EXPRESS BREAD
ActiveSummary
The annual accounts of EXPRESS BREAD for financial year 2025 show a net loss of 76% of the equity at the start of that year. The 2025 annual accounts show equity of €5,140 and a net result of -€15,858. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 28% of 13,576 sector peers (NACE 46, financial year 2025). The company has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.0% (low).
Overview
- Equity
- €5,140
- Loss
- -€15,858
Why 54raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year1 change of registered office in 24 monthsLoss of €15,858 (financial year 2025)lowers riskLiquidity: current ratio 1.03, cash €31,534Size: total assets €44,535Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 24% on solvency, 69% on liquidity, 6% on profitability and 7% on growth.
The bankruptcy probability was computed on 19-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 3 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet -€15,858
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (10 days) Filed on 10 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00390387.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €9,149 after €2,232 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,221 companies that looked in July 2024 the way this one looks now, 3.8% went bankrupt within 24 months and 88.5% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,221 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,238 | €2,892 | €3,230 | €3,230 | €3,230 | €338 | €3,641 | €3,941 | ▲ 8.2% |
| Other operating charges640/8 | - | - | - | €478 | €551 | €839 | €307 | €9,626 | ▲ 3,039% |
| Gross operating margin9900 | €9,180 | -€2,364 | €5,733 | €20,435 | €12,669 | €22,785 | €6,180 | €4,418 | ▼ 28.5% |
| Operating profit (loss)9901 | €1,400 | -€5,881 | €984 | €16,727 | €8,888 | €21,608 | €2,232 | -€9,149 | - |
| Financial income75/76B | - | - | - | - | €1 | €9 | €255 | €126 | ▼ 50.6% |
| Recurring financial income75 | - | - | - | - | €1 | €9 | €255 | €126 | ▼ 50.6% |
| Non-recurring financial income76B | - | - | - | - | €1 | €9 | - | - | - |
| Financial charges65/66B | - | - | - | €149 | €128 | €154 | €816 | €997 | ▲ 22.2% |
| Recurring financial charges65 | €66 | €37 | €35 | €149 | €128 | €154 | €816 | €997 | ▲ 22.2% |
| Non-recurring financial charges66B | - | - | - | €149 | €128 | €154 | - | - | - |
| Profit (loss) for the period before taxes9903 | €1,334 | -€5,918 | €949 | €16,578 | €8,761 | €21,463 | €1,672 | -€10,020 | - |
| Income taxes67/77 | - | - | - | - | - | €117 | €1,363 | €5,838 | ▲ 328% |
| Profit (loss) for the period9904 | €1,334 | -€5,918 | €949 | €16,578 | €8,761 | €21,346 | €309 | -€15,858 | - |
| Profit (loss) for the period to be appropriated9905 | €1,334 | -€5,918 | €949 | €16,578 | €8,761 | €21,346 | €309 | -€15,858 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €28,576 | €41,062 | €41,449 | €55,010 | €47,288 | €53,533 | €68,228 | €44,535 | ▼ 34.7% |
| Fixed assets21/28 | - | €8,676 | €8,826 | €5,596 | €2,366 | €2,078 | €16,404 | €12,462 | ▼ 24.0% |
| Tangible fixed assets22/27 | - | €8,676 | €8,826 | €5,596 | €2,366 | €2,028 | €16,404 | €12,462 | ▼ 24.0% |
| Furniture and vehicles24 | - | - | - | €5,596 | €2,366 | €2,028 | €16,404 | €12,462 | ▼ 24.0% |
| Financial fixed assets28 | - | - | - | - | - | €50 | - | - | - |
| Current assets29/58 | €28,576 | €32,386 | €32,623 | €49,414 | €44,922 | €51,455 | €51,825 | €32,073 | ▼ 38.1% |
| Amounts receivable within one year40/41 | €26,209 | €31,527 | €31,579 | €36,255 | €32,964 | €1,256 | €2,153 | €539 | ▼ 75.0% |
| Trade receivables40 | - | - | - | €5,783 | €254 | €1,253 | €1,670 | €37 | ▼ 97.8% |
| Other amounts receivable41 | - | - | - | €30,472 | €32,710 | €3 | €483 | €502 | ▲ 3.9% |
| Cash at bank and in hand54/58 | €2,367 | €859 | €1,044 | €13,159 | €11,958 | €50,199 | €49,672 | €31,534 | ▼ 36.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €28,576 | €41,062 | €41,449 | €55,010 | €47,288 | €53,533 | €68,228 | €44,535 | ▼ 34.7% |
| Equity10/15 | -€21,027 | -€26,945 | -€25,996 | -€9,418 | -€657 | €20,689 | €20,997 | €5,140 | ▼ 75.5% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,557 | €1,557 | €1,557 | €1,557 | €1,557 | €1,557 | €1,557 | €1,557 | = |
| Non-distributable reserves130/1 | - | - | - | €1,557 | €1,557 | €1,557 | €1,557 | €1,557 | = |
| Reserves not available under the articles1311 | - | - | - | €1,557 | €1,557 | €1,557 | €1,557 | €1,557 | = |
| Profit (loss) carried forward14 | -€41,176 | -€47,094 | -€46,145 | -€29,567 | -€20,806 | €540 | €849 | -€15,009 | - |
| Amounts payable17/49 | €49,603 | €68,007 | €67,445 | €64,428 | €47,945 | €32,844 | €47,231 | €39,396 | ▼ 16.6% |
| Amounts payable after more than one year17 | €29,780 | - | - | - | - | - | €11,464 | €8,273 | ▼ 27.8% |
| Financial debts170/4 | - | - | - | - | - | - | €11,464 | €8,273 | ▼ 27.8% |
| Amounts payable within one year42/48 | €19,823 | €68,007 | €67,445 | €64,428 | €47,945 | €32,844 | €35,767 | €31,123 | ▼ 13.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €2,996 | €3,191 | ▲ 6.5% |
| Trade debts44 | €19,823 | €28,185 | €4,930 | €6,294 | €1,724 | €5,382 | €6,535 | €3,065 | ▼ 53.1% |
