AQUALITY
ActiveSummary
AQUALITY has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €169,364. Equity is growing by about 44% per year across the filed financial years. Its solvency ranks better than 16% of 6,158 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Activity
Wholesale trade
NACE 46323
2nd fastest staff growth in Bruges, Wholesale and retail trade sector3 sites
Size
€47.6mturnover 2025
- Staff
- 85.5 FTE
- Equity
- €1.7m
- Profit
- €169,364
Net result -56%: merger
Structure
- Parent
- Edimus · 100%
- Holdings
- 2
- Aquality NVDirector
- MBI SERVICES BVDirector
Auditor: A&C - Bedrijfsrevisor2025 accounts 45 days early5 of 11 deeds summarised
Why 67raises riskLiquidity: current ratio 0.97, cash €157,465, halvedEquity €1.7m (14.1% of total assets)Size: turnover €47.6m, 85.5 FTE, total assets €12.2mlowers riskFounded in 1996Show the evidence
Checked score
Score 2025
67
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 37% of its sector peers (NACE 46, medium-sized)
Financial strength · tick = 2024
Weak
Solvency
39=
equity 14.1% of total assets
Liquidity
12-5
short-term debt 72.7% · cash 1.3%
Profitability
57-3
return on assets 1.4%
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.5%
12-2024: 0.5%● unchanged vs 11-2024
01-2025: 0.5%● unchanged vs 12-2024
02-2025: 0.5%● unchanged vs 01-2025
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025lowest value
05-2025: 0.5%● unchanged vs 04-2025
06-2025: 0.5%● unchanged vs 05-2025
07-2025: 0.6%▲ +0.1 percentage points vs 06-2025
08-2025: 0.8%▲ +0.2 percentage points vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.8%● unchanged vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026highest value
08-2026: 0.8%● unchanged vs 07-2026highest value
09-2026: 0.8%● unchanged vs 08-2026highest value
10-2026: 0.8%● unchanged vs 09-2026
Credit of up to €110,000 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.97, compared with 0.98 in 2024, below 1; short-term debt: 72.7% and cash: 1.3% of total assets), and 85.9% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, medium-sized): better than 17% on solvency, 13% on liquidity, 40% on profitability and 78% on growth.
The bankruptcy probability was computed on 30-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 6158 sector peers (2025).
NBB · sector comparisonPosition among 6158 sector peers
Solvency
better than 16%
← 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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 days early
2024
28 days early
2023
36 days early
2022
129 days early
2021
37 days early
2020
52 days early
2019
35 days early
← 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 52 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
31-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Capital & shares · RestructuringResignations: AQUALITY (director) and Edimus…
- RestructuringPermanent representative: Arne Valaert ·…
Financials · financial year 2025, full format
In the rankings
#2 company by staff growth in Bruges, Wholesale and retail trade sector#5 employer in Bruges, Wholesale and retail trade sector
Turnover
€47.6m▲ 13.8%
2024 · €41.8m
EBIT margin
1.1%▼ 0.7pp
2024 · 1.8%
Net result
€169,364▼ 55.5%
2024 · €380,822
Working capital
-€227,765▼ 35.4%
2024 · -€168,154
