Checked.be
Active
BE 0449.869.766Private limited company (pre-2019)
DE WINTER
Grote Markt 68 ·2500 Lier, Belgium· 33 yrs active
Sector: Retail sale of footwear
(47721)
Conclusion
DE WINTER has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39k and a net result of €18k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 17366 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €39k |
| Net result | €18k |
| Better than sector | 25% |
| Active | 33 yrs |
Financial profile
66
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
43
Profitability
100
Solvency
11
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1993, 33 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
43
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€2k
estimate, not credit advice
Score history
15
2021
15
2022
15
2023
46
2024
43
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.82 (< 1.0)
-10
Leverage
Debt/equity 19.59 (> 3.0)
-10
Profitability
ROE 47% (≥ 10%)
+10
Interest coverage
Interest coverage 2.1×
+3
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 19-12-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~75% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 4.9% | 34.6% | |
| Net result | €18k | €5k | |
| Equity | €39k | €44k | |
| Gross operating margin | €84k | €34k | |
| Staff costs | €-2k | €40k |
€75k
-41.7%
21-25
€18k
-58.3%
21-25
€38k
-44.3%
21-25
€797k
-1.4%
21-25
€39k
+88.4%
21-25
€-94k
+47.4%
21-25
1
-47.1%
21-25
€-2k
-
21-25
€1k
+159.1%
21-25
€758k
-3.7%
21-25
€529k
-12.3%
21-25
€67k
+112.8%
21-25
0.82
+16.8%
21-25
0.66
+17.0%
21-25
4.9%
+91.0%
21-25
19.59
-48.9%
21-25
46.9%
-77.9%
21-25
2.3%
-57.7%
21-25
2.09
-2.9%
21-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | -41.7% | +88.6% | +62.1% | +56.3% | - |
| Net profit | -58.3% | - | +86.1% | +82.8% | - |
| Cash flow | -44.3% | +238.6% | - | +99.5% | - |
| Staff costs | - | -59.8% | +45.6% | - | - |
| Income taxes | +159.1% | +65.1% | +6.3% | - | - |
| Dividends | - | - | - | - | - |
| Total assets | -1.4% | -4.6% | -7.5% | -4.4% | - |
| Equity | +88.4% | - | -28.4% | - | - |
| Debt | -3.7% | -9.5% | -6.8% | -0.6% | - |
| of which ≤ 1y | -12.3% | -28.2% | +1.8% | +9.8% | - |
| of which > 1y | - | - | -71.6% | -41.7% | - |
| Working capital | +47.4% | +55.4% | -17.3% | -40.4% | - |
| Employees (FTE) | - | -47.1% | -22.7% | +2100.0% | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.82 | 0.70 | 0.52 | 0.59 | 0.68 |
| Quick ratio | 0.66 | 0.57 | 0.41 | 0.37 | 0.40 |
| Working capital ratio | -11.8% | -22.1% | -47.2% | -37.2% | -25.3% |
| Solvency | 4.9% | 2.5% | -2.7% | -2.0% | 2.0% |
| Debt / equity | 19.59 | 38.34 | -37.81 | -52.13 | 10.10 |
| Long-term debt ratio | 1.72 | - | -1.36 | -6.16 | 10.10 |
| Interest coverage | 2.09 | 2.15 | 1.42 | 0.98 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 2.3% | 5.4% | -0.6% | -4.0% | -22.3% |
| ROE | 46.9% | 212.0% | 22.1% | 204.7% | -1139.7% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €797k | €808k | €847k | €916k | €958k |
| Fixed assets | 21/28 | €362k | €384k | €408k | €433k | €451k |
| Tangible fixed assets | 22/27 | €361k | €382k | €406k | €432k | €449k |
| Financial fixed assets | 28 | €2k | €2k | €2k | €2k | €2k |
| Current assets | 29/58 | €435k | €424k | €439k | €483k | €508k |
| Stocks & contracts in progress | 3 | €85k | €84k | €92k | €177k | €205k |
| Amounts receivable within one year | 40/41 | €327k | €326k | €330k | €286k | €287k |
| Cash & bank | 54/58 | €23k | €15k | €17k | €20k | €16k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €797k | €808k | €847k | €916k | €958k |
| Equity | 10/15 | €39k | €21k | €-23k | €-18k | €19k |
| Contributions / capital | 10/11 | €195k | €195k | €195k | €195k | - |
| Reserves | 13 | €38k | €38k | €38k | €38k | €38k |
| Accumulated profits (losses) | 14 | €-194k | €-212k | €-256k | €-250k | €-214k |
| Amounts payable | 17/49 | €758k | €788k | €870k | €934k | €940k |
| Amounts payable after one year | 17 | €67k | - | €31k | €110k | €189k |
| Amounts payable within one year | 42/48 | €529k | €603k | €839k | €824k | €750k |
| Trade debts payable within one year | 44 | €100k | €60k | €139k | €175k | €232k |
| Income statement | ||||||
| Gross operating margin | 9900 | €84k | €160k | €133k | €103k | €45k |
| Operating result | 9901 | €55k | €104k | €43k | €6k | €-7k |
| Financial income | 75 | €2 | €1 | €85 | €64 | €3k |
| Financial charges | 65 | €36k | €60k | €48k | €43k | €36k |
| Result before taxes | 9903 | €19k | €44k | €-5k | €-36k | €-40k |
| Income taxes | 67/77 | €1k | €386 | €234 | €220 | - |
| Net result for the period | 9904 | €18k | €44k | €-5k | €-37k | €-40k |
| Result to be appropriated | 9905 | €18k | €44k | €-5k | €-37k | €-40k |
Legal Structure
| NACE primary | Retail sale of footwear(47721) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 15-04-1993 |
| Status | Active |
| Postal code | 2500 |
Establishment units
DE WINTER BVBA
since 19932.061.944.242
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12021G0868/00B000 | Flanders | 190 m² | 1 · 188 m² | 16.0 m · 4 fl. |
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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Updates
Next filing, fiscal year 2026, expected by
2025
19-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Back to profitnet €44k
Net result €44k after 3 loss-making years.
11-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Retail sale of footwear47721
Names & trade names
| Legal nameNL | DE WINTER |
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