Equity
€658,444 ▲ 7.6%
NoGlutenBakery paid out €81,460 in dividends. That is 64% of the 2025 profit.
NoGlutenBakery
Lifetime
19 annual accounts with figures on one time axis, 27 filings since 1999peak €851,133 (2025)
€851,133▲ 29.8%
lowest -€54,449 (2014)
€128,172▲ 12.5%
peak €658,444 (2025)
€658,444▲ 7.6%
€639,286▼ 13.6%
peak 8.4 FTE (2025)
8.4 FTE▲ 25.4%
Board4 names since 2021
2 directorsMartine VERMEIRE and 1 other
Documentsfilings and deeds
22-04-2026100 days before the deadline
2025abbreviated format
Gross margin from €655,761 to €851,133Staff from 6.7 FTE to 8.4 FTE1 director appointed, 1 resignation 21-05Dividend €81,460Cash from €73,906 to €187,236
Key points
from the 2025 annual accountsChecked score
89
Excellent
Financially stronger than 59% of micro companies in food products (NACE 10)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.1% across 3,080 companies (NACE 10, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026highest value
05-2026: 0.2%▼ -0.2 percentage points vs 04-2026lowest value
06-2026: 0.2%● unchanged vs 05-2026lowest value
07-2026: 0.2%● unchanged vs 06-2026lowest value
08-2026: 0.2%● unchanged vs 07-2026lowest value
09-2026: 0.2%● unchanged vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Manufacture of food products (NACE 10)
lowers risk
Founded in 1998
Liquidity: current ratio 1.64, cash €187,236
Equity €658,444 (47.0% of total assets)
Calculation
The band follows from the bankruptcy probability. 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 10, micro). It does better than 64% of them on solvency, 50% on liquidity, 67% on profitability and 53% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as NoGlutenBakery has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NoGlutenBakery itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for NoGlutenBakery. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €55,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.64 (1.33 in 2024), above the usual 1.5. Short-term debt is 35.5% and cash 13.4% of total assets. However, 53% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 22-04-2026, 100 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
100 days early
2024
36 days early
2023
134 days early
2022
52 days early
2021
67 days early
2020
73 days early
2019
56 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 74 days before the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% 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 22 April (3 of the last 3 accounts filed within 64 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Martine Vermeire 500 sharesdeed of 02-12-2021
- Bruno De Roover 250 sharesdeed of 02-12-2021
Recent changes
1 director appointed, 1 resignation
Resignation: Bruno De Roover · Appointment: BV NOVA · Permanent representative: Bruno De Roover · General meeting of 29-04-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0464192906
Legal-form change
General meeting of 13-07-2023 · Gazette deed
Merger: NoGlutenBakery takes over Luc De Roover
Company renamed from CAKE & C° to NoGlutenBakery · Capital increase to €69,000 · Capital from €19,000 to €69,000, 1,348 new shares · General meeting of 06-01-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| NoGlutenBakery Zele | €1.4m | €0.9m | 47.0% | 8.4 |
| PANIFEX Ninove | €1.1m | €0.6m | 24.7% | 9.4 |
| VAN EECKHOUT Zemst | €1.5m | €0.8m | 26.7% | 10 |
| SIBAVO Nazareth-De Pinte | €0.7m | €0.5m | -48.9% | 8.5 |
| BAKKERIJGRONDSTOFFEN SOENENS Ingelmunster | €2.3m | €1.0m | 30.4% | 13.5 |
| BAKKERIJ LEON VERMOESEN EN ZONEN Affligem | €1.1m | €0.7m | 54.2% | 11.3 |
| Daily Bread Dessel | €1.2m | €1.3m | 39.6% | 11.5 |
These companies have the same main activity as NoGlutenBakery: manufacture of food products (NACE 10711). They are comparable in size and age: total assets between €715,000 and €2.3m, founded between 1982 and 2006.
Official details
Source: KBO- Status
- Active since 24-09-1998Normal situation
- Activity
- Manufacture of food productsNACE 10711and 4 others
- Joint committees
- 220White-collar workers in the food industry
- 201Independent retail · annual accounts 2024
- Establishment unit
- 2.089.066.0369240 Zele, since 03-11-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 14-01-2025
Annual accounts 2025
- ≈ €2.0mestimated
- €1.4m▲ 3.6%
- Employeeson 31-12-2025
- 9=
- Filing
- Filed on 22-04-2026, 100 days before the end of the filing period
Insights on NoGlutenBakery
NoGlutenBakery files the abbreviated format. That format states no turnover. The gross margin rose from €139,627 in 2007 to €851,133 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about NoGlutenBakery
- What is the company number of NoGlutenBakery?
- The company number of NoGlutenBakery is 0464.192.906. The VAT number is the same number with BE in front: BE 0464.192.906.
- Where is NoGlutenBakery based?
- The registered office is at Baaikensstraat 8, 9240 Zele.Company details
- What does NoGlutenBakery do?
- According to the KBO register, the main activity is manufacture of food products (NACE 10711).
- What is the legal form of NoGlutenBakery?
- NoGlutenBakery is a private limited company (BV).
- When was NoGlutenBakery founded?
- NoGlutenBakery was founded on 24-09-1998.
- Is NoGlutenBakery still active?
- Yes, NoGlutenBakery is an active enterprise in the KBO register.
- How many employees does NoGlutenBakery have?
- NoGlutenBakery had an average of 8.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does NoGlutenBakery fall under?
- In its 2024 annual accounts, NoGlutenBakery states joint committees 220 (White-collar workers in the food industry) and 201 (Independent retail).
- What is the turnover of NoGlutenBakery?
- The turnover in financial year 2025 is ≈ €2.0m. This figure is estimated from the gross margin of €851,133 and 2,275 comparable companies of the same size. It probably lies between €1.2m and €3.4m. It is a rough estimate.
- Is NoGlutenBakery profitable?
- In financial year 2025, NoGlutenBakery made a profit of €128,172.
- Where can I find the annual accounts of NoGlutenBakery?
- NoGlutenBakery filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NoGlutenBakery due?
- NoGlutenBakery must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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