Result
From profit to loss in 2025, after a profit of €12,439 in 2024.
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).
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).
In July 2024, 376 companies had the same profile as WINALPHA has now. Each dot is one company, two years later.
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.
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.
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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
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.
| 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.
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.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €47,000. Estimated: probably between €31,000 and €75,000.
Higher than 60% of 11,297 companies in 2025.
Higher than 95% of 10,849 companies in 2025.
Higher than 6% of 11,182 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
486,045 | 766,932 | 793,919 | 707,661 | 821,291 | 932,334 | 861,634 | 403,760 | 800,186 | 976,060 | |
21/28 |
64,843 | 62,897 | 84,680 | 106,488 | 128,559 | 119,188 | 250,059 | 38,331 | - | - | |
21 |
39,069 | 60,119 | 72,143 | 84,167 | 96,190 | 108,214 | - | - | - | - | |
22/27 |
24,774 | 1,778 | 11,537 | 21,095 | 32,143 | 10,974 | 20,855 | 38,331 | - | - | |
23 |
21,237 | - | - | 1,101 | 1,983 | - | - | - | - | - | |
24 |
3,537 | 1,778 | 11,537 | 19,994 | 30,160 | 10,974 | 20,855 | 38,331 | - | - | |
28 |
1,000 | 1,000 | 1,000 | 1,226 | 226 | - | 229,204 | - | - | - | |
29/58 |
421,202 | 704,035 | 709,239 | 601,173 | 692,732 | 813,146 | 611,575 | 365,429 | 800,186 | 976,060 | |
3 |
274,313 | 604,613 | 395,471 | 236,719 | 455,187 | 618,785 | 506,275 | 10,000 | 478,256 | 917,488 | |
30/36 |
274,313 | 604,613 | 395,471 | 236,719 | 455,187 | 618,785 | 506,275 | 10,000 | 478,256 | 917,488 | |
40/41 |
53,274 | 91,244 | 47,106 | 116,038 | 79,492 | 100,023 | 17,435 | 67,536 | 200,693 | 53,087 | |
40 |
543 | 58,485 | 40,646 | 94,238 | 65,652 | 99,530 | 17,435 | 35,837 | 176,482 | 51,567 | |
41 |
52,731 | 32,759 | 6,460 | 21,800 | 13,840 | 493 | - | 31,699 | 24,212 | 1,521 | |
54/58 |
89,354 | 7,324 | 264,461 | 244,050 | 155,495 | 88,581 | 81,040 | 287,893 | 120,226 | 4,362 | |
490/1 |
4,261 | 854 | 2,201 | 4,366 | 2,558 | 5,757 | 6,825 | - | 1,012 | 1,123 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
486,045 | 766,932 | 793,919 | 707,661 | 821,291 | 932,334 | 861,634 | 403,760 | 800,186 | 976,060 | |
10/15 |
210,463 | 276,557 | 264,118 | 204,664 | 261,024 | 259,354 | 217,721 | 209,364 | 237,602 | 150,439 | |
10/11 |
87,120 | 87,120 | 87,120 | 87,120 | 87,120 | 79,200 | 79,200 | 79,200 | 79,200 | 79,200 | |
100 |
- | - | - | - | - | 79,200 | 79,200 | 79,200 | 79,200 | 79,200 | |
13 |
- | - | - | - | - | 7,920 | 7,920 | 7,920 | 7,920 | 7,920 | |
130 |
- | - | - | - | - | 7,920 | 7,920 | 7,920 | 7,920 | 7,920 | |
14 |
123,343 | 189,437 | 176,998 | 117,544 | 173,904 | 172,234 | 130,601 | 122,244 | 150,482 | 63,319 | |
