De Munter - De Waele
ActiveThe computed 12-month bankruptcy probability of De Munter - De Waele is 1.7% (moderate). The 2025 annual accounts show equity of €884k and a net result of €297k. Equity is growing by ~46.5% per year across the filed fiscal years. Its solvency ranks better than 53% of 18173 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
75
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+2
Solvency63▲+12
Growth52=
Track record94
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 2.35 against 1.7 in 2024; short-term debt: 26.3% and cash: 39.7% of total assets), but 61.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
38.1%
Return on assets
12.8%
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 28-08-2026, 28 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 · 3 filingsDeviation from the deadline
2025
28 d late
2024
69 d late
2023
91 d late
← 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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€884k▲ 50.8%
2024 · €586k
2023: €338k
2024: €586k
2023 → 2025
Total assets
€2.32M▲ 4.9%
2024 · €2.21M
2023: €1.97M
2024: €2.21M
2023 → 2025
Net result
€297k▲ 20.0%
2024 · €248k
2023: €328k
2024: €248k
2023 → 2025
Working capital
€827k▲ 65.8%
2024 · €499k
2023: €308k
2024: €499k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€338k-€586k▲ 73.3%€884k▲ 50.8%
Operating result€495k-€404k▼ 18.3%€467k▲ 15.6%
Net result€328k-€248k▼ 24.4%€297k▲ 20.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 16% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.32M
Fixed assets
€884k▼ 12.1%
Current assets
€1.44M▲ 19.0%
Equity and liabilities €2.32M
Equity
€884k▲ 50.8%
Debt
€1.44M▼ 11.6%
The debt ratio falls from 73.5% to 61.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€617k▲
2024 · €544k
Cash flow
€447k▲
2024 · €388k
Solvency
38.1%▲
2024 · 26.5%
Current ratio
2.35▲
2024 · 1.70
Quick ratio
1.87▲
2024 · 1.31
Debt / equity
1.63▼
2024 · 2.78
ROE
33.7%▼
2024 · 42.3%
ROA
12.8%▲
2024 · 11.2%
Interest coverage
14.85▲
2024 · 11.85
Debt
€1.44M▼
2024 · €1.63M
Debt ≤ 1 year
€611k▼
2024 · €710k
Debt > 1 year
€819k▼
2024 · €908k
Income taxes
€133k▲
2024 · €110k
Staff costs
€70k▼
2024 · €70k
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€2.21M€2.32M▲
Fixed assets21/28€1.01M€884k▼
Intangible fixed assets21€775k€678k▼
Tangible fixed assets22/27€230k€206k▼
Land and buildings22€17k€13k▼
Plant, machinery and equipment23€163k€135k▼
Furniture and vehicles24€50k€58k▲
Current assets29/58€1.21M€1.44M▲
Amounts receivable after more than one year29€261€261=
Other amounts receivable291€261€261=
Stocks and contracts in progress3€280k€293k▲
Stocks30/36€280k€293k▲
Amounts receivable within one year40/41€181k€186k▲
Trade receivables40€180k€182k▲
Other amounts receivable41€612€4k▲
Cash at bank and in hand54/58€716k€921k▲
Deferred charges and accrued income490/1€32k€37k▲
Equity and liabilities
Total equity and liabilities10/49€2.21M€2.32M▲
Equity10/15€586k€884k▲
Contributions10/11€10k€10k=
Reserves13€576k€874k▲
Distributable reserves133€576k€874k▲
Amounts payable17/49€1.63M€1.44M▼
Amounts payable after more than one year17€908k€819k▼
Financial debts170/4€908k€819k▼
Amounts payable within one year42/48€710k€611k▼
Current portion of amounts payable after more than one year42€86k€89k▲
Trade debts44€378k€383k▲
Suppliers440/4€378k€383k▲
Taxes, remuneration and social security45€218k€110k▼
Taxes450/3€209k€94k▼
Remuneration and social security454/9€9k€16k▲
Other amounts payable47/48€28k€29k▲
Accrued charges and deferred income492/3€10k€9k▼
Income statement
Code20242025
Remuneration, social security and pensions62€70k€70k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€140k€150k▲
Other operating charges640/8€728€2k▲
Gross operating margin9900€615k€689k▲
Operating profit (loss)9901€404k€467k▲
Financial income75/76B€0€5k▲
Recurring financial income75€0€5k▲
Financial charges65/66B€46k€42k▼
Recurring financial charges65€46k€42k▼
Profit (loss) for the period before taxes9903€358k€431k▲
Income taxes67/77€110k€133k▲
Profit (loss) for the period9904€248k€297k▲
Profit (loss) for the period to be appropriated9905€248k€297k▲
Appropriation of the result
Profit (loss) to be appropriated9906€248k€297k▲
Transfer to equity691/2€248k€297k▲
To other reserves6921€248k€297k▲
The notes to these accounts (10 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 69 days late
2024
31-12
Financial
Weakest financial yearnet €248k ▼24.4%
Net result drops to €248k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €586k ▲73.3%
2 profitable years in a row build equity to €586k.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 91 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Laarne · 1 establishment unit since 2023
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.
Steentjestraat 1159270 LaarneGround area
1,490 m²
Building footprint
339 m²
Volume, LiDAR
1,733 m³
Parcel 42010B0731/00F000, Flanders · tallest building 11.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
De Munter - De Waele
since 20232.345.534.234
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42010B0731/00F000 | Flanders | 1,490 m² | 1 · 339 m² | 11.6 m · 1 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 30 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 30 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 5,223 companies in sector 47730 we hold annual accounts for 3,862. 3,109 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-05-2023
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.