AQUALITY
ActiveSummary
AQUALITY has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.6m and a net result of €380,822. Equity is growing by ~45.3% per year across the filed fiscal years. Its solvency ranks better than 18% of 5998 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability60▼-2
Solvency39▲+4
Growth85▲+7
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity short (current ratio 0.98 against 0.95 in 2023; short-term debt: 69.2% and cash: 2.9% of total assets), and 86.1% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
13.9%
Return on assets
3.4%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 5998 sector peers (2024).
NBB · sector comparisonPosition among 5998 sector peers
Solvency
better than 18%
← weakest
strongest →
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 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
36 d early
2022
129 d early
2021
37 d early
2020
52 d early
2019
35 d early
← 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 53 days before 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 (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#1 fastest grower in Bruges, Wholesale and retail trade sector#6 employer in Bruges, Wholesale and retail trade sector
Turnover
€41.8m▲ 24.5%
2023 · €33.6m
EBIT margin
1.8%▼ 0.5pp
2023 · 2.4%
Net result
€380,822▼ 38.9%
2023 · €623,442
Working capital
-€168,154▲ 57.7%
2023 · -€397,222
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€33.6m€41.8m▲ 24.5%
Operating result€516,896€113,716▼ 78.0%€197,235▲ 73.4%€789,792▲ 300%€758,583▼ 4.0%
Net result€354,591€11,854▼ 96.7%€131,132▲ 1,006%€623,442▲ 375%€380,822▼ 38.9%
EBIT margin2.4%1.8%▼ 0.5pp
Equity€288,055▲ 20.2%€299,909▲ 4.1%€431,041▲ 43.7%€1.1m▲ 151%€1.6m▲ 43.3%
Total assets€2.6m▲ 39.9%€4.5m▲ 73.7%€5.5m▲ 24.0%€10.4m▲ 87.5%€11.1m▲ 7.1%
Debt€2.3m▲ 42.9%€4.2m▲ 82.4%€5.1m▲ 22.6%€9.2m▲ 80.3%€9.5m▲ 3.0%
Working capital€56,444▼ 89.5%€146,059▲ 159%-€617,816-€397,222▲ 35.7%-€168,154▲ 57.7%
Staff (FTE)25▲ 71.2%38.1▲ 52.4%48.4▲ 27.0%71.6▲ 47.9%81.9▲ 14.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 4% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €11.1m
Fixed assets
€3.6m ▲ 26.8%
Current assets
€7.5m ▼ 0.3%
Equity and liabilities €11.1m
Equity
€1.6m ▲ 43.3%
Provisions
€81,649 ▼ 13.1%
Debt
€9.5m ▲ 3.0%
Debt's share of the balance-sheet total falls from 88.7% to 85.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.3m▲
2023 · €1.1m
Cash flow
€950,352▼
2023 · €958,118
Current ratio
0.98▲
2023 · 0.95
Quick ratio
0.85▲
2023 · 0.84
Debt to equity
6.13▼
2023 · 8.53
ROE
24.6%▼
2023 · 57.6%
ROA
3.4%▼
2023 · 6.0%
Interest coverage
6.61▼
2023 · 8.44
Debt ≤ 1 year
€7.7m▼
2023 · €8.0m
Debt > 1 year
€1.8m▲
2023 · €1.3m
Income taxes
€242,374▲
2023 · €144,366
Staff costs
€4.9m▲
2023 · €3.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €34.2m | €42.1m | ▲ 23.2% |
| Turnover70 | - | - | - | €33.6m | €41.8m | ▲ 24.5% |
| Other operating income74 | - | - | - | €169,435 | €273,573 | ▲ 61.5% |
| Non-recurring operating income76A | - | €125,779 | €0 | €420,095 | €0 | ▼ 100% |
| Operating charges60/66A | - | - | - | €33.4m | €41.3m | ▲ 23.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €24.6m | €30.6m | ▲ 24.5% |
| Purchases600/8 | - | - | - | €24.8m | €30.7m | ▲ 23.9% |
| Change in stocks: decrease (increase)609 | - | - | - | -€203,434 | -€115,479 | ▲ 43.2% |
| Services and other goods61 | - | - | - | €4.3m | €5.0m | ▲ 15.5% |
