WT SYSTEMS
ActiveSummary
WT SYSTEMS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234k and a net result of €-141k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 47% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency66▼-27
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days only on tighter terms
Liquidity ample (current ratio 1.7 against 2.71 in 2024; short-term debt: 56.1% and cash: 0.1% of total assets), but 59% 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
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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← 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
1819202122232425
2018 to 2025 · latest year €-141k
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
6 d early
2023
1 d early
2022
39 d early
2021
48 d early
2020
25 d late
2019
12 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, abbreviated schema
Equity
€234k▼ 37.5%
2024 · €375k
2018: €140klowest in 8 years
2019: €272k▲ +95.2% vs 2018
2020: €501k▲ +83.9% vs 2019
2021: €680k▲ +35.8% vs 2020
2022: €777k▲ +14.4% vs 2021highest in 8 years
2023: €621k▼ -20.1% vs 2022
2024: €375k▼ -39.6% vs 2023
2025: €234k▼ -37.5% vs 2024
2018 → 2025
Total assets
€572k▲ 3.3%
2024 · €554k
2018: €938k
2019: €986k▲ +5.1% vs 2018
2020: €1.06M▲ +7.2% vs 2019
2021: €1.09M▲ +3.2% vs 2020highest in 8 years
2022: €933k▼ -14.5% vs 2021
2023: €790k▼ -15.4% vs 2022
2024: €554k▼ -29.9% vs 2023lowest in 8 years
2025: €572k▲ +3.3% vs 2024
2018 → 2025
Net result
€-141k▲ 42.9%
2024 · €-246k
2018: €59k
2019: €186k▲ +213% vs 2018
2020: €288k▲ +54.8% vs 2019highest in 8 years
2021: €208k▼ -28.0% vs 2020
2022: €98k▼ -53.0% vs 2021
2023: €-156k▼ -260% vs 2022
2024: €-246k▼ -57.9% vs 2023lowest in 8 years
2025: €-141k▲ +42.9% vs 2024
2018 → 2025
Working capital
€223k▼ 26.9%
2024 · €305k
2018: €-33klowest in 8 years
2019: €83k▲ +348% vs 2018
2020: €280k▲ +237% vs 2019
2021: €435k▲ +55.4% vs 2020
2022: €703k▲ +61.7% vs 2021highest in 8 years
2023: €553k▼ -21.2% vs 2022
2024: €305k▼ -44.9% vs 2023
2025: €223k▼ -26.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€680k-€777k▲ 14.4%€621k▼ 20.1%€375k▼ 39.6%€234k▼ 37.5%
2021: €680k
2022: €777k▲ +14.4% vs 2021highest in 5 years
2023: €621k▼ -20.1% vs 2022
2024: €375k▼ -39.6% vs 2023
2025: €234k▼ -37.5% vs 2024lowest in 5 years
Operating result€136k-€137k▲ 0.8%€-148k€-244k▼ 64.5%€-134k▲ 45.0%
2021: €136k
2022: €137k▲ +0.8% vs 2021highest in 5 years
2023: €-148k▼ -208% vs 2022
2024: €-244k▼ -64.5% vs 2023lowest in 5 years
2025: €-134k▲ +45.0% vs 2024
Net result€208k-€98k▼ 53.0%€-156k€-246k▼ 57.9%€-141k▲ 42.9%
2021: €208khighest in 5 years
2022: €98k▼ -53.0% vs 2021
2023: €-156k▼ -260% vs 2022
2024: €-246k▼ -57.9% vs 2023lowest in 5 years
2025: €-141k▲ +42.9% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €134k in 2025 against €244k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €572k
Fixed assets
€28k ▼ 59.9%
Current assets
€544k ▲ 12.4%
Equity and liabilities €572k
Equity
€234k ▼ 37.5%
Debt
€337k ▲ 89.0%
Debt's share of the balance-sheet total rises from 32.2% to 59.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-91k▲
2024 · €-226k
Cash flow
€-97k▲
2024 · €-228k
Current ratio
1.70▼
2024 · 2.71
Quick ratio
1.51▼
2024 · 2.33
Debt to equity
1.44▲
2024 · 0.48
ROE
-60.0%▲
2024 · -65.7%
ROA
-24.6%▲
2024 · -44.5%
Interest coverage
-7.73▲
2024 · -12.96
Debt ≤ 1 year
€321k▲
2024 · €178k
Income taxes
€324▼
2024 · €340
Staff costs
€154k▼
2024 · €163k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€554k€572k▲
Fixed assets21/28€70k€28k▼
Intangible fixed assets21€432€33▼
Tangible fixed assets22/27€65k€23k▼
Plant, machinery and equipment23€704€689▼
Furniture and vehicles24€25k€19k▼
Other tangible fixed assets26€39k€4k▼
Financial fixed assets28€5k€5k=
Current assets29/58€484k€544k▲
Stocks and contracts in progress3€69k€58k▼
Stocks30/36€69k€58k▼
Amounts receivable within one year40/41€414k€484k▲
Trade receivables40€104k€299k▲
Other amounts receivable41€311k€185k▼
