CONSTANZ
ActiveFrom the official registers: KBO 29 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
CONSTANZ has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144,781 and a net result of €7,819. Equity has been growing by about 6.5% per year since 2018. Its solvency ranks better than 55% of 13,716 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Official details
KBO- Status
- Active since 14-10-1996 Normal situation
- Legal form
- Private limited company
- Registered office
- Zamanstraat 58, 9100 Sint-Niklaas
- Activity
- Wholesale of clothing, excluding workwear and underwear NACE 46423and 6 others
- Establishment unit
- 2.080.330.393 9100 Sint-Niklaas, since 07-02-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €145,612
- ▼ 17.5%
- Turnover
- ≈ €600,000
- estimated
- Profit
- €7,819
- ▼ 7.5%
- Equity
- €144,781
- ▲ 5.7%
- Total assets
- €307,028
- ▲ 2.8%
- Staff
- 1 FTE
- =
Score breakdownraises riskLiquidity: current ratio 2.84, cash €380, halvedSector: Wholesale trade (NACE 46)lowers riskFounded in 1996Figures for financial year 2025 (filed on 20-08-2026)Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 46, micro). It does better than 55% of them on solvency, 32% on liquidity, 57% on profitability and 57% 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
The company filed its last 7 accounts on average 23 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
2025 annual accounts filed 18 days after the deadline Filed on 18 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00407639.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 18-08-2026
- Format
- micro format
- Reference
- 2026-00407639
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 8% lower than in 2024. It is the second fall in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Companies with the same profile, two years later
Historical observationIn July 2024, 17,041 companies had the same profile as CONSTANZ has now. Two years later, 0.5% had gone bankrupt and 94.4% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CONSTANZ itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for CONSTANZ. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 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 | €5,967 | €6,897 | €930 | €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 | €151,859 | €136,601 | €143,057 | €121,323 | €128,223 | €165,563 | €176,504 | €145,612 | ▼ 17.5% |
| Operating profit (loss)9901 | €17,052 | €6,811 | €21,633 | €17,709 | -€2,086 | €18,667 | €16,344 | €14,963 | ▼ 8.4% |
| Financial income75/76B | - | - | - | €13 | - | €3 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | €2 | €10 | €13 | - | €3 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €1,020 | €1,259 | €1,208 | €956 | €807 | ▼ 15.5% |
| Recurring financial charges65 | €891 | €827 | €662 | €1,020 | €1,259 | €1,208 | €956 | €807 | ▼ 15.5% |
| Profit (loss) for the period before taxes9903 | €16,161 | €5,986 | €20,980 | €16,702 | -€3,345 | €17,463 | €15,388 | €14,156 | ▼ 8.0% |
| Income taxes67/77 | €6,311 | €3,434 | €4,592 | €6,100 | €1,762 | €7,180 | €6,934 | €6,337 | ▼ 8.6% |
| Profit (loss) for the period9904 | €9,850 | €2,552 | €16,388 | €10,602 | -€5,108 | €10,283 | €8,455 | €7,819 | ▼ 7.5% |
| Profit (loss) for the period to be appropriated9905 | €9,850 | €2,552 | €16,388 | €10,602 | -€5,108 | €10,283 | €8,455 | €7,819 | ▼ 7.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €271,444 | €274,713 | €277,289 | €295,158 | €291,344 | €290,400 | €298,766 | €307,028 | ▲ 2.8% |
| Fixed assets21/28 | €5,967 | €3,720 | €2,790 | €25,460 | €18,889 | €12,318 | €6,677 | €1,036 | ▼ 84.5% |
| Tangible fixed assets22/27 | €5,967 | €3,720 | €2,790 | €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 | €265,477 | €270,993 | €274,499 | €269,698 | €272,455 | €278,082 | €292,089 | €305,992 | ▲ 4.8% |
| Stocks and contracts in progress3 | €254,832 | €270,909 | €258,524 | €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 | €7,152 | - | €15,656 | €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 | €3,493 | €85 | €319 | €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 | €271,444 | €274,713 | €277,289 | €295,158 | €291,344 | €290,400 | €298,766 | €307,028 | ▲ 2.8% |
| Equity10/15 | €93,790 | €96,342 | €112,730 | €123,332 | €118,224 | €128,507 | €136,962 | €144,781 | ▲ 5.7% |
| Contributions10/11 | €34,705 | €34,705 | - | €34,705 | €34,705 | €34,705 | €34,705 | €34,705 | = |
| Reserves13 | €6,682 | €6,682 | €6,682 | €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 | €52,403 | €54,955 | €71,343 | €81,945 | €76,837 | €87,120 | €95,575 | €103,394 | ▲ 8.2% |
| Amounts payable17/49 | €177,654 | €178,371 | €164,558 | €171,826 | €173,120 | €161,893 | €161,804 | €162,247 | ▲ 0.3% |
