Losses
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Of this, €576,990 falls due within a year.
Green is investment, beige is depreciation.
In 2025, 1 person joined and 1 left.
The 2021 accounts came latest: 109 days after the end of the period.
Lower net result than 87% of companies in wholesale trade. Sector median €26,728 · 9,878 companies.
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 46, micro). It does better than 37% of them on solvency, 35% on liquidity, 32% on profitability and 29% on growth.
The bankruptcy probability was computed on 09-11-2026 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 2,166 companies had the same profile as Equestrix has now. Each dot stands for 6 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Equestrix itself: 1.1% within 12 months.
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 2,166 companies, not a prediction for Equestrix. 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.
Liquidity is tight, with a current ratio of 1.15 (1.44 in 2024), below the usual 1.5. Short-term debt is 31.8% and cash 0.7% of total assets. 73.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 66 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Equestrix Jabbeke | €1.8m | €139,869 | 26.6% | 0.8 |
| DUROC D'OLIVES Lochristi | €1.4m | €250,707 | 12.6% | 1 |
| AGRINIX Welkenraedt | €1.7m | €168,338 | 31.5% | 0.5 |
| DUMONT F & F Frasnes-lez-Anvaing | €1.0m | €217,042 | 72.7% | 0 |
| GIMF Zedelgem | €2.9m | €133,178 | 55.8% | - |
| Léon JACQUET Vielsalm | €0.5m | €190,359 | 39.5% | 1 |
| Okser Lichtervelde | €1.6m | €84,738 | 99.8% | - |
These companies have the same main activity as Equestrix: wholesale trade (NACE 46110). They are comparable in size and age: total assets between €454,000 and €2.9m, founded between 2005 and 2015.
Equestrix files the abbreviated format. That format states no turnover. The gross margin rose from €58,209 in 2017 to €139,869 in 2025.
The balance sheet grew most from 2020 to 2022 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €530,000. Estimated: probably between €250,000 and €1.3m.
Higher than 33% of 9,902 companies in 2025.
Higher than 27% of 9,665 companies in 2025.
Higher than 20% of 9,780 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 1 person joined and 1 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
1.8m | 2.0m | 2.1m | 2.1m | 1.7m | 672,192 | 603,790 | 388,568 | 143,935 | |
21/28 |
1.2m | 1.3m | 1.3m | 1.3m | 1.3m | 180,591 | 47,974 | 50,989 | 38,838 | |
22/27 |
1.1m | 1.3m | 1.3m | 1.3m | 1.3m | 94,691 | 47,074 | 50,989 | 38,838 | |
22 |
1.1m | 1.1m | 1.1m | 1.2m | 1.1m | - | - | - | - | |
23 |
26,322 | 49,545 | 44,228 | 55,594 | 66,105 | 29,316 | 927 | 272 | 393 | |
24 |
33,873 | 95,543 | 108,976 | 70,307 | 97,757 | 65,375 | 46,147 | 50,717 | 38,446 | |
28 |
1,152 | 1,152 | 1,152 | 1,152 | 1,152 | 85,900 | 900 | - | - | |
29/58 |
662,377 | 723,813 | 796,302 | 803,740 | 407,609 | 491,601 | 555,816 | 337,579 | 105,096 | |
3 |
129,460 | 126,710 | 116,960 | 158,460 | 287,340 | 265,269 | 151,897 | 16,769 | 16,769 | |
30/36 |
129,460 | 126,710 | 116,960 | 158,460 | 287,340 | 265,269 | 151,897 | 16,769 | 16,769 | |
40/41 |
516,719 | 574,018 | 634,604 | 642,821 | 69,767 | 221,864 | 334,803 | 224,565 | 77,075 | |
40 |
486,958 | 538,786 | 592,109 | 562,240 | 38,451 | 214,924 | 331,059 | 198,870 | 52,583 | |
41 |
