CTL RETAIL
ActiveSummary
The computed 12-month bankruptcy probability of CTL RETAIL is 2.1% (moderate). The 2025 annual accounts show equity of €72,991 and a net result of €11,741. Equity is growing by ~46% per year across the filed fiscal years. Its solvency ranks better than 54% of 11502 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability78▼-22
Solvency72▲+9
Growth52▼-26
Track record82
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 2.02 against 1.69 in 2024; short-term debt: 44.4% and cash: 62.8% of total assets), but 52.7% 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
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
47.3%
Return on assets
7.6%
Age of the figures
9 mo
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 06-07-2026, 25 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
25 d early
2024
23 d early
2023
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 23 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€72,991▲ 16.9%
2024 · €62,440
Total assets
€154,471▼ 5.2%
2024 · €162,991
Net result
€11,741▼ 75.6%
2024 · €48,072
Working capital
€69,578▲ 25.0%
2024 · €55,641
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€20,129-€66,897▲ 232%€17,146▼ 74.4%
Net result€14,785within the sector's middle half-€48,072above the sector's middle half▲ 225%€11,741within the sector's middle half▼ 75.6%
Equity€15,595within the sector's middle half-€62,440within the sector's middle half▲ 300%€72,991within the sector's middle half▲ 16.9%
Total assets€95,504within the sector's middle half-€162,991within the sector's middle half▲ 70.7%€154,471within the sector's middle half▼ 5.2%
Debt€79,909-€100,551▲ 25.8%€81,480▼ 19.0%
Working capital€7,465within the sector's middle half-€55,641within the sector's middle half▲ 645%€69,578within the sector's middle half▲ 25.0%
Solvency16.3%within the sector's middle half-38.3%within the sector's middle half▲ 22.0pp47.3%within the sector's middle half▲ 8.9pp
Current ratio1.11within the sector's middle half-1.69within the sector's middle half▲ 0.582.02within the sector's middle half▲ 0.32
Return on assets (ROA)15.5%above the sector's middle half-29.5%above the sector's middle half▲ 14.0pp7.6%within the sector's middle half▼ 21.9pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 74% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €154,471
Fixed assets
€16,378 ▼ 39.6%
Current assets
€138,092 ▲ 1.6%
Equity and liabilities €154,471
Equity
€72,991 ▲ 16.9%
Debt
€81,480 ▼ 19.0%
Debt's share of the balance-sheet total falls from 61.7% to 52.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€27,889▼
2024 · €71,939
Cash flow
€22,485▼
2024 · €53,114
Quick ratio
1.79▲
2024 · 1.56
Debt to equity
1.12▼
2024 · 1.61
ROE
16.1%▼
2024 · 77.0%
Interest coverage
25.82▼
2024 · 113.91
Debt ≤ 1 year
€68,515▼
2024 · €80,228
Debt > 1 year
€12,965▼
2024 · €20,323
Income taxes
€4,397▼
2024 · €18,228
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 39,276 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €565 | €5,042 | €10,744 | ▲ 113% |
| Other operating charges640/8 | €321 | €8,555 | €896 | ▼ 89.5% |
| Gross operating margin9900 | €21,015 | €80,494 | €28,785 | ▼ 64.2% |
| Operating profit (loss)9901 | €20,129 | €66,897 | €17,146 | ▼ 74.4% |
| Financial income75/76B | - | €34 | €72 | ▲ 112% |
| Recurring financial income75 | - | €34 | €72 | ▲ 112% |
| Financial charges65/66B | €172 | €632 | €1,080 | ▲ 71.0% |
| Recurring financial charges65 | €172 | €632 | €1,080 | ▲ 71.0% |
| Profit (loss) for the period before taxes9903 | €19,957 | €66,300 | €16,138 | ▼ 75.7% |
| Income taxes67/77 | €5,172 | €18,228 | €4,397 | ▼ 75.9% |
