Active BE 0877.006.791Private limited company

WM électricité

Rue des Sources(FL) 4 ·6220 Fleurus, Belgium· 20 yrs active

Sector: General electrical installation work (43211)

Conclusion Checked

WM électricité has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €744k and a net result of €168k. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 24% of 7448 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	€168k
Staff (FTE)	23.3
Better than sector	24%

Financial profile 5 of 5 axes measured · computed by Checked

69 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 73

Profitability 58

Solvency 36

Growth 80

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.7% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 2005, 20 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 Flags0 events

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 FY 2025 · computed

73 / 100 Healthy

050100

Computed from 6 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

€55k

estimate, not credit advice

Score history

65 2022

50 2023

73 2024

73 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.16 (≥ 1.0) +5

Leverage Debt/equity 3.39 (> 3.0) -10

Profitability ROE 23% (≥ 10%) +10

EBITDA margin EBITDA-marge 7% +2

Interest coverage Interest coverage 6.5× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview20 NBB filings

Annual accounts filed on 27-08-2026 with the NBB · fiscal year 2025 · abbreviated schema

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~17.3%/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	22.8%	44.0%	better than 24% of 7448 sector peers
Net result	€168k	€30k	better than 83% of 7444 sector peers
Equity	€744k	€276k	better than 78% of 7449 sector peers
Gross operating margin	€1.82M	€275k	better than 95% of 7433 sector peers
Staff costs	€1.42M	€244k	higher than 95% of 5368 sector peers

Revenue

€5.52M

+31.0% 22-25

EBITDA

€376k

+35.8% 22-25

Net profit

€168k

+59.2% 22-25

Cash flow

€247k

+44.1% 22-25

Total assets

€3.27M

+32.4% 22-25

Equity

€744k

+28.7% 22-25

Working capital

€349k

+12.4% 22-25

Employees (FTE)

23

+6.9% 22-25

Staff costs

€1.42M

+7.9% 22-25

Income taxes

€75k

+56.6% 22-25

Dividends

€70k

- 22-25

Debt

€2.52M

+33.6% 22-25

Debt ≤ 1y

€2.20M

+45.5% 22-25

Debt > 1y

€303k

-15.2% 22-25

Current ratio

1.16

-3.9% 22-25

Quick ratio

0.89

+17.1% 22-25

Solvency

22.8%

-2.8% 22-25

Debt / equity

3.39

+3.8% 22-25

ROE

22.5%

+23.7% 22-25

ROA

5.1%

+20.2% 22-25

Net margin

3.0%

+21.6% 22-25

EBITDA margin

6.8%

+3.7% 22-25

Interest coverage

6.46

+41.6% 22-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022
Deposit	abbreviated schema	full schema	full schema	full schema
Revenue	€5.52M	€4.21M	€4.16M	€3.61M
EBITDA	€376k	€277k	€159k	€273k
Net profit	€168k	€105k	€29k	€127k
Cash flow	€247k	€171k	€88k	€175k
Staff costs	€1.42M	€1.32M	€1.31M	€1.14M
Income taxes	€75k	€48k	€24k	€68k
Dividends	-	-	€70k	-
Total assets	€3.27M	€2.47M	€2.91M	€2.25M
Equity	€744k	€578k	€475k	€517k
Debt	€2.52M	€1.89M	€2.44M	€1.73M
of which ≤ 1y	€2.20M	€1.51M	€2.05M	€1.44M
of which > 1y	€303k	€358k	€341k	€272k
Working capital	€349k	€311k	€255k	€194k
Employees (FTE)	23.3	21.8	21.8	22.2

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022
Current ratio	1.16	1.21	1.12	1.13
Quick ratio	0.89	0.76	0.73	0.66
Working capital ratio	10.7%	12.6%	8.8%	8.6%
Solvency	22.8%	23.4%	16.3%	23.0%
Debt / equity	3.39	3.27	5.14	3.35
Long-term debt ratio	0.41	0.62	0.72	0.53
Interest coverage	6.46	4.56	2.81	7.91
Gross margin	33.0%	38.0%	35.8%	39.5%
Net margin	3.0%	2.5%	0.7%	3.5%
ROA	5.1%	4.3%	1.0%	5.6%
ROE	22.5%	18.2%	6.2%	24.5%
EBITDA margin	6.8%	6.6%	3.8%	7.6%
Days sales outstanding	96d	60d	86d	61d
Days payable outstanding	130d	117d	108d	161d
Inventory turnover	6.33	3.90	3.32	3.20
Days inventory (DSI)	58d	94d	110d	114d

