WICARO
ActiveSummary
WICARO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €132,372 and a net result of -€81,985. Equity is growing by ~28.9% per year across the filed fiscal years. Its solvency ranks better than 36% of 10552 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▼-53
Solvency50▼-3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.29 against 1.31 in 2024; short-term debt: 73.9% and cash: 27.4% of total assets), and 75.3% of the assets are financed with debt.
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Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
24.7%
Return on assets
-15.3%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-04-2026, 4 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
4 d early
2024
on the day
2023
21 d early
2022
3 d early
2021
38 d early
2020
43 d early
2019
36 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 21 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 26 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 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 Is the workforce growing, and do people stay?Employer 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 How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, abbreviated schema
Equity
€132,372▼ 38.2%
2024 · €214,356
Total assets
€535,020▼ 30.4%
2024 · €769,213
Net result
-€81,985
2024 · €31,439
Working capital
€113,939▼ 22.9%
2024 · €147,819
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 47, Retail trade, 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
Line20212022202320242025
Operating result-€8,242€61,875€102,504▲ 65.7%€65,870▼ 35.7%-€54,775
Net result€49,012within the sector's middle half▼ 87.2%€24,276within the sector's middle half▼ 50.5%€52,491within the sector's middle half▲ 116%€31,439within the sector's middle half▼ 40.1%-€81,985below the sector's middle half
Equity€106,151within the sector's middle half▲ 85.8%€130,427within the sector's middle half▲ 22.9%€182,917within the sector's middle half▲ 40.2%€214,356within the sector's middle half▲ 17.2%€132,372within the sector's middle half▼ 38.2%
Total assets€1.0mwithin the sector's middle half▼ 3.0%€892,879within the sector's middle half▼ 14.3%€849,296within the sector's middle half▼ 4.9%€769,213within the sector's middle half▼ 9.4%€535,020within the sector's middle half▼ 30.4%
Debt€936,111▼ 7.9%€762,452▼ 18.6%€666,378▼ 12.6%€554,857▼ 16.7%€402,648▼ 27.4%
Working capital€108,577within the sector's middle half▲ 30.8%€103,787within the sector's middle half▼ 4.4%€139,055within the sector's middle half▲ 34.0%€147,819within the sector's middle half▲ 6.3%€113,939within the sector's middle half▼ 22.9%
Solvency10.2%below the sector's middle half▲ 4.9pp14.6%below the sector's middle half▲ 4.4pp21.5%within the sector's middle half▲ 6.9pp27.9%within the sector's middle half▲ 6.3pp24.7%within the sector's middle half▼ 3.1pp
Current ratio1.22within the sector's middle half▲ 0.041.24within the sector's middle half▲ 0.011.30within the sector's middle half▲ 0.061.31within the sector's middle half▲ 0.011.29within the sector's middle half▼ 0.03
Return on assets (ROA)4.7%within the sector's middle half▼ 31.0pp2.7%within the sector's middle half▼ 2.0pp6.2%within the sector's middle half▲ 3.5pp4.1%within the sector's middle half▼ 2.1pp-15.3%below the sector's middle half▼ 19.4pp
Staff (FTE)14above the sector's middle half▲ 10.2%14.9above the sector's middle half▲ 6.4%14.9above the sector's middle half=17.1above the sector's middle half▲ 14.8%15.9above the sector's middle half▼ 7.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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
The operating result turns negative in 2025: a loss of €54,775 after €65,870 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €531,482
Fixed assets
€22,088 ▼ 84.6%
Current assets
€509,394 ▼ 17.8%
Equity and liabilities €535,020
Equity
€132,372 ▼ 38.2%
Debt
€402,648 ▼ 27.4%
