WIBI
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 25 filings
Turnover
≈ €590,000
Estimated: probably between €560,000 and €730,000
EBIT margin
Not included in this filing
Net result
€546,363▲ 2.3%
2024 · €534,147
Working capital
€1.8m▼ 29.1%
2024 · €2.5m
In the rankings
#7 company by total assets in Tienen, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€402,428
▼ 3.3%
2025
20182025
Net result
€546,363
▲ 2.3%
2025
highest quarter of the sector
20182025
Equity
€920,867
▼ 21.6%
2025
middle half of the sector
20182025
Total assets
€4.1m
▼ 9.6%
2025
middle half of the sector
20182025
Debt
€3.1m
▼ 5.4%
2025
20182025
Working capital
€1.8m
▼ 29.1%
2025
highest quarter of the sector
20182025
Solvency
22.7%
▼ 3.5pp
2025
middle half of the sector
20182025
Current ratio
4.98
▼ 6.91
2025
highest quarter of the sector
20182025
Return on assets (ROA)
13.5%
▲ 1.6pp
2025
highest quarter of the sector
20182025
Staff (FTE)
0
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.2m▲ 0.3%€0.2m▼ 0.8%€0.3m▲ 67.1%€0.4m▲ 3.0%€0.4m▲ 13.8%€0.4m▲ 3.5%€0.4m▼ 3.3%
Net result€0.1m-€0.1m▲ 6.0%€0.1mabove the sector's middle half▲ 3.4%€0.2mabove the sector's middle half▲ 69.1%€0.3mabove the sector's middle half▲ 2.8%€0.5mabove the sector's middle half▲ 102%€0.5mabove the sector's middle half▲ 3.9%€0.5mabove the sector's middle half▲ 2.3%
Equity€0.3m-€0.3m▲ 14.5%€0.4mwithin the sector's middle half▲ 14.1%€0.5mwithin the sector's middle half▲ 39.4%€0.7mwithin the sector's middle half▲ 29.5%€0.6mwithin the sector's middle half▼ 5.3%€1.2mwithin the sector's middle half▲ 83.4%€0.9mwithin the sector's middle half▼ 21.6%
Total assets€1.2m-€1.1m▼ 6.1%€1.4mwithin the sector's middle half▲ 20.5%€3.7mwithin the sector's middle half▲ 168%€4.1mwithin the sector's middle half▲ 12.0%€4.1mwithin the sector's middle half▼ 0.4%€4.5mwithin the sector's middle half▲ 9.1%€4.1mwithin the sector's middle half▼ 9.6%
Debt€0.9m-€0.8m▼ 12.5%€1.0m▲ 23.0%€3.2m▲ 216%€3.5m▲ 9.1%€3.5m▲ 0.6%€3.3m▼ 4.6%€3.1m▼ 5.4%
Working capital€0.06m-€0.09m▲ 45.5%€0.08mwithin the sector's middle half▼ 7.5%€2.5mabove the sector's middle half▲ 29×€2.5mabove the sector's middle half▲ 2.2%€2.2mabove the sector's middle half▼ 11.9%€2.5mabove the sector's middle half▲ 14.7%€1.8mabove the sector's middle half▼ 29.1%
Solvency23.5%-28.7%▲ 5.2pp27.2%within the sector's middle half▼ 1.5pp14.1%within the sector's middle half▼ 13.1pp16.4%within the sector's middle half▲ 2.2pp15.6%within the sector's middle half▼ 0.8pp26.2%within the sector's middle half▲ 10.6pp22.7%within the sector's middle half▼ 3.5pp
Current ratio1.27-1.50▲ 0.231.44within the sector's middle half▼ 0.0713.76above the sector's middle half▲ 12.329.80above the sector's middle half▼ 3.964.51above the sector's middle half▼ 5.2911.89above the sector's middle half▲ 7.384.98above the sector's middle half▼ 6.91
Return on assets (ROA)11.0%-12.4%▲ 1.4pp10.6%above the sector's middle half▼ 1.8pp6.7%above the sector's middle half▼ 3.9pp6.2%above the sector's middle half▼ 0.5pp12.5%above the sector's middle half▲ 6.3pp11.9%above the sector's middle half▼ 0.6pp13.5%above the sector's middle half▲ 1.6pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 3% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€1.8m ▲ 5.1%
Current assets
€2.2m ▼ 18.7%
Equity and liabilities €4.1m
Equity
€920,867 ▼ 21.6%
Debt
€3.1m ▼ 5.4%
Debt's share of the balance-sheet total rises from 73.8% to 77.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€499,313▲
2024 · €484,356
Cash flow
€643,249▲
2024 · €602,332
