WILL MANAGEMENT
ActiveSummary
WILL MANAGEMENT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €14,447 and a net result of €88,987. Equity is shrinking by ~25.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 16% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency36▲+2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.84 against 0.8 in 2024; short-term debt: 68.9% and cash: 36.9% of total assets), and 89% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
11%
Return on assets
67.7%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 9537 sector peers (2025).
NBB · sector comparisonPosition among 9537 sector peers
Solvency
better than 16%
← weakest
strongest →
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 04-03-2026, 57 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
57 d early
2024
42 d early
2023
43 d early
2022
47 d early
2021
50 d early
2020
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 46 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€14,447▼ 6.6%
2024 · €15,461
Total assets
€131,530▼ 19.6%
2024 · €163,562
Net result
€88,987▲ 22.9%
2024 · €72,401
Working capital
-€14,319▲ 34.1%
2024 · -€21,724
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€74,109▲ 9.8%€59,231▼ 20.1%€100,458▲ 69.6%€96,389▼ 4.1%€116,251▲ 20.6%
Net result€57,990▲ 10.9%€46,034▼ 20.6%€77,750▲ 68.9%€72,401▼ 6.9%€88,987▲ 22.9%
Equity€120,276▲ 93.1%€166,310▲ 38.3%€28,060▼ 83.1%€15,461▼ 44.9%€14,447▼ 6.6%
Total assets€142,918▲ 68.5%€181,534▲ 27.0%€227,589▲ 25.4%€163,562▼ 28.1%€131,530▼ 19.6%
Debt€22,642▲ 0.6%€15,224▼ 32.8%€199,529▲ 1,211%€148,102▼ 25.8%€117,083▼ 20.9%
Working capital€97,081▲ 69.1%€147,223▲ 51.6%-€22,188-€21,724▲ 2.1%-€14,319▲ 34.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2023 Equity -83% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 21% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €131,530
Fixed assets
€55,241 ▼ 28.0%
Current assets
€76,289 ▼ 12.2%
Equity and liabilities €131,530
Equity
€14,447 ▼ 6.6%
Debt
€117,083 ▼ 20.9%
Debt's share of the balance-sheet total falls from 90.5% to 89.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€137,692▲
2024 · €123,743
Cash flow
€110,428▲
2024 · €99,754
Current ratio
0.84▲
2024 · 0.80
Debt to equity
8.10▼
2024 · 9.58
ROE
615.9%▲
2024 · 468.3%
ROA
67.7%▲
2024 · 44.3%
Interest coverage
67.10▲
2024 · 48.91
Debt ≤ 1 year
€90,608▼
2024 · €108,604
Debt > 1 year
€26,475▼
2024 · €39,498
Income taxes
€25,690▲
2024 · €21,604
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,703 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 6,703 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,812 | €8,062 | €11,126 | €27,354 | €21,441 | ▼ 21.6% |
| Other operating charges640/8 | - | €348 | - | €551 | €622 | ▲ 13.0% |
| Gross operating margin9900 | €76,921 | €67,641 | €111,584 | €124,294 | €138,315 | ▲ 11.3% |
| Operating profit (loss)9901 | €74,109 | €59,231 | €100,458 | €96,389 | €116,251 | ▲ 20.6% |
| Financial income75/76B | - | €12 | €617 | €145 | €477 | ▲ 228% |
| Recurring financial income75 | - | €12 | €617 | €145 | €477 | ▲ 228% |
| Financial charges65/66B | - | €161 | €555 | €2,530 | €2,052 | ▼ 18.9% |
| Recurring financial charges65 | €210 | €161 | €555 | €2,530 | €2,052 | ▼ 18.9% |
| Profit (loss) for the period before taxes9903 | €73,899 | €59,082 | €100,520 | €94,005 | €114,676 | ▲ 22.0% |
| Income taxes67/77 | €15,909 | €13,049 | €22,770 | €21,604 | €25,690 | ▲ 18.9% |
| Profit (loss) for the period9904 | €57,990 | €46,034 | €77,750 | €72,401 | €88,987 | ▲ 22.9% |
| Profit (loss) for the period to be appropriated9905 | €57,990 | €46,034 | €77,750 | €72,401 | €88,987 | ▲ 22.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €142,918 | €181,534 | €227,589 | €163,562 | €131,530 | ▼ 19.6% |
| Fixed assets21/28 | €23,213 | €19,087 | €102,254 | €76,682 | €55,241 | ▼ 28.0% |
| Tangible fixed assets22/27 | €23,213 | €19,087 | €102,254 | €76,682 | €55,241 | ▼ 28.0% |
| Furniture and vehicles24 | - | €19,087 | €102,254 | €76,682 | €55,241 | ▼ 28.0% |
