BELGAPACK
ActiveBELGAPACK has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.80M and a net result of €492k. Equity is growing by ~35.2% per year across the filed fiscal years. Its solvency ranks better than 70% of 299 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
93
/ 100
Excellent= vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability88▼-12
Solvency100▲+1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity ample (current ratio 2.27 against 2.27 in 2023), and 35.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
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
64.6%
Return on assets
11.4%
Age of the figures
20 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
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 08-07-2025, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
23 d early
2023
30 d early
2022
31 d late
2021
33 d early
2020
11 d early
2019
9 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€2.80M▲ 9.5%
2023 · €2.56M
2018: €520k
2019: €765k
2020: €828k
2021: €1.28M
2022: €2.00M
2023: €2.56M
2018 → 2024
Total assets
€4.33M▲ 6.8%
2023 · €4.06M
2018: €2.49M
2019: €2.43M
2020: €2.38M
2021: €3.02M
2022: €3.82M
2023: €4.06M
2018 → 2024
Net result
€492k▼ 42.1%
2023 · €851k
2018: €63k
2019: €245k
2020: €313k
2021: €697k
2022: €1.23M
2023: €851k
2018 → 2024
Working capital
€1.72M▲ 11.3%
2023 · €1.55M
2018: €-97k
2019: €90k
2020: €87k
2021: €497k
2022: €981k
2023: €1.55M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€828k-€1.28M▲ 54.0%€2.00M▲ 57.1%€2.56M▲ 27.5%€2.80M▲ 9.5%
Operating result€435k-€930k▲ 114%€1.64M▲ 76.7%€1.15M▼ 29.9%€700k▼ 39.2%
Net result€313k-€697k▲ 123%€1.23M▲ 76.2%€851k▼ 30.7%€492k▼ 42.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 39% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.33M
Fixed assets
€1.26M▼ 2.7%
Current assets
€3.07M▲ 11.2%
Equity and liabilities €4.33M
Equity
€2.80M▲ 9.5%
Debt
€1.53M▲ 2.2%
The debt ratio falls from 37.0% to 35.4%: equity grows faster than debt.
Key figures and ratios
EBITDA
€883k▼
2023 · €1.32M
Cash flow
€675k▼
2023 · €1.02M
Solvency
64.6%▲
2023 · 63.0%
Current ratio
2.27=
2023 · 2.27
Quick ratio
1.61▲
2023 · 1.57
Debt / equity
0.55▼
2023 · 0.59
ROE
17.6%▼
2023 · 33.3%
ROA
11.4%▼
2023 · 21.0%
Interest coverage
12.63▼
2023 · 23.96
Debt
€1.53M▲
2023 · €1.50M
Debt ≤ 1 year
€1.35M▲
2023 · €1.22M
Debt > 1 year
€170k▼
2023 · €279k
Income taxes
€171k▼
2023 · €290k
Staff costs
€1.20M▼
2023 · €1.27M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€4.06M€4.33M▲
Fixed assets21/28€1.30M€1.26M▼
Intangible fixed assets21€77k€95k▲
Tangible fixed assets22/27€1.22M€1.17M▼
Land and buildings22€971k€914k▼
Plant, machinery and equipment23€61k€43k▼
Furniture and vehicles24€182k€128k▼
Leasing and similar rights25€4k€82k▲
Financial fixed assets28€135€135=
Current assets29/58€2.76M€3.07M▲
Stocks and contracts in progress3€856k€888k▲
Stocks30/36€856k€888k▲
Amounts receivable within one year40/41€1.52M€1.64M▲
Trade receivables40€1.49M€1.57M▲
Other amounts receivable41€37k€70k▲
Current investments50/53€11k€19k▲
Cash at bank and in hand54/58€354k€506k▲
Deferred charges and accrued income490/1€17k€15k▼
Equity and liabilities
Total equity and liabilities10/49€4.06M€4.33M▲
Equity10/15€2.56M€2.80M▲
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Reserves13€2.46M€2.70M▲
Non-distributable reserves130/1€10k€10k=
Legal reserve130€10k€10k=
Distributable reserves133€2.45M€2.69M▲
Amounts payable17/49€1.50M€1.53M▲
Amounts payable after more than one year17€279k€170k▼
Financial debts170/4€279k€170k▼
Amounts payable within one year42/48€1.22M€1.35M▲
Current portion of amounts payable after more than one year42€157k€173k▲
Financial debts43€137k€51k▼
Other loans439€137k€51k▼
Trade debts44€179k€242k▲
Suppliers440/4€179k€242k▲
Taxes, remuneration and social security45€217k€174k▼
Taxes450/3€92k€63k▼
Remuneration and social security454/9€126k€111k▼
Other amounts payable47/48€526k€713k▲
Accrued charges and deferred income492/3€7k€13k▲
Income statement
Code20232024
Remuneration, social security and pensions62€1.27M€1.20M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€171k€182k▲
Other operating charges640/8€37k€65k▲
Gross operating margin9900€2.63M€2.15M▼
Operating profit (loss)9901€1.15M€700k▼
Financial income75/76B€44k€33k▼
Recurring financial income75€44k€33k▼
Financial charges65/66B€55k€70k▲
Recurring financial charges65€55k€70k▲
Profit (loss) for the period before taxes9903€1.14M€664k▼
Income taxes67/77€290k€171k▼
Profit (loss) for the period9904€851k€492k▼
Profit (loss) for the period to be appropriated9905€851k€492k▼
Appropriation of the result
Profit (loss) to be appropriated9906€851k€492k▼
Transfer to equity691/2€551k€242k▼
To other reserves6921€551k€242k▼
Profit to be distributed694/7€300k€250k▼
Return on contributions (dividend)694€300k€250k▼
Social balance
Average headcount (FTE)908727.024.5▼
The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €1.23M ▲76.2%
Operating result €1.64M, net result €1.23M, both a record.
31-12
Financial
Equity above €2MEq €2.00M ▲57.1%
5 profitable years in a row build equity to €2.00M.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1MEq €1.28M ▲54%
4 profitable years in a row build equity to €1.28M.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 20 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
05-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Oudenaarde · 1 establishment unit since 2007
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kortrijkstraat 3059700 OudenaardeGround area
9,920 m²
Building footprint
6,655 m²
Volume, LiDAR
40,771 m³
Parcel 45508A0484/00N000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Belgapack
since 20072.162.428.621
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45508A0484/00N000 | Flanders | 9,920 m² | 1 · 6,655 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 11 entries · 564,778 EUR awarded · 332,142 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 396,146 EUR | 164,329 EUR |
| 2024 | 3 | 19,414 EUR | 18,631 EUR |
| 2023 | 3 | 77,904 EUR | 77,868 EUR |
| 2022 | 2 | 71,314 EUR | 71,314 EUR |
Schemes
Ontwikkelingsproject
Vlaams opleidingsverlof (VOV)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteOudenaarde2.162.428.621
Dual-learning approval
2 endedLegal Entity Identifier
699400VUJ2AUK4QL9091
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Of 664 companies in sector 16110 we hold annual accounts for 319. 167 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded14-05-2007
Fiscal year end31-12
Activities, NACEBEL
16110Sawmilling and planing of wood
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.