Debt to equity
3.41▲
2024 · 2.82
ROE
59.3%▲
2024 · 45.5%
Interest coverage
15.30▼
2024 · 28.87
Debt ≤ 1 year
€451,677▲
2024 · €232,895
Debt > 1 year
€2.7m▼
2024 · €3.1m
Income taxes
€182,121▲
2024 · €178,049
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €816,365 | €1.0m | €964,790 | €1.5m | €1.3m |
| Mortgages, amount registered | €25,000 | €25,000 | €25,000 | €25,000 | €495,790 |
| Mortgage mandates | - | - | - | - | €1.5m |
| Carrying value of the mortgaged assets | €1.0m | €1.3m | €1.3m | €1.7m | €1.1m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €359,837 | - | €513,769 | €184,517 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €57,147 | €64,789 | €62,359 | €68,185 | €96,885 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,878 | €53,298 | €67,264 | €57,147 | €64,789 | €62,359 | €68,185 | €96,885 | ▲ 42.1% |
| Other operating charges640/8 | - | - | - | €27,047 | €27,305 | €29,697 | €31,259 | €31,812 | ▲ 1.8% |
| Gross operating margin9900 | €282,471 | €281,960 | €298,250 | €427,164 | €445,279 | €494,046 | €515,615 | €531,125 | ▲ 3.0% |
| Operating profit (loss)9901 | €206,165 | €206,811 | €205,195 | €342,969 | €353,184 | €401,990 | €416,170 | €402,428 | ▼ 3.3% |
| Financial income75/76B | - | - | - | - | €2,300 | €309,388 | €312,800 | €358,684 | ▲ 14.7% |
| Recurring financial income75 | €49 | - | €2,981 | - | €2,300 | €309,388 | €312,800 | €358,684 | ▲ 14.7% |
| Financial charges65/66B | - | - | - | €13,119 | €16,014 | €19,760 | €16,775 | €32,628 | ▲ 94.5% |
| Recurring financial charges65 | €13,099 | €7,360 | €12,997 | €13,119 | €16,014 | €19,760 | €16,775 | €32,628 | ▲ 94.5% |
| Profit (loss) for the period before taxes9903 | €193,114 | €199,450 | €195,179 | €329,850 | €339,470 | €691,618 | €712,195 | €728,484 | ▲ 2.3% |
| Income taxes67/77 | €59,605 | €57,890 | €48,795 | €82,280 | €84,868 | €177,376 | €178,049 | €182,121 | ▲ 2.3% |
| Profit (loss) for the period9904 | €133,509 | €141,560 | €146,384 | €247,571 | €254,603 | €514,242 | €534,147 | €546,363 | ▲ 2.3% |
| Profit (loss) for the period to be appropriated9905 | €133,509 | €141,560 | €146,384 | €247,571 | €254,603 | €514,242 | €534,147 | €546,363 | ▲ 2.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.1m | €1.4m | €3.7m | €4.1m | €4.1m | €4.5m | €4.1m | ▼ 9.6% |
| Fixed assets21/28 | €0.9m | €0.9m | €1.1m | €1.0m | €1.3m | €1.3m | €1.7m | €1.8m | ▲ 5.1% |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €1.1m | €1.0m | €1.3m | €1.3m | €1.7m | €1.8m | ▲ 5.1% |
| Land and buildings22 | - | - | - | €1.0m | €1.3m | €1.3m | €1.7m | €1.8m | ▲ 5.2% |
| Plant, machinery and equipment23 | - | - | - | - | €0.009m | €0.007m | €0.005m | €0.003m | ▼ 36.4% |
| Current assets29/58 | €0.3m | €0.3m | €0.3m | €2.6m | €2.8m | €2.8m | €2.8m | €2.2m | ▼ 18.7% |
| Amounts receivable after more than one year29 | - | - | - | €2.3m | €2.3m | €2.3m | €2.0m | €1.5m | ▼ 25.0% |
| Other amounts receivable291 | - | - | - | €2.3m | €2.3m | €2.3m | €2.0m | €1.5m | ▼ 25.0% |
| Amounts receivable within one year40/41 | - | - | €0.001m | €0.004m | €0.1m | €0.03m | €0.2m | €0.3m | ▲ 83.4% |
| Trade receivables40 | - | - | - | €0.001m | €0.008m | €0.03m | €0.03m | €0.003m | ▼ 90.4% |
| Other amounts receivable41 | - | - | - | €0.004m | €0.1m | €0.001m | €0.2m | €0.3m | ▲ 115% |
| Current investments50/53 | €0.04m | €0.04m | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | €0.6m | €0.3m | ▼ 40.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.007m | €0.01m | €0.01m | €0.06m | ▲ 564% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.1m | €1.4m | €3.7m | €4.1m | €4.1m | €4.5m | €4.1m | ▼ 9.6% |
