ACTIVE

SWAF

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Financial year 2025 · closed on 31/12/2025

Net result

22,2 k €

-24.8% YoY

Gross margin

318,8 k €

+0.0% YoY

Equity

92,4 k €

+31.6% YoY

Workforce

4,8 ETP

+2.1% YoY

What does SWAF do?

SWAF is a Private company with limited liability incorporated in 2005. Its registered office is in Dilbeek. It employs on average 4,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0873.767.090

Incorporation

12/05/2005

Legal form

Private company with limited liability

Registered office

Kaudenaardestraat 71
1700 Dilbeek · FlandreSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Average workforce

4,8 ETP

Joint committees (1)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

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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	318,8 k €	+0.0%	318,8 k €	+22.3%	260,6 k €	-6.3%	278,1 k €	+44.6%	192,4 k €	+20.8%	159,2 k €	+16.0%	137,3 k €	+2.3%	134,2 k €	+1.4%	132,4 k €	+158%	51,2 k €	+30.8%	39,2 k €	-15.6%	46,4 k €	-27.6%	64 k €	+17.3%	54,6 k €	+1.7%	53,7 k €	-31.9%	78,8 k €	+17.9%	66,8 k €	+9.3%	61,1 k €	-10.9%	68,6 k €	-1.9%	69,9 k €
EBITDA	101,9 k €	-10.1%	113,3 k €	+71.8%	66 k €	-36.0%	103,1 k €	+27.6%	80,8 k €	+3.3%	78,2 k €	+103%	38,6 k €	-32.5%	57,1 k €	+19.1%	48 k €	+924%	-5,8 k €	-151%	11,5 k €	-26.0%	15,5 k €	-47.5%	29,6 k €	+8.5%	27,3 k €	-30.7%	39,3 k €	+0.4%	39,2 k €	-1.4%	39,7 k €	+33.3%	29,8 k €	-11.7%	33,8 k €	-29.5%	47,9 k €
Operating result	36,7 k €	-12.4%	41,9 k €	+794%	-6 k €	-112%	50,2 k €	+144%	20,6 k €	-18.5%	25,2 k €	+306%	-12,2 k €	-177%	16 k €	+150%	6,4 k €	+162%	-10,4 k €	-251%	6,9 k €	+140%	2,9 k €	+4.4%	2,7 k €	-37.6%	4,4 k €	-72.6%	16 k €	-12.4%	18,3 k €	+75.6%	10,4 k €	+425%	-3,2 k €	-645%	588 €	-88.2%	5 k €
Net result	22,2 k €	-24.8%	29,5 k €	+256%	-18,9 k €	-162%	30,5 k €	+604%	4,3 k €	-71.8%	15,4 k €	+204%	-14,8 k €	-225%	11,8 k €	+311%	2,9 k €	+125%	-11,3 k €	-377%	4,1 k €	+1105%	338 €	+412%	66 €	-86.4%	485 €	-94.4%	8,7 k €	-29.8%	12,4 k €	+271%	3,4 k €	+133%	-10,2 k €	-51.2%	-6,7 k €	-64.2%	-4,1 k €
Balance sheet
Equity	92,4 k €	+31.6%	70,2 k €	+72.3%	40,7 k €	-31.7%	59,7 k €	+104%	29,2 k €	+17.4%	24,8 k €	+162%	9,5 k €	-60.9%	24,2 k €	+94.6%	12,5 k €	+29.9%	9,6 k €	-54.1%	20,9 k €	+24.3%	16,8 k €	+2.1%	16,5 k €	+0.4%	16,4 k €	+3.0%	15,9 k €	+122%	7,2 k €	+236%	-5,3 k €	+38.9%	-8,6 k €	-649%	1,6 k €	-81.1%	8,3 k €
Total assets	414 k €	-6.9%	444,4 k €	-15.2%	524 k €	+54.1%	340 k €	+6.5%	319,3 k €	+3.5%	308,4 k €	-9.3%	339,9 k €	+17.8%	288,5 k €	-6.1%	307,3 k €	+61.2%	190,6 k €	+256%	53,5 k €	-3.6%	55,5 k €	-11.9%	63 k €	-24.0%	82,9 k €	-15.5%	98,1 k €	-22.6%	126,8 k €	+4.9%	120,8 k €	-11.2%	136,1 k €	-22.6%	175,8 k €	+7.3%	163,9 k €
Cash	132,6 k €	+1.3%	130,9 k €	+19.5%	109,5 k €	+23.3%	88,8 k €	+112%	42 k €	+122%	18,9 k €	+38.5%	13,6 k €	-32.6%	20,2 k €	+122%	9,1 k €	-0.2%	9,1 k €	-68.8%	29,3 k €	-9.6%	32,4 k €	+15.8%	28 k €	-39.2%	46 k €	+19.4%	38,5 k €	-30.8%	55,7 k €	+49.0%	37,4 k €	+92.4%	19,4 k €	-25.3%	26 k €	+61.9%	16,1 k €
Debts	306,1 k €	-15.3%	361,3 k €	-22.4%	465,7 k €	+71.1%	272,2 k €	-4.0%	283,5 k €	+1.8%	278,4 k €	-14.8%	326,8 k €	+24.7%	262 k €	-10.8%	293,7 k €	+62.3%	181 k €	+468%	31,8 k €	-16.1%	37,9 k €	-18.5%	46,6 k €	-29.2%	65,7 k €	-19.2%	81,4 k €	-25.8%	109,6 k €	-12.5%	125,3 k €	-13.4%	144,7 k €	-17.0%	174,2 k €	+12.0%	155,6 k €
Other
Workforce	4,8 ETP	+2.1%	4,7 ETP	0.0%	4,7 ETP		–		–		–		–		–		–		–		0,6 ETP	-40.0%	1,0 ETP	-37.5%	1,6 ETP	+77.8%	0,9 ETP	0.0%	0,9 ETP	-10.0%	1,0 ETP	0.0%	1,0 ETP	+25.0%	0,8 ETP	0.0%	0,8 ETP	+33.3%	0,6 ETP

