CREA PACK
ActiveCREA PACK has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.79M and a net result of €313k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 52% of 71 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
86
/ 100
Excellent▼ -5 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability88▼-7
Solvency86▲+7
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.55 in 2024), but 51.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 17
Relative position
BE, all sectors
reference
Sector 17
higher
← 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
48.8%
Return on assets
8.5%
Age of the figures
8 mo
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-09-2026, 38 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
38 d late
2024
48 d early
2023
42 d early
2022
48 d early
2021
45 d early
2020
2 d early
2019
64 d early
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€313k▼ 8.0%
2024 · €340k
2018: €-116k
2019: €-76k
2020: €38k
2021: €101k
2022: €717k
2023: €7k
2024: €340k
2018 → 2025
Working capital
€1.05M▲ 31.3%
2024 · €797k
2018: €1.13M
2019: €1.05M
2020: €1.03M
2021: €967k
2022: €1.63M
2023: €1.63M
2024: €797k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.07M-€1.79M▲ 67.0%€1.79M▲ 0.4%€1.78M▼ 0.6%€1.79M▲ 0.2%
Operating result€187k-€1.01M▲ 440%€60k▼ 94.1%€444k▲ 645%€386k▼ 13.2%
Net result€101k-€717k▲ 609%€7k▼ 99.0%€340k▲ 4,743%€313k▼ 8.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 13% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.66M
Fixed assets
€1.03M▼ 41.1%
Current assets
€2.63M▲ 17.4%
Equity and liabilities €3.66M
Equity
€1.79M▲ 0.2%
Debt
€1.88M▼ 14.9%
The debt ratio falls from 55.3% to 51.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€798k▼
2024 · €868k
Cash flow
€725k▼
2024 · €764k
Solvency
48.8%▲
2024 · 44.7%
Current ratio
1.66▲
2024 · 1.55
Quick ratio
1.40▲
2024 · 1.24
Debt / equity
1.05▼
2024 · 1.24
ROE
17.5%▼
2024 · 19.1%
ROA
8.5%▲
2024 · 8.5%
Interest coverage
16.80▲
2024 · 13.73
Debt
€1.88M▼
2024 · €2.20M
Debt ≤ 1 year
€1.59M▲
2024 · €1.45M
Debt > 1 year
€283k▼
2024 · €754k
Income taxes
€91k▼
2024 · €99k
Staff costs
€1.86M▲
2024 · €1.84M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.99M€3.66M▼
Fixed assets21/28€1.74M€1.03M▼
Intangible fixed assets21€16k€2k▼
Tangible fixed assets22/27€956k€581k▼
Plant, machinery and equipment23€172k€126k▼
Furniture and vehicles24€3k€4k▲
Leasing and similar rights25€781k€451k▼
Other tangible fixed assets26€483€483=
Financial fixed assets28€772k€444k▼
Current assets29/58€2.24M€2.63M▲
Stocks and contracts in progress3€457k€412k▼
Stocks30/36€457k€412k▼
Amounts receivable within one year40/41€858k€872k▲
Trade receivables40€858k€801k▼
Other amounts receivable41-€72k
Cash at bank and in hand54/58€755k€1.17M▲
Deferred charges and accrued income490/1€174k€177k▲
Equity and liabilities
Total equity and liabilities10/49€3.99M€3.66M▼
Equity10/15€1.78M€1.79M▲
Contributions10/11€75k€75k=
Capital10€75k€75k=
Issued capital100€75k€75k=
Reserves13€855k€855k=
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Distributable reserves133€847k€847k=
Profit (loss) carried forward14€853k€856k▲
Amounts payable17/49€2.20M€1.88M▼
Amounts payable after more than one year17€754k€283k▼
Financial debts170/4€754k€283k▼
Amounts payable within one year42/48€1.45M€1.59M▲
Current portion of amounts payable after more than one year42€453k€470k▲
Trade debts44€197k€481k▲
Suppliers440/4€197k€481k▲
Advances received on contracts in progress46€128k€33k▼
Taxes, remuneration and social security45€320k€294k▼
Taxes450/3€89k€62k▼
Remuneration and social security454/9€230k€232k▲
Other amounts payable47/48€350k€310k▼
Accrued charges and deferred income492/3€4k€5k▲
Income statement
Code20242025
Non-recurring operating income76A€3k€45k▲
Remuneration, social security and pensions62€1.84M€1.86M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€424k€412k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-9k€-2k▲
Other operating charges640/8€5k€4k▼
Gross operating margin9900€2.71M€2.67M▼
Operating profit (loss)9901€444k€386k▼
Financial income75/76B€59k€65k▲
Recurring financial income75€59k€65k▲
Non-recurring financial income76B-€0
Financial charges65/66B€63k€47k▼
Recurring financial charges65€63k€47k▼
Profit (loss) for the period before taxes9903€439k€404k▼
Income taxes67/77€99k€91k▼
Profit (loss) for the period9904€340k€313k▼
Profit (loss) for the period to be appropriated9905€340k€313k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.20M€1.17M▼
Profit (loss) brought forward from the previous period14P€863k€853k▼
Profit to be distributed694/7€350k€310k▼
Return on contributions (dividend)694€275k€240k▼
Directors or managers695€75k€70k▼
Social balance
Average headcount (FTE)908730.129.5▼
The notes to these accounts (28 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 38 days late
2025
04-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €717k ▲609%
Operating result €1.01M, net result €717k, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1MEq €1.07M ▲10.4%
2 profitable years in a row build equity to €1.07M.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €38k
Net result €38k after 2 loss-making years.
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
16 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, Wielsbeke · 1 establishment unit since 1988
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Driekoningenstraat(S.B.V.) 78710 WielsbekeGround area
4.3 ha
Building footprint
3.7 ha
Parcel 37014A0276/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
CREA PACK
since 19882.038.030.574
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37014A0276/00H000 | Flanders | 4.3 ha | 1 · 3.7 ha | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 14,922 EUR awarded · 15,945 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 498 EUR | 480 EUR |
| 2024 | 2 | 7,907 EUR | 9,887 EUR |
| 2023 | 2 | 4,440 EUR | 3,504 EUR |
| 2022 | 2 | 2,077 EUR | 2,074 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
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Satinex
BE 0405.441.687
Waregem · Eq €1.81M
PAPIER HOVA
BE 0471.888.865
Mouscron · Eq €1.83M
Smurfit Westrock Olen
BE 0454.184.880
Olen · Eq €1.84M
Belgian Paper Convertors
BE 0451.618.934
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Of 189 companies in sector 17210 we hold annual accounts for 154. 107 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded17-03-1988
Fiscal year end31-12
Activities, NACEBEL
17210Manufacture of paper and paper products
17250Manufacture of paper and paper products
21250
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.