CANAL
ActiveSummary
CANAL has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of €913,252. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 62% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▼-3
Solvency81▼-9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190,000 at 30 days acceptable
Liquidity ample (current ratio 2.11 against 2.45 in 2024; short-term debt: 44.4% and cash: 44.9% of total assets), and 44.4% of the assets are financed with debt.
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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
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
55.6%
Return on assets
22.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 10-04-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
134 d early
2023
120 d early
2022
140 d early
2021
68 d early
2020
16 d early
2019
17 d early
← 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 87 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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
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Financials · fiscal year 2025, abbreviated schema
Turnover
€4.9m
EBIT margin
11.4%
Net result
€913,252▼ 19.4%
2024 · €1.1m
Working capital
€2.0m▲ 15.5%
2024 · €1.7m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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€4.9m
Operating result€552,523▲ 32.5%€976,301▲ 76.7%€820,392▼ 16.0%€1.2m▲ 51.3%€1.2m▼ 3.2%
Net result€568,256above the sector's middle half▲ 64.9%€759,455above the sector's middle half▲ 33.6%€654,617above the sector's middle half▼ 13.8%€1.1mabove the sector's middle half▲ 73.1%€913,252above the sector's middle half▼ 19.4%
EBIT margin11.4%
Equity€1.4mabove the sector's middle half▼ 21.3%€1.6mabove the sector's middle half▲ 11.0%€1.7mabove the sector's middle half▲ 3.4%€2.2mabove the sector's middle half▲ 32.0%€2.2mabove the sector's middle half▲ 1.2%
Total assets€2.3mwithin the sector's middle half▼ 6.1%€2.9mabove the sector's middle half▲ 27.5%€3.3mabove the sector's middle half▲ 12.3%€3.4mabove the sector's middle half▲ 4.1%€4.0mabove the sector's middle half▲ 17.8%
Debt€825,932▲ 99.6%€1.3m▲ 56.6%€1.6m▲ 23.3%€1.2m▼ 25.0%€1.8m▲ 48.3%
Working capital€1.3m▼ 30.9%€1.5m▲ 11.8%€1.5m▼ 1.3%€1.7m▲ 15.1%€2.0m▲ 15.5%
Solvency63.7%within the sector's middle half▼ 12.3pp55.4%within the sector's middle half▼ 8.3pp51.1%within the sector's middle half▼ 4.4pp64.8%within the sector's middle half▲ 13.7pp55.6%within the sector's middle half▼ 9.1pp
Staff (FTE)1.3below the sector's middle half1below the sector's middle half▼ 23.1%1within the sector's middle half=3.8within the sector's middle half▲ 280%5.9within the sector's middle half▲ 55.3%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€252,520 ▼ 50.7%
Current assets
€3.7m ▲ 30.0%
Equity and liabilities €4.0m
Equity
€2.2m ▲ 1.2%
Debt
€1.8m ▲ 48.3%
Debt's share of the balance-sheet total rises from 35.2% to 44.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.2m▼
2024 · €1.3m
Cash flow
€962,224▼
2024 · €1.2m
Current ratio
2.11▼
2024 · 2.45
Quick ratio
1.74▼
2024 · 2.02
Debt to equity
0.80▲
2024 · 0.54
ROE
41.1%▼
2024 · 51.6%
ROA
22.9%▼
2024 · 33.4%
Interest coverage
54.82▲
2024 · -463.04
Debt ≤ 1 year
€1.8m▲
2024 · €1.2m
Debt > 1 year
€0▼
2024 · €21,282
Income taxes
€336,286▼
2024 · €338,577
Staff costs
€443,099▲
2024 · €290,980
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 31,349 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 | €4.9m | - | - | - | - | - |
| Non-recurring operating income76A | €3,600 | €0 | - | - | €12,061 | - |
| Goods, raw materials, services and sundry goods60/61 | €4.2m | - | - | - | - | - |
| Remuneration, social security and pensions62 | €29,730 | €70,847 | €71,514 | €290,980 | €443,099 | ▲ 52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,622 | €28,722 | €30,647 | €54,754 | €48,972 | ▼ 10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €30,000 | -€30,000 | ▼ 200% |
| Other operating charges640/8 | €6,540 | €5,185 | €1,846 | €9,629 | €6,016 | ▼ 37.5% |
