CREDEC
ActiveSummary
CREDEC has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €446k and a net result of €59k. Equity is growing by ~14.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+21
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
short-term debt: 0.2% and cash: 33.1% of total assets, and 0.2% of the assets are financed with debt.
Credit check for your own amount and term
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
99.8%
Return on assets
13.3%
Age of the figures
9 mo
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
27 d late
2023
57 d late
2022
25 d late
2021
32 d late
2020
55 d late
2019
92 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€446k▲ 15.3%
2024 · €386k
2018: €319k
2019: €384k▲ +20.3% vs 2018
2020: €200k▼ -48.0% vs 2019lowest in 8 years
2021: €249k▲ +24.6% vs 2020
2022: €289k▲ +15.9% vs 2021
2023: €345k▲ +19.4% vs 2022
2024: €386k▲ +12.0% vs 2023
2025: €446k▲ +15.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€446k▲ 15.1%
2024 · €388k
2018: €321klowest in 8 years
2019: €391k▲ +21.9% vs 2018
2020: €459k▲ +17.3% vs 2019
2021: €502k▲ +9.4% vs 2020
2022: €540k▲ +7.6% vs 2021highest in 8 years
2023: €346k▼ -36.0% vs 2022
2024: €388k▲ +12.1% vs 2023
2025: €446k▲ +15.1% vs 2024
2018 → 2025
Net result
€59k▲ 42.4%
2024 · €42k
2018: €51k
2019: €65k▲ +28.0% vs 2018
2020: €66k▲ +1.5% vs 2019highest in 8 years
2021: €49k▼ -25.2% vs 2020
2022: €40k▼ -19.3% vs 2021lowest in 8 years
2023: €56k▲ +41.5% vs 2022
2024: €42k▼ -26.0% vs 2023
2025: €59k▲ +42.4% vs 2024
2018 → 2025
Working capital
€148k▲ 63.5%
2024 · €91k
2018: €134k
2019: €198k▲ +48.5% vs 2018highest in 8 years
2020: €14k▼ -92.9% vs 2019
2021: €-47k▼ -433% vs 2020lowest in 8 years
2022: €-7k▲ +84.8% vs 2021
2023: €49k▲ +789% vs 2022
2024: €91k▲ +84.7% vs 2023
2025: €148k▲ +63.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€249k-€289k▲ 15.9%€345k▲ 19.4%€386k▲ 12.0%€446k▲ 15.3%
2021: €249klowest in 5 years
2022: €289k▲ +15.9% vs 2021
2023: €345k▲ +19.4% vs 2022
2024: €386k▲ +12.0% vs 2023
2025: €446k▲ +15.3% vs 2024highest in 5 years
Operating result€66k-€53k▼ 19.5%€77k▲ 44.1%€56k▼ 26.9%€79k▲ 40.3%
2021: €66k
2022: €53k▼ -19.5% vs 2021lowest in 5 years
2023: €77k▲ +44.1% vs 2022
2024: €56k▼ -26.9% vs 2023
2025: €79k▲ +40.3% vs 2024highest in 5 years
Net result€49k-€40k▼ 19.3%€56k▲ 41.5%€42k▼ 26.0%€59k▲ 42.4%
2021: €49k
2022: €40k▼ -19.3% vs 2021lowest in 5 years
2023: €56k▲ +41.5% vs 2022
2024: €42k▼ -26.0% vs 2023
2025: €59k▲ +42.4% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 40% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €446k
Fixed assets
€298k ▲ 0.6%
Current assets
€149k ▲ 62.2%
Equity and liabilities €446k
Equity
€446k ▲ 15.3%
Debt
€698 ▼ 40.5%
Debt's share of the balance-sheet total falls from 0.3% to 0.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€79k
Cash flow
€60k
Debt to equity
0.00▼
2024 · 0.00
ROE
13.3%▲
2024 · 10.7%
ROA
13.3%▲
2024 · 10.7%
Interest coverage
286.47
Debt ≤ 1 year
€698▼
2024 · €1k
Income taxes
€19k▲
2024 · €14k
A ratio outside any meaningful range has been withheld (balance sheet total €446k, equity €446k).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 35 lines
Balance sheet
Code20242025
Assets
Total assets20/58€388k€446k▲
Fixed assets21/28€296k€298k▲
Tangible fixed assets22/27€296k€298k▲
Land and buildings22€296k€296k=
Furniture and vehicles24-€2k
Current assets29/58€92k€149k▲
Amounts receivable within one year40/41€7k€792▼
Other amounts receivable41€7k€792▼
Cash at bank and in hand54/58€85k€148k▲
Equity and liabilities
Total equity and liabilities10/49€388k€446k▲
Equity10/15€386k€446k▲
Contributions10/11€50k€50k=
Reserves13€280k€395k▲
Distributable reserves133€280k€395k▲
Profit (loss) carried forward14€57k€1k▼
Amounts payable17/49€1k€698▼
Amounts payable within one year42/48€1k€698▼
Trade debts44€1k€694▼
Suppliers440/4€1k€694▼
Other amounts payable47/48-€4
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€528
Other operating charges640/8€10k€10k▲
Gross operating margin9900€66k€89k▲
Operating profit (loss)9901€56k€79k▲
Financial charges65/66B€445€469▲
Recurring financial charges65€277€276▼
Non-recurring financial charges66B€168€193▲
Profit (loss) for the period before taxes9903€56k€78k▲
Income taxes67/77€14k€19k▲
Profit (loss) for the period9904€42k€59k▲
Profit (loss) for the period to be appropriated9905€42k€59k▲
Appropriation of the result
Profit (loss) to be appropriated9906€57k€116k▲
Profit (loss) brought forward from the previous period14P€15k€57k▲
Transfer to equity691/2-€115k
To other reserves6921-€115k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €528 | - |
