WYCOTEC
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 68 days after the deadline Filed on 7 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00549599.
Annual accounts 2025 filed on 07-10-2026 at the NBB all 14 filings
Turnover
€6.2m▲ 48.0%
2020 · €4.2m
EBIT margin
0.6%▼ 10.3pp
2020 · 10.9%
Net result
€8,526▼ 93.6%
2024 · €132,449
Working capital
€814,049▲ 3.9%
2024 · €783,773
In the rankings
#7 employer in Ans, Construction sector#9 company by equity in Ans, Construction sector
Multi-year overview
2018 to 2025, 7 financial yearsTurnover
no figure
2025
20182025
Operating result
€25,405
▼ 84.8%
2025
20182025
Net result
€8,526
▼ 93.6%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€1.2m
▲ 27.4%
2025
middle half of the sector
20182025
Total assets
€2.4m
▼ 8.2%
2025
middle half of the sector
20182025
Debt
€1.2m
▼ 28.9%
2025
20182025
Working capital
€814,049
▲ 3.9%
2025
middle half of the sector
20182025
Solvency
51.0%
▲ 14.3pp
2025
middle half of the sector
20182025
Current ratio
2.06
▲ 0.29
2025
middle half of the sector
20182025
Return on assets (ROA)
0.4%
▼ 4.8pp
2025
middle half of the sector
20182025
Staff (FTE)
20.1
▼ 9.9%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202320242025
Turnover€7.5m-€8.3m▲ 10.9%€4.2m▼ 49.9%€6.2m▲ 48.0%
Operating result€1.2m-€2.4m▲ 102%€0.5m▼ 81.5%€0.04m▼ 91.7%€0.04m-€0.2m▲ 340%€0.03m▼ 84.8%
Net result€0.9m-€1.7m▲ 104%€0.3mabove the sector's middle half▼ 80.8%€0.04mwithin the sector's middle half▼ 87.7%€0.004mwithin the sector's middle half-€0.1mabove the sector's middle half▲ 34×€0.009mwithin the sector's middle half▼ 93.6%
EBIT margin16.2%-29.4%▲ 13.2pp10.9%▼ 18.5pp0.6%▼ 10.3pp
Equity€1.8m-€3.5m▲ 97.8%€1.4mabove the sector's middle half▼ 61.3%€1.4mabove the sector's middle half▲ 3.0%€0.8mabove the sector's middle half-€0.9mabove the sector's middle half▲ 16.3%€1.2mwithin the sector's middle half▲ 27.4%
Total assets€2.8m-€4.4m▲ 58.7%€4.1mabove the sector's middle half▼ 6.9%€3.1mabove the sector's middle half▼ 23.1%€2.9mabove the sector's middle half-€2.6mabove the sector's middle half▼ 12.5%€2.4mwithin the sector's middle half▼ 8.2%
Debt€1.0m-€0.9m▼ 10.9%€2.7m▲ 208%€1.7m▼ 36.1%€2.1m-€1.6m▼ 23.5%€1.2m▼ 28.9%
Working capital€1.6m-€3.4m▲ 110%€1.3mabove the sector's middle half▼ 62.6%€1.0mabove the sector's middle half▼ 21.9%€0.7mabove the sector's middle half-€0.8mabove the sector's middle half▲ 20.3%€0.8mwithin the sector's middle half▲ 3.9%
Solvency64.1%-79.8%▲ 15.8pp33.2%within the sector's middle half▼ 46.6pp44.5%within the sector's middle half▲ 11.3pp27.6%within the sector's middle half-36.7%within the sector's middle half▲ 9.1pp51.0%within the sector's middle half▲ 14.3pp
Current ratio2.78-4.79▲ 2.011.46within the sector's middle half▼ 3.331.69within the sector's middle half▲ 0.231.43within the sector's middle half-1.77within the sector's middle half▲ 0.332.06within the sector's middle half▲ 0.29
Return on assets (ROA)30.8%-39.5%▲ 8.7pp8.1%within the sector's middle half▼ 31.3pp1.3%within the sector's middle half▼ 6.8pp0.1%below the sector's middle half-5.2%within the sector's middle half▲ 5.0pp0.4%within the sector's middle half▼ 4.8pp
Staff (FTE)27.9-25.3▼ 9.3%25.3above the sector's middle half=28.3above the sector's middle half▲ 11.9%30.4above the sector's middle half-22.3above the sector's middle half▼ 26.6%20.1within the sector's middle half▼ 9.9%
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 85% lower than in 2024 and the lowest since 2020.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€774,371 ▲ 1.4%
Current assets
€1.6m ▼ 12.3%
Equity and liabilities €2.4m
Equity
€1.2m ▲ 27.4%
Debt
€1.2m ▼ 28.9%
Debt's share of the balance-sheet total falls from 63.3% to 49.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€106,814▼
2024 · €232,109
Cash flow
€89,935▼
