WOODMASTER.BE
ActiveWOODMASTER.BE has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.47M and a net result of €-913k. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 15% of 8002 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability14▲+2
Solvency32▼-27
Growth24▼-13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 4.39 against 1.39 in 2024; short-term debt: 22.2% and cash: 0.3% of total assets), but 93.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-913k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 8002 sector peers (2025).
NBB · sector comparisonPosition among 8002 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 26-11-2025, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
50 d late
2023
on the day
2022
31 d early
2021
20 d early
2020
9 d late
2019
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close23-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€10.87M▼ 35.4%
2023 · €16.82M
2019: €16.72M
2020: €17.46M
2021: €16.87M
2022: €16.17M
2023: €16.82M
2019 → 2024
EBIT margin
-2.9%▼ 4.1pp
2023 · 1.2%
2019: 1.1%
2020: 2.3%
2021: 1.2%
2022: 1.3%
2023: 1.2%
2019 → 2024
Net result
€-913k▼ 148%
2024 · €-368k
2019: €74k
2020: €429k
2021: €103k
2022: €310k
2023: €110k
2024: €-368k
2019 → 2025
Working capital
€16.56M▲ 841%
2024 · €1.76M
2019: €913k
2020: €1.12M
2021: €1.20M
2022: €1.92M
2023: €2.15M
2024: €1.76M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€16.87M-€16.17M▼ 4.2%€16.82M▲ 4.0%€10.87M▼ 35.4%
Equity€2.33M-€2.64M▲ 13.3%€2.75M▲ 4.2%€2.38M▼ 13.4%€1.47M▼ 38.4%
Operating result€199k-€214k▲ 7.7%€209k▼ 2.3%€-312k€-1.12M▼ 259%
Net result€103k-€310k▲ 201%€110k▼ 64.5%€-368k€-913k▼ 148%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.12M in 2025 against €312k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22.00M
Fixed assets
€558k▼ 21.8%
Current assets
€21.44M▲ 242%
Equity and liabilities €22.00M
Equity
€1.47M▼ 38.4%
Debt
€20.54M▲ 347%
The debt ratio rises from 65.9% to 93.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-1.02M▼
2024 · €-203k
Cash flow
€-815k▼
2024 · €-259k
Solvency
6.7%▼
2024 · 34.1%
Current ratio
4.39▲
2024 · 1.39
Quick ratio
3.86▲
2024 · 0.71
Debt / equity
14.02▲
2024 · 1.93
ROE
-62.3%▼
2024 · -15.5%
ROA
-4.1%▲
2024 · -5.3%
Interest coverage
-11.56▼
2024 · -3.41
Debt
€20.54M▲
2024 · €4.60M
Debt ≤ 1 year
€4.88M▲
2024 · €4.50M
Debt > 1 year
€67k▼
2024 · €95k
Income taxes
€1k▼
2024 · €2k
Staff costs
€1.04M▼
2024 · €1.13M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€6.98M€22.00M▲
Fixed assets21/28€714k€558k▼
Tangible fixed assets22/27€607k€550k▼
Land and buildings22€240k€266k▲
Plant, machinery and equipment23€149k€117k▼
Furniture and vehicles24€67k€46k▼
Leasing and similar rights25€52k€38k▼
Other tangible fixed assets26€98k€83k▼
Financial fixed assets28€107k€8k▼
Affiliated companies280/1€102k-
Participating interests280€102k-
Other financial fixed assets284/8€6k-
Amounts receivable and cash guarantees285/8€6k-
Current assets29/58€6.26M€21.44M▲
Amounts receivable after more than one year29-€1.25M
Other amounts receivable291-€1.25M
Stocks and contracts in progress3€3.06M€2.60M▼
Stocks30/36€3.06M€2.60M▼
Goods purchased for resale34€3.06M-
Amounts receivable within one year40/41€3.02M€17.50M▲
Trade receivables40€2.95M€1.82M▼
Other amounts receivable41€79k€15.68M▲
Cash at bank and in hand54/58€121k€67k▼
Deferred charges and accrued income490/1€60k€28k▼
Equity and liabilities
Total equity and liabilities10/49€6.98M€22.00M▲
Equity10/15€2.38M€1.47M▼
Contributions10/11€248k€248k=
Capital10€248k€248k=
Issued capital100€248k€248k=
Reserves13€40k€40k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Tax-exempt reserves132€15k€15k=
Profit (loss) carried forward14€2.09M€1.18M▼
Amounts payable17/49€4.60M€20.54M▲
Amounts payable after more than one year17€95k€67k▼
Financial debts170/4€95k€67k▼
Leasing and similar obligations172€32k-
Credit institutions173€63k-
Amounts payable within one year42/48€4.50M€4.88M▲
Current portion of amounts payable after more than one year42€47k€27k▼
Financial debts43€855k€1.48M▲
Credit institutions430/8€855k€1.48M▲
Trade debts44€1.60M€1.25M▼
Suppliers440/4€1.60M€1.25M▼
Advances received on contracts in progress46€1.72M€1.63M▼
Taxes, remuneration and social security45€238k€207k▼
Taxes450/3€44k€45k▲
Remuneration and social security454/9€194k€162k▼