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has fallen two years in a row; 2025 is 30% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€47.6m
2025
Operating result€0.5m
2025
Net result€0.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€12.2m
2025
Equity€1.7m
2025
Debt€10.4m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.2m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin1.1%
2025
Return on assets (ROA)1.4%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency14.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.97
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)85.5
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€33.6m€41.8m▲ 24.5%€47.6m▲ 13.8%
Operating result-€0.2m-€0.5m€0.1m▼ 78.0%€0.2m▲ 73.4%€0.8m▲ 300%€0.8m▼ 4.0%€0.5m▼ 30.4%
Net result-€0.3m-€0.4mabove the sector's middle half€0.01mwithin the sector's middle half▼ 96.7%€0.1mwithin the sector's middle half▲ 11×€0.6mabove the sector's middle half▲ 375%€0.4mwithin the sector's middle half▼ 38.9%€0.2mwithin the sector's middle half▼ 55.5%
EBIT margin2.4%1.8%▼ 0.5pp1.1%▼ 0.7pp
Equity€0.2m-€0.3mwithin the sector's middle half▲ 20.2%€0.3mwithin the sector's middle half▲ 4.1%€0.4mwithin the sector's middle half▲ 43.7%€1.1mwithin the sector's middle half▲ 151%€1.6mwithin the sector's middle half▲ 43.3%€1.7mwithin the sector's middle half▲ 10.5%
Total assets€1.8m-€2.6mabove the sector's middle half▲ 39.9%€4.5mabove the sector's middle half▲ 73.7%€5.5mabove the sector's middle half▲ 24.0%€10.4mwithin the sector's middle half▲ 87.5%€11.1mwithin the sector's middle half▲ 7.1%€12.2mwithin the sector's middle half▲ 9.3%
Debt€1.6m-€2.3m▲ 42.9%€4.2m▲ 82.4%€5.1m▲ 22.6%€9.2m▲ 80.3%€9.5m▲ 3.0%€10.4m▲ 9.2%
Working capital€0.5m-€0.06mwithin the sector's middle half▼ 89.5%€0.1mwithin the sector's middle half▲ 159%-€0.6mbelow the sector's middle half-€0.4mbelow the sector's middle half▲ 35.7%-€0.2mbelow the sector's middle half▲ 57.7%-€0.2mbelow the sector's middle half▼ 35.4%
Solvency13.0%-11.2%below the sector's middle half▼ 1.8pp6.7%below the sector's middle half▼ 4.5pp7.8%below the sector's middle half▲ 1.1pp10.4%below the sector's middle half▲ 2.6pp13.9%below the sector's middle half▲ 3.5pp14.1%below the sector's middle half▲ 0.1pp
Current ratio1.47-1.04below the sector's middle half▼ 0.431.05below the sector's middle half▲ 0.010.86below the sector's middle half▼ 0.180.95below the sector's middle half▲ 0.090.98below the sector's middle half▲ 0.030.97below the sector's middle half=
Return on assets (ROA)-13.8%-13.8%above the sector's middle half▲ 27.6pp0.3%below the sector's middle half▼ 13.5pp2.4%within the sector's middle half▲ 2.1pp6.0%within the sector's middle half▲ 3.6pp3.4%within the sector's middle half▼ 2.6pp1.4%within the sector's middle half▼ 2.0pp
Staff (FTE)14.6-25above the sector's middle half▲ 71.2%38.1above the sector's middle half▲ 52.4%48.4above the sector's middle half▲ 27.0%71.6above the sector's middle half▲ 47.9%81.9above the sector's middle half▲ 14.4%85.5above the sector's middle half▲ 4.4%
above
within
below
the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2025 Net result -56% on 2024. Merger absorbing NEPTUNUSFISH, effective 12-11-2025.
- 2023 Net result +375%, Equity +151%, Total assets +87% on 2022. Merger absorbing MBI Services, proposed with effect from 08-05-2023. Merger absorbing ETS PIETTE ET CIE SRL, proposed with effect from 08-05-2023.