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 · 1 active · 1 ended

Active mandates

FRANCOIS DEVOS

Director

Active

Ended mandates

FRANCOIS DEVOS

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
PleinD● Active	1014.237.740
PleinR● Active	0646.777.687
SWAFTEX● Active	0668.731.163
SWALDO● Active	0738.763.678
VOSTEX● Active	0431.327.722

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged 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	31/08/2026	28/08/2025	28/08/2024	31/08/2023	31/08/2022	30/08/2021
General meeting	17/06/2026	17/06/2025	19/06/2024	21/06/2023	15/06/2022	16/06/2021
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
Abridged model	31/12/2025	17/06/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	28/08/2025	Dutch	PDF
Abridged model	31/12/2023	19/06/2024	28/08/2024	Dutch	PDF
Micro model	31/12/2022	21/06/2023	31/08/2023	Dutch	PDF
Micro model	31/12/2021	15/06/2022	31/08/2022	Dutch	PDF
Micro model	31/12/2020	16/06/2021	30/08/2021	Dutch	PDF
Micro model	31/12/2019	07/09/2020	29/10/2020	Dutch	PDF
Micro model	31/12/2018	19/06/2019	20/08/2019	Dutch	PDF
Micro model	31/12/2017	20/06/2018	24/08/2018	Dutch	PDF
Micro model	31/12/2016	21/06/2017	28/08/2017	Dutch	PDF
Abridged model	31/12/2015	16/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	17/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	18/06/2014	30/08/2014	Dutch	PDF
Abridged model	31/12/2012	19/06/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	20/06/2012	28/08/2012	Dutch	PDF
Abridged model	31/12/2010	15/06/2011	29/08/2011	Dutch	PDF
Abridged model	31/12/2009	16/06/2010	30/08/2010	Dutch	PDF
Abridged model	31/12/2008	17/06/2009	30/08/2009	Dutch	PDF
Abridged model	31/12/2007	18/06/2008	27/08/2008	Dutch	PDF
Abridged model	31/12/2006	20/06/2007	31/08/2007	Dutch	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 · 1 active · 1 ended

Active mandates

FRANCOIS DEVOS

Director

Active

Ended mandates

FRANCOIS DEVOS

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other23/05/2005
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202522,2 k €↓
2024
Annual accounts 202429,5 k €↑
2023
Annual accounts 2023-18,9 k €↓
2022
Annual accounts 202230,5 k €↑
2021
Annual accounts 20214,3 k €↓
2020
Annual accounts 202015,4 k €↑
2019
Annual accounts 2019-14,8 k €↓
2018
Annual accounts 201811,8 k €↑
2017
Annual accounts 20172,9 k €↑
2016
Annual accounts 2016-11,3 k €↓
2015
Annual accounts 20154,1 k €↑
2014
Annual accounts 2014338 €↑
2013
Annual accounts 201366 €↓
2012
Annual accounts 2012485 €↓
2011
Annual accounts 20118,7 k €↓
2010
Annual accounts 201012,4 k €↑
2009
Annual accounts 20093,4 k €↑
2008
Annual accounts 2008-10,2 k €↓
2007
Annual accounts 2007-6,7 k €↓
2006
Annual accounts 2006-4,1 k €
12/05/2005
IncorporationPrivate company with limited liability

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

SWAF

Overview

What does SWAF 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