Cash at bank and in hand54/58€292€330▲
Deferred charges and accrued income490/1€574€1k▲
Equity and liabilities
Total equity and liabilities10/49€554k€572k▲
Equity10/15€375k€234k▼
Contributions10/11€6k€6k=
Reserves13€771k€771k=
Distributable reserves133€771k€771k=
Profit (loss) carried forward14€-402k€-543k▼
Amounts payable17/49€178k€337k▲
Amounts payable within one year42/48€178k€321k▲
Current portion of amounts payable after more than one year42€0-
Trade debts44€151k€309k▲
Suppliers440/4€151k€309k▲
Taxes, remuneration and social security45€28k€12k▼
Taxes450/3€5k€2k▼
Remuneration and social security454/9€22k€9k▼
Accrued charges and deferred income492/3-€17k
Income statement
Code20242025
Non-recurring operating income76A€5k€20k▲
Remuneration, social security and pensions62€163k€154k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€44k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€3k€419▼
Non-recurring operating charges66A€2k€0▼
Gross operating margin9900€-57k€64k▲
Operating profit (loss)9901€-244k€-134k▲
Financial income75/76B€16k€6k▼
Recurring financial income75€16k€6k▼
Financial charges65/66B€17k€12k▼
Recurring financial charges65€17k€12k▼
Profit (loss) for the period before taxes9903€-246k€-140k▲
Income taxes67/77€340€324▼
Profit (loss) for the period9904€-246k€-141k▲
Profit (loss) for the period to be appropriated9905€-246k€-141k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-402k€-543k▼
Profit (loss) brought forward from the previous period14P€-156k€-402k▼
Social balance
Average headcount (FTE)90872.22.2=
The notes to these accounts (19 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 | - | - | - | €5k | €20k | ▲ 294% |
| Remuneration, social security and pensions62 | €204k | €142k | €141k | €163k | €154k | ▼ 5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €66k | €43k | €19k | €18k | €44k | ▲ 140% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-4k | - | €10k | €0 | - | - |
| Other operating charges640/8 | €11k | €7k | €3k | €3k | €419 | ▼ 86.4% |
| Non-recurring operating charges66A | - | - | - | €2k | €0 | ▼ 100% |
| Gross operating margin9900 | €413k | €330k | €25k | €-57k | €64k | ▲ 212% |
| Operating profit (loss)9901 | €136k | €137k | €-148k | €-244k | €-134k | ▲ 45.0% |
| Financial income75/76B | €129k | €15k | €7k | €16k | €6k | ▼ 63.7% |
| Recurring financial income75 | €129k | €15k | €7k | €16k | €6k | ▼ 63.7% |
| Financial charges65/66B | €26k | €18k | €15k | €17k | €12k | ▼ 32.8% |
| Recurring financial charges65 | €26k | €18k | €15k | €17k | €12k | ▼ 32.8% |
| Profit (loss) for the period before taxes9903 | €240k | €134k | €-156k | €-246k | €-140k | ▲ 43.0% |
| Income taxes67/77 | €32k | €37k | €353 | €340 | €324 | ▼ 4.9% |
| Profit (loss) for the period9904 | €208k | €98k | €-156k | €-246k | €-141k | ▲ 42.9% |
| Profit (loss) for the period to be appropriated9905 | €208k | €98k | €-156k | €-246k | €-141k | ▲ 42.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.09M | €933k | €790k | €554k | €572k | ▲ 3.3% |
| Fixed assets21/28 | €396k | €84k | €68k | €70k | €28k | ▼ 59.9% |
| Intangible fixed assets21 | - | - | €831 | €432 | €33 | ▼ 92.3% |
| Tangible fixed assets22/27 | €392k | €79k | €62k | €65k | €23k | ▼ 64.2% |
| Land and buildings22 | €300k | - | - | - | - | - |
| Plant, machinery and equipment23 | €4k | €2k | €2k | €704 | €689 | ▼ 2.1% |
| Furniture and vehicles24 | €48k | €28k | €19k | €25k | €19k | ▼ 24.2% |
| Other tangible fixed assets26 | €40k | €48k | €42k | €39k | €4k | ▼ 90.3% |
| Financial fixed assets28 | €5k | €5k | €5k | €5k | €5k | = |
| Current assets29/58 | €694k | €849k | €721k | €484k | €544k | ▲ 12.4% |
| Stocks and contracts in progress3 | €134k | €174k | €96k | €69k | €58k | ▼ 15.3% |
| Stocks30/36 | €134k | €174k | €96k | €69k | €58k | ▼ 15.3% |
| Amounts receivable within one year40/41 | €339k | €245k | €619k | €414k | €484k | ▲ 16.9% |
| Trade receivables40 | €323k | €231k | €164k | €104k | €299k | ▲ 189% |
| Other amounts receivable41 | €16k | €14k | €455k | €311k | €185k | ▼ 40.4% |