Debt's share of the balance-sheet total rises from 72.1% to 75.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€69,011▼
2024 · €172,918
Cash flow
€41,801▼
2024 · €138,487
Quick ratio
0.53▼
2024 · 0.68
Debt to equity
3.04▲
2024 · 2.59
ROE
-61.9%▼
2024 · 14.7%
Interest coverage
2.54▼
2024 · 6.98
Debt ≤ 1 year
€395,456▼
2024 · €471,983
Staff costs
€519,042▲
2024 · €504,052
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 180 companies that looked in July 2024 the way this one looks now, 5.6% went bankrupt within 24 months and 91% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
5.6%
went bankrupt
2.8%
stopped otherwise
91%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 180 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €15,131 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €533,707 | €515,887 | €504,052 | €519,042 | ▲ 3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €112,968 | €108,630 | €109,965 | €107,048 | €123,786 | ▲ 15.6% |
| Other operating charges640/8 | - | €13,048 | €7,563 | €3,119 | €9,835 | ▲ 215% |
| Gross operating margin9900 | €606,688 | €717,260 | €735,919 | €680,089 | €597,888 | ▼ 12.1% |
| Operating profit (loss)9901 | -€8,242 | €61,875 | €102,504 | €65,870 | -€54,775 | ▼ 183% |
| Financial income75/76B | - | - | €6,113 | €1,949 | €4 | ▼ 99.8% |
| Recurring financial income75 | €106,011 | - | €6,113 | €1,949 | €4 | ▼ 99.8% |
| Financial charges65/66B | - | €29,248 | €35,952 | €24,789 | €27,214 | ▲ 9.8% |
| Recurring financial charges65 | €34,295 | €29,248 | €35,952 | €24,789 | €27,214 | ▲ 9.8% |
| Profit (loss) for the period before taxes9903 | €63,474 | €32,627 | €72,665 | €43,031 | -€81,985 | ▼ 291% |
| Income taxes67/77 | €14,462 | €8,351 | €20,175 | €11,592 | - | - |
| Profit (loss) for the period9904 | €49,012 | €24,276 | €52,491 | €31,439 | -€81,985 | ▼ 361% |
| Profit (loss) for the period to be appropriated9905 | €49,012 | €24,276 | €52,491 | €31,439 | -€81,985 | ▼ 361% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €892,879 | €849,296 | €769,213 | €535,020 | ▼ 30.4% |
| Formation expenses20 | - | €10,631 | €8,266 | €5,902 | €3,537 | ▼ 40.1% |
| Fixed assets21/28 | €447,805 | €341,927 | €235,980 | €143,509 | €22,088 | ▼ 84.6% |
| Tangible fixed assets22/27 | €447,805 | €340,367 | €234,420 | €141,949 | €20,528 | ▼ 85.5% |
| Plant, machinery and equipment23 | - | €20,217 | €13,243 | €18,465 | €12,898 | ▼ 30.1% |
| Other tangible fixed assets26 | - | €320,150 | €221,177 | €123,485 | €7,630 | ▼ 93.8% |
| Financial fixed assets28 | - | €1,560 | €1,560 | €1,560 | €1,560 | = |
| Current assets29/58 | €594,457 | €540,321 | €605,049 | €619,802 | €509,394 | ▼ 17.8% |
| Stocks and contracts in progress3 | €259,822 | €272,533 | €286,345 | €298,691 | €301,471 | ▲ 0.9% |
| Stocks30/36 | - | €272,533 | €286,345 | €298,691 | €301,471 | ▲ 0.9% |
| Amounts receivable within one year40/41 | €129,444 | €76,654 | €45,580 | €66,698 | €52,528 | ▼ 21.2% |
| Trade receivables40 | - | €1,088 | €4,587 | €26,875 | €17,900 | ▼ 33.4% |
| Other amounts receivable41 | - | €75,566 | €40,994 | €39,823 | €34,627 | ▼ 13.0% |
| Cash at bank and in hand54/58 | €202,588 | €188,782 | €266,494 | €247,954 | €146,707 | ▼ 40.8% |
| Deferred charges and accrued income490/1 | - | €2,352 | €6,630 | €6,459 | €8,689 | ▲ 34.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €892,879 | €849,296 | €769,213 | €535,020 | ▼ 30.4% |
| Equity10/15 | €106,151 | €130,427 | €182,917 | €214,356 | €132,372 | ▼ 38.2% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Issued capital100 | - | €100,000 | €150,000 | €150,000 | €150,000 | = |
| Uncalled capital101 | - | - | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €308 | €30,427 | €82,917 | €114,356 | €32,372 | ▼ 71.7% |
| Non-distributable reserves130/1 | - | €10,000 | €15,000 | €15,000 | €15,000 | = |
| Legal reserve130 | - | €10,000 | €15,000 | €15,000 | €15,000 | = |
| Distributable reserves133 | - | €20,427 | €67,917 | €99,356 | €17,372 | ▼ 82.5% |
