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WindCo 2

Active
Public limited companyfounded 20223 yrs activeKoning Albert II-laan 7, 1210 Sint-Joost-ten-Node, BelgiumKBO/BCE: BE 0794.547.883
Summary

WindCo 2 has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35,529 and a net result of -€8,850. Equity is shrinking by ~20.4% per year across the filed fiscal years. Its solvency ranks better than 88% of 270 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth32=
Track record94
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 4.84 against 5.92 in 2024; short-term debt: 20.4% and cash: 95.1% of total assets), and 20.4% of the assets are financed with debt.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
79.6%
Return on assets
-19.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
232425
2023 to 2025 · latest year -€8,850
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 01-06-2026, 60 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
60 d early
2024
71 d early
2023
44 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 58 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 1 June (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

WindCo 2 was incorporated on 8 December 2022 as a Public limited company.1 Total assets fell from EUR 60,701 in 2023 to EUR 44,640 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2023 and 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€8,850▲ 4.2%
2024 · -€9,242
Working capital
€34,975▼ 19.7%
2024 · €43,547
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line202320242025
Operating result-€7,749--€8,597▼ 10.9%-€8,330▲ 3.1%
Net result-€7,879below the sector's middle half--€9,242within the sector's middle half▼ 17.3%-€8,850within the sector's middle half▲ 4.2%
Equity€53,621below the sector's middle half-€44,379below the sector's middle half▼ 17.2%€35,529below the sector's middle half▼ 19.9%
Total assets€60,701below the sector's middle half-€53,226below the sector's middle half▼ 12.3%€44,640below the sector's middle half▼ 16.1%
Debt€7,080-€8,847▲ 25.0%€9,111▲ 3.0%
Working capital€52,512within the sector's middle half-€43,547within the sector's middle half▼ 17.1%€34,975within the sector's middle half▼ 19.7%
Solvency88.3%above the sector's middle half-83.4%above the sector's middle half▼ 5.0pp79.6%above the sector's middle half▼ 3.8pp
Current ratio8.42above the sector's middle half-5.92above the sector's middle half▼ 2.494.84above the sector's middle half▼ 1.08
Return on assets (ROA)-13.0%below the sector's middle half--17.4%below the sector's middle half▼ 4.4pp-19.8%below the sector's middle half▼ 2.5pp
above within below the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€10,000-€7,500-€5,000-€2,500€0Operating result 2023: -€7,749-€7,749Net result 2023: -€7,879-€7,879Operating result 2024: -€8,597-€8,597Net result 2024: -€9,242-€9,242Operating result 2025: -€8,330-€8,330Net result 2025: -€8,850-€8,850202320242025-€10,000-€7,500-€5,000-€2,500€0Operating result 2023: -€7,749-€7,750Net result 2023: -€7,879-€7,880Operating result 2024: -€8,597-€8,600Net result 2024: -€9,242-€9,240Operating result 2025: -€8,330-€8,330Net result 2025: -€8,850-€8,850202320242025
The operating result stays negative: a loss of €8,330 in 2025 against €8,597 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €44,640
Equity €35,529 ▼ 19.9%
Debt €9,111 ▲ 3.0%
Debt's share of the balance-sheet total rises from 16.6% to 20.4%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€8,052▲
2024 · -€8,320
Cash flow
-€8,573▲
2024 · -€8,965
Debt to equity
0.26▲
2024 · 0.20
ROE
-24.9%▼
2024 · -20.8%
Interest coverage
-15.48▼
2024 · -12.90
Debt ≤ 1 year
€9,111▲
2024 · €8,847
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 3,225 companies that looked in July 2024 the way this one looks now, 3.3% went bankrupt within 24 months and 88% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
3.3% went bankrupt
8.7% stopped otherwise
88% still going

