CREDO HOLDING
ActiveCREDO HOLDING has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.96M and a net result of €-5k. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 44% of 920 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability57▼-4
Solvency63▼-12
Growth68=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity short (current ratio 0.92 against 0.89 in 2024; short-term debt: 62% and cash: 2.2% of total assets), and 62% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Sector 82
lower
← fewer bankruptcies
more bankruptcies →
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
38%
Return on assets
0%
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 26-08-2026, 26 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
26 d late
2024
61 d late
2023
43 d early
2022
49 d early
2021
9 d early
2020
33 d early
2019
43 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.62M▲ 16.1%
2024 · €1.39M
2018: €328k
2019: €407k
2020: €774k
2021: €931k
2022: €1.24M
2023: €1.17M
2024: €1.39M
2018 → 2025
EBIT margin
0.2%▼ 3.7pp
2024 · 3.9%
2018: 49.4%
2019: 33.9%
2020: 25.3%
2021: 18.1%
2022: 31.6%
2023: 11.3%
2024: 3.9%
2018 → 2025
Net result
€-5k
2024 · €30k
2018: €38k
2019: €232k
2020: €196k
2021: €168k
2022: €352k
2023: €94k
2024: €30k
2018 → 2025
Working capital
€-613k▼ 14.7%
2024 · €-535k
2018: €-1.31M
2019: €-1.13M
2020: €-1.13M
2021: €-932k
2022: €-586k
2023: €-413k
2024: €-535k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€931k-€1.24M▲ 33.3%€1.17M▼ 5.8%€1.39M▲ 19.1%€1.62M▲ 16.1%
Equity€4.61M-€4.84M▲ 5.0%€4.94M▲ 1.9%€4.97M▲ 0.6%€4.96M▼ 0.1%
Operating result€168k-€392k▲ 133%€132k▼ 66.4%€54k▼ 59.0%€3k▼ 94.0%
Net result€168k-€352k▲ 110%€94k▼ 73.3%€30k▼ 67.8%€-5k
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 94% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.05M
Fixed assets
€5.58M▲ 1.3%
Current assets
€7.48M▲ 69.0%
Equity and liabilities €13.05M
Equity
€4.96M▼ 0.1%
Debt
€8.09M▲ 63.1%
The debt ratio rises from 50.0% to 62.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€115k▲
2024 · €88k
Cash flow
€107k▲
2024 · €64k
Solvency
38.0%▼
2024 · 50.0%
Current ratio
0.92▲
2024 · 0.89
Quick ratio
0.92▲
2024 · 0.89
Debt / equity
1.63▲
2024 · 1.00
ROE
-0.1%▼
2024 · 0.6%
ROA
0.0%▼
2024 · 0.3%
Interest coverage
5.13▼
2024 · 12.59
Debt
€8.09M▲
2024 · €4.96M
Debt ≤ 1 year
€8.09M▲
2024 · €4.96M
Staff costs
€216k▼
2024 · €270k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€9.93M€13.05M▲
Fixed assets21/28€5.50M€5.58M▲
Intangible fixed assets21€161k€240k▲
Tangible fixed assets22/27€35k€29k▼
Furniture and vehicles24€35k€29k▼
Financial fixed assets28€5.31M€5.31M=
Affiliated companies280/1€5.31M€5.31M=
Participating interests280€5.31M€5.31M=
Current assets29/58€4.42M€7.48M▲
Amounts receivable within one year40/41€4.28M€7.15M▲
Trade receivables40€142k€920k▲
Other amounts receivable41€4.14M€6.23M▲
Cash at bank and in hand54/58€86k€285k▲
Deferred charges and accrued income490/1€60k€39k▼
Equity and liabilities
Total equity and liabilities10/49€9.93M€13.05M▲
Equity10/15€4.97M€4.96M▼
Contributions10/11€2.50M€2.50M=
Capital10€2.50M€2.50M=
Issued capital100€2.50M€2.50M=
Reserves13€2.47M€2.46M▼
Non-distributable reserves130/1€165k€165k=
Legal reserve130€165k€165k=
Distributable reserves133€2.30M€2.30M▼
Amounts payable17/49€4.96M€8.09M▲
Amounts payable within one year42/48€4.96M€8.09M▲
Trade debts44€262k€131k▼
Suppliers440/4€262k€131k▼
Taxes, remuneration and social security45€41k€31k▼
Taxes450/3€16k€3k▼
Remuneration and social security454/9€25k€28k▲
Other amounts payable47/48€4.66M€7.93M▲
Income statement
Code20242025
Operating income70/76A€1.44M€1.62M▲
Turnover70€1.39M€1.62M▲
Own construction capitalised72€44k-
Other operating income74€4k€8k▲
Operating charges60/66A€1.39M€1.62M▲
Services and other goods61€1.08M€1.18M▲
Remuneration, social security and pensions62€270k€216k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€34k€112k▲
Other operating charges640/8€1k€998▼
Non-recurring operating charges66A-€113k
Operating profit (loss)9901€54k€3k▼
Financial income75/76B-€14k
Recurring financial income75-€14k
Income from financial fixed assets750-€14k
Financial charges65/66B€11k€22k▲
Recurring financial charges65€11k€22k▲
Debt charges650€7k€22k▲
Other financial charges652/9€4k-
Profit (loss) for the period before taxes9903€43k€-5k▼
Income taxes67/77€13k-
Taxes670/3€13k-
