XPOWER
ActiveSummary
XPOWER has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €4.7m and a net result of €842,411. Equity is growing by ~45.3% per year across the filed fiscal years. Its solvency ranks better than 66% of 2833 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability87▼-3
Solvency84▲+7
Growth77▼-1
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.67 against 1.8 in 2023; short-term debt: 35% and cash: 3.2% of total assets), and 41.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
58.8%
Return on assets
10.7%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-03-2026, 231 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
231 d late
2023
69 d late
2022
74 d late
2021
80 d late
2020
83 d late
2019
124 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 110 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#6 employer in Merelbeke-Melle, Telecoms and IT sector#6 company by equity in Merelbeke-Melle, Telecoms and IT sector#7 company by total assets in Merelbeke-Melle, Telecoms and IT sector
Turnover
€9.6m▲ 12.3%
2023 · €8.5m
EBIT margin
11.2%▼ 1.1pp
2023 · 12.4%
Net result
€842,411▼ 11.0%
2023 · €946,493
Working capital
€1.9m▼ 18.2%
2023 · €2.3m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€6.7m€7.3m▲ 10.1%€8.5m▲ 16.6%€9.6m▲ 12.3%
Operating result€851,126▲ 671%€914,907▲ 7.5%€1.0m▲ 10.8%€1.1m▲ 4.2%€1.1m▲ 2.0%
Net result€779,602above the sector's middle half▲ 1,787%€867,471above the sector's middle half▲ 11.3%€948,311above the sector's middle half▲ 9.3%€946,493above the sector's middle half▼ 0.2%€842,411above the sector's middle half▼ 11.0%
EBIT margin13.7%13.8%▲ 0.1pp12.4%▼ 1.5pp11.2%▼ 1.1pp
Equity€1.0mabove the sector's middle half▲ 292%€1.9mabove the sector's middle half▲ 82.9%€2.9mabove the sector's middle half▲ 49.6%€3.8mabove the sector's middle half▲ 33.1%€4.7mabove the sector's middle half▲ 22.1%
Total assets€3.7mabove the sector's middle half▲ 5.8%€4.2mabove the sector's middle half▲ 14.8%€5.7mabove the sector's middle half▲ 35.3%€7.3mabove the sector's middle half▲ 28.1%€7.9mabove the sector's middle half▲ 8.0%
Debt€2.6m▼ 18.0%€2.3m▼ 12.3%€2.9m▲ 23.4%€3.5m▲ 23.1%€3.3m▼ 7.2%
Working capital€97,306€488,886▲ 402%€1.8m▲ 271%€2.3m▲ 25.8%€1.9m▼ 18.2%
Solvency28.4%within the sector's middle half▲ 20.8pp45.3%within the sector's middle half▲ 16.9pp50.1%within the sector's middle half▲ 4.8pp52.0%within the sector's middle half▲ 1.9pp58.8%within the sector's middle half▲ 6.8pp
Staff (FTE)32.9above the sector's middle half▲ 9.3%36.7above the sector's middle half▲ 11.6%38.5above the sector's middle half▲ 4.9%41.7above the sector's middle half▲ 8.3%44.8above the sector's middle half▲ 7.4%
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 2% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.9m
Fixed assets
€3.3m ▲ 50.6%
Current assets
€4.6m ▼ 10.0%
Equity and liabilities €7.9m
Equity
€4.7m ▲ 22.1%
Debt
€3.3m ▼ 7.2%
Debt's share of the balance-sheet total falls from 48.0% to 41.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.9m▲
2023 · €1.8m
Cash flow
€1.6m▼
2023 · €1.7m
Current ratio
1.67▼
2023 · 1.80
Quick ratio
1.66▼
2023 · 1.77
Debt to equity
0.70▼
2023 · 0.92
ROE
18.1%▼
2023 · 24.9%
ROA
10.7%▼
2023 · 12.9%
Interest coverage
7.88▼
2023 · 15.97
Debt ≤ 1 year
€2.8m▼
2023 · €2.9m
Debt > 1 year
€46,667▼
2023 · €86,667
Staff costs
€3.7m▲
2023 · €3.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,082 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €6.7m | €7.3m | €8.5m | €9.6m | ▲ 12.3% |
| Goods, raw materials, services and sundry goods60/61 | - | €3.3m | €3.7m | €4.2m | €4.9m | ▲ 15.3% |
