5 RIVERS
ActiveSummary
The annual accounts of 5 RIVERS for fiscal year 2025 show a net loss of 139% of the equity at the start of that year. The 2025 annual accounts show equity of €1,420 and a net result of -€12,789. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 11547 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▼-47
Solvency26▼-23
Growth42▼-25
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.86 against 1.22 in 2024; short-term debt: 98.8% and cash: 60.6% of total assets), and 98.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
1.2%
Return on assets
-10.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 11547 sector peers (2025).
NBB · sector comparisonPosition among 11547 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-05-2026, 76 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
76 d early
2024
45 d early
2023
33 d late
2022
22 d late
2021
31 d late
2020
37 d late
2019
60 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 9 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 22 August (4 of the last 5 filed years within 67 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€854,975▲ 46.4%
2024 · €583,950
EBIT margin
-1.5%▼ 1.6pp
2024 · 0.2%
Net result
-€12,789
2024 · €687
Working capital
-€16,388
2024 · €6,559
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€428,749▼ 5.5%€632,399€583,950▼ 7.7%€854,975▲ 46.4%
Operating result-€440€1,074-€7,281€916-€12,550
Net result-€1,879within the sector's middle half€210within the sector's middle half-€7,671below the sector's middle half€687within the sector's middle half-€12,789below the sector's middle half
EBIT margin-0.1%▼ 3.7pp-1.2%0.2%▲ 1.3pp-1.5%▼ 1.6pp
Equity€15,984within the sector's middle half▼ 10.5%€16,193within the sector's middle half▲ 1.3%€8,522within the sector's middle half▼ 47.4%€9,209within the sector's middle half▲ 8.1%€1,420below the sector's middle half▼ 84.6%
Total assets€49,161below the sector's middle half▲ 10.5%€43,567below the sector's middle half▼ 11.4%€35,029below the sector's middle half▼ 19.6%€38,661below the sector's middle half▲ 10.4%€120,321within the sector's middle half▲ 211%
Debt€33,177▲ 24.7%€27,374▼ 17.5%€26,506▼ 3.2%€29,452▲ 11.1%€118,901▲ 304%
Working capital€9,462within the sector's middle half▲ 31.2%€7,283within the sector's middle half▼ 23.0%€2,742within the sector's middle half▼ 62.3%€6,559within the sector's middle half▲ 139%-€16,388below the sector's middle half
Solvency32.5%within the sector's middle half▼ 7.6pp37.2%within the sector's middle half▲ 4.7pp24.3%within the sector's middle half▼ 12.8pp23.8%within the sector's middle half▼ 0.5pp1.2%below the sector's middle half▼ 22.6pp
Current ratio1.35within the sector's middle half=1.27within the sector's middle half▼ 0.081.10within the sector's middle half▼ 0.161.22within the sector's middle half▲ 0.120.86below the sector's middle half▼ 0.36
Return on assets (ROA)-3.8%below the sector's middle half▼ 38.8pp0.5%within the sector's middle half▲ 4.3pp-21.9%below the sector's middle half▼ 22.4pp1.8%within the sector's middle half▲ 23.7pp-10.6%below the sector's middle half▼ 12.4pp
Staff (FTE)0.2
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €12,550 after €916 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €120,321
Fixed assets
€17,808 ▲ 572%
Current assets
€102,513 ▲ 185%
Equity and liabilities €120,321
Equity
€1,420 ▼ 84.6%
Debt
€118,901 ▲ 304%
Debt's share of the balance-sheet total rises from 76.2% to 98.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€12,033▼
2024 · €4,046
Cash flow
-€12,273▼
2024 · €3,817
Quick ratio
0.66▲
2024 · 0.48
Debt to equity
83.74▲
2024 · 3.20
ROE
-900.7%▼
2024 · 7.5%
Interest coverage
-50.33▼
2024 · 17.66
Debt ≤ 1 year
€118,901▲
2024 · €29,452
Staff costs
€2,738
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 642 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
3.6%
went bankrupt
5.5%
stopped otherwise
90%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 642 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €428,749 | - | €632,399 | €583,950 | €854,975 | ▲ 46.4% |
| Goods, raw materials, services and sundry goods60/61 | €429,273 | - | €632,988 | €576,821 | €860,442 | ▲ 49.2% |
| Remuneration, social security and pensions62 | - | - | - | - | €2,738 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,130 | €3,747 | €3,130 | €3,130 | €517 | ▼ 83.5% |
| Other operating charges640/8 | €1,065 | €770 | €1,231 | €791 | €5,029 | ▲ 536% |
| Non-recurring operating charges66A | - | €4,802 | €4,802 | €3,492 | - | - |
| Gross operating margin9900 | €4,755 | €10,394 | €1,882 | €8,329 | -€4,267 | ▼ 151% |
| Operating profit (loss)9901 | -€440 | €1,074 | -€7,281 | €916 | -€12,550 | ▼ 1,470% |
| Financial charges65/66B | €390 | €864 | €390 | €229 | €239 | ▲ 4.4% |
| Recurring financial charges65 | €390 | €864 | €390 | €229 | €239 | ▲ 4.4% |
| Profit (loss) for the period before taxes9903 | -€831 | €210 | -€7,671 | €687 | -€12,789 | ▼ 1,961% |
| Income taxes67/77 | €1,048 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€1,879 | €210 | -€7,671 | €687 | -€12,789 | ▼ 1,961% |
