CONSTANZ
ActiveSummary
CONSTANZ has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144,781 and a net result of €7,819. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 54% of 11472 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72=
Solvency72▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 2.84 against 2.75 in 2024; short-term debt: 35% and cash: 0.1% of total assets), but 52.8% of the assets are financed with debt.
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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
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 →
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
47.2%
Return on assets
2.5%
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 18-08-2026, 18 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
18 d late
2024
30 d late
2023
29 d late
2022
29 d late
2021
4 d early
2020
4 d early
2019
66 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 23 days after 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€144,781▲ 5.7%
2024 · €136,962
Total assets
€307,028▲ 2.8%
2024 · €298,766
Net result
€7,819▼ 7.5%
2024 · €8,455
Working capital
€198,404▲ 6.6%
2024 · €186,038
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€17,709▼ 18.1%-€2,086€18,667€16,344▼ 12.4%€14,963▼ 8.4%
Net result€10,602▼ 35.3%-€5,108€10,283€8,455▼ 17.8%€7,819▼ 7.5%
Equity€123,332▲ 9.4%€118,224▼ 4.1%€128,507▲ 8.7%€136,962▲ 6.6%€144,781▲ 5.7%
Total assets€295,158▲ 6.4%€291,344▼ 1.3%€290,400▼ 0.3%€298,766▲ 2.9%€307,028▲ 2.8%
Debt€171,826▲ 4.4%€173,120▲ 0.8%€161,893▼ 6.5%€161,804▼ 0.1%€162,247▲ 0.3%
Working capital€190,639▼ 4.2%€182,948▼ 4.0%€183,064▲ 0.1%€186,038▲ 1.6%€198,404▲ 6.6%
Staff (FTE)1▲ 25.0%1=1=1=1=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €307,028
Fixed assets
€1,036 ▼ 84.5%
Current assets
€305,992 ▲ 4.8%
Equity and liabilities €307,028
Equity
€144,781 ▲ 5.7%
Debt
€162,247 ▲ 0.3%
Debt's share of the balance-sheet total falls from 54.2% to 52.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€20,604▼
2024 · €21,985
Cash flow
€13,461▼
2024 · €14,096
Current ratio
2.84▲
2024 · 2.75
Quick ratio
0.11▼
2024 · 0.13
Debt to equity
1.12▼
2024 · 1.18
ROE
5.4%▼
2024 · 6.2%
ROA
2.5%▼
2024 · 2.8%
Interest coverage
25.53▲
2024 · 23.01
Debt ≤ 1 year
€107,588▲
2024 · €106,051
Debt > 1 year
€49,411▼
2024 · €50,506
Income taxes
€6,337▼
2024 · €6,934
Staff costs
€39,309▼
2024 · €40,301
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 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% | 1.6% |
| 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 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 16,986 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €16,025 | €33,382 | €37,106 | €40,301 | €39,309 | ▼ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,536 | €6,571 | €6,571 | €5,641 | €5,641 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €79,753 | €88,965 | €101,586 | €112,727 | €84,302 | ▼ 25.2% |
| Other operating charges640/8 | €2,300 | €1,391 | €1,632 | €1,491 | €1,397 | ▼ 6.3% |
| Gross operating margin9900 | €121,323 | €128,223 | €165,563 | €176,504 | €145,612 | ▼ 17.5% |
| Operating profit (loss)9901 | €17,709 | -€2,086 | €18,667 | €16,344 | €14,963 | ▼ 8.4% |
| Financial income75/76B | €13 | - | €3 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €13 | - | €3 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €1,020 | €1,259 | €1,208 | €956 | €807 | ▼ 15.5% |
| Recurring financial charges65 | €1,020 | €1,259 | €1,208 | €956 | €807 | ▼ 15.5% |
| Profit (loss) for the period before taxes9903 | €16,702 | -€3,345 | €17,463 | €15,388 | €14,156 | ▼ 8.0% |
| Income taxes67/77 | €6,100 | €1,762 | €7,180 | €6,934 | €6,337 | ▼ 8.6% |
| Profit (loss) for the period9904 | €10,602 | -€5,108 | €10,283 | €8,455 | €7,819 | ▼ 7.5% |
| Profit (loss) for the period to be appropriated9905 | €10,602 | -€5,108 | €10,283 | €8,455 | €7,819 | ▼ 7.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €295,158 | €291,344 | €290,400 | €298,766 | €307,028 | ▲ 2.8% |
| Fixed assets21/28 | €25,460 | €18,889 | €12,318 | €6,677 | €1,036 | ▼ 84.5% |
| Tangible fixed assets22/27 | €25,460 | €18,889 | €12,318 | €6,677 | €1,036 | ▼ 84.5% |
| Furniture and vehicles24 | €23,601 | €17,959 | €12,318 | €6,677 | €1,036 | ▼ 84.5% |
| Other tangible fixed assets26 | €1,860 | €930 | - | - | - | - |
| Current assets29/58 | €269,698 | €272,455 | €278,082 | €292,089 | €305,992 | ▲ 4.8% |
| Stocks and contracts in progress3 | €239,731 | €262,096 | €268,683 | €277,996 | €294,678 | ▲ 6.0% |
