AERNOUTS
ActiveSummary
AERNOUTS has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€38,412) and a net result of -€10,866. Equity is shrinking by ~49.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 805 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.39 against 0.52 in 2023; short-term debt: 185.1% and cash: 5.4% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-85.1%
Return on assets
-24.1%
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€38,412
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
43 d early
2022
40 d early
2021
31 d early
2020
37 d early
2019
6 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 29 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#10 oldest company in Ravels, Manufacturing sector
Equity
-€38,412▼ 39.4%
2023 · -€27,545
Total assets
€45,152▼ 26.2%
2023 · €61,219
Net result
-€10,866▲ 56.3%
2023 · -€24,881
Working capital
-€51,363▼ 20.8%
2023 · -€42,503
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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-€23,894€11,758-€16,487-€20,255▼ 22.9%-€7,030▲ 65.3%
Net result-€29,150below the sector's middle half€2,350below the sector's middle half-€20,749below the sector's middle half-€24,881below the sector's middle half▼ 19.9%-€10,866below the sector's middle half▲ 56.3%
Equity€15,735below the sector's middle half▼ 64.9%€18,085below the sector's middle half▲ 14.9%-€2,664below the sector's middle half-€27,545below the sector's middle half▼ 934%-€38,412below the sector's middle half▼ 39.4%
Total assets€112,603below the sector's middle half▼ 11.8%€120,096below the sector's middle half▲ 6.7%€95,195below the sector's middle half▼ 20.7%€61,219below the sector's middle half▼ 35.7%€45,152below the sector's middle half▼ 26.2%
Debt€96,868▲ 17.1%€102,011▲ 5.3%€97,860▼ 4.1%€88,764▼ 9.3%€83,563▼ 5.9%
Working capital€3,599▼ 84.4%-€1,416-€18,363▼ 1,197%-€42,503▼ 131%-€51,363▼ 20.8%
Solvency14.0%below the sector's middle half▼ 21.2pp15.1%below the sector's middle half▲ 1.1pp-2.8%below the sector's middle half▼ 17.9pp-45.0%below the sector's middle half▼ 42.2pp-85.1%below the sector's middle half▼ 40.1pp
Staff (FTE)5.6within the sector's middle half▼ 8.2%4.8within the sector's middle half▼ 14.3%4.5within the sector's middle half▼ 6.3%3.9within the sector's middle half▼ 13.3%2.4below the sector's middle half▼ 38.5%
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,030 in 2024 against €20,255 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €45,152
Fixed assets
€12,951 ▼ 13.4%
Current assets
€32,201 ▼ 30.4%
Key figures and ratios
EBITDA
-€5,024▲
2023 · -€18,154
Cash flow
-€8,860▲
2023 · -€22,780
Current ratio
0.39▼
2023 · 0.52
Quick ratio
0.05▼
2023 · 0.10
Debt to equity
-2.18▲
2023 · -3.22
ROA
-24.1%▲
2023 · -40.6%
Interest coverage
-1.20▲
2023 · -3.59
Debt ≤ 1 year
€83,563▼
2023 · €88,764
Income taxes
€216▲
2023 · €213
Staff costs
€88,866▼
2023 · €149,115
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 6,640 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €14,000 | - | €17,522 | - | - |
| Remuneration, social security and pensions62 | - | €146,417 | €154,839 | €149,115 | €88,866 | ▼ 40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,205 | €3,272 | €5,015 | €2,101 | €2,006 | ▼ 4.5% |
| Other operating charges640/8 | - | €1,773 | €2,065 | €1,449 | €932 | ▼ 35.7% |
| Non-recurring operating charges66A | - | - | - | €1,755 | - | - |
| Gross operating margin9900 | €170,611 | €163,219 | €145,432 | €134,165 | €84,774 | ▼ 36.8% |
| Operating profit (loss)9901 | -€23,894 | €11,758 | -€16,487 | -€20,255 | -€7,030 | ▲ 65.3% |
| Financial income75/76B | - | €706 | €559 | €639 | €558 | ▼ 12.8% |
| Recurring financial income75 | €1,013 | €706 | €559 | €639 | €558 | ▼ 12.8% |
| Financial charges65/66B | - | €4,517 | €4,277 | €5,052 | €4,178 | ▼ 17.3% |
| Recurring financial charges65 | €3,873 | €4,517 | €4,277 | €5,052 | €4,178 | ▼ 17.3% |
| Profit (loss) for the period before taxes9903 | -€26,755 | €7,947 | -€20,205 | -€24,668 | -€10,651 | ▲ 56.8% |
| Income taxes67/77 | €2,395 | €5,597 | €544 | €213 | €216 | ▲ 1.0% |
| Profit (loss) for the period9904 | -€29,150 | €2,350 | -€20,749 | -€24,881 | -€10,866 | ▲ 56.3% |
