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CULINOR

Active
Public limited companyfounded 1987active for 38 yearsHoutstraat 46, 9070 Destelbergen, BelgiumKBO/BCE: BE 0432.833.301
Summary

CULINOR has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11.3m and a net result of €3.1m. Equity is shrinking by about 3.2% per year across the filed financial years. Its solvency ranks better than 44% of 778 sector peers (NACE 10, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Overview

Activity
Manufacture of food products
NACE 10890Manufacture of food products NACE 10850
Largest employer in Destelbergen2 sites
Size
€76.9mturnover 2025
Staff
232.1 FTE
Equity
€11.3m
Profit
€3.1m
Financial health
84 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Structure
Parent
Culinor Food Group · 100%
Holdings
1
Auditor: Forvis Mazars Bedrijfsrevisoren BVAccounts 45 days early1 of 18 deeds read
Why 84raises riskLiquidity: current ratio 1.15, cash €1,003, halvedSector: Manufacture of food products (NACE 10)lowers riskFounded in 1987Size: turnover €76.9m, 232.1 FTE, total assets €31.6mShow the evidence

Checked score

Score 2025
84 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 35% of its sector peers (NACE 10, medium-sized)
Financial strength · tick = 2024
Average
Solvency 61-2
equity 35.7% of total assets
Liquidity 17-4
short-term debt 63.1% · cash 0.0%
Profitability 71-3
return on assets 9.8%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (225 companies, NACE 10, medium-sized)
Last 24 months 11-2024: 0.3% 12-2024: 0.3%● unchanged vs 11-2024 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.3%● unchanged vs 03-2025 05-2025: 0.3%● unchanged vs 04-2025 06-2025: 0.3%● unchanged vs 05-2025 07-2025: 0.4%▲ +0.1 percentage points vs 06-2025highest value 08-2025: 0.3%▼ -0.1 percentage points vs 07-2025 09-2025: 0.3%● unchanged vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.3%● unchanged vs 01-2026lowest value 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged 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: 0.3%● unchanged vs 09-2026
Credit of up to €900,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.15, compared with 1.31 in 2024, below the usual 1.5; short-term debt: 63.1% and cash: 0% of total assets), and 64.3% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 10, medium-sized): better than 42% on solvency, 10% on liquidity, 62% on profitability and 29% on growth.

The bankruptcy probability was computed on 15-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 1.15, cash €1,003, halved
NBB · annual accounts
lowers risk · Founded in 1987
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Sector: Manufacture of food products (NACE 10)
KBO
lowers risk · Size: turnover €76.9m, 232.1 FTE, total assets €31.6m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
45 days early
2024
23 days early
2023
40 days early
2022
42 days early
2021
41 days early
2020
33 days early
2019
3 days late
← 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 32 days before the deadline; the sector median (NACE 10) for financial year 2024 is 4 days before the deadline, and 38% 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 20 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
16-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Permanent representative: Filip De SpiegeleireAppointment: BV Forvis Mazars Bedrijfsrevisoren…
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Positive: Largest employer in Destelbergenin the Checked rankings No. 1 View
  • Positive: 8 profitable years in a rowprofit 2025: €3.1m 8 years View
  • Controlled by Culinor Food Groupultimately: Orior AG 100% View
  • Positive: Filed on time since financial year 2020accounts within the deadline every year 6 years View
  • Flemish supportawarded from 2022 to 2025 €147,478 View

By topic

Financials

Financial year
2025
Turnover
€76.9m
Profit
€3.1m
Solvency
35.7%
Turnover▼ 1.6%
Net result
20182025
Go to Financials

Timeline

Events
42
Since
1989
Next accounts
by 31-07-2027
  1. 21-06-2024Annual accounts filed
  2. 19-06-2023Annual accounts filed
  3. 20-06-2022Annual accounts filed
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Manufacture of food productsNACE 10890
Founded
09-12-1987
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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