| Suppliers440/4 | - | - | - | €6,294 | €1,724 | €5,382 | €6,535 | €3,065 | ▼ 53.1% |
| Taxes, remuneration and social security45 | - | - | - | - | €43 | €58 | €1,292 | €1,042 | ▼ 19.4% |
| Taxes450/3 | - | - | - | - | €43 | €58 | €1,292 | €1,042 | ▼ 19.4% |
| Other amounts payable47/48 | - | - | - | €58,134 | €46,178 | €27,404 | €24,945 | €23,826 | ▼ 4.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,334 | -€5,918 | €949 | €16,578 | €8,761 | €21,346 | €309 | -€15,858 | - |
| + Depreciation and write-downs630 | €7,238 | €2,892 | €3,230 | €3,230 | €3,230 | €338 | €3,641 | €3,941 | ▲ 8.2% |
| Operating cash flow (approximation) | €8,572 | -€3,026 | €4,179 | €19,808 | €11,991 | €21,684 | €3,950 | -€11,916 | - |
| Investment in fixed assets (approximation) | - | - | -€3,380 | €0 | €0 | -€50 | -€17,967 | €0 | - |
| Change in cash | - | -€1,508 | €185 | €12,115 | -€1,201 | €38,241 | -€527 | -€18,138 | ▼ 3,339% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 10-08-2026 | 2026-00390387 |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00515530 |
| 31-12-2023 | micro format | 25-06-2024 | 2024-00157963 |
| 31-12-2022 | micro format | 13-06-2023 | 2023-00121581 |
| 31-12-2021 | micro format | 14-06-2022 | 2022-20060955 |
| 31-12-2020 | micro format | 27-07-2021 | 2021-40600488 |
| 31-12-2019 | micro format | 27-10-2020 | 2020-63500531 |
| 31-12-2018 | micro format | 22-11-2019 | 2019-74100486 |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61200257 |
| 31-12-2016 | full format | 29-12-2017 | 2017-73700489 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
02-06
Gazette deed
Registered office · Amendment of the articles · Legal-form change · MiscellaneousRegistered-office move · Legal form clause · Capital conversion12 facts ▸
- General meeting, 28-05-2025
- Other provision, “toute référence à une valeur nominale attachée aux actions, suppression référence valeur nominale actions” (deed in French)
- Registered-office move, 5340 Faulx Les Tombes,Chaussée de Gramptinne 59/A
- Legal form clause, “conservation, adaptation statuts au Code des Sociétés et des Associations” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital conversion, “compte de capitaux propres “apports non appelés”” (deed in French)
- Reserve release, “suppression, fonds disponibles pour distribution” (deed in French)
- Amendment of the articles
- Board composition, VAN DE VELDE Viviane (director)
- Capital
- Power of attorney
- Other provision, “confirmation gérant actuel en qualité d'administrateur de la société” (deed in French)
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 18 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92042E0183/00Y002 | Wallonia | 797 m² | - | - |
| 92042E0183/00Z002 | Wallonia | 638 m² | 1 · 131 m² | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'importation,l'exportation,la distribution et le commerce en gros,demi gros ou de détails,y compris la vente aux particuliers,de produits…” (deed in French)
2 activities (deed in French)
- L'importation,l'exportation,la distribution et le commerce en gros,demi gros ou de détails,y compris la vente aux particuliers,de produits alimentaires et de tous produits ou marchandises se rapportant directement ou indirectement au secteur de l'Hôtellerie,de la restauration et des cafés.
- Toute opération commerciale,mobilière,immobilière,industrielle ou financière se rapportant directement ou indirectement,en tout ou en partie,à l'une ou l'autre branche de son objet ou de nature à en développer ou en faciliter la réalisation,tant en Belgique qu'à l'étranger.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- EXPRESS BREAD
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région Wallonne, même sans changement régime linguistique,modifie statuts,constatée par acte authentique” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “4°/ d’adapter les statuts aux dispositions du Code des Sociétés et des Associations, de conserver la forme légale de la société à…”“Article 16 .- Représentation - Actes et actions judiciaires. La société est représentée dans les actes, y compris ceux où interviennent un…”
Full text
Article 16 .- Représentation - Actes et actions judiciaires. La société est représentée dans les actes, y compris ceux où interviennent un fonctionnaire public ou un officier ministériel et en justice par un administrateur agissant seul. Elle est en outre valablement engagée par des mandataires spéciaux dans les limites de leurs mandats.
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation, un ou plusieurs” (deed in French)“Frais généraux, administrateur” (deed in French)“Vacance, première assemblée générale qui suit” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Autorisation, organe d'administration” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of May at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “2 mois maximum, dissolution éventuelle ou autres mesures annoncées à l'ordre du jour pour continuité” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment, administrateurs en fonction agissant en qualité de comité de liquidation” (deed in French)