2024 · €197,803
Quick ratio
1.26▲
2024 · 1.12
Debt to equity
0.96▼
2024 · 1.72
ROE
0.7%▼
2024 · 14.0%
Interest coverage
5.84▼
2024 · 6.65
Debt ≤ 1 year
€767,701▼
2024 · €1.0m
Debt > 1 year
€387,124▼
2024 · €604,947
Income taxes
€347▲
2024 · €84
Staff costs
€1.0m▼
2024 · €1.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 33 | 28 | 18 | 22 |
| full-time | 30 | 26 | 17 | 20 |
| part-time | 3 | 2 | 1 | 2 |
| in full-time equivalents | 31.6 | 26.9 | 17.1 | 21 |
| Average over the year, in full-time equivalents | 28.3 | 30.4 | 22.3 | 20.1 |
| On a permanent contract | 33 | 28 | 18 | 22 |
| Joined | 19 | 3 | 2 | 5 |
| Left | 11 | 9 | 12 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €661,316 | €13,069 | - | €39,537 |
| Intangible fixed assets | €28,214 | €38,400 | - | €51,772 |
| Financial fixed assets | €10,200 | - | €9,740 | - |
| Depreciation and write-downs of the year | €52,648 | €76,630 | €65,353 | €81,409 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €615 awarded · €533 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €7.5m | €8.3m | €4.2m | €6.2m | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €0.03m | €0.003m | ▼ 92.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €4.4m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.7m | €1.9m | €1.5m | €1.0m | ▼ 29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.08m | €0.05m | €0.08m | €0.07m | €0.08m | ▲ 24.6% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 28.8% |
| Gross operating margin9900 | - | - | - | €1.8m | €2.1m | €1.7m | €1.2m | ▼ 32.4% |
| Operating profit (loss)9901 | €1.2m | €2.4m | €0.5m | €0.04m | €0.04m | €0.2m | €0.03m | ▼ 84.8% |
| Financial income75/76B | - | - | - | €0.02m | €91 | €0.001m | €0.002m | ▲ 156% |
| Recurring financial income75 | €0.04m | €0.03m | €0.008m | €0.02m | €91 | €0.001m | €0.002m | ▲ 156% |
| Financial charges65/66B | - | - | - | €0.02m | €0.03m | €0.03m | €0.02m | ▼ 47.6% |
| Recurring financial charges65 | €0.009m | €0.009m | €0.002m | €0.02m | €0.03m | €0.03m | €0.02m | ▼ 47.6% |
| Debt charges650 | €0.008m | €0.004m | €0.002m | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €1.2m | €2.5m | €0.5m | €0.04m | €0.006m | €0.1m | €0.009m | ▼ 93.3% |
| Income taxes67/77 | €0.4m | €0.7m | €0.1m | -€153 | €0.002m | €84 | €347 | ▲ 315% |
| Profit (loss) for the period9904 | €0.9m | €1.7m | €0.3m | €0.04m | €0.004m | €0.1m | €0.009m | ▼ 93.6% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.5m | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.9m | €1.2m | €0.3m | €0.04m | €0.5m | €0.1m | €0.009m | ▼ 93.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.8m | €4.4m | €4.1m | €3.1m | €2.9m | €2.6m | €2.4m | ▼ 8.2% |
| Fixed assets21/28 | €0.3m | €0.1m | €0.1m | €0.7m | €0.8m | €0.8m | €0.8m | ▲ 1.4% |
| Intangible fixed assets21 | €0.02m | €0.007m | €333 | €0.03m | €0.1m | €0.1m | €0.1m | ▲ 24.6% |
| Tangible fixed assets22/27 | €0.2m | €0.1m | €0.08m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 3.3% |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 6.5% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.01m | €0.03m | €0.01m | ▼ 60.4% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.07m | €0.06m | €0.09m | ▲ 45.2% |
| Financial fixed assets28 | €0.008m | €0.01m | €0.02m | €0.03m | €0.06m | €0.07m | €0.07m | = |
| Current assets29/58 | €2.5m | €4.2m | €4.0m | €2.4m | €2.2m | €1.8m | €1.6m | ▼ 12.3% |
| Stocks and contracts in progress3 | €0.4m | €0.5m | €0.5m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 6.6% |
| Stocks30/36 | - | - | - | €0.6m | €0.5m | €0.4m | €0.4m | ▼ 4.3% |
| Contracts in progress37 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 11.1% |
| Amounts receivable within one year40/41 | €1.6m | €1.4m | €0.8m | €1.1m | €1.1m | €0.9m | €0.5m | ▼ 43.2% |