| Profit (loss) for the period to be appropriated9905 | -€24,750 | €2,350 | -€20,749 | -€24,881 | -€10,866 | ▲ 56.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €112,603 | €120,096 | €95,195 | €61,219 | €45,152 | ▼ 26.2% |
| Fixed assets21/28 | €12,136 | €19,500 | €15,699 | €14,957 | €12,951 | ▼ 13.4% |
| Tangible fixed assets22/27 | €11,888 | €19,252 | €15,451 | €12,444 | €10,438 | ▼ 16.1% |
| Land and buildings22 | - | €1,132 | €247 | - | - | - |
| Plant, machinery and equipment23 | - | €18,120 | €15,204 | €12,444 | €10,438 | ▼ 16.1% |
| Financial fixed assets28 | €248 | €248 | €248 | €2,513 | €2,513 | = |
| Current assets29/58 | €100,467 | €100,595 | €79,497 | €46,262 | €32,201 | ▼ 30.4% |
| Stocks and contracts in progress3 | €40,100 | €37,095 | €37,422 | €36,976 | €28,174 | ▼ 23.8% |
| Stocks30/36 | - | €37,095 | €37,422 | €36,976 | €28,174 | ▼ 23.8% |
| Amounts receivable within one year40/41 | €2,892 | €4,446 | €3,828 | €1,705 | €1,211 | ▼ 29.0% |
| Trade receivables40 | - | €1,871 | €1,619 | €1,705 | €486 | ▼ 71.5% |
| Other amounts receivable41 | - | €2,575 | €2,209 | - | €725 | - |
| Cash at bank and in hand54/58 | €57,127 | €56,555 | €38,247 | €7,581 | €2,425 | ▼ 68.0% |
| Deferred charges and accrued income490/1 | - | €2,500 | - | - | €390 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €112,603 | €120,096 | €95,195 | €61,219 | €45,152 | ▼ 26.2% |
| Equity10/15 | €15,735 | €18,085 | -€2,664 | -€27,545 | -€38,412 | ▼ 39.4% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €52,404 | €52,404 | €52,404 | €52,404 | €2,000 | ▼ 96.2% |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | €50,404 | €50,404 | €50,404 | - | - |
| Profit (loss) carried forward14 | -€56,669 | -€54,319 | -€75,068 | -€99,949 | -€60,412 | ▲ 39.6% |
| Amounts payable17/49 | €96,868 | €102,011 | €97,860 | €88,764 | €83,563 | ▼ 5.9% |
| Amounts payable within one year42/48 | €96,868 | €102,011 | €97,860 | €88,764 | €83,563 | ▼ 5.9% |
| Current portion of amounts payable after more than one year42 | - | €12,217 | €8,841 | €1,545 | - | - |
| Trade debts44 | €55,840 | €55,729 | €40,309 | €27,250 | €28,363 | ▲ 4.1% |
| Suppliers440/4 | - | €55,729 | €40,309 | €27,250 | €28,363 | ▲ 4.1% |
| Taxes, remuneration and social security45 | - | €17,925 | €30,350 | €32,242 | €18,710 | ▼ 42.0% |
| Taxes450/3 | - | €2,175 | €2,604 | €1,157 | €418 | ▼ 63.8% |
| Remuneration and social security454/9 | - | €15,750 | €27,746 | €31,085 | €18,292 | ▼ 41.2% |
| Other amounts payable47/48 | - | €16,140 | €18,359 | €27,728 | €36,490 | ▲ 31.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€29,150 | €2,350 | -€20,749 | -€24,881 | -€10,866 | ▲ 56.3% |
| + Depreciation and write-downs630 | €5,205 | €3,272 | €5,015 | €2,101 | €2,006 | ▼ 4.5% |
| Operating cash flow (approximation) | -€23,945 | €5,622 | -€15,734 | -€22,780 | -€8,860 | ▲ 61.1% |
| Investment in fixed assets (approximation) | - | -€10,636 | -€1,213 | -€1,360 | €0 | ▲ 100% |
| Change in cash | - | -€572 | -€18,308 | -€30,666 | -€5,156 | ▲ 83.2% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €2,350
Net result €2,350 after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€29,150
Net result drops to -€29,150, the lowest in the series; recovery starts the following year.
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 6 days late
2019
31-12
Financial
Highest result since 2018net €16,436 ▲981%
Operating result €16,214, net result €16,436, both a record.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
22-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
22-06
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Ravels · 1 establishment unit since 1989
Ground area
558 m²
Building footprint
160 m²
Volume, LiDAR
810 m³
Parcel 13033B0542/00N000, Flanders · tallest building 10.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
AERNOUTS
since 19892.045.080.001
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13033B0542/00N000 | Flanders | 558 m² | 1 · 160 m² | 10.0 m · 1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteRavels2.045.080.001
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 1,213 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
Founded20-09-1989
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438366556
Also
9925:BE0438366556
Registered
04-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.