| Remuneration, social security and pensions62 | - | €1.6m | €2.5m | €3.9m | €4.9m | ▲ 25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €164,518 | €172,022 | €165,528 | €334,676 | €569,530 | ▲ 70.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€7,336 | €17,631 | €137,582 | €50,453 | ▼ 63.3% |
| Other operating charges640/8 | - | €14,415 | €28,423 | €73,206 | €206,562 | ▲ 182% |
| Non-recurring operating charges66A | - | €15,857 | €5,224 | €1,277 | €0 | ▼ 100% |
| Gross operating margin9900 | €2.9m | €1.9m | €2.9m | - | - | - |
| Operating profit (loss)9901 | €516,896 | €113,716 | €197,235 | €789,792 | €758,583 | ▼ 4.0% |
| Financial income75/76B | - | €18,037 | €23,996 | €226,441 | €77,087 | ▼ 66.0% |
| Recurring financial income75 | €37,750 | €4,037 | €23,996 | €46,328 | €77,087 | ▲ 66.4% |
| Income from financial fixed assets750 | - | - | - | €19,973 | €0 | ▼ 100% |
| Income from current assets751 | - | - | - | €7,286 | €15,317 | ▲ 110% |
| Other financial income752/9 | - | - | - | €19,068 | €61,771 | ▲ 224% |
| Non-recurring financial income76B | - | €14,000 | - | €180,113 | €0 | ▼ 100% |
| Financial charges65/66B | - | €45,115 | €47,537 | €166,445 | €224,731 | ▲ 35.0% |
| Recurring financial charges65 | €60,359 | €45,115 | €42,926 | €166,445 | €224,731 | ▲ 35.0% |
| Debt charges650 | - | - | - | €133,288 | €200,863 | ▲ 50.7% |
| Other financial charges652/9 | - | - | - | €33,157 | €23,868 | ▼ 28.0% |
| Non-recurring financial charges66B | - | - | €4,611 | - | - | - |
| Profit (loss) for the period before taxes9903 | €494,287 | €86,638 | €173,694 | €849,788 | €610,939 | ▼ 28.1% |
| Transfer from deferred taxes780 | - | - | - | €27,544 | €12,257 | ▼ 55.5% |
| Transfer to deferred taxes680 | - | - | - | €109,524 | €0 | ▼ 100% |
| Income taxes67/77 | €139,696 | €74,784 | €42,562 | €144,366 | €242,374 | ▲ 67.9% |
| Taxes670/3 | - | - | - | €144,366 | €242,374 | ▲ 67.9% |
| Profit (loss) for the period9904 | €354,591 | €11,854 | €131,132 | €623,442 | €380,822 | ▼ 38.9% |
| Transfer from tax-exempt reserves789 | - | - | - | €74,683 | €36,770 | ▼ 50.8% |
| Transfer to tax-exempt reserves689 | - | - | - | €328,572 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €354,591 | €11,854 | €131,132 | €369,554 | €417,592 | ▲ 13.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €4.5m | €5.5m | €10.4m | €11.1m | ▲ 7.1% |
| Fixed assets21/28 | €914,959 | €1.3m | €1.7m | €2.8m | €3.6m | ▲ 26.8% |
| Intangible fixed assets21 | €173,206 | €147,677 | €623,358 | €1.6m | €1.4m | ▼ 11.7% |
| Tangible fixed assets22/27 | €683,642 | €1.1m | €977,930 | €1.2m | €2.1m | ▲ 81.3% |
| Plant, machinery and equipment23 | - | €93,281 | €76,555 | €93,515 | €248,547 | ▲ 166% |
| Furniture and vehicles24 | - | €123,701 | €86,468 | €119,553 | €128,139 | ▲ 7.2% |
| Leasing and similar rights25 | - | - | - | €192,121 | €889,618 | ▲ 363% |
| Other tangible fixed assets26 | - | €844,085 | €814,907 | €756,083 | €838,758 | ▲ 10.9% |
| Financial fixed assets28 | €58,111 | €58,111 | €58,500 | €124,553 | €121,603 | ▼ 2.4% |
| Other financial fixed assets284/8 | - | - | - | €124,553 | €121,603 | ▼ 2.4% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €124,553 | €121,603 | ▼ 2.4% |
| Current assets29/58 | €1.7m | €3.2m | €3.9m | €7.6m | €7.5m | ▼ 0.3% |
| Stocks and contracts in progress3 | €238,405 | €661,061 | €613,281 | €895,186 | €1.0m | ▲ 12.9% |
| Stocks30/36 | - | €661,061 | €613,281 | €895,186 | €1.0m | ▲ 12.9% |
| Raw materials and consumables30/31 | - | - | - | €15,000 | €15,000 | = |
