WoonST
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 22-06-2026 PDF all 47 filings
Turnover
€20.7m▲ 1.2%
2024 · €20.5m
EBIT margin
-1.6%▲ 0.4pp
2024 · -2.0%
Net result
-€220,913▲ 55.4%
2024 · -€495,511
Working capital
€22.3m▲ 10.1%
2024 · €20.3m
In the rankings
#1 company by staff growth in East Flanders, Real estate sector#1 company by total assets in Temse, Real estate sector#1 oldest company in Temse, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€20.7m
▲ 1.2%
2025
20182025
Operating result
-€338,162
▲ 18.2%
2025
20182025
Net result
-€220,913
▲ 55.4%
2025
lowest quarter of the sector
20182025
EBIT margin
-1.6%
▲ 0.4pp
2025
20182025
Equity
€57.0m
▼ 0.4%
2025
highest quarter of the sector
20182025
Total assets
€264.8m
▲ 7.3%
2025
highest quarter of the sector
20182025
Debt
€205.9m
▲ 9.8%
2025
20182025
Working capital
€22.3m
▲ 10.1%
2025
highest quarter of the sector
20182025
Solvency
21.5%
▼ 1.7pp
2025
middle half of the sector
20182025
Current ratio
2.55
▼ 0.06
2025
middle half of the sector
20182025
Return on assets (ROA)
-0.1%
▲ 0.1pp
2025
middle half of the sector
20182025
Staff (FTE)
63
▲ 8.6%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€7.0m-€7.2m▲ 2.5%€7.9m▲ 9.3%€8.1m▲ 2.0%€8.3m▲ 2.8%€28.8m▲ 247%€20.5m▼ 28.8%€20.7m▲ 1.2%
Operating result€1.7m-€1.8m▲ 2.7%€3.7m▲ 109%€2.0m▼ 47.2%€1.1m▼ 45.2%€2.0m▲ 82.2%-€0.4m-€0.3m▲ 18.2%
Net result€0.9m-€1.1m▲ 14.4%€2.9mabove the sector's middle half▲ 174%€1.3mabove the sector's middle half▼ 55.7%€0.5mabove the sector's middle half▼ 62.3%€1.7mabove the sector's middle half▲ 245%-€0.5mbelow the sector's middle half-€0.2mbelow the sector's middle half▲ 55.4%
EBIT margin24.7%-24.8%=47.3%▲ 22.5pp24.5%▼ 22.8pp13.1%▼ 11.4pp6.8%▼ 6.2pp-2.0%▼ 8.9pp-1.6%▲ 0.4pp
Equity€31.6m-€32.4m▲ 2.6%€35.1mabove the sector's middle half▲ 8.3%€36.2mabove the sector's middle half▲ 3.0%€37.5mabove the sector's middle half▲ 3.7%€58.1mabove the sector's middle half▲ 55.1%€57.2mabove the sector's middle half▼ 1.6%€57.0mabove the sector's middle half▼ 0.4%
Total assets€109.0m-€114.1m▲ 4.7%€120.7mabove the sector's middle half▲ 5.8%€132.0mabove the sector's middle half▲ 9.4%€146.5mabove the sector's middle half▲ 11.0%€246.4mabove the sector's middle half▲ 68.1%€246.6mabove the sector's middle half▲ 0.1%€264.8mabove the sector's middle half▲ 7.3%
Debt€76.9m-€81.2m▲ 5.6%€85.1m▲ 4.8%€95.4m▲ 12.0%€108.6m▲ 13.8%€186.3m▲ 71.6%€187.6m▲ 0.7%€205.9m▲ 9.8%
Working capital€8.3m-€8.8m▲ 5.5%€10.1mabove the sector's middle half▲ 15.1%€11.0mabove the sector's middle half▲ 8.1%€9.4mabove the sector's middle half▼ 14.5%€23.1mabove the sector's middle half▲ 146%€20.3mabove the sector's middle half▼ 12.0%€22.3mabove the sector's middle half▲ 10.1%
Solvency29.0%-28.4%▼ 0.6pp29.1%within the sector's middle half▲ 0.7pp27.4%within the sector's middle half▼ 1.7pp25.6%within the sector's middle half▼ 1.8pp23.6%within the sector's middle half▼ 2.0pp23.2%within the sector's middle half▼ 0.4pp21.5%within the sector's middle half▼ 1.7pp