| Profit (loss) carried forward14 | €5,844 | - | - | - | - | - |
| Amounts payable17/49 | €936,111 | €762,452 | €666,378 | €554,857 | €402,648 | ▼ 27.4% |
| Amounts payable after more than one year17 | €449,610 | €325,918 | €200,384 | €73,086 | - | - |
| Financial debts170/4 | - | €325,918 | €200,384 | €73,086 | - | - |
| Amounts payable within one year42/48 | €485,881 | €436,534 | €465,994 | €471,983 | €395,456 | ▼ 16.2% |
| Current portion of amounts payable after more than one year42 | - | €123,692 | €125,534 | €127,334 | €73,086 | ▼ 42.6% |
| Financial debts43 | - | €16,385 | - | - | - | - |
| Credit institutions430/8 | - | €16,385 | - | - | - | - |
| Trade debts44 | €302,913 | €200,179 | €212,982 | €244,695 | €216,979 | ▼ 11.3% |
| Suppliers440/4 | - | €200,179 | €212,982 | €244,695 | €216,979 | ▼ 11.3% |
| Taxes, remuneration and social security45 | - | €96,277 | €127,478 | €99,953 | €105,391 | ▲ 5.4% |
| Taxes450/3 | - | €2,584 | €21,164 | €6,566 | €127 | ▼ 98.1% |
| Remuneration and social security454/9 | - | €93,693 | €106,314 | €93,387 | €105,264 | ▲ 12.7% |
| Accrued charges and deferred income492/3 | - | - | - | €9,788 | €7,192 | ▼ 26.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,012 | €24,276 | €52,491 | €31,439 | -€81,985 | ▼ 361% |
| + Depreciation and write-downs630 | €112,968 | €108,630 | €109,965 | €107,048 | €123,786 | ▲ 15.6% |
| Operating cash flow (approximation) | €161,980 | €132,906 | €162,455 | €138,487 | €41,801 | ▼ 69.8% |
| Investment in fixed assets (approximation) | - | -€2,752 | -€4,017 | -€14,577 | -€2,365 | ▲ 83.8% |
| Change in cash | - | -€13,806 | €77,712 | -€18,540 | -€101,246 | ▼ 446% |
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
26-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet -€81,985
Net result drops to -€81,985, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Equity above €200,000Eq €214,356 ▲17.2%
6 profitable years in a row build equity to €214,356.
09-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €150,000Eq €182,917 ▲40.2%
5 profitable years in a row build equity to €182,917.
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
23-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €100,000Eq €106,151 ▲85.8%
3 profitable years in a row build equity to €106,151.
18-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Highest result since 2018net €383,099 ▲957%
Operating result €338,960, net result €383,099, both a record.
25-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
30-09
Financial
Back to profitnet €36,250
Net result €36,250 after one loss-making year.
25-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Sint-Genesius-Rode · 1 establishment unit since 2016
Ground area
4,316 m²
Building footprint
869 m²
Volume, LiDAR
5,121 m³
Parcel 22004D0066/00D000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Spar Sint-Genesius-Rode
since 20162.249.316.667
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22004D0066/00D000 | Flanders | 4,316 m² | 1 · 869 m² | 7.0 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.
Structure & network
Owners and holdings
1 ownerChain of control
- GV Retail
- WICARO
Highest known parent: GV Retail. The sources do not say who stands above it.
Owners 1
- GV RetailparentSourceaccounts GV Retail 2024100%
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
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Genesius-Rode/Rhode-Saint-Genèse2.249.316.667
Dual-learning approval
6 endedAanvuller (so)
Kassier (so)
Verkoper (so)
Winkelbediende (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
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Of 10,504 companies in sector 47110 we hold annual accounts for 5,849. 4,517 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
Founded21-12-2015
Fiscal year end30-09
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0644729009
Also
9925:BE0644729009
Registered
13-03-2024
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.