BREEDEX
ActiveSummary
BREEDEX has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€141,805) and a net result of -€34,470. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 4735 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▲+3
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.29 against 0.36 in 2024; short-term debt: 87.7% and cash: 2.8% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 · 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 2025Solvency, return and age of the figures
Solvency
-45%
Return on assets
-10.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€141,805
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 21-04-2026, 101 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
101 d early
2024
2 d early
2023
23 d early
2022
6 d late
2021
22 d late
2020
31 d late
2019
31 d late
← 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 5 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 48% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 29 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#3 oldest company in Pelt, Other services sector
Equity
-€141,805▼ 32.1%
2024 · -€107,336
Total assets
€314,906▼ 9.6%
2024 · €348,431
Net result
-€34,470▲ 15.0%
2024 · -€40,534
Working capital
-€195,384▼ 25.1%
2024 · -€156,202
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service activities, 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
Line20212022202320242025
Operating result€18,499▲ 65.1%-€23,015-€26,081▼ 13.3%-€25,817▲ 1.0%-€21,402▲ 17.1%
Net result€7,068within the sector's middle half▲ 122%-€30,715below the sector's middle half-€36,740below the sector's middle half▼ 19.6%-€40,534below the sector's middle half▼ 10.3%-€34,470below the sector's middle half▲ 15.0%
Equity€654within the sector's middle half-€30,062below the sector's middle half-€66,801below the sector's middle half▼ 122%-€107,336below the sector's middle half▼ 60.7%-€141,805below the sector's middle half▼ 32.1%
Total assets€471,780above the sector's middle half▼ 8.0%€414,625above the sector's middle half▼ 12.1%€384,826above the sector's middle half▼ 7.2%€348,431above the sector's middle half▼ 9.5%€314,906above the sector's middle half▼ 9.6%
Debt€471,126▼ 9.1%€444,687▼ 5.6%€451,627▲ 1.6%€455,766▲ 0.9%€456,712▲ 0.2%
Working capital-€48,572below the sector's middle half▲ 6.1%-€79,603below the sector's middle half▼ 63.9%-€114,686below the sector's middle half▼ 44.1%-€156,202below the sector's middle half▼ 36.2%-€195,384below the sector's middle half▼ 25.1%
Solvency0.1%within the sector's middle half▲ 1.2pp-7.3%within the sector's middle half▼ 7.4pp-17.4%within the sector's middle half▼ 10.1pp-30.8%below the sector's middle half▼ 13.4pp-45.0%below the sector's middle half▼ 14.2pp
Current ratio0.73within the sector's middle half▼ 0.010.56within the sector's middle half▼ 0.170.46within the sector's middle half▼ 0.100.36below the sector's middle half▼ 0.100.29below the sector's middle half▼ 0.07
Return on assets (ROA)1.5%within the sector's middle half▲ 0.9pp-7.4%within the sector's middle half▼ 8.9pp-9.5%below the sector's middle half▼ 2.1pp-11.6%below the sector's middle half▼ 2.1pp-10.9%below the sector's middle half▲ 0.7pp
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, 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 stays negative: a loss of €21,402 in 2025 against €25,817 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €314,906
Fixed assets
€234,237 ▼ 10.0%
Current assets
€80,670 ▼ 8.6%
Key figures and ratios
EBITDA
€4,518▲
2024 · €1,507
Cash flow
-€8,550▲
2024 · -€13,210
Quick ratio
0.05▼
2024 · 0.06
Debt to equity
-3.22▲
2024 · -4.25
Interest coverage
0.34▲
2024 · 0.10
Debt ≤ 1 year
€276,053▲
2024 · €244,475
Debt > 1 year
€180,658▼
2024 · €211,291
Staff costs
€354▼
2024 · €643
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,621 companies that looked in July 2024 the way this one looks now, 4.5% 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
4.5%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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% | 1.8% |
| 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% 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 6,621 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €94 | €664 | €230 | €643 | €354 | ▼ 45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,571 | €27,616 | €27,616 | €27,324 | €25,920 | ▼ 5.1% |
| Other operating charges640/8 | €6,424 | €4,417 | €7,667 | €4,977 | €5,116 | ▲ 2.8% |
| Gross operating margin9900 | €54,589 | €9,682 | €9,432 | €7,128 | €9,988 | ▲ 40.1% |
| Operating profit (loss)9901 | €18,499 | -€23,015 | -€26,081 | -€25,817 | -€21,402 | ▲ 17.1% |
| Financial income75/76B | €2,021 | €620 | €365 | €216 | €140 | ▼ 35.2% |
| Recurring financial income75 | €2,021 | €620 | €365 | €216 | €140 | ▼ 35.2% |
| Financial charges65/66B | €13,451 | €8,321 | €11,024 | €14,933 | €13,208 | ▼ 11.6% |
| Recurring financial charges65 | €13,451 | €8,321 | €11,024 | €14,933 | €13,208 | ▼ 11.6% |
| Profit (loss) for the period before taxes9903 | €7,068 | -€30,715 | -€36,740 | -€40,534 | -€34,470 | ▲ 15.0% |