Current ratio3.31-3.50▲ 0.192.91within the sector's middle half▼ 0.593.27within the sector's middle half▲ 0.352.52within the sector's middle half▼ 0.742.58within the sector's middle half▲ 0.052.60within the sector's middle half▲ 0.032.55within the sector's middle half▼ 0.06
Return on assets (ROA)0.9%-0.9%▲ 0.1pp2.4%within the sector's middle half▲ 1.5pp1.0%within the sector's middle half▼ 1.5pp0.3%within the sector's middle half▼ 0.7pp0.7%within the sector's middle half▲ 0.4pp-0.2%within the sector's middle half▼ 0.9pp-0.1%within the sector's middle half▲ 0.1pp
Staff (FTE)13.2-13.2=13.1above the sector's middle half▼ 0.8%13.8above the sector's middle half▲ 5.3%13.7above the sector's middle half▼ 0.7%47above the sector's middle half▲ 243%58above the sector's middle half▲ 23.4%63above the sector's middle half▲ 8.6%
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 €338,162, smaller than the loss of €413,473 in 2024.
Large changes and their cause
- 2025 Net result +55% on 2024. Demerger with de Thuisbouwer, proposed with effect from 23-04-2025.
- 2023 Turnover +247%, Net result +245%, Equity +55%, Total assets +68%, Staff (FTE) +243% on 2022. Demerger with Gewestelijke Maatschappij voor Huisvesting, Official Gazette 24-07-2023. Merger absorbing Sint-Niklase Maatschappij voor de Huisvesting, effective 01-01-2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €264.8m
Fixed assets
€228.0m ▲ 6.7%
Current assets
€36.8m ▲ 11.6%
Equity and liabilities €264.8m
Equity
€57.0m ▼ 0.4%
Provisions
€1.8m ▲ 0.8%
Debt
€205.9m ▲ 9.8%
Debt's share of the balance-sheet total rises from 76.1% to 77.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7.5m▲
2024 · €7.2m
Cash flow
€7.6m▲
2024 · €7.1m
Quick ratio
2.11▼
2024 · 2.35
Debt to equity
3.61▲
2024 · 3.28
ROE
-0.4%▲
2024 · -0.9%
Interest coverage
1.77▼
2024 · 1.83
Debt ≤ 1 year
€14.4m▲
2024 · €12.7m
Debt > 1 year
€190.1m▲
2024 · €173.4m
Income taxes
-€5,597▼
2024 · €57,542
Customer credit
20 days▲
2024 · 17 days
Supplier credit
1762 days▲
2024 · 918 days
Staff costs
€5.5m▲
2024 · €5.0m
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 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 16 | 15 | 64 |
| full-time | 5 | 4 | 37 |
| part-time | 11 | 11 | 27 |
| in full-time equivalents | 13.8 | 13.8 | 58 |
| Average over the year, in full-time equivalents | 13.5 | 13.7 | 58.2 |
| On a permanent contract | 16 | 15 | 61 |
| Joined | 1 | 1 | 17 |
| Left | 0 | 2 | 11 |
| Agency workers, average number | - | 0.3 | 5.5 |
| Training hours | - | - | 0 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €14.6m | €18.1m | €209.7m | €12.8m | €24.0m |
| Intangible fixed assets | - | €184,140 | €128,170 | €236,262 | - |
| Financial fixed assets | - | €411,739 | €189,428 | €158,562 | €1 |
