Wi Phil Construct
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-10-2025 PDF all 9 filings
Turnover
≈ €310,000
Estimated: probably between €170,000 and €570,000
Total assets
€123,491▲ 82.4%
2024 · €67,694
Net result
€21,707
2024 · -€9,547
Working capital
€50,501▲ 142%
2024 · €20,836
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€29,470
2025
20192025
Net result
€21,707
2025
middle half of the sector
20192025
Equity
€66,369
▲ 48.6%
2025
middle half of the sector
20192025
Total assets
€123,491
▲ 82.4%
2025
middle half of the sector
20192025
Debt
€57,121
▲ 148%
2025
20192025
Working capital
€50,501
▲ 142%
2025
middle half of the sector
20192025
Solvency
53.7%
▼ 12.2pp
2025
middle half of the sector
20192025
Current ratio
1.88
▼ 0.02
2025
middle half of the sector
20192025
Return on assets (ROA)
17.6%
▲ 31.7pp
2025
middle half of the sector
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-€591-€22,583€43,031▲ 90.5%€21,806▼ 49.3%€231,276▲ 961%-€9,619€29,470
Net result-€15,450-€9,227within the sector's middle half€28,667above the sector's middle half▲ 211%€7,961within the sector's middle half▼ 72.2%€196,575above the sector's middle half▲ 25×-€9,547below the sector's middle half€21,707within the sector's middle half
Equity-€24,256--€15,029below the sector's middle half▲ 38.0%-€65,523below the sector's middle half▼ 336%-€57,562below the sector's middle half▲ 12.1%€54,209within the sector's middle half€44,662within the sector's middle half▼ 17.6%€66,369within the sector's middle half▲ 48.6%
Total assets€426,689-€412,111above the sector's middle half▼ 3.4%€377,022above the sector's middle half▼ 8.5%€349,673above the sector's middle half▼ 7.3%€73,752within the sector's middle half▼ 78.9%€67,694within the sector's middle half▼ 8.2%€123,491within the sector's middle half▲ 82.4%
Debt€450,944-€427,140▼ 5.3%€442,545▲ 3.6%€407,235▼ 8.0%€19,543▼ 95.2%€23,032▲ 17.9%€57,121▲ 148%
Working capital-€1,744-€14,645within the sector's middle half-€38,073below the sector's middle half-€52,268below the sector's middle half▼ 37.3%€22,429within the sector's middle half€20,836within the sector's middle half▼ 7.1%€50,501within the sector's middle half▲ 142%
Solvency-5.7%--3.6%below the sector's middle half▲ 2.0pp-17.4%below the sector's middle half▼ 13.7pp-16.5%below the sector's middle half▲ 0.9pp73.5%above the sector's middle half▲ 90.0pp66.0%above the sector's middle half▼ 7.5pp53.7%within the sector's middle half▼ 12.2pp
Current ratio0.96-1.36within the sector's middle half▲ 0.390.46below the sector's middle half▼ 0.900.34below the sector's middle half▼ 0.122.15within the sector's middle half▲ 1.811.90within the sector's middle half▼ 0.241.88within the sector's middle half▼ 0.02
Return on assets (ROA)-3.6%-2.2%within the sector's middle half▲ 5.9pp7.6%within the sector's middle half▲ 5.4pp2.3%within the sector's middle half▼ 5.3pp266.5%above the sector's middle half▲ 264.3pp-14.1%below the sector's middle half▼ 280.6pp17.6%within the sector's middle half▲ 31.7pp
Staff (FTE)1-0.8below the sector's middle half▼ 20.0%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €29,470, after a loss of €9,619 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €123,491
Fixed assets
€15,868 ▼ 33.4%
Current assets
€107,622 ▲ 145%
Equity and liabilities €123,491
Equity
€66,369 ▲ 48.6%
Debt
€57,121 ▲ 148%
