BELGO WATER SERVICES
ActiveSummary
The computed 12-month bankruptcy probability of BELGO WATER SERVICES is 2.1% (moderate). The 2025 annual accounts show equity of €41k and a net result of €46k. Equity is growing by ~12.6% per year across the filed fiscal years. Its solvency ranks better than 49% of 27786 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+3
Solvency71▲+7
Growth78=
Track record94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 1.71 against 1.61 in 2024; short-term debt: 54.1% and cash: 51.5% of total assets), but 54.1% of the assets are financed with debt.
Credit advice 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
45.9%
Return on assets
51.6%
Age of the figures
9 mo
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 30-06-2026, 31 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
31 d early
2024
28 d early
2023
40 d early
2022
67 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€41k▲ 4.6%
2024 · €40k
2022: €17k
2023: €40k
2024: €40k
2022 → 2025
Total assets
€90k▼ 11.4%
2024 · €102k
2022: €47k
2023: €84k
2024: €102k
2022 → 2025
Net result
€46k▲ 102%
2024 · €23k
2022: €22k
2023: €33k
2024: €23k
2022 → 2025
Working capital
€35k▼ 8.2%
2024 · €38k
2022: €16k
2023: €33k
2024: €38k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€17k-€40k▲ 138%€40k▼ 1.4%€41k▲ 4.6%
Operating result€25k-€39k▲ 57.8%€29k▼ 26.5%€55k▲ 90.6%
Net result€22k-€33k▲ 51.9%€23k▼ 30.9%€46k▲ 102%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 91% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €90k
Fixed assets
€6k ▲ 418%
Current assets
€84k ▼ 16.5%
Equity and liabilities €90k
Equity
€41k ▲ 4.6%
Debt
€49k ▼ 21.5%
Debt's share of the balance-sheet total falls from 61.1% to 54.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€56k▲
2024 · €34k
Cash flow
€47k▲
2024 · €28k
Current ratio
1.71▲
2024 · 1.61
Debt to equity
1.18▼
2024 · 1.57
ROE
112.2%▲
2024 · 58.0%
ROA
51.6%▲
2024 · 22.6%
Interest coverage
264.83▲
2024 · 66.39
Debt ≤ 1 year
€49k▼
2024 · €62k
Income taxes
€8k▲
2024 · €6k
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€102k€90k▼
Formation expenses20€442€225▼
Fixed assets21/28€1k€6k▲
Tangible fixed assets22/27€1k€6k▲
Plant, machinery and equipment23-€2k
Furniture and vehicles24€1k€5k▲
Current assets29/58€100k€84k▼
Amounts receivable within one year40/41€60k€36k▼
Trade receivables40€40k€33k▼
Other amounts receivable41€20k€4k▼
Cash at bank and in hand54/58€40k€46k▲
Deferred charges and accrued income490/1€610€667▲
Equity and liabilities
Total equity and liabilities10/49€102k€90k▼
Equity10/15€40k€41k▲
Contributions10/11€5k€5k=
Profit (loss) carried forward14€35k€36k▲
Amounts payable17/49€62k€49k▼
Amounts payable within one year42/48€62k€49k▼
Trade debts44€27k€5k▼
Suppliers440/4€27k€5k▼
Taxes, remuneration and social security45€12k€13k▲
Taxes450/3€12k€9k▼
Remuneration and social security454/9-€4k
Other amounts payable47/48€24k€31k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€932▼
Other operating charges640/8€617€2k▲
Gross operating margin9900€35k€58k▲
Operating profit (loss)9901€29k€55k▲
Financial income75/76B€549€67▼
Recurring financial income75€549€67▼
Financial charges65/66B€512€211▼
Recurring financial charges65€512€211▼
Profit (loss) for the period before taxes9903€29k€55k▲
Income taxes67/77€6k€8k▲
Profit (loss) for the period9904€23k€46k▲
Profit (loss) for the period to be appropriated9905€23k€46k▲
Appropriation of the result
Profit (loss) to be appropriated9906€58k€81k▲
Profit (loss) brought forward from the previous period14P€35k€35k▼
Profit to be distributed694/7€24k€45k▲
Return on contributions (dividend)694€24k€30k▲
Directors or managers695-€15k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €46k ▲102%
Operating result €55k, net result €46k, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Dilbeek · 1 establishment unit since 2022
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Pastoor Cooremansstraat 31702 DilbeekGround area
4,983 m²
Building footprint
2,317 m²
Parcel 23026A0132/00G006, Flanders. Linked by address, not a title deed.
1 establishment unit
BELGO WATER SERVICES
since 20222.326.863.813
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23026A0132/00G006 | Flanders | 4,983 m² | 1 · 2,316 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Mattech Service
BE 0735.494.085
Malle · Eq €41,423
ALGEMENE LOODGIETERIJ ROELANDT
BE 0472.181.944
Beveren-Kruibeke-Zwijndrecht · Eq €41,412
Sanimprove
BE 0659.716.202
Izegem · Eq €41,481
TECHNOWATER
BE 0727.466.346
Aalst · Eq €41,354
DEWA GROUP
BE 0835.455.555
Waregem · Eq €41,346
Of 7,041 companies in sector 43221 we hold annual accounts for 3,471. 2,903 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
81230Other cleaning activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.