Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 2 of the last 2 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 37 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
RECYWAT from Aywaille, company number BE1002166287, closed financial year 2025 with a result of € -121,884 after tax. For that financial year RECYWAT recorded a gross margin of € 121,977 and equity of € -124,400. Compared with financial year 2024, the result moved from € -12,516 to € -121,884. 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 August 31, 2026.
€ -124,400
▼ € 121,884 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -121,884
▼ 874 % more loss than in 2024
Profit after tax over the fiscal year.
€ 29,362
▲ 52% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -134,400.
People and assets in 2025
€ 68,101
▲ 95% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 13,172
▼ 26% vs 2024
Of which on lease € 12,237.
Debts at end 2025
€ 630,220
▼ 13% vs 2024
€ 144,240 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 229,297
▲ € 184,190 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,293
▼ 33% vs 2024
Taxes, VAT and social contributions still to pay.
| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Gross margin | € 162,544 | € 121,977 | ▼ 25% |
| Profit after taxes | € -12,516 | € -121,884 | ▼ € 109,369 |
| Equity | € -2,516 | € -124,400 | ▼ € 121,884 |
| Total debts | € 791,369 | € 914,810 | ▲ 16% |
| Cash | € 19,357 | € 29,362 | ▲ 52% |
| Retained profit | € -12,516 | € -134,400 | ▼ € 121,884 |
| Bank debt | € 728,371 | € 630,220 | ▼ 13% |
| Balance sheet total | € 788,854 | € 799,572 | ▲ 1% |
Key figures of RECYWAT, fiscal years 2024 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 RECYWAT?
What happened at RECYWAT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 121,884. filed late Source: NBB ↗
- New establishment in Aywaille. KBO
- Start of the company according to the CBE. KBO
In short
From € 12,516 loss in 2024 to € 121,884 loss in 2025.
Management
Behind RECYWAT are MAXIME LACASSE, OLIVIER WATHELET and GWATHELET. OLIVIER WATHELET is also behind ROBA et Compagnie. GWATHELET is also behind Locawatt.
Directors
According to the 2025 annual accounts
Director · represented by Maxime LACASSE
Establishments
Establishment units
Physical locations of this company
Rue de Lambinon 6
4920 Aywaille
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.
Details
- Company number
- 1002.166.287
- VAT number
- BE 1002.166.287
- Registered office
- Rue de Lambinon 6, 4920 Aywaille
- Names & denominations
- RECYWAT
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 November 2023
- Peppol
- Active · Active since 25 Dec 2025
- Activities · NACE
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