WST
ActiveSummary
WST has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €314k and a net result of €20k. Equity is growing by ~9% per year across the filed fiscal years. Its solvency ranks better than 90% of 4654 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-4
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 6.14 against 5.01 in 2024; short-term debt: 13.4% and cash: 71.9% of total assets), and 13.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
86.2%
Return on assets
5.6%
Age of the figures
9 mo
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
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
30 d early
2023
15 d early
2022
29 d late
2021
25 d late
2020
59 d late
2019
53 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€314k▲ 7.0%
2024 · €293k
2018: €131klowest in 8 years
2019: €163k▲ +24.7% vs 2018
2020: €231k▲ +41.7% vs 2019
2021: €285k▲ +23.2% vs 2020
2022: €328k▲ +15.4% vs 2021highest in 8 years
2023: €306k▼ -6.7% vs 2022
2024: €293k▼ -4.2% vs 2023
2025: €314k▲ +7.0% vs 2024
2018 → 2025
Total assets
€364k▲ 5.8%
2024 · €344k
2018: €201klowest in 8 years
2019: €228k▲ +13.3% vs 2018
2020: €301k▲ +32.2% vs 2019
2021: €367k▲ +21.9% vs 2020
2022: €398k▲ +8.3% vs 2021highest in 8 years
2023: €355k▼ -10.6% vs 2022
2024: €344k▼ -3.1% vs 2023
2025: €364k▲ +5.8% vs 2024
2018 → 2025
Net result
€20k▼ 36.4%
2024 · €32k
2018: €46k
2019: €32k▼ -29.7% vs 2018
2020: €68k▲ +111% vs 2019highest in 8 years
2021: €55k▼ -19.8% vs 2020
2022: €44k▼ -19.7% vs 2021
2023: €32k▼ -27.5% vs 2022
2024: €32k▲ +1.3% vs 2023
2025: €20k▼ -36.4% vs 2024lowest in 8 years
2018 → 2025
Working capital
€251k▲ 27.0%
2024 · €198k
2018: €113klowest in 8 years
2019: €141k▲ +24.6% vs 2018
2020: €201k▲ +43.1% vs 2019
2021: €250k▲ +24.3% vs 2020
2022: €214k▼ -14.6% vs 2021
2023: €218k▲ +1.8% vs 2022
2024: €198k▼ -9.0% vs 2023
2025: €251k▲ +27.0% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€285k-€328k▲ 15.4%€306k▼ 6.7%€293k▼ 4.2%€314k▲ 7.0%
2021: €285klowest in 5 years
2022: €328k▲ +15.4% vs 2021highest in 5 years
2023: €306k▼ -6.7% vs 2022
2024: €293k▼ -4.2% vs 2023
2025: €314k▲ +7.0% vs 2024
Operating result€79k-€66k▼ 16.3%€44k▼ 32.7%€45k▲ 2.2%€29k▼ 36.4%
2021: €79khighest in 5 years
2022: €66k▼ -16.3% vs 2021
2023: €44k▼ -32.7% vs 2022
2024: €45k▲ +2.2% vs 2023
2025: €29k▼ -36.4% vs 2024lowest in 5 years
Net result€55k-€44k▼ 19.7%€32k▼ 27.5%€32k▲ 1.3%€20k▼ 36.4%
2021: €55khighest in 5 years
2022: €44k▼ -19.7% vs 2021
2023: €32k▼ -27.5% vs 2022
2024: €32k▲ +1.3% vs 2023
2025: €20k▼ -36.4% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €364k
Fixed assets
€64k ▼ 34.2%
Current assets
€300k ▲ 21.4%
Equity and liabilities €364k
Equity
€314k ▲ 7.0%
Debt
€50k ▼ 1.3%
Debt's share of the balance-sheet total falls from 14.8% to 13.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€61k▼
2024 · €71k
Cash flow
€53k▼
2024 · €58k
Current ratio
6.14▲
2024 · 5.01
Debt to equity
0.16▼
2024 · 0.17
ROE
6.5%▼
2024 · 11.0%
ROA
5.6%▼
2024 · 9.3%
Interest coverage
153.56▲
2024 · 144.83
Debt ≤ 1 year
€49k▼
2024 · €49k
Income taxes
€8k▼
2024 · €13k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€344k€364k▲
Fixed assets21/28€97k€64k▼
Tangible fixed assets22/27€96k€63k▼
Land and buildings22€14k€11k▼
Plant, machinery and equipment23€3k€1k▼
Furniture and vehicles24€79k€51k▼
Financial fixed assets28€210€210=
Current assets29/58€247k€300k▲