| Depreciation and write-downs of the year | €3.7m | €3.8m | €7.0m | €7.6m | €7.8m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €5,615 | €7,600 | €16,500 | €17,618 | €27,153 |
| Other work by the auditor | - | - | - | €14,520 | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 17 entries · €14.2m awarded · €12.9m paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 5 | €4.2m | €3.7m |
| 2024 | 4 | €3.7m | €3.5m |
| 2023 | 3 | €2.7m | €3.0m |
| 2022 | 5 | €3.7m | €2.6m |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €9.1m | €9.5m | €30.8m | €23.4m | €23.9m | ▲ 2.4% |
| Turnover70 | €7.0m | €7.2m | €7.9m | €8.1m | €8.3m | €28.8m | €20.5m | €20.7m | ▲ 1.2% |
| Own construction capitalised72 | - | - | - | €0.3m | €0.3m | €0.08m | €0.3m | €0.2m | ▼ 19.5% |
| Other operating income74 | - | - | - | €0.5m | €0.7m | €1.6m | €2.0m | €2.2m | ▲ 7.1% |
| Non-recurring operating income76A | - | - | - | €0.2m | €0.3m | €0.3m | €0.6m | €0.8m | ▲ 40.4% |
| Operating charges60/66A | - | - | - | €7.1m | €8.5m | €28.8m | €23.8m | €24.3m | ▲ 2.0% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | - | €11.0m | €1.5m | €1.0m | ▼ 34.2% |
| Purchases600/8 | - | - | - | - | - | €2.7m | €1.0m | €4.1m | ▲ 291% |
| Change in stocks: decrease (increase)609 | - | - | - | - | - | €8.2m | €0.4m | -€3.1m | - |
| Services and other goods61 | - | - | - | €1.7m | €2.0m | €5.6m | €7.7m | €7.8m | ▲ 1.3% |
| Remuneration, social security and pensions62 | - | - | - | €1.1m | €1.2m | €4.1m | €5.0m | €5.5m | ▲ 9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3.3m | €3.4m | €3.5m | €3.7m | €3.8m | €7.0m | €7.6m | €7.8m | ▲ 3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.01m | €0.04m | -€0.1m | €0.05m | €0.06m | ▲ 33.7% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | -€0.1m | -€0.05m | -€0.03m | ▲ 46.4% |
| Other operating charges640/8 | - | - | - | €0.7m | €0.7m | €1.3m | €1.7m | €1.9m | ▲ 11.9% |
| Non-recurring operating charges66A | - | - | - | - | €0.7m | €0.07m | €0.4m | €0.3m | ▼ 24.4% |
| Operating profit (loss)9901 | €1.7m | €1.8m | €3.7m | €2.0m | €1.1m | €2.0m | -€0.4m | -€0.3m | ▲ 18.2% |
| Financial income75/76B | - | - | - | €1.1m | €1.3m | €3.3m | €3.9m | €4.3m | ▲ 11.4% |
| Recurring financial income75 | €0.6m | €0.8m | €0.9m | €1.1m | €1.3m | €3.2m | €3.9m | €4.3m | ▲ 11.4% |
| Income from current assets751 | - | - | - | €0.008m | €0.03m | €0.2m | €0.4m | €0.3m | ▼ 16.4% |
| Other financial income752/9 | - | - | - | €1.1m | €1.2m | €3.0m | €3.5m | €4.0m | ▲ 14.4% |
| Non-recurring financial income76B | - | - | - | - | - | €0.07m | - | €0.001m | - |
| Financial charges65/66B | - | - | - | €1.7m | €1.8m | €3.5m | €3.9m | €4.2m | ▲ 7.9% |
| Recurring financial charges65 | €1.4m | €1.5m | €1.6m | €1.7m | €1.8m | €3.5m | €3.9m | €4.2m | ▲ 7.9% |
| Debt charges650 | €1.4m | €1.5m | €1.6m | €1.7m | €1.8m | €3.5m | €3.9m | €4.2m | ▲ 7.9% |
| Other financial charges652/9 | - | - | - | €0.009m | €0.002m | €0.008m | €0.01m | €0.01m | ▲ 10.7% |
