Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 48 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SWARO from Liège, company number BE0656917454, closed financial year 2025 with a result of € -4,884 after tax. For that financial year SWARO recorded a gross margin of € 135,347 and equity of € -23,040. Compared with financial year 2024, the result moved from € -41,414 to € -4,884. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 29, 2026.
€ -23,040
▼ € 4,884 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4,884
▲ 88 % less loss than in 2024
Profit after tax over the fiscal year.
€ 48,665
▲ 70% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -63,040.
People and assets in 2025
2.9
▼ 0.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 106,150
▼ 8% vs 2024
€ 36,600 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.
Debts at end 2025
€ 100,000
▲ 100% vs 2024
Loans from banks and other lenders, long and short.
€ 190,241
▼ 2% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 32,114
▼ 20% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 121,589 | € 112,174 | € 105,685 | € 135,347 | ▲ 28% |
| Profit after taxes | € 1,918 | € -24,460 | € -41,414 | € -4,884 | ▲ € 36,530 |
| Equity | € 47,717 | € 23,257 | € -18,157 | € -23,040 | ▼ € 4,884 |
| Total debts | € 199,835 | € 260,622 | € 307,116 | € 363,308 | ▲ 18% |
| Cash | € 23,024 | € 33,551 | € 28,626 | € 48,665 | ▲ 70% |
| Retained profit | € 7,717 | € -16,743 | € -58,157 | € -63,040 | ▼ € 4,884 |
| Bank debt | € 2,865 | € 2,865 | € 50,000 | € 100,000 | ▲ 100% |
| Balance sheet total | € 247,552 | € 283,879 | € 288,960 | € 340,268 | ▲ 18% |
| Employees (FTE) | 2.9 | 3 | 3.8 | 2.9 | ▼ 0.9 |
Key figures of SWARO, 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 SWARO?
What happened at SWARO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 4,884. Source: NBB ↗
- New establishment in Liège. KBO
- New establishment in Chaudfontaine. KBO
- MIS IMMO SRL became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 1,918 profit in 2022 to € 4,884 loss in 2025.
Best year ever: 2022, with € 1,918 profit.
On average € 46,700 of value added per employee in 2025.
A new publication or filing at SWARO? 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
The stake of BEL - OR comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SWAROBehind SWARO is MIS IMMO SRL. The shares are held by BEL - OR (100%).
Directors
According to the 2025 annual accounts
since 2016
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Chaussée de Tongres 269/9
4000 Liège
Chaussée de Tongres 269
4000 Liège
Active since 12 April 2017
Voie de l'Ardenne 50
4053 Chaudfontaine
Active since 23 June 2016
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.
Details
- Company number
- 0656.917.454
- VAT number
- BE 0656.917.454
- Registered office
- Chaussée de Tongres 269/9, 4000 Liège
- Names & denominations
- SWARO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 23 June 2016
- Peppol
- Active · Active since 17 Dec 2025
- Activities · NACE
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