Result
-€66,094 -€66,094
From profit to loss in 2025, after a profit of €12,439 in 2024.
WINALPHA
Lifetime
10 annual accounts with figures on one time axispeak €164,126 (2016)
€17,539▼ 76.1%
lowest -€66,094 (2025)
-€66,094▼ €78,533
peak €276,557 (2024)
€210,463▼ 23.9%
€275,582▼ 43.8%
Board1 name since 2014
1 directorELESA
Documentsfilings and deeds
25-08-202625 days late
2025abbreviated format
Gross margin from €73,300 to €17,539Loss of €66,094Amendment of the articles 20-03Equity from €276,557 to €210,463Debts from €490,375 to €275,582Cash from €7,324 to €89,354
Key points
from the 2025 annual accountsChecked score
67
Healthy
Financially stronger than 50% of micro companies in real estate (NACE 68)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.8%▲ +0.7 percentage points vs 12-2024
02-2025: 1.0%▲ +0.2 percentage points vs 01-2025
03-2025: 1.0%● unchanged vs 02-2025
04-2025: 1.0%● unchanged vs 03-2025
05-2025: 1.0%● unchanged vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.0%● unchanged vs 06-2025
08-2025: 1.0%● unchanged vs 07-2025
09-2025: 1.0%● unchanged vs 08-2025
10-2025: 1.1%▲ +0.1 percentage points vs 09-2025
11-2025: 1.5%▲ +0.4 percentage points vs 10-2025
12-2025: 1.9%▲ +0.4 percentage points vs 11-2025
01-2026: 3.1%▲ +1.2 percentage points vs 12-2025
02-2026: 3.3%▲ +0.2 percentage points vs 01-2026
03-2026: 3.8%▲ +0.5 percentage points vs 02-2026
04-2026: 5.2%▲ +1.4 percentage points vs 03-2026
05-2026: 5.2%● unchanged vs 04-2026
06-2026: 5.2%● unchanged vs 05-2026highest value
07-2026: 4.7%▼ -0.5 percentage points vs 06-2026
08-2026: 4.7%● unchanged vs 07-2026
09-2026: 0.9%▼ -3.8 percentage points vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Loss of €66,094 (financial year 2025)
1 change of registered office in 24 months
Last filed accounts filed 25 days late; 1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 79.89, cash €89,354
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 (NACE 68, micro). It does better than 59% of them on solvency, 82% on liquidity and 10% on profitability.
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 low class on 30-06-2025, 0.8% 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, 376 companies had the same profile as WINALPHA has now. Each dot is one company, two years later.
91.8%
were still trading
7.2%
stopped another way
0.8%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WINALPHA itself: 0.9% within 12 months.
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 376 companies, not a prediction for WINALPHA. 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 €14,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 79.89 (3.0 in 2024), above the usual 1.5. Short-term debt is 1.1% and cash 18.4% of total assets. However, 56.7% 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 risk
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
25 days late
2024
69 days late
2023
on the day
2022
30 days late
2021
25 days late
2020
26 days late
2019
1 day 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 after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0544823165
Amendment of the articles
General meeting of 12-03-2025 · Gazette deed
Registered office moved within Neupré
New registered office: Route du Condroz 140/RDC, 4121 Neupré · Previous registered office: Allée Marie Louise 8, 4121 Neupré · Permanent representative: L. SALVADOR · Board meeting of 14-11-2024 · Gazette deed
Change of role: ELESA, from manager to director
Permanent representative: SALVADOR Lucien · General meeting of 28-06-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| WINALPHA Neupré | €486,045 | €17,539 | 43.3% | - |
| PORMAN Sprimont | €480,734 | €15,709 | 14.5% | - |
| Limpa Menen | €447,056 | €21,028 | 68.6% | - |
| Immo L & S Verviers | €400,557 | €22,247 | 3.9% | - |
| ReivaX Immo Ferrières | €418,847 | €21,011 | 22.1% | - |
| JAFRIMO Blegny | €636,401 | €23,217 | 75.9% | - |
| INVESTHUY Chaudfontaine | €669,635 | €23,321 | 22.0% | - |
These companies have the same main activity as WINALPHA: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €401,000 and €670,000, founded between 2011 and 2015.
Official details
Source: KBO- Status
- Active since 28-01-2014Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 1 other
- Establishment unit
- 2.307.853.8904121 Neupré, since 01-02-2014
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Insights on WINALPHA
WINALPHA files the abbreviated format. That format states no turnover. The gross margin fell from €139,352 in 2015 to €17,539 in 2025.
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 WINALPHA
- What is the company number of WINALPHA?
- The company number of WINALPHA is 0544.823.165. The VAT number is the same number with BE in front: BE 0544.823.165.
- Where is WINALPHA based?
- The registered office is at Route du Condroz 140, 4121 Neupré.Company details
- What does WINALPHA do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of WINALPHA?
- WINALPHA is a private limited company (BV).
- When was WINALPHA founded?
- WINALPHA was founded on 28-01-2014.
- Is WINALPHA still active?
- Yes, WINALPHA is an active enterprise in the KBO register.
- What is the turnover of WINALPHA?
- The turnover in financial year 2025 is ≈ €47,000. This figure is estimated from the gross margin of €17,539 and 34 comparable companies (NACE 68201). It probably lies between €31,000 and €75,000. It is a rough estimate.Financials
- Is WINALPHA profitable?
- In financial year 2025, WINALPHA made a loss of €66,094.
- Where can I find the annual accounts of WINALPHA?
- WINALPHA filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
Next steps
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