| Profit (loss) for the period before taxes9903 | €1.0m | €1.1m | €3.1m | €1.4m | €0.5m | €1.8m | -€0.5m | -€0.3m | ▲ 45.2% |
| Transfer from deferred taxes780 | - | - | - | €0.01m | €0.01m | €0.02m | €0.03m | €0.03m | ▲ 6.5% |
| Income taxes67/77 | €0.05m | €0.07m | €0.2m | €0.08m | €0.03m | €0.09m | €0.06m | -€0.006m | - |
| Taxes670/3 | - | - | - | €0.09m | €0.03m | €0.1m | €0.07m | €118 | ▼ 99.8% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.01m | - | €0.02m | €0.02m | €0.006m | ▼ 65.3% |
| Profit (loss) for the period9904 | €0.9m | €1.1m | €2.9m | €1.3m | €0.5m | €1.7m | -€0.5m | -€0.2m | ▲ 55.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.008m | €0.008m | - | €0.02m | €0.008m | ▼ 50.0% |
| Profit (loss) for the period to be appropriated9905 | €0.9m | €1.1m | €3.0m | €1.3m | €0.5m | €1.7m | -€0.5m | -€0.2m | ▲ 55.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €109.0m | €114.1m | €120.7m | €132.0m | €146.5m | €246.4m | €246.6m | €264.8m | ▲ 7.3% |
| Fixed assets21/28 | €97.1m | €101.8m | €105.3m | €116.2m | €131.0m | €208.7m | €213.7m | €228.0m | ▲ 6.7% |
| Intangible fixed assets21 | - | - | - | - | €0.2m | €0.3m | €0.5m | €0.4m | ▼ 9.4% |
| Tangible fixed assets22/27 | €97.1m | €101.8m | €105.3m | €116.2m | €130.4m | €207.8m | €212.4m | €226.8m | ▲ 6.7% |
| Land and buildings22 | - | - | - | €104.3m | €107.0m | €194.7m | €205.1m | €210.6m | ▲ 2.7% |
| Plant, machinery and equipment23 | - | - | - | €0.009m | €0.007m | €0.008m | €0.02m | €0.01m | ▼ 33.1% |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.04m | €0.1m | €0.1m | €0.1m | ▼ 22.7% |
| Leasing and similar rights25 | - | - | - | - | - | - | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0 | €0 | - |
| Assets under construction and advance payments27 | - | - | - | €11.8m | €23.4m | €13.0m | €7.1m | €16.0m | ▲ 125% |
| Financial fixed assets28 | - | - | €0.001m | €0.001m | €0.4m | €0.6m | €0.8m | €0.8m | ▲ 2.0% |
| Affiliated companies280/1 | - | - | - | - | - | €2 | €2 | €3 | ▲ 50.0% |
| Participating interests280 | - | - | - | - | - | €2 | €2 | €3 | ▲ 50.0% |
| Other financial fixed assets284/8 | - | - | - | €0.001m | €0.4m | €0.6m | €0.8m | €0.8m | ▲ 2.0% |
| Shares284 | - | - | - | €0.001m | €0.4m | €0.6m | €0.8m | €0.8m | ▲ 2.0% |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | - | €0.02m | €0.03m | €0.03m | ▲ 1.9% |
| Current assets29/58 | €12.0m | €12.3m | €15.4m | €15.8m | €15.5m | €37.7m | €32.9m | €36.8m | ▲ 11.6% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €0 | €0 | - |
| Trade receivables290 | - | - | - | - | - | - | €0 | €0 | - |
| Other amounts receivable291 | - | - | - | - | - | - | €0 | €0 | - |
| Stocks and contracts in progress3 | - | - | - | - | - | €3.7m | €3.3m | €6.4m | ▲ 95.4% |
| Stocks30/36 | - | - | - | - | - | €3.7m | €3.3m | €6.4m | ▲ 95.4% |
| Raw materials and consumables30/31 | - | - | - | - | - | - | €0 | - | - |