Profit (loss) for the period9904€30k€-5k▼
Profit (loss) for the period to be appropriated9905€30k€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€30k€-5k▼
Transfer from equity791/2-€5k
From reserves792-€5k
Transfer to equity691/2€30k-
To the legal reserve6920€2k-
To other reserves6921€29k-
Social balance
Average headcount (FTE)90873.12.0▼
The notes to these accounts (34 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2025
31-12
Financial
Weakest financial yearnet €-5k ▼116%
Net result drops to €-5k, the lowest in the series.
15-12
State Gazette act
Resignations & appointmentsShareholder decision · Director resignation · Director appointment19 facts ▸
State Gazette act
Resignations & appointments
Shareholder decision · Director resignation · Director appointment19 facts ▸
- Shareholder decision, 2025-11-30
- Director resignation, Vishal Kapoor (bestuurder)
- Director resignation, Annegien Maria Kooij (bestuurder)
- Director appointment, Folkert Pieter Bergstra (bestuurder)
- Director appointment, Raul Fores Valles (bestuurder)
- Director appointment, Pedro Luis Fernandez Esteve (bestuurder)
- Director appointment, Chris Verhulst (bestuurder)
- Mandate compensation, Folkert Pieter Bergstra
- Mandate compensation, Raul Fores Valles
- Mandate compensation, Pedro Luis Fernandez Esteve
- Mandate compensation, Chris Verhulst
- Mandate term, tot de goedkeuring van de jaarrekening van het boekjaar eindigend op 31 december 2030
- +7 further facts in this act
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
23-12
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Power of attorney3 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Power of attorney3 facts ▸
- General meeting, 2024-11-22
- Director resignation, Harld Johan Peters (bestuurder)
- Power of attorney, NautaDutilh BV
05-11
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor appointment · Permanent representative4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor appointment · Permanent representative4 facts ▸
- General meeting, 2024-10-10
- Auditor appointment, KPMG Bedrijfsrevisoren BV (commissaris)
- Permanent representative, Joachim Hoebeeck
- Mandate compensation, KPMG Bedrijfsrevisoren BV
22-08
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Permanent representative17 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Permanent representative17 facts ▸
- General meeting, 2024-07-31
- Director resignation, Jl Consult BV (bestuurder)
- Permanent representative, Johan Cailliez
- Director resignation, S.K.V.R. BV (bestuurder)
- Permanent representative, Stefaan Verhelst
- Director resignation, Elkar Handling BV (bestuurder)
- Permanent representative, Wim Van Osselaer
- Director resignation, Luik Natie Holding NV (bestuurder)
- Permanent representative, Gerardus van Rooijen
- Director resignation, Koen De Brabander (bestuurder)
- Director appointment, Harld Johan Peters (bestuurder)
- Director appointment, Annegien Maria Kooij (bestuurder)
- +5 further facts in this act
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
15-03
State Gazette act
MiscellaneousGeneral meeting · Statutes amendment2 facts ▸
State Gazette act
Miscellaneous
General meeting · Statutes amendment2 facts ▸
- General meeting, 2024-03-06
- Statutes amendment
2023
21-11
State Gazette act
Statutes amendmentGeneral meeting · Statutes amendment · Capital5 facts ▸
State Gazette act
Statutes amendment
General meeting · Statutes amendment · Capital5 facts ▸
- General meeting, 2023-11-08
- Statutes amendment
- Capital, €2.500.000
- Corporate purpose, 1. Het beleggen, het intekenen op, vast overnemen, plaatsen, kopen, verkopen en verhandelen van aandelen, deelbewijzen, obligaties, warrants, certificaten, schu…
- Power of attorney, KTNG & Partners
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
26-04
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director appointment4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director appointment4 facts ▸
- General meeting, 2022-06-10
- Director resignation, Gerard Van Rooijen (bestuurder)
- Director appointment, LUIK NATIE HOLDING NV (bestuurder)
- Permanent representative, Gerard Van Rooijen
2022
31-12
Financial
Highest result since 2018net €352k ▲110%
Operating result €392k, net result €352k, both a record.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