| Non-recurring operating charges66A | - | - | - | - | €10,207 | - |
| Gross operating margin9900 | €623,415 | €1.1m | €924,399 | €1.6m | €1.7m | ▲ 3.2% |
| Operating profit (loss)9901 | €552,523 | €976,301 | €820,392 | €1.2m | €1.2m | ▼ 3.2% |
| Financial income75/76B | €226,099 | €66,273 | €71,583 | €227,942 | €83,900 | ▼ 63.2% |
| Recurring financial income75 | €58,903 | €66,273 | €71,583 | €74,622 | €83,900 | ▲ 12.4% |
| Non-recurring financial income76B | €167,196 | €0 | - | €153,320 | €0 | ▼ 100% |
| Financial charges65/66B | €16,591 | €27,569 | €21,062 | -€2,798 | €22,798 | ▲ 915% |
| Recurring financial charges65 | €16,591 | €27,569 | €21,062 | -€2,798 | €22,798 | ▲ 915% |
| Profit (loss) for the period before taxes9903 | €762,031 | €1.0m | €870,913 | €1.5m | €1.3m | ▼ 14.3% |
| Transfer to deferred taxes680 | - | - | - | - | €12,395 | - |
| Income taxes67/77 | €193,775 | €255,550 | €216,296 | €338,577 | €336,286 | ▼ 0.7% |
| Profit (loss) for the period9904 | €568,256 | €759,455 | €654,617 | €1.1m | €913,252 | ▼ 19.4% |
| Profit (loss) for the period to be appropriated9905 | €568,256 | €759,455 | €654,617 | €1.1m | €913,252 | ▼ 19.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.3m | €2.9m | €3.3m | €3.4m | €4.0m | ▲ 17.8% |
| Fixed assets21/28 | €107,147 | €108,425 | €270,571 | €512,531 | €252,520 | ▼ 50.7% |
| Intangible fixed assets21 | €74,513 | €55,703 | €60,688 | €30,882 | €142,217 | ▲ 361% |
| Tangible fixed assets22/27 | €21,359 | €11,447 | €61,840 | €92,274 | €90,953 | ▼ 1.4% |
| Plant, machinery and equipment23 | €9,365 | €5,449 | €52,958 | €59,440 | €45,462 | ▼ 23.5% |
| Furniture and vehicles24 | €9,731 | €4,864 | €0 | €2,403 | €19,254 | ▲ 701% |
| Other tangible fixed assets26 | €2,262 | €1,133 | €8,881 | €30,431 | €26,237 | ▼ 13.8% |
| Financial fixed assets28 | €11,275 | €41,275 | €148,043 | €389,375 | €19,350 | ▼ 95.0% |
| Current assets29/58 | €2.2m | €2.8m | €3.0m | €2.9m | €3.7m | ▲ 30.0% |
| Stocks and contracts in progress3 | €221,431 | €325,205 | €379,458 | €508,688 | €662,662 | ▲ 30.3% |
| Stocks30/36 | €221,431 | €325,205 | €379,458 | €508,688 | €662,662 | ▲ 30.3% |
| Amounts receivable within one year40/41 | €788,493 | €975,746 | €1.2m | €927,865 | €1.3m | ▲ 38.4% |
| Trade receivables40 | €782,476 | €975,746 | €1.2m | €927,865 | €1.2m | ▲ 32.2% |
| Other amounts receivable41 | €6,018 | €0 | €25,625 | €0 | €57,626 | - |
| Current investments50/53 | - | - | €550,000 | €650,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1.2m | €1.5m | €826,454 | €793,713 | €1.8m | ▲ 126% |
| Deferred charges and accrued income490/1 | €0 | - | - | - | €2,099 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.3m | €2.9m | €3.3m | €3.4m | €4.0m | ▲ 17.8% |
| Equity10/15 | €1.4m | €1.6m | €1.7m | €2.2m | €2.2m | ▲ 1.2% |
| Contributions10/11 | €118,989 | €118,989 | €118,989 | €118,989 | €118,989 | = |
| Reserves13 | €1.3m | €1.5m | €1.5m | €2.1m | €2.1m | ▲ 1.2% |
| Non-distributable reserves130/1 | €11,899 | €11,899 | €11,899 | €0 | - | - |
| Reserves not available under the articles1311 | €11,899 | €11,899 | €11,899 | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | - | €12,395 | - |
| Distributable reserves133 | €1.3m | €1.5m | €1.5m | €2.1m | €2.1m | ▲ 0.6% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €0 | - | - | - | - | - |
| Environmental obligations163 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €825,932 | €1.3m | €1.6m | €1.2m | €1.8m | ▲ 48.3% |
| Amounts payable after more than one year17 | - | - | €88,598 | €21,282 | €0 | ▼ 100% |
| Advances received on contracts in progress176 | - | - | €88,598 | €21,282 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €825,932 | €1.3m | €1.5m | €1.2m | €1.8m | ▲ 51.0% |
| Current portion of amounts payable after more than one year42 | €27,605 | €43,449 | €43,091 | €0 | - | - |
| Trade debts44 | €435,013 | €606,989 | €817,665 | €465,526 | €660,132 | ▲ 41.8% |
| Suppliers440/4 | €435,013 | €606,989 | €817,665 | €465,526 | €660,132 | ▲ 41.8% |
