CREADIS
ActiveSummary
CREADIS has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €181,809 and a net result of €21,645. Equity has been growing by about 19% per year since 2019. Its solvency ranks better than 88% of 401 sector peers (NACE 46, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 19-03-2002 Normal situation
- Activity
- Agents in the wholesale of furniture, household goods and hardware NACE 46150
- Joint committees
- 100 Aanvullend Paritair Comité voor de werklieden
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 31-03-2025
- Establishment unit
- 2.095.847.722 8570 Anzegem, since 11-04-2002
- Financial year end
- 31 March
- Peppol
- Reachable since 06-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €54,720
- ▼ 56.8%
- Turnover
- ≈ €250,000
- estimated
- Profit
- €21,645
- ▼ 66.4%
- Equity
- €181,809
- ▲ 13.5%
- Total assets
- €213,874
- ▲ 0.2%
Score breakdownraises riskSize: total assets €213,874lowers riskLiquidity: current ratio 4.79, cash €70,060Founded in 2002Equity €181,809 (85.0% of total assets)Show the evidence
Checked score
Fewer than 1 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 90% of them on solvency, 90% on liquidity, 75% on profitability and 69% on growth.
The bankruptcy probability was computed on 03-11-2026 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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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 16 days before 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
Financials · financial year 2026, micro format
Annual accounts 2026 filed on 27-10-2026 at the NBB all 24 filings
Every figure per financial year
The operating result for 2026 is 63% lower than in 2025.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2024 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | - | - | - |
| Carrying value of the mortgaged assets | €86,660 | €84,068 | - | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,414 | €14,406 | - | €22,410 | €59,530 |
| Depreciation and write-downs of the year | €13,848 | €16,097 | €16,964 | €16,777 | €15,777 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €66,382 | €67,878 | €74,393 | €9,921 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,371 | €11,514 | €10,512 | €13,848 | €16,097 | €16,964 | €16,777 | €15,777 | ▼ 6.0% |
| Other operating charges640/8 | - | - | - | €3,400 | €2,590 | €24,565 | €2,730 | €2,959 | ▲ 8.4% |
| Gross operating margin9900 | €102,723 | €126,901 | €155,481 | €117,984 | €121,614 | €103,812 | €126,686 | €54,720 | ▼ 56.8% |
| Operating profit (loss)9901 | €26,203 | €52,316 | €108,502 | €34,354 | €35,049 | -€12,110 | €97,258 | €35,984 | ▼ 63.0% |
| Financial income75/76B | - | - | - | €2 | - | €1 | €1 | €0 | ▼ 96.0% |
| Recurring financial income75 | €50 | €23 | €30 | €2 | - | €1 | €1 | €0 | ▼ 96.0% |
| Financial charges65/66B | - | - | - | €3,726 | €2,864 | €2,578 | €1,894 | €1,641 | ▼ 13.4% |
| Recurring financial charges65 | €6,174 | €5,005 | €3,945 | €3,726 | €2,864 | €2,578 | €1,894 | €1,641 | ▼ 13.4% |
| Profit (loss) for the period before taxes9903 | €20,136 | €47,334 | €104,588 | €30,630 | €32,185 | -€14,688 | €95,364 | €34,344 | ▼ 64.0% |
| Income taxes67/77 | €7,897 | €12,046 | €29,781 | €9,127 | €10,461 | €447 | €30,856 | €12,699 | ▼ 58.8% |
| Profit (loss) for the period9904 | €12,238 | €35,288 | €74,807 | €21,503 | €21,723 | -€15,134 | €64,508 | €21,645 | ▼ 66.4% |
| Profit (loss) for the period to be appropriated9905 | €12,238 | €35,288 | €74,807 | €21,503 | €21,723 | -€15,134 | €64,508 | €21,645 | ▼ 66.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €196,253 | €194,060 | €242,886 | €215,244 | €201,513 | €167,101 | €213,542 | €213,874 | ▲ 0.2% |
| Fixed assets21/28 | €119,083 | €107,569 | €97,887 | €95,452 | €93,761 | €76,797 | €82,430 | €126,182 | ▲ 53.1% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €119,083 | €107,569 | €97,887 | €95,452 | €93,761 | €76,797 | €82,430 | €126,182 | ▲ 53.1% |
| Land and buildings22 | - | - | - | €86,660 | €84,068 | €73,033 | €79,049 | €64,720 | ▼ 18.1% |
| Plant, machinery and equipment23 | - | - | - | €2,519 | €1,727 | €935 | €144 | €2,355 | ▲ 16× |
| Furniture and vehicles24 | - | - | - | €6,274 | €7,966 | €2,829 | €3,237 | €59,107 | ▲ 18× |
| Current assets29/58 | €77,169 | €86,491 | €144,999 | €119,792 | €107,752 | €90,304 | €131,112 | €87,692 | ▼ 33.1% |
| Amounts receivable within one year40/41 | €59,821 | €31,127 | €34,045 | €29,648 | €42,469 | €47,764 | €10,709 | €12,558 | ▲ 17.3% |
| Trade receivables40 | - | - | - | €25,185 | €40,931 | €36,142 | €8,072 | €6,126 | ▼ 24.1% |
| Other amounts receivable41 | - | - | - | €4,463 | €1,539 | €11,622 | €2,637 | €6,432 | ▲ 144% |
| Cash at bank and in hand54/58 | €11,906 | €50,206 | €106,102 | €85,446 | €62,118 | €39,298 | €117,180 | €70,060 | ▼ 40.2% |
