Westland
ActiveWestland has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.60M and a net result of €524k. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 74% of 670 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+11
Solvency91▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity ample (current ratio 2.84 against 3.15 in 2024; short-term debt: 31% and cash: 13.3% of total assets), and 33.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
66.2%
Return on assets
13.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
30 d late
2024
25 d late
2023
11 d late
2022
23 d late
2021
18 d early
2020
24 d late
2019
88 d late
← 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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€524k▲ 228%
2024 · €160k
2018: €51k
2019: €34k
2020: €45k
2021: €211k
2022: €154k
2023: €400k
2024: €160k
2018 → 2025
Working capital
€2.24M▼ 6.7%
2024 · €2.40M
2018: €1.97M
2019: €2.20M
2020: €2.29M
2021: €2.30M
2022: €2.27M
2023: €2.50M
2024: €2.40M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.14M-€2.29M▲ 7.0%€2.51M▲ 9.6%€2.37M▼ 5.6%€2.60M▲ 9.5%
Operating result€313k-€207k▼ 33.8%€561k▲ 171%€195k▼ 65.2%€718k▲ 268%
Net result€211k-€154k▼ 27.0%€400k▲ 160%€160k▼ 60.0%€524k▲ 228%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 268% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.93M
Fixed assets
€471k▲ 39.8%
Current assets
€3.46M▼ 1.8%
Equity and liabilities €3.93M
Equity
€2.60M▲ 9.5%
Provisions
€82k▼ 1.2%
Debt
€1.25M▼ 10.9%
The debt ratio falls from 36.3% to 31.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€866k▲
2024 · €328k
Cash flow
€672k▲
2024 · €293k
Solvency
66.2%▲
2024 · 61.6%
Current ratio
2.84▼
2024 · 3.15
Quick ratio
2.73▼
2024 · 2.99
Debt / equity
0.48▼
2024 · 0.59
ROE
20.2%▲
2024 · 6.7%
ROA
13.4%▲
2024 · 4.1%
Interest coverage
46.26▲
2024 · 38.75
Debt
€1.25M▼
2024 · €1.40M
Debt ≤ 1 year
€1.22M▲
2024 · €1.12M
Debt > 1 year
€16k▼
2024 · €267k
Income taxes
€191k▲
2024 · €56k
Staff costs
€1.03M▲
2024 · €952k
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€3.86M€3.93M▲
Fixed assets21/28€337k€471k▲
Tangible fixed assets22/27€337k€471k▲
Land and buildings22€37k€30k▼
Plant, machinery and equipment23€189k€373k▲
Furniture and vehicles24€94k€62k▼
Other tangible fixed assets26€17k€6k▼
Current assets29/58€3.52M€3.46M▼
Stocks and contracts in progress3€180k€135k▼
Stocks30/36€180k€135k▼
Amounts receivable within one year40/41€2.17M€2.80M▲
Trade receivables40€1.93M€2.12M▲
Other amounts receivable41€246k€679k▲
Cash at bank and in hand54/58€1.16M€521k▼
Equity and liabilities
Total equity and liabilities10/49€3.86M€3.93M▲
Equity10/15€2.37M€2.60M▲
Contributions10/11€375k€375k=
Capital10€375k€375k=
Issued capital100€375k€375k=
Reserves13€2.00M€2.22M▲
Non-distributable reserves130/1€38k€38k=
Legal reserve130€38k€38k=
Tax-exempt reserves132€217k€215k▼
Distributable reserves133€1.74M€1.97M▲
Provisions and deferred taxes16€83k€82k▼
Deferred taxes168€83k€82k▼
Amounts payable17/49€1.40M€1.25M▼
Amounts payable after more than one year17€267k€16k▼
Financial debts170/4€267k€16k▼
Amounts payable within one year42/48€1.12M€1.22M▲
Current portion of amounts payable after more than one year42€190k€80k▼
Trade debts44€757k€321k▼
Suppliers440/4€757k€321k▼
Taxes, remuneration and social security45€171k€325k▲
Taxes450/3€44k€207k▲
Remuneration and social security454/9€127k€118k▼
Other amounts payable47/48-€491k
Accrued charges and deferred income492/3€15k€15k▼
Income statement
Code20242025
Non-recurring operating income76A€21k-
Remuneration, social security and pensions62€952k€1.03M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€133k€148k▲
Other operating charges640/8€2k€6k▲
Gross operating margin9900€1.28M€1.90M▲
Operating profit (loss)9901€195k€718k▲
Financial income75/76B€30k€15k▼
Recurring financial income75€30k€15k▼
Financial charges65/66B€8k€19k▲
Recurring financial charges65€8k€19k▲
Profit (loss) for the period before taxes9903€216k€715k▲
Transfer from deferred taxes780-€949
Income taxes67/77€56k€191k▲
Profit (loss) for the period9904€160k€524k▲
Transfer from tax-exempt reserves789-€2k
Profit (loss) for the period to be appropriated9905€160k€527k▲
Appropriation of the result
Profit (loss) to be appropriated9906€160k€527k▲
Transfer from equity791/2€300k-
Transfer to equity691/2€160k€227k▲
To other reserves6921€160k€227k▲
Profit to be distributed694/7€300k€300k=
Return on contributions (dividend)694€300k€300k=
Social balance
Average headcount (FTE)908718.117.6▼
The notes to these accounts (6 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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 30 days late
2025
31-12
Financial
Highest result since 2018net €524k ▲228%
Operating result €718k, net result €524k, both a record.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
11-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 11 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 23 days late
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €2MEq €2.14M ▲10.6%
4 profitable years in a row build equity to €2.14M.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 88 days late
2019
31-12
Financial
Weakest financial yearnet €34k ▼33.6%
Net result drops to €34k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 55 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lo-Reninge · 1 establishment unit since 1977
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.
Tempelare(Ren) 98647 Lo-ReningeGround area
1,659 m²
Building footprint
188 m²
Volume, LiDAR
1,016 m³
Parcel 32021D1161/00G002, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Tempelare(Ren) 9, 8647 Lo-Reninge
since 19772.014.739.587
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32021D1161/00G002 | Flanders | 1,659 m² | 1 · 188 m² | 10.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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 · 10 entries · 21,494 EUR awarded · 21,207 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,576 EUR | 1,335 EUR |
| 2024 | 2 | 3,811 EUR | 3,765 EUR |
| 2023 | 3 | 7,409 EUR | 7,409 EUR |
| 2022 | 3 | 8,698 EUR | 8,698 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Premie kwalificerend werkplekleren
Stagebonus (stopgezet)
Recognitions · licences · registrations
Recognised contractor
2 categoriesWestland NV43576
Dual-learning approval
4 live approvals · 2 endedHoeknaadlasser duaal (so)
Lassen-constructie duaal (so)
Lasser-monteerder (vwo)
Lasser-monteerder duaal (so)
Legal Entity Identifier
9845008589FE41FFBA59
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Of 3,986 companies in sector 25110 we hold annual accounts for 2,147. 953 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-07-1977
Fiscal year end31-12
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
28110
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.