - | - | €150,000 | €367,000 | ▲ 145% |
| Accrued charges and deferred income492/3 | - | €67 | €67,638 | €117 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €351,625 | -€288,471 | €23,423 | €295,662 | €579,444 | ▲ 96.0% |
| + Depreciation and write-downs630 | €37,720 | €33,472 | €46,177 | €75,016 | €86,241 | ▲ 15.0% |
| Operating cash flow (approximation) | €389,345 | -€254,999 | €69,600 | €370,678 | €665,685 | ▲ 79.6% |
| Investment in fixed assets (approximation) | - | -€162,520 | -€167,277 | -€99,738 | -€74,410 | ▲ 25.4% |
| Change in cash | - | -€146,464 | €273,977 | €17,591 | €732,960 | ▲ 4,067% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
22-06
State Gazette act
Resignation: Christian Corijn (director)Appointment: Filip De Bruyne (director) · Reappointments: Wouter Baert, René Schepens and 2 others9 facts ▸
State Gazette act
Resignation: Christian Corijn (director)
Appointment: Filip De Bruyne (director) · Reappointments: Wouter Baert, René Schepens and 2 others9 facts ▸
- General meeting, 29-05-2026
- Director resignation, Christian Corijn (director)
- Director appointment, Filip De Bruyne (director)
- Director reappointment, Wouter Baert (director)
- Director reappointment, René Schepens (director)
- Director reappointment, Johny Jonckheere (director)
- Director reappointment, René Schepens (chair of the board)
- Director reappointment, Wouter Baert (managing director)
- Auditor reappointment, BMS&C° (statutory auditor)
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
06-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €23,423
Net result €23,423 after one loss-making year.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€288,471
Net result drops to -€288,471, the lowest in the series; recovery starts the following year.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity doublescurrent ratio 7.76
Current ratio from 3.15 to 7.76; short-term debt falls from €946,661 to €357,679.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €2mEq €2.1m ▲22.1%
2 profitable years in a row build equity to €2.1m.
Show earlier events
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 17 acts read
About the unread acts
Of the 17 Belgian State Gazette acts we know for this company, 1 has been read. The other 16 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26079331). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 4
René Schepens
CurrentChair of the board · Director
Filip De Bruyne
CurrentDirector · since 01-06-2026
Johny Jonckheere
CurrentDirector
Wouter Baert
CurrentDirector
Day-to-day management 1
Wouter Baert
CurrentManaging director
Statutory auditor 1
BMS & C°
CurrentStatutory auditor · since 22-06-2026 · perm. rep.: Paul Moreau
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
16 of this company's 17 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Ieper · 1 establishment unit since 1999
Ground area
7,459 m²
Building footprint
3,447 m²
Volume, LiDAR
16,611 m³
Parcel 33306B0388/00G000, Flanders · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
WESTELEC
since 19992.092.416.197
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33306B0388/00G000 | Flanders | 7,459 m² | 1 · 3,447 m² | 6.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
6 people since 2026, 5 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Filip De Bruyne |
|
| Johny Jonckheere |
|
| René Schepens |
|
| Wouter Baert |
|
| BMS & C° |
|
| Christian Corijn |
|
Structure & network
Part of the group
ELECTRICITE DE FRANCE
66 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
Highest known parent: EDF BELGIUM. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,000 EUR | 1,000 EUR |
| 2024 | 1 | 1,000 EUR | 1,000 EUR |
Recognitions · licences · registrations
Recognised contractor
4 categoriesWESTELEC NV04347
Dual-learning approval
5 live approvalsElektrische installaties duaal (so)
Elektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Elektrotechnisch installateur (vwo)
Installateur elektrotechnische basiscomponenten duaal (so)
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Of 22,818 companies in sector 43211 we hold annual accounts for 10,336. 1,916 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-08-1999
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
Contact
E-mail
info@westelec.be
Phone
057/21.36.70
Fax
057/21.36.80
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466516550
Also
9925:BE0466516550
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.