Equity
-€3,477
Debts exceed assets in financial year 2025.
ESTIMA STABLES
Lifetime
11 annual accounts with figures on one time axispeak €6,409 (2017)
-€15,485▼ €13,047
lowest -€18,542 (2025)
-€18,542▼ €14,195
peak €23,286 (2022)
-€3,477▼ €18,542
€56,511▲ 58.9%
Board1 name since 2013
1 directorGODECHARLE Eddy Edgard Angèle
Documentsfilings and deeds
30-04-2026on the last day
2025micro format
Gross margin from -€2,438 to -€15,485Loss of €18,542Equity from €15,064 to -€3,477Debts from €35,554 to €56,511Cash from €3,243 to €5,556
Key points
from the 2025 annual accountsLosses
-€26,763 in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€56,511 107% of the balance sheet
Suppliers 42%Taxes and wages 3%Other 56%
Liquidity
0.93 was 1.40 in 2024
Short-term debts rose from €35,554 to €56,511.
Filings
11 annual accounts since 2015
The last five annual accounts were filed 0 to 43 days before the end of the period.
Position in the sector
-€18,542
Lower net result than 85% of companies in crop and animal production. Sector median €7,141 · 3,719 companies.
Turnover not published (micro format)
Checked score
53
Fair
Financially stronger than 8% of micro companies in crop and animal production (NACE 01)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 5,696 companies (NACE 01, micro).
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025lowest value
04-2025: 0.4%▲ +0.1 percentage points vs 03-2025
05-2025: 0.3%▼ -0.1 percentage points vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.3%● unchanged 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 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.4%▲ +0.1 percentage points vs 03-2026
05-2026: 0.7%▲ +0.3 percentage points vs 04-2026highest value
06-2026: 0.7%● unchanged vs 05-2026highest value
07-2026: 0.7%● unchanged vs 06-2026highest value
08-2026: 0.7%● unchanged vs 07-2026highest value
09-2026: 0.7%● unchanged vs 08-2026highest value
10-2026: 0.7%● unchanged vs 09-2026highest value
11-2026: 0.7%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€3,477
Loss of €18,542, the second in a row (financial year 2025)
lowers risk
Size: total assets €53,034
Sector: Crop and animal production, hunting and related service activities (NACE 01)
Calculation
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 01, micro). It does better than 13% of them on solvency, 11% on liquidity, 4% on profitability and 3% 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 30-09-2025.
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).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as ESTIMA STABLES has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ESTIMA STABLES itself is lower: 0.7% within 12 months. It rests on far more data about ESTIMA STABLES than the profile alone.
Test of the method
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 6,907 companies, not a prediction for ESTIMA STABLES. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.93 (1.4 in 2024), below 1. Short-term debt is 106.6% and cash 10.5% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€3,477
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
1 day early
2023
43 days early
2022
13 days early
2021
31 days early
2020
22 days early
2019
28 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 20 days before the deadline. In the sector (NACE 01), the median for financial year 2024 was 3 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 17 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end09-11-2026 today30-04-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0543465363
Appointment: GODECHARLE Eddy Edgard Angèle (statutory director)
Reappointment: GODECHARLE Eddy Edgard Angèle (statutory director) · Director discharge: GODECHARLE Eddy Edgard Angèle · General meeting of 05-10-2023 · Gazette deed
Incorporation
published on 23-12-2013 · Gazette deed
First establishment
Lotenhullestraat 29, Aalter
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ESTIMA STABLES Aalter | €53,034 | -€15,485 | -6.6% | - |
| De Waasdonck Antwerp | €58,793 | -€288 | -260.5% | 0.8 |
| Angélique Dufays Léglise | €65,885 | -€21,834 | -161.4% | - |
| Pladutse Stud Oudenaarde | €74,066 | -€4,386 | 92.0% | - |
| Jalex DW Trading Tervuren | €57,461 | -€58,319 | -101.5% | - |
| ALLARO Tienen | €42,817 | -€2,359 | 44.6% | - |
| PVM HORSES Beveren-Kruibeke-Zwijndrecht | €88,872 | -€11,038 | -108.3% | - |
These companies have the same main activity as ESTIMA STABLES: raising of horses and other equines (NACE 01430). They are comparable in size and age: total assets between €42,800 and €88,900, founded between 2011 and 2017.
Official details
Source: KBO- Status
- Active since 19-12-2013Normal situation
- Activity
- Raising of horses and other equinesNACE 01430and 5 others
- Establishment unit
- 2.225.810.3029881 Aalter, since 19-12-2013
- Financial year end
- 30 September
- Peppol
- Reachable since 11-12-2025
Annual accounts to 30-09-2025
- €53,034▲ 4.8%
- Filing
- Filed on 30-04-2026, on the last day of the filing period
Insights on ESTIMA STABLES
ESTIMA STABLES files the micro format. That format states no turnover. The gross margin fell from €5,799 in 2015 to -€15,485 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ESTIMA STABLES
- What is the company number of ESTIMA STABLES?
- The company number of ESTIMA STABLES is 0543.465.363. The VAT number is the same number with BE in front: BE 0543.465.363.
- Where is ESTIMA STABLES based?
- The registered office is at Lotenhullestraat 29, 9881 Aalter.Company details
- What does ESTIMA STABLES do?
- According to the KBO register, the main activity is raising of horses and other equines (NACE 01430).
- What is the legal form of ESTIMA STABLES?
- ESTIMA STABLES is a private limited company (BV).
- When was ESTIMA STABLES founded?
- ESTIMA STABLES was founded on 19-12-2013.
- Is ESTIMA STABLES still active?
- Yes, ESTIMA STABLES is an active enterprise in the KBO register.
- What is the turnover of ESTIMA STABLES?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is ESTIMA STABLES profitable?
- In financial year 2025, ESTIMA STABLES made a loss of €18,542.
- Where can I find the annual accounts of ESTIMA STABLES?
- ESTIMA STABLES filed 11 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ESTIMA STABLES due?
- ESTIMA STABLES must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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