| Deferred charges and accrued income490/1 | - | - | - | €4,698 | €3,164 | €3,242 | €3,223 | €5,075 | ▲ 57.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €196,253 | €194,060 | €242,886 | €215,244 | €201,513 | €167,101 | €213,542 | €213,874 | ▲ 0.2% |
| Equity10/15 | €45,656 | €45,656 | €101,306 | €101,306 | €123,029 | €95,657 | €160,165 | €181,809 | ▲ 13.5% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €33,256 | €33,256 | €88,906 | €88,906 | €110,629 | €98,391 | €147,765 | €169,409 | ▲ 14.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €87,046 | €108,769 | €98,391 | €147,765 | €169,409 | ▲ 14.6% |
| Profit (loss) carried forward14 | - | - | - | - | - | -€15,134 | - | - | - |
| Amounts payable17/49 | €150,597 | €148,404 | €141,580 | €113,938 | €78,483 | €71,445 | €53,377 | €32,065 | ▼ 39.9% |
| Amounts payable after more than one year17 | €92,410 | €79,399 | €65,831 | €51,682 | €36,928 | €21,543 | €5,499 | €13,759 | ▲ 150% |
| Financial debts170/4 | - | - | - | €51,682 | €36,928 | €21,543 | €5,499 | €13,759 | ▲ 150% |
| Amounts payable within one year42/48 | €57,484 | €69,005 | €75,749 | €62,256 | €41,555 | €49,902 | €47,878 | €18,306 | ▼ 61.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €14,149 | €14,754 | €15,385 | €16,044 | €12,583 | ▼ 21.6% |
| Trade debts44 | €7,017 | €3,136 | €4,440 | €8,757 | €6,296 | €2,682 | €1,807 | €2,620 | ▲ 45.0% |
| Suppliers440/4 | - | - | - | €8,757 | €6,296 | €2,682 | €1,807 | €2,620 | ▲ 45.0% |
| Taxes, remuneration and social security45 | - | - | - | €6,804 | €9,117 | €11,146 | €19,627 | €2,053 | ▼ 89.5% |
| Taxes450/3 | - | - | - | - | €780 | €1,219 | €19,627 | €2,053 | ▼ 89.5% |
| Remuneration and social security454/9 | - | - | - | €6,804 | €8,337 | €9,927 | - | - | - |
| Other amounts payable47/48 | - | - | - | €32,547 | €11,389 | €20,689 | €10,401 | €1,050 | ▼ 89.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,238 | €35,288 | €74,807 | €21,503 | €21,723 | -€15,134 | €64,508 | €21,645 | ▼ 66.4% |
| + Depreciation and write-downs630 | €12,371 | €11,514 | €10,512 | €13,848 | €16,097 | €16,964 | €16,777 | €15,777 | ▼ 6.0% |
| Operating cash flow (approximation) | €24,610 | €46,802 | €85,320 | €35,352 | €37,821 | €1,829 | €81,285 | €37,422 | ▼ 54.0% |
| Investment in fixed assets (approximation) | - | €0 | -€830 | -€11,414 | -€14,406 | €0 | -€22,410 | -€59,530 | ▼ 166% |
| Change in cash | - | €38,300 | €55,896 | -€20,657 | -€23,327 | -€22,820 | €77,881 | -€47,120 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as CREADIS has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CREADIS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for CREADIS. 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.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 27-10-2026 | 2026-00597066 | |
| 31-03-2025 | micro format | 21-10-2025 | 2025-00547563 | |
| 31-03-2024 | micro format | 23-10-2024 | 2024-00512692 | |
| 31-03-2023 | micro format | 04-10-2023 | 2023-00470611 | |
| 31-03-2022 | micro format | 30-09-2022 | 2022-20444707 | |
| 31-03-2021 | micro format | 29-09-2021 | 2021-70100554 | |
| 31-03-2020 | micro format | 29-10-2020 | 2020-64800501 | |
| 31-03-2019 | micro format | 01-10-2019 | 2019-67900324 | |
| 31-03-2018 | micro format | 27-09-2018 | 2018-66600232 | |
| 31-03-2017 | micro format | 29-09-2017 | 2017-64300010 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Vandenboogaerde Carl |
|
| DEMETS Claudine Julienne Anny |
|
| VANDENBOGAERDE Carl Hans |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Enige aandeelhouder of derde, indien geen bestuurder benoemd”
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Één of meer, vormvereisten,aanwezigheidsquorum en meerderheid Wetboek van vennootschappen en verenigingen”
Articles of association, deed of 10-11-2023 (in Dutch)
Network & group
CREADIS shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of CREADIS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
10-11
Gazette deed
Appointments: VANDENBOGAERDE Carl Hans (statutory director) and DEMETS Claudine Julienne Anny (statutair opvolgend bestuurder)Registered office clause · Power of attorney · Amendment of the articles9 points ▸
- Director appointment, VANDENBOGAERDE Carl Hans (statutory director), mentioned 2 times in the deed
- Director appointment, DEMETS Claudine Julienne Anny (statutair opvolgend bestuurder), mentioned 2 times in the deed
- Registered office clause, “Waregem, Desselgemseweg 193” (deed in Dutch)
- Power of attorney
- Power of attorney, Nathalie Desimpel
- General meeting, 06-11-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “TWEEDE BESLUIT, artikel 39,§2,derde lid,wet van 2019-03-23” (deed in Dutch)
- Other provision, “beschikbaar maken eigen vermogen, volledige omzetting statutair onbeschikbare eigen vermogensrekening in beschikbaar eigen vermogen” (deed in Dutch)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34453D0463/00S002 | Flanders | 891 m² | 1 · 154 m² | 8.1 m · 2 |
| 34038B0276/00P000 | Flanders | 784 m² | 1 · 196 m² | 7.7 m · 2 |