| Other operating charges640/8 | €9k | €9k | €10k | €10k | €10k | ▲ 1.6% |
| Gross operating margin9900 | €75k | €62k | €86k | €66k | €89k | ▲ 35.1% |
| Operating profit (loss)9901 | €66k | €53k | €77k | €56k | €79k | ▲ 40.3% |
| Financial income75/76B | €1 | - | - | - | - | - |
| Recurring financial income75 | €1 | - | - | - | - | - |
| Non-recurring financial income76B | €1 | - | - | - | - | - |
| Financial charges65/66B | €288 | €353 | €533 | €445 | €469 | ▲ 5.4% |
| Recurring financial charges65 | €288 | €353 | €533 | €277 | €276 | ▼ 0.3% |
| Non-recurring financial charges66B | - | - | - | €168 | €193 | ▲ 14.8% |
| Profit (loss) for the period before taxes9903 | €66k | €53k | €76k | €56k | €78k | ▲ 40.6% |
| Income taxes67/77 | €17k | €13k | €20k | €14k | €19k | ▲ 35.0% |
| Profit (loss) for the period9904 | €49k | €40k | €56k | €42k | €59k | ▲ 42.4% |
| Profit (loss) for the period to be appropriated9905 | €49k | €40k | €56k | €42k | €59k | ▲ 42.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €502k | €540k | €346k | €388k | €446k | ▲ 15.1% |
| Fixed assets21/28 | €296k | €296k | €296k | €296k | €298k | ▲ 0.6% |
| Tangible fixed assets22/27 | €296k | €296k | €296k | €296k | €298k | ▲ 0.6% |
| Land and buildings22 | €296k | €296k | €296k | €296k | €296k | = |
| Furniture and vehicles24 | - | - | - | - | €2k | - |
| Current assets29/58 | €206k | €244k | €50k | €92k | €149k | ▲ 62.2% |
| Amounts receivable within one year40/41 | €26k | €31k | €8k | €7k | €792 | ▼ 88.4% |
| Other amounts receivable41 | €26k | €31k | €8k | €7k | €792 | ▼ 88.4% |
| Cash at bank and in hand54/58 | €181k | €213k | €42k | €85k | €148k | ▲ 74.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €502k | €540k | €346k | €388k | €446k | ▲ 15.1% |
| Equity10/15 | €249k | €289k | €345k | €386k | €446k | ▲ 15.3% |
| Contributions10/11 | €50k | €50k | €50k | €50k | €50k | = |
| Capital10 | €50k | €50k | - | - | - | - |
| Issued capital100 | €50k | €50k | - | - | - | - |
| Reserves13 | €105k | €230k | €280k | €280k | €395k | ▲ 41.1% |
| Non-distributable reserves130/1 | €5k | €5k | - | - | - | - |
| Legal reserve130 | €5k | €5k | - | - | - | - |
| Distributable reserves133 | €100k | €225k | €280k | €280k | €395k | ▲ 41.1% |
| Profit (loss) carried forward14 | €95k | €9k | €15k | €57k | €1k | ▼ 98.1% |
| Amounts payable17/49 | €253k | €251k | €773 | €1k | €698 | ▼ 40.5% |
| Amounts payable within one year42/48 | €253k | €251k | €773 | €1k | €698 | ▼ 40.5% |
| Trade debts44 | €918 | €1k | €773 | €1k | €694 | ▼ 40.9% |
| Suppliers440/4 | €918 | €1k | €773 | €1k | €694 | ▼ 40.9% |
| Taxes, remuneration and social security45 | €2k | - | - | - | - | - |
| Taxes450/3 | €2k | - | - | - | - | - |
| Other amounts payable47/48 | €250k | €250k | - | - | €4 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49k | €40k | €56k | €42k | €59k | ▲ 42.4% |
| + Depreciation and write-downs630 | - | - | - | - | €528 | - |
| Operating cash flow (approximation) | €49k | €40k | €56k | €42k | €60k | ▲ 43.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-2k | - |
| Change in cash | - | €32k | €-171k | €43k | €63k | ▲ 47.6% |
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 · micro schema · 28 days late
2025
31-12
Financial
Liquidity triplescurrent ratio 213.02
Current ratio from 78.12 to 213.02; short-term debt falls from €1k to €698.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
31-12
Financial
Liquidity times 66current ratio 64.38
Current ratio from 0.97 to 64.38; short-term debt falls from €251k to €773.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Weakest financial yearnet €40k ▼19.3%
Net result drops to €40k, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
2021
31-12
Financial
Equity above €200kEq €249k ▲24.6%
4 profitable years in a row build equity to €249k.
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
2020
31-12
Financial
Highest result since 2018net €66k ▲1.5%
Net result €66k, the highest in the series.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
Show earlier events
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 21 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Zottegem · 1 establishment unit since 1985
Ground area
854 m²
Building footprint
50 m²
Volume, LiDAR
193 m³
Parcel 41023A1023/00B000, Flanders · tallest building 5.1 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Pardassenhoek 36, 9620 Zottegem
since 19852.027.615.645
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41023A1023/00B000 | Flanders | 854 m² | 1 · 50 m² | 5.1 m · 1 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded30-05-1985
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.