CREATEL
ActiveSummary
CREATEL has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€85,137) and a net result of -€294,631. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 5% of 5046 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-27
Solvency10▼-48
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.83 against 1.48 in 2024; short-term debt: 110.7% and cash: 0.1% of total assets), and equity is negative.
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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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-15.5%
Return on assets
-53.5%
Age of the figures
9 mo
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 →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€85,137
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
13 d early
2023
7 d late
2022
13 d early
2021
20 d early
2020
1 d early
2019
102 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 13 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€294,631▼ 19,821%
2024 · -€1,479
Working capital
-€105,611
2024 · €196,409
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€63,407▲ 17.0%€70,439▲ 11.1%€52,971▼ 24.8%€9,353▼ 82.3%-€286,890
Net result€38,341within the sector's middle half▲ 14.4%€43,588within the sector's middle half▲ 13.7%€27,441within the sector's middle half▼ 37.0%-€1,479below the sector's middle half-€294,631below the sector's middle half▼ 19,821%
Equity€291,070within the sector's middle half▲ 15.2%€334,658within the sector's middle half▲ 15.0%€210,974below the sector's middle half▼ 37.0%€209,494below the sector's middle half▼ 0.7%-€85,137below the sector's middle half
Total assets€653,732below the sector's middle half▲ 14.4%€719,405below the sector's middle half▲ 10.0%€543,008below the sector's middle half▼ 24.5%€637,131below the sector's middle half▲ 17.3%€550,691below the sector's middle half▼ 13.6%
Debt€362,662▲ 13.9%€384,747▲ 6.1%€332,034▼ 13.7%€427,637▲ 28.8%€635,828▲ 48.7%
Working capital€210,969within the sector's middle half▲ 8.7%€273,421within the sector's middle half▲ 29.6%€197,311within the sector's middle half▼ 27.8%€196,409within the sector's middle half▼ 0.5%-€105,611below the sector's middle half
Solvency44.5%within the sector's middle half▲ 0.3pp46.5%within the sector's middle half▲ 2.0pp38.9%within the sector's middle half▼ 7.7pp32.9%within the sector's middle half▼ 6.0pp-15.5%below the sector's middle half▼ 48.3pp
Current ratio1.61within the sector's middle half▼ 0.061.74within the sector's middle half▲ 0.131.60within the sector's middle half▼ 0.151.48within the sector's middle half▼ 0.120.83below the sector's middle half▼ 0.65
Return on assets (ROA)5.9%within the sector's middle half=6.1%within the sector's middle half▲ 0.2pp5.1%within the sector's middle half▼ 1.0pp-0.2%below the sector's middle half▼ 5.3pp-53.5%below the sector's middle half▼ 53.3pp
Staff (FTE)1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=3below the sector's middle half▲ 200%4.4within the sector's middle half▲ 46.7%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €286,890 after €9,353 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €550,691
Fixed assets
€46,438 ▲ 50.9%
Current assets
€504,253 ▼ 16.8%
Key figures and ratios
EBITDA
-€276,671▼
2024 · €12,214
Cash flow
-€284,412▼
2024 · €1,382
Quick ratio
0.37▼
2024 · 0.57
Debt to equity
-7.47▼
2024 · 2.04
Interest coverage
-22.70▼
2024 · 1.03
Debt ≤ 1 year
€609,864▲
2024 · €409,939
Debt > 1 year
€25,964▲
2024 · €17,698
Income taxes
-€549▼
2024 · €169
Staff costs
€299,224▲
2024 · €174,368
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,662 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% | 1.7% |
| 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 75% 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 6,639 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 | €63,208 | €64,587 | €66,418 | €174,368 | €299,224 | ▲ 71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,154 | €4,466 | €2,474 | €2,861 | €10,219 | ▲ 257% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€1,769 | -€2,232 | - | - |
| Other operating charges640/8 | €6,854 | €2,643 | €3,498 | €8,278 | €9,313 | ▲ 12.5% |
| Non-recurring operating charges66A | - | - | - | €2,319 | - | - |
| Gross operating margin9900 | €142,622 | €142,134 | €123,593 | €194,947 | €31,866 | ▼ 83.7% |
| Operating profit (loss)9901 | €63,407 | €70,439 | €52,971 | €9,353 | -€286,890 | ▼ 3,167% |
| Financial income75/76B | €314 | €1 | €290 | €1,179 | €3,896 | ▲ 230% |
| Recurring financial income75 | €314 | €1 | €290 | €1,179 | €3,896 | ▲ 230% |
| Financial charges65/66B | €12,501 | €11,983 | €12,295 | €11,842 | €12,186 | ▲ 2.9% |
| Recurring financial charges65 | €12,501 | €11,983 | €12,295 | €11,842 | €12,186 | ▲ 2.9% |
| Profit (loss) for the period before taxes9903 | €51,220 | €58,456 | €40,966 | -€1,310 | -€295,180 | ▼ 22,433% |
| Income taxes67/77 | €12,879 | €14,868 | €13,525 | €169 | -€549 | ▼ 425% |
| Profit (loss) for the period9904 | €38,341 | €43,588 | €27,441 | -€1,479 | -€294,631 | ▼ 19,821% |
