ACTIVE

WAPI

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Financial year 2025 · closed on 31/12/2025

Net result

24 k €

+429.4% YoY

Gross margin

183,1 k €

+116.7% YoY

Equity

380,2 k €

+6.7% YoY

What does WAPI do?

WAPI is a Private limited company incorporated in 2003. Its main activity is: Manufacture of cocoa, chocolate and sugar confectionery. Its registered office is in Mons.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0480.012.319

Incorporation

11/04/2003

Legal form

Private limited company

Registered office

Route d'Ath(N.) 10 box A
7020 Mons · WallonieSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

10820Manufacture of cocoa, chocolate and sugar confectionery· main 62010Computer programming activities 62100Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities 72500Scientific research and development 95100Repair of computers and communication equipment+1

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	183,1 k €	+117%	84,5 k €	-11.4%	95,3 k €	+56.0%	61,1 k €	-69.8%	202,5 k €	+33.9%	151,3 k €	+53.1%	98,8 k €	+1.4%	97,4 k €	+40.7%	69,3 k €	+792%	7,8 k €	-72.0%	27,8 k €	+51044%	54,3 €	-99.9%	52,8 k €	+60.7%	32,9 k €	+277%	8,7 k €	-57.8%	20,7 k €	+51.2%	13,7 k €	-74.1%	52,8 k €
EBITDA	69,3 k €	+75.6%	39,4 k €	-27.6%	54,5 k €	+6.9%	51 k €	-74.2%	197,8 k €	+33.4%	148,3 k €	+67.5%	88,5 k €	-6.8%	95 k €	+63.3%	58,2 k €	+1005%	5,3 k €	-79.7%	26 k €	+757%	-3,9 k €	-113%	29,8 k €	-6.2%	31,7 k €	+440%	5,9 k €	-70.4%	19,8 k €	+58.1%	12,5 k €	-75.9%	52,1 k €
Operating result	35,2 k €	+989%	-4 k €	-130%	13,2 k €	+6.0%	12,5 k €	-92.7%	171,5 k €	+21.6%	141 k €	+87.8%	75,1 k €	-12.9%	86,2 k €	+105%	42 k €	+4468%	-961,8 €	-105%	20,2 k €	+338%	-8,5 k €	-144%	19,3 k €	-2.7%	19,8 k €	+449%	-5,7 k €	-159%	9,6 k €	+607%	-1,9 k €	-105%	38,1 k €
Net result	24 k €	+429%	-7,3 k €	-216%	6,3 k €	+71.0%	3,7 k €	-96.2%	97,8 k €	-5.2%	103,1 k €	+111%	48,8 k €	-4.2%	50,9 k €	+106%	24,7 k €	+1508%	-1,8 k €	-111%	16,7 k €	+368%	-6,2 k €	-135%	17,6 k €	+157%	-30,6 k €	-265%	-8,4 k €	-216%	7,2 k €	+288%	-3,8 k €	-117%	22,3 k €
Balance sheet
Equity	380,2 k €	+6.7%	356,1 k €	-2.0%	363,4 k €	+1.8%	357,1 k €	+1.0%	353,5 k €	+38.2%	255,7 k €	+67.6%	152,6 k €	+47.0%	103,8 k €	+79.2%	57,9 k €	+74.1%	33,3 k €	-5.0%	35 k €	+67.0%	21 k €	-22.8%	27,2 k €	+183%	9,6 k €	-76.1%	40,2 k €	-17.3%	48,6 k €	+17.4%	41,4 k €	-8.5%	45,2 k €
Total assets	495,4 k €	+6.4%	465,7 k €	-0.3%	467,1 k €	-3.7%	485,2 k €	-9.2%	534,5 k €	+52.5%	350,6 k €	+76.5%	198,6 k €	+46.7%	135,4 k €	+25.1%	108,3 k €	+88.4%	57,5 k €	+22.2%	47,1 k €	+3.8%	45,3 k €	-39.6%	75 k €	+33.6%	56,1 k €	-55.1%	124,9 k €	+19.3%	104,7 k €	+0.4%	104,3 k €	+4.7%	99,6 k €
Cash	48,9 k €	-20.9%	61,8 k €	+11.4%	55,4 k €	+12.5%	49,2 k €	-27.0%	67,5 k €	-38.5%	109,7 k €	+59.1%	68,9 k €	+534%	10,9 k €	-64.4%	30,5 k €	+1116%	2,5 k €	+94.9%	1,3 k €	-91.3%	14,8 k €	-57.4%	34,7 k €	+231%	10,5 k €	-26.5%	14,2 k €	+241%	4,2 k €	+587%	608,5 €	-87.9%	5 k €
Debts	115,3 k €	+5.2%	109,5 k €	+5.7%	103,6 k €	-19.1%	128 k €	-29.3%	181,1 k €	+90.9%	94,9 k €	+106%	46 k €	+45.6%	31,6 k €	-36.5%	49,8 k €	+106%	24,2 k €	+101%	12 k €	-50.6%	24,3 k €	-48.8%	47,5 k €	+2.2%	46,5 k €	-45.1%	84,7 k €	+51.0%	56,1 k €	-10.5%	62,7 k €	+15.6%	54,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 7 ended

