Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 58 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2.3 to 1.
Financials
Financial year 2025
Koninklijke Waregemse Koersvereniging from Waregem, company number BE0410013159, closed financial year 2025 with a result of € 91,504 after tax. For that financial year Koninklijke Waregemse Koersvereniging recorded a gross margin of € 314,030 and equity of € 1.2 million. Compared with financial year 2024, the result moved from € 84,214 to € 91,504. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 19, 2026.
€ 1.2 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 91,504
▲ 9% vs 2024
Profit after tax over the fiscal year.
€ 687,741
▼ 30% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
1
▼ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 106,856
▼ 1% vs 2024
€ 106,900 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.
€ 706
▼ 41% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 186,319
▼ 21% vs 2024
€ 51,928 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 48,313
▼ 30% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,293
▼ 31% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 825,594 | € 503,599 | € 304,066 | € 314,030 | ▲ 3% |
| Profit after taxes | € 914,458 | € 223,342 | € 84,214 | € 91,504 | ▲ 9% |
| Equity | € 805,696 | € 1,029,038 | € 1,113,252 | € 1,204,756 | ▲ 8% |
| Total debts | € 3,604,407 | € 3,285,926 | € 2,885,093 | € 2,101,533 | ▼ 27% |
| Cash | € 911,098 | € 823,297 | € 985,547 | € 687,741 | ▼ 30% |
| Land & buildings | € 255,541 | € 240,318 | € 225,096 | € 402,908 | ▲ 79% |
| Retained profit | € 393,990 | € 617,332 | € 701,546 | € 793,050 | ▲ 13% |
| Bank debt | € 336,098 | € 287,153 | € 237,233 | € 186,319 | ▼ 21% |
| Balance sheet total | € 4,410,103 | € 4,314,963 | € 3,998,345 | € 3,306,289 | ▼ 17% |
| Employees (FTE) | 2.3 | 2.3 | 1.1 | 1 | ▼ 0.1 |
Key figures of Koninklijke Waregemse Koersvereniging, 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 Koninklijke Waregemse Koersvereniging?
What happened at Koninklijke Waregemse Koersvereniging in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Kurt Vanryckegem stepped down as director. NBB
- Ariane Storme stepped down as director. NBB
- Rik Soens stepped down as director. NBB
- Thierry Storme stepped down as director. NBB
- Thierry Lohest stepped down as director. NBB
- Carl Bouckaert stepped down as director. NBB
- Pieter Dejager stepped down as director. NBB
- Philippe Casier stepped down as director. NBB
In short
From € 914,458 profit in 2022 to € 91,504 profit in 2025.
Paid € 213,582 in corporate taxes since 2022.
Best year ever: 2022, with € 914,458 profit.
On average € 314,000 of value added per employee in 2025.
A new publication or filing at Koninklijke Waregemse Koersvereniging? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Kurt Vanryckegem
Director
since 2025 · until 2028
Thierry Storme
Director
Also active at: B.S.I., Ouverture Invest, IMMOBILIAIRE VENNOOTSCHAP DER VLAANDEREN, VIERWINDEN, OBELISC, BIO-INCUBATOR ZWIJNAARDE
since 2016 · until 2027
Thierry Lohest
Director
since 2006 · until 2027
since 2025 · until 2028
Carl Bouckaert
Director
since 2006 · until 2027
Pieter Dejager
Director
since 2019 · until 2027
Rik Soens
Director
Also active at: Intergemeentelijke Maatschappij voor Openbare Gezondheid in Zuid-West-Vlaanderen, WESTTOER, SW+, Woonmaatschappij VIVUS, Centrum voor Informatica – Oplossingen – Ondersteuning – Overheid, Inagro, provinciaal extern verzelfstandigd agentschap in privaatrechtelijke vorm, BEDRIJVENCENTRUM REGIO WAREGEM, ELECTRABEL GREEN PROJECTS FLANDERS +9 more
since 2022 · until 2028
since 2016 · until 2027
Establishments
Establishment units
Physical locations of this company
Holstraat 97
8790 Waregem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
DSTNY-BACKBONE International Backbone, BE
Domain
Domain
waregemkoerse.be
Registered
2001-01-29
Website info
Features
Security
Details
- Company number
- 0410.013.159
- VAT number
- BE 0410.013.159
- Registered office
- Holstraat 97, 8790 Waregem
- Names & denominations
- Koninklijke Waregemse Koersvereniging
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 9 November 1922
- Peppol
- Active · Active since 8 Dec 2025
- Contact
- waregemkoerse.be
- Activities · NACE
Exploitatie van sportaccommodaties
Beheer en exploitatie van sportcentra