| Profit (loss) for the period to be appropriated9905 | €38,341 | €43,588 | €27,441 | -€1,479 | -€294,631 | ▼ 19,821% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €653,732 | €719,405 | €543,008 | €637,131 | €550,691 | ▼ 13.6% |
| Fixed assets21/28 | €98,578 | €78,870 | €15,953 | €30,783 | €46,438 | ▲ 50.9% |
| Tangible fixed assets22/27 | €21,408 | €1,700 | €15,953 | €30,783 | €46,438 | ▲ 50.9% |
| Furniture and vehicles24 | €20,964 | €1,371 | €15,739 | €30,685 | €46,389 | ▲ 51.2% |
| Other tangible fixed assets26 | €444 | €329 | €213 | €98 | €49 | ▼ 50.0% |
| Financial fixed assets28 | €77,170 | €77,170 | - | - | - | - |
| Current assets29/58 | €555,154 | €640,535 | €527,056 | €606,348 | €504,253 | ▼ 16.8% |
| Stocks and contracts in progress3 | €288,713 | €304,422 | €377,215 | €371,792 | €281,406 | ▼ 24.3% |
| Stocks30/36 | €288,713 | €304,422 | €377,215 | €371,792 | €281,406 | ▼ 24.3% |
| Amounts receivable within one year40/41 | €255,976 | €325,684 | €130,148 | €187,853 | €219,296 | ▲ 16.7% |
| Trade receivables40 | €167,515 | €254,326 | €109,995 | €164,541 | €188,604 | ▲ 14.6% |
| Other amounts receivable41 | €88,461 | €71,358 | €20,153 | €23,312 | €30,692 | ▲ 31.7% |
| Cash at bank and in hand54/58 | €4,083 | €2,133 | €6,787 | €989 | €318 | ▼ 67.8% |
| Deferred charges and accrued income490/1 | €6,383 | €8,295 | €12,905 | €45,714 | €3,233 | ▼ 92.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €653,732 | €719,405 | €543,008 | €637,131 | €550,691 | ▼ 13.6% |
| Equity10/15 | €291,070 | €334,658 | €210,974 | €209,494 | -€85,137 | ▼ 141% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Profit (loss) carried forward14 | €222,899 | €266,487 | €142,804 | €141,324 | -€153,307 | ▼ 208% |
| Amounts payable17/49 | €362,662 | €384,747 | €332,034 | €427,637 | €635,828 | ▲ 48.7% |
| Amounts payable after more than one year17 | €1,348 | - | - | €17,698 | €25,964 | ▲ 46.7% |
| Financial debts170/4 | €1,348 | - | - | €17,698 | €25,964 | ▲ 46.7% |
| Amounts payable within one year42/48 | €344,184 | €367,113 | €329,745 | €409,939 | €609,864 | ▲ 48.8% |
| Current portion of amounts payable after more than one year42 | €12,823 | €1,348 | - | €8,613 | €114,826 | ▲ 1,233% |
| Financial debts43 | €70,000 | €80,000 | €56,906 | €97,297 | €100,250 | ▲ 3.0% |
| Credit institutions430/8 | €70,000 | €80,000 | €56,906 | €97,297 | €100,250 | ▲ 3.0% |
| Trade debts44 | €195,228 | €185,178 | €159,126 | €220,496 | €256,284 | ▲ 16.2% |
| Suppliers440/4 | €195,228 | €185,178 | €159,126 | €220,496 | €256,284 | ▲ 16.2% |
| Taxes, remuneration and social security45 | €31,834 | €67,292 | €56,716 | €31,490 | €39,203 | ▲ 24.5% |
| Taxes450/3 | €25,179 | €60,130 | €49,096 | €10,772 | €21,852 | ▲ 103% |
| Remuneration and social security454/9 | €6,655 | €7,161 | €7,621 | €20,718 | €17,351 | ▼ 16.3% |
| Other amounts payable47/48 | €34,299 | €33,297 | €56,998 | €52,043 | €99,301 | ▲ 90.8% |
| Accrued charges and deferred income492/3 | €17,130 | €17,634 | €2,289 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,341 | €43,588 | €27,441 | -€1,479 | -€294,631 | ▼ 19,821% |
| + Depreciation and write-downs630 | €9,154 | €4,466 | €2,474 | €2,861 | €10,219 | ▲ 257% |
| Operating cash flow (approximation) | €47,495 | €48,054 | €29,915 | €1,382 | -€284,412 | ▼ 20,680% |
| Investment in fixed assets (approximation) | - | €15,242 | €60,444 | -€17,691 | -€25,874 | ▼ 46.3% |
| Change in cash | - | -€1,950 | €4,654 | -€5,798 | -€671 | ▲ 88.4% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet -€294,631
Net result drops to -€294,631, the lowest in the series.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 7 days late
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €43,588 ▲13.7%
Operating result €70,439, net result €43,588, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 102 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Ukkel · 1 establishment unit since 1989
Ground area
286 m²
Building footprint
73 m²
Volume, LiDAR
551 m³
Parcel 21614H0024/00M008, Brussels · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Waterloosesteenweg 1094, 1180 Ukkel
since 19892.045.464.734
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0024/00M008 | Brussels | 286 m² | 1 · 73 m² | 12.2 m · 3 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.
Structure & network
Owners and holdings
2 owners · 1 holdingOwners 2
- 50%
-
25%
Holdings 1
-
49%
According to the 2022 annual accounts of CREATEL and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Recognised contractor
4 categoriesCREATEL SA33692
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Of 2,119 companies in sector 46500 we hold annual accounts for 1,408. 1,083 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-10-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46500Wholesale of information and communication equipment
47540Retail sale of electrical household appliances
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438615093
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.