29,761 | 35,232 | 42,495 | 80,581 | 31,316 | 6,940 | 3,743 | 25,695 | 24,492 | |
54/58 |
13,419 | 21,838 | 43,987 | 2,459 | 50,502 | 4,468 | 69,116 | 96,245 | 11,252 | |
490/1 |
2,778 | 1,247 | 751 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
1.8m | 2.0m | 2.1m | 2.1m | 1.7m | 672,192 | 603,790 | 388,568 | 143,935 | |
10/15 |
482,503 | 517,467 | 518,997 | 518,661 | 490,350 | 293,815 | 161,999 | 87,249 | 13,644 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | |
13 |
463,903 | 498,867 | 500,397 | 500,061 | 477,950 | 281,415 | 149,599 | 74,849 | 1,244 | |
130/1 |
- | - | - | - | 1,922 | 1,922 | - | - | - | |
130 |
- | - | - | - | - | - | 1,922 | 1,922 | 62 | |
1311 |
- | - | - | - | 1,922 | 1,922 | - | - | - | |
133 |
463,903 | 498,867 | 500,397 | 500,061 | 476,028 | 279,493 | 147,676 | 72,927 | 1,181 | |
17/49 |
1.3m | 1.5m | 1.6m | 1.6m | 1.2m | 378,377 | 441,791 | 301,319 | 130,291 | |
17 |
753,760 | 971,966 | 995,993 | 984,411 | 985,600 | 13,060 | 10,696 | 45,277 | 46,663 | |
170/4 |
753,760 | 971,966 | 995,993 | 984,411 | 985,600 | 13,060 | 10,696 | 45,277 | 46,663 | |
42/48 |
576,990 | 504,048 | 548,583 | 591,309 | 205,524 | 365,317 | 431,095 | 249,681 | 83,628 | |
42 |
91,904 | 91,986 | 78,407 | 58,503 | 44,315 | 14,290 | 19,014 | 17,810 | 17,543 | |
43 |
- | - | - | 25,000 | - | 25,000 | - | - | - | |
430/8 |
- | - | - | 25,000 | - | 25,000 | - | - | - | |
44 |
471,594 | 377,893 | 439,922 | 459,952 | 136,769 | 293,496 | 367,993 | 196,234 | 49,027 | |
440/4 |
471,594 | 377,893 | 439,922 | 459,952 | 136,769 | 293,496 | 367,993 | 196,234 | 49,027 | |
45 |
13,493 | 15,820 | 11,905 | 29,505 | 24,439 | 32,532 | 29,335 | 33,123 | 8,558 | |
450/3 |
2,418 | 5,829 | 3,801 | 21,060 | 19,890 | 32,372 | 26,538 | 30,423 | 6,469 | |
454/9 |
11,075 | 9,991 | 8,104 | 8,445 | 4,549 | 160 | 2,797 | 2,699 | 2,090 | |
47/48 |
- | 18,349 | 18,349 | 18,349 | - | - | 14,754 | 2,515 | 8,500 | |
492/3 |
- | - | 17,504 | 8,475 | - | - | - | 6,360 | - | |
| Income statement | ||||||||||
9900 |
139,869 | 175,900 | 152,538 | 169,520 | 355,984 | 201,048 | 130,998 | 121,398 | 58,209 | |
62 |
23,467 | 39,807 | 21,078 | 20,977 | 4,560 | 10,621 | 1,564 | 2,446 | 9,877 | |
630 |
104,742 | 89,093 | 98,023 | 98,992 | 94,359 | 16,033 | 13,633 | 18,423 | 21,367 | |
640/8 |
13,294 | 15,575 | 10,356 | 8,526 | 26,965 | 2,536 | 11,016 | 3,158 | 14,608 | |
9901 |
-1,635 | 31,425 | 23,081 | 41,026 | 230,100 | 171,858 | 104,785 | 97,371 | 12,358 | |
75/76B |
3,817 | 6,359 | 37 | 898 | 117 | 563 | 536 | 1,793 | 668 | |
75 |
3,817 | 6,359 | 37 | 898 | 117 | 563 | 536 | 1,793 | 668 | |
65/66B |
36,371 | 37,694 | 21,381 | 18,398 | 15,321 | 3,760 | 5,044 | 2,375 | 5,314 | |
65 |
36,371 | 37,694 | 21,381 | 18,398 | 15,321 | 3,760 | 5,044 | 2,375 | 5,314 | |
9903 |
-34,189 | 91 | 1,736 | 23,525 | 214,895 | 168,661 | 100,277 | 96,789 | 7,712 | |
67/77 |
775 | 1,621 | 1,400 | 1,415 | 18,360 | 36,845 | 25,528 | 23,183 | 6,469 | |
9904 |
-34,964 | -1,530 | 337 | 22,110 | 196,535 | 131,816 | 74,749 | 73,606 | 1,244 | |
9905 |
-34,964 | -1,530 | 337 | 22,110 | 196,535 | 131,816 | 74,749 | 73,606 | 1,244 | |
| Appropriation of the result | ||||||||||
9906 |
-34,964 | -1,530 | 337 | 22,110 | 196,535 | 131,816 | 74,749 | 73,606 | 1,244 | |
791/2 |
34,964 | 1,530 | - | - | - | - | - | - | - | |
691/2 |
- | - | 337 | 22,110 | 196,535 | 131,816 | 74,749 | 73,606 | 1,244 | |
