ACTIVE

RW WHEELS

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Financial year 2025 · closed on 31/12/2025

Net result

106,8 k €

-8.7% YoY

Gross margin

272 k €

-1.3% YoY

Equity

863,4 k €

+4.4% YoY

What does RW WHEELS do?

RW WHEELS is a Public limited company incorporated in 1988. Its main activity is: Air transport. Its registered office is in Nazareth-De Pinte.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0434.860.601

Incorporation

15/07/1988

Legal form

Public limited company

Registered office

Tulpenstraat 3
9810 Nazareth-De Pinte · FlandreSee on map

Contributed capital

173 526,00 €

Latest accounts

31/12/2025

Activities (NACE)

51900Air transport· main 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate 46900Non-specialised wholesale trade 46900Non-specialised wholesale trade

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	272 k €	-1.3%	275,5 k €	+15.6%	238,4 k €	+5.2%	226,6 k €	-6.5%	242,3 k €	+50.7%	160,8 k €	-25.0%	214,4 k €	-45.5%	393,5 k €	+74.2%	225,9 k €	+46.5%	154,2 k €	+35.8%	113,6 k €	-17.7%	138 k €	-30.8%	199,5 k €	+0.9%	197,8 k €	-23.0%	256,7 k €	+23.7%	207,6 k €	+13.4%	183,1 k €	-0.4%	183,8 k €	+11.2%	165,3 k €	-16.4%	197,8 k €
EBITDA	243,4 k €	-1.8%	247,7 k €	+17.1%	211,6 k €	+4.7%	202,2 k €	-7.4%	218,4 k €	+59.3%	137,1 k €	-28.7%	192,2 k €	-48.4%	372,2 k €	+84.9%	201,3 k €	+63.7%	123 k €	+35.7%	90,6 k €	-19.1%	112 k €	-35.8%	174,4 k €	+8.8%	160,2 k €	-31.8%	235 k €	+25.1%	187,8 k €	+15.6%	162,5 k €	+1.6%	159,9 k €	+6.5%	150,1 k €	-17.9%	182,8 k €
Operating result	143,1 k €	-9.4%	157,9 k €	+25.6%	125,7 k €	-1.4%	127,5 k €	-18.6%	156,7 k €	+41.4%	110,8 k €	-33.1%	165,6 k €	-53.5%	356,1 k €	+129%	155,5 k €	+101%	77,2 k €	+83.3%	42,1 k €	-50.8%	85,5 k €	-40.5%	143,8 k €	+25.4%	114,7 k €	-34.7%	175,7 k €	+37.5%	127,8 k €	+124%	57 k €	-2.7%	58,6 k €	+2.4%	57,2 k €	-44.1%	102,4 k €
Net result	106,8 k €	-8.7%	117 k €	+29.6%	90,3 k €	-10.0%	100,3 k €	-26.7%	136,9 k €	+49.9%	91,3 k €	-25.5%	122,7 k €	-60.7%	312 k €	+209%	101,1 k €	+70.2%	59,4 k €	-33.7%	89,5 k €	+2.8%	87,1 k €	-35.0%	134 k €	+5.1%	127,5 k €	-33.0%	190,4 k €	+35.1%	141 k €	+76.1%	80,1 k €	-7.7%	86,7 k €	-15.3%	102,4 k €	+0.0%	102,3 k €
Balance sheet
Equity	863,4 k €	+4.4%	826,7 k €	+6.0%	779,7 k €	+5.4%	739,4 k €	+4.1%	710,6 k €	+10.1%	645,2 k €	+16.5%	553,9 k €	+11.6%	496,3 k €	+74.6%	284,2 k €	-89.0%	2,6 M €	+2.4%	2,5 M €	+3.7%	2,4 M €	+3.7%	2,3 M €	+6.1%	2,2 M €	+6.1%	2,1 M €	+10.0%	1,9 M €	+8.0%	1,8 M €	+4.8%	1,7 M €	+5.5%	1,6 M €	+6.9%	1,5 M €
Total assets	1,3 M €	-3.9%	1,3 M €	+6.0%	1,2 M €	-8.4%	1,4 M €	+4.0%	1,3 M €	+48.8%	880,2 k €	+19.0%	739,5 k €	-46.4%	1,4 M €	-50.0%	2,8 M €	+4.3%	2,6 M €	+3.1%	2,6 M €	+4.4%	2,5 M €	+2.9%	2,4 M €	+7.3%	2,2 M €	+5.6%	2,1 M €	+10.4%	1,9 M €	+7.5%	1,8 M €	+3.2%	1,7 M €	+3.5%	1,7 M €	+3.1%	1,6 M €
Cash	21,4 k €	+104%	10,5 k €	+94.6%	5,4 k €	-70.0%	18 k €	-29.4%	25,5 k €	-47.2%	48,2 k €	+157%	18,8 k €	-97.1%	651,7 k €	-70.8%	2,2 M €	+7.8%	2,1 M €	+4.7%	2 M €	+1.7%	1,9 M €	+4.4%	1,9 M €	+12.5%	1,7 M €	+5.8%	1,6 M €	+19.2%	1,3 M €	+14.5%	1,1 M €	+16.5%	985,3 k €	+8.8%	905,5 k €	+8.6%	833,4 k €
Debts	408,2 k €	-17.3%	493,4 k €	+6.6%	463 k €	-25.3%	620 k €	+4.0%	596,1 k €	+154%	234,9 k €	+26.6%	185,6 k €	-78.9%	880,8 k €	-64.4%	2,5 M €	+3753%	64,2 k €	+48.7%	43,2 k €	+84.7%	23,4 k €	-44.2%	41,9 k €	+232%	12,6 k €	-42.4%	22 k €	+57.2%	14 k €	-36.5%	22 k €	-52.5%	46,3 k €	-30.0%	66,2 k €	-44.4%	119,1 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 29 ended