06-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director appointment3 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director appointment3 facts ▸
- General meeting, 2022-06-02
- Director resignation, DEBRAKO BV (bestuurder)
- Director appointment, Koen DE BRABANDER (bestuurder)
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
16-06
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Permanent representative5 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Permanent representative5 facts ▸
- General meeting, 2021-06-03
- Director reappointment, JOSACON BV (bestuurder)
- Permanent representative, Johan Cailliez
- Director reappointment, SKVR BV (bestuurder)
- Permanent representative, Stefaan Verhelst
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
03-01
State Gazette act
Resignations & appointmentsGeneral meeting · Director appointment · Permanent representative11 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director appointment · Permanent representative11 facts ▸
- General meeting, 2019-11-22
- Director appointment, Debrako bvba (bestuurder)
- Permanent representative, Koen De Brabander
- Director appointment, Gerard van Rooijen (bestuurder)
- Director appointment, Elkar Handling bvba (bestuurder)
- Permanent representative, Wim Van Osselaer
- Board composition, bestuurder, 2019-11-22
- Board composition, bestuurder, 2019-11-22
- Board composition, bestuurder, 2019-11-22
- Board composition, bestuurder, 2019-11-22
- Board composition, bestuurder, 2019-11-22
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
28-06
State Gazette act
Registered officeBoard meeting · Registered-office move2 facts ▸
State Gazette act
Registered office
Board meeting · Registered-office move2 facts ▸
- Board meeting, 2019-06-07
- Registered-office move, Kruipin Haven 1145 te 9130 Kallo
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2015
18-08
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Permanent representative8 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Permanent representative8 facts ▸
- General meeting, 2015-06-04
- Director reappointment, JOSACON BVBА (bestuurder)
- Permanent representative, Johar Cailliez
- Director reappointment, SKVR BVBA (bestuurder)
- Permanent representative, Stefaan Verhelst
- Director reappointment, Crescere et Credere GCV (bestuurder)
- Permanent representative, Stefaan Verhelst
- Power of attorney, SKVR BVBA
2014
28-03
State Gazette act
Statutes amendmentGeneral meeting · Statutes amendment · Power of attorney6 facts ▸
State Gazette act
Statutes amendment
General meeting · Statutes amendment · Power of attorney6 facts ▸
- General meeting, 2014-03-10
- Statutes amendment
- Statutes amendment
- Statutes amendment
- Statutes amendment
- Power of attorney, KT&G
15-01
State Gazette act
Resignations & appointmentsDirector resignation · Director discharge · Permanent representative3 facts ▸
State Gazette act
Resignations & appointments
Director resignation · Director discharge · Permanent representative3 facts ▸
- Director resignation, Quantum Progress BVBA (bestuurder)
- Director discharge, Quantum Progress BVBA (bestuurder)
- Permanent representative, Christiaan Raman
2013
23-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Permanent representative6 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Permanent representative6 facts ▸
- General meeting, 2013-03-27
- Director reappointment, QUANTUM PROGRESS BVBA (bestuurder)
- Permanent representative, Chris Raman
- Director appointment, JOSACON BVBA (bestuurder)
- Permanent representative, Johan Cailliez
- Mandate compensation, Credo Holding
2010
08-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director appointment · Permanent representative5 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director appointment · Permanent representative5 facts ▸
- General meeting, 2010-03-29
- Director appointment, QUANTUM PROGRESS BVBA (bestuurder)
- Permanent representative, Chris Raman
- Mandate compensation, QUANTUM PROGRESS BVBA
- Permanent representative, Stefaan Verhelst
15-02
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Permanent representative3 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Permanent representative3 facts ▸
- General meeting, 2010-01-04
- Director resignation, Eric Durinck (bestuurder)
- Permanent representative, Stefaan Verhelst
2009
28-08
State Gazette act
Capital & shares · Resignations & appointmentsGeneral meeting · Capital increase · Capital5 facts ▸
State Gazette act
Capital & shares · Resignations & appointments
General meeting · Capital increase · Capital5 facts ▸
- General meeting, 2009-08-05
- Capital increase, €280.000
- Capital increase, €820.000
- Capital, €2.500.000
- Director appointment, Erik August Hortense DURINCK (bestuurder)
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
27 directors, no change since 2025
Chris Verhulst
CurrentDirector · since 30-11-2025
Folkert Pieter Bergstra
CurrentDirector · since 30-11-2025
Pedro Luis Fernandez Esteve
CurrentDirector · since 30-11-2025
Raul Fores Valles
CurrentDirector · since 30-11-2025
Crescere & Credere
CurrentDirector · since 10-06-2022 · Public limited company · perm. rep.: Gerard Van Rooijen
JOSACON BV
CurrentDirector · since 03-06-2021 · Legal entity · perm. rep.: Johan Cailliez
+ 9 not shown in this overview
30-11-2025
Chris Verhulst: Appointed as Director
30-11-2025
Folkert Pieter Bergstra: Appointed as Director
30-11-2025
Pedro Luis Fernandez Esteve: Appointed as Director
30-11-2025
Raul Fores Valles: Appointed as Director
30-11-2025
KOOIJ Annegien Maria: Resigned as Director
30-11-2025
Vishal Kapoor: Resigned as Director
22-11-2024
PETERS Harld Johan: Resigned as Director
31-07-2024
KOOIJ Annegien Maria: Appointed as Director
31-07-2024
Vishal Kapoor: Appointed as Director
31-07-2024
PETERS Harld Johan: Appointed as Director
31-07-2024
Elkar Handling BV: Resigned as Director
31-07-2024
Jl Consult BV: Resigned as Director
31-07-2024
Koen De Brabander: Resigned as Director
31-07-2024
Luik Natie Holding NV: Resigned as Director
31-07-2024
S.K.V.R. BV: Resigned as Director
10-06-2022
Crescere & Credere: Appointed as Director
10-06-2022
Gerard Van Rooijen: Resigned as Director
02-06-2022
Koen De Brabander: Appointed as Director
02-06-2022
Debrako BV: Resigned as Director
03-06-2021
JOSACON BV: Mandate renewed as Director
03-06-2021
SKVR BV: Mandate renewed as Director
22-11-2019
Debrako bvba: Appointed as Director
22-11-2019
Elkar Handling BVBA: Appointed as Director
22-11-2019
Gerard Van Rooijen: Appointed as Director
+ 9 not shown in this overview
Location & real-estate footprint
Registered office, Beveren · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kruipin(KAL) 11459130 BeverenGround area
4.7 ha
Building footprint
3.1 ha
Volume, LiDAR
181,650 m³
Parcel 46010C0269/00R000, Flanders · tallest building 13.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Credo Holding
since 20092.180.327.792
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46010C0269/00R000 | Flanders | 4.7 ha | 1 · 3.1 ha | 13.7 m · 2 fl. |
Linked by address, not proof of ownership
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.
Statutory auditor
1 auditor| KPMG Réviseurs d'EntreprisesCurrent Statutory auditor · represented by Joachim Hoebeeck | 10-10-2024 → present |
Structure & network
Connections & network
6 connected companiesNetwork connections
Shared director
→
Shared director
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Shared director
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Shared director
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Show 2 more network connections
Shared director
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Shared director
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Ownership & control
4 partiesControl over this companysits on this company's board3
4 subsidiaries · 1 location
1 subsidiary · 1 location
1 subsidiary · 1 location
controls
CREDO HOLDINGBE 0815.864.723
controls
Where this company holds controlthis company sits on their board1
1 location
Capital and shareholders
Capital increase of 280,000 EUR · 280 new shares
Capital increase of 820,000 EUR · no new shares
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,056 EUR awarded · 1,056 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,056 EUR | 1,056 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 24,505 companies in sector 82990 we hold annual accounts for 9,396. 1,859 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded26-06-2009
Fiscal year end31-12
Activities, NACEBEL
62010Computer programming, consultancy and related activities
62100Computer programming
82990Other business support services
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.