CAVALRY TWILL
ActiveSummary
CAVALRY TWILL has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €252,153 and a net result of €67,148. Equity is growing by ~35.4% per year across the filed fiscal years. Its solvency ranks better than 76% of 18626 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability90▼-3
Solvency90▲+12
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 2.36 against 2.02 in 2024; short-term debt: 11.8% and cash: 12.8% of total assets), and 34.9% 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
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
65.1%
Return on assets
17.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
27 d late
2023
34 d early
2022
29 d late
2021
26 d late
2020
19 d late
2019
27 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 17 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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. Usually files around 27 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€67,148=
2024 · €67,141
Working capital
€62,204▲ 30.6%
2024 · €47,628
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail 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
Operating result€33,937▲ 82.9%€18,119▼ 46.6%€32,778▲ 80.9%€48,490▲ 47.9%€40,903▼ 15.6%
Net result€18,096within the sector's middle half▲ 248%€5,282within the sector's middle half▼ 70.8%€48,526above the sector's middle half▲ 819%€67,141above the sector's middle half▲ 38.4%€67,148above the sector's middle half=
Equity€64,056within the sector's middle half▲ 39.4%€69,338within the sector's middle half▲ 8.2%€117,864above the sector's middle half▲ 70.0%€185,005above the sector's middle half▲ 57.0%€252,153above the sector's middle half▲ 36.3%
Total assets€314,676within the sector's middle half▼ 0.4%€296,185within the sector's middle half▼ 5.9%€323,191above the sector's middle half▲ 9.1%€350,651above the sector's middle half▲ 8.5%€387,230above the sector's middle half▲ 10.4%
Debt€250,620▼ 7.2%€226,847▼ 9.5%€205,327▼ 9.5%€165,646▼ 19.3%€135,077▼ 18.5%
Working capital-€27,414below the sector's middle half▲ 14.0%-€35,892below the sector's middle half▼ 30.9%-€2,881within the sector's middle half▲ 92.0%€47,628within the sector's middle half€62,204within the sector's middle half▲ 30.6%
Solvency20.4%within the sector's middle half▲ 5.8pp23.4%within the sector's middle half▲ 3.1pp36.5%within the sector's middle half▲ 13.1pp52.8%within the sector's middle half▲ 16.3pp65.1%above the sector's middle half▲ 12.4pp
Current ratio0.50below the sector's middle half▲ 0.140.36below the sector's middle half▼ 0.140.95within the sector's middle half▲ 0.592.02within the sector's middle half▲ 1.072.36within the sector's middle half▲ 0.34
Return on assets (ROA)5.8%within the sector's middle half▲ 4.1pp1.8%within the sector's middle half▼ 4.0pp15.0%above the sector's middle half▲ 13.2pp19.1%above the sector's middle half▲ 4.1pp17.3%above the sector's middle half▼ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 16% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €387,230
Fixed assets
€279,440 ▲ 9.0%
Current assets
€107,791 ▲ 14.4%
Equity and liabilities €387,230
Equity
€252,153 ▲ 36.3%
Debt
€135,077 ▼ 18.5%
Debt's share of the balance-sheet total falls from 47.2% to 34.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€53,916▼
2024 · €59,939
Cash flow
€80,161▲
2024 · €78,591
Debt to equity
0.54▼
2024 · 0.90
ROE
26.6%▼
2024 · 36.3%
Interest coverage
8.19▲
2024 · 7.45
Debt ≤ 1 year
€45,587▼
2024 · €46,571
Debt > 1 year
€86,617▼
2024 · €116,197
Income taxes
€9,161▼
2024 · €11,248
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% 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
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 31,370 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,305 | €11,450 | €11,450 | €11,450 | €13,013 | ▲ 13.7% |
| Other operating charges640/8 | €4,531 | €4,494 | €4,928 | €5,119 | €6,349 | ▲ 24.0% |
| Gross operating margin9900 | €48,773 | €34,063 | €49,155 | €65,058 | €60,265 | ▼ 7.4% |
| Operating profit (loss)9901 | €33,937 | €18,119 | €32,778 | €48,490 | €40,903 | ▼ 15.6% |
| Financial income75/76B | - | - | €31,415 | €37,948 | €41,990 | ▲ 10.7% |
| Recurring financial income75 | - | - | €31,415 | €37,948 | €41,990 | ▲ 10.7% |
| Financial charges65/66B | €11,965 | €10,717 | €9,406 | €8,049 | €6,585 | ▼ 18.2% |
| Recurring financial charges65 | €11,965 | €10,717 | €9,406 | €8,049 | €6,585 | ▼ 18.2% |
| Profit (loss) for the period before taxes9903 | €21,972 | €7,403 | €54,786 | €78,389 | €76,309 | ▼ 2.7% |
| Income taxes67/77 | €3,875 | €2,121 | €6,260 | €11,248 | €9,161 | ▼ 18.6% |
| Profit (loss) for the period9904 | €18,096 | €5,282 | €48,526 | €67,141 | €67,148 | = |
| Profit (loss) for the period to be appropriated9905 | €18,096 | €5,282 | €48,526 | €67,141 | €67,148 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €314,676 | €296,185 | €323,191 | €350,651 | €387,230 | ▲ 10.4% |
| Fixed assets21/28 | €287,701 | €276,252 | €267,902 | €256,452 | €279,440 | ▲ 9.0% |