Active mandates

BESTNA

Director · 0564.794.673

Represented by Verhaeghe BERNARD

Active

Ended mandates

Bernard Verhaeghe

Director · since 18 janvier 2018 · until 18 janvier 2024

Ended

Bernard Verhaeghe

Director · since 18 janvier 2018

Ended

BESTNA

Director · since 18 janvier 2018 · 0564.794.673

Represented by Bernard Verhaeghe

Ended

BESTNA

Managing director · since 18 janvier 2018 · until 18 janvier 2024 · 0564.794.673

Represented by Bernard Verhaeghe

Ended

At this address

Other companies at this address

Company	CBE no.
BERTEC● Active	0462.423.744
CARR-CUP● Active	0640.925.025

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/06/2026	03/06/2025	29/03/2024	28/06/2023	30/05/2022	25/05/2021
General meeting	22/06/2026	28/05/2025	01/03/2024	03/03/2023	04/03/2022	05/03/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	22/06/2026	30/06/2026	Dutch	PDF
Micro model	31/12/2024	28/05/2025	03/06/2025	Dutch	PDF
Micro model	31/12/2023	01/03/2024	29/03/2024	Dutch	PDF
Micro model	31/12/2022	03/03/2023	28/06/2023	Dutch	PDF
Micro model	31/12/2021	04/03/2022	30/05/2022	Dutch	PDF
Micro model	31/12/2020	05/03/2021	25/05/2021	Dutch	PDF
Micro model	31/12/2019	06/03/2020	27/03/2020	Dutch	PDF
Micro model	31/12/2018	01/03/2019	11/03/2019	Dutch	PDF
Abridged model	31/12/2017	02/03/2018	23/03/2018	Dutch	PDF
Abridged model	31/12/2016	05/06/2017	07/06/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	06/06/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	02/06/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	27/06/2014	Dutch	PDF
Abridged model	31/12/2012	13/06/2013	13/06/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	27/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	17/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	04/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	03/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	06/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 29 ended

Active mandates

BESTNA

Director · 0564.794.673

Represented by Verhaeghe BERNARD

Active

Ended mandates

Bernard Verhaeghe

Director · since 18 janvier 2018 · until 18 janvier 2024

Ended

Bernard Verhaeghe

Director · since 18 janvier 2018

Ended

BESTNA

Director · since 18 janvier 2018 · 0564.794.673

Represented by Bernard Verhaeghe

Ended

BESTNA

Managing director · since 18 janvier 2018 · until 18 janvier 2024 · 0564.794.673

Represented by Bernard Verhaeghe

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Other13/03/2018
ALGEMENE VERGADERING
PDF
Mandates20/02/2018
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/06/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/02/2012
KAPITAAL - AANDELEN
PDF
Mandates04/10/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/07/2006
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/09/2002
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025106,8 k €↓
2024
Annual accounts 2024117 k €↑
2023
Annual accounts 202390,3 k €↓
2022
Annual accounts 2022100,3 k €↓
2021
Annual accounts 2021136,9 k €↑
2020
Annual accounts 202091,3 k €↓
2019
Annual accounts 2019122,7 k €↓
2018
Annual accounts 2018312 k €↑
2017
Annual accounts 2017101,1 k €↑
2016
Annual accounts 201659,4 k €↓
2015
Annual accounts 201589,5 k €↑
2014
Annual accounts 201487,1 k €↓
2013
Annual accounts 2013134 k €↑
2012
Annual accounts 2012127,5 k €↓
2011
Annual accounts 2011190,4 k €↑
2010
Annual accounts 2010141 k €↑
2009
Annual accounts 200980,1 k €↓
2008
Annual accounts 200886,7 k €↓
2007
Annual accounts 2007102,4 k €↑
2006
Annual accounts 2006102,3 k €
15/07/1988
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

RW WHEELS

Overview

What does RW WHEELS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline