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BWatt

Active
Place de Carnières(CAR) 30 ·7141 Morlanwelz, Belgium
KBO/BCE: BE 0765.682.069
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Age5 yrs
Board2
Real estate1 parcel · 321 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of BWatt is 3.9% (moderate). The 2023 annual accounts show negative equity (€-53k) and a net result of €-37k. Equity is shrinking by ~114% per year across the filed fiscal years. Its solvency ranks better than 15% of 2975 sector peers (fiscal year 2023). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
3.9% Moderate
0%0,5%1,5%4%10%≥25%
Annual accounts: weaker financial profile +Young company +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

1 signal · with evidence
Negative equity
Equity is negative for financial year 2023: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide
Annual accounts not filed
The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 375 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.
Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-09-2024, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
How we compute the deadline
The year end is derived from 3 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 30-09-2024 61 d late 2024-00482039
31-12-2022 31-07-2023 08-02-2024 192 d late 2024-00029314
31-12-2021 31-07-2022 30-09-2022 61 d late 2022-20448573

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
More than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No administrative flags

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-37k+55.1%
Working capital€67k+6.3%

Annual accounts & ratios

Source: NBB · 2023
Annual accounts filed on 30-09-2024 with the NBB · fiscal year 2023 · micro
€-100k€-75k€-50k€-25k€0Operating result 2021: €-24k€-24kNet result 2021: €-25k€-25kOperating result 2022: €-81k€-81kNet result 2022: €-82k€-82kOperating result 2023: €-36k€-36kNet result 2023: €-37k€-37k202120222023
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~114%/year over 3 fiscal years, indicative, assuming unchanged policy.
€-125k€-100k€-75k€-50k€-25k2024: €-73k (€-77k - €-68k)2025: €-92k (€-96k - €-87k)2026: €-111k (€-115k - €-106k)2021: €-15k2022: €-17k2023: €-53k202120222023202420252026
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2023 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)
Metric This company Sector median Position in the sector
Solvency -33.2% 25.2%
better than 15% of 2975 sector peers
Net result €-37k €4k
better than 9% of 2965 sector peers
Equity €-53k €20k
better than 8% of 2986 sector peers
Gross operating margin €-26k €18k
better than 6% of 2955 sector peers
Total assets €161k €102k
better than 63% of 2975 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
Solvency P15
2021: P18 · n=15172022: P19 · n=23642023: P15 · n=29752021 2023
Stable position over 2021-2023 · n=1517-2975
Net result P9
2021: P10 · n=15192022: P5 · n=23652023: P9 · n=29652021 2023
Stable position over 2021-2023 · n=1519-2965
Equity P8
2021: P15 · n=15222022: P14 · n=23712023: P8 · n=29862021 2023
Stable position over 2021-2023 · n=1522-2986
Gross operating margin P6
2021: P6 · n=15152022: P5 · n=23572023: P6 · n=29552021 2023
Stable position over 2021-2023 · n=1515-2955
Describes the position versus peers, not a forecast.
EBITDA
€-30k
+59.7% 21-23
Net profit
€-37k
+55.1% 21-23
Cash flow
€-30k
+59.8% 21-23
Total assets
€161k
-8.5% 21-23
Equity
€-53k
-218.6% 21-23
Working capital
€67k
+6.3% 21-23
Debt
€211k
+9.7% 21-23
Debt ≤ 1y
€60k
-34.3% 21-23
Debt > 1y
€150k
+50.0% 21-23
Current ratio
2.11
+25.2% 21-23
Quick ratio
1.53
+17.2% 21-23
Solvency
-33.2%
-248.3% 21-23
Debt / equity
-3.96
+65.6% 21-23
ROE
68.6%
-85.9% 21-23
ROA
-22.8%
+50.9% 21-23
Interest coverage
-117.12
-44.3% 21-23
Figures by fiscal year
Fiscal year2023
Depositmicro
Revenue-
EBITDA€-30k
Net profit€-37k
Cash flow€-30k
Staff costs-
Income taxes-
Dividends-
Total assets€161k
Equity€-53k
Debt€211k
of which ≤ 1y€60k
of which > 1y€150k
Working capital€67k
Employees (FTE)-
Ratios (computed)
2023
Current ratio2.11
Quick ratio1.53
Working capital ratio41.4%
Solvency-33.2%
Debt / equity-3.96
Long-term debt ratio-2.81
Interest coverage-117.12
Gross margin-
Net margin-
ROA-22.8%
ROE68.6%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€161k
Fixed assets 21/28€34k
Formation expenses 20€637
Intangible fixed assets 21€15k
Tangible fixed assets 22/27€19k
Current assets 29/58€127k
Stocks & contracts in progress 3€35k
Amounts receivable within one year 40/41€38k
Cash & bank 54/58€53k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€161k
Equity 10/15€-53k
Contributions / capital 10/11€90k
Accumulated profits (losses) 14€-143k
Provisions & deferred taxes 16€3k
Amounts payable 17/49€211k
Amounts payable after one year 17€150k
Amounts payable within one year 42/48€60k
Trade debts payable within one year 44€32k
Income statement
Gross operating margin 9900€-26k
Operating result 9901€-36k
Financial charges 65€256
Result before taxes 9903€-37k
Net result for the period 9904€-37k
Result to be appropriated 9905€-37k
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2023 · computed
45 / 100 Fair
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