| Equity10/15 | €0.3m | €0.3m | €0.4m | €0.5m | €0.7m | €0.6m | €1.2m | €0.9m | ▼ 21.6% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.2m | €0.2m | €0.3m | €0.4m | €0.6m | €0.5m | €1.1m | €0.8m | ▼ 23.7% |
| Non-distributable reserves130/1 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Legal reserve130 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Tax-exempt reserves132 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.5m | €0.4m | €1.0m | €0.7m | ▼ 26.4% |
| Profit (loss) carried forward14 | - | - | - | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.9m | €0.8m | €1.0m | €3.2m | €3.5m | €3.5m | €3.3m | €3.1m | ▼ 5.4% |
| Amounts payable after more than one year17 | €0.7m | €0.6m | €0.8m | €3.0m | €3.2m | €2.8m | €3.1m | €2.7m | ▼ 12.9% |
| Financial debts170/4 | - | - | - | €0.7m | €0.9m | €0.8m | €1.3m | €1.2m | ▼ 11.0% |
| Trade debts175 | - | - | - | €2.3m | €2.3m | €2.0m | €1.8m | €1.5m | ▼ 14.3% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | €0.2m | €0.5m | ▲ 93.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 1.7% |
| Financial debts43 | - | - | - | - | €0.03m | €0.03m | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | €0.03m | €0.03m | €0 | - | - |
| Trade debts44 | €115 | €0.001m | €232 | €0.003m | €0.04m | €0.008m | €0.006m | €0.01m | ▲ 104% |
| Suppliers440/4 | - | - | - | €0.003m | €0.04m | €0.008m | €0.006m | €0.01m | ▲ 104% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.005m | €0.1m | €0.1m | €0.02m | ▼ 84.6% |
| Taxes450/3 | - | - | - | - | €0.005m | €0.1m | €0.1m | €0.02m | ▼ 84.6% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.4m | €0 | €0.3m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.002m | €0.001m | €0.001m | €0.001m | ▼ 12.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €133,509 | €141,560 | €146,384 | €247,571 | €254,603 | €514,242 | €534,147 | €546,363 | ▲ 2.3% |
| + Depreciation and write-downs630 | €54,878 | €53,298 | €67,264 | €57,147 | €64,789 | €62,359 | €68,185 | €96,885 | ▲ 42.1% |
| Operating cash flow (approximation) | €188,387 | €194,859 | €213,648 | €304,718 | €319,392 | €576,601 | €602,332 | €643,249 | ▲ 6.8% |
| Investment in fixed assets (approximation) | - | €0 | -€295,838 | €0 | -€359,837 | €0 | -€513,769 | -€184,517 | ▲ 64.1% |
| Change in cash | - | €16,113 | €46,111 | €94,241 | €57,971 | €124,049 | €21,248 | -€231,420 | - |
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, 2,613 companies had the same profile as WIBI has now. Two years later, 97.3% were still going and 0.7% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
97.3%
was still going
2.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of WIBI 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 2,613 companies, not a prediction for WIBI. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 22-07-2026 | 2026-00344810 | |
| 31-12-2024 | abbreviated format | 16-07-2025 | 2025-00294002 | |
| 31-12-2023 | abbreviated format | 04-07-2024 | 2024-00211536 | |
| 31-12-2022 | abbreviated format | 26-06-2023 | 2023-00154781 | |
| 31-12-2021 | abbreviated format | 15-06-2022 | 2022-20063993 | |
| 31-12-2020 | abbreviated format | 05-07-2021 | 2021-30100374 | |
| 31-12-2019 | abbreviated format | 08-06-2020 | 2020-15000219 | |
| 31-12-2018 | abbreviated format | 03-07-2019 | 2019-27100482 | |
| 31-12-2017 | abbreviated format | 26-07-2018 | 2018-37600435 | |
| 31-12-2016 | abbreviated format | 24-07-2017 | 2017-34900589 |