| Amounts payable after more than one year17 | €83,711 | €83,711 | €83,711 | €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 | €88,696 | €89,412 | €75,600 | €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 | €20,618 | €30,993 | €9,692 | €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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,850 | €2,552 | €16,388 | €10,602 | -€5,108 | €10,283 | €8,455 | €7,819 | ▼ 7.5% |
| + Depreciation and write-downs630 | €5,967 | €6,897 | €930 | €5,536 | €6,571 | €6,571 | €5,641 | €5,641 | = |
| Operating cash flow (approximation) | €15,816 | €9,449 | €17,318 | €16,137 | €1,464 | €16,854 | €14,096 | €13,461 | ▼ 4.5% |
| Investment in fixed assets (approximation) | - | -€4,649 | €0 | -€28,206 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,409 | €235 | €17,379 | -€14,272 | -€1,958 | €1,239 | -€2,327 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-08-2026 | 2026-00407639 | NBB |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00467706 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00416879 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00372020 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20241658 | |
| 31-12-2020 | micro format | 27-07-2021 | 2021-41100530 | |
| 31-12-2019 | micro format | 05-10-2020 | 2020-58700245 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-40300497 | |
| 31-12-2017 | micro format | 05-09-2018 | 2018-62000463 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-37100435 |
Comparable companies
These companies have the same main activity as CONSTANZ: wholesale of clothing, excluding workwear and underwear (NACE 46423). They are comparable in size and age: total assets between €266,000 and €436,000, founded between 1989 and 2000.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| CONSTANZ Sint-Niklaas | 1996 | €307,028 | €144,781 | €145,612 | - | €7,819 | - | 2025 |
| B S Kortrijk | 2000 | €289,806 | €35,261 | €141,827 | - | €18,541 | - | 2025 |
| ASPASIA Oudenaarde | 1989 | €334,018 | €71,427 | €132,435 | - | €34,156 | 1.9 | 2025 |
| SOBRUNOL Knokke-Heist | 1992 | €412,867 | €328,880 | €166,417 | - | €6,946 | 2.1 | 2025 |
| E.M. CREATIONS Charleroi | 1999 | €374,516 | €91,184 | €95,157 | €367,867 | €2,181 | - | 2024 |
| J.F. MODE BELGIUM Kapellen | 1993 | €266,229 | €68,912 | €227,713 | - | €4,462 | - | 2026 |
| NEW LOOK DIFFUSION Antwerpen | 1994 | €436,123 | €140,900 | €103,043 | - | €11,835 | 0.9 | 2025 |
They were chosen from the 818 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
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
- end not dated
| Name | Functions and periods |
|---|---|
| Pauwels Pascal |
|
| BOUDRY Hilda |
|
The board according to the articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- One provision in the deed
- Power of attorneyA power of attorney lets someone perform specific acts on the company's behalf.
- One provision in the deed
Articles of association, deed of 01-09-2023 (in Dutch)
Owners and capital
Capital transactions
- 01-09-2023 Converted to unavailable equity · €34,705.10
Other provisions of the articles of association
- Other provisionsThese rules from the articles cover subjects other than the board, the shares, the purpose and the meetings.
- “Gedelegeerd bestuurder, dagelijks bestuur”“Schriftelijke algemene vergadering-jaarvergadering, statutenwijzigingen”“Schriftelijke bijzondere algemene vergadering-datering en verklaring, datum door alle aandeelhouders ondertekend besluit geacht datum…”“Elke aandeelhouder kan op afstand deelnemen via door vennootschap ter beschikking gesteld elektronisch communicatiemiddel, elektronische…”“Formulier opgesteld door raad van bestuur, stemmen per brief of elektronisch”Liquidation distribution: “Onverminderd rechten bevoorrechte schuldeisers betaalt vereffenaar alle schulden naar evenredigheid zonder onderscheid opeisbare en…”6 more provisions in the deed, see the deed of 01-09-2023
Articles of association, deed of 01-09-2023 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from the directors of CONSTANZ. Every other company they run is a node.
History
Acts, filings and financial milestones
01-09
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsResignation: Pauwels Pascal (manager) · Appointments: Pauwels Pascal (director) and BOUDRY Hilda (opvolgend niet statutair bestuurder) · Incorporation11 points ▸
- General meeting, 21-08-2023
- Incorporation, 08-10-1996
- Legal form clause, 01-01-2020, “besloten vennootschap” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden van statutenwijziging, opheffing” (deed in Dutch)
- Director resignation, Pauwels Pascal (manager)
- Director appointment, Pauwels Pascal (director (not named in the articles))
- Director appointment, BOUDRY Hilda (opvolgend niet statutair bestuurder)
- Director discharge, Pauwels Pascal
- Registered office clause, “9100 Sint-Niklaas,Zamanstraat 58” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46443E0360/00H005 | Flanders | 101 m² | 1 · 89 m² | 16.2 m · 4 |