CRETES
ActiveSummary
CRETES has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €303,794. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 14% of 312 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+9
Solvency39▼-4
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.07 in 2024; short-term debt: 81.1% and cash: 0% of total assets), and 85.8% of the assets are financed with debt.
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Signals
Six 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
14.2%
Return on assets
3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 312 sector peers (2025).
NBB · sector comparisonPosition among 312 sector peers
Solvency
better than 14%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €1.5m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
138 d early
2023
67 d early
2022
16 d early
2021
4 d early
2020
60 d early
2019
73 d early
← 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 53 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema
In the rankings
#8 oldest company in Wevelgem, Manufacturing sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€303,794▲ 257%
2024 · €85,037
Working capital
€175,877▼ 45.2%
2024 · €321,181
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€975,820▲ 105%€595,278▼ 39.0%€252,498▼ 57.6%€188,397▼ 25.4%€357,823▲ 89.9%
Net result€808,360▲ 82.9%€708,858▼ 12.3%€5,862▼ 99.2%€85,037▲ 1,351%€303,794▲ 257%
Equity€1.1m▲ 1.2%€1.1m=€1.1m▲ 0.5%€1.1m▲ 7.9%€1.5m▲ 26.4%
Total assets€5.8m▲ 36.9%€8.0m▲ 38.3%€7.2m▼ 10.6%€6.3m▼ 11.8%€10.3m▲ 61.9%
Debt€4.6m▲ 50.8%€6.8m▲ 49.4%€5.9m▼ 13.1%€5.0m▼ 15.4%€8.6m▲ 72.4%
Working capital€879,583▲ 5.5%€609,087▼ 30.8%€277,380▼ 54.5%€321,181▲ 15.8%€175,877▼ 45.2%
Staff (FTE)31.4▼ 12.0%31.4=28.7▼ 8.6%27.3▼ 4.9%26.9▼ 1.5%
Why a figure moved sharply
- 2025 Net result +257% on 2024. This fiscal year ran 15 months, the previous one 12. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 90% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.3m
Fixed assets
€1.8m ▲ 53.9%
Current assets
€8.5m ▲ 63.7%
Equity and liabilities €10.3m
Equity
€1.5m ▲ 26.4%
Provisions
€157,655 ▼ 7.7%
Debt
€8.6m ▲ 72.4%
Debt's share of the balance-sheet total rises from 79.1% to 84.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€752,098▲
2024 · €436,558
Cash flow
€698,069▲
2024 · €333,198
Current ratio
1.02▼
2024 · 1.07
Quick ratio
0.37▲
2024 · 0.31
Debt to equity
5.95▲
2024 · 4.36
ROE
20.9%▲
2024 · 7.4%
ROA
3.0%▲
2024 · 1.3%
Interest coverage
13.60▲
2024 · 5.13
Debt ≤ 1 year
€8.3m▲
2024 · €4.9m
Income taxes
€3,862▼
2024 · €44,859
Staff costs
€2.8m▲
2024 · €2.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,653 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 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% | 1.6% |
| 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 74% 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 4,653 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,573 | - |
| Remuneration, social security and pensions62 | €1.9m | €2.0m | €2.1m | €2.2m | €2.8m | ▲ 31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €156,932 | €170,707 | €202,916 | €248,161 | €394,275 | ▲ 58.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | €2,154 | €311,608 | ▲ 14,366% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €16,560 | -€31,589 | €34,548 | -€19,888 | -€13,107 | ▲ 34.1% |
| Other operating charges640/8 | €20,446 | €27,202 | €25,574 | €41,301 | €81,521 | ▲ 97.4% |
| Gross operating margin9900 | €3.1m | €2.7m | €2.6m | €2.6m | €4.0m | ▲ 51.3% |
| Operating profit (loss)9901 | €975,820 | €595,278 | €252,498 | €188,397 | €357,823 | ▲ 89.9% |
| Financial income75/76B | €17,351 | €302,783 | €70,532 | €26,672 | €5,147 | ▼ 80.7% |