- 2021 Net result -97% on 2020. The previous financial year ran 21 months, this one 12.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.2m
Fixed assets
€3.6m ▼ 1.1%
Current assets
€8.6m ▲ 14.3%
Equity and liabilities €12.2m
Equity
€1.7m ▲ 10.5%
Provisions
€82,953 ▲ 1.6%
Debt
€10.4m ▲ 9.2%
Debt's share of the balance-sheet total falls from 85.3% to 85.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.2m▼
2024 · €1.3m
Cash flow
€844,341▼
2024 · €950,352
Quick ratio
0.85▲
2024 · 0.85
Debt to equity
6.06▼
2024 · 6.13
ROE
9.9%▼
2024 · 24.6%
Interest coverage
6.46▼
2024 · 6.61
Debt ≤ 1 year
€8.8m▲
2024 · €7.7m
Debt > 1 year
€1.5m▼
2024 · €1.8m
Income taxes
€154,676▼
2024 · €242,374
Staff costs
€5.7m▲
2024 · €4.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 733 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97.4% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.0%
went bankrupt
1.4%
stopped otherwise
97.4%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,445 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% | 0.9% |
| 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 74.5% 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 733 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €34.2m | €42.1m | €48.1m | ▲ 14.3% |
| Turnover70 | - | - | - | - | €33.6m | €41.8m | €47.6m | ▲ 13.8% |
| Other operating income74 | - | - | - | - | €0.2m | €0.3m | €0.5m | ▲ 100% |
| Non-recurring operating income76A | - | - | €0.1m | €0 | €0.4m | €0 | - | - |
| Operating charges60/66A | - | - | - | - | €33.4m | €41.3m | €47.6m | ▲ 15.1% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €24.6m | €30.6m | €35.5m | ▲ 15.9% |
| Purchases600/8 | - | - | - | - | €24.8m | €30.7m | €35.5m | ▲ 15.6% |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€0.2m | -€0.1m | -€0.04m | ▲ 66.7% |
| Services and other goods61 | - | - | - | - | €4.3m | €5.0m | €5.3m | ▲ 7.1% |
| Remuneration, social security and pensions62 | - | - | €1.6m | €2.5m | €3.9m | €4.9m | €5.7m | ▲ 16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | €0.7m | ▲ 18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€0.007m | €0.02m | €0.1m | €0.05m | €0.1m | ▲ 183% |
| Other operating charges640/8 | - | - | €0.01m | €0.03m | €0.07m | €0.2m | €0.2m | ▼ 8.4% |
| Non-recurring operating charges66A | - | - | €0.02m | €0.005m | €0.001m | €0 | €0.02m | - |
| Gross operating margin9900 | €1.5m | €2.9m | €1.9m | €2.9m | - | - | - | - |
| Operating profit (loss)9901 | -€0.2m | €0.5m | €0.1m | €0.2m | €0.8m | €0.8m | €0.5m | ▼ 30.4% |
| Financial income75/76B | - | - | €0.02m | €0.02m | €0.2m | €0.08m | €0.02m | ▼ 75.8% |
| Recurring financial income75 | €0.001m | €0.04m | €0.004m | €0.02m | €0.05m | €0.08m | €0.02m | ▼ 75.8% |
| Income from financial fixed assets750 | - | - | - | - | €0.02m | €0 | - | - |
| Income from current assets751 | - | - | - | - | €0.007m | €0.02m | €0.01m | ▼ 24.1% |
| Other financial income752/9 | - | - | - | - | €0.02m | €0.06m | €0.007m | ▼ 88.7% |
