Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 127.4 to 104.5.
Financials
Financial year 2025
DE WAAL SOLID FOUNDATIONS from Lokeren, company number BE0404634015, closed financial year 2025 with a result of € 2.7 million after tax. For that financial year DE WAAL SOLID FOUNDATIONS recorded revenue of € 39.1 million and equity of € 9.2 million. Compared with financial year 2024, the result moved from € 2.4 million to € 2.7 million. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 17, 2026.
€ 9.2 million
▼ 41% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.7 million
▲ 9% vs 2024
Profit after tax over the fiscal year.
€ 4.9 million
▼ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 9 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
104.5
▼ 14.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 8.7 million
▼ 8% vs 2024
€ 83,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2.8 million
▲ € 2.2 million vs 2024
Of which on lease € 2.6 million.
Debts at end 2025
€ 4.4 million
▲ 90% vs 2024
€ 651,167 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 8 million
▼ 2% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 95 days on average.
€ 977,320
▼ 72% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 41,852,953 | € 41,179,156 | € 73,324,676 | € 39,114,767 | ▼ 47% |
| Profit after taxes | € 542,924 | € 6,232,426 | € 2,432,759 | € 2,659,621 | ▲ 9% |
| Equity | € 9,870,011 | € 16,102,437 | € 15,535,196 | € 9,194,817 | ▼ 41% |
| Total debts | € 16,385,414 | € 19,698,194 | € 16,930,807 | € 22,538,352 | ▲ 33% |
| Cash | € 2,244,939 | € 3,029,777 | € 5,633,943 | € 4,879,622 | ▼ 13% |
| Land & buildings | € 2,759,284 | € 2,762,605 | € 251,505 | € 216,125 | ▼ 14% |
| Retained profit | € 9,172,179 | € 15,404,605 | € 14,837,364 | € 8,496,986 | ▼ 43% |
| Dividend | € 547,690 | € 0 | € 3,000,000 | € 9,000,000 | ▲ 200% |
| Bank debt | € 6,267,749 | € 5,479,328 | € 2,308,512 | € 4,380,053 | ▲ 90% |
| Balance sheet total | € 26,354,209 | € 35,811,283 | € 33,270,251 | € 32,169,455 | ▼ 3% |
| Employees (FTE) | 132 | 127.4 | 119.2 | 104.5 | ▼ 14.7 |
Key figures of DE WAAL SOLID FOUNDATIONS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to DE WAAL SOLID FOUNDATIONS?
What happened at DE WAAL SOLID FOUNDATIONS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 2.7 million (▲ 9% vs 2024). Source: NBB ↗
- New establishment in Oostende. KBO
- New establishment in Lokeren. KBO
- Start of the company according to the CBE. KBO
In short
From € 542,924 profit in 2022 to € 2.7 million profit in 2025.
Paid € 4.2 million in corporate taxes since 2022.
Best year ever: 2023, with € 6.2 million profit.
Paid out € 12.5 million in dividends to the owners in total.
Management
The stake of WILLEMEN GROEP, 2Fund comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
DE WAAL SOLID FOUNDATIONSBehind DE WAAL SOLID FOUNDATIONS are Gomaar BV, LYVIA BV and 2Fund BV. The shares are held by WILLEMEN GROEP (100%) and 2Fund (100%). It owns 100% of STUDIEBUREEL SONDEX itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Bart Cloet
Also active at: A. VYNCKE, VOTQUENNE FOUNDATIONS, STUDIEBUREEL SONDEX, LAMEIRE FUNDERINGSTECHNIEKEN, FONDILAM, ARMAVO, LAMEIRE FUTURE FOUNDATION TECHNICS, REVYSON +3 more
Managing director · represented by Yves Lameire
Also active at: A. VYNCKE, VOTQUENNE FOUNDATIONS, STUDIEBUREEL SONDEX, LAMEIRE FUNDERINGSTECHNIEKEN, FONDILAM, ARMAVO, LAMEIRE FUTURE FOUNDATION TECHNICS, REVYSON +3 more
Director · represented by Dirk Jonckheere
Also active at: A. VYNCKE, VOTQUENNE FOUNDATIONS, STUDIEBUREEL SONDEX, LAMEIRE FUNDERINGSTECHNIEKEN, FONDILAM, ARMAVO, LAMEIRE FUTURE FOUNDATION TECHNICS, REVYSON +2 more
Shareholders
100%
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Voshol 6 box A
9160 Lokeren
Voshol 6A
9160 Lokeren
Active since 4 February 1998
Edward Vlietinckstraat 22
8400 Oostende
Active since 31 December 2016
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
dewaal.eu
Registrar
Combell NV
Website info
Features
Security
Details
- Company number
- 0404.634.015
- VAT number
- BE 0404.634.015
- Registered office
- Voshol 6 bus A, 9160 Lokeren
- Names & denominations
- DE WAAL SOLID FOUNDATIONS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 November 1959
- Peppol
- Active · Active since 25 Dec 2025
- Contact
- dewaal.eu
- Activities · NACE
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