| Goods purchased for resale34 | - | - | - | €880,186 | €995,665 | ▲ 13.1% |
| Amounts receivable within one year40/41 | €1.1m | €2.2m | €2.9m | €6.1m | €6.2m | ▲ 1.6% |
| Trade receivables40 | - | €1.8m | €2.8m | €5.5m | €5.5m | ▼ 1.0% |
| Other amounts receivable41 | - | €445,138 | €144,592 | €553,810 | €705,694 | ▲ 27.4% |
| Cash at bank and in hand54/58 | €306,275 | €301,841 | €362,939 | €578,998 | €319,038 | ▼ 44.9% |
| Deferred charges and accrued income490/1 | - | €11,192 | €10,391 | €5,460 | €27,942 | ▲ 412% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €4.5m | €5.5m | €10.4m | €11.1m | ▲ 7.1% |
| Equity10/15 | €288,055 | €299,909 | €431,041 | €1.1m | €1.6m | ▲ 43.3% |
| Contributions10/11 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Capital10 | - | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Issued capital100 | - | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Reserves13 | €37,737 | €37,737 | €37,737 | €319,455 | €282,685 | ▼ 11.5% |
| Non-distributable reserves130/1 | - | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Legal reserve130 | - | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Tax-exempt reserves132 | - | €21,250 | €21,250 | €302,968 | €266,198 | ▼ 12.1% |
| Distributable reserves133 | - | €1,487 | €1,487 | €1,487 | €1,487 | = |
| Profit (loss) carried forward14 | €100,318 | €112,172 | €243,303 | €612,857 | €1.0m | ▲ 68.1% |
| Investment grants15 | - | - | - | - | €87,768 | - |
| Provisions and deferred taxes16 | - | - | - | €93,906 | €81,649 | ▼ 13.1% |
| Deferred taxes168 | - | - | - | €93,906 | €81,649 | ▼ 13.1% |
| Amounts payable17/49 | €2.3m | €4.2m | €5.1m | €9.2m | €9.5m | ▲ 3.0% |
| Amounts payable after more than one year17 | €683,348 | €1.1m | €610,931 | €1.3m | €1.8m | ▲ 41.3% |
| Financial debts170/4 | - | €1.1m | €610,931 | €1.3m | €1.8m | ▲ 41.3% |
| Subordinated loans170 | - | - | - | €200,000 | €200,000 | = |
| Leasing and similar obligations172 | - | - | - | €154,879 | €722,298 | ▲ 366% |
| Credit institutions173 | - | - | - | €794,797 | €783,816 | ▼ 1.4% |
| Other loans174 | - | - | - | €115,000 | €80,760 | ▼ 29.8% |
| Amounts payable within one year42/48 | €1.6m | €3.1m | €4.5m | €8.0m | €7.7m | ▼ 3.2% |
| Current portion of amounts payable after more than one year42 | - | €473,923 | €335,468 | €512,664 | €836,097 | ▲ 63.1% |
| Financial debts43 | - | €390,000 | €911,884 | €2.1m | €960,910 | ▼ 53.6% |
| Credit institutions430/8 | - | €390,000 | €911,884 | €2.1m | €960,910 | ▼ 53.6% |
| Trade debts44 | €862,438 | €1.7m | €2.3m | €4.4m | €4.6m | ▲ 5.9% |
| Suppliers440/4 | - | €1.7m | €2.3m | €4.4m | €4.6m | ▲ 5.9% |
| Taxes, remuneration and social security45 | - | €430,556 | €593,155 | €1.0m | €1.3m | ▲ 27.8% |
| Taxes450/3 | - | €164,443 | €234,380 | €426,338 | €660,348 | ▲ 54.9% |
| Remuneration and social security454/9 | - | €266,113 | €358,775 | €576,338 | €621,364 | ▲ 7.8% |
| Other amounts payable47/48 | - | €102,866 | €319,039 | €32 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €26,173 | - | - | €9,773 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €354,591 | €11,854 | €131,132 | €623,442 | €380,822 | ▼ 38.9% |
| + Depreciation and write-downs630 | €164,518 | €172,022 | €165,528 | €334,676 | €569,530 | ▲ 70.2% |
| Operating cash flow (approximation) | €519,109 | €183,876 | €296,660 | €958,118 | €950,352 | ▼ 0.8% |
| Investment in fixed assets (approximation) | - | -€523,918 | -€558,462 | -€1.5m | -€1.3m | ▲ 12.2% |