| Non-recurring financial income76B | - | - | €0.01m | - | €0.2m | €0 | - | - |
| Financial charges65/66B | - | - | €0.05m | €0.05m | €0.2m | €0.2m | €0.2m | ▼ 1.4% |
| Recurring financial charges65 | €0.03m | €0.06m | €0.05m | €0.04m | €0.2m | €0.2m | €0.2m | ▼ 1.4% |
| Debt charges650 | - | - | - | - | €0.1m | €0.2m | €0.2m | ▼ 7.2% |
| Other financial charges652/9 | - | - | - | - | €0.03m | €0.02m | €0.04m | ▲ 47.4% |
| Non-recurring financial charges66B | - | - | - | €0.005m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€0.2m | €0.5m | €0.09m | €0.2m | €0.8m | €0.6m | €0.3m | ▼ 46.7% |
| Transfer from deferred taxes780 | - | - | - | - | €0.03m | €0.01m | €0.005m | ▼ 55.3% |
| Transfer to deferred taxes680 | - | - | - | - | €0.1m | €0 | €0.007m | - |
| Income taxes67/77 | €0.02m | €0.1m | €0.07m | €0.04m | €0.1m | €0.2m | €0.2m | ▼ 36.2% |
| Taxes670/3 | - | - | - | - | €0.1m | €0.2m | €0.2m | ▼ 36.2% |
| Profit (loss) for the period9904 | -€0.3m | €0.4m | €0.01m | €0.1m | €0.6m | €0.4m | €0.2m | ▼ 55.5% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.07m | €0.04m | €0.02m | ▼ 55.3% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €0.3m | €0 | €0.02m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.3m | €0.4m | €0.01m | €0.1m | €0.4m | €0.4m | €0.2m | ▼ 60.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.8m | €2.6m | €4.5m | €5.5m | €10.4m | €11.1m | €12.2m | ▲ 9.3% |
| Fixed assets21/28 | €0.1m | €0.9m | €1.3m | €1.7m | €2.8m | €3.6m | €3.6m | ▼ 1.1% |
| Intangible fixed assets21 | - | €0.2m | €0.1m | €0.6m | €1.6m | €1.4m | €1.4m | ▲ 0.4% |
| Tangible fixed assets22/27 | €0.1m | €0.7m | €1.1m | €1.0m | €1.2m | €2.1m | €2.1m | ▲ 1.5% |
| Plant, machinery and equipment23 | - | - | €0.09m | €0.08m | €0.09m | €0.2m | €0.3m | ▲ 31.5% |
| Furniture and vehicles24 | - | - | €0.1m | €0.09m | €0.1m | €0.1m | €0.09m | ▼ 33.5% |
| Leasing and similar rights25 | - | - | - | - | €0.2m | €0.9m | €0.9m | ▲ 5.9% |
| Other tangible fixed assets26 | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 6.6% |
| Financial fixed assets28 | €0.005m | €0.06m | €0.06m | €0.06m | €0.1m | €0.1m | €0.04m | ▼ 65.0% |
| Other financial fixed assets284/8 | - | - | - | - | €0.1m | €0.1m | €0.04m | ▼ 65.0% |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €0.1m | €0.1m | €0.04m | ▼ 65.0% |
| Current assets29/58 | €1.7m | €1.7m | €3.2m | €3.9m | €7.6m | €7.5m | €8.6m | ▲ 14.3% |
| Stocks and contracts in progress3 | €0.3m | €0.2m | €0.7m | €0.6m | €0.9m | €1.0m | €1.1m | ▲ 7.8% |
| Stocks30/36 | - | - | €0.7m | €0.6m | €0.9m | €1.0m | €1.1m | ▲ 7.8% |
| Raw materials and consumables30/31 | - | - | - | - | €0.02m | €0.02m | €0.02m | = |
| Goods purchased for resale34 | - | - | - | - | €0.9m | €1.0m | €1.1m | ▲ 7.9% |
| Amounts receivable within one year40/41 | €1.0m | €1.1m | €2.2m | €2.9m | €6.1m | €6.2m | €7.3m | ▲ 18.7% |
| Trade receivables40 | - | - | €1.8m | €2.8m | €5.5m | €5.5m | €6.3m | ▲ 14.4% |