| Tangible fixed assets22/27 | €281,501 | €270,052 | €258,602 | €247,152 | €270,140 | ▲ 9.3% |
| Land and buildings22 | €281,501 | €270,052 | €258,602 | €247,152 | €235,703 | ▼ 4.6% |
| Furniture and vehicles24 | - | - | - | €0 | €34,437 | - |
| Financial fixed assets28 | €6,200 | €6,200 | €9,300 | €9,300 | €9,300 | = |
| Current assets29/58 | €26,975 | €19,934 | €55,289 | €94,199 | €107,791 | ▲ 14.4% |
| Amounts receivable within one year40/41 | €16,567 | €10,539 | €37,881 | €55,819 | €56,420 | ▲ 1.1% |
| Trade receivables40 | €7,000 | - | - | €11,193 | €9,880 | ▼ 11.7% |
| Other amounts receivable41 | €9,567 | €10,539 | €37,881 | €44,627 | €46,540 | ▲ 4.3% |
| Cash at bank and in hand54/58 | €10,279 | €9,266 | €17,127 | €38,218 | €49,422 | ▲ 29.3% |
| Deferred charges and accrued income490/1 | €129 | €129 | €281 | €161 | €1,950 | ▲ 1,110% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €314,676 | €296,185 | €323,191 | €350,651 | €387,230 | ▲ 10.4% |
| Equity10/15 | €64,056 | €69,338 | €117,864 | €185,005 | €252,153 | ▲ 36.3% |
| Contributions10/11 | €6,250 | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Reserves13 | €39,709 | €39,709 | €39,709 | €39,709 | €39,709 | = |
| Non-distributable reserves130/1 | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Reserves not available under the articles1311 | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Distributable reserves133 | €37,834 | €37,834 | €37,834 | €37,834 | €37,834 | = |
| Profit (loss) carried forward14 | €18,096 | €23,378 | €71,905 | €139,046 | €206,194 | ▲ 48.3% |
| Amounts payable17/49 | €250,620 | €226,847 | €205,327 | €165,646 | €135,077 | ▼ 18.5% |
| Amounts payable after more than one year17 | €196,231 | €170,929 | €144,275 | €116,197 | €86,617 | ▼ 25.5% |
| Financial debts170/4 | €196,231 | €170,929 | €144,275 | €116,197 | €86,617 | ▼ 25.5% |
| Amounts payable within one year42/48 | €54,389 | €55,825 | €58,170 | €46,571 | €45,587 | ▼ 2.1% |
| Current portion of amounts payable after more than one year42 | €24,021 | €28,187 | €26,653 | €28,078 | €29,580 | ▲ 5.4% |
| Financial debts43 | €9 | €9 | - | - | - | - |
| Credit institutions430/8 | €9 | €9 | - | - | - | - |
| Trade debts44 | €2,963 | €514 | €260 | €2,182 | €1,004 | ▼ 54.0% |
| Suppliers440/4 | €2,963 | €514 | €260 | €2,182 | €1,004 | ▼ 54.0% |
| Taxes, remuneration and social security45 | €8,357 | €6,401 | €10,425 | €16,311 | €15,002 | ▼ 8.0% |
| Taxes450/3 | €7,357 | €6,401 | €10,425 | €16,302 | €14,993 | ▼ 8.0% |
| Remuneration and social security454/9 | €1,000 | - | - | €9 | €9 | = |
| Other amounts payable47/48 | €19,039 | €20,713 | €20,832 | - | - | - |
| Accrued charges and deferred income492/3 | - | €93 | €2,882 | €2,878 | €2,874 | ▼ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,096 | €5,282 | €48,526 | €67,141 | €67,148 | = |
| + Depreciation and write-downs630 | €10,305 | €11,450 | €11,450 | €11,450 | €13,013 | ▲ 13.7% |
| Operating cash flow (approximation) | €28,401 | €16,731 | €59,976 | €78,591 | €80,161 | ▲ 2.0% |
| Investment in fixed assets (approximation) | - | €0 | -€3,100 | €0 | -€36,000 | - |
| Change in cash | - | -€1,014 | €7,861 | €21,091 | €11,204 | ▼ 46.9% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €67,148 ▲0%
Net result €67,148, the highest in the series.
31-12
Financial
Equity above €200,000Eq €252,153 ▲36.3%
6 profitable years in a row build equity to €252,153.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 2.02
Current ratio from 0.95 to 2.02; short-term debt falls from €58,170 to €46,571.
31-12
Financial
Equity above €150,000Eq €185,005 ▲57%
5 profitable years in a row build equity to €185,005.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €117,864 ▲70%
4 profitable years in a row build equity to €117,864.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
2020
31-12
Financial
Back to profitnet €5,197
Net result €5,197 after 2 loss-making years.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 27 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 22 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 22 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2006
Ground area
900 m²
Building footprint
496 m²
Volume, LiDAR
4,798 m³
Parcel 21618B0282/00P002, Brussels · tallest building 22.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Montjoielaan 184, 1180 Ukkel
since 20062.151.243.531
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21618B0282/00P002 | Brussels | 900 m² | 1 · 496 m² | 22.6 m · 2 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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NICOLE MEN
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M. CONCEPT
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Of 6,495 companies in sector 47716 we hold annual accounts for 2,441. 1,708 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 (pre-2019)
Founded12-12-2005
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0877851978
Also
9925:BE0877851978
Registered
09-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.