CREDEBEL
ActiveSummary
CREDEBEL has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €805,804 and a net result of €168,759. Equity is growing by ~46.8% per year across the filed fiscal years. Its solvency ranks better than 40% of 1347 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-8
Solvency34▼-59
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 1.75 against 0.66 in 2024; short-term debt: 15.3% and cash: 0.5% of total assets), but 91.4% of the assets are financed with debt.
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Signals
Four 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
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
8.6%
Return on assets
1.8%
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 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 30-12-2025 was due by 30-07-2026 and was filed on 20-08-2026, 21 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
21 d late
2024
1 d late
2023
32 d late
2022
1 d late
2021
2 d late
2020
on the day
2019
211 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 38 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-12-2026 and is due by 30-07-2027. Nothing is late today. Usually files around 1 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today30-12-2026 close30-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€805,804▼ 0.2%
2024 · €807,044
Total assets
€9.4m▲ 687%
2024 · €1.2m
Net result
€168,759▲ 67.7%
2024 · €100,653
Working capital
€1.1m
2024 · -€96,902
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€397,669€466,809▲ 17.4%€324,434▼ 30.5%€159,245▼ 50.9%€188,650▲ 18.5%
Net result€343,525above the sector's middle half€405,230above the sector's middle half▲ 18.0%€199,981above the sector's middle half▼ 50.7%€100,653within the sector's middle half▼ 49.7%€168,759above the sector's middle half▲ 67.7%
Equity€101,180within the sector's middle half€506,411within the sector's middle half▲ 401%€706,391within the sector's middle half▲ 39.5%€807,044within the sector's middle half▲ 14.2%€805,804above the sector's middle half▼ 0.2%
Total assets€1.2mwithin the sector's middle half▲ 3.8%€1.5mwithin the sector's middle half▲ 29.4%€1.6mwithin the sector's middle half▲ 5.7%€1.2mwithin the sector's middle half▼ 25.2%€9.4mabove the sector's middle half▲ 687%
Debt€1.1m▼ 20.7%€1.0m▼ 5.9%€888,065▼ 11.4%€386,196▼ 56.5%€1.5m▲ 296%
Working capital-€165,937within the sector's middle half▲ 33.2%€48,228within the sector's middle half-€212,293within the sector's middle half-€96,902within the sector's middle half▲ 54.4%€1.1mabove the sector's middle half
Solvency8.7%within the sector's middle half▲ 28.1pp33.6%within the sector's middle half▲ 24.9pp44.3%within the sector's middle half▲ 10.7pp67.6%above the sector's middle half▲ 23.3pp8.6%within the sector's middle half▼ 59.1pp
Current ratio0.57within the sector's middle half▲ 0.251.10within the sector's middle half▲ 0.530.74within the sector's middle half▼ 0.360.66within the sector's middle half▼ 0.081.75above the sector's middle half▲ 1.09
Return on assets (ROA)29.5%above the sector's middle half▲ 45.7pp26.9%above the sector's middle half▼ 2.6pp12.5%above the sector's middle half▼ 14.3pp8.4%within the sector's middle half▼ 4.1pp1.8%within the sector's middle half▼ 6.6pp
Staff (FTE)16.3above the sector's middle half▼ 7.4%18.6above the sector's middle half▲ 14.1%22.4above the sector's middle half▲ 20.4%20.7above the sector's middle half▼ 7.6%21.5▲ 3.9%
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 18% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.4m
Fixed assets
€6.9m ▲ 583%
Current assets
€2.5m ▲ 1,255%
Equity and liabilities €9.4m
Equity
€805,804 ▼ 0.2%
Provisions
€7.1m
Debt
€1.5m ▲ 296%
Debt's share of the balance-sheet total falls from 32.4% to 16.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€191,318▼
2024 · €257,403
Cash flow
€171,427▼
2024 · €198,811
Quick ratio
1.74▲
2024 · 0.61
Debt to equity
1.90▲
2024 · 0.48
ROE
20.9%▲
2024 · 12.5%
Interest coverage
11.95▼
2024 · 17.73
Debt ≤ 1 year
€1.4m▲
2024 · €281,946
Debt > 1 year
€86,510
Income taxes
€3,902▼
2024 · €45,349
Staff costs
