Turnover
≈ €8.1m estimated
The accounts state no turnover.
WESTELEC
Lifetime
20 annual accounts with figures on one time axis, 27 filings since 1999peak €2.9m (2025)
€2.9m▲ 11.2%
lowest -€288,471 (2021)
€741,383▲ 27.9%
peak €3.9m (2025)
€3.9m▲ 23.4%
€829,465▼ 32.2%
peak 32.3 FTE (2006)
24.9 FTE▼ 11.7%
Board11 names since 2020
4 directorsRené Schepens and 3 others
Owners3 names in the annual accounts
Documentsfilings and deeds
24-06-202637 days before the deadline
2025financial year
Result from €579,444 to €741,383Staff from 28.2 FTE to 24.9 FTEEquity from €3.2m to €3.9mDebts from €1.2m to €829,465
Key points
from the 2025 annual accountsStaff
24 employees on 31-12-2025
In 2025, 5 people joined and 8 left.
Liquidity
6.54 was 3.32 in 2024
Short-term debts fell from €1.2m to €680,501.
Filings
27 annual accounts since 1999
The last five annual accounts were filed 36 to 58 days before the end of the period.
Board
1 joined · 1 left
Board changed. Latest change 22-06-2026 · 4 in office.
Position in the sector
82.5%
Higher solvency than 90% of companies in specialised construction. Sector median 42.4% · 2,463 companies.
Checked score
99
Excellent
Financially stronger than 90% of small companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026highest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 6.54, cash €2.8m
Equity €3.9m (82.5% of total assets)
Founded in 1999
Profit of €741,383 (financial year 2025)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, small). It does better than 95% of them on solvency, 98% on liquidity, 88% on profitability and 80% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as WESTELEC has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of WESTELEC itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 20,137 companies, not a prediction for WESTELEC. 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.
Credit verdict
Credit of up to €380,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 6.54 (3.32 in 2024), above the usual 1.5. Short-term debt is 14.4% and cash 58.1% of total assets. 17.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 days early
2024
36 days early
2023
55 days early
2022
47 days early
2021
58 days early
2020
43 days early
2019
9 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 41 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 14 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Advices for Technical Systems 100%score 96equity €77.5m (2025) · 2025 annual accounts of Advices for Technical Systems
- LIRY 100%deed of 17-05-2021
- A.T.S. n.v. consolidatesannual accounts 2025
Recent changes
1 director appointed, 1 resignation, 3 reappointments, 1 statutory auditor reappointed
Resignation: Christian Corijn · Appointment: Filip De Bruyne · Reappointments: Wouter Baert (managing director), René Schepens (chair of the board), Johny Jonckheere and BMS&C° (statutory auditor) · General meeting of 29-05-2026 · Gazette deed
Appointment: Johny Jonckheere (director)
General meeting of 30-05-2024 · Gazette deed
Security firm approval (alarm systems) withdrawn
Decision of 08-03-2024, published on 02-05-2024
1 director appointed, 1 resignation, 1 statutory auditor reappointed
Resignation: Christían Corijn (managing director) · Appointment: Wouter Baert (managing director) · Reappointment: BMS & C° bv (statutory auditor) · General meeting of 25-05-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| WESTELEC Ypres | €4.7m | €2.9m | 82.5% | 24.9 |
| HANSSENS TELECOM Roeselare | €4.6m | €2.9m | 49.6% | 23.7 |
| SKIDATA Zaventem | €4.7m | €3.2m | 33.9% | 23.4 |
| M.D. TECHNOLOGY Marchin | €4.3m | €2.8m | 35.5% | 27.8 |
| DKE Kluisbergen | €5.6m | €2.7m | 60.7% | 24.6 |
| BVH ELEKTRO Zwevegem | €3.4m | €2.8m | 70.9% | 24.7 |
| ELECTRA CONTRACTORS Waregem | €4.7m | €2.6m | 52.1% | 34.3 |
These companies have the same main activity as WESTELEC: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €3.4m and €5.6m, founded between 1996 and 2004.
Official details
Source: KBO- Status
- Active since 03-08-1999Normal situation
- Activity
- General electrical installation workNACE 43211
- Establishment unit
- 2.092.416.1978900 Ypres, since 05-10-1999
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €4.7m▲ 7.9%
- Employeeson 31-12-2025
- 24▼ 17.2%
- Filing
- Filed on 24-06-2026, 37 days before the end of the filing period
Companies linked to WESTELEC
Parent and group
Insights on WESTELEC
WESTELEC has existed since 1999. The gross margin grew from €1.7m in 2006 to €2.9m in 2025.
The gross margin has grown every year since 2021. Solvency rose in 2025 from 72.1% to 82.5% because of the retained profit and lower debts.
Advices for Technical Systems holds all the shares. In June 2023, the Official Gazette published the appointment of Wouter Baert as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about WESTELEC
- What is the company number of WESTELEC?
- The company number of WESTELEC is 0466.516.550. The VAT number is the same number with BE in front: BE 0466.516.550.
- Where is WESTELEC based?
- The registered office is at Paddevijverstraat 50, 8900 Ypres.Company details
- What does WESTELEC do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of WESTELEC?
- WESTELEC is a public limited company (NV).
- When was WESTELEC founded?
- WESTELEC was founded on 03-08-1999.
- Is WESTELEC still active?
- Yes, WESTELEC is an active enterprise in the KBO register.
- How many employees does WESTELEC have?
- WESTELEC had an average of 24.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of WESTELEC?
- The turnover in financial year 2025 is ≈ €8.1m. This figure is estimated from the gross margin of €2.9m and 30 comparable companies (NACE 432). It probably lies between €6.7m and €10.0m.
- Is WESTELEC profitable?
- In financial year 2025, WESTELEC made a profit of €741,383.
- Where can I find the annual accounts of WESTELEC?
- WESTELEC filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of WESTELEC due?
- WESTELEC must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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