Debt's share of the balance-sheet total rises from 34.0% to 46.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€43,552▲
2024 · €4,710
Cash flow
€35,789▲
2024 · €4,781
Quick ratio
1.87▲
2024 · 1.69
Debt to equity
0.86▲
2024 · 0.52
ROE
32.7%▲
2024 · -21.4%
Interest coverage
89.40▲
2024 · 26.06
Debt ≤ 1 year
€57,121▲
2024 · €23,032
Income taxes
€7,276▲
2024 · €152
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €341,000 | - | - | - |
| Carrying value of the mortgaged assets | €279,751 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €4,811 | €1,979 | €6,374 | €6,125 |
| Depreciation and write-downs of the year | €27,269 | €12,951 | €14,328 | €14,082 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €200,248 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,211 | €25,446 | €24,065 | €27,269 | €12,951 | €14,328 | €14,082 | ▼ 1.7% |
| Other operating charges640/8 | - | - | - | €4,127 | €2,517 | - | €954 | - |
| Non-recurring operating charges66A | - | - | - | - | €1,220 | - | - | - |
| Gross operating margin9900 | €67,049 | €57,625 | €70,884 | €53,203 | €247,963 | €4,710 | €44,506 | ▲ 845% |
| Operating profit (loss)9901 | -€591 | €22,583 | €43,031 | €21,806 | €231,276 | -€9,619 | €29,470 | - |
| Financial income75/76B | - | - | - | - | - | €405 | €0 | ▼ 100.0% |
| Recurring financial income75 | €2,059 | €1,500 | €10 | - | - | €405 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €13,685 | €16,238 | €181 | €487 | ▲ 170% |
| Recurring financial charges65 | - | €14,830 | €14,367 | €13,685 | €16,238 | €181 | €487 | ▲ 170% |
| Profit (loss) for the period before taxes9903 | -€15,305 | €9,253 | €28,674 | €8,121 | €215,039 | -€9,395 | €28,983 | - |
| Income taxes67/77 | €145 | €26 | €7 | €160 | €18,464 | €152 | €7,276 | ▲ 48× |
| Profit (loss) for the period9904 | -€15,450 | €9,227 | €28,667 | €7,961 | €196,575 | -€9,547 | €21,707 | - |
| Profit (loss) for the period to be appropriated9905 | -€15,450 | €9,227 | €28,667 | €7,961 | €196,575 | -€9,547 | €21,707 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €426,689 | €412,111 | €377,022 | €349,673 | €73,752 | €67,694 | €123,491 | ▲ 82.4% |
| Fixed assets21/28 | €380,907 | €356,357 | €344,962 | €322,504 | €31,780 | €23,826 | €15,868 | ▼ 33.4% |
| Intangible fixed assets21 | €54,000 | €46,000 | €38,000 | €30,000 | €22,000 | €14,000 | €6,000 | ▼ 57.1% |
| Tangible fixed assets22/27 | €326,814 | €310,264 | €306,869 | €292,411 | €9,687 | €9,733 | €9,775 | ▲ 0.4% |
| Land and buildings22 | - | - | - | €279,752 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €783 | €558 | €1,456 | €2,328 | ▲ 59.9% |
| Furniture and vehicles24 | - | - | - | €11,652 | €9,129 | €8,277 | €7,447 | ▼ 10.0% |
| Leasing and similar rights25 | - | - | - | €224 | - | - | - | - |
| Financial fixed assets28 | €93 | €93 | €93 | €93 | €93 | €93 | €93 | = |
| Current assets29/58 | €45,782 | €55,754 | €32,060 | €27,169 | €41,972 | €43,868 | €107,622 | ▲ 145% |
| Stocks and contracts in progress3 | - | - | - | - | - | €5,000 | €1,000 | ▼ 80.0% |
| Stocks30/36 | - | - | - | - | - | €5,000 | €1,000 | ▼ 80.0% |
| Amounts receivable within one year40/41 | €42,708 | €55,232 | €31,998 | €20,519 | €34,947 | €31,211 | €92,762 | ▲ 197% |
| Trade receivables40 | - | - | - | €19,844 | €4,317 | €13,603 | €92,762 | ▲ 582% |
| Other amounts receivable41 | - | - | - | €675 | €30,630 | €17,607 | - | - |