| Remuneration, social security and pensions62 | - | €2.7m | €3.0m | €3.5m | €3.7m | ▲ 7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €507,650 | €580,384 | €616,106 | €712,788 | €799,288 | ▲ 12.1% |
| Other operating charges640/8 | - | €132,220 | €108,718 | €266,663 | €278,464 | ▲ 4.4% |
| Gross operating margin9900 | €3.6m | €4.3m | €4.7m | €5.5m | €5.9m | ▲ 7.0% |
| Operating profit (loss)9901 | €851,126 | €914,907 | €1.0m | €1.1m | €1.1m | ▲ 2.0% |
| Financial income75/76B | - | €7,294 | €2,645 | €749 | €3,359 | ▲ 348% |
| Recurring financial income75 | €952 | €7,294 | €2,645 | €749 | €3,359 | ▲ 348% |
| Financial charges65/66B | - | €54,731 | €57,149 | €110,774 | €238,264 | ▲ 115% |
| Recurring financial charges65 | €75,645 | €54,731 | €57,149 | €110,774 | €238,264 | ▲ 115% |
| Profit (loss) for the period before taxes9903 | €779,602 | €867,471 | €959,193 | €946,493 | €842,411 | ▼ 11.0% |
| Income taxes67/77 | €0 | - | €10,882 | - | - | - |
| Profit (loss) for the period9904 | €779,602 | €867,471 | €948,311 | €946,493 | €842,411 | ▼ 11.0% |
| Profit (loss) for the period to be appropriated9905 | €779,602 | €867,471 | €948,311 | €946,493 | €842,411 | ▼ 11.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.7m | €4.2m | €5.7m | €7.3m | €7.9m | ▲ 8.0% |
| Fixed assets21/28 | €1.1m | €1.5m | €1.8m | €2.2m | €3.3m | ▲ 50.6% |
| Intangible fixed assets21 | €1.0m | €1.4m | €1.7m | €2.1m | €2.1m | ▲ 3.2% |
| Tangible fixed assets22/27 | €51,308 | €57,484 | €116,609 | €102,627 | €56,308 | ▼ 45.1% |
| Plant, machinery and equipment23 | - | €8,284 | €5,100 | €5,100 | €5,100 | = |
| Furniture and vehicles24 | - | €49,200 | €111,509 | €97,527 | €51,208 | ▼ 47.5% |
| Financial fixed assets28 | €15,135 | €15,135 | €15,135 | €15,135 | €1.1m | ▲ 7,153% |
| Current assets29/58 | €2.6m | €2.8m | €3.9m | €5.1m | €4.6m | ▼ 10.0% |
| Stocks and contracts in progress3 | €38,913 | €43,827 | €51,787 | €64,685 | €32,896 | ▼ 49.1% |
| Stocks30/36 | - | €43,827 | €51,787 | €64,685 | €32,896 | ▼ 49.1% |
| Amounts receivable within one year40/41 | €2.3m | €2.5m | €3.4m | €4.8m | €4.1m | ▼ 14.3% |
| Trade receivables40 | - | €1.4m | €1.6m | €1.8m | €2.2m | ▲ 23.6% |
| Other amounts receivable41 | - | €1.1m | €1.8m | €3.0m | €1.8m | ▼ 37.5% |
| Cash at bank and in hand54/58 | €115,242 | €137,017 | €333,225 | €265,478 | €250,541 | ▼ 5.6% |
| Deferred charges and accrued income490/1 | - | €72,375 | €42,376 | €49,094 | €262,041 | ▲ 434% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.7m | €4.2m | €5.7m | €7.3m | €7.9m | ▲ 8.0% |
| Equity10/15 | €1.0m | €1.9m | €2.9m | €3.8m | €4.7m | ▲ 22.1% |
| Contributions10/11 | €80,000 | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Capital10 | - | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Issued capital100 | - | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Reserves13 | €966,234 | €1.8m | €2.8m | €3.7m | €4.6m | ▲ 22.6% |
| Non-distributable reserves130/1 | - | €10,674 | €10,674 | €10,674 | €8,000 | ▼ 25.0% |
| Legal reserve130 | - | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Own shares acquired1312 | - | €2,674 | €2,674 | €2,674 | - | - |
| Distributable reserves133 | - | €1.8m | €2.8m | €3.7m | €4.6m | ▲ 22.7% |
| Amounts payable17/49 | €2.6m | €2.3m | €2.9m | €3.5m | €3.3m | ▼ 7.2% |
| Amounts payable after more than one year17 | €141,893 | €12,854 | €126,667 | €86,667 | €46,667 | ▼ 46.2% |
| Financial debts170/4 | - | €12,854 | €126,667 | €86,667 | €46,667 | ▼ 46.2% |
| Amounts payable within one year42/48 | €2.5m | €2.3m | €2.1m | €2.9m | €2.8m | ▼ 3.4% |
| Current portion of amounts payable after more than one year42 | - | €843,207 | €780,569 | €788,607 | €40,000 | ▼ 94.9% |