Balance-sheet composition 2025

Assets

Fixed assets €717k · 22.0% Current assets €2.55M · 78.1%

Equity & liabilities

Equity €744k · 22.8% Debt €2.52M · 77.2%

Full annual accounts (27 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	€3.27M	€2.47M	€2.91M	€2.25M
Fixed assets	21/28	€717k	€645k	€607k	€616k
Intangible fixed assets	21	€27k	€37k	€19k	€17k
Tangible fixed assets	22/27	€613k	€539k	€528k	€540k
Financial fixed assets	28	€77k	€68k	€61k	€59k
Current assets	29/58	€2.55M	€1.82M	€2.31M	€1.63M
Stocks & contracts in progress	3	€584k	€669k	€806k	€683k
Amounts receivable within one year	40/41	€1.53M	€747k	€1.11M	€727k
Cash & bank	54/58	€407k	€377k	€369k	€202k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€3.27M	€2.47M	€2.91M	€2.25M
Equity	10/15	€744k	€578k	€475k	€517k
Contributions / capital	10/11	€19k	€19k	€19k	€19k
Reserves	13	€283k	€233k	€226k	€261k
Accumulated profits (losses)	14	€302k	€184k	€79k	€79k
Amounts payable	17/49	€2.52M	€1.89M	€2.44M	€1.73M
Amounts payable after one year	17	€303k	€358k	€341k	€272k
Amounts payable within one year	42/48	€2.20M	€1.51M	€2.05M	€1.44M
Trade debts payable within one year	44	€1.32M	€839k	€793k	€960k
Income statement
Turnover	70	€5.52M	€4.21M	€4.16M	€3.61M
Gross operating margin	9900	€1.82M	€1.60M	€1.49M	€1.42M
Operating result	9901	€296k	€211k	€100k	€225k
Financial income	75	€4k	€3k	€10k	€5k
Financial charges	65	€58k	€61k	€56k	€35k
Result before taxes	9903	€242k	€153k	€54k	€195k
Income taxes	67/77	€75k	€48k	€24k	€68k
Net result for the period	9904	€168k	€105k	€29k	€127k
Result to be appropriated	9905	€168k	€105k	€29k	€127k

Legal Structure

NACE primary	General electrical installation work(43211)
Legal form	Private limited company(610)
Incorporation	28-10-2005
Status	Active
Postal code	6220

Establishment units 1 location

WM électricité

Rue des Sources(FL) 4, 6220 FleurusNACE 3150203

since 20052.149.898.694

Real-estate footprint Source: CBE × cadastre

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
52021C0318/00V004	Wallonia	1,728 m²	1 · 514 m²	7.0 m · 1 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 11 events

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

27-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 27 days late

2025

31-12

Financial Highest result since 2022net €168k ▲59.2%

Operating result €296k, net result €168k, both a record.

28-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 28 days late

2024

31-12

Financial Equity above €500kEq €578k ▲21.8%

3 profitable years in a row build equity to €578k.

30-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 30 days late

2023

31-12

Financial Weakest financial yearnet €29k ▼76.9%

Net result drops to €29k, the lowest in the series; recovery starts the following year.

28-12

State Gazette act Director changes

Olivier LEBRUN

17-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

26-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 26 days late

2021

24-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 24 days late

2020

11-09

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 42 days late

2019

30-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 30 days late

2018

27-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

29-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 29 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2023

28-12-2023 Board composition published Director changes·Olivier LEBRUN

Notary: Olivier LEBRUN · Courcelles

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Manufacture of electrical equipment27402General electrical installation work4321145310

Names & trade names

Legal nameFR

WM électricité

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