| Current assets29/58 | €119,705 | €162,447 | €125,335 | €86,880 | €76,289 | ▼ 12.2% |
| Amounts receivable after more than one year29 | - | €35,000 | - | - | - | - |
| Other amounts receivable291 | - | €35,000 | - | - | - | - |
| Amounts receivable within one year40/41 | €35,516 | €22,566 | €30,354 | €15,220 | €24,471 | ▲ 60.8% |
| Trade receivables40 | - | €20,091 | €21,062 | €15,075 | €24,471 | ▲ 62.3% |
| Other amounts receivable41 | - | €2,475 | €9,292 | €144 | - | - |
| Cash at bank and in hand54/58 | €47,812 | €103,510 | €86,450 | €67,017 | €48,566 | ▼ 27.5% |
| Deferred charges and accrued income490/1 | - | €1,372 | €8,531 | €4,644 | €3,252 | ▼ 30.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €142,918 | €181,534 | €227,589 | €163,562 | €131,530 | ▼ 19.6% |
| Equity10/15 | €120,276 | €166,310 | €28,060 | €15,461 | €14,447 | ▼ 6.6% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €110,276 | €156,310 | €18,060 | €5,461 | €4,447 | ▼ 18.6% |
| Amounts payable17/49 | €22,642 | €15,224 | €199,529 | €148,102 | €117,083 | ▼ 20.9% |
| Amounts payable after more than one year17 | - | - | €52,006 | €39,498 | €26,475 | ▼ 33.0% |
| Financial debts170/4 | - | - | €52,006 | €39,498 | €26,475 | ▼ 33.0% |
| Amounts payable within one year42/48 | €22,624 | €15,224 | €147,523 | €108,604 | €90,608 | ▼ 16.6% |
| Current portion of amounts payable after more than one year42 | - | - | €12,015 | €12,508 | €13,023 | ▲ 4.1% |
| Trade debts44 | €4,451 | €175 | €10,790 | €4,787 | €3,397 | ▼ 29.0% |
| Suppliers440/4 | - | €175 | €10,790 | €4,787 | €3,397 | ▼ 29.0% |
| Taxes, remuneration and social security45 | - | €15,049 | €14,719 | €20,304 | €20,306 | = |
| Taxes450/3 | - | €15,049 | €11,470 | €20,304 | €20,306 | = |
| Remuneration and social security454/9 | - | - | €3,249 | - | - | - |
| Other amounts payable47/48 | - | - | €110,000 | €71,005 | €53,883 | ▼ 24.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,990 | €46,034 | €77,750 | €72,401 | €88,987 | ▲ 22.9% |
| + Depreciation and write-downs630 | €2,812 | €8,062 | €11,126 | €27,354 | €21,441 | ▼ 21.6% |
| Operating cash flow (approximation) | €60,801 | €54,096 | €88,876 | €99,754 | €110,428 | ▲ 10.7% |
| Investment in fixed assets (approximation) | - | -€3,936 | -€94,293 | -€1,782 | €0 | ▲ 100% |
| Change in cash | - | €55,698 | -€17,060 | -€19,433 | -€18,451 | ▲ 5.1% |
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
04-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2020net €88,987 ▲22.9%
Operating result €116,251, net result €88,987, both a record.
19-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €46,034 ▼20.6%
Net result drops to €46,034, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity doublescurrent ratio 10.67
Current ratio from 5.29 to 10.67; short-term debt falls from €22,624 to €15,224.
30-09
Financial
Equity above €150,000Eq €166,310 ▲38.3%
3 profitable years in a row build equity to €166,310.
11-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €100,000Eq €120,276 ▲93.1%
2 profitable years in a row build equity to €120,276.
23-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Chaudfontaine · 1 establishment unit since 2019
Ground area
2,614 m²
Building footprint
97 m²
Volume, LiDAR
634 m³
Parcel 62022C0487/00E002, Wallonia · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
WILL MANAGEMENT
since 20192.293.549.756
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62022C0487/00E002 | Wallonia | 2,614 m² | 1 · 97 m² | 7.6 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.
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 3,504 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-08-2019
Fiscal year end30-09
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
91110Libraries, archives, museums and other cultural activities
Contact
E-mail
denis.wilmotte@will.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0733564181
Also
9925:BE0733564181
Registered
09-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.