Checked.be
Active
BE 0744.492.321Private limited company
BUT NOT ONLY
Rue Haute(BUZ) 14 ·6230 Pont-à-Celles, Belgium· 6 yrs active
Sector: Agents in the wholesale of food, beverages and tobacco
(46170)
Conclusion
The computed 12-month bankruptcy probability of BUT NOT ONLY is 2.9% (moderate). The 2024 annual accounts show equity of €43k and a net result of €-6k. Equity is growing by ~20.1% per year across the filed fiscal years. Its solvency ranks better than 60% of 15880 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €43k |
| Net result | €-6k |
| Better than sector | 60% |
| Active | 6 yrs |
Financial profile
65
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
52
Profitability
0
Solvency
96
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
52
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€2k
estimate, not credit advice
Score history
55
2020
48
2021
27
2022
100
2023
52
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.09 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.84 (≥ 1.0)
+5
Leverage
Debt/equity 0.94 (< 1.0)
+10
Profitability
Negatieve ROE -14%
-10
Interest coverage
Interest coverage -3.6× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-08-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Net result: growth of ~5%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 51.5% | 39.5% | |
| Net result | €-6k | €5k | |
| Equity | €43k | €56k | |
| Gross operating margin | €295 | €26k | |
| Total assets | €84k | €175k |
€-4k
-
20-24
€-6k
-
20-24
€-5k
-
20-24
€84k
-4.2%
20-24
€43k
-12.4%
20-24
€43k
-9.1%
20-24
€3k
-
20-24
€41k
+6.3%
20-24
€39k
+2.2%
20-24
2.09
-6.1%
20-24
1.84
-12.1%
20-24
51.5%
-8.5%
20-24
0.94
+21.3%
20-24
-14.1%
-
20-24
-7.3%
-
20-24
-3.63
-
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €-4k | €41k | €-7k | €-6k | €-5k |
| Net profit | €-6k | €35k | €-9k | €-8k | €-7k |
| Cash flow | €-5k | €37k | €-8k | €-6k | €-5k |
| Staff costs | - | - | - | - | - |
| Income taxes | - | €3k | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €84k | €88k | €77k | €48k | €29k |
| Equity | €43k | €49k | €14k | €23k | €23k |
| Debt | €41k | €38k | €63k | €25k | €6k |
| of which ≤ 1y | €39k | €38k | €63k | €25k | €6k |
| of which > 1y | - | - | - | - | - |
| Working capital | €43k | €47k | €10k | €18k | €21k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 2.09 | 2.22 | 1.17 | 1.73 | 4.50 |
| Quick ratio | 1.84 | 2.10 | 1.17 | 1.73 | 4.50 |
| Working capital ratio | 50.8% | 53.6% | 13.6% | 37.6% | 72.3% |
| Solvency | 51.5% | 56.3% | 18.0% | 48.3% | 79.4% |
| Debt / equity | 0.94 | 0.78 | 4.57 | 1.07 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | -3.63 | 97.67 | -7.89 | -42.14 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -7.3% | 40.5% | -12.2% | -15.6% | -25.0% |
| ROE | -14.1% | 71.9% | -68.2% | -32.4% | -31.5% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €84k | €88k | €77k | €48k | €29k |
| Fixed assets | 21/28 | €2k | €2k | €3k | €5k | €2k |
| Tangible fixed assets | 22/27 | €2k | €2k | €3k | €5k | €2k |
| Current assets | 29/58 | €82k | €85k | €74k | €43k | €27k |
| Stocks & contracts in progress | 3 | €10k | €5k | - | - | - |
| Amounts receivable within one year | 40/41 | €43k | €26k | €46k | €11k | €2k |
| Cash & bank | 54/58 | €29k | €54k | €28k | €32k | €25k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €84k | €88k | €77k | €48k | €29k |
| Equity | 10/15 | €43k | €49k | €14k | €23k | €23k |
| Contributions / capital | 10/11 | €38k | €38k | €38k | €38k | - |
| Accumulated profits (losses) | 14 | €5k | €11k | €-24k | €-15k | €-7k |
| Amounts payable | 17/49 | €41k | €38k | €63k | €25k | €6k |
| Amounts payable within one year | 42/48 | €39k | €38k | €63k | €25k | €6k |
| Trade debts payable within one year | 44 | €19k | €15k | €49k | €21k | €6k |
| Income statement | ||||||
| Gross operating margin | 9900 | €295 | €44k | €-6k | €-6k | €-5k |
| Operating result | 9901 | €-5k | €39k | €-9k | €-7k | €-7k |
| Financial income | 75 | - | €0 | - | - | - |
| Financial charges | 65 | €1k | €417 | €863 | €140 | €98 |
| Result before taxes | 9903 | €-6k | €39k | €-9k | €-8k | €-7k |
| Income taxes | 67/77 | - | €3k | - | - | - |
| Net result for the period | 9904 | €-6k | €35k | €-9k | €-8k | €-7k |
| Result to be appropriated | 9905 | €-6k | €35k | €-9k | €-8k | €-7k |
Legal Structure
| NACE primary | Agents in the wholesale of food, beverages and tobacco(46170) |
| Legal form | Private limited company(610) |
| Incorporation | 26-02-2020 |
| Status | Active |
| Postal code | 6230 |
Establishment units
BUT NOT ONLY
since 20202.300.660.945
Wine-Side
since 20222.338.716.817
Real-estate footprint
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52009B0173/00G000 | Wallonia | 1,074 m² | 1 · 124 m² | - |
| 25782D0927/00A000 | Wallonia | 56 m² | 1 · 87 m² | 11.6 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Back to profitnet €35k
Net result €35k after 3 loss-making years.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 89 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Agents in the wholesale of food, beverages and tobacco46170Non-specialised retail sale with food, beverages or tobacco predominating47110Retail trade47112Retail sale of wines and spirits47251Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameFR | BUT NOT ONLY |
| AbbreviationFR | BNO |
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