WINPROF
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 39 days after the deadline Filed on 8 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00507345.
Annual accounts 2025 filed on 08-09-2026 at the NBB all 22 filings
Turnover
≈ €7.1m
Estimated: probably between €5.4m and €9.4m
EBIT margin
Not included in this filing
Net result
€226,211▼ 59.4%
2024 · €556,707
Working capital
€3.6m▲ 5.2%
2024 · €3.4m
In the rankings
#5 company by equity in Genk, Construction sector#8 employer in Genk, Construction sector#8 company by total assets in Genk, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€294,640
▼ 59.2%
2025
20182025
Net result
€226,211
▼ 59.4%
2025
highest quarter of the sector
20182025
Equity
€4.0m
▲ 6.0%
2025
highest quarter of the sector
20182025
Total assets
€6.0m
▲ 1.2%
2025
highest quarter of the sector
20182025
Debt
€2.0m
▼ 7.2%
2025
20182025
Working capital
€3.6m
▲ 5.2%
2025
highest quarter of the sector
20182025
Solvency
66.8%
▲ 3.0pp
2025
highest quarter of the sector
20182025
Current ratio
3.02
▲ 0.19
2025
highest quarter of the sector
20182025
Return on assets (ROA)
3.8%
▼ 5.7pp
2025
middle half of the sector
20182025
Staff (FTE)
23.6
▼ 4.1%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.9m-€0.6m▼ 32.3%€0.5m▼ 21.0%€0.7m▲ 43.8%€0.5m▼ 20.8%€0.6m▲ 7.2%€0.7m▲ 26.7%€0.3m▼ 59.2%
Net result€0.5m-€0.4m▼ 21.0%€0.4mabove the sector's middle half▼ 7.2%€0.5mabove the sector's middle half▲ 52.2%€0.4mabove the sector's middle half▼ 27.9%€0.4mabove the sector's middle half▲ 9.0%€0.6mabove the sector's middle half▲ 30.7%€0.2mabove the sector's middle half▼ 59.4%
Equity€1.6m-€1.9m▲ 19.9%€2.2mabove the sector's middle half▲ 19.1%€2.6mabove the sector's middle half▲ 18.6%€3.0mabove the sector's middle half▲ 14.8%€3.2mabove the sector's middle half▲ 5.8%€3.8mabove the sector's middle half▲ 17.4%€4.0mabove the sector's middle half▲ 6.0%
Total assets€5.2m-€5.4m▲ 4.3%€5.4mabove the sector's middle half▼ 1.1%€6.3mabove the sector's middle half▲ 17.6%€6.2mabove the sector's middle half▼ 1.8%€6.4mabove the sector's middle half▲ 2.9%€5.9mabove the sector's middle half▼ 7.4%€6.0mabove the sector's middle half▲ 1.2%
Debt€3.6m-€3.5m▼ 2.4%€3.1m▼ 11.8%€3.7m▲ 16.9%€3.2m▼ 13.8%€3.2m=€2.1m▼ 32.5%€2.0m▼ 7.2%
Working capital€1.5m-€1.5m▼ 4.8%€1.8mabove the sector's middle half▲ 21.9%€1.8mabove the sector's middle half▼ 1.6%€2.2mabove the sector's middle half▲ 25.4%€2.5mabove the sector's middle half▲ 13.7%€3.4mabove the sector's middle half▲ 36.3%€3.6mabove the sector's middle half▲ 5.2%
Solvency30.0%-34.5%▲ 4.5pp41.5%within the sector's middle half▲ 7.1pp41.9%within the sector's middle half▲ 0.4pp48.9%within the sector's middle half▲ 7.1pp50.3%within the sector's middle half▲ 1.4pp63.8%within the sector's middle half▲ 13.5pp66.8%above the sector's middle half▲ 3.0pp
Current ratio1.49-1.42▼ 0.061.68within the sector's middle half▲ 0.261.56within the sector's middle half▼ 0.121.80within the sector's middle half▲ 0.241.89within the sector's middle half▲ 0.092.83within the sector's middle half▲ 0.943.02above the sector's middle half▲ 0.19
Return on assets (ROA)9.4%-7.1%▼ 2.3pp6.7%within the sector's middle half▼ 0.4pp8.6%within the sector's middle half▲ 2.0pp6.3%within the sector's middle half▼ 2.3pp6.7%within the sector's middle half▲ 0.4pp9.5%within the sector's middle half▲ 2.8pp3.8%within the sector's middle half▼ 5.7pp
Staff (FTE)27.1-31.5▲ 16.2%31.9above the sector's middle half▲ 1.3%27.8above the sector's middle half▼ 12.9%24above the sector's middle half▼ 13.7%24.6above the sector's middle half▲ 2.5%24.6above the sector's middle half=23.6within the sector's middle half▼ 4.1%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 59% lower than in 2024 and the lowest since 2021.
