Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 37 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 11.1 to 4.5.
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Busy address KBO
40 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
NOWA from Mechelen, company number BE0441436112, closed financial year 2025 with a result of € -2.6 million after tax. For that financial year NOWA recorded revenue of € 5.6 million and equity of € 9 million. Compared with financial year 2024, the result moved from € -1.4 million to € -2.6 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 9, 2026.
€ 9 million
▼ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.6 million
▼ 85 % more loss than in 2024
Profit after tax over the fiscal year.
€ 433,713
▼ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -4.6 million.
People and assets in 2025
4.5
▼ 5.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 577,978
▼ 49% vs 2024
€ 128,400 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.
€ 2,906
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3 million
Loans from banks and other lenders, long and short.
€ 10.2 million
▲ 105% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 410 days on average.
€ 454,630
▲ 156% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 14,946,605 | € 28,125,715 | € 1,450,102 | € 5,591,748 | ▲ 286% |
| Profit after taxes | € -4,234,783 | € -1,120,273 | € -1,412,668 | € -2,613,982 | ▼ € 1.2 million |
| Equity | € 14,182,603 | € 13,062,330 | € 11,649,662 | € 9,035,680 | ▼ 22% |
| Total debts | € 24,305,899 | € 15,532,345 | € 11,167,539 | € 15,152,851 | ▲ 36% |
| Cash | € 2,265,970 | € 2,891,674 | € 582,813 | € 433,713 | ▼ 26% |
| Retained profit | € 555,073 | € -565,200 | € -1,977,868 | € -4,591,850 | ▼ € 2.6 million |
| Bank debt | € 13,050,000 | € 5,789,293 | € 3,000,000 | € 3,000,000 | |
| Balance sheet total | € 38,488,502 | € 28,594,675 | € 22,817,201 | € 24,188,531 | ▲ 6% |
| Employees (FTE) | 11.1 | 11.1 | 9.7 | 4.5 | ▼ 5.2 |
Key figures of NOWA, 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 NOWA?
What happened at NOWA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Tom Willemen stepped down as director. NBB
- Katleen Willemen stepped down as director. NBB
- MaNaJo Beheer CommV stepped down as director. NBB
- Johan Willemen stepped down as director. NBB
- Sidharta Consulting BV stepped down as director. NBB
- Bram Willemen stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2.6 million. Source: NBB ↗
- Tom Willemen became a director. NBB
In short
From € 4.2 million loss in 2022 to € 2.6 million loss in 2025.
Paid € 12,211 in corporate taxes since 2022.
Management
It owns 100% of Cobelfroi, 100% of Immo Cubes, 100% of Willemen Grondbank, 50% of Vlasmarkt Bouw en Promotie and 33.3% of Lioncity Development itself.
Directors
According to the 2025 annual accounts
Tom Willemen
Director
Also active at: FRANKI, DE WAAL SOLID FOUNDATIONS, IMMO CUBES, FILTEINT INVEST, WILLEMEN INFRA, VANDAMME - MADOE, ETION Synergia, VlaWeBo Oost-vlaanderen +37 more
since 2023 · until 2029
since 2023 · until 2029
Managing director · represented by Marc Jonckheere
Also active at: FRANKI, IMMO CUBES, FILTEINT INVEST, WILLEMEN INFRA, VANDAMME - MADOE, WP STEEL BE, Cosimco, Kumpen +25 more
since 2023 · until 2029
Johan Willemen
Managing director
Also active at: DE WAAL SOLID FOUNDATIONS, IMMO CUBES, FILTEINT INVEST, WILLEMEN INFRA, Cosimco, Gebroeders Vereecken, SANITECHNIEK, AMADEUS +17 more
since 2023 · until 2029
Director · represented by Django Liénart
Also active at: FRANKI, IMMO CUBES, FILTEINT INVEST, WILLEMEN INFRA, Cosimco, SANITECHNIEK, AMADEUS, ALBITUM +9 more
since 2023 · until 2029
Bram Willemen
Director
Also active at: MANIM, CASSIOPEIA, WILLEMEN GROEP, HAEGEWINDE, COMPAGNIE BELLIARD FROISSART
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Boerenkrijgstraat 133
2800 Mechelen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 40 companies are registered at this address.
All companies at this address →IMMO CUBES same network
€ -88 gross margin · 2025
FILTEINT INVEST same network
€ -88 gross margin · 2025
WP STEEL BE same network
€ -88 gross margin · 2025
AMADEUS same network
€ -88 gross margin · 2025
WILLEMEN PROJECT FINANCE same network
€ 106,241 gross margin · 2025
+35 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Website info
Features
Details
- Company number
- 0441.436.112
- VAT number
- BE 0441.436.112
- Registered office
- Boerenkrijgstraat 133, 2800 Mechelen
- Names & denominations
- NOWA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 July 1990
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- willemen-realestate.be
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis
Overige werkzaamheden in verband met de afwerking van gebouwen
Activiteiten van holdings
Algemene bouw van residentiële gebouwen
Portefeuillemaatschappijen
+2