| Financial debts43 | - | - | - | - | €912,721 | - |
| Credit institutions430/8 | - | - | - | - | €912,721 | - |
| Trade debts44 | €841,878 | €808,137 | €843,631 | €1.1m | €820,956 | ▼ 25.2% |
| Suppliers440/4 | - | €808,137 | €843,631 | €1.1m | €820,956 | ▼ 25.2% |
| Taxes, remuneration and social security45 | - | €615,837 | €422,439 | €778,668 | €838,074 | ▲ 7.6% |
| Taxes450/3 | - | €332,468 | €128,900 | €427,204 | €304,325 | ▼ 28.8% |
| Remuneration and social security454/9 | - | €283,369 | €293,540 | €351,463 | €533,749 | ▲ 51.9% |
| Other amounts payable47/48 | - | €6,721 | €7,028 | €200,000 | €155,000 | ▼ 22.5% |
| Accrued charges and deferred income492/3 | - | €24,458 | €671,872 | €560,436 | €444,133 | ▼ 20.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €779,602 | €867,471 | €948,311 | €946,493 | €842,411 | ▼ 11.0% |
| + Depreciation and write-downs630 | €507,650 | €580,384 | €616,106 | €712,788 | €799,288 | ▲ 12.1% |
| Operating cash flow (approximation) | €1.3m | €1.4m | €1.6m | €1.7m | €1.6m | ▼ 1.1% |
| Investment in fixed assets (approximation) | - | -€926,612 | -€1.0m | -€1.0m | -€1.9m | ▼ 82.6% |
| Change in cash | - | €21,776 | €196,208 | -€67,747 | -€14,937 | ▲ 78.0% |
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
2026
19-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 231 days late
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 69 days late
2023
13-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 74 days late
2022
31-12
Financial
Highest result since 2018net €948,311 ▲9.3%
Net result €948,311, the highest in the series.
31-12
Financial
Equity above €2mEq €2.9m ▲49.6%
5 profitable years in a row build equity to €2.9m.
19-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 80 days late
2021
22-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 83 days late
2020
31-12
Financial
Equity above €1mEq €1.0m ▲292%
3 profitable years in a row build equity to €1.0m.
02-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 124 days late
2019
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 63 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 58 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Merelbeke-Melle · 1 establishment unit since 1994
Ground area
388 m²
Building footprint
168 m²
Volume, LiDAR
805 m³
Parcel 44402B0160/02A002, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
XPOWER NV
since 19942.065.077.342
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44402B0160/02A002 | Flanders | 388 m² | 1 · 168 m² | 9.3 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.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- IMMO - HOET
- CROWN ENTERPRISES
- XPOWER
Highest known parent: IMMO - HOET. The sources do not say who stands above it.
Owners 1
- CROWN ENTERPRISESparent100%
Holdings 1
-
80%
According to the 2024 annual accounts of XPOWER and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 9,973 EUR awarded · 9,973 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 4,847 EUR | 4,847 EUR |
| 2024 | 1 | 3,673 EUR | 3,673 EUR |
| 2023 | 1 | 44 EUR | 44 EUR |
| 2022 | 1 | 1,409 EUR | 1,409 EUR |
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Of 16,911 companies in sector 62100 we hold annual accounts for 8,778. 1,399 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-12-1993
Fiscal year end31-12
Activities, NACEBEL 2025
46500Wholesale of information and communication equipment
62100Computer programming
Contact
Phone
09/353.90.20
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451526090
Also
9925:BE0451526090
Registered
13-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.