€1.2m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €100,123 | - |
| Remuneration, social security and pensions62 | €666,357 | €849,696 | €1.2m | €1.1m | €1.2m | ▲ 6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €75,312 | €65,603 | €76,073 | €98,158 | €2,668 | ▼ 97.3% |
| Other operating charges640/8 | €18,540 | €77,451 | €46,392 | €68,992 | €18,535 | ▼ 73.1% |
| Non-recurring operating charges66A | - | €18,757 | €313 | €100,000 | - | - |
| Gross operating margin9900 | €1.2m | €1.5m | €1.6m | €1.5m | €1.4m | ▼ 9.6% |
| Operating profit (loss)9901 | €397,669 | €466,809 | €324,434 | €159,245 | €188,650 | ▲ 18.5% |
| Financial income75/76B | €244 | €2,116 | €318 | €1,275 | €24 | ▼ 98.1% |
| Recurring financial income75 | €244 | €2,116 | €318 | €1,275 | €24 | ▼ 98.1% |
| Financial charges65/66B | €32,387 | €22,281 | €21,542 | €14,518 | €16,013 | ▲ 10.3% |
| Recurring financial charges65 | €32,387 | €22,281 | €21,542 | €14,518 | €16,013 | ▲ 10.3% |
| Profit (loss) for the period before taxes9903 | €365,526 | €446,644 | €303,209 | €146,002 | €172,661 | ▲ 18.3% |
| Income taxes67/77 | €22,000 | €41,414 | €103,229 | €45,349 | €3,902 | ▼ 91.4% |
| Profit (loss) for the period9904 | €343,525 | €405,230 | €199,981 | €100,653 | €168,759 | ▲ 67.7% |
| Transfer from tax-exempt reserves789 | €18,750 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €362,275 | €405,230 | €199,981 | €100,653 | €168,759 | ▲ 67.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.5m | €1.6m | €1.2m | €9.4m | ▲ 687% |
| Fixed assets21/28 | €948,392 | €960,993 | €988,858 | €1.0m | €6.9m | ▲ 583% |
| Tangible fixed assets22/27 | €945,678 | €958,279 | €986,144 | €1.0m | €12,314 | ▼ 98.8% |
| Land and buildings22 | €846,700 | €811,872 | €779,621 | €822,776 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €85,262 | €133,382 | €193,195 | €177,294 | €11,330 | ▼ 93.6% |
| Furniture and vehicles24 | €13,716 | €13,025 | €13,327 | €5,411 | €983 | ▼ 81.8% |
| Financial fixed assets28 | €2,715 | €2,715 | €2,715 | €2,715 | €6.9m | ▲ 253,069% |
| Current assets29/58 | €217,412 | €547,635 | €605,598 | €185,044 | €2.5m | ▲ 1,255% |
| Amounts receivable after more than one year29 | - | - | €25,000 | €25,000 | €25,000 | = |
| Other amounts receivable291 | - | - | €25,000 | €25,000 | €25,000 | = |
| Stocks and contracts in progress3 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Stocks30/36 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Amounts receivable within one year40/41 | €5,572 | €52,645 | €86,928 | €38,455 | €2.4m | ▲ 6,180% |
| Trade receivables40 | €2,942 | €51,145 | €76,114 | €34,114 | €14,197 | ▼ 58.4% |
| Other amounts receivable41 | €2,630 | €1,500 | €10,814 | €4,341 | €2.4m | ▲ 55,203% |
| Cash at bank and in hand54/58 | €194,786 | €458,835 | €459,075 | €103,682 | €50,220 | ▼ 51.6% |
| Deferred charges and accrued income490/1 | €4,554 | €23,655 | €22,095 | €5,407 | €5,407 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.5m | €1.6m | €1.2m | €9.4m | ▲ 687% |
| Equity10/15 | €101,180 | €506,411 | €706,391 | €807,044 | €805,804 | ▼ 0.2% |
| Contributions10/11 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Outside capital11 | €350,000 | €350,000 | €350,000 | €350,000 | - | - |
| Other1109/19 | €350,000 | €350,000 | €350,000 | €350,000 | - | - |
| Reserves13 | €10,100 | €10,100 | €10,100 | €10,100 | €10,100 | = |
| Non-distributable reserves130/1 | €10,100 | €10,100 | €10,100 | €10,100 | €10,100 | = |
| Reserves not available under the articles1311 | €10,100 | €10,100 | €10,100 | €10,100 | €10,100 | = |
| Profit (loss) carried forward14 | -€258,920 | €146,311 | €346,291 | €446,944 | €445,704 | ▼ 0.3% |
| Provisions and deferred taxes16 | - | - | - | - | €7.1m | - |
| Deferred taxes168 | - | - | - | - | €7.1m | - |
| Amounts payable17/49 | €1.1m | €1.0m | €888,065 | €386,196 | €1.5m | ▲ 296% |
| Amounts payable after more than one year17 | €677,274 | €495,410 | €66,674 | - | €86,510 | - |
| Financial debts170/4 | €677,274 | €495,410 | €66,674 | - | €86,510 | - |
| Amounts payable within one year42/48 | €383,349 | €499,407 | €817,891 | €281,946 | €1.4m | ▲ 410% |