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Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Directors

Directors & mandates

4 directors
Current directors & mandates
  • Nicolas Rossion
    Director (executive)
    State Gazette act 24108034 (17-07-2024)
    Current
    17-07-2024 → present
  • Stephan Bussing
    Director (executive)
    State Gazette act 24108034 (17-07-2024)
    Current
    17-07-2024 → present
Former directors (2)
  • Jean-Paul Pütz
    Director (executive)
    State Gazette act 24108034 (17-07-2024)
    Former
    - → 17-07-2024
  • Sebastian Moreno-Vacca
    Director (executive)
    State Gazette act 24108034 (17-07-2024)
    Former
    - → 17-07-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary Handelsbemiddeling in de groothandel in hout en bouwmaterialen(46130)
Legal form Private limited company(610)
Incorporation25-03-2021
StatusActive
Postal code7141

Structure & network

Locations & real estate

Establishment units

1 location
Place de Carnières(CAR) 30, 7141 Morlanwelz
Handelsbemiddeling in verf en vernis
since 20212.317.010.393
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area321 m²
Buildings1
Building footprint198 m²
Volume (LiDAR)1,354 m³
Tallest building8.3 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
56015D0158/00Y000 Wallonia 321 m² 1 · 198 m² 8.3 m · 2 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

2 acts
Capital history · 1
12-08-2022
Capital change
All acts · 2 updated 2 years ago
2024
17-07-2024 2 directors appointed, 2 resigning Director changes
  • Nicolas Rossion, Directeur
  • Stephan Bussing, Directeur
  • Jean-Paul Pütz, Directeur
  • Sebastian Moreno-Vacca, Directeur
2022
12-08-2022 Capital increase of €80,000 Capital & shares·Nicolas Demolin
  • Inbreng in geld · Apport en numéraire
Notary: Nicolas Demolin · Manage

Analysis

Snowflake analysis

financial profile on 5 axes
Health45Profitability100Solvency67Growth32Stability94
68 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 45
Profitability 100
Solvency 67
Growth 32
Stability 94

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Credit advice

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

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Company registry

Company registry (CBE)

Crossroads Bank
Activities
Handelsbemiddeling in hout en bouwmaterialen46130Handelsbemiddeling in de groothandel in hout en bouwmaterialen46130Handelsbemiddeling in goederen, algemeen assortiment46190Handelsbemiddeling in de niet-gespecialiseerde groothandel46190Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Adviesbureaus op het gebied van public relations en communicatie70210Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220Ingenieurs en aanverwante technische adviseurs, exclusief landmeters71121Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts71121Overige technische testen en toetsen71209Overige technische testen en toetsen71209Activiteiten van adviesbureaus op het gebied van public relations en communicatie73300Overige gespecialiseerde wetenschappelijke en technische activiteiten74909Overige activiteiten van vrije beroepen en andere wetenschappelijke en technische activiteiten, neg74999Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990
Primary activity highlighted.
Names & trade names
Legal nameFR BWatt
Registered office
Place de Carnières(CAR) 30
7141 Morlanwelz, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.