Equity
€173,486 from €870,735 in 2019
Equity fell by 80% in 6 years.
CROUSTIFRAIS
Lifetime
20 annual accounts with figures on one time axis, 29 filings since 1997peak €1.1m (2020)
€66,485▼ 93.4%
lowest -€294,318 (2022)
-€87,119▼ €283,410
peak €870,735 (2019)
€173,486▼ 33.4%
€41,230▼ 85.6%
peak 25.9 FTE (2017)
4.5 FTE▼ 75.8%
Board9 names since 2020
3 directorsDETRY RETAIL GROUP and 2 others
Owners
Documentsfilings and deeds
02-06-202659 days before the deadline
2025financial year
Gross margin from €1.0m to €66,485Loss of €87,119Staff from 18.6 FTE to 4.5 FTERegistered office moved from Ciney to Aubel 28-02Equity from €260,605 to €173,486Debts from €286,000 to €41,230
Key points
from the 2025 annual accountsResult
-€87,119 -€87,119
From profit to loss in 2025, after a profit of €196,291 in 2024.
Staff
4.5 FTE from 25.9 in 2017
Between 2017 and 2025, 83% of the full-time equivalents disappeared.
Liquidity
5.48 was 1.88 in 2024
Short-term debts fell from €264,072 to €39,179.
Filings
29 annual accounts since 1997
Three of the last ten came late. The 2016 accounts came latest: 29 days after the end of the period.
Position in the sector
-€87,119
Lower net result than 87% of companies in retail trade. Sector median €39,880 · 5,067 companies.
Checked score
85
Excellent
Financially stronger than 52% of micro companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,271 companies (NACE 47, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 1.6%▲ +0.7 percentage points vs 02-2025
04-2025: 1.6%● unchanged vs 03-2025
05-2025: 1.9%▲ +0.3 percentage points vs 04-2025highest value
06-2025: 1.7%▼ -0.2 percentage points vs 05-2025
07-2025: 0.4%▼ -1.3 percentage points vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.2%▼ -0.2 percentage points vs 02-2026lowest value
04-2026: 0.3%▲ +0.1 percentage points vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.4%▲ +0.1 percentage points vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Loss of €87,119 (financial year 2025)
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 5.48, cash €142,119
Equity €173,486 (80.8% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 92% of them on solvency, 94% on liquidity, 6% on profitability and 15% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 5,831 companies had the same profile as CROUSTIFRAIS has now. Each dot stands for 15 companies, two years later.
84.5%
were still trading
13.4%
stopped another way
1.7%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CROUSTIFRAIS itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 5,831 companies, not a prediction for CROUSTIFRAIS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €14,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.48 (1.88 in 2024), above the usual 1.5. Short-term debt is 18.2% and cash 66.2% of total assets. 19.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 days early
2024
35 days early
2023
34 days early
2022
on the day
2021
3 days early
2020
4 days early
2019
11 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 18 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- DETRY RETAIL GROUP 100%equity €30.5m (2025) · 2025 annual accounts of DETRY RETAIL GROUP
Recent changes
Company renamed from TOUFRAIS to CROUSTIFRAIS
“La vente de produits alimentaires et de boissons,avec service de petite restauration rapide,sur place ou à…” (deed in French) · General meeting of 04-02-2026 · Gazette deed
First establishment
Rue du Général Jacques 99A, Chaudfontaine
Registered office moved from Ciney to Aubel
New registered office: rue de Battice 146, à 4880 Aubel · Previous registered office: avenue du Roi albert 94 5590 CINEY · Resignation: Virginie Lupçin (director) · General meeting of 02-01-2025 · Gazette deed
Registered office moved to Ciney
Capital decrease of €666,000 to €62,000 · Capital from €728,000 to €62,000, 200 shares cancelled · New registered office: avenue du Roi Albert 94, 5590 Ciney · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CROUSTIFRAIS Aubel | €214,717 | €66,485 | 80.8% | 4.5 |
| VAN BELLINGHEN Kampenhout | €176,725 | €115,735 | 67.5% | 3.8 |
| DELI BILZEN Bilzen-Hoeselt | €316,029 | €68,738 | 73.8% | 2.9 |
| DELI ETTERBEEK Etterbeek | €190,845 | €159,617 | 22.7% | 4.4 |
| DELI UKKEL Uccle | €162,297 | €162,826 | 81.4% | 4.8 |
| DELI DIEST Diest | €273,533 | €168,967 | 23.1% | 4.1 |
| DELI TIENEN Tienen | €190,735 | €187,979 | 21.7% | 4.7 |
These companies have the same main activity as CROUSTIFRAIS: retail sale of bread and pastry (bakery outlets) (NACE 47241). They are comparable in size and age: total assets between €162,000 and €316,000, founded between 1989 and 2000.
Official details
Source: KBO- Status
- Active since 02-05-1997Normal situation
- Registered office
- 13 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Retail sale of bread and pastry (bakery outlets)NACE 47241and 1 other
- Joint committees
- 201Independent retail
- 119Food trade · annual accounts 2025
- Establishment unit
- 2.384.846.5524051 Chaudfontaine, since 04-02-2026
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €520,000estimated
- €214,717▼ 60.7%
- Filing
- Filed on 02-06-2026, 59 days before the end of the filing period
Insights on CROUSTIFRAIS
CROUSTIFRAIS has existed since 1997. The gross margin fell from €1.0m in 2024 to €66,485 in 2025 and staff from 18.6 to 4.5 full-time equivalents.
Solvency rose in 2025 from 47.7% to 80.8% because of lower debts.
DETRY RETAIL GROUP holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CROUSTIFRAIS
- What is the company number of CROUSTIFRAIS?
- The company number of CROUSTIFRAIS is 0460.604.401. The VAT number is the same number with BE in front: BE 0460.604.401.
- Where is CROUSTIFRAIS based?
- The registered office is at Rue de Battice 146, 4880 Aubel.Company details
- What does CROUSTIFRAIS do?
- According to the KBO register, the main activity is retail sale of bread and pastry (bakery outlets) (NACE 47241).
- What is the legal form of CROUSTIFRAIS?
- CROUSTIFRAIS is a public limited company (NV).
- When was CROUSTIFRAIS founded?
- CROUSTIFRAIS was founded on 02-05-1997.
- Is CROUSTIFRAIS still active?
- Yes, CROUSTIFRAIS is an active enterprise in the KBO register.
- How many employees does CROUSTIFRAIS have?
- CROUSTIFRAIS had an average of 4.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does CROUSTIFRAIS fall under?
- In its 2025 annual accounts, CROUSTIFRAIS states joint committees 201 (Independent retail) and 119 (Food trade).
- What is the turnover of CROUSTIFRAIS?
- The turnover in financial year 2025 is ≈ €520,000. This figure is estimated from the gross margin of €66,485 and 62 comparable companies (NACE 472). It probably lies between €250,000 and €790,000.
- Is CROUSTIFRAIS profitable?
- In financial year 2025, CROUSTIFRAIS made a loss of €87,119.
- Where can I find the annual accounts of CROUSTIFRAIS?
- CROUSTIFRAIS filed 29 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CROUSTIFRAIS due?
- CROUSTIFRAIS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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