Winbalu

Active

Public limited companyfounded 1986active for 40 yearsSteenovenstraat 2, 8850 Ardooie, BelgiumKBO/BCE: BE 0428.475.526

Summary

Winbalu has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €70,307. Equity is shrinking by about 6.4% per year across the filed financial years. Its solvency ranks better than 67% of 826 sector peers (NACE 25, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Risk analysisFollow Report Compare

WinbaluActiveChecked score 83/100

Risk analysis Report Compare

Activity

Forging of metal

NACE 25401Manufacture of fabricated metal products, except machinery and equipment NACE 25120

1 site

Size

€2.7mtotal assets 2025

Staff: 21 FTE
Equity: €1.6m
Profit: €70,307

Financial health

83 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.4%

Structure

Parent: WINSOL INTERNATIONAL · 100%

SUFINAChair · permanent representative Jochen MOORTGAT
WINSOL INTERNATIONALManaging director · permanent representative Xavier COSTENOBLE

Auditor: BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES2025 accounts 30 days early4 of 23 deeds summarised

Why 83raises riskLiquidity: current ratio 2.40, cash €898, halvedSector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)lowers riskFounded in 1986Equity €1.6m (59.5% of total assets)Show the evidence

Checked score

Score 2025

83 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 42% of its sector peers (NACE 25, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Average

Solvency 84+8

equity 59.5% of total assets

Liquidity 32-26

short-term debt 39.6% · cash 0.0%

Profitability 41-16

return on assets 2.6%

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (749 companies, NACE 25, small)

Last 24 months 11-2024: 0.3% 12-2024: 0.3%● unchanged vs 11-2024 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.3%● unchanged vs 03-2025 05-2025: 0.3%● unchanged vs 04-2025 06-2025: 0.3%● unchanged vs 05-2025 07-2025: 0.4%▲ +0.1 percentage points vs 06-2025highest value 08-2025: 0.1%▼ -0.3 percentage points vs 07-2025lowest value 09-2025: 0.1%● unchanged vs 08-2025lowest value 10-2025: 0.1%● unchanged vs 09-2025lowest value 11-2025: 0.1%● unchanged vs 10-2025lowest value 12-2025: 0.1%● unchanged vs 11-2025lowest value 01-2026: 0.1%● unchanged vs 12-2025lowest value 02-2026: 0.1%● unchanged vs 01-2026lowest value 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.4%▲ +0.3 percentage points vs 07-2026 09-2026: 0.4%● unchanged vs 08-2026 10-2026: 0.4%● unchanged vs 09-2026

Credit of up to €130,000 on 30-day terms is acceptable

Liquidity ample (current ratio 2.4, compared with 1.96 in 2024, above the usual 1.5; short-term debt: 39.6% and cash: 0% of total assets), and 40.5% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 25, small): better than 72% on solvency, 25% on liquidity, 19% on profitability and 50% on growth.

The bankruptcy probability was computed on 25-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

Founded in 1986

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Liquidity: current ratio 2.40, cash €898, halved

NBB · annual accounts

Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)

KBO

Equity €1.6m (59.5% of total assets)

NBB · annual accounts

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year €1.6m

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

30 days early

2024

28 days early

2023

22 days early

2022

26 days early

2021

25 days early

2020

18 days early

2019

74 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 11 days before the deadline; the sector median (NACE 25) for financial year 2024 is 8 days before the deadline, and 35% of those companies filed late.

Searched, nothing found (2)

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 5 July (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

26-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

01-07-2026 Annual accounts filedfinancial year 2025 · full…
24-07-2025 Reappointment: BDO Bedrijfsrevisoren BV (statutory auditor)Permanent representatives: Kevin Defauw and…
03-07-2025 Annual accounts filedfinancial year 2024 · abbreviated…

Key points

Controlled by WINSOL INTERNATIONALultimately: MILAUHRET 100% View
Positive: Filed on time since financial year 2020accounts within the deadline every year 6 years View
Active since 1986founded 03-02-1986 40 years View

By topic

Financials

Financial year: 2025
Total assets: €2.7m
Profit: €70,307
Solvency: 59.5%

Turnover▼ 3.8%

Net result

20182020

Go to Financials

Board & ownership

Board: 2 members
Parent: WINSOL INTERNATIONAL · 100%
Auditor: BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES

SUFINAChair
WINSOL INTERNATIONALManaging director

Go to Board & ownership

Network & group

Group: MILAUHRET
Connected companies: 6
Mergers and asset contributions: 1

Go to Network & group

Timeline

Events: 48
Since: 1987
Next accounts: by 31-07-2027

30-12-2024Resignation: SOCADAN (director)
15-07-2024Capital & shares · Miscellaneous
09-07-2024Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Forging of metalNACE 25401
Founded: 03-02-1986
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 21

Who signs: Two directors jointly
Annual meeting: Fourth Friday of June at 14:00

Go to Articles of association

Key facts about Winbalu

What is the company number of Winbalu?: 0428.475.526. In Belgium the VAT number is the company number with BE in front: BE 0428.475.526.
Where is Winbalu based?: The registered office is at Steenovenstraat 2, 8850 Ardooie.Company details
What does Winbalu do?: According to the KBO register, the main activity is forging of metal (NACE 25401).
What is the legal form of Winbalu?: Public limited company (NV).
When was Winbalu founded?: On 03-02-1986.
Is Winbalu still active?: Yes, Winbalu is an active enterprise in the KBO register.
How many employees does Winbalu have?: On average 21 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of Winbalu?: €5.3m in financial year 2020, according to the filed annual accounts.
Is Winbalu profitable?: In financial year 2025, Winbalu made a profit of €70,307.
Where can I find the annual accounts of Winbalu?: Winbalu filed 40 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of Winbalu due?: By 31-07-2027, for financial year 2026.Timeline