| Work in progress32 | - | - | - | - | - | - | €0 | - | - |
| Finished goods33 | - | - | - | - | - | - | €0 | - | - |
| Goods purchased for resale34 | - | - | - | - | - | - | €0 | - | - |
| Property held for sale35 | - | - | - | - | - | €3.7m | €3.3m | €6.4m | ▲ 95.4% |
| Advance payments36 | - | - | - | - | - | - | €0 | - | - |
| Contracts in progress37 | - | - | - | - | - | - | €0 | - | - |
| Amounts receivable within one year40/41 | €0.4m | €0.1m | €0.5m | €0.4m | €0.4m | €2.3m | €2.2m | €3.1m | ▲ 44.7% |
| Trade receivables40 | - | - | - | €0.03m | €0.03m | €1.3m | €1.0m | €1.1m | ▲ 16.9% |
| Other amounts receivable41 | - | - | - | €0.4m | €0.3m | €1.1m | €1.2m | €2.0m | ▲ 67.3% |
| Current investments50/53 | - | - | - | - | - | - | €0 | - | - |
| Own shares50 | - | - | - | - | - | - | €0 | - | - |
| Other investments51/53 | - | - | - | - | - | - | €0 | - | - |
| Cash at bank and in hand54/58 | €11.4m | €12.0m | €14.6m | €15.1m | €14.8m | €30.3m | €26.0m | €25.4m | ▼ 2.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.3m | €0.4m | €1.4m | €1.5m | €1.9m | ▲ 24.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €109.0m | €114.1m | €120.7m | €132.0m | €146.5m | €246.4m | €246.6m | €264.8m | ▲ 7.3% |
| Equity10/15 | €31.6m | €32.4m | €35.1m | €36.2m | €37.5m | €58.1m | €57.2m | €57.0m | ▼ 0.4% |
| Contributions10/11 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.06m | €0.04m | €0.04m | ▼ 3.5% |
| Capital10 | - | - | - | €0.04m | €0.04m | - | - | - | - |
| Issued capital100 | - | - | - | €0.07m | €0.07m | - | - | - | - |
| Uncalled capital101 | - | - | - | €0.03m | €0.03m | - | - | - | - |
| Reserves13 | €22.0m | €23.1m | €26.0m | €27.3m | €27.8m | €41.2m | €40.7m | €40.7m | = |
| Non-distributable reserves130/1 | - | - | - | €24.9m | €25.4m | €36.6m | €36.1m | €36.1m | = |
| Legal reserve130 | - | - | - | €0.007m | €0.007m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €34.9m | €36.1m | €36.1m | = |
| Other1319 | - | - | - | €24.8m | €25.3m | €1.7m | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €2.5m | €2.5m | €4.6m | €4.6m | €4.6m | ▼ 0.2% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | -€1.0m | - |
| Investment grants15 | - | - | - | €8.8m | €9.6m | €16.9m | €16.5m | €17.3m | ▲ 4.7% |
| Provisions and deferred taxes16 | €0.6m | €0.5m | €0.4m | €0.4m | €0.5m | €1.9m | €1.8m | €1.8m | ▲ 0.8% |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | €1.0m | €1.0m | €0.9m | ▼ 2.8% |
| Major repairs and maintenance162 | - | - | - | - | - | €0.8m | €0.7m | €0.7m | ▼ 3.6% |
| Other liabilities and charges164/5 | - | - | - | - | - | €0.2m | €0.2m | €0.2m | = |
| Deferred taxes168 | - | - | - | €0.4m | €0.5m | €0.9m | €0.9m | €0.9m | ▲ 4.7% |
| Amounts payable17/49 | €76.9m | €81.2m | €85.1m | €95.4m | €108.6m | €186.3m | €187.6m | €205.9m | ▲ 9.8% |
| Amounts payable after more than one year17 | €73.0m | €77.3m | €79.1m | €89.8m | €102.1m | €170.5m | €173.4m | €190.1m | ▲ 9.6% |