| Profit (loss) for the period9904 | €14,785 | €48,072 | €11,741 | ▼ 75.6% |
| Profit (loss) for the period to be appropriated9905 | €14,785 | €48,072 | €11,741 | ▼ 75.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €95,504 | €162,991 | €154,471 | ▼ 5.2% |
| Fixed assets21/28 | €20,963 | €27,122 | €16,378 | ▼ 39.6% |
| Tangible fixed assets22/27 | €20,963 | €27,122 | €16,378 | ▼ 39.6% |
| Furniture and vehicles24 | €20,963 | €27,122 | €16,378 | ▼ 39.6% |
| Current assets29/58 | €74,541 | €135,869 | €138,092 | ▲ 1.6% |
| Stocks and contracts in progress3 | €8,220 | €10,730 | €15,484 | ▲ 44.3% |
| Stocks30/36 | €8,220 | €10,730 | €15,484 | ▲ 44.3% |
| Amounts receivable within one year40/41 | €46,881 | €32,709 | €25,554 | ▼ 21.9% |
| Trade receivables40 | €42,548 | €32,576 | €25,554 | ▼ 21.6% |
| Other amounts receivable41 | €4,333 | €133 | - | - |
| Cash at bank and in hand54/58 | €19,440 | €92,430 | €97,055 | ▲ 5.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €95,504 | €162,991 | €154,471 | ▼ 5.2% |
| Equity10/15 | €15,595 | €62,440 | €72,991 | ▲ 16.9% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €13,595 | €60,440 | €70,991 | ▲ 17.5% |
| Amounts payable17/49 | €79,909 | €100,551 | €81,480 | ▼ 19.0% |
| Amounts payable after more than one year17 | €10,379 | €20,323 | €12,965 | ▼ 36.2% |
| Financial debts170/4 | €10,379 | €20,323 | €12,965 | ▼ 36.2% |
| Amounts payable within one year42/48 | €67,076 | €80,228 | €68,515 | ▼ 14.6% |
| Current portion of amounts payable after more than one year42 | €4,487 | €7,058 | €7,358 | ▲ 4.2% |
| Trade debts44 | €26,502 | €4,302 | €4,651 | ▲ 8.1% |
| Suppliers440/4 | €26,502 | €4,302 | €4,651 | ▲ 8.1% |
| Taxes, remuneration and social security45 | €5,529 | €24,517 | €29,294 | ▲ 19.5% |
| Taxes450/3 | €5,529 | €24,517 | €29,294 | ▲ 19.5% |
| Other amounts payable47/48 | €30,559 | €44,351 | €27,211 | ▼ 38.6% |
| Accrued charges and deferred income492/3 | €2,454 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,785 | €48,072 | €11,741 | ▼ 75.6% |
| + Depreciation and write-downs630 | €565 | €5,042 | €10,744 | ▲ 113% |
| Operating cash flow (approximation) | €15,350 | €53,114 | €22,485 | ▼ 57.7% |
| Investment in fixed assets (approximation) | - | -€11,201 | €0 | ▲ 100% |
| Change in cash | - | €72,990 | €4,625 | ▼ 93.7% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €11,741 ▼75.6%
Net result drops to €11,741, the lowest in the series.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2023net €48,072 ▲225%
Operating result €66,897, net result €48,072, both a record.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Herve · 2 establishment units since 2023
Ground area
5,863 m²
Building footprint
842 m²
Volume, LiDAR
4,331 m³
2 parcels, Wallonia · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
CTL RETAIL
since 20232.350.964.452
Station Total Schroyen
since 20252.371.499.847
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63006D0326/00P000 | Wallonia | 5,674 m² | 1 · 785 m² | 6.2 m · 2 fl. |
| 63035A0439/00F000 | Wallonia | 189 m² | 1 · 57 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHerve2.350.964.452
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Of 6,146 companies in sector 46190 we hold annual accounts for 2,576. 1,966 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-10-2023
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
46349Wholesale of beverages, general range
46350Wholesale trade
46360Wholesale trade
47252Retail sale of beverages, general range
47260Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:1001140463
Registered
08-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.