| Cash at bank and in hand54/58 | €185k | €405k | €3k | €292 | €330 | ▲ 13.1% |
| Deferred charges and accrued income490/1 | €37k | €25k | €4k | €574 | €1k | ▲ 80.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.09M | €933k | €790k | €554k | €572k | ▲ 3.3% |
| Equity10/15 | €680k | €777k | €621k | €375k | €234k | ▼ 37.5% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €674k | €771k | €771k | €771k | €771k | = |
| Non-distributable reserves130/1 | €2k | - | - | - | - | - |
| Reserves not available under the articles1311 | €2k | - | - | - | - | - |
| Distributable reserves133 | €672k | €771k | €771k | €771k | €771k | = |
| Profit (loss) carried forward14 | - | - | €-156k | €-402k | €-543k | ▼ 35.0% |
| Amounts payable17/49 | €411k | €155k | €168k | €178k | €337k | ▲ 89.0% |
| Amounts payable after more than one year17 | €139k | €3k | €0 | - | - | - |
| Financial debts170/4 | €139k | €3k | €0 | - | - | - |
| Other amounts payable178/9 | €600 | - | - | - | - | - |
| Amounts payable within one year42/48 | €260k | €146k | €168k | €178k | €321k | ▲ 79.6% |
| Current portion of amounts payable after more than one year42 | €56k | €5k | €3k | €0 | - | - |
| Financial debts43 | €106k | €2k | €0 | - | - | - |
| Credit institutions430/8 | €106k | €2k | €0 | - | - | - |
| Trade debts44 | €33k | €124k | €130k | €151k | €309k | ▲ 105% |
| Suppliers440/4 | €33k | €124k | €130k | €151k | €309k | ▲ 105% |
| Taxes, remuneration and social security45 | €49k | €15k | €35k | €28k | €12k | ▼ 58.3% |
| Taxes450/3 | €26k | - | €5k | €5k | €2k | ▼ 60.8% |
| Remuneration and social security454/9 | €22k | €15k | €30k | €22k | €9k | ▼ 57.7% |
| Other amounts payable47/48 | €15k | €191 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €12k | €7k | €0 | - | €17k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €208k | €98k | €-156k | €-246k | €-141k | ▲ 42.9% |
| + Depreciation and write-downs630 | €66k | €43k | €19k | €18k | €44k | ▲ 140% |
| Operating cash flow (approximation) | €274k | €141k | €-137k | €-228k | €-97k | ▲ 57.5% |
| Investment in fixed assets (approximation) | - | €269k | €-3k | €-20k | €-2k | ▲ 91.6% |
| Change in cash | - | €220k | €-402k | €-3k | €38 | ▲ 101% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-246k
Net result drops to €-246k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity doublescurrent ratio 5.80
Current ratio from 2.67 to 5.80; short-term debt falls from €260k to €146k.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
2020
31-12
Financial
Highest result since 2018net €288k ▲54.8%
Operating result €254k, net result €288k, both a record.
31-12
Financial
Equity above €500kEq €501k ▲83.9%
3 profitable years in a row build equity to €501k.
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 12 days late
2019
31-12
Financial
Equity above €200kEq €272k ▲95.2%
2 profitable years in a row build equity to €272k.
Show earlier events
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 14 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 13 days late
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Oudenaarde · 1 establishment unit since 2001
Ground area
1.6 ha
Building footprint
1.7 ha
Volume, LiDAR
153,402 m³
2 parcels, Flanders · tallest building 25.8 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
GH SYSTEMS
since 20012.093.146.073
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45508A0120/00A012 | Flanders | 1.6 ha | 1 · 1.6 ha | 25.8 m · 3 fl. |
| 45508A0120/00N006 | Flanders | 226 m² | 1 · 727 m² | 8.9 m |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,565 companies in sector 46900 we hold annual accounts for 920. 672 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
Founded02-04-2001
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
46900Non-specialised wholesale trade
43990Other specialised construction activities
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
Scores and ratios are computed by Checked and are not a credit decision.