| Profit (loss) for the period9904 | €7,068 | -€30,715 | -€36,740 | -€40,534 | -€34,470 | ▲ 15.0% |
| Profit (loss) for the period to be appropriated9905 | €7,068 | -€30,715 | -€36,740 | -€40,534 | -€34,470 | ▲ 15.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €471,780 | €414,625 | €384,826 | €348,431 | €314,906 | ▼ 9.6% |
| Fixed assets21/28 | €342,713 | €315,097 | €287,481 | €260,157 | €234,237 | ▼ 10.0% |
| Tangible fixed assets22/27 | €342,713 | €315,097 | €287,481 | €260,157 | €234,237 | ▼ 10.0% |
| Land and buildings22 | €335,017 | €309,440 | €283,863 | €258,286 | €232,709 | ▼ 9.9% |
| Plant, machinery and equipment23 | €2,677 | €2,389 | €2,102 | €1,815 | €1,528 | ▼ 15.8% |
| Furniture and vehicles24 | €4,436 | €2,976 | €1,516 | €56 | - | - |
| Other tangible fixed assets26 | €583 | €292 | €0 | - | - | - |
| Current assets29/58 | €129,067 | €99,528 | €97,345 | €88,274 | €80,670 | ▼ 8.6% |
| Stocks and contracts in progress3 | €104,263 | €85,021 | €79,312 | €73,676 | €67,350 | ▼ 8.6% |
| Stocks30/36 | €104,263 | €85,021 | €79,312 | €73,676 | €67,350 | ▼ 8.6% |
| Amounts receivable within one year40/41 | €7,038 | €857 | €1,038 | €848 | €763 | ▼ 10.0% |
| Trade receivables40 | €6,879 | €146 | €1,014 | €828 | €726 | ▼ 12.3% |
| Other amounts receivable41 | €158 | €711 | €24 | €21 | €38 | ▲ 80.9% |
| Current investments50/53 | €107 | €107 | - | - | - | - |
| Cash at bank and in hand54/58 | €16,518 | €11,046 | €13,367 | €9,439 | €8,814 | ▼ 6.6% |
| Deferred charges and accrued income490/1 | €1,141 | €2,496 | €3,627 | €4,310 | €3,743 | ▼ 13.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €471,780 | €414,625 | €384,826 | €348,431 | €314,906 | ▼ 9.6% |
| Equity10/15 | €654 | -€30,062 | -€66,801 | -€107,336 | -€141,805 | ▼ 32.1% |
| Contributions10/11 | €137,387 | €137,387 | €137,387 | €137,387 | €137,387 | = |
| Profit (loss) carried forward14 | -€136,734 | -€167,449 | -€204,189 | -€244,723 | -€279,193 | ▼ 14.1% |
| Amounts payable17/49 | €471,126 | €444,687 | €451,627 | €455,766 | €456,712 | ▲ 0.2% |
| Amounts payable after more than one year17 | €293,487 | €265,555 | €239,596 | €211,291 | €180,658 | ▼ 14.5% |
| Financial debts170/4 | €293,487 | €265,455 | €239,496 | €211,191 | €180,558 | ▼ 14.5% |
| Other amounts payable178/9 | - | €100 | €100 | €100 | €100 | = |
| Amounts payable within one year42/48 | €177,639 | €179,131 | €212,031 | €244,475 | €276,053 | ▲ 12.9% |
| Current portion of amounts payable after more than one year42 | €28,625 | €28,304 | €26,638 | €28,305 | €30,632 | ▲ 8.2% |
| Financial debts43 | €17 | €356 | - | €47 | - | - |
| Credit institutions430/8 | €17 | - | - | €47 | - | - |
| Other loans439 | - | €356 | - | - | - | - |
| Trade debts44 | €4,681 | €3,317 | €7,385 | €5,501 | €241 | ▼ 95.6% |
| Suppliers440/4 | €4,681 | €3,317 | €7,385 | €5,501 | €241 | ▼ 95.6% |
| Taxes, remuneration and social security45 | €3,924 | €1,162 | €2,269 | €818 | €5,007 | ▲ 512% |
| Taxes450/3 | €2,768 | - | €2,269 | €818 | €5,007 | ▲ 512% |
| Remuneration and social security454/9 | €1,157 | €1,162 | - | - | - | - |
| Other amounts payable47/48 | €140,392 | €145,993 | €175,739 | €209,803 | €240,173 | ▲ 14.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,068 | -€30,715 | -€36,740 | -€40,534 | -€34,470 | ▲ 15.0% |
| + Depreciation and write-downs630 | €29,571 | €27,616 | €27,616 | €27,324 | €25,920 | ▼ 5.1% |
| Operating cash flow (approximation) | €36,640 | -€3,100 | -€9,124 | -€13,210 | -€8,550 | ▲ 35.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€5,472 | €2,321 | -€3,928 | -€626 | ▲ 84.1% |
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
Next filing, fiscal year 2026, expected by
2026
21-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€40,534
Net result drops to -€40,534, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 6 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Highest result since 2019net €7,068 ▲122%
Operating result €18,499, net result €7,068, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €3,183
Net result €3,183 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
1999
09-02
NBB filing
Annual accounts filed
fiscal year 1997 · abbreviated schema · 193 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Pelt · 1 establishment unit since 2019
Ground area
2,042 m²
Building footprint
731 m²
Volume, LiDAR
3,286 m³
Parcel 72029A0232/00R000, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Breedex bvba
since 20192.301.309.657
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72029A0232/00R000 | Flanders | 2,042 m² | 1 · 731 m² | 6.9 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.
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Of 6,710 companies in sector 96230 we hold annual accounts for 628. 115 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 (pre-2019)
Founded02-09-1993
Fiscal year end31-12
Trade name NL
ZONNESTUDIO MC. SUN
Activities, NACEBEL 2025
96230Day spas, saunas and steam baths
47750Retail sale of cosmetics and toilet articles
47789Other retail sale of new goods
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451828374
Also
9925:BE0451828374
Registered
31-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.