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 3 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TOP WATCH from Wavre, company number BE0883909530, closed financial year 2025 with a result of € 9,382 after tax. For that financial year TOP WATCH recorded a gross margin of € 50,291 and equity of € -2,201. Compared with financial year 2024, the result moved from € 4,710 to € 9,382. Profitable, and profit is growing. 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 October 29, 2025.
€ -2,201
▲ € 9,382 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 9,382
▲ 99% vs 2024
Profit after tax over the fiscal year.
€ 220
▼ 96% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -139,201.
People and assets in 2025
€ 19,725
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 200,066
▼ 15% vs 2024
€ 37,983 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 24,106
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 13,860
▲ 60% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 45,434 | € 38,213 | € 51,629 | € 50,291 | ▼ 3% |
| Profit after taxes | € -6,620 | € -29,241 | € 4,710 | € 9,382 | ▲ 99% |
| Equity | € 12,948 | € -16,293 | € -11,583 | € -2,201 | ▲ € 9,382 |
| Total debts | € 537,889 | € 561,167 | € 523,639 | € 454,374 | ▼ 13% |
| Cash | € 3,073 | € 1,700 | € 4,962 | € 220 | ▼ 96% |
| Land & buildings | € 378,059 | € 364,127 | € 350,196 | € 336,264 | ▼ 4% |
| Retained profit | € -124,052 | € -153,293 | € -148,583 | € -139,201 | ▲ € 9,382 |
| Bank debt | € 260,224 | € 274,400 | € 235,356 | € 200,066 | ▼ 15% |
| Balance sheet total | € 550,837 | € 544,874 | € 512,056 | € 452,173 | ▼ 12% |
Key figures of TOP WATCH, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2026 has not been filed yet; it was expected before 31 October 2026.
What happened to TOP WATCH?
What happened at TOP WATCH in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Stephan SIEMONS stepped down as director. NBB
- Viviane DUJARDIN stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 9,382 (▲ 99% vs 2024). Source: NBB ↗
- Stephan SIEMONS became a director. NBB
- Viviane DUJARDIN became a director. NBB
- New establishment in Wavre. KBO
- Incorporation, published in the Gazette. Source: Staatsblad ↗
In short
From € 6,620 loss in 2022 to € 9,382 profit in 2025.
Best year ever: 2025, with € 9,382 profit.
Management
Directors
According to the 2025 annual accounts
Stephan SIEMONS
Managing director
since 2024 · until 2030
Viviane DUJARDIN
Director
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Place de l'Hôtel de Ville 15/16
1300 Wavre
Place de l'Hôtel de Ville 15
1300 Wavre
Active since 21 November 2006
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- SIEMONS Stephan William Michel(oprichter) 95.2%
- DEPREZ Maurice Isidore Louis Maxime Ghislain(oprichter) 1.6%
- DUJARDIN Viviane Jeanne Alice Ghislaine(oprichter) 1.6%
- JASPARD Sandrine Emile Monique Marie Joseph(oprichter) 1.6%
Details
- Company number
- 0883.909.530
- VAT number
- BE 0883.909.530
- Registered office
- Place de l'Hôtel de Ville 15/16, 1300 Wavre
- Names & denominations
- TOP WATCH
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 2 October 2006
- Peppol
- Active · Active since 17 Dec 2025
- Activities · NACE
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