6920 |
- | - | - | - | - | - | - | 1,860 | 62 | |
6921 |
- | - | 337 | 22,110 | 196,535 | 131,816 | 74,749 | 71,746 | 1,181 | |
| Social balance sheet | ||||||||||
9087 |
0.8 | 1.1 | 0.7 | 0.7 | 0.4 | 0.6 | 0.3 | - | 0.3 | |
Hours worked1013 |
1,438 | 1,976 | 1,115 | 1,230 | 315 | 543 | 960 | - | 652 | |
| Document | ||||||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00473182.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00473182 | |
| 31-12-2024 | abbreviated format | 30-09-2025 | 2025-00519101 | |
| 31-12-2023 | abbreviated format | 08-10-2024 | 2024-00500848 | |
| 31-12-2022 | abbreviated format | 12-10-2023 | 2023-00484067 | |
| 31-12-2021 | abbreviated format | 17-11-2022 | 2022-20522253 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-61200333 | |
| 31-12-2019 | micro format | 26-10-2020 | 2020-63400385 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-61700208 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-58900525 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 103,108 | 120,518 | 121,103 | 140,018 | 324,458 | 187,891 | 118,418 | 115,794 | 33,725 | ||
| 69,779 | 87,563 | 98,359 | 121,102 | 290,894 | 147,850 | 88,382 | 92,028 | 22,610 | ||
| 29,845 | 130,228 | 126,891 | 126,242 | 1.3m | 148,650 | 36,870 | 30,573 | 108,705 | ||
| -8,419 | -22,149 | 41,528 | -48,043 | 46,034 | -64,648 | -27,128 | 84,993 | - | ||
| 85,387 | 219,766 | 247,718 | 212,431 | 202,085 | 126,284 | 124,720 | 87,898 | 21,468 | ||
| 26.6% | 26.0% | 24.9% | 24.7% | 29.2% | 43.7% | 26.8% | 22.5% | 9.5% | ||
| 1.15 | 1.44 | 1.45 | 1.36 | 1.98 | 1.35 | 1.29 | 1.35 | 1.26 | ||
| 0.92 | 1.18 | 1.24 | 1.09 | 0.59 | 0.62 | 0.94 | 1.28 | 1.06 | ||
| 2.76 | 2.85 | 3.01 | 3.05 | 2.43 | 1.29 | 2.73 | 3.45 | 9.55 | ||
| -7.2% | -0.3% | 0.1% | 4.3% | 40.1% | 44.9% | 46.1% | 84.4% | 9.1% | ||
| -1.9% | -0.1% | 0.0% | 1.1% | 11.7% | 19.6% | 12.4% | 18.9% | 0.9% | ||
| 2.83 | 3.20 | 5.66 | 7.61 | 21.18 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.4 | 0.4 | 0.7 | 0.7 | 0.7 |
| 0.8 | 1.1 | 0.7 | 0.7 | 0.4 | |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | 1 | 1 | - | - | - |
| Left | 1 | 1 | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €29,845 | €130,228 | €126,891 | €126,242 | €1.3m |
| Financial fixed assets | - | - | - | - | €252 |
| €104,742 | €89,093 | €98,023 | €98,992 | €94,359 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €1,635, after a profit of €31,425 in 2024. It is the lowest result since 2017.
Debt's share of the balance-sheet total falls from 74.0% to 73.4%. Equity and debt are lower.
Equestrix has no parent and no holdings in its annual accounts. Tom De Bel is the only director. Equestrix shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Equestrix Agency registered office Torhoutweg 35, 8490 Jabbeke | 21-04-2016 | 2.252.871.322 |
| 02-09-2019 | Granted | Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen; Nieuwbouw of aanleggen; Slopen van niet vrijstaande gebouwen of constructies; Verbouwen en/of uitbreiden met functiewijziging, maar zonder wijziging van het aantal woongelegenheden; Verbouwen en/of uitbreiden van bijgebouwen en niet overdekte lage constructies submitted 18-04-2019 · project 2019044205 | Jabbeke |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31012A0514/00C000 | 822 m² | 1 · 240 m² | 11.7 m · 2 |
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