Turnover
€231.5m ▲ 86.6%
Turnover rose in 2025: merger with COSIMCO.
Willemen Bouw
Lifetime
18 annual accounts with figures on one time axis, 23 filings since 2003peak €231.5m (2025)
€231.5m▲ 86.6%
lowest -€12.6m (2022)
€10.5m▲ €12.4m
peak €30.3m (2025)
€30.3m▲ 53.1%
€119.7m▲ 71.6%
peak 312.2 FTE (2025)
312.2 FTE▲ 83.3%
Board22 names since 2009all names
6 directorsTom Willemen and 5 others
Owners2 names in the annual accounts
99.99%WILLEMEN GROEP and 1 other
Documentsfilings and deeds
08-07-202623 days before the deadline
2025financial year
Turnover from €124.1m to €231.5mBack to profit: €10.5mStaff from 170.3 FTE to 312.2 FTEMerger: WILLEMEN CONSTRUCT takes over TOOLS 02-06Merger proposal: WILLEMEN CONSTRUCT NV takes over TOOLS NV 14-03Merger proposal: WILLEMEN CONSTRUCT NV takes over COSIMCO NV 14-03
Key points
from the 2025 annual accountsDebts
€119.7m ▲ 71.6%
Debts rose by €50.0m in 2025.
Securities
€32.7m
Mortgage mandates, new in 2025. 1.1 times equity · not in the 2024 accounts.
Investments
€17.0m 24.7 × depreciation
Green is investment, beige is depreciation. Machinery stands 586.8% higher than in 2024.
Staff
393 employees on 31-12-2025
In 2025, 263 people joined and 44 left. On top of that, 5.3 agency workers worked there on average.
Restructuring
2
2 restructurings since 2025. Latest: merger with COSIMCO.
Checked score
84
Excellent
Financially stronger than 50% of all companies
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 23 companies (NACE 41, large).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.8%▲ +0.1 percentage points vs 05-2025
07-2025: 0.9%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.5%▼ -0.4 percentage points vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.6%▲ +0.1 percentage points vs 06-2026
08-2026: 0.4%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: 0.4%● unchanged vs 08-2026lowest value
10-2026: 0.4%● unchanged vs 09-2026lowest value
11-2026: 0.4%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.21, cash €9.2m
Sector: Construction of residential and non-residential buildings (NACE 41)
Equity €30.3m (20.0% of total assets)
lowers risk
Founded in 2003
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (all companies). It does better than 32% of them on solvency, 13% on liquidity, 60% on profitability and 95% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 101 companies had the same profile as Willemen Bouw has now. Each dot is one company, two years later.
97.0%
were still trading
1.0%
stopped another way
2.0%
went bankrupt
The bankruptcy probability of Willemen Bouw itself is lower: 0.4% within 12 months. It rests on far more data about Willemen Bouw than the profile alone.
Test of the method
The method was tested on the 497,448 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 101 companies, not a prediction for Willemen Bouw. 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.
Credit verdict
Credit of up to €2,500,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.21 (0.94 in 2024), below the usual 1.5. Short-term debt is 72.9% and cash 6.1% of total assets. 80% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 days early
2024
31 days early
2023
21 days early
2022
5 days early
2021
24 days early
2020
32 days early
2019
38 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 25 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 8 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
JW
Johan Willemen
Managing director
- WILLEMEN GROEP 99.99%score 63equity €33.4m (2025) · annual accounts 2025
- Johan Willemen 0.01%annual accounts 2025
Shares in 5 companies, including DBM Politie Zaventem and FRANKI
Board & ownershipRecent changes
Reappointment: EY Bedrijfsrevisoren (statutory auditor)
General meeting of 25-06-2024 · Gazette deed
4 directors appointed, 5 resignations
Resignations: Johan Wiliemen, Willemen Groep nv, MaNaJo Beheer CommV, Socado bv and White Art Centre cv · Appointments: Tom Willemen (managing director), MaNaJo Beheer CommV (managing director), Johan Willemen and Sidharta Consulting bv · Permanent representatives: Tom Willemen, Marc Jonckheere, Johan Ceyssens, Karel De Boeck, Django Liénart, Bart Janssens and 2 others · General meeting of 30-06-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Willemen Bouw Mechelen | €231.5m | 6.1% | 20.0% | 312.2 |
| VANHOUT Geel | €125.0m | 2.7% | 20.6% | 144.6 |
| BPC Group Auderghem | €209.2m | 0.6% | 13.1% | 301 |
| BAM Interbuild Antwerp | €103.6m | 2.8% | 38.3% | 158 |
| MBG Antwerp | €100.8m | 13.4% | 20.4% | 181.5 |
| HERPAIN ENTREPRISE Uccle | €86.1m | 1.0% | 6.3% | 83.7 |
| Entreprises Gilles Moury Ans | €96.8m | 11.3% | 16.8% | 144.7 |
Grey: the largest companies of the sector (construction of buildings (NACE 41)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Willemen Bouw: general construction of office buildings (NACE 41002). They are comparable in size and age: total assets between €35m and €148m, founded between 1964 and 1989.
Official details
Source: KBO- Status
- Active since 31-07-2003Normal situation
- Registered office
- 42 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- General construction of office buildingsNACE 41002and 5 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.132.948.8362800 Mechelen, since 31-07-2003
- 2.278.859.9963500 Hasselt, since 01-07-2018and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €151.1m▲ 67.0%
- Employeeson 31-12-2025
- 393▲ 127%
- Filing
- Filed on 08-07-2026, 23 days before the end of the filing period
Companies linked to Willemen Bouw
Parent and group
Subsidiaries and holdings
- Mijnpark woon en promotie33.33%
- SION NETEZICHT33.33%
- W-CARE0.01%
Insights on Willemen Bouw
Willemen Bouw has existed since 2003. In 2013 turnover rose from €103.2m to €212.8m.
WILLEMEN GROEP holds all the shares. In July 2023, three directors stepped down. In July 2023, the Official Gazette published the appointment of Tom Willemen as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Willemen Bouw
- What is the company number of Willemen Bouw?
- The company number of Willemen Bouw is 0859.869.762. The VAT number is the same number with BE in front: BE 0859.869.762.
- Where is Willemen Bouw based?
- The registered office is at Boerenkrijgstraat 133, 2800 Mechelen.Company details
- What does Willemen Bouw do?
- According to the KBO register, the main activity is general construction of office buildings (NACE 41002).
- What is the legal form of Willemen Bouw?
- Willemen Bouw is a public limited company (NV).
- When was Willemen Bouw founded?
- Willemen Bouw was founded on 31-07-2003.
- Is Willemen Bouw still active?
- Yes, Willemen Bouw is an active enterprise in the KBO register.
- How many employees does Willemen Bouw have?
- Willemen Bouw had an average of 312.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Willemen Bouw fall under?
- In its 2025 annual accounts, Willemen Bouw states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Willemen Bouw?
- The turnover of Willemen Bouw was €231.5m in financial year 2025, according to the filed annual accounts.
- Is Willemen Bouw profitable?
- In financial year 2025, Willemen Bouw made a profit of €10.5m.
- Where can I find the annual accounts of Willemen Bouw?
- Willemen Bouw filed 23 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Willemen Bouw due?
- Willemen Bouw must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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