| Profit (loss) for the period to be appropriated9905 | -€1,879 | €210 | -€7,671 | €687 | -€12,789 | ▼ 1,961% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €49,161 | €43,567 | €35,029 | €38,661 | €120,321 | ▲ 211% |
| Fixed assets21/28 | €12,657 | €8,910 | €5,780 | €2,650 | €17,808 | ▲ 572% |
| Intangible fixed assets21 | €617 | - | - | - | - | - |
| Tangible fixed assets22/27 | €9,390 | €6,260 | €3,130 | - | €8,383 | - |
| Furniture and vehicles24 | €9,390 | €6,260 | €3,130 | - | €8,383 | - |
| Financial fixed assets28 | €2,650 | €2,650 | €2,650 | €2,650 | €9,425 | ▲ 256% |
| Current assets29/58 | €36,503 | €34,657 | €29,249 | €36,011 | €102,513 | ▲ 185% |
| Stocks and contracts in progress3 | €20,952 | €28,305 | €23,493 | €21,994 | €24,037 | ▲ 9.3% |
| Stocks30/36 | €20,952 | €28,305 | €23,493 | €21,994 | €24,037 | ▲ 9.3% |
| Amounts receivable within one year40/41 | €12,008 | €4,469 | €4,925 | €3,837 | €5,611 | ▲ 46.2% |
| Trade receivables40 | €5,810 | €126 | €113 | - | - | - |
| Other amounts receivable41 | €6,197 | €4,343 | €4,812 | €3,837 | €5,611 | ▲ 46.2% |
| Cash at bank and in hand54/58 | €3,544 | €1,703 | €831 | €10,180 | €72,865 | ▲ 616% |
| Deferred charges and accrued income490/1 | - | €180 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €49,161 | €43,567 | €35,029 | €38,661 | €120,321 | ▲ 211% |
| Equity10/15 | €15,984 | €16,193 | €8,522 | €9,209 | €1,420 | ▼ 84.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €11,200 | ▲ 80.6% |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €7,924 | €8,133 | €462 | €1,149 | -€11,640 | ▼ 1,113% |
| Amounts payable17/49 | €33,177 | €27,374 | €26,506 | €29,452 | €118,901 | ▲ 304% |
| Amounts payable after more than one year17 | €6,135 | - | - | - | - | - |
| Financial debts170/4 | €6,135 | - | - | - | - | - |
| Amounts payable within one year42/48 | €27,042 | €27,374 | €26,506 | €29,452 | €118,901 | ▲ 304% |
| Current portion of amounts payable after more than one year42 | €1,805 | €2,082 | - | - | - | - |
| Trade debts44 | €24,305 | €21,656 | €19,338 | €23,835 | €116,434 | ▲ 389% |
| Suppliers440/4 | €24,305 | €21,656 | €19,338 | €23,835 | €116,434 | ▲ 389% |
| Taxes, remuneration and social security45 | €931 | €2,094 | €5,751 | €5,617 | €1,831 | ▼ 67.4% |
| Taxes450/3 | €931 | €2,094 | €3,751 | €4,375 | €45 | ▼ 99.0% |
| Remuneration and social security454/9 | - | - | €2,000 | €1,242 | €1,786 | ▲ 43.8% |
| Other amounts payable47/48 | - | €1,542 | €1,418 | - | €637 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,879 | €210 | -€7,671 | €687 | -€12,789 | ▼ 1,961% |
| + Depreciation and write-downs630 | €4,130 | €3,747 | €3,130 | €3,130 | €517 | ▼ 83.5% |
| Operating cash flow (approximation) | €2,251 | €3,957 | -€4,541 | €3,817 | -€12,273 | ▼ 422% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€15,675 | - |
| Change in cash | - | -€1,840 | -€873 | €9,349 | €62,685 | ▲ 570% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€12,789
Net result drops to -€12,789, the lowest in the series.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €687
Net result €687 after one loss-making year.
02-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 33 days late
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
31-12
Financial
Back to profitnet €210
Net result €210 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
06-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 37 days late
2020
31-12
Financial
Highest result since 2018net €15,556 ▲3,535%
Operating result €16,510, net result €15,556, both a record.
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 60 days late
2019
31-12
Financial
Back to profitnet €428
Net result €428 after one loss-making year.
08-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 39 days late
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Evergem · 2 establishment units since 2016
Ground area
291 m²
Building footprint
194 m²
Volume, LiDAR
990 m³
2 parcels, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
5 RIVERS
since 20162.256.511.988
5 RIVERS HOFSTADE
since 20252.378.824.634
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43006F0086/00E002 | Flanders | 160 m² | 1 · 125 m² | 7.3 m · 2 fl. |
| 41029A1144/00L000 | Flanders | 131 m² | 1 · 69 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesAalst2.378.824.634
Evergem2.256.511.988
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Of 1,638 companies in sector 46170 we hold annual accounts for 670. 135 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-07-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46170Agents in the wholesale of food, beverages and tobacco
47110Non-specialised retail sale with food, beverages or tobacco predominating
46389Wholesale of other food products
46392Non-specialised wholesale
47789Other retail sale of new goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0660570988
Also
9925:BE0660570988
Registered
18-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.