| Recurring financial income75 | €17,351 | €302,783 | €70,532 | €26,672 | €5,147 | ▼ 80.7% |
| Financial charges65/66B | €5,551 | €39,343 | €306,563 | €85,174 | €55,314 | ▼ 35.1% |
| Recurring financial charges65 | €5,551 | €39,343 | €306,563 | €85,174 | €55,314 | ▼ 35.1% |
| Profit (loss) for the period before taxes9903 | €987,621 | €858,718 | €16,467 | €129,896 | €307,656 | ▲ 137% |
| Income taxes67/77 | €179,261 | €149,860 | €10,605 | €44,859 | €3,862 | ▼ 91.4% |
| Profit (loss) for the period9904 | €808,360 | €708,858 | €5,862 | €85,037 | €303,794 | ▲ 257% |
| Profit (loss) for the period to be appropriated9905 | €808,360 | €708,858 | €5,862 | €85,037 | €303,794 | ▲ 257% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.8m | €8.0m | €7.2m | €6.3m | €10.3m | ▲ 61.9% |
| Fixed assets21/28 | €374,909 | €627,336 | €1.0m | €1.1m | €1.8m | ▲ 53.9% |
| Intangible fixed assets21 | - | - | - | - | €854,219 | - |
| Tangible fixed assets22/27 | €374,909 | €625,326 | €1.0m | €1.1m | €909,048 | ▼ 19.6% |
| Land and buildings22 | €169,877 | €210,582 | €506,490 | €463,161 | €430,087 | ▼ 7.1% |
| Plant, machinery and equipment23 | €77,852 | €163,965 | €204,736 | €218,890 | €114,910 | ▼ 47.5% |
| Furniture and vehicles24 | €118,758 | €243,244 | €327,281 | €443,235 | €359,406 | ▼ 18.9% |
| Other tangible fixed assets26 | €8,422 | €7,534 | €6,646 | €5,758 | €4,646 | ▼ 19.3% |
| Financial fixed assets28 | - | €2,010 | €2,010 | €14,510 | €0 | ▼ 100% |
| Current assets29/58 | €5.4m | €7.4m | €6.1m | €5.2m | €8.5m | ▲ 63.7% |
| Stocks and contracts in progress3 | €2.5m | €3.5m | €3.4m | €3.7m | €5.4m | ▲ 46.4% |
| Stocks30/36 | €820,987 | €1.1m | €1.3m | €1.2m | €951,777 | ▼ 19.5% |
| Contracts in progress37 | €1.7m | €2.4m | €2.1m | €2.5m | €4.4m | ▲ 77.4% |
| Amounts receivable within one year40/41 | €2.2m | €1.1m | €1.5m | €1.2m | €2.7m | ▲ 126% |
| Trade receivables40 | €2.1m | €1.0m | €1.3m | €1.2m | €2.4m | ▲ 98.5% |
| Other amounts receivable41 | €23,791 | €51,452 | €214,160 | €20,019 | €368,516 | ▲ 1,741% |
| Current investments50/53 | - | - | €946,522 | €0 | - | - |
| Cash at bank and in hand54/58 | €743,163 | €2.7m | €242,678 | €252,376 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | €20,818 | €28,821 | €28,282 | €33,421 | €354,819 | ▲ 962% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.8m | €8.0m | €7.2m | €6.3m | €10.3m | ▲ 61.9% |
| Equity10/15 | €1.1m | €1.1m | €1.1m | €1.1m | €1.5m | ▲ 26.4% |
| Contributions10/11 | €944,000 | €944,000 | €944,000 | €944,000 | €944,000 | = |
| Capital10 | €944,000 | €944,000 | €944,000 | €944,000 | €944,000 | = |
| Issued capital100 | €944,000 | €944,000 | €944,000 | €944,000 | €944,000 | = |
| Reserves13 | €113,381 | €113,959 | €119,821 | €204,858 | €508,652 | ▲ 148% |
| Non-distributable reserves130/1 | €94,400 | €94,400 | €94,400 | €94,400 | €94,400 | = |
| Legal reserve130 | €94,400 | €94,400 | €94,400 | €94,400 | €94,400 | = |
| Tax-exempt reserves132 | €5,677 | €5,677 | €5,677 | €5,677 | €5,677 | = |
| Distributable reserves133 | €13,304 | €13,882 | €19,744 | €104,781 | €408,575 | ▲ 290% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - | - | - |
| Investment grants15 | €2,130 | €1,644 | €1,157 | €670 | €62 | ▼ 90.8% |
| Provisions and deferred taxes16 | €187,691 | €156,102 | €190,650 | €170,762 | €157,655 | ▼ 7.7% |
| Provisions for liabilities and charges160/5 | €187,691 | €156,102 | €190,650 | €170,762 | €157,655 | ▼ 7.7% |
| Other liabilities and charges164/5 | €187,691 | €156,102 | €190,650 | €170,762 | €157,655 | ▼ 7.7% |
| Amounts payable17/49 | €4.6m | €6.8m | €5.9m | €5.0m | €8.6m | ▲ 72.4% |
| Amounts payable within one year42/48 | €4.5m | €6.8m | €5.9m | €4.9m | €8.3m | ▲ 70.9% |
| Trade debts44 | €1.4m | €1.7m | €922,840 | €830,487 | €557,338 | ▼ 32.9% |
