Checked.be
Active
BE 0459.580.951Private limited company
CREAFAC
Forestier Ingelramstraat 34 ·8530 Harelbeke, Belgium· 29 yrs active
Sector: Plastering work
(43310)
Conclusion
CREAFAC has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40k and a net result of €-5k. Equity is shrinking by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 42% of 26784 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €40k |
| Net result | €-5k |
| Better than sector | 42% |
| Active | 29 yrs |
Financial profile
49
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
53
Profitability
0
Solvency
62
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1996, 29 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
53
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€2k
estimate, not credit advice
Score history
50
2021
88
2022
76
2023
58
2024
53
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.01 (≥ 1.0)
+5
Leverage
Debt/equity 1.47 (< 2.0)
+3
Profitability
Negatieve ROE -12%
-10
Interest coverage
Interest coverage 4.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-01-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~9.8%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 40.5% | 47.4% | |
| Net result | €-5k | €10k | |
| Equity | €40k | €60k | |
| Gross operating margin | €12k | €39k | |
| Total assets | €99k | €141k |
€8k
-38.3%
21-25
€-5k
-895.7%
21-25
€6k
-44.0%
21-25
€99k
-13.7%
21-25
€40k
-29.2%
21-25
€283
-96.4%
21-25
€141
-64.6%
21-25
€12k
-23.3%
21-25
€59k
+1.4%
21-25
€37k
+9.6%
21-25
€21k
-12.0%
21-25
1.01
-18.2%
21-25
1.00
-16.0%
21-25
40.5%
-18.0%
21-25
1.47
+43.3%
21-25
-12.1%
-1307.0%
21-25
-4.9%
-1054.2%
21-25
4.23
-37.9%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €8k | €13k | €19k | €33k | €33k |
| Net profit | €-5k | €-490 | €4k | €12k | €22k |
| Cash flow | €6k | €11k | €14k | €24k | €34k |
| Staff costs | - | - | - | - | - |
| Income taxes | €141 | €399 | €2k | €6k | €6k |
| Dividends | €12k | €15k | €2k | €2k | €2k |
| Total assets | €99k | €115k | €123k | €104k | €119k |
| Equity | €40k | €57k | €72k | €70k | €60k |
| Debt | €59k | €58k | €50k | €34k | €59k |
| of which ≤ 1y | €37k | €34k | €29k | €34k | €59k |
| of which > 1y | €21k | €24k | €21k | - | - |
| Working capital | €283 | €8k | €10k | €3k | €-19k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.01 | 1.23 | 1.35 | 1.09 | 0.68 |
| Quick ratio | 1.00 | 1.19 | 0.93 | 1.09 | 0.68 |
| Working capital ratio | 0.3% | 6.8% | 8.1% | 3.0% | -16.0% |
| Solvency | 40.5% | 49.4% | 59.1% | 67.5% | 50.2% |
| Debt / equity | 1.47 | 1.03 | 0.69 | 0.48 | - |
| Long-term debt ratio | 0.53 | 0.43 | 0.30 | - | - |
| Interest coverage | 4.23 | 6.81 | 6.41 | 13.37 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -4.9% | -0.4% | 3.3% | 11.5% | 18.9% |
| ROE | -12.1% | -0.9% | 5.5% | 17.0% | 37.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €99k | €115k | €123k | €104k | €119k |
| Fixed assets | 21/28 | €62k | €73k | €84k | €67k | €79k |
| Tangible fixed assets | 22/27 | €62k | €73k | €84k | €67k | €79k |
| Current assets | 29/58 | €37k | €42k | €39k | €37k | €40k |
| Stocks & contracts in progress | 3 | €439 | €2k | €12k | - | - |
| Amounts receivable within one year | 40/41 | €27k | €25k | €21k | €10k | €38k |
| Cash & bank | 54/58 | €6k | €13k | €5k | €26k | €1k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €99k | €115k | €123k | €104k | €119k |
| Equity | 10/15 | €40k | €57k | €72k | €70k | €60k |
| Contributions / capital | 10/11 | €6k | €6k | €6k | €6k | - |
| Reserves | 13 | €31k | €42k | €58k | €55k | €45k |
| Accumulated profits (losses) | 14 | €3k | €8k | €9k | €9k | €9k |
| Amounts payable | 17/49 | €59k | €58k | €50k | €34k | €59k |
| Amounts payable after one year | 17 | €21k | €24k | €21k | - | - |
| Amounts payable within one year | 42/48 | €37k | €34k | €29k | €34k | €59k |
| Trade debts payable within one year | 44 | €9k | €11k | €7k | €12k | €28k |
| Income statement | ||||||
| Gross operating margin | 9900 | €12k | €16k | €22k | €35k | €35k |
| Operating result | 9901 | €-3k | €2k | €9k | €21k | €21k |
| Financial income | 75 | €0 | €1 | €0 | €9 | €25 |
| Financial charges | 65 | €2k | €2k | €3k | €2k | €3k |
| Result before taxes | 9903 | €-5k | €-90 | €6k | €18k | €18k |
| Income taxes | 67/77 | €141 | €399 | €2k | €6k | €6k |
| Net result for the period | 9904 | €-5k | €-490 | €4k | €12k | €13k |
| Result to be appropriated | 9905 | €-5k | €-490 | €4k | €16k | €14k |
Directors & mandates
Current directors & mandates
-
Arne MessiaenNon-statutory directorState Gazette act 24418972 (25-07-2024)Current25-07-2024 → present
2 events
- 25-07-2024 Resigned· Statutaire bestuurder
- 25-07-2024 Appointed· Non-statutory director
Legal Structure
| NACE primary | Plastering work(43310) |
| Legal form | Private limited company(610) |
| Incorporation | 24-12-1996 |
| Status | Active |
| Postal code | 8530 |
Establishment units
CREAFAC BVBA
since 19972.081.811.129
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34013A1207/00Z006 | Flanders | 566 m² | 1 · 125 m² | 8.0 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series.
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
2024
25-07
State Gazette act
Director changes
v3.2
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2024
25-07-2024 1 director appointed, 1 resigning
- Arne Messiaen, Niet-statutair bestuurder
- Arne Messiaen, Statutaire bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_out",
"role": "statutaire bestuurder",
"person": {
"rrn": null,
"name": "Arne Messiaen",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "niet-statutaire bestuurder",
"person": {
"rrn": null,
"name": "Arne Messiaen",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0459.580.951",
"name_full": "CREAFAC"
}
}Credit advice
Company registry (CBE)
Activities
Plastering work43310
Names & trade names
| Legal nameNL | CREAFAC |
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