EXPRESS CAVELL
ActiveSummary
EXPRESS CAVELL has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,293 and a net result of -€57,423. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 21% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-6
Solvency36▼-11
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.9 against 0.92 in 2024; short-term debt: 86.9% and cash: 9.4% of total assets), and 88.6% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
11.4%
Return on assets
-10.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€57,423
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 10519 sector peers (2025).
NBB · sector comparisonPosition among 10519 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
20 d late
2023
29 d late
2022
28 d late
2021
43 d late
2020
20 d late
2019
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 28 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€57,423▼ 27.9%
2024 · -€44,907
Working capital
-€48,990▼ 49.4%
2024 · -€32,789
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€85,477▼ 77.4%€42,728▼ 50.0%€64,672▲ 51.4%-€32,148-€40,043▼ 24.6%
Net result€80,858within the sector's middle half▼ 78.2%€34,622within the sector's middle half▼ 57.2%€50,238within the sector's middle half▲ 45.1%-€44,907below the sector's middle half-€57,423below the sector's middle half▼ 27.9%
Equity€188,764within the sector's middle half▲ 0.5%€161,386within the sector's middle half▼ 14.5%€166,623within the sector's middle half▲ 3.2%€121,716within the sector's middle half▼ 27.0%€64,293within the sector's middle half▼ 47.2%
Total assets€941,576within the sector's middle half▲ 16.6%€579,423within the sector's middle half▼ 38.5%€737,475within the sector's middle half▲ 27.3%€562,850within the sector's middle half▼ 23.7%€564,298within the sector's middle half▲ 0.3%
Debt€752,812▲ 21.6%€418,038▼ 44.5%€570,851▲ 36.6%€441,134▼ 22.7%€500,004▲ 13.3%
Working capital€92,567within the sector's middle half▲ 20.4%€65,467within the sector's middle half▼ 29.3%€61,435within the sector's middle half▼ 6.2%-€32,789below the sector's middle half-€48,990below the sector's middle half▼ 49.4%
Solvency20.0%within the sector's middle half▼ 3.2pp27.9%within the sector's middle half▲ 7.8pp22.6%within the sector's middle half▼ 5.3pp21.6%within the sector's middle half▼ 1.0pp11.4%below the sector's middle half▼ 10.2pp
Current ratio1.12within the sector's middle half=1.16within the sector's middle half▲ 0.041.11within the sector's middle half▼ 0.050.92below the sector's middle half▼ 0.190.90below the sector's middle half▼ 0.02
Return on assets (ROA)8.6%within the sector's middle half▼ 37.5pp6.0%within the sector's middle half▼ 2.6pp6.8%within the sector's middle half▲ 0.8pp-8.0%below the sector's middle half▼ 14.8pp-10.2%below the sector's middle half▼ 2.2pp
Staff (FTE)4.6within the sector's middle half▼ 14.8%4.3within the sector's middle half▼ 6.5%4within the sector's middle half▼ 7.0%4within the sector's middle half=6.2within the sector's middle half▲ 55.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €40,043 in 2025 against €32,148 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €564,298
Fixed assets
€122,889 ▼ 27.5%
Current assets
€441,408 ▲ 12.2%
Equity and liabilities €564,298
Equity
€64,293 ▼ 47.2%
Debt
€500,004 ▲ 13.3%
Debt's share of the balance-sheet total rises from 78.4% to 88.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€13,348▼
2024 · €17,004
Cash flow
-€4,031▼
2024 · €4,244
Quick ratio
0.59▼
2024 · 0.60
Debt to equity
7.78▲
2024 · 3.62
ROE
-89.3%▼
2024 · -36.9%
Interest coverage
0.76▼
2024 · 1.11
Debt ≤ 1 year
€490,399▲
2024 · €426,029
Income taxes
€69▼
2024 · €517
Staff costs
€181,441▲
2024 · €112,289
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,295 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 89% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.6%
went bankrupt
5.9%
stopped otherwise