| Other amounts receivable41 | - | - | €0.4m | €0.1m | €0.6m | €0.7m | €1.1m | ▲ 52.0% |
| Cash at bank and in hand54/58 | €0.4m | €0.3m | €0.3m | €0.4m | €0.6m | €0.3m | €0.2m | ▼ 50.6% |
| Deferred charges and accrued income490/1 | - | - | €0.01m | €0.01m | €0.005m | €0.03m | €0.03m | ▲ 17.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.8m | €2.6m | €4.5m | €5.5m | €10.4m | €11.1m | €12.2m | ▲ 9.3% |
| Equity10/15 | €0.2m | €0.3m | €0.3m | €0.4m | €1.1m | €1.6m | €1.7m | ▲ 10.5% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.04m | €0.04m | €0.04m | €0.04m | €0.3m | €0.3m | €0.3m | ▲ 1.4% |
| Non-distributable reserves130/1 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Tax-exempt reserves132 | - | - | €0.02m | €0.02m | €0.3m | €0.3m | €0.3m | ▲ 1.5% |
| Distributable reserves133 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Profit (loss) carried forward14 | €0.05m | €0.1m | €0.1m | €0.2m | €0.6m | €1.0m | €1.2m | ▲ 16.1% |
| Investment grants15 | - | - | - | - | - | €0.09m | €0.08m | ▼ 8.0% |
| Provisions and deferred taxes16 | - | - | - | - | €0.09m | €0.08m | €0.08m | ▲ 1.6% |
| Deferred taxes168 | - | - | - | - | €0.09m | €0.08m | €0.08m | ▲ 1.6% |
| Amounts payable17/49 | €1.6m | €2.3m | €4.2m | €5.1m | €9.2m | €9.5m | €10.4m | ▲ 9.2% |
| Amounts payable after more than one year17 | €0.4m | €0.7m | €1.1m | €0.6m | €1.3m | €1.8m | €1.5m | ▼ 15.0% |
| Financial debts170/4 | - | - | €1.1m | €0.6m | €1.3m | €1.8m | €1.5m | ▼ 15.0% |
| Subordinated loans170 | - | - | - | - | €0.2m | €0.2m | €0 | ▼ 100% |
| Leasing and similar obligations172 | - | - | - | - | €0.2m | €0.7m | €0.7m | ▲ 1.3% |
| Credit institutions173 | - | - | - | - | €0.8m | €0.8m | €0.7m | ▼ 4.9% |
| Other loans174 | - | - | - | - | €0.1m | €0.08m | €0.04m | ▼ 47.4% |
| Amounts payable within one year42/48 | €1.2m | €1.6m | €3.1m | €4.5m | €8.0m | €7.7m | €8.8m | ▲ 14.7% |
| Current portion of amounts payable after more than one year42 | - | - | €0.5m | €0.3m | €0.5m | €0.8m | €0.7m | ▼ 14.9% |
| Financial debts43 | - | - | €0.4m | €0.9m | €2.1m | €1.0m | €1.5m | ▲ 56.1% |
| Credit institutions430/8 | - | - | €0.4m | €0.9m | €2.1m | €1.0m | €1.5m | ▲ 56.1% |
| Trade debts44 | €0.7m | €0.9m | €1.7m | €2.3m | €4.4m | €4.6m | €5.2m | ▲ 12.5% |
| Suppliers440/4 | - | - | €1.7m | €2.3m | €4.4m | €4.6m | €5.2m | ▲ 12.5% |
| Taxes, remuneration and social security45 | - | - | €0.4m | €0.6m | €1.0m | €1.3m | €1.3m | ▼ 1.2% |
| Taxes450/3 | - | - | €0.2m | €0.2m | €0.4m | €0.7m | €0.5m | ▼ 18.8% |
| Remuneration and social security454/9 | - | - | €0.3m | €0.4m | €0.6m | €0.6m | €0.7m | ▲ 17.5% |
| Other amounts payable47/48 | - | - | €0.1m | €0.3m | €32 | €0 | €0.2m | - |
| Accrued charges and deferred income492/3 | - | - | €0.03m | - | - | €0.01m | €0.01m | ▲ 35.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | €0.4m | €0.01m | €0.1m | €0.6m | €0.4m | €0.2m | ▼ 55.5% |
