CLIPPER
ActiveFrom the official registers: KBO 30 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
CLIPPER has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €627,142 and a net result of €9,007. Equity remains stable across the filed financial years (±2.4% per year). Its solvency ranks better than 70% of 261 sector peers (NACE 79, financial year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
Official details
KBO- Status
- Active since 19-09-1994 Normal situation
- Legal form
- Private limited company
- Registered office
- Tweekleinewegenstraat 27, 3001 Leuven
- Activity
- Travel agency activities NACE 79110
- Establishment unit
- 2.069.585.664 3001 Leuven, since 02-01-1995
- Financial year end
- 31 December
- Peppol
- Reachable since 21-11-2024
How it is doing
- Bankruptcy probabilitywithin 12 months
- 0.7%
- Gross margin
- €90,058
- ▲ 17.1%
- Turnover
- ≈ €250,000
- estimated
- Profit
- €9,007
- ▲ 118%
- Equity
- €627,142
- ▲ 1.5%
- Total assets
- €1.4m
- ▲ 11.1%
Why 55raises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed 27-05-2025)lowers riskSize: total assets €1.4mFounded in 1994Equity €627,142 (44.7% of total assets)Show the evidence
Checked score
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 79, micro): better than 62% on solvency, 28% on liquidity, 53% on profitability and 40% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 49 days before the deadline; the sector median (NACE 79) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (1)
Financials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 1 November 2026.
Annual accounts 2024
- Financial year ended
- 31-12-2024
- Filed on
- 26-05-2025
- Format
- abbreviated format
- Reference
- 2025-00106580
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result recovers in 2024; 2024 is 116% above 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 79, Travel agency, tour operator and other reservation service and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 14,766 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96.2% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.7% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 14,766 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,341 | €0 | €2,429 | €519 | ▼ 78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,305 | €41,564 | €42,404 | €42,710 | €43,270 | €60,038 | €65,027 | ▲ 8.3% |
| Other operating charges640/8 | - | - | - | €21,251 | €8,814 | €8,506 | €7,298 | ▼ 14.2% |
| Non-recurring operating charges66A | - | - | - | €9,422 | €596 | €366 | €519 | ▲ 41.8% |
| Gross operating margin9900 | €194,291 | €196,052 | €69,311 | €88,164 | €89,064 | €76,880 | €90,058 | ▲ 17.1% |
| Operating profit (loss)9901 | €126,549 | €145,582 | €19,634 | €14,781 | €36,384 | €7,970 | €17,214 | ▲ 116% |
| Financial income75/76B | - | - | - | €13 | €173 | €609 | €315 | ▼ 48.3% |
| Recurring financial income75 | €232 | €1,759 | €303 | €13 | €173 | €609 | €315 | ▼ 48.3% |
| Financial charges65/66B | - | - | - | €7,941 | €3,163 | €4,259 | €4,811 | ▲ 13.0% |
| Recurring financial charges65 | €11,164 | €8,005 | €7,229 | €7,941 | €3,163 | €4,259 | €4,811 | ▲ 13.0% |
| Profit (loss) for the period before taxes9903 | €115,616 | €139,337 | €12,708 | €6,853 | €33,395 | €4,319 | €12,717 | ▲ 194% |
| Income taxes67/77 | €34,591 | €42,703 | €9,914 | -€2,505 | €3,242 | €191 | €3,710 | ▲ 19× |
| Profit (loss) for the period9904 | €81,025 | €96,634 | €2,794 | €9,358 | €30,153 | €4,128 | €9,007 | ▲ 118% |
| Transfer from tax-exempt reserves789 | - | - | - | €15,167 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €81,025 | €96,634 | €2,794 | €24,525 | €30,153 | €4,128 | €9,007 | ▲ 118% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.3m | €1.3m | €1.2m | €1.2m | €1.3m | €1.3m | €1.4m | ▲ 11.1% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.7m | €0.7m | €0.7m | €0.6m | €0.7m | €0.7m | €0.9m | ▲ 28.2% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €0.7m | €0.9m | ▲ 28.6% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0.7m | €0.9m | ▲ 33.5% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.02m | €0.01m | €0.01m | ▼ 20.9% |
| Furniture and vehicles24 | - | - | - | €0.007m | €0.006m | €0.05m | €0.04m | ▼ 24.1% |
| Financial fixed assets28 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.6m | €0.6m | €0.5m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 12.7% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.4m | €0.4m | ▲ 4.1% |