Large changes and their cause
- 2025 Net result -59% on 2024. The accounts now follow the full format, last year the abbreviated format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.0m
Fixed assets
€579,255 ▼ 2.6%
Current assets
€5.4m ▲ 1.7%
Equity and liabilities €6.0m
Equity
€4.0m ▲ 6.0%
Debt
€2.0m ▼ 7.2%
Debt's share of the balance-sheet total falls from 36.2% to 33.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€534,364▼
2024 · €991,971
Cash flow
€465,935▼
2024 · €826,395
Quick ratio
2.76▼
2024 · 2.78
Debt to equity
0.50▼
2024 · 0.57
ROE
5.7%▼
2024 · 14.8%
Interest coverage
17.28▼
2024 · 19.98
Debt ≤ 1 year
€1.8m▼
2024 · €1.9m
Debt > 1 year
€186,056▼
2024 · €249,942
Income taxes
€103,534▼
2024 · €206,443
Staff costs
€2.0m▼
2024 · €2.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 24 | 23 | 25 | 25 | 22 |
| full-time | 21 | 23 | 23 | 23 | 20 |
| part-time | 3 | - | 2 | 2 | 2 |
| in full-time equivalents | 23.4 | 23 | 24.6 | 24.6 | 21.6 |
| Average over the year, in full-time equivalents | 27.8 | 24 | 23.9 | 23.9 | 23.6 |
| On a permanent contract | 24 | 23 | 25 | 25 | 22 |
| Joined | 2 | 2 | 4 | 4 | 3 |
| Left | 8 | 3 | 2 | 2 | 6 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €560,023 | €100,025 | €232,066 | €4,802 | €124,461 |
| Financial fixed assets | €170,000 | - | - | - | €100,000 |
| Depreciation and write-downs of the year | €270,267 | €270,931 | €300,592 | €269,688 | €239,724 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €15,051 awarded · €15,051 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €3,291 | €3,291 |
| 2024 | 1 | €4,060 | €4,060 |
| 2023 | 1 | €4,060 | €7,700 |
| 2022 | 1 | €3,640 | €0 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0.01m | €0.002m | €0.001m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2.2m | €2.0m | €2.2m | €2.3m | €2.0m | ▼ 13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 11.1% |
| Other operating charges640/8 | - | - | - | €0.03m | €0.01m | €0.02m | €0.03m | €0.02m | ▼ 18.4% |
| Gross operating margin9900 | €2.8m | €2.9m | €3.1m | €3.2m | €2.8m | €3.1m | €3.3m | €2.5m | ▼ 23.1% |
| Operating profit (loss)9901 | €0.9m | €0.6m | €0.5m | €0.7m | €0.5m | €0.6m | €0.7m | €0.3m | ▼ 59.2% |
| Financial income75/76B | - | - | - | €0.1m | €0.08m | €0.07m | €0.09m | €0.07m | ▼ 27.0% |
| Recurring financial income75 | €0.08m | €0.08m | €0.1m | €0.1m | €0.08m | €0.07m | €0.09m | €0.07m | ▼ 27.8% |
| Non-recurring financial income76B | - | - | - | €0.002m | - | - | - | €0.001m | - |
| Financial charges65/66B | - | - | - | €0.07m | €0.06m | €0.06m | €0.05m | €0.03m | ▼ 37.7% |
| Recurring financial charges65 | €0.07m | €0.07m | €0.07m | €0.07m | €0.05m | €0.06m | €0.05m | €0.03m | ▼ 37.7% |
| Non-recurring financial charges66B | - | - | - | - | €0.006m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.9m | €0.6m | €0.5m | €0.7m | €0.6m | €0.6m | €0.8m | €0.3m | ▼ 56.8% |
| Income taxes67/77 | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 49.8% |
| Profit (loss) for the period9904 | €0.5m | €0.4m | €0.4m | €0.5m | €0.4m | €0.4m | €0.6m | €0.2m | ▼ 59.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.3m | - | €0.3m | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €0.3m | - | - | €0.2m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.1m | €0.4m | €0.5m | €0.4m | €0.7m | €0.3m | €0.2m | ▼ 34.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.2m | €5.4m | €5.4m | €6.3m | €6.2m | €6.4m | €5.9m | €6.0m | ▲ 1.2% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.9m | €1.4m | €1.2m | €1.0m | €0.6m | €0.6m | ▼ 2.6% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.6m | €0.9m | €0.7m | €0.7m | €0.4m | €0.3m | ▼ 29.2% |
| Land and buildings22 | - | - | - | €0.6m | €0.5m | €0.4m | €0.2m | €0.1m | ▼ 43.9% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.02m | €0.01m | €0.003m | ▼ 78.2% |
| Furniture and vehicles24 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 11.8% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.002m | €0.008m | ▲ 228% |
| Financial fixed assets28 | €0.1m | €0.06m | €0.3m | €0.5m | €0.5m | €0.4m | €0.2m | €0.3m | ▲ 50.0% |
| Current assets29/58 | €4.7m | €4.9m | €4.4m | €4.9m | €5.0m | €5.3m | €5.3m | €5.4m | ▲ 1.7% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | - | €0.2m | - |