| + Depreciation and write-downs630 | €0.07m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | €0.7m | ▲ 18.5% |
| Operating cash flow (approximation) | -€0.2m | €0.5m | €0.2m | €0.3m | €1.0m | €1.0m | €0.8m | ▼ 11.2% |
| Investment in fixed assets (approximation) | - | -€0.9m | -€0.5m | -€0.6m | -€1.5m | -€1.3m | -€0.6m | ▲ 52.3% |
| Change in cash | - | -€0.08m | -€0.004m | €0.06m | €0.2m | -€0.3m | -€0.2m | ▲ 37.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 16-06-2026 | 2026-00165530 |
| 31-12-2024 | full format | 03-07-2025 | 2025-00232194 |
| 31-12-2023 | full format | 25-06-2024 | 2024-00159737 |
| 31-12-2022 | abbreviated format | 24-03-2023 | 2023-00044814 |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20089911 |
| 31-12-2020 | abbreviated format | 09-06-2021 | 2021-18400119 |
| 31-03-2019 | abbreviated format | 26-09-2019 | 2019-66200208 |
| 31-03-2018 | abbreviated format | 19-07-2018 | 2018-35800331 |
| 31-03-2017 | abbreviated format | 18-10-2017 | 2017-67400306 |
| 31-03-2016 | abbreviated format | 19-09-2016 | 2016-60200502 |
Similar companies · same sector, comparable size
BRUGSE VISROKERIJ F. ALLOO
BE 0461.904.595
Brugge · equity €1,815,864
SIX FUMAISON
BE 0462.912.605
Mouscron · equity €1,859,874
Capmarin
BE 0744.984.249
Brussel · equity €1,513,049
DANIEL'S VISBEDRIJF
BE 0451.004.072
Blankenberge · equity €1,975,216
Aquamarine Seafood
BE 0673.844.548
Antwerpen · equity €2,012,248
Of the 228 active companies whose main activity is wholesale trade (NACE 46323), figures are known for 157. 90 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · €104,134 awarded · €69,447 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €393 | €140 |
| 2024 | 2 | €1,968 | €58,705 |
| 2023 | 3 | €94,645 | €3,474 |
| 2022 | 2 | €7,128 | €7,128 |
European Union, budget
2025 · 1 entry · €41,153 in totalProjects
SUPPLY FOOD AND DRINKS
Public contracts
16 awards · 2025 to 2026
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Show 11 more contracts
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Lieferung von Lebensmitteln für Kantinen und Restaurants
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.
Directors
Directors
2 directors, last change in 2026
Board 2
Aquality NV
CurrentDirector · Legal entity · from a recent deed
MBI SERVICES BV
CurrentDirector · Legal entity · from a recent deed
Statutory auditor 1
A&C - Bedrijfsrevisor
CurrentStatutory auditor · since 17-12-2024 · permanent representative: Bert De Clercq
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
6 of this company's 11 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
5 people since 2023, 3 in office
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Aquality NVfrom an act |
|
| MBI SERVICES BVfrom an act |
|
| A&C - Bedrijfsrevisor |
|
| EDIMUS |
|
| NEPTUNUSFISH |
|
Owners and capital
Owners
1 ownerChain of control
- Edimus
- AQUALITY
Highest known parent: Edimus. The sources do not say who stands above it.