| Trade receivables40 | - | - | - | €0.06m | €0.1m | €0.3m | €0.4m | ▲ 46.4% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.1m | €0.1m | €0 | ▼ 100% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.4m | €0.4m | €0.3m | €0.3m | €0.4m | €0.1m | €0.09m | ▼ 34.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.008m | €0.01m | €0.04m | €0.003m | ▼ 91.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.2m | €1.2m | €1.3m | €1.3m | €1.4m | ▲ 11.1% |
| Equity10/15 | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 1.5% |
| Contributions10/11 | €0.03m | €0.03m | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves13 | €0.4m | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 1.5% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.01m | €0.01m | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 1.5% |
| Profit (loss) carried forward14 | €162 | €196 | €0.003m | €0.003m | €0.003m | €99 | €205 | ▲ 108% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.8m | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.8m | ▲ 20.3% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 2.0% |
| Financial debts170/4 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 2.0% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.4m | ▲ 240% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.008m | €0.008m | = |
| Trade debts44 | €0.03m | €0.01m | €0.1m | €0.002m | €220 | €0.02m | €0.02m | ▲ 33.7% |
| Suppliers440/4 | - | - | - | €0.002m | €220 | €0.02m | €0.02m | ▲ 33.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.009m | €0.02m | €0.01m | €0.009m | ▼ 11.7% |
| Taxes450/3 | - | - | - | €0.009m | €0.02m | €0.01m | €0.009m | ▼ 11.7% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.09m | €0.09m | €0.4m | ▲ 325% |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.2m | €0.1m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,025 | €96,634 | €2,794 | €9,358 | €30,153 | €4,128 | €9,007 | ▲ 118% |
| + Depreciation and write-downs630 | €45,305 | €41,564 | €42,404 | €42,710 | €43,270 | €60,038 | €65,027 | ▲ 8.3% |
| Operating cash flow (approximation) | €126,330 | €138,198 | €45,198 | €52,068 | €73,424 | €64,166 | €74,034 | ▲ 15.4% |
| Investment in fixed assets (approximation) | - | -€13,236 | -€48,026 | -€14,281 | -€55,474 | -€142,720 | -€272,073 | ▼ 90.6% |
| Change in cash | - | €72,453 | -€119,617 | €25,523 | €12,161 | -€228,894 | -€44,468 | ▲ 80.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 26-05-2025 | 2025-00106580 | |
| 31-12-2023 | abbreviated format | 23-05-2024 | 2024-00097387 | |
| 31-12-2022 | abbreviated format | 31-05-2023 | 2023-00100232 | |
| 31-12-2021 | abbreviated format | 31-05-2022 | 2022-20049454 | |
| 31-12-2020 | abbreviated format | 25-06-2021 | 2021-24600100 | |
| 31-12-2019 | abbreviated format | 28-07-2020 | 2020-35500162 | |
| 31-12-2018 | abbreviated format | 27-09-2019 | 2019-68300072 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41800036 | |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-53100089 | |
| 31-12-2015 | abbreviated format | 30-09-2016 | 2016-64300049 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €594 awarded · €594 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €297 | €297 |
| 2022 | 1 | €297 | €297 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Heidi Ketsman |
|
How the board is organised
- Board ruleHow the board is made up, meets and takes decisions.
- “1, algemene vergadering”1 more provision on this in the deed
Articles of association, deed of 07-02-2024 (in Dutch)
Owners and capital
Capital and shareholders
- 07-02-2024 Converted to unavailable equity
Other provisions of the articles of association
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- 4 more provisions in the deed, see the deed of 07-02-2024
Articles of association, deed of 07-02-2024 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
07-02
Gazette deed
Reappointment: Heidi Ketsman (director)Capital · Capital conversion · Reserve release9 facts ▸
- Capital
- General meeting, 20-12-2023
- Other provision, “aanpassing statuten aan WVV met behoud rechtsvorm, vaststelling toepassing dwingende bepalingen en aanpassing statuten” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden statutenwijziging, opheffing” (deed in Dutch)
- Director reappointment, Heidi Ketsman (director (not named in the articles))
- Purpose change
- Registered-office move, Tweekleinewegenstraat 27 bus 0002,3001 Leuven(Heverlee)
- Amendment of the articles
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CLIPPER
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of June at 14:00
Articles of association, deed of 07-02-2024 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the addresses
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24040B0001/02B000 | Flanders | 1,069 m² | 1 · 297 m² | 4.5 m · 1 |
| 24040A0124/00T000 | Flanders | 339 m² | 1 · 176 m² | 12.0 m · 2 |