| Trade receivables40 | - | - | - | €0.9m | €1.0m | €0.8m | €0.5m | ▼ 38.4% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.05m | €0.08m | €0.007m | ▼ 90.9% |
| Current investments50/53 | - | €2.0m | €2.0m | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.4m | €0.3m | €0.6m | €0.4m | €0.08m | €0.3m | €0.4m | ▲ 70.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.008m | €0.2m | €0.01m | €0.03m | ▲ 152% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.8m | €4.4m | €4.1m | €3.1m | €2.9m | €2.6m | €2.4m | ▼ 8.2% |
| Equity10/15 | €1.8m | €3.5m | €1.4m | €1.4m | €0.8m | €0.9m | €1.2m | ▲ 27.4% |
| Contributions10/11 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €1.0m | ▲ 33.3% |
| Capital10 | - | - | - | €0.8m | €0.8m | €0.8m | €1.0m | ▲ 33.3% |
| Issued capital100 | - | - | - | €0.8m | €0.8m | €0.8m | €1.0m | ▲ 33.3% |
| Reserves13 | €1.0m | €2.8m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Non-distributable reserves130/1 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Legal reserve130 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Tax-exempt reserves132 | - | - | - | €0.5m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.04m | €0.6m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | - | - | - | - | -€0.6m | -€0.5m | -€0.4m | ▲ 1.9% |
| Amounts payable17/49 | €1.0m | €0.9m | €2.7m | €1.7m | €2.1m | €1.6m | €1.2m | ▼ 28.9% |
| Amounts payable after more than one year17 | €0.1m | - | - | €0.3m | €0.6m | €0.6m | €0.4m | ▼ 36.0% |
| Financial debts170/4 | - | - | - | €0.3m | €0.6m | €0.6m | €0.4m | ▼ 36.0% |
| Amounts payable within one year42/48 | €0.9m | €0.9m | €2.7m | €1.4m | €1.5m | €1.0m | €0.8m | ▼ 24.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.2m | €0.1m | €0.1m | ▼ 8.6% |
| Trade debts44 | €0.6m | €0.6m | €0.5m | €0.9m | €0.8m | €0.5m | €0.2m | ▼ 53.0% |
| Suppliers440/4 | - | - | - | €0.9m | €0.8m | €0.5m | €0.2m | ▼ 53.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.08m | €0.06m | ▼ 25.4% |
| Taxes450/3 | - | - | - | €0.1m | €0.02m | €0.01m | - | - |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.2m | €0.07m | €0.06m | ▼ 12.0% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 17.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.04m | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.9m | €1.7m | €0.3m | €0.04m | €0.004m | €0.1m | €0.009m | ▼ 93.6% |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.08m | €0.05m | €0.08m | €0.07m | €0.08m | ▲ 24.6% |
| Operating cash flow (approximation) | €1.0m | €1.9m | €0.4m | €0.09m | €0.08m | €0.2m | €0.09m | ▼ 54.5% |
| Investment in fixed assets (approximation) | - | -€0.006m | -€0.04m | -€0.7m | - | -€0.05m | -€0.09m | ▼ 90.5% |
| Change in cash | - | -€0.1m | €0.3m | -€0.2m | - | €0.2m | €0.2m | ▲ 5.2% |
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, 6,049 companies had the same profile as WYCOTEC has now. Two years later, 96.0% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
96.0%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
That fits the bankruptcy probability of WYCOTEC itself: 0.6% 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 6,049 companies, not a prediction for WYCOTEC. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 07-10-2026 | 2026-00549599 | |
| 31-12-2024 | full format | 12-09-2025 | 2025-00489984 | |
| 31-12-2023 | full format | 17-09-2024 | 2024-00463594 | |
| 31-12-2022 | full format | 01-09-2023 | 2023-00433059 | |
| 31-12-2021 | full format | 29-08-2022 | 2022-20336898 | |
| 31-12-2020 | full format | 20-04-2021 | 2021-10700271 | |
| 31-12-2019 | full format | 04-06-2020 | 2020-14900194 | |
| 31-12-2018 | full format | 12-06-2019 | 2019-17700293 | |
| 31-12-2017 | full format | 16-04-2018 | 2018-10000326 | |
| 31-12-2016 | full format | 18-04-2017 | 2017-09400129 |