17/49 |
275,582 | 490,375 | 529,801 | 502,997 | 560,267 | 672,980 | 643,913 | 194,396 | 562,584 | 825,621 | |
17 |
239,000 | 239,000 | 345,906 | 349,906 | 349,906 | 349,906 | 319,906 | 65,000 | 174,281 | 712,243 | |
170/4 |
- | - | - | - | - | - | - | - | 109,281 | 647,243 | |
178/9 |
239,000 | 239,000 | 345,906 | 349,906 | 349,906 | 349,906 | 319,906 | 65,000 | 65,000 | 65,000 | |
42/48 |
5,272 | 234,489 | 176,113 | 133,870 | 196,297 | 296,495 | 318,152 | 123,174 | 379,998 | 108,607 | |
42 |
- | 8,456 | - | - | - | - | - | - | 164,719 | 35,962 | |
43 |
- | 186,050 | 112,500 | 112,500 | 112,500 | 182,250 | 181,000 | - | - | - | |
430/8 |
- | 186,050 | 112,500 | 112,500 | 112,500 | 182,250 | 181,000 | - | - | - | |
44 |
1,720 | 9,142 | 6,885 | 21,149 | 3,782 | 65,788 | 18,544 | 30,605 | 9,035 | 25,149 | |
440/4 |
1,720 | 9,142 | 6,885 | 21,149 | 3,782 | 65,788 | 18,544 | 30,605 | 9,035 | 25,149 | |
45 |
3,552 | 15,216 | 46,561 | 221 | 78,986 | 35,389 | 23,240 | 18,394 | 156,154 | 42,452 | |
450/3 |
3,552 | 15,216 | 46,561 | 221 | 78,986 | 35,389 | 23,240 | 18,394 | 156,154 | 42,452 | |
47/48 |
- | 15,625 | 10,167 | - | 1,029 | 13,068 | 95,368 | 74,175 | 50,091 | 5,045 | |
492/3 |
31,310 | 16,886 | 7,782 | 19,221 | 14,064 | 26,579 | 5,855 | 6,222 | 8,305 | 4,771 | |
| Income statement | |||||||||||
76A |
- | 4,130 | 10,479 | - | - | - | - | 8,398 | - | - | |
9900 |
17,539 | 73,300 | 113,710 | 58,359 | 114,885 | 157,044 | 40,821 | 82,954 | 164,126 | 139,352 | |
630 |
27,477 | 21,783 | 22,698 | 23,071 | 19,652 | 35,023 | 17,476 | 30,583 | - | - | |
631/4 |
3,004 | - | - | - | - | - | - | - | - | - | |
640/8 |
4,257 | 2,460 | 3,084 | 4,876 | 5,426 | 23,998 | 1,887 | 2,594 | 348 | 1,190 | |
66A |
- | - | - | 66,482 | 61,732 | 1,188 | - | - | - | - | |
9901 |
-17,199 | 49,057 | 87,928 | -36,070 | 28,075 | 96,835 | 21,458 | 49,777 | 163,779 | 138,162 | |
75/76B |
541 | 17 | 577 | 3 | 56 | 155 | 96 | 234 | 389 | 1,028 | |
75 |
541 | 17 | 577 | 3 | 56 | 155 | 96 | 234 | 389 | 1,028 | |
65/66B |
49,001 | 24,920 | 19,452 | 20,072 | 25,831 | 25,190 | 7,431 | 16,099 | 33,755 | 30,317 | |
65 |
49,001 | 24,920 | 19,452 | 20,072 | 25,831 | 25,190 | 7,431 | 16,099 | 33,755 | 30,317 | |
9903 |
-65,659 | 24,154 | 69,053 | -56,139 | 2,300 | 71,800 | 14,123 | 33,912 | 130,412 | 108,873 | |
67/77 |
435 | 11,715 | 9,599 | 221 | 630 | 30,167 | 5,766 | 18,428 | 43,249 | 37,635 | |
9904 |
-66,094 | 12,439 | 59,454 | -56,360 | 1,670 | 41,633 | 8,357 | 15,484 | 87,163 | 71,239 | |
9905 |
-66,094 | 12,439 | 59,454 | -56,360 | 1,670 | 41,633 | 8,357 | 15,484 | 87,163 | 71,239 | |
| Appropriation of the result | |||||||||||
9906 |
123,343 | 189,437 | 176,998 | 117,544 | 173,904 | 172,234 | 130,601 | 122,244 | 150,482 | 71,239 | |
14P |
189,437 | 176,998 | 117,544 | 173,904 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 7,920 | |
6920 |
- | - | - | - | - | - | - | - | - | 7,920 | |
| Document | |||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 25-08-2026.