Active mandates

Dominique Vaes

Director

Active

Fabian Brans

Director

Active

Jean-Pierre Brans

Director

Active

Ended mandates

Jean-Pierre Brans

Manager · since 01 avril 2006

Ended

Dominique Vaes

Manager

Ended

Fabian Brans

Manager

Ended

Fabien Brans

Director · until 28 décembre 2020

Ended

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	09/09/2026	30/08/2025	31/10/2024	25/08/2023	26/08/2022	18/08/2021
General meeting	02/09/2026	19/08/2025	07/10/2024	09/05/2023	10/05/2022	11/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro modelCorrection	31/12/2025	02/09/2026	09/09/2026	French	PDF
Micro model	31/12/2025	26/08/2026	31/08/2026	French	PDF
Micro model	31/12/2024	19/08/2025	30/08/2025	French	PDF
Micro model	31/12/2023	07/10/2024	31/10/2024	French	PDF
Micro model	31/12/2022	09/05/2023	25/08/2023	French	PDF
Micro model	31/12/2021	10/05/2022	26/08/2022	French	PDF
Micro model	31/12/2020	11/05/2021	18/08/2021	French	PDF
Micro model	31/12/2019	12/05/2020	18/08/2020	French	PDF
Abridged model	31/12/2018	30/06/2019	17/07/2019	French	PDF
Abridged model	31/12/2017	30/06/2018	17/07/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	27/07/2017	French	PDF
Abridged model	31/12/2015	31/03/2016	25/05/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	24/07/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	16/07/2014	French	PDF
Abridged model	31/12/2012	10/05/2013	12/05/2013	French	PDF
Abridged model	31/12/2011	20/06/2012	15/07/2012	French	PDF
Abridged model	31/12/2010	16/06/2011	18/06/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	23/07/2010	French	PDF
Abridged model	31/12/2008	06/04/2009	16/04/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	22/07/2008	French	PDF
Abridged model	31/12/2006	27/06/2007	12/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 3 active · 7 ended

Active mandates

Dominique Vaes

Director

Active

Fabian Brans

Director

Active

Jean-Pierre Brans

Director

Active

Ended mandates

Jean-Pierre Brans

Manager · since 01 avril 2006

Ended

Dominique Vaes

Manager

Ended

Fabian Brans

Manager

Ended

Fabien Brans

Director · until 28 décembre 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/11/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates03/01/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates23/06/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates13/01/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - ADRESSE AUTRE QUE SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates02/12/2016
DEMISSIONS, NOMINATIONS
PDF
Registered office03/05/2016
SIEGE SOCIAL - OBJET
PDF
Mandates08/08/2006
DEMISSIONS, NOMINATIONS
PDF
Mandates17/12/2004
DEMISSIONS, NOMINATIONS
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 202524 k €↑
2024
Annual accounts 2024-7,3 k €↓
2023
Annual accounts 20236,3 k €↑
2022
Annual accounts 20223,7 k €↓
2021
Annual accounts 202197,8 k €↓
2020
Annual accounts 2020103,1 k €↑
2019
Annual accounts 201948,8 k €↓
2018
Annual accounts 201850,9 k €↑
2017
Annual accounts 201724,7 k €↑
2016
Annual accounts 2016-1,8 k €↓
2015
Annual accounts 201516,7 k €↑
2014
Annual accounts 2014-6,2 k €↓
2013
Annual accounts 201317,6 k €↑
2012
Annual accounts 2012-30,6 k €↓
2011
Annual accounts 2011-8,4 k €↓
2010
Annual accounts 20107,2 k €↑
2009
Annual accounts 2009-3,8 k €↓
2008
Annual accounts 200822,3 k €
11/04/2003
IncorporationPrivate 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

WAPI

Overview

What does WAPI do?

Trend over 18 financial years

Indicative valuation

Board of directors

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