WIVA sloop
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 90 days after the deadline Filed on 29 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00596851.
Annual accounts 2025 filed on 29-10-2026 at the NBB all 13 filings
Equity
€208,751▼ 4.6%
2024 · €218,783
Total assets
€283,573▲ 7.6%
2024 · €263,518
Net result
-€10,032
2024 · €11,858
Working capital
€181,749▼ 11.0%
2024 · €204,123
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€6,512
2025
20182025
Net result
-€10,032
2025
lowest quarter of the sector
20182025
Equity
€208,751
▼ 4.6%
2025
middle half of the sector
20182025
Total assets
€283,573
▲ 7.6%
2025
middle half of the sector
20182025
Debt
€74,822
▲ 67.3%
2025
20182025
Working capital
€181,749
▼ 11.0%
2025
middle half of the sector
20182025
Solvency
73.6%
▼ 9.4pp
2025
highest quarter of the sector
20182025
Current ratio
3.44
▼ 2.16
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-3.5%
▼ 8.0pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€8,144--€69-€13,045▼ 18,751%€12,409€7,193▼ 42.0%€35,717▲ 397%€21,381▼ 40.1%-€6,512
Net result€1,827--€2,157-€17,678below the sector's middle half▼ 720%€11,132within the sector's middle half€4,038below the sector's middle half▼ 63.7%€23,130within the sector's middle half▲ 473%€11,858within the sector's middle half▼ 48.7%-€10,032below the sector's middle half
Equity€188,461-€186,304▼ 1.1%€168,626within the sector's middle half▼ 9.5%€179,758within the sector's middle half▲ 6.6%€183,796within the sector's middle half▲ 2.2%€206,925within the sector's middle half▲ 12.6%€218,783within the sector's middle half▲ 5.7%€208,751within the sector's middle half▼ 4.6%
Total assets€321,223-€255,115▼ 20.6%€232,315below the sector's middle half▼ 8.9%€237,650below the sector's middle half▲ 2.3%€238,916below the sector's middle half▲ 0.5%€329,643below the sector's middle half▲ 38.0%€263,518below the sector's middle half▼ 20.1%€283,573within the sector's middle half▲ 7.6%
Debt€132,761-€68,811▼ 48.2%€63,688▼ 7.4%€57,892▼ 9.1%€55,120▼ 4.8%€122,718▲ 123%€44,735▼ 63.5%€74,822▲ 67.3%
Working capital€163,011-€157,083▼ 3.6%€143,436within the sector's middle half▼ 8.7%€159,434within the sector's middle half▲ 11.2%€168,747within the sector's middle half▲ 5.8%€192,255within the sector's middle half▲ 13.9%€204,123within the sector's middle half▲ 6.2%€181,749within the sector's middle half▼ 11.0%
Solvency58.7%-73.0%▲ 14.4pp72.6%above the sector's middle half▼ 0.4pp75.6%above the sector's middle half▲ 3.1pp76.9%above the sector's middle half▲ 1.3pp62.8%above the sector's middle half▼ 14.2pp83.0%above the sector's middle half▲ 20.3pp73.6%above the sector's middle half▼ 9.4pp
Current ratio2.35-3.38▲ 1.023.29above the sector's middle half▼ 0.083.77above the sector's middle half▲ 0.484.08above the sector's middle half▲ 0.312.57within the sector's middle half▼ 1.515.60above the sector's middle half▲ 3.033.44above the sector's middle half▼ 2.16
Return on assets (ROA)0.6%--0.8%▼ 1.4pp-7.6%below the sector's middle half▼ 6.8pp4.7%within the sector's middle half▲ 12.3pp1.7%within the sector's middle half▼ 3.0pp7.0%within the sector's middle half▲ 5.3pp4.5%within the sector's middle half▼ 2.5pp-3.5%below the sector's middle half▼ 8.0pp
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 a loss of €6,512, after a profit of €21,381 in 2024. It is the lowest result since 2020.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €283,573
Fixed assets
€27,365 ▲ 82.4%
Current assets
€256,208 ▲ 3.1%
Equity and liabilities €283,573
Equity
€208,751 ▼ 4.6%
Debt
€74,822 ▲ 67.3%
Debt's share of the balance-sheet total rises from 17.0% to 26.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€5,584
Cash flow
-€9,104
Debt to equity
0.36▲
2024 · 0.20
ROE
-4.8%▼
2024 · 5.4%
Interest coverage
-1.67
Debt ≤ 1 year
€74,459▲
2024 · €44,394
Income taxes
€179▼
2024 · €7,166
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €432 | - | - | €16,796 |
| Financial fixed assets | - | - | - | - | €1,497 |
| Depreciation and write-downs of the year | €5,635 | €5,691 | - | - | €928 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €29,624 | - | €817 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,635 | €5,635 | €5,635 | €5,635 | €5,691 | - | - | €928 | - |
| Other operating charges640/8 | - | - | - | €276 | €1,058 | €321 | €2,594 | €636 | ▼ 75.5% |
| Gross operating margin9900 | €14,388 | €6,016 | -€7,120 | €18,320 | €13,942 | €36,039 | €23,975 | -€4,948 | - |
| Operating profit (loss)9901 | €8,144 | -€69 | -€13,045 | €12,409 | €7,193 | €35,717 | €21,381 | -€6,512 | - |
| Financial income75/76B | - | - | - | €0 | €0 | - | €24 | - | - |
| Recurring financial income75 | - | - | - | €0 | €0 | - | €24 | - | - |
| Financial charges65/66B | - | - | - | €1,087 | €729 | €1,189 | €2,381 | €3,341 | ▲ 40.4% |
| Recurring financial charges65 | €4,479 | €1,920 | €4,487 | €1,087 | €729 | €1,189 | €2,381 | €3,341 | ▲ 40.4% |
| Profit (loss) for the period before taxes9903 | €3,665 | -€1,989 | -€17,532 | €11,323 | €6,465 | €34,529 | €19,024 | -€9,853 | - |
| Income taxes67/77 | €1,838 | €168 | €146 | €191 | €2,427 | €11,399 | €7,166 | €179 | ▼ 97.5% |
| Profit (loss) for the period9904 | €1,827 | -€2,157 | -€17,678 | €11,132 | €4,038 | €23,130 | €11,858 | -€10,032 | - |
| Profit (loss) for the period to be appropriated9905 | €1,827 | -€2,157 | -€17,678 | €11,132 | €4,038 | €23,130 | €11,858 | -€10,032 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €321,223 | €255,115 | €232,315 | €237,650 | €238,916 | €329,643 | €263,518 | €283,573 | ▲ 7.6% |
| Fixed assets21/28 | €37,538 | €31,904 | €26,269 | €20,635 | €15,376 | €15,000 | €15,000 | €27,365 | ▲ 82.4% |
| Tangible fixed assets22/27 | €22,538 | €16,904 | €11,269 | €5,635 | €376 | - | - | €15,868 | - |
| Plant, machinery and equipment23 | - | - | - | - | €376 | - | - | €10,697 | - |
| Furniture and vehicles24 | - | - | - | €5,635 | - | - | - | €477 | - |
| Leasing and similar rights25 | - | - | - | - | - | - | - | €4,694 | - |
| Financial fixed assets28 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | €11,497 | ▼ 23.4% |
| Current assets29/58 | €283,684 | €223,212 | €206,046 | €217,016 | €223,541 | €314,643 | €248,518 | €256,208 | ▲ 3.1% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €246,607 | €219,747 | ▼ 10.9% |
| Other amounts receivable291 | - | - | - | - | - | - | €246,607 | €219,747 | ▼ 10.9% |
| Amounts receivable within one year40/41 | €278,173 | €219,381 | €196,519 | €215,941 | €221,314 | €313,859 | €1,525 | €17,150 | ▲ 11× |
| Trade receivables40 | - | - | - | €142,917 | €144,128 | €189,248 | €1,336 | €9,335 | ▲ 599% |
| Other amounts receivable41 | - | - | - | €73,024 | €77,186 | €124,611 | €189 | €7,814 | ▲ 41× |
| Cash at bank and in hand54/58 | €5,375 | €2,764 | €8,541 | €84 | €1,196 | €431 | €2 | €11,786 | ▲ 4,752× |
| Deferred charges and accrued income490/1 | - | - | - | €990 | €1,031 | €353 | €383 | €7,525 | ▲ 20× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €321,223 | €255,115 | €232,315 | €237,650 | €238,916 | €329,643 | €263,518 | €283,573 | ▲ 7.6% |
| Equity10/15 | €188,461 | €186,304 | €168,626 | €179,758 | €183,796 | €206,925 | €218,783 | €208,751 | ▼ 4.6% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €182,261 | €182,261 | €182,261 | €182,261 | €182,261 | €200,725 | €212,583 | €212,583 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €180,401 | €180,401 | €200,725 | €212,583 | €212,583 | = |
| Profit (loss) carried forward14 | - | -€2,157 | -€19,835 | -€8,703 | -€4,666 | - | - | -€10,032 | - |
| Amounts payable17/49 | €132,761 | €68,811 | €63,688 | €57,892 | €55,120 | €122,718 | €44,735 | €74,822 | ▲ 67.3% |
| Amounts payable after more than one year17 | €11,739 | €2,348 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €120,674 | €66,129 | €62,609 | €57,582 | €54,794 | €122,388 | €44,394 | €74,459 | ▲ 67.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €3,878 | - |
| Financial debts43 | - | - | - | €29,475 | €29,475 | €30,722 | - | - | - |
| Credit institutions430/8 | - | - | - | €29,475 | €29,475 | €30,722 | - | - | - |
| Trade debts44 | €58,059 | €5,594 | €8,608 | €6,231 | €2,524 | €46,507 | €11,935 | €49,282 | ▲ 313% |
| Suppliers440/4 | - | - | - | €6,231 | €2,524 | €46,507 | €11,935 | €49,282 | ▲ 313% |
| Taxes, remuneration and social security45 | - | - | - | €337 | €2,997 | €27,479 | €18,565 | €9,423 | ▼ 49.2% |
| Taxes450/3 | - | - | - | €337 | €2,997 | €27,479 | €18,565 | €7,345 | ▼ 60.4% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €2,078 | - |
| Other amounts payable47/48 | - | - | - | €21,540 | €19,799 | €17,679 | €13,894 | €11,876 | ▼ 14.5% |
| Accrued charges and deferred income492/3 | - | - | - | €311 | €327 | €330 | €341 | €363 | ▲ 6.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,827 | -€2,157 | -€17,678 | €11,132 | €4,038 | €23,130 | €11,858 | -€10,032 | - |
| + Depreciation and write-downs630 | €5,635 | €5,635 | €5,635 | €5,635 | €5,691 | - | - | €928 | - |
| Operating cash flow (approximation) | €7,462 | €3,478 | -€12,044 | €16,767 | €9,728 | €23,130 | €11,858 | -€9,104 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€432 | €376 | €0 | -€13,293 | - |
| Change in cash | - | -€2,611 | €5,777 | -€8,457 | €1,111 | -€765 | -€429 | €11,783 | - |
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, 6,908 companies had the same profile as WIVA sloop has now. Two years later, 90.9% were still going and 1.1% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
90.9%
was still going
7.8%
stopped otherwise
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WIVA sloop itself: 1.0% 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 6,908 companies, not a prediction for WIVA sloop. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-10-2026 | 2026-00596851 | |
| 31-12-2024 | abbreviated format | 11-07-2025 | 2025-00276981 | |
| 31-12-2023 | abbreviated format | 12-07-2024 | 2024-00255592 | |
| 31-12-2022 | abbreviated format | 14-07-2023 | 2023-00246550 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20411616 | |
| 31-12-2020 | abbreviated format | 16-07-2021 | 2021-36400282 | |
| 31-12-2019 | abbreviated format | 13-11-2020 | 2020-70500370 | |
| 31-12-2018 | micro format | 27-09-2019 | 2019-66800134 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-56300509 | |
| 31-12-2016 | abbreviated format | 27-09-2017 | 2017-63500224 |