| Trade receivables290 | - | - | - | - | - | - | - | €0.2m | - |
| Stocks and contracts in progress3 | €0.03m | €0.06m | €0.1m | €1.0m | €0.6m | €0.7m | €0.1m | €0.5m | ▲ 349% |
| Stocks30/36 | - | - | - | €0.07m | €0.07m | €0.07m | €0.03m | €0.03m | = |
| Contracts in progress37 | - | - | - | €0.9m | €0.5m | €0.7m | €0.07m | €0.4m | ▲ 497% |
| Amounts receivable within one year40/41 | €3.2m | €3.1m | €3.3m | €3.4m | €3.1m | €3.1m | €2.7m | €3.0m | ▲ 12.0% |
| Trade receivables40 | - | - | - | €3.3m | €2.9m | €2.9m | €2.6m | €2.8m | ▲ 8.9% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | €0.1m | €0.07m | €0.2m | ▲ 134% |
| Cash at bank and in hand54/58 | €0.7m | €0.9m | €0.7m | €0.5m | €1.3m | €1.5m | €2.4m | €1.7m | ▼ 29.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.03m | €0.02m | €0.08m | €0.05m | ▼ 30.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.2m | €5.4m | €5.4m | €6.3m | €6.2m | €6.4m | €5.9m | €6.0m | ▲ 1.2% |
| Equity10/15 | €1.6m | €1.9m | €2.2m | €2.6m | €3.0m | €3.2m | €3.8m | €4.0m | ▲ 6.0% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.4m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.8m | €0.8m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | - | - | €0.3m | €0.3m | €471 | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €0.6m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | €0.9m | €1.0m | €1.4m | €1.8m | €2.2m | €2.3m | €2.7m | €2.9m | ▲ 8.4% |
| Amounts payable17/49 | €3.6m | €3.5m | €3.1m | €3.7m | €3.2m | €3.2m | €2.1m | €2.0m | ▼ 7.2% |
| Amounts payable after more than one year17 | €0.4m | €0.07m | €0.5m | €0.5m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 25.6% |
| Financial debts170/4 | - | - | - | €0.5m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 25.6% |
| Amounts payable within one year42/48 | €3.2m | €3.5m | €2.6m | €3.2m | €2.8m | €2.8m | €1.9m | €1.8m | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 18.0% |
| Financial debts43 | - | - | - | €0.8m | €0.8m | - | - | - | - |
| Other loans439 | - | - | - | €0.8m | €0.8m | - | - | - | - |
| Trade debts44 | €1.6m | €2.0m | €1.5m | €1.9m | €1.4m | €1.8m | €1.1m | €1.2m | ▲ 11.7% |
| Suppliers440/4 | - | - | - | €1.9m | €1.4m | €1.8m | €1.1m | €1.2m | ▲ 11.7% |
| Advances received on contracts in progress46 | - | - | - | €0.2m | €0.2m | €0.3m | €0.5m | €0.3m | ▼ 39.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.2% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.005m | €0.005m | €0.005m | = |
| Remuneration and social security454/9 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.3% |
| Other amounts payable47/48 | - | - | - | €0.2m | - | €0.3m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €486,153 | €383,907 | €356,099 | €541,905 | €390,575 | €425,792 | €556,707 | €226,211 | ▼ 59.4% |
| + Depreciation and write-downs630 | €150,007 | €205,003 | €208,748 | €270,267 | €270,931 | €300,592 | €269,688 | €239,724 | ▼ 11.1% |
| Operating cash flow (approximation) | €636,160 | €588,910 | €564,847 | €812,172 | €661,506 | €726,384 | €826,395 | €465,935 | ▼ 43.6% |
| Investment in fixed assets (approximation) | - | -€205,935 | -€658,678 | -€730,023 | -€100,025 | -€132,066 | €175,198 | -€224,461 | - |
| Change in cash | - | €139,559 | -€171,174 | -€196,211 | €758,821 | €223,152 | €972,714 | -€716,928 | - |
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, 14,766 companies had the same profile as WINPROF has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WINPROF 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 14,766 companies, not a prediction for WINPROF. 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.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 08-09-2026 | 2026-00507345 | |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00341618 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00326367 | |
| 31-12-2022 | abbreviated format | 18-10-2023 | 2023-00488988 | |
| 31-12-2021 | abbreviated format | 30-07-2022 | 2022-20270980 | |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-70100562 | |
| 31-12-2019 | abbreviated format | 30-11-2020 | 2020-72800449 | |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-41400455 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41900141 | |
| 31-12-2016 | abbreviated format | 29-06-2017 | 2017-24300109 |