A+B
ActiveSummary
A+B has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€56,740) and a net result of €5,869. Equity is shrinking by ~23.4% per year across the filed fiscal years. Its solvency ranks better than 14% of 26043 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability46▲+18
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.86 against 1.58 in 2023; short-term debt: 53.7% and cash: 28.6% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 2024Solvency, return and age of the figures
Solvency
-31.5%
Return on assets
3.3%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 26043 sector peers (2024).
NBB · sector comparisonPosition among 26043 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-09-2025, 50 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
50 d late
2023
61 d late
2022
87 d late
2021
60 d late
2020
31 d late
2019
105 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 66 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
-€56,740▲ 9.4%
2023 · -€62,610
Total assets
€179,932▼ 14.7%
2023 · €210,987
Net result
€5,869
2023 · -€8,039
Working capital
€82,954▲ 7.6%
2023 · €77,085
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€14,396-€30,962▼ 115%-€895▲ 97.1%-€4,313▼ 382%€7,628
Net result-€19,522below the sector's middle half-€32,578below the sector's middle half▼ 66.9%-€4,459below the sector's middle half▲ 86.3%-€8,039below the sector's middle half▼ 80.3%€5,869within the sector's middle half
Equity-€17,533below the sector's middle half-€50,112below the sector's middle half▼ 186%-€54,570below the sector's middle half▼ 8.9%-€62,610below the sector's middle half▼ 14.7%-€56,740below the sector's middle half▲ 9.4%
Total assets€237,617within the sector's middle half▲ 2.4%€267,335within the sector's middle half▲ 12.5%€241,089within the sector's middle half▼ 9.8%€210,987within the sector's middle half▼ 12.5%€179,932within the sector's middle half▼ 14.7%
Debt€255,150▲ 10.9%€317,447▲ 24.4%€295,660▼ 6.9%€273,596▼ 7.5%€236,672▼ 13.5%
Working capital€128,379above the sector's middle half▼ 6.5%€98,877above the sector's middle half▼ 23.0%€87,090above the sector's middle half▼ 11.9%€77,085within the sector's middle half▼ 11.5%€82,954within the sector's middle half▲ 7.6%
Solvency-7.4%below the sector's middle half▼ 8.2pp-18.7%below the sector's middle half▼ 11.4pp-22.6%below the sector's middle half▼ 3.9pp-29.7%below the sector's middle half▼ 7.0pp-31.5%below the sector's middle half▼ 1.9pp
Current ratio2.19within the sector's middle half▼ 0.331.59within the sector's middle half▼ 0.601.57within the sector's middle half▼ 0.021.58within the sector's middle half▲ 0.011.86within the sector's middle half▲ 0.28
Return on assets (ROA)-8.2%below the sector's middle half▼ 9.0pp-12.2%below the sector's middle half▼ 4.0pp-1.8%within the sector's middle half▲ 10.3pp-3.8%within the sector's middle half▼ 2.0pp3.3%within the sector's middle half▲ 7.1pp
Staff (FTE)4.5above the sector's middle half5.7▲ 26.7%7▲ 22.8%7.6▲ 8.6%7.6=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail 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 returns to profit in 2024: €7,628 after a loss of €4,313 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €179,932
Fixed assets
€305 =
Current assets
€179,626 ▼ 14.7%
Key figures and ratios
Quick ratio
0.74▲
2023 · 0.48
Debt to equity
-4.17▲
2023 · -4.37
Debt ≤ 1 year
€96,672▼
2023 · €133,596
Debt > 1 year
€140,000=
2023 · €140,000
Staff costs
€76,923▼
2023 · €77,641
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,379 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
2.4%
went bankrupt
3.2%
stopped otherwise
94%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 497,338 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% | 1.9% |
| 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 1,379 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €61,932 | €82,771 | €77,641 | €76,923 | ▼ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,212 | €602 | €602 | - | - | - |
| Other operating charges640/8 | - | €662 | €446 | €486 | €511 | ▲ 5.2% |
| Non-recurring operating charges66A | - | - | €6,070 | €6,400 | - | - |
| Gross operating margin9900 | €25,735 | €32,233 | €88,995 | €80,214 | €85,063 | ▲ 6.0% |
| Operating profit (loss)9901 | -€14,396 | -€30,962 | -€895 | -€4,313 | €7,628 | ▲ 277% |
| Financial income75/76B | - | €22 | €0 | €57 | €278 | ▲ 386% |
| Recurring financial income75 | €2 | €22 | €0 | €57 | €278 | ▲ 386% |
| Financial charges65/66B | - | €1,402 | €3,565 | €1,783 | €2,037 | ▲ 14.2% |
| Recurring financial charges65 | €4,892 | €1,402 | €3,565 | €1,783 | €2,037 | ▲ 14.2% |
| Profit (loss) for the period before taxes9903 | -€19,287 | -€32,343 | -€4,459 | -€6,039 | €5,869 | ▲ 197% |
| Income taxes67/77 | €236 | €236 | - | €2,000 | - | - |