Owners 1
- Edimusparent100%
According to the 2025 annual accounts of AQUALITY and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Shareholders according to the deeds
Stated in the act
act of 25-11-2025 ↗
- Edimus BV all shares
Stated in the act
act of 26-05-2023 ↗
- Edimus BV 300 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 25-11-2025 Capital stated in 2 acts · €150,000 · 300 shares
Group and network
Holdings and subsidiaries
2 holdings · 3 subsidiaries in the treeHoldings 2
-
100%
- NEPTUNUSFISHsubsidiary100%
All subsidiaries, including indirect ones 3
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
MBI SERVICES 100%1 subsidiary
- ETS PIETTE & CIE 100%
- NEPTUNUSFISH 100%
According to the 2025 annual accounts of AQUALITY and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
The board mandates are listed below; here you explore them as a network.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Board mandates elsewhere
1 board mandateBoard mandates of this companythis company sits on their board1
Acquisitions and mergers
3 transactionsHistory
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
16-06
NBB filing
Annual accounts filed
financial year 2025 · full format
06-02
Gazette deed
Capital & shares · RestructuringResignations: AQUALITY (director) and Edimus (director) · Permanent representative: Arne Valaert · Appointment: Edimus (director)18 facts ▸
Gazette deed
Capital & shares · Restructuring
Resignations: AQUALITY (director) and Edimus (director) · Permanent representative: Arne Valaert · Appointment: Edimus (director)18 facts ▸
- Incorporation, 12-01-1996
- Registered-office move, Kattegatstraat 301-307,8380 Brugge
- Amendment of the articles
- Merger, “met fusie door overneming gelijkgestelde verrichting, gehele vermogen,zowel rechten als verplichtingen” (deed in Dutch)
- Shareholding, 31-12-2025, 100
- Other provision, “geen tussentijdse cijfers vereist, alle aandeelhouders en desgevallend houders van andere effecten met stemrecht” (deed in Dutch)
- General meeting, “eenparigheid van stemmen, onderzoek en bespreking fusievoorstel” (deed in Dutch)
- Other provision, “EERSTE BESLUIT:kennisneming en bespreking fusievoorstellen, geen opmerkingen” (deed in Dutch)
- Dissolution, merger, “fusie” (deed in Dutch)
- Other provision, “ten algemenen titel, gehele vermogen NEPTUNUSFISH” (deed in Dutch)
- Power of attorney, Cédric Roegiers
- Director resignation, AQUALITY (director)
- +6 further facts in this act
2025
25-11
Gazette deed
RestructuringPermanent representative: Arne Valaert · Merger · Shareholding25 facts ▸
Gazette deed
Restructuring
Permanent representative: Arne Valaert · Merger · Shareholding25 facts ▸
- Merger, “met fusie door overneming gelijkgestelde verrichting, in gemeen overleg” (deed in Dutch)
- Other provision, “gehele vermogen,zowel rechten als verplichtingen,als gevolg van ontbinding zonder vereffening overgaat op andere vennootschap zonder uitgifte van aandelen in ve…” (deed in Dutch)
- Shareholding
- Shareholding, Edimus BV
- Other provision, “toekomstgerichte uitbouw groep door herstructurering en rationalisering activiteiten en kosten, motivering fusievoorstel” (deed in Dutch)
- Capital, €150,000
- Director in office, Edimus BV (director)
- Permanent representative, Arne Valaert (3 times)
- Other provision, “aanduiding in verslag, de overnemende vennootschap” (deed in Dutch)
- Capital, €18,600
- Director in office, Aquality NV (director)
- Other provision, “aanduiding in verslag, de over te nemen vennootschap” (deed in Dutch)
- +13 further facts in this act
03-07
NBB filing
Annual accounts filed
financial year 2024 · full format
2024
17-12
Gazette deed
Appointment: A&C - Bedrijfsrevisor (statutory auditor)2 facts ▸
Gazette deed
Appointment: A&C - Bedrijfsrevisor (statutory auditor)
2 facts ▸
- General meeting, 28-10-2024
- Auditor appointment, A&C - Bedrijfsrevisor (statutory auditor)
25-06
NBB filing
Annual accounts filed
financial year 2023 · full format
21-02
Gazette deed
Capital & shares · RestructuringPermanent representative: VALAERT Ame Jozef Walter · Merger · Shareholding11 facts ▸
Gazette deed
Capital & shares · Restructuring
Permanent representative: VALAERT Ame Jozef Walter · Merger · Shareholding11 facts ▸
- General meeting, 12-12-2023
- Merger, “goedkeuring fusievoorstel, EERSTE BESLISSING” (deed in Dutch)
- Merger, “fusie door overneming, TWEEDE BESLISSING” (deed in Dutch)
- Shareholding
- Accounting effect, 31-12-2022
- Permanent representative, VALAERT Ame Jozef Walter
- Power of attorney, VALAERT Ame Jozef Walter
- Other provision, “hypothecaire toestand overgedragen goederen, vrij, zuiver en onbelast van alle schulden en voorrechten of hypothecaire lasten” (deed in Dutch)
- Other provision, “postinterventiedossier”, 01-05-2001 (deed in Dutch)
- Power of attorney
- Real estate, “kavel nummer 88, industrieel/nijverheid gebouw gelegen Industrielaan”, 133 (deed in Dutch)
2023
31-12
Financial
Highest result from 2019 to 2025net €623,442 ▲375%
Operating result €789,792, net result €623,442, both a record.