2025 annual accounts filed 25 days after the deadline. Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00430186.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-08-2026 | 2026-00430186 | |
| 31-03-2024 | full format | 08-01-2025 | 2025-00001300 | |
| 31-03-2023 | full format | 31-10-2023 | 2023-00508848 | |
| 31-03-2022 | full format | 30-11-2022 | 2022-20529735 | |
| 31-03-2021 | full format | 25-11-2021 | 2021-78800304 | |
| 31-03-2020 | full format | 26-11-2020 | 2020-72700209 | |
| 31-03-2019 | full format | 30-10-2019 | 2019-72500351 | |
| 31-03-2018 | full format | 07-12-2018 | 2018-74000070 | |
| 30-06-2016 | full format | 28-02-2017 | 2017-05500584 | |
| 30-06-2015 | full format | 28-01-2016 | 2016-03700223 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,278 | 70,840 | 110,626 | -12,999 | 47,727 | 131,858 | 38,934 | 80,360 | - | - | ||
| -38,617 | 34,222 | 82,152 | -33,289 | 21,322 | 76,656 | 25,833 | 46,067 | - | - | ||
| 29,423 | 0 | 1,116 | 1,000 | 34,445 | 143,806 | 229,204 | 68,914 | - | - | ||
| 82,030 | -257,137 | 20,411 | 88,555 | 66,914 | 7,541 | -206,853 | - | 115,863 | - | ||
| 415,930 | 469,546 | 533,126 | 467,303 | 496,435 | 516,651 | 293,423 | 242,255 | 420,188 | 867,453 | ||
| 43.3% | 36.1% | 33.3% | 28.9% | 31.8% | 27.8% | 25.3% | 51.9% | 29.7% | 15.4% | ||
| 79.89 | 3.00 | 4.03 | 4.49 | 3.53 | 2.74 | 1.92 | 2.97 | 2.11 | 8.99 | ||
| 27.86 | 0.42 | 1.78 | 2.72 | 1.21 | 0.66 | 0.33 | 2.89 | 0.85 | 0.54 | ||
| 1.31 | 1.77 | 2.01 | 2.46 | 2.15 | 2.59 | 2.96 | 0.93 | 2.37 | 5.49 | ||
| -31.4% | 4.5% | 22.5% | -27.5% | 0.6% | 16.1% | 3.8% | 7.4% | 36.7% | 47.4% | ||
| -13.6% | 1.6% | 7.5% | -8.0% | 0.2% | 4.5% | 1.0% | 3.8% | 10.9% | 7.3% | ||
| 0.21 | 2.84 | 5.69 | -0.65 | - | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €29,423 | - | €1,116 | - |
| Financial fixed assets | - | - | - | €1,000 |
| €27,477 | €21,783 | €22,698 | €23,071 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €17,199, after a profit of €49,057 in 2024. It is the lowest result since 2022.
Debt's share of the balance-sheet total falls from 63.9% to 56.7%. Equity and debt are lower.
Source: list of holdings in its own 31-03-2019 accounts. Every holding stands with its own latest accounts.
The connected companies are in the list below.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Route du Condroz 140 registered office 4121 Neupré | ||
| Allée Marie-Louise 8 4121 Neupré | 01-02-2014 | 2.307.853.890 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 61044B0136/00N015 | 2,029 m² | 1 · 157 m² | 7.7 m · 2 |
| 61044B0120/00_000 | 1,498 m² | 1 · 142 m² | 8.6 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0544.823.165
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