| Suppliers440/4 | €1.4m | €1.7m | €922,840 | €830,487 | €557,338 | ▼ 32.9% |
| Advances received on contracts in progress46 | €1.8m | €3.4m | €2.1m | €1.4m | €7.1m | ▲ 398% |
| Taxes, remuneration and social security45 | €391,844 | €327,801 | €359,797 | €358,333 | €318,249 | ▼ 11.2% |
| Taxes450/3 | €24,896 | €7,803 | €389 | €8,488 | €10,423 | ▲ 22.8% |
| Remuneration and social security454/9 | €366,948 | €319,998 | €359,409 | €349,845 | €307,827 | ▼ 12.0% |
| Other amounts payable47/48 | €1.0m | €1.4m | €2.5m | €2.3m | €367,326 | ▼ 83.7% |
| Accrued charges and deferred income492/3 | €7,290 | €20,718 | €68,915 | €146,445 | €328,776 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €808,360 | €708,858 | €5,862 | €85,037 | €303,794 | ▲ 257% |
| + Depreciation and write-downs630 | €156,932 | €170,707 | €202,916 | €248,161 | €394,275 | ▲ 58.9% |
| Operating cash flow (approximation) | €965,292 | €879,566 | €208,778 | €333,198 | €698,069 | ▲ 110% |
| Investment in fixed assets (approximation) | - | -€423,134 | -€622,744 | -€346,552 | -€1.0m | ▼ 192% |
| Change in cash | - | €2.0m | -€2.5m | €9,698 | -€252,376 | ▼ 2,702% |
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
2026
23-09
State Gazette act
Appointment: RSM INTERAUDIT (statutory auditor)Permanent representative: Jonas Uytterhaegen3 facts ▸
State Gazette act
Appointment: RSM INTERAUDIT (statutory auditor)
Permanent representative: Jonas Uytterhaegen3 facts ▸
- General meeting, 30-06-2026
- Auditor appointment, RSM INTERAUDIT (statutory auditor)
- Permanent representative, Jonas Uytterhaegen (permanent representative)
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
13-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
23-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Weakest financial yearnet €5,862 ▼99.2%
Net result drops to €5,862, the lowest in the series; recovery starts the following year.
14-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
26-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
09-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
19-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
RSM INTERAUDIT
CurrentStatutory auditor · since 23-09-2026 · perm. rep.: Jonas Uytterhaegen
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Wevelgem · 1 establishment unit since 1972
Ground area
6,871 m²
Building footprint
4,316 m²
Volume, LiDAR
37,464 m³
Parcel 34012C0388/00M003, Flanders · tallest building 12.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Cretes
since 19722.007.167.154
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34012C0388/00M003 | Flanders | 6,871 m² | 1 · 4,316 m² | 12.9 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.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| RSM INTERAUDIT |
|
Structure & network
Part of the group
VALTECH
20 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- VALTECH
- CRETES
Highest known parent: VALTECH. The sources do not say who stands above it.
Owners 1
- VALTECHparentSourceaccounts VALTECH 2025100%
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 355,824 EUR awarded · 153,845 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 328,428 EUR | 131,809 EUR |
| 2024 | 2 | 596 EUR | 22,036 EUR |
| 2022 | 1 | 26,800 EUR | 0 EUR |
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Of 48 companies in sector 28940 we hold annual accounts for 35. 27 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
Founded03-05-1972
Fiscal year end31-12
Activities, NACEBEL 2025
28940Manufacture of machinery and equipment not elsewhere classified
28990Manufacture of machinery and equipment not elsewhere classified
E-invoicing
Reachable via Peppol
Peppol ID
0208:0412423610
Also
9925:BE0412423610
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.