A further 0.3% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 3,225 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 28 lines
Balance sheet Code20242025
Assets
Total assets20/58€53,226€44,640▼
Formation expenses20€832€554▼
Current assets29/58€52,395€44,086▼
Amounts receivable within one year40/41€1,545€1,617▲
Other amounts receivable41€1,545€1,617▲
Cash at bank and in hand54/58€50,850€42,469▼
Equity and liabilities
Total equity and liabilities10/49€53,226€44,640▼
Equity10/15€44,379€35,529▼
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€17,121-€25,971▼
Amounts payable17/49€8,847€9,111▲
Amounts payable within one year42/48€8,847€9,111▲
Trade debts44€8,847€9,111▲
Suppliers440/4€8,847€9,111▲
Income statement Code20242025
Goods, raw materials, services and sundry goods60/61€7,932€7,653▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€277€277=
Other operating charges640/8€387€400▲
Gross operating margin9900-€7,932-€7,653▲
Operating profit (loss)9901-€8,597-€8,330▲
Financial charges65/66B€645€520▼
Recurring financial charges65€645€520▼
Profit (loss) for the period before taxes9903-€9,242-€8,850▲
Profit (loss) for the period9904-€9,242-€8,850▲
Profit (loss) for the period to be appropriated9905-€9,242-€8,850▲
Appropriation of the result
Profit (loss) to be appropriated9906-€17,121-€25,971▼
Profit (loss) brought forward from the previous period14P-€7,879-€17,121▼
Line202320242025Change
Goods, raw materials, services and sundry goods60/61-€7,932€7,653▼ 3.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€277€277€277=
Other operating charges640/8€392€387€400▲ 3.2%
Gross operating margin9900-€7,080-€7,932-€7,653▲ 3.5%
Operating profit (loss)9901-€7,749-€8,597-€8,330▲ 3.1%
Financial charges65/66B€130€645€520▼ 19.4%
Recurring financial charges65€130€645€520▼ 19.4%
Profit (loss) for the period before taxes9903-€7,879-€9,242-€8,850▲ 4.2%
Profit (loss) for the period9904-€7,879-€9,242-€8,850▲ 4.2%
Profit (loss) for the period to be appropriated9905-€7,879-€9,242-€8,850▲ 4.2%
Line202320242025Change
Assets
Total assets20/58€60,701€53,226€44,640▼ 16.1%
Formation expenses20€1,109€832€554▼ 33.3%
Current assets29/58€59,592€52,395€44,086▼ 15.9%
Amounts receivable within one year40/41€6€1,545€1,617▲ 4.7%
Other amounts receivable41€6€1,545€1,617▲ 4.7%
Cash at bank and in hand54/58€59,586€50,850€42,469▼ 16.5%
Equity and liabilities
Total equity and liabilities10/49€60,701€53,226€44,640▼ 16.1%
Equity10/15€53,621€44,379€35,529▼ 19.9%
Contributions10/11€61,500€61,500€61,500=
Capital10€61,500€61,500€61,500=
Issued capital100€61,500€61,500€61,500=
Profit (loss) carried forward14-€7,879-€17,121-€25,971▼ 51.7%
Amounts payable17/49€7,080€8,847€9,111▲ 3.0%
Amounts payable within one year42/48€7,080€8,847€9,111▲ 3.0%
Trade debts44€7,080€8,847€9,111▲ 3.0%
Suppliers440/4€7,080€8,847€9,111▲ 3.0%
Line202320242025Change
Profit (loss) for the period9904-€7,879-€9,242-€8,850▲ 4.2%
+ Depreciation and write-downs630€277€277€277=
Operating cash flow (approximation)-€7,602-€8,965-€8,573▲ 4.4%
Change in cash--€8,736-€8,381▲ 4.1%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
02-09
State Gazette act Appointment: SRL PwC Reviseurs d'Entreprises (statutory auditor)
Permanent representative: Mélanie Adorante3 facts ▸
  • General meeting, 18-05-2026
  • Auditor appointment, SRL PwC Reviseurs d'Entreprises (statutory auditor)
  • Permanent representative, Mélanie Adorante (permanent representative)
01-06
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
21-05
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial Weakest financial yearnet -€9,242
Net result drops to -€9,242, the lowest in the series; recovery starts the following year.
17-06
NBB filing Annual accounts filed
fiscal year 2023 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts

Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors

Statutory auditor 1

PwC Réviseurs d'Entreprises SRL
Statutory auditor · since 02-09-2026 · perm. rep.: Mélanie Adorante
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Joost-ten-Node · 1 establishment unit since 2022
seat establishment The establishment unit on the map
Ground area
2,230 m²
Building footprint
2,026 m²
Volume, LiDAR
54,470 m³
Parcel 21014A0004/00Y018, Brussels · tallest building 36.2 m, ±10 floors. Linked by address, not a title deed.
37 companies at this address See who is registered here
1 establishment unit
WindCo 2
Koning Albert II-laan 7, 1210 Sint-Joost-ten-NodeProduction of electricity from non-renewable sources
since 20222.385.849.117
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21014A0004/00Y018 Brussels 2,230 m² 1 · 2,026 m² 36.2 m · 10 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

1 person since 2026, 1 in office
Show
  • Statutory auditor
Mandates per person, with start and end dates
Name Functions and periods
PwC Réviseurs d'Entreprises SRL
  • Statutory auditor, from 02-09-2026 to date
See the board, name and seat on a given date →

Structure & network

Part of the group ELECTRICITE DE FRANCE 66 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. EDF BELGIUM 68.63%
  2. Luminus 100%
  3. WindCo 2

Highest known parent: EDF BELGIUM. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 16 companies in sector 35160 we hold annual accounts for 4. 3 are within a factor 10 of this equity. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded08-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
35160Electricity, gas, steam and air conditioning supply
35120Electricity, gas, steam and air conditioning supply
35150Electricity, gas, steam and air conditioning supply
E-invoicing
Reachable via Peppol
Peppol ID 0208:0794547883
Also 9925:BE0794547883

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.