| Financial debts170/4 | - | - | - | €88.4m | €100.7m | €168.6m | €171.5m | €188.0m | ▲ 9.6% |
| Credit institutions173 | - | - | - | €88.4m | €100.7m | €167.3m | €170.2m | €186.8m | ▲ 9.7% |
| Other loans174 | - | - | - | - | - | €1.3m | €1.3m | €1.2m | ▼ 4.0% |
| Other amounts payable178/9 | - | - | - | €1.4m | €1.4m | €1.9m | €1.9m | €2.1m | ▲ 10.5% |
| Amounts payable within one year42/48 | €3.6m | €3.5m | €5.3m | €4.8m | €6.1m | €14.6m | €12.7m | €14.4m | ▲ 14.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3.0m | €3.1m | €6.3m | €6.6m | €7.4m | ▲ 12.1% |
| Trade debts44 | €0.7m | €0.3m | €1.8m | €1.1m | €2.1m | €1.8m | €3.7m | €4.6m | ▲ 26.3% |
| Suppliers440/4 | - | - | - | €1.1m | €2.1m | €1.8m | €3.7m | €4.6m | ▲ 26.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.6m | €0.7m | €1.7m | €1.7m | €1.7m | ▲ 5.2% |
| Taxes450/3 | - | - | - | €0.5m | €0.6m | €1.1m | €1.0m | €1.1m | ▲ 6.5% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.6m | €0.7m | €0.7m | ▲ 3.2% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €4.8m | €0.7m | €0.6m | ▼ 10.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.8m | €0.3m | €1.2m | €1.5m | €1.3m | ▼ 12.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.9m | €1.1m | €2.9m | €1.3m | €0.5m | €1.7m | -€0.5m | -€0.2m | ▲ 55.4% |
| + Depreciation and write-downs630 | €3.3m | €3.4m | €3.5m | €3.7m | €3.8m | €7.0m | €7.6m | €7.8m | ▲ 3.4% |
| Operating cash flow (approximation) | €4.2m | €4.5m | €6.5m | €5.0m | €4.3m | €8.7m | €7.1m | €7.6m | ▲ 7.6% |
| Investment in fixed assets (approximation) | - | -€8.1m | -€7.0m | -€14.6m | -€18.7m | -€84.7m | -€12.6m | -€22.1m | ▼ 75.5% |
| Change in cash | - | €0.6m | €2.6m | €0.5m | -€0.3m | €15.6m | -€4.3m | -€0.6m | ▲ 85.3% |
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, 371 companies had the same profile as WoonST has now. Two years later, 96.8% were still going and 0.5% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a small loss
96.8%
was still going
2.2%
stopped otherwise
0.5%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WoonST 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 371 companies, not a prediction for WoonST. 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 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 22-06-2026 | 2026-00182016 | |
| 31-12-2024 | full format | 17-06-2025 | 2025-00171173 | |
| 31-12-2023 | full format | 24-06-2024 | 2024-00168981 | |
| 31-12-2022 | full format | 19-06-2023 | 2023-00134321 | |
| 31-12-2021 | full format | 12-05-2022 | 2022-20026363 | |
| 31-12-2020 | full format | 08-06-2021 | 2021-18300081 | |
| 31-12-2019 | full format | 14-05-2020 | 2020-12100578 | |
| 31-12-2018 | full format | 09-05-2019 | 2019-12600136 | |
| 31-12-2017 | full format | 03-04-2018 | 2018-09000233 | |
| 31-12-2016 | full format | 18-05-2017 | 2017-12300013 |