Amounts receivable within one year40/41€62k€36k▼
Trade receivables40€54k€35k▼
Other amounts receivable41€9k€2k▼
Cash at bank and in hand54/58€176k€262k▲
Deferred charges and accrued income490/1€9k€2k▼
Equity and liabilities
Total equity and liabilities10/49€344k€364k▲
Equity10/15€293k€314k▲
Contributions10/11€12k€12k=
Reserves13€281k€301k▲
Distributable reserves133€281k€301k▲
Amounts payable17/49€51k€50k▼
Amounts payable within one year42/48€49k€49k▼
Financial debts43€4k€3k▼
Credit institutions430/8€4k€3k▼
Trade debts44€11k€4k▼
Suppliers440/4€11k€4k▼
Taxes, remuneration and social security45€2k€6k▲
Taxes450/3-€4k
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€33k€36k▲
Accrued charges and deferred income492/3€1k€1k▼
Income statement
Code20242025
Non-recurring operating income76A€7k€2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€33k▲
Other operating charges640/8€3k€3k▼
Non-recurring operating charges66A-€577
Gross operating margin9900€75k€65k▼
Operating profit (loss)9901€45k€29k▼
Financial income75/76B-€14
Recurring financial income75-€14
Financial charges65/66B€493€400▼
Recurring financial charges65€493€400▼
Profit (loss) for the period before taxes9903€45k€29k▼
Income taxes67/77€13k€8k▼
Profit (loss) for the period9904€32k€20k▼
Profit (loss) for the period to be appropriated9905€32k€20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€32k€20k▼
Transfer from equity791/2€45k-
Transfer to equity691/2€32k€20k▼
To other reserves6921€32k€20k▼
Profit to be distributed694/7€45k-
Return on contributions (dividend)694€45k-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €6k | €11k | €4k | €7k | €2k | ▼ 70.0% |
| Remuneration, social security and pensions62 | - | €615 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €13k | €27k | €26k | €33k | ▲ 25.5% |
| Other operating charges640/8 | €1k | €2k | €2k | €3k | €3k | ▼ 18.6% |
| Non-recurring operating charges66A | - | - | - | - | €577 | - |
| Gross operating margin9900 | €91k | €81k | €73k | €75k | €65k | ▼ 13.3% |
| Operating profit (loss)9901 | €79k | €66k | €44k | €45k | €29k | ▼ 36.4% |
| Financial income75/76B | €0 | €0 | €4 | - | €14 | - |
| Recurring financial income75 | €0 | €0 | €4 | - | €14 | - |
| Financial charges65/66B | €2k | €1k | €392 | €493 | €400 | ▼ 18.8% |
| Recurring financial charges65 | €2k | €1k | €392 | €493 | €400 | ▼ 18.8% |
| Profit (loss) for the period before taxes9903 | €77k | €65k | €44k | €45k | €29k | ▼ 36.5% |
| Income taxes67/77 | €23k | €21k | €12k | €13k | €8k | ▼ 36.8% |
| Profit (loss) for the period9904 | €55k | €44k | €32k | €32k | €20k | ▼ 36.4% |
| Transfer from tax-exempt reserves789 | €19k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €73k | €44k | €32k | €32k | €20k | ▼ 36.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €367k | €398k | €355k | €344k | €364k | ▲ 5.8% |
| Fixed assets21/28 | €35k | €115k | €90k | €97k | €64k | ▼ 34.2% |
| Tangible fixed assets22/27 | €34k | €115k | €90k | €96k | €63k | ▼ 34.3% |
| Land and buildings22 | €15k | €13k | €12k | €14k | €11k | ▼ 18.2% |
| Plant, machinery and equipment23 | €6k | €4k | €3k | €3k | €1k | ▼ 59.4% |
| Furniture and vehicles24 | €13k | €98k | €74k | €79k | €51k | ▼ 36.1% |
| Financial fixed assets28 | €345 | €210 | €210 | €210 | €210 | = |
| Current assets29/58 | €333k | €283k | €265k | €247k | €300k | ▲ 21.4% |