| Current investments50/53 | - | €522 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €224 | - | €62 | €6,298 | €7,025 | €6,963 | €11,687 | ▲ 67.8% |
| Deferred charges and accrued income490/1 | - | - | - | €352 | - | €694 | €2,173 | ▲ 213% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €426,689 | €412,111 | €377,022 | €349,673 | €73,752 | €67,694 | €123,491 | ▲ 82.4% |
| Equity10/15 | -€24,256 | -€15,029 | -€65,523 | -€57,562 | €54,209 | €44,662 | €66,369 | ▲ 48.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €163,964 | €165,824 | €86,663 | €86,663 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €84,803 | - | - | - | - |
| Profit (loss) carried forward14 | -€206,820 | -€199,453 | -€170,786 | -€162,825 | €33,749 | €24,202 | €45,909 | ▲ 89.7% |
| Amounts payable17/49 | €450,944 | €427,140 | €442,545 | €407,235 | €19,543 | €23,032 | €57,121 | ▲ 148% |
| Amounts payable after more than one year17 | €402,242 | €386,031 | €372,412 | €327,798 | - | - | - | - |
| Financial debts170/4 | - | - | - | €327,798 | - | - | - | - |
| Amounts payable within one year42/48 | €47,526 | €41,109 | €70,133 | €79,437 | €19,543 | €23,032 | €57,121 | ▲ 148% |
| Current portion of amounts payable after more than one year42 | - | - | - | €14,018 | - | - | - | - |
| Trade debts44 | €26,281 | €18,910 | €13,164 | €33,015 | €1,090 | €7,333 | €21,724 | ▲ 196% |
| Suppliers440/4 | - | - | - | €33,015 | €1,090 | €7,333 | €21,724 | ▲ 196% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €20,000 | - |
| Taxes, remuneration and social security45 | - | - | - | €340 | €18,453 | €15,699 | €10,019 | ▼ 36.2% |
| Taxes450/3 | - | - | - | €340 | €18,453 | €15,699 | €10,019 | ▼ 36.2% |
| Other amounts payable47/48 | - | - | - | €32,065 | - | - | €5,378 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,450 | €9,227 | €28,667 | €7,961 | €196,575 | -€9,547 | €21,707 | - |
| + Depreciation and write-downs630 | €33,211 | €25,446 | €24,065 | €27,269 | €12,951 | €14,328 | €14,082 | ▼ 1.7% |
| Operating cash flow (approximation) | €17,761 | €34,673 | €52,732 | €35,230 | €209,526 | €4,781 | €35,789 | ▲ 649% |
| Investment in fixed assets (approximation) | - | -€896 | -€12,670 | -€4,811 | €277,773 | -€6,374 | -€6,125 | ▲ 3.9% |
| Change in cash | - | - | - | €6,236 | €727 | -€61 | €4,724 | - |
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, 34,693 companies had the same profile as Wi Phil Construct has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
The bankruptcy probability of Wi Phil Construct itself is higher: 2.5% within 12 months. It rests on far more data about Wi Phil Construct than the profile alone.
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 34,693 companies, not a prediction for Wi Phil Construct. 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.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 31-10-2025 | 2025-00559915 | |
| 31-03-2024 | micro format | 04-11-2024 | 2024-00528263 | |
| 31-03-2023 | micro format | 07-10-2023 | 2023-00479303 | |
| 31-03-2022 | micro format | 30-10-2022 | 2022-20479167 | |
| 31-03-2021 | micro format | 26-10-2021 | 2021-73100100 | |
| 31-03-2020 | micro format | 29-10-2020 | 2020-64700199 | |
| 31-03-2019 | micro format | 28-10-2019 | 2019-71900281 | |
| 31-03-2018 | micro format | 27-11-2018 | 2018-73000546 | |
| 31-03-2017 | micro format | 30-11-2017 | 2017-70900377 |