| Change in cash | - | -€4,434 | €61,098 | €216,059 | -€259,961 | ▼ 220% |
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
2026
06-02
State Gazette act
Capital & shares · RestructuringResignations: AQUALITY (director) and Edimus (director) · Appointment: Edimus (director) · Permanent representative: Arne Valaert15 facts ▸
State Gazette act
Capital & shares · Restructuring
Resignations: AQUALITY (director) and Edimus (director) · Appointment: Edimus (director) · Permanent representative: Arne Valaert15 facts ▸
- General meeting, 31-12-2025
- Merger, absorption, 31-12-2025
- Accounting effect, 01-09-2025
- Dissolution, 31-12-2025
- Director resignation, AQUALITY (director)
- Director discharge, AQUALITY
- Director resignation, Edimus (director)
- Director appointment, Edimus (director)
- Permanent representative, Arne Valaert
- Mandate compensation, Edimus
- Power of attorney, JADE ACCOUNTANCY & TAX
- Permanent representative, Arne Valaert
- +3 further facts in this act
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2019net €623,442 ▲375%
Operating result €789,792, net result €623,442, both a record.
31-12
Financial
Equity above €1mEq €1.1m ▲151%
4 profitable years in a row build equity to €1.1m.
24-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €354,591
Net result €354,591 after one loss-making year.
2019
26-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
18-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
19-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 11 acts read
About the unread acts
Of the 11 Belgian State Gazette acts we know for this company, 1 has been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2025
Board 1
EDIMUS
CurrentDirector · since 31-12-2025 · Legal entity · perm. rep.: Arne Valaert
Permanent representatives 1
Arne Valaert
CurrentPermanent representative · since 31-12-2025 · for EDIMUS
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
10 of this company's 11 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brugge · 2 establishment units since 2020
Ground area
1.4 ha
Building footprint
1.8 ha
Volume, LiDAR
109,846 m³
Parcel 31812P0361/00T006, Flanders · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
AQUALITY
since 20202.309.726.287
AQUALITY
since 20242.356.276.389
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812P0361/00T006 | Flanders | 1.4 ha | 1 · 1.8 ha | 11.1 m · 2 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.
Mandate history
2 people since 2025, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| EDIMUS |
|
| NEPTUNUSFISH |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Acquisitions and mergers
1 transactionTook over:NEPTUNUSFISH
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 104,134 EUR awarded · 69,447 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 393 EUR | 140 EUR |
| 2024 | 2 | 1,968 EUR | 58,705 EUR |
| 2023 | 3 | 94,645 EUR | 3,474 EUR |
| 2022 | 2 | 7,128 EUR | 7,128 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.309.726.287
Legal Entity Identifier
984500F2FFBA9515B193
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Identification & contact
Identification
Legal formPublic limited company
Founded17-01-1996
Fiscal year end31-12
Activities, NACEBEL 2025
46323Wholesale trade
47222Retail trade
47230Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456902563
Registered
25-09-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.