| Amounts receivable within one year40/41 | €38k | €43k | €41k | €62k | €36k | ▼ 41.5% |
| Trade receivables40 | €38k | €28k | €36k | €54k | €35k | ▼ 35.6% |
| Other amounts receivable41 | - | €15k | €4k | €9k | €2k | ▼ 78.2% |
| Cash at bank and in hand54/58 | €285k | €233k | €223k | €176k | €262k | ▲ 48.4% |
| Deferred charges and accrued income490/1 | €9k | €7k | €2k | €9k | €2k | ▼ 75.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €367k | €398k | €355k | €344k | €364k | ▲ 5.8% |
| Equity10/15 | €285k | €328k | €306k | €293k | €314k | ▲ 7.0% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €274k | €316k | €294k | €281k | €301k | ▲ 7.3% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €272k | €314k | €294k | €281k | €301k | ▲ 7.3% |
| Profit (loss) carried forward14 | €-1k | - | - | - | - | - |
| Amounts payable17/49 | €83k | €69k | €49k | €51k | €50k | ▼ 1.3% |
| Amounts payable within one year42/48 | €82k | €69k | €48k | €49k | €49k | ▼ 1.1% |
| Financial debts43 | €4k | €4k | €4k | €4k | €3k | ▼ 33.4% |
| Credit institutions430/8 | €4k | €4k | €4k | €4k | €3k | ▼ 33.4% |
| Trade debts44 | €17k | €21k | €9k | €11k | €4k | ▼ 58.5% |
| Suppliers440/4 | €17k | €21k | €9k | €11k | €4k | ▼ 58.5% |
| Taxes, remuneration and social security45 | €21k | €8k | €3k | €2k | €6k | ▲ 239% |
| Taxes450/3 | €19k | €6k | €2k | - | €4k | - |
| Remuneration and social security454/9 | €2k | €2k | €2k | €2k | €2k | = |
| Other amounts payable47/48 | €41k | €37k | €31k | €33k | €36k | ▲ 7.8% |
| Accrued charges and deferred income492/3 | €266 | €252 | €1k | €1k | €1k | ▼ 9.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55k | €44k | €32k | €32k | €20k | ▼ 36.4% |
| + Depreciation and write-downs630 | €10k | €13k | €27k | €26k | €33k | ▲ 25.5% |
| Operating cash flow (approximation) | €65k | €56k | €59k | €58k | €53k | ▼ 8.8% |
| Investment in fixed assets (approximation) | - | €-93k | €-2k | €-33k | €577 | ▲ 102% |
| Change in cash | - | €-53k | €-10k | €-47k | €85k | ▲ 283% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €20k ▼36.4%
Net result drops to €20k, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 59 days late
2020
31-12
Financial
Highest result since 2018net €68k ▲111%
Operating result €95k, net result €68k, both a record.
31-12
Financial
Equity above €200kEq €231k ▲41.7%
3 profitable years in a row build equity to €231k.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
31-12
Financial
Equity above €150kEq €163k ▲24.7%
2 profitable years in a row build equity to €163k.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2011
Ground area
1,295 m²
Building footprint
562 m²
Volume, LiDAR
2,606 m³
Parcel 34026A0309/00Z000, Flanders · tallest building 11.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
WST
since 20112.204.158.021
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026A0309/00Z000 | Flanders | 1,295 m² | 1 · 562 m² | 11.4 m · 2 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.
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M-TRUCKING
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BEIRNAERT BRENT
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BELIF
BE 0540.774.010
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,199. 5,804 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
47811Retail sale of cars and light vans (up to 3.5 tonnes)
Scores and ratios are computed by Checked and are not a credit decision.