ETHNICRAFT
ActiveETHNICRAFT has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.79M and a net result of €-8.53M. Equity is growing by ~24.6% per year across the filed fiscal years. Its solvency ranks better than 34% of 4830 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-36
Solvency56▼-41
Growth56▼-19
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €320k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 2.16 in 2024), and 69.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 46
Relative position
BE, all sectors
reference
Sector 46
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
30.7%
Return on assets
-38.5%
Age of the figures
9 mo
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
3 d early
2023
4 d late
2022
3 d early
2021
31 d early
2020
31 d early
2019
22 d early
← 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€38.80M▼ 2.4%
2024 · €39.76M
2018: €21.62M
2019: €23.50M
2020: €29.12M
2021: €41.72M
2022: €48.89M
2023: €40.89M
2024: €39.76M
2018 → 2025
EBIT margin
6.2%▼ 0.7pp
2024 · 6.8%
2018: 6.4%
2019: 5.2%
2020: 9.4%
2021: 6.2%
2022: 8.6%
2023: 6.8%
2024: 6.8%
2018 → 2025
Net result
€-8.53M
2024 · €1.78M
2018: €815k
2019: €746k
2020: €1.89M
2021: €1.76M
2022: €3.17M
2023: €1.75M
2024: €1.78M
2018 → 2025
Working capital
€5.69M▼ 59.6%
2024 · €14.06M
2018: €3.56M
2019: €3.99M
2020: €5.96M
2021: €8.12M
2022: €11.18M
2023: €12.53M
2024: €14.06M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€41.72M-€48.89M▲ 17.2%€40.89M▼ 16.4%€39.76M▼ 2.8%€38.80M▼ 2.4%
Equity€8.62M-€11.79M▲ 36.8%€13.53M▲ 14.8%€15.32M▲ 13.2%€6.79M▼ 55.7%
Operating result€2.59M-€4.21M▲ 62.4%€2.77M▼ 34.3%€2.72M▼ 1.7%€2.39M▼ 11.9%
Net result€1.76M-€3.17M▲ 80.0%€1.75M▼ 44.8%€1.78M▲ 2.0%€-8.53M
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 12% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22.14M
Fixed assets
€1.38M▼ 9.3%
Current assets
€20.76M▼ 20.8%
Equity and liabilities €22.14M
Equity
€6.79M▼ 55.7%
Debt
€15.35M▲ 23.5%
The debt ratio rises from 44.8% to 69.3%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€2.77M▼
2024 · €3.09M
Cash flow
€-8.16M▼
2024 · €2.15M
Solvency
30.7%▼
2024 · 55.2%
Current ratio
1.38▼
2024 · 2.16
Quick ratio
0.52▼
2024 · 1.24
Debt / equity
2.26▲
2024 · 0.81
ROE
-125.7%▼
2024 · 11.6%
ROA
-38.5%▼
2024 · 6.4%
Interest coverage
6.89▼
2024 · 9.53
Debt
€15.35M▲
2024 · €12.43M
Debt ≤ 1 year
€15.08M▲
2024 · €12.17M
Debt > 1 year
€71k▼
2024 · €174k
Income taxes
€553k▼
2024 · €677k
Staff costs
€6.13M▼
2024 · €6.36M
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€27.75M€22.14M▼
Fixed assets21/28€1.52M€1.38M▼
Intangible fixed assets21€1k-
Tangible fixed assets22/27€1.47M€1.33M▼
Plant, machinery and equipment23€1.25M€1.15M▼
Furniture and vehicles24€169k€127k▼
Other tangible fixed assets26€49k€49k=
Financial fixed assets28€52k€51k▼
Other financial fixed assets284/8€52k€51k▼
Amounts receivable and cash guarantees285/8€52k€51k▼
Current assets29/58€26.23M€20.76M▼
Amounts receivable after more than one year29€10.39M€2.28M▼
Other amounts receivable291€10.39M€2.28M▼
Stocks and contracts in progress3€11.15M€12.92M▲
Stocks30/36€11.15M€12.92M▲
Raw materials and consumables30/31€99k€65k▼
Goods purchased for resale34€11.05M€12.85M▲
Amounts receivable within one year40/41€4.12M€4.85M▲
Trade receivables40€4.03M€4.84M▲
Other amounts receivable41€84k€4k▼
Cash at bank and in hand54/58€292k€320k▲
Deferred charges and accrued income490/1€281k€403k▲
Equity and liabilities
Total equity and liabilities10/49€27.75M€22.14M▼
Equity10/15€15.32M€6.79M▼
Contributions10/11€150k€150k=
Capital10€150k€150k=
Issued capital100€150k€150k=
Reserves13€15.07M€6.64M▼
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Tax-exempt reserves132€4.06M€3.80M▼
Distributable reserves133€11.00M€2.82M▼
Profit (loss) carried forward14€95k-
Amounts payable17/49€12.43M€15.35M▲
Amounts payable after more than one year17€174k€71k▼
Financial debts170/4€174k€71k▼
Credit institutions173€174k€71k▼
Amounts payable within one year42/48€12.17M€15.08M▲
Current portion of amounts payable after more than one year42€101k€104k▲
Financial debts43€5.30M€6.00M▲
Credit institutions430/8€5.30M€6.00M▲
Trade debts44€2.57M€3.08M▲
Suppliers440/4€2.57M€3.08M▲
Taxes, remuneration and social security45€1.56M€1.50M▼