| Advances received on contracts in progress46 | €37,650 | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €25,664 | €42,999 | €45,305 | €108,871 | €213,391 | ▲ 96.0% |
| Taxes450/3 | €21,743 | €27,068 | €29,876 | €58,060 | €124,109 | ▲ 114% |
| Remuneration and social security454/9 | €3,921 | €15,931 | €15,429 | €50,811 | €89,282 | ▲ 75.7% |
| Other amounts payable47/48 | €300,000 | €600,000 | €600,000 | €600,000 | €900,000 | ▲ 50.0% |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €568,256 | €759,455 | €654,617 | €1.1m | €913,252 | ▼ 19.4% |
| + Depreciation and write-downs630 | €34,622 | €28,722 | €30,647 | €54,754 | €48,972 | ▼ 10.6% |
| Operating cash flow (approximation) | €602,878 | €788,177 | €685,264 | €1.2m | €962,224 | ▼ 19.0% |
| Investment in fixed assets (approximation) | - | -€30,000 | -€192,793 | -€296,715 | €211,040 | ▲ 171% |
| Change in cash | - | €334,655 | -€666,957 | -€32,741 | €1.0m | ▲ 3,157% |
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
10-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
20-01
State Gazette act
Capital & shares · Purpose · RestructuringPermanent representatives: VAN BOGAERT Michaël Marie Thierry Michèle and VAN BOGAERT François Marie Louis Jacques Beatrice · Merger · Accounting effect10 facts ▸
State Gazette act
Capital & shares · Purpose · Restructuring
Permanent representatives: VAN BOGAERT Michaël Marie Thierry Michèle and VAN BOGAERT François Marie Louis Jacques Beatrice · Merger · Accounting effect10 facts ▸
- General meeting, 23-12-2025
- General meeting, 23-12-2025
- Merger, absorption, 23-12-2025
- Accounting effect, 01-10-2025
- Dissolution, 23-12-2025
- Statutes amendment
- Purpose change, Vervanging van Artikel 4 (Voorwerp)
- Permanent representative, VAN BOGAERT Michaël Marie Thierry Michèle
- Permanent representative, VAN BOGAERT François Marie Louis Jacques Beatrice
- Asset transfer detail, De Overgenomen vennootschap bezit geen onroerende goederen
19-01
State Gazette act
Resignations & appointments · RestructuringMerger · Accounting effect · Dissolution7 facts ▸
State Gazette act
Resignations & appointments · Restructuring
Merger · Accounting effect · Dissolution7 facts ▸
- General meeting, 23-12-2025
- Merger, 23-12-2025
- Accounting effect, 01-10-2025
- Dissolution, 23-12-2025
- Share cancellation, aandelen van de Overgenomen vennootschap worden vernietigd
- No new shares, geen nieuwe aandelen uitreiken
- No real estate, geen onroerende goederen
2025
19-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €1.1m ▲73.1%
Operating result €1.2m, net result €1.1m, both a record.
31-12
Financial
Equity above €2mEq €2.2m ▲32%
7 profitable years in a row build equity to €2.2m.
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 2 have been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Katelijne-Waver · 1 establishment unit since 1994
Ground area
5,286 m²
Building footprint
2,500 m²
Volume, LiDAR
12,504 m³
Parcel 12422D0314/00R003, Flanders · tallest building 19.1 m, ±1 floor. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Fortsesteenweg 52, 2860 Sint-Katelijne-Waver
since 19942.068.682.574
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12422D0314/00R003 | Flanders | 5,286 m² | 1 · 2,500 m² | 19.1 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.
Structure & network
Owners and holdings
2 owners · 2 holdingsOwners 2
-
16.67%
-
16.67%
Holdings 2
-
100%
- VERTEGENWOORDIGINGSKANTOOR DUMONT W.J.subsidiarySourceact 21-01-2026100%
According to the 2024 annual accounts of CANAL 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.
Acquisitions and mergers
2 transactionsTook over:RAYNAUD
Took over:VERTEGENWOORDIGINGSKANTOOR W. J. DUMONT
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Identification & contact
Identification
Legal formPrivate limited company
Founded21-09-1994
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
46820Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453478364
Registered
11-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.