Checked.be
Active
BE 0460.960.529Private limited company
EDWA
Nieuwe Vosvijvers 85 ·3920 Lommel, Belgium· 29 yrs active
Sector: General electrical installation work
(43211)
Conclusion
EDWA has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €744k and a net result of €-106k. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 343 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €744k |
| Net result | €-106k |
| Better than sector | 95% |
| Active | 29 yrs |
Financial profile
57
/ 100
Mixed profile: strong on solvency, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
52
Profitability
0
Solvency
100
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1997, 29 years in business.
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 strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
52
/ 100
Fair
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.
Indicative credit limit
€40k
estimate, not credit advice
Score history
55
2022
70
2023
60
2024
52
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 211.80 (≥ 1.5)
+10
Quick ratio
Quick ratio 211.80 (≥ 1.0)
+5
Leverage
Debt/equity 0.00 (< 1.0)
+10
Profitability
Negatieve ROE -14%
-10
Interest coverage
Interest coverage -30.3× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 25-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~4.3%/year over 4 fiscal years, indicative, assuming unchanged policy.
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 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 99.5% | 39.1% | |
| Net result | €-106k | €40k | |
| Equity | €744k | €193k | |
| Gross operating margin | €512 | €230k | |
| Total assets | €747k | €633k |
€-5k
+70.4%
22-25
€-106k
-378.4%
22-25
€-98k
-843.9%
22-25
€747k
-12.4%
22-25
€744k
-12.5%
22-25
€743k
+0.3%
22-25
€140
-15.1%
22-25
€4k
+22.2%
22-25
€4k
+22.2%
22-25
211.80
-17.9%
22-25
211.80
-17.5%
22-25
99.5%
-0.1%
22-25
0.00
+39.6%
22-25
-14.3%
-446.6%
22-25
-14.2%
-445.9%
22-25
-30.35
+69.9%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €-5k | €-18k | €2k | €-19k |
| Net profit | €-106k | €-22k | €-24k | €-21k |
| Cash flow | €-98k | €-10k | €-7k | €-3k |
| Staff costs | - | - | - | - |
| Income taxes | €140 | €164 | €12k | €-23k |
| Dividends | - | - | - | - |
| Total assets | €747k | €853k | €876k | €1.12M |
| Equity | €744k | €850k | €872k | €896k |
| Debt | €4k | €3k | €3k | €224k |
| of which ≤ 1y | €4k | €3k | €3k | €224k |
| of which > 1y | - | - | - | - |
| Working capital | €743k | €741k | €751k | €758k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 211.80 | 257.90 | 220.50 | 4.38 |
| Quick ratio | 211.80 | 256.67 | 219.46 | 4.37 |
| Working capital ratio | 99.3% | 86.8% | 85.8% | 67.7% |
| Solvency | 99.5% | 99.7% | 99.6% | 80.0% |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.25 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | -30.35 | -100.92 | 11.81 | -122.52 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -14.2% | -2.6% | -2.7% | -1.9% |
| ROE | -14.3% | -2.6% | -2.7% | -2.4% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €747k | €853k | €876k | €1.12M |
| Fixed assets | 21/28 | €1k | €109k | €121k | €138k |
| Tangible fixed assets | 22/27 | €1k | €109k | €121k | €138k |
| Current assets | 29/58 | €746k | €744k | €755k | €982k |
| Stocks & contracts in progress | 3 | - | €4k | €4k | €4k |
| Amounts receivable within one year | 40/41 | €260k | €226k | €274k | €354k |
| Investments | 50/53 | €394k | €465k | €315k | €255k |
| Cash & bank | 54/58 | €91k | €47k | €161k | €369k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €747k | €853k | €876k | €1.12M |
| Equity | 10/15 | €744k | €850k | €872k | €896k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €899k | €899k | €899k | €899k |
| Accumulated profits (losses) | 14 | €-173k | €-67k | €-45k | €-21k |
| Amounts payable | 17/49 | €4k | €3k | €3k | €224k |
| Amounts payable within one year | 42/48 | €4k | €3k | €3k | €224k |
| Trade debts payable within one year | 44 | €140 | €164 | €562 | €128 |
| Income statement | |||||
| Gross operating margin | 9900 | €512 | €-10k | €8k | €-10k |
| Operating result | 9901 | €-13k | €-29k | €-15k | €-37k |
| Financial income | 75 | €7k | €8k | €2k | €5k |
| Financial charges | 65 | €172 | €175 | €175 | €153 |
| Result before taxes | 9903 | €-106k | €-22k | €-12k | €-45k |
| Income taxes | 67/77 | €140 | €164 | €12k | €-23k |
| Net result for the period | 9904 | €-106k | €-22k | €-24k | €-21k |
| Result to be appropriated | 9905 | €-106k | €-22k | €-24k | €-21k |
Legal Structure
| NACE primary | General electrical installation work(43211) |
| Legal form | Private limited company(610) |
| Incorporation | 01-07-1997 |
| Status | Active |
| Postal code | 3920 |
Establishment units
EDWA
since 19972.082.441.629
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72344D1001/00G004 | Flanders | 1,571 m² | 1 · 151 m² | 10.7 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet €-106k
Net result drops to €-106k, the lowest in the series.
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 54 days late
2024
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 7 days late
2023
31-12
Financial
Liquidity times 50current ratio 220.50
Current ratio from 4.38 to 220.50; short-term debt falls from €224k to €3k.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 21 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 23 days late
2021
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 11 days late
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 13 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 21 days late
2017
31-07
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.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General electrical installation work4321145310
Names & trade names
| Legal nameNL | EDWA |
Similar companies
WM électricité
BE 0877.006.791 · Fleurus
Sunny Energy
BE 0890.843.545 · Alken
TechIT.be
BE 0849.350.806 · Grez-Doiceau
CORDEC
BE 0821.053.332 · Dendermonde
KEUKENS SCHREURS
BE 0472.295.374 · Nieuwerkerken (Limb.)