Taxes450/3€659k€670k▲
Remuneration and social security454/9€905k€827k▼
Other amounts payable47/48€2.63M€4.40M▲
Accrued charges and deferred income492/3€90k€207k▲
Income statement
Code20242025
Operating income70/76A€44.90M€43.92M▼
Turnover70€39.76M€38.80M▼
Change in stocks of work in progress, finished goods and contracts in progress71€34k€4k▼
Other operating income74€5.09M€5.10M▲
Non-recurring operating income76A€27k€15k▼
Operating charges60/66A€42.19M€41.53M▼
Goods for resale, raw materials and consumables60€27.86M€27.21M▼
Purchases600/8€27.94M€29.32M▲
Change in stocks: decrease (increase)609€-83k€-2.12M▼
Services and other goods61€7.61M€7.30M▼
Remuneration, social security and pensions62€6.36M€6.13M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€368k€371k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-114k€410k▲
Other operating charges640/8€107k€115k▲
Non-recurring operating charges66A-€247
Operating profit (loss)9901€2.72M€2.39M▼
Financial income75/76B€158k€68k▼
Recurring financial income75€158k€68k▼
Income from current assets751€3k€3k=
Other financial income752/9€155k€65k▼
Financial charges65/66B€416k€10.44M▲
Recurring financial charges65€416k€10.44M▲
Debt charges650€324k€401k▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€9.84M
Other financial charges652/9€93k€202k▲
Profit (loss) for the period before taxes9903€2.46M€-7.98M▼
Income taxes67/77€677k€553k▼
Taxes670/3€677k€553k▼
Profit (loss) for the period9904€1.78M€-8.53M▼
Transfer from tax-exempt reserves789€556k€680k▲
Transfer to tax-exempt reserves689€764k€421k▼
Profit (loss) for the period to be appropriated9905€1.58M€-8.27M▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.58M€-8.18M▼
Profit (loss) brought forward from the previous period14P€10k€95k▲
Transfer from equity791/2-€8.73M
From reserves792-€8.73M
Transfer to equity691/2€1.49M€547k▼
To other reserves6921€1.49M€547k▼
Social balance
Average headcount (FTE)908795.182.6▼
The notes to these accounts (69 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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-8.53M ▼578%
Net result drops to €-8.53M, the lowest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 4 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €3.17M ▲80%
Operating result €4.21M, net result €3.17M, both a record.
31-12
Financial
Equity above €10MEq €11.79M ▲36.8%
5 profitable years in a row build equity to €11.79M.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €5MEq €6.85M ▲38.2%
3 profitable years in a row build equity to €6.85M.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
14 acts for this company are 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, Boom · 1 establishment unit since 1996
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.
Scheldeweg 52850 BoomGround area
4.4 ha
Building footprint
2.1 ha
Parcel 11005A0286/00N000, Flanders. Linked by address, not a title deed.
1 establishment unit
ETHNICRAFT
since 19962.077.373.675
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11005A0286/00N000 | Flanders | 4.4 ha | 1 · 2.1 ha | - |
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
2022 to 2024 · 4 entries · 41,069 EUR awarded · 41,069 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 3,706 EUR | 3,706 EUR |
| 2023 | 2 | 32,663 EUR | 32,663 EUR |
| 2022 | 1 | 4,700 EUR | 4,700 EUR |
Schemes
Subsidies voor internationaal ondernemen
Vlaams opleidingsverlof (VOV)
Subsidies ecologisch en veilig transport (stopgezet)
Recognitions · licences · registrations
Legal Entity Identifier
549300VELVJE9DL8KW74
Similar companies · same sector, comparable size
LEGIO PURCHASING HOME
BE 0695.621.642
Gent · Eq €6.10M
Gescova
BE 0406.355.962
Wevelgem · Eq €4.96M
QUAX
BE 0439.813.341
Deinze · Eq €3.83M
ROYAL BOTANIA
BE 0447.099.427
Nijlen · Eq €15.09M
SENSA INTERIEUR
BE 0437.308.959
Riemst · Eq €3.01M
Of 332 companies in sector 46471 we hold annual accounts for 188. 36 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-06-1996
Fiscal year end31-12
Activities, NACEBEL
46471Wholesale trade
51471
47551Retail sale of household furniture
47552Retail sale of lighting equipment
47591Retail trade
47592Retail trade
47791Retail sale of antiques
52441
52442
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.