Other amounts payable47/48€39k€288k▲
Accrued charges and deferred income492/3€2k€15.59M▲
Income statement
Code20242025
Operating income70/76A€11.14M-
Turnover70€10.87M-
Other operating income74€261k-
Non-recurring operating income76A€5k€9k▲
Operating charges60/66A€11.45M-
Goods for resale, raw materials and consumables60€8.68M-
Purchases600/8€8.64M-
Change in stocks: decrease (increase)609€40k-
Services and other goods61€1.56M-
Remuneration, social security and pensions62€1.13M€1.04M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€109k€98k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-63k€204k▲
Other operating charges640/8€29k€29k▲
Non-recurring operating charges66A€3k€13k▲
Gross operating margin9900-€257k
Operating profit (loss)9901€-312k€-1.12M▼
Financial income75/76B€28k€300k▲
Recurring financial income75€9k€49k▲
Income from financial fixed assets750€426-
Income from current assets751€6k-
Other financial income752/9€3k-
Non-recurring financial income76B€19k€251k▲
Financial charges65/66B€82k€89k▲
Recurring financial charges65€63k€89k▲
Debt charges650€60k-
Other financial charges652/9€4k-
Non-recurring financial charges66B€19k€0▼
Profit (loss) for the period before taxes9903€-367k€-911k▼
Income taxes67/77€2k€1k▼
Taxes670/3€2k-
Tax adjustments and reversals of tax provisions77€133-
Profit (loss) for the period9904€-368k€-913k▼
Profit (loss) for the period to be appropriated9905€-368k€-913k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.09M€1.18M▼
Profit (loss) brought forward from the previous period14P€2.46M€2.09M▼
Social balance
Average headcount (FTE)908711.910.7▼
The notes to these accounts (30 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-09
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor reappointment2 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor reappointment2 facts ▸
- General meeting, 2025-09-08
- Auditor reappointment, Callens Vandelanotte (commissaris)
2025
26-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
31-03
Financial
Weakest financial yearnet €-913k
Net result drops to €-913k, the lowest in the series.
31-03
Financial
Liquidity triplescurrent ratio 4.39
Current ratio from 1.39 to 4.39.
2024
20-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 50 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
11-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 9 days late
31-03
Financial
Highest result since 2019net €429k ▲478%
Operating result €400k, net result €429k, both a record.
31-03
Financial
Equity above €2MEq €2.22M ▲23.9%
2 profitable years in a row build equity to €2.22M.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
19-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2019
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
24-10-2019
De Marez Roger: Resigned as Director
24-10-2019
Rogier Havegeer: Resigned as Director
Location & real-estate footprint
Registered office, Wingene · 1 establishment unit since 1979
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Akkerstraat 98750 WingeneGround area
1.8 ha
Building footprint
1.0 ha
Volume, LiDAR
62,182 m³
2 parcels, Flanders · tallest building 12.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HACO TRADING COMPANY
since 19792.016.107.089
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37019C0326/00Y000 | Flanders | 9,020 m² | 1 · 4,610 m² | 7.5 m · 1 fl. |
| 36001B1133/00D000 | Flanders | 8,557 m² | 1 · 5,789 m² | 12.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| Callens VandelanotteCurrent Statutory auditor | 08-09-2025 → present |
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 1,491 EUR awarded · 1,491 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 827 EUR | 1,451 EUR |
| 2024 | 1 | 624 EUR | 0 EUR |
| 2022 | 1 | 40 EUR | 40 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 2,507 companies in sector 46649 we hold annual accounts for 1,760. 1,309 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-04-1979
Fiscal year end31-03
Legal name NL
WOODMASTER by HACO
Activities, NACEBEL
46649Wholesale of other machinery and equipment
51872
28410Manufacture of machinery and equipment not elsewhere classified
29420
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
47990Retail trade
52630
Sources
Crossroads Bank for EnterprisesNational Bank · 46 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.