| Profit (loss) for the period9904 | -€19,522 | -€32,578 | -€4,459 | -€8,039 | €5,869 | ▲ 173% |
| Profit (loss) for the period to be appropriated9905 | -€19,522 | -€32,578 | -€4,459 | -€8,039 | €5,869 | ▲ 173% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €237,617 | €267,335 | €241,089 | €210,987 | €179,932 | ▼ 14.7% |
| Fixed assets21/28 | €1,510 | €908 | €305 | €305 | €305 | = |
| Tangible fixed assets22/27 | €1,205 | €602 | - | - | - | - |
| Plant, machinery and equipment23 | - | €303 | - | - | - | - |
| Furniture and vehicles24 | - | €299 | - | - | - | - |
| Financial fixed assets28 | €305 | €305 | €305 | €305 | €305 | = |
| Current assets29/58 | €236,107 | €266,427 | €240,784 | €210,681 | €179,626 | ▼ 14.7% |
| Stocks and contracts in progress3 | €137,828 | €157,609 | €156,235 | €146,121 | €108,543 | ▼ 25.7% |
| Stocks30/36 | - | €157,609 | €156,235 | €146,121 | €108,543 | ▼ 25.7% |
| Amounts receivable within one year40/41 | €27,470 | €29,362 | €12,764 | €15,233 | €16,658 | ▲ 9.4% |
| Trade receivables40 | - | €13,322 | €12,753 | €15,233 | €16,658 | ▲ 9.4% |
| Other amounts receivable41 | - | €16,040 | €11 | - | - | - |
| Cash at bank and in hand54/58 | €67,632 | €69,090 | €61,785 | €45,220 | €51,514 | ▲ 13.9% |
| Deferred charges and accrued income490/1 | - | €10,367 | €10,001 | €4,107 | €2,912 | ▼ 29.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €237,617 | €267,335 | €241,089 | €210,987 | €179,932 | ▼ 14.7% |
| Equity10/15 | -€17,533 | -€50,112 | -€54,570 | -€62,610 | -€56,740 | ▲ 9.4% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Capital10 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Issued capital100 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Non-distributable reserves130/1 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Legal reserve130 | - | €5,000 | €5,000 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€72,533 | -€105,112 | -€109,570 | -€117,610 | -€111,740 | ▲ 5.0% |
| Amounts payable17/49 | €255,150 | €317,447 | €295,660 | €273,596 | €236,672 | ▼ 13.5% |
| Amounts payable after more than one year17 | €140,000 | €140,000 | €140,000 | €140,000 | €140,000 | = |
| Financial debts170/4 | - | €140,000 | €140,000 | €140,000 | €140,000 | = |
| Amounts payable within one year42/48 | €107,728 | €167,551 | €153,694 | €133,596 | €96,672 | ▼ 27.6% |
| Trade debts44 | €45,404 | €92,748 | €80,870 | €55,741 | €36,181 | ▼ 35.1% |
| Suppliers440/4 | - | €92,748 | €80,870 | €55,741 | €36,181 | ▼ 35.1% |
| Taxes, remuneration and social security45 | - | €62,640 | €70,344 | €73,147 | €60,213 | ▼ 17.7% |
| Taxes450/3 | - | €38,975 | €70,344 | €51,969 | €43,744 | ▼ 15.8% |
| Remuneration and social security454/9 | - | €23,665 | - | €21,178 | €16,469 | ▼ 22.2% |
| Other amounts payable47/48 | - | €12,163 | €2,480 | €4,708 | €278 | ▼ 94.1% |
| Accrued charges and deferred income492/3 | - | €9,896 | €1,965 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,522 | -€32,578 | -€4,459 | -€8,039 | €5,869 | ▲ 173% |
| + Depreciation and write-downs630 | €3,212 | €602 | €602 | - | - | - |
| Operating cash flow (approximation) | -€16,310 | -€31,976 | -€3,856 | -€8,039 | €5,869 | ▲ 173% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1,457 | -€7,304 | -€16,565 | €6,294 | ▲ 138% |
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
2025
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 50 days late
2024
31-12
Financial
Back to profitnet €5,869
Net result €5,869 after 4 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 87 days late
2022
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
2021
31-12
Financial
Weakest financial yearnet -€32,578
Net result drops to -€32,578, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 105 days late
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 90 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Waterloo · 1 establishment unit since 2010
Ground area
1,273 m²
Building footprint
1,069 m²
Volume, LiDAR
12,507 m³
Parcel 25763L0424/00D000, Wallonia · tallest building 13.0 m, ±4 floors. Linked by address, not a title deed.
143
companies at this address
See who is registered here
1 establishment unit
ZORA
since 20102.184.675.273
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763L0424/00D000 | Wallonia | 1,273 m² | 1 · 1,069 m² | 13.0 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,394 companies in sector 47784 we hold annual accounts for 429. 86 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
Founded08-10-2009
Fiscal year end31-12
Activities, NACEBEL 2025
47770Retail sale of watches and jewellery
47784Retail sale of souvenirs and religious articles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819457978
Also
9925:BE0819457978
Registered
27-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.