89%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,295 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €123,866 | €119,399 | €116,495 | €112,289 | €181,441 | ▲ 61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,771 | €25,280 | €25,750 | €49,152 | €53,391 | ▲ 8.6% |
| Other operating charges640/8 | €348 | €1,218 | €2,360 | €2,262 | €4,264 | ▲ 88.5% |
| Gross operating margin9900 | €235,462 | €188,625 | €209,277 | €131,556 | €199,053 | ▲ 51.3% |
| Operating profit (loss)9901 | €85,477 | €42,728 | €64,672 | -€32,148 | -€40,043 | ▼ 24.6% |
| Financial income75/76B | €11,605 | €7,528 | €3,658 | €3,011 | €352 | ▼ 88.3% |
| Recurring financial income75 | €11,605 | €7,528 | €3,658 | €3,011 | €352 | ▼ 88.3% |
| Financial charges65/66B | €13,321 | €14,682 | €13,093 | €15,253 | €17,663 | ▲ 15.8% |
| Recurring financial charges65 | €13,321 | €14,682 | €13,093 | €15,253 | €17,663 | ▲ 15.8% |
| Profit (loss) for the period before taxes9903 | €83,761 | €35,573 | €55,238 | -€44,390 | -€57,354 | ▼ 29.2% |
| Income taxes67/77 | €2,903 | €951 | €5,000 | €517 | €69 | ▼ 86.7% |
| Profit (loss) for the period9904 | €80,858 | €34,622 | €50,238 | -€44,907 | -€57,423 | ▼ 27.9% |
| Profit (loss) for the period to be appropriated9905 | €80,858 | €34,622 | €50,238 | -€44,907 | -€57,423 | ▼ 27.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €941,576 | €579,423 | €737,475 | €562,850 | €564,298 | ▲ 0.3% |
| Fixed assets21/28 | €104,611 | €110,371 | €123,571 | €169,610 | €122,889 | ▼ 27.5% |
| Tangible fixed assets22/27 | €104,611 | €110,371 | €123,571 | €169,610 | €122,465 | ▼ 27.8% |
| Plant, machinery and equipment23 | €100,528 | €95,591 | €74,356 | €120,079 | €85,333 | ▼ 28.9% |
| Furniture and vehicles24 | €4,083 | €14,779 | €49,215 | €49,531 | €37,131 | ▼ 25.0% |
| Financial fixed assets28 | - | - | - | - | €425 | - |
| Current assets29/58 | €836,965 | €469,053 | €613,904 | €393,240 | €441,408 | ▲ 12.2% |
| Stocks and contracts in progress3 | €111,925 | €141,098 | €139,080 | €139,073 | €154,095 | ▲ 10.8% |
| Stocks30/36 | €111,925 | €141,098 | €139,080 | €139,073 | €154,095 | ▲ 10.8% |
| Amounts receivable within one year40/41 | €540,231 | €174,203 | €172,543 | €109,678 | €191,120 | ▲ 74.3% |
| Trade receivables40 | €136,744 | €26,035 | €17,129 | €1,792 | €145,087 | ▲ 7,996% |
| Other amounts receivable41 | €403,487 | €148,168 | €155,414 | €107,886 | €46,033 | ▼ 57.3% |
| Cash at bank and in hand54/58 | €139,398 | €107,194 | €256,783 | €97,377 | €53,166 | ▼ 45.4% |
| Deferred charges and accrued income490/1 | €45,411 | €46,558 | €45,497 | €47,112 | €43,028 | ▼ 8.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €941,576 | €579,423 | €737,475 | €562,850 | €564,298 | ▲ 0.3% |
| Equity10/15 | €188,764 | €161,386 | €166,623 | €121,716 | €64,293 | ▼ 47.2% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €95,097 | €65,097 | €65,097 | €65,097 | €5,097 | ▼ 92.2% |
| Non-distributable reserves130/1 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves not available under the articles1311 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Tax-exempt reserves132 | €97 | €97 | €97 | €97 | €97 | = |
| Distributable reserves133 | €90,000 | €60,000 | €60,000 | €60,000 | - | - |
| Profit (loss) carried forward14 | €43,667 | €46,289 | €51,527 | €6,619 | €9,197 | ▲ 38.9% |
| Amounts payable17/49 | €752,812 | €418,038 | €570,851 | €441,134 | €500,004 | ▲ 13.3% |
| Amounts payable within one year42/48 | €744,398 | €403,585 | €552,468 | €426,029 | €490,399 | ▲ 15.1% |
| Trade debts44 | €626,438 | €314,092 | €473,274 | €400,817 | €296,660 | ▼ 26.0% |
| Suppliers440/4 | €626,438 | €314,092 | €473,274 | €400,817 | €296,660 | ▼ 26.0% |
| Advances received on contracts in progress46 | - | - | - | - | €586 | - |
| Taxes, remuneration and social security45 | €28,900 | €25,863 | €31,422 | €25,212 | €46,017 | ▲ 82.5% |
| Taxes450/3 | €2,903 | €2,318 | €6,500 | - | - | - |
| Remuneration and social security454/9 | €25,997 | €23,545 | €24,922 | €25,212 | €46,017 | ▲ 82.5% |
| Other amounts payable47/48 | €89,060 | €63,630 | €47,772 | - | €147,136 | - |
| Accrued charges and deferred income492/3 | €8,414 | €14,453 | €18,383 | €