31-12
Financial
Equity above €1mequity €1.1m ▲151%
4 profitable years in a row build equity to €1.1m.
26-05
Gazette deed
RestructuringPermanent representative: Arne Valaert · Merger · Shareholding36 facts ▸
Gazette deed
Restructuring
Permanent representative: Arne Valaert · Merger · Shareholding36 facts ▸
- Merger, 08-05-2023 (2 times)
- Other provision, “algemene groepsstructuur vereenvoudigen en toekomstgerichte uitbouw door herstructurering en rationalisering van activiteiten en kosten, motivering en voorstel…” (deed in Dutch)
- Shareholding, MBI SERVICES BV
- Shareholding
- Capital, €150,000
- Shareholding, “op naam zonder aanduiding van nominale waarde”, 300 (deed in Dutch)
- Other provision, “inschrijving rechtspersonenregister, Gent afdeling Brugge” (deed in Dutch)
- Director in office, Edimus BV (director)
- Permanent representative, Arne Valaert (4 times)
- Director in office, AQUALITY (director)
- Capital, €67,400
- Shareholding, “op naam zonder nominale waarde”, 1968 (deed in Dutch)
- +24 further facts in this act
24-03
NBB filing
Annual accounts filed
financial year 2022 · abbreviated format
2022
24-06
NBB filing
Annual accounts filed
financial year 2021 · abbreviated format
Show earlier events
2021
09-06
NBB filing
Annual accounts filed
financial year 2020 · abbreviated format
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
financial year 2019 · abbreviated format
2018
19-07
NBB filing
Annual accounts filed
financial year 2018 · abbreviated format
2017
18-10
NBB filing
Annual accounts filed
financial year 2017 · abbreviated format
2016
19-09
NBB filing
Annual accounts filed
financial year 2016 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 29 annual accounts filed, the latest 10 are here; all 29 are under Financials.
5 of 11 deeds read
About the unread acts
Of the 11 Belgian Official Gazette deeds we know for this company, 5 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Register details
Identification
Legal formPublic limited company
Founded17-01-1996
Financial 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
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBruggeunit no. 2.309.726.287
Legal Entity Identifier
984500F2FFBA9515B193
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Brugge · 3 establishment units since 2020
Ground area
1.6 ha
Building footprint
1.8 ha
Building volume
109,846 m³
2 parcels, Flanders · tallest building 11.1 m. Linked by address, not a title deed.
3 establishment units
AQUALITY
since 2020unit no. 2.309.726.287
AQUALITY
since 2024unit no. 2.356.276.389
AQUALITY
since 2026unit no. 2.395.491.016
2 parcels
Flanders
2
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31812P0361/00T006 | Flanders | 1.4 ha | 1 · 1.8 ha | 11.1 m · 2 |
| 31812P0361/02A000 | Flanders | 1,921 m² | - | - |
How the parcels are linked
Good to know
Both parcels match the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De verwerking van producten uit de vissector en alle industriële activiteiten daarmee samengaand; De aan-en verkoop,commercialisering,groot-…” (deed in Dutch)
3 activities (deed in Dutch)
- De verwerking van producten uit de vissector en alle industriële activiteiten daarmee samengaand
- De aan-en verkoop,commercialisering,groot- en kleinhandel van vis,visproducten en zeevruchten
- De productie en verkoop van visverpakkingsproducten
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Kattegatstraat 301-307,8380 Brugge” (deed in Dutch)