| Current portion of amounts payable after more than one year42 | €178,302 | €181,864 | €428,736 | - | €169,976 | - |
| Financial debts43 | - | - | - | - | €7,526 | - |
| Credit institutions430/8 | - | - | - | - | €7,526 | - |
| Trade debts44 | €108,344 | €143,023 | €119,607 | €103,557 | €634,206 | ▲ 512% |
| Suppliers440/4 | €108,344 | €143,023 | €119,607 | €103,557 | €634,206 | ▲ 512% |
| Advances received on contracts in progress46 | €7,000 | - | - | €23,701 | €23,701 | = |
| Taxes, remuneration and social security45 | €68,384 | €162,527 | €260,005 | €153,151 | €396,252 | ▲ 159% |
| Taxes450/3 | €22,668 | €65,376 | €133,059 | €21,489 | €147,648 | ▲ 587% |
| Remuneration and social security454/9 | €45,716 | €97,151 | €126,946 | €131,662 | €248,604 | ▲ 88.8% |
| Other amounts payable47/48 | €21,318 | €11,994 | €9,543 | €1,537 | €205,009 | ▲ 13,240% |
| Accrued charges and deferred income492/3 | €4,000 | €7,400 | €3,500 | €104,250 | €4,250 | ▼ 95.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €343,525 | €405,230 | €199,981 | €100,653 | €168,759 | ▲ 67.7% |
| + Depreciation and write-downs630 | €75,312 | €65,603 | €76,073 | €98,158 | €2,668 | ▼ 97.3% |
| Operating cash flow (approximation) | €418,837 | €470,833 | €276,054 | €198,811 | €171,427 | ▼ 13.8% |
| Investment in fixed assets (approximation) | - | -€78,204 | -€103,938 | -€117,496 | -€5.9m | ▼ 4,904% |
| Change in cash | - | €264,050 | €240 | -€355,393 | -€53,462 | ▲ 85.0% |
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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
30-12
Financial
Liquidity triplescurrent ratio 1.75
Current ratio from 0.66 to 1.75.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 1 day late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 32 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 1 day late
2022
30-12
Financial
Highest result since 2018net €405,230 ▲18%
Operating result €466,809, net result €405,230, both a record.
30-12
Financial
Equity above €500,000Eq €506,411 ▲401%
2 profitable years in a row build equity to €506,411.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 2 days late
2021
30-12
Financial
Back to profitnet €343,525
Net result €343,525 after one loss-making year.
30-12
Financial
Equity above €100,000Eq €101,180
Equity rises from -€218,492 to €101,180.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
26-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 211 days late
Show earlier events
2020
30-12
Financial
Weakest financial yearnet -€182,239
Net result drops to -€182,239, the lowest in the series; recovery starts the following year.
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 91 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
27-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 89 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
No directors read yet: 0 of 5 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 1993
Ground area
1,612 m²
Building footprint
1,702 m²
2 parcels, Flanders. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
Hotel Heritage Brugge
since 19932.060.697.692
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31805E1295/00G000 | Flanders | 1,208 m² | 1 · 1,029 m² | - |
| 31805E1303/00M000 | Flanders | 405 m² | 1 · 674 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
2 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 ownerChain of control
- NextGen Group
- CREDEBEL
Highest known parent: NextGen Group. The sources do not say who stands above it.
Owners 1
- NextGen Groupparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
Food safety, FASFC
1 siteBrugge2.060.697.692
Legal Entity Identifier
98450074E9ELZ3C39B29
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Of 2,392 companies in this sector we hold annual accounts for 1,519. 1,005 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded22-01-1993
Fiscal year end30-12
Activities, NACEBEL 2025
55100Hotels and similar accommodation
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449272128
Also
9925:BE0449272128
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.