| Stocks30/36 | €239,731 | €262,096 | €268,683 | €277,996 | €294,678 | ▲ 6.0% |
| Amounts receivable within one year40/41 | €7,792 | €6,933 | €7,931 | €11,386 | €10,934 | ▼ 4.0% |
| Trade receivables40 | €7,792 | €6,695 | €7,931 | €11,140 | €10,934 | ▼ 1.9% |
| Other amounts receivable41 | - | €238 | - | €245 | - | - |
| Cash at bank and in hand54/58 | €17,698 | €3,426 | €1,468 | €2,707 | €380 | ▼ 86.0% |
| Deferred charges and accrued income490/1 | €4,477 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €295,158 | €291,344 | €290,400 | €298,766 | €307,028 | ▲ 2.8% |
| Equity10/15 | €123,332 | €118,224 | €128,507 | €136,962 | €144,781 | ▲ 5.7% |
| Contributions10/11 | €34,705 | €34,705 | €34,705 | €34,705 | €34,705 | = |
| Reserves13 | €6,682 | €6,682 | €6,682 | €6,682 | €6,682 | = |
| Non-distributable reserves130/1 | €3,471 | €3,471 | - | - | - | - |
| Reserves not available under the articles1311 | €3,471 | €3,471 | - | - | - | - |
| Tax-exempt reserves132 | €3,211 | €3,211 | €3,211 | €3,211 | €3,211 | = |
| Distributable reserves133 | - | - | €3,471 | €3,471 | €3,471 | = |
| Profit (loss) carried forward14 | €81,945 | €76,837 | €87,120 | €95,575 | €103,394 | ▲ 8.2% |
| Amounts payable17/49 | €171,826 | €173,120 | €161,893 | €161,804 | €162,247 | ▲ 0.3% |
| Amounts payable after more than one year17 | €87,521 | €78,366 | €61,628 | €50,506 | €49,411 | ▼ 2.2% |
| Financial debts170/4 | €75,126 | €65,971 | €49,233 | €38,111 | €37,017 | ▼ 2.9% |
| Other amounts payable178/9 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Amounts payable within one year42/48 | €79,058 | €89,507 | €95,018 | €106,051 | €107,588 | ▲ 1.4% |
| Current portion of amounts payable after more than one year42 | €4,074 | €4,155 | €4,238 | €4,322 | €1,094 | ▼ 74.7% |
| Trade debts44 | €6,481 | €18,018 | €15,075 | €27,073 | €25,980 | ▼ 4.0% |
| Suppliers440/4 | €6,481 | €18,018 | €15,075 | €27,073 | €25,980 | ▼ 4.0% |
| Taxes, remuneration and social security45 | €22,709 | €21,061 | €29,431 | €28,383 | €34,241 | ▲ 20.6% |
| Taxes450/3 | €22,642 | €16,649 | €24,591 | €23,673 | €31,293 | ▲ 32.2% |
| Remuneration and social security454/9 | €67 | €4,412 | €4,840 | €4,710 | €2,947 | ▼ 37.4% |
| Other amounts payable47/48 | €45,794 | €46,273 | €46,273 | €46,273 | €46,273 | = |
| Accrued charges and deferred income492/3 | €5,247 | €5,247 | €5,247 | €5,247 | €5,247 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,602 | -€5,108 | €10,283 | €8,455 | €7,819 | ▼ 7.5% |
| + Depreciation and write-downs630 | €5,536 | €6,571 | €6,571 | €5,641 | €5,641 | = |
| Operating cash flow (approximation) | €16,137 | €1,464 | €16,854 | €14,096 | €13,461 | ▼ 4.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€14,272 | -€1,958 | €1,239 | -€2,327 | ▼ 288% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Back to profitnet €10,283
Net result €10,283 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet -€5,108
Net result drops to -€5,108, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €16,388 ▲542%
Operating result €21,633, net result €16,388, both a record.
31-12
Financial
Equity above €100,000Eq €112,730 ▲17%
3 profitable years in a row build equity to €112,730.
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 66 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 36 days late
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Sint-Niklaas · 1 establishment unit since 1997
Ground area
101 m²
Building footprint
89 m²
Volume, LiDAR
1,111 m³
Parcel 46443E0360/00H005, Flanders · tallest building 16.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CONSTANZ
since 19972.080.330.393
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46443E0360/00H005 | Flanders | 101 m² | 1 · 89 m² | 16.2 m · 4 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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YALIN
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Of 1,307 companies in sector 46423 we hold annual accounts for 810. 574 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
Founded14-10-1996
Fiscal year end31-12
Trade name NL
Constanz / Pascal Pauwels Consultancy
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
47711Retail sale of women's outerwear
46425Wholesale trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47721Retail sale of footwear
73300Public relations and communication consultancy
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0458995783
Registered
24-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.