CALAO
ActiveSummary
The computed 12-month bankruptcy probability of CALAO is 4.4% (elevated). The 2025 annual accounts show negative equity (-€35,044) and a net result of -€18,217. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1577 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-45
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
4.4%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.16 against 0.24 in 2024; short-term debt: 374.8% and cash: 47.3% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
-311.1%
Return on assets
-161.7%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€35,044
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 31-07-2026, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
on the day
2024
28 d late
2023
59 d late
2022
30 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 30 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€43,461
EBIT margin
-19.4%
Net result
-€18,217▲ 15.3%
2024 · -€21,501
Working capital
-€35,351▼ 31.3%
2024 · -€26,921
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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
Turnover€43,461
Operating result€3,519-€8,733▲ 148%-€8,419-€21,076▼ 150%-€17,994▲ 14.6%
Net result€2,343below the sector's middle half-€6,272within the sector's middle half▲ 168%-€8,942below the sector's middle half-€21,501below the sector's middle half▼ 140%-€18,217below the sector's middle half▲ 15.3%
EBIT margin-19.4%
Equity€7,343below the sector's middle half-€13,615below the sector's middle half▲ 85.4%€4,673within the sector's middle half▼ 65.7%-€16,828below the sector's middle half-€35,044below the sector's middle half▼ 108%
Total assets€82,128below the sector's middle half-€90,874below the sector's middle half▲ 10.6%€66,599below the sector's middle half▼ 26.7%€34,916below the sector's middle half▼ 47.6%€11,266below the sector's middle half▼ 67.7%
Debt€74,785-€77,259▲ 3.3%€61,926▼ 19.8%€51,743▼ 16.4%€46,310▼ 10.5%
Working capital-€65,362below the sector's middle half--€18,965within the sector's middle half▲ 71.0%-€16,740within the sector's middle half▲ 11.7%-€26,921within the sector's middle half▼ 60.8%-€35,351below the sector's middle half▼ 31.3%
Solvency8.9%below the sector's middle half-15.0%below the sector's middle half▲ 6.0pp7.0%within the sector's middle half▼ 8.0pp-48.2%below the sector's middle half▼ 55.2pp-311.1%below the sector's middle half▼ 262.9pp
Current ratio0.13below the sector's middle half-0.49below the sector's middle half▲ 0.360.50below the sector's middle half▲ 0.010.24below the sector's middle half▼ 0.260.16below the sector's middle half▼ 0.08
Return on assets (ROA)2.9%within the sector's middle half-6.9%within the sector's middle half▲ 4.0pp-13.4%below the sector's middle half▼ 20.3pp-61.6%below the sector's middle half▼ 48.2pp-161.7%below the sector's middle half▼ 100.1pp
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17,994 in 2025 against €21,076 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11,266
Fixed assets
€4,397 ▼ 83.3%
Current assets
€6,868 ▼ 19.3%
Key figures and ratios
EBITDA
-€404▼
2024 · €2,299
Cash flow
-€626▼
2024 · €1,875
Debt to equity
-1.32▲
2024 · -3.07
Interest coverage
-1.81▼
2024 · 5.42
Debt ≤ 1 year
€42,219▲
2024 · €35,437
Debt > 1 year
€4,091▼
2024 · €16,285
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,038 companies that looked in July 2024 the way this one looks now, 7.3% went bankrupt within 24 months and 82% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.3%
went bankrupt
8.2%
stopped otherwise
82%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 4.4% 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 497,662 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% | 1.7% |
| 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 75% 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 6,038 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €43,461 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €27,581 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,226 | €19,954 | €23,822 | €23,375 | €17,590 | ▼ 24.7% |
| Other operating charges640/8 | €145 | €147 | €477 | €485 | €564 | ▲ 16.3% |
| Non-recurring operating charges66A | €55 | - | - | - | - | - |
| Gross operating margin9900 | €22,945 | €28,834 | €15,881 | €2,784 | €160 | ▼ 94.2% |
| Operating profit (loss)9901 | €3,519 | €8,733 | -€8,419 | -€21,076 | -€17,994 | ▲ 14.6% |
| Financial income75/76B | €0 | - | €1 | - | - | - |
| Recurring financial income75 | €0 | - | €1 | - | - | - |
