BRUSTOR
ActiveSummary
BRUSTOR has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €123.7m and a net result of €20.7m. Equity is growing by ~19.3% per year across the filed fiscal years. Its solvency ranks better than 88% of 154 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2023
Profitability91▼-1
Solvency100=
Growth71▼-4
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 8.1 against 7.82 in 2023; short-term debt: 11.7% and cash: 25.3% of total assets), and 11.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 13
Relative position
BE, all sectors
reference
Manufacture of textiles (NACE 13)
about 62% fewer 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 2025Solvency, return and age of the figures
Solvency
88.2%
Return on assets
14.7%
Age of the figures
9 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
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
11 d late
2024
13 d early
2023
12 d early
2022
4 d early
2021
11 d early
2020
8 d early
2019
70 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 after the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 company by equity in West Flanders, Textiles sector#4 company by total assets in West Flanders, Textiles sector#4 employer in Wevelgem, Manufacturing sector
Turnover
€102.6m▼ 5.2%
2023 · €108.2m
EBIT margin
19.9%▼ 0.4pp
2023 · 20.2%
Net result
€20.7m▲ 15.8%
2023 · €17.8m
Working capital
€116.4m▲ 22.1%
2023 · €95.3m
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
Line20202021202220232025
Turnover€89.0m▲ 13.0%€120.7m▲ 35.6%€119.3m▼ 1.2%€108.2m▼ 9.3%€102.6m-
Operating result€23.2m▲ 32.3%€29.7m▲ 28.2%€27.2m▼ 8.5%€21.9m▼ 19.4%€20.4m-
Net result€18.8m▲ 32.0%€24.7m▲ 31.5%€22.3m▼ 9.9%€17.8m▼ 19.9%€20.7m-
EBIT margin26.0%▲ 3.8pp24.6%▼ 1.4pp22.8%▼ 1.8pp20.2%▼ 2.6pp19.9%-
Equity€54.1m▲ 34.3%€73.8m▲ 36.5%€91.1m▲ 23.4%€103.9m▲ 14.1%€123.7m-
Total assets€69.6m▲ 33.8%€90.7m▲ 30.2%€104.7m▲ 15.4%€118.2m▲ 12.9%€140.3m-
Debt€15.5m▲ 32.1%€16.9m▲ 8.6%€13.6m▼ 19.6%€14.2m▲ 4.8%€16.5m-
Working capital€45.7m▲ 49.9%€65.0m▲ 42.2%€82.7m▲ 27.2%€95.3m▲ 15.3%€116.4m-
Staff (FTE)220.3▲ 14.0%237.4▲ 7.8%262.4▲ 10.5%268▲ 2.1%263.5-
Result per fiscal year
Operating resultNet result
The operating result is €20.4m in 2025, compared with €21.9m in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €140.3m
Fixed assets
€7.5m ▼ 15.1%
Current assets
€132.7m ▲ 21.4%
Equity and liabilities €140.3m
Equity
€123.7m ▲ 19.0%
Provisions
€50,000 =
Debt
€16.5m ▲ 16.4%
Debt's share of the balance-sheet total falls from 12.0% to 11.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22.3m▼
2023 · €23.6m
Cash flow
€22.6m▲
2023 · €19.5m
Current ratio
8.10▲
2023 · 7.82
Quick ratio
7.26▲
2023 · 6.63
Debt to equity
0.13▼
2023 · 0.14
ROE
16.7%▼
2023 · 17.2%
ROA
14.7%▼
2023 · 15.1%
Interest coverage
12.48▼
2023 · 30.65
Debt ≤ 1 year
€16.4m▲
2023 · €14.0m
Debt > 1 year
€141,027▲
2023 · €69,682
Income taxes
€3.0m▼
2023 · €4.1m
Staff costs
€17.1m▲
2023 · €17.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 344 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 98% are still going.
- Large
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0%
went bankrupt
2.3%
stopped otherwise
98%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 344 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €89.0m | €120.7m | €119.3m | €108.2m | €102.6m | - |
| Non-recurring operating income76A | - | €23,645 | €0 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €75.3m | €75.7m | €69.0m | €64.9m | - |
| Remuneration, social security and pensions62 | - | €14.5m | €16.0m | €17.0m | €17.1m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.4m | €2.0m | €1.9m | €1.7m | €1.9m | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €195,005 | - |
| Other operating charges640/8 | - | €208,126 | €202,342 | €324,511 | €309,316 | - |
| Non-recurring operating charges66A | - | €308,414 | €57,123 | €0 | €7,001 | - |
| Gross operating margin9900 | €37.8m | €46.7m | €45.3m | €41.0m | €39.9m | - |
| Operating profit (loss)9901 | €23.2m | €29.7m | €27.2m | €21.9m | €20.4m | - |
| Financial income75/76B | - | €876,173 | €359,621 | €834,700 | €5.0m | - |
| Recurring financial income75 | €64,134 | €876,173 | €359,621 | €834,700 | €5.0m | - |
| Financial charges65/66B | - | €859,538 | €810,838 | €769,429 | €1.8m | - |
| Recurring financial charges65 | €584,989 | €859,538 | €810,838 | €769,429 | €1.8m | - |
| Profit (loss) for the period before taxes9903 | €22.7m | €29.7m | €26.7m | €22.0m | €23.6m | - |
| Income taxes67/77 | €3.8m | €5.0m | €4.4m | €4.1m | €3.0m | - |
| Profit (loss) for the period9904 | €18.8m | €24.7m | €22.3m | €17.8m | €20.7m | - |
| Profit (loss) for the period to be appropriated9905 | €18.8m | €24.7m | €22.3m | €17.8m | €20.7m | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €69.6m | €90.7m | €104.7m | €118.2m | €140.3m | - |
| Fixed assets21/28 | €8.5m | €8.9m | €8.8m | €8.9m | €7.5m | - |
| Tangible fixed assets22/27 | €8.5m | €8.9m | €8.7m | €8.9m | €7.2m | - |
| Land and buildings22 | - | €5.4m | €5.1m | €5.5m | €4.4m | - |
| Plant, machinery and equipment23 | - | €2.6m | €2.3m | €2.0m | €1.2m | - |
| Furniture and vehicles24 | - | €770,181 | €1.0m | €1.2m | €1.4m | - |
| Leasing and similar rights25 | - | €164,414 | €240,982 | €156,616 | €263,992 | - |
| Financial fixed assets28 | €23,971 | €24,971 | €28,080 | €24,028 | €301,671 | - |
| Current assets29/58 | €61.2m | €81.8m | €95.9m | €109.3m | €132.7m | - |
| Amounts receivable after more than one year29 | - | - | - | - | €357,278 | - |
| Other amounts receivable291 | - | - | - | - | €357,278 | - |
| Stocks and contracts in progress3 | €8.3m | €17.0m | €22.3m | €16.7m | €13.7m | - |
| Stocks30/36 | - | €17.0m | €22.3m | €16.7m | €13.7m | - |
| Amounts receivable within one year40/41 | €7.5m | €11.0m | €10.9m | €9.1m | €8.6m | - |
| Trade receivables40 | - | €9.6m | €9.4m | €7.5m | €7.4m | - |
| Other amounts receivable41 | - | €1.4m | €1.5m | €1.6m | €1.2m | - |
| Current investments50/53 | €11.5m | €26.7m | €32.8m | €60.5m | €74.4m | - |
| Cash at bank and in hand54/58 | €33.9m | €27.0m | €29.9m | €23.0m | €35.5m | - |
| Deferred charges and accrued income490/1 | - | €3,088 | €0 | - | €172,159 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €69.6m | €90.7m | €104.7m | €118.2m | €140.3m | - |
| Equity10/15 | €54.1m | €73.8m | €91.1m | €103.9m | €123.7m | - |
| Contributions10/11 | €4.1m | €4.1m | €4.1m | €4.1m | €4.0m | - |
| Capital10 | - | €4.1m | €4.1m | €4.1m | €4.0m | - |
| Issued capital100 | - | €4.1m | €4.1m | €4.1m | €4.0m | - |
| Reserves13 | €50.0m | €69.7m | €87.0m | €99.9m | €119.7m | - |
| Non-distributable reserves130/1 | - | €406,430 | €406,430 | €406,430 | €404,760 | - |
| Legal reserve130 | - | €406,430 | €406,430 | €406,430 | €404,760 | - |
| Distributable reserves133 | - | €69.3m | €86.6m | €99.5m | €119.2m | - |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | - |
| Provisions for liabilities and charges160/5 | - | €50,000 | €50,000 | €50,000 | €50,000 | - |
| Other liabilities and charges164/5 | - | €50,000 | €50,000 | €50,000 | €50,000 | - |
| Amounts payable17/49 | €15.5m | €16.9m | €13.6m | €14.2m | €16.5m | - |
| Amounts payable after more than one year17 | €90,054 | €104,798 | €140,365 | €69,682 | €141,027 | - |
| Financial debts170/4 | - | €104,798 | €140,365 | €69,682 | €141,027 | - |
| Amounts payable within one year42/48 | €15.4m | €16.7m | €13.3m | €14.0m | €16.4m | - |
| Current portion of amounts payable after more than one year42 | - | €66,969 | €80,718 | €70,683 | €99,899 | - |
| Trade debts44 | €7.6m | €8.9m | €5.8m | €6.3m | €8.8m | - |
| Suppliers440/4 | - | €8.9m | €5.8m | €6.3m | €8.8m | - |
| Advances received on contracts in progress46 | - | €1,650 | €1,650 | €1,650 | - | - |
| Taxes, remuneration and social security45 | - | €2.8m | €2.4m | €2.6m | €2.5m | - |
| Taxes450/3 | - | €244,857 | €253,422 | €400,057 | €250,164 | - |
| Remuneration and social security454/9 | - | €2.6m | €2.1m | €2.2m | €2.2m | - |
| Other amounts payable47/48 | - | €5.0m | €5.0m | €5.0m | €5.0m | - |
| Accrued charges and deferred income492/3 | - | €4,724 | €159,514 | €160,000 | €0 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18.8m | €24.7m | €22.3m | €17.8m | €20.7m | - |
| + Depreciation and write-downs630 | €2.4m | €2.0m | €1.9m | €1.7m | €1.9m | - |
| Operating cash flow (approximation) | €21.2m | €26.7m | €24.2m | €19.5m | €22.6m | - |
| Investment in fixed assets (approximation) | - | -€2.5m | -€1.7m | -€1.8m | - | - |
| Change in cash | - | -€6.9m | €3.0m | -€7.0m | - | - |
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
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 11 days late
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €100mEq €103.9m ▲14.1%
6 profitable years in a row build equity to €103.9m.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €24.7m ▲31.5%
Operating result €29.7m, net result €24.7m, both a record.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €50mEq €54.1m ▲34.3%
3 profitable years in a row build equity to €54.1m.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 70 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 18 acts read
About the unread acts
We know of 18 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
18 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, Wevelgem · 3 establishment units since 1997
Ground area
6.9 ha
Building footprint
3.9 ha
3 parcels, Flanders. Linked by address, not a title deed.
4
companies at this address
See who is registered here
3 establishment units
BRUSTOR-PROSTOR-SUNPROTECTION
since 19972.041.088.252
BRUSTOR-PROSTOR-SUNPROTECTION
since 20092.183.077.248
BRUSTOR-PROSTOR-SUNPROTECTION
since 20262.388.884.425
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34029B0459/00E000 | Flanders | 4.1 ha | 1 · 3.1 ha | - |
| 33009C1032/00D002 | Flanders | 1.4 ha | - | - |
| 34353B0774/00A000 | Flanders | 1.3 ha | 1 · 7,640 m² | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 owners · 1 holdingChain of control
- LISACO HOLDING
- BRUSTOR
Highest known parent: LISACO HOLDING. The sources do not say who stands above it.
Owners 2
- LISACO HOLDINGparent76%
-
24%
Holdings 1
- Brustor US Holding Inc.USsubsidiarySourceown accounts 2025100%
According to the 2025 annual accounts of BRUSTOR and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 6,107 EUR awarded · 6,107 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,279 EUR | 2,279 EUR |
| 2024 | 1 | 3,093 EUR | 3,093 EUR |
| 2023 | 1 | 735 EUR | 735 EUR |
Schemes
Recognitions · licences · registrations
Legal Entity Identifier
875500XE6XJ8WVQ0UX97
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Of 598 companies in sector 13929 we hold annual accounts for 236. 8 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded04-11-1988
Fiscal year end31-12
Activities, NACEBEL 2025
13929Manufacture of textiles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435751318
Also
9925:BE0435751318
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.