WILOEKA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-06-2026 PDF all 4 filings
Turnover
≈ €320,000
Estimated: probably between €270,000 and €380,000
Total assets
€503,708▲ 34.5%
2024 · €374,434
Net result
€132,222▲ 0.8%
2024 · €131,222
Working capital
€339,728▲ 33.1%
2024 · €255,246
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€174,910
▼ 3.1%
2025
20222025
Net result
€132,222
▲ 0.8%
2025
highest quarter of the sector
20222025
Equity
€402,090
▲ 26.9%
2025
highest quarter of the sector
20222025
Total assets
€503,708
▲ 34.5%
2025
highest quarter of the sector
20222025
Debt
€101,618
▲ 76.7%
2025
20222025
Working capital
€339,728
▲ 33.1%
2025
highest quarter of the sector
20222025
Solvency
79.8%
▼ 4.8pp
2025
highest quarter of the sector
20222025
Current ratio
4.34
▼ 1.10
2025
middle half of the sector
20222025
Return on assets (ROA)
26.2%
▼ 8.8pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€99,708-€194,268▲ 94.8%€180,528▼ 7.1%€174,910▼ 3.1%
Net result€78,156above the sector's middle half-€142,550above the sector's middle half▲ 82.4%€131,222above the sector's middle half▼ 7.9%€132,222above the sector's middle half▲ 0.8%
Equity€93,156within the sector's middle half-€235,705within the sector's middle half▲ 153%€316,927above the sector's middle half▲ 34.5%€402,090above the sector's middle half▲ 26.9%
Total assets€135,568within the sector's middle half-€297,281within the sector's middle half▲ 119%€374,434within the sector's middle half▲ 26.0%€503,708above the sector's middle half▲ 34.5%
Debt€42,413-€61,576▲ 45.2%€57,507▼ 6.6%€101,618▲ 76.7%
Working capital€93,156within the sector's middle half-€190,271above the sector's middle half▲ 104%€255,246above the sector's middle half▲ 34.1%€339,728above the sector's middle half▲ 33.1%
Solvency68.7%within the sector's middle half-79.3%above the sector's middle half▲ 10.6pp84.6%above the sector's middle half▲ 5.4pp79.8%above the sector's middle half▼ 4.8pp
Current ratio3.20within the sector's middle half-4.09within the sector's middle half▲ 0.895.44above the sector's middle half▲ 1.354.34within the sector's middle half▼ 1.10
Return on assets (ROA)57.7%above the sector's middle half-48.0%above the sector's middle half▼ 9.7pp35.0%above the sector's middle half▼ 12.9pp26.2%within the sector's middle half▼ 8.8pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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. It is the second fall in a row.
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 €503,708
Fixed assets
€62,362 ▲ 1.1%
Current assets
€441,347 ▲ 41.1%
Equity and liabilities €503,708
Equity
€402,090 ▲ 26.9%
Debt
€101,618 ▲ 76.7%
Debt's share of the balance-sheet total rises from 15.4% to 20.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€189,271▼
2024 · €192,893
Cash flow
€146,582▲
2024 · €143,586
Debt to equity
0.25▲
2024 · 0.18
ROE
32.9%▼
2024 · 41.4%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€101,618▲
2024 · €57,507
Income taxes
€42,596▼
2024 · €49,152
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €49,533 | €28,611 | €15,041 |
| Depreciation and write-downs of the year | - | €4,098 | €12,365 | €14,360 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €4,098 | €12,365 | €14,360 | ▲ 16.1% |
| Other operating charges640/8 | - | - | €141 | €150 | ▲ 6.8% |
| Gross operating margin9900 | €99,708 | €198,367 | €193,033 | €189,421 | ▼ 1.9% |
| Operating profit (loss)9901 | €99,708 | €194,268 | €180,528 | €174,910 | ▼ 3.1% |
| Financial charges65/66B | €339 | €30 | €155 | €92 | ▼ 40.3% |
| Recurring financial charges65 | €339 | €30 | €155 | €92 | ▼ 40.3% |
| Profit (loss) for the period before taxes9903 | €99,369 | €194,238 | €180,373 | €174,818 | ▼ 3.1% |
| Income taxes67/77 | €21,214 | €51,688 | €49,152 | €42,596 | ▼ 13.3% |
| Profit (loss) for the period9904 | €78,156 | €142,550 | €131,222 | €132,222 | ▲ 0.8% |
| Profit (loss) for the period to be appropriated9905 | €78,156 | €142,550 | €131,222 | €132,222 | ▲ 0.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €135,568 | €297,281 | €374,434 | €503,708 | ▲ 34.5% |
| Fixed assets21/28 | - | €45,435 | €61,681 | €62,362 | ▲ 1.1% |
| Tangible fixed assets22/27 | - | €45,435 | €61,681 | €62,362 | ▲ 1.1% |
| Furniture and vehicles24 | - | €45,435 | €51,947 | €38,586 | ▼ 25.7% |
| Other tangible fixed assets26 | - | - | €9,734 | €23,776 | ▲ 144% |
| Current assets29/58 | €135,568 | €251,846 | €312,754 | €441,347 | ▲ 41.1% |
| Amounts receivable within one year40/41 | €60,500 | €322 | €60,500 | €60,500 | = |
| Trade receivables40 | €60,500 | €192 | €60,500 | €60,500 | = |
| Other amounts receivable41 | - | €130 | - | - | - |
| Cash at bank and in hand54/58 | €75,068 | €251,524 | €252,254 | €380,609 | ▲ 50.9% |
| Deferred charges and accrued income490/1 | - | - | - | €238 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €135,568 | €297,281 | €374,434 | €503,708 | ▲ 34.5% |
| Equity10/15 | €93,156 | €235,705 | €316,927 | €402,090 | ▲ 26.9% |
| Contributions10/11 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Capital10 | - | - | €15,000 | €15,000 | = |
| Issued capital100 | - | - | €15,000 | €15,000 | = |
| Reserves13 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Non-distributable reserves130/1 | - | - | €1,500 | €1,500 | = |
| Legal reserve130 | - | - | €1,500 | €1,500 | = |
| Distributable reserves133 | €1,500 | €1,500 | - | - | - |
| Profit (loss) carried forward14 | €76,656 | €219,205 | €300,427 | €385,590 | ▲ 28.3% |
| Amounts payable17/49 | €42,413 | €61,576 | €57,507 | €101,618 | ▲ 76.7% |
| Amounts payable within one year42/48 | €42,413 | €61,576 | €57,507 | €101,618 | ▲ 76.7% |
| Trade debts44 | €241 | - | €184 | €45,777 | ▲ 248× |
| Suppliers440/4 | €241 | - | €184 | €45,777 | ▲ 248× |
| Taxes, remuneration and social security45 | €42,172 | €61,576 | €57,323 | €55,842 | ▼ 2.6% |
| Taxes450/3 | €42,172 | €61,576 | €57,323 | €55,842 | ▼ 2.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78,156 | €142,550 | €131,222 | €132,222 | ▲ 0.8% |
| + Depreciation and write-downs630 | - | €4,098 | €12,365 | €14,360 | ▲ 16.1% |
| Operating cash flow (approximation) | €78,156 | €146,648 | €143,586 | €146,582 | ▲ 2.1% |
| Investment in fixed assets (approximation) | - | - | -€28,611 | -€15,041 | ▲ 47.4% |
| Change in cash | - | €176,455 | €730 | €128,356 | ▲ 176× |
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, 3,127 companies had the same profile as WILOEKA has now. Two years later, 97.2% were still going and 0.8% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
97.2%
was still going
1.9%
stopped otherwise
0.8%
went bankrupt
That fits the bankruptcy probability of WILOEKA 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 3,127 companies, not a prediction for WILOEKA. 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.