| Financial charges65/66B | €311 | €526 | €524 | €425 | €223 | ▼ 47.6% |
| Recurring financial charges65 | €311 | €526 | €524 | €425 | €223 | ▼ 47.6% |
| Profit (loss) for the period before taxes9903 | €3,208 | €8,207 | -€8,942 | -€21,501 | -€18,217 | ▲ 15.3% |
| Income taxes67/77 | €864 | €1,935 | - | - | - | - |
| Profit (loss) for the period9904 | €2,343 | €6,272 | -€8,942 | -€21,501 | -€18,217 | ▲ 15.3% |
| Profit (loss) for the period to be appropriated9905 | €2,343 | €6,272 | -€8,942 | -€21,501 | -€18,217 | ▲ 15.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €82,128 | €90,874 | €66,599 | €34,916 | €11,266 | ▼ 67.7% |
| Fixed assets21/28 | €72,754 | €72,902 | €49,775 | €26,400 | €4,397 | ▼ 83.3% |
| Tangible fixed assets22/27 | €72,754 | €72,902 | €49,775 | €26,400 | €4,397 | ▼ 83.3% |
| Plant, machinery and equipment23 | €24,314 | €17,795 | €11,871 | €5,699 | €671 | ▼ 88.2% |
| Furniture and vehicles24 | €45,778 | €53,151 | €36,653 | €20,155 | €3,727 | ▼ 81.5% |
| Leasing and similar rights25 | €393 | €298 | €203 | €108 | - | - |
| Other tangible fixed assets26 | €2,269 | €1,658 | €1,048 | €437 | - | - |
| Current assets29/58 | €9,374 | €17,972 | €16,824 | €8,516 | €6,868 | ▼ 19.3% |
| Stocks and contracts in progress3 | €152 | €183 | €758 | €767 | - | - |
| Stocks30/36 | €152 | €183 | €758 | €767 | - | - |
| Amounts receivable within one year40/41 | €131 | €3,419 | €1,373 | €2,249 | €1,535 | ▼ 31.8% |
| Trade receivables40 | €131 | €3,409 | €181 | €83 | - | - |
| Other amounts receivable41 | - | €10 | €1,192 | €2,167 | €1,535 | ▼ 29.2% |
| Cash at bank and in hand54/58 | €9,003 | €14,280 | €14,693 | €5,500 | €5,333 | ▼ 3.0% |
| Deferred charges and accrued income490/1 | €89 | €90 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €82,128 | €90,874 | €66,599 | €34,916 | €11,266 | ▼ 67.7% |
| Equity10/15 | €7,343 | €13,615 | €4,673 | -€16,828 | -€35,044 | ▼ 108% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €2,343 | €8,615 | -€327 | -€21,828 | -€40,044 | ▼ 83.5% |
| Amounts payable17/49 | €74,785 | €77,259 | €61,926 | €51,743 | €46,310 | ▼ 10.5% |
| Amounts payable after more than one year17 | - | €40,322 | €28,362 | €16,285 | €4,091 | ▼ 74.9% |
| Financial debts170/4 | - | €40,322 | €28,362 | €16,285 | €4,091 | ▼ 74.9% |
| Amounts payable within one year42/48 | €74,737 | €36,936 | €33,564 | €35,437 | €42,219 | ▲ 19.1% |
| Current portion of amounts payable after more than one year42 | - | €11,845 | €11,960 | €12,077 | €12,194 | ▲ 1.0% |
| Trade debts44 | €4,116 | €7,687 | €4,413 | €3,686 | €3,505 | ▼ 4.9% |
| Suppliers440/4 | €4,116 | €7,687 | €4,413 | €3,686 | €3,505 | ▼ 4.9% |
| Taxes, remuneration and social security45 | €1,772 | €1,935 | - | - | - | - |
| Taxes450/3 | €1,772 | €1,935 | - | - | - | - |
| Other amounts payable47/48 | €68,848 | €15,470 | €17,191 | €19,674 | €26,519 | ▲ 34.8% |
| Accrued charges and deferred income492/3 | €48 | - | - | €21 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,343 | €6,272 | -€8,942 | -€21,501 | -€18,217 | ▲ 15.3% |
| + Depreciation and write-downs630 | €19,226 | €19,954 | €23,822 | €23,375 | €17,590 | ▼ 24.7% |
| Operating cash flow (approximation) | €21,569 | €26,227 | €14,880 | €1,875 | -€626 | ▼ 133% |
| Investment in fixed assets (approximation) | - | -€20,103 | -€695 | €0 | €4,412 | - |
| Change in cash | - | €5,277 | €413 | -€9,193 | -€167 | ▲ 98.2% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet -€21,501
Net result drops to -€21,501, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
31-12
Financial
Highest result since 2021net €6,272 ▲168%
Operating result €8,733, net result €6,272, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Waterloo · 1 establishment unit since 2020
Ground area
702 m²
Building footprint
118 m²
Volume, LiDAR
1,164 m³
Parcel 25110B0591/00T006, Wallonia · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
CALAO
since 20202.309.816.755
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110B0591/00T006 | Wallonia | 702 m² | 1 · 118 m² | 12.2 m · 3 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 608 companies in sector 10520 we hold annual accounts for 235. 87 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
Founded27-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
10520Manufacture of food products
Contact
Website
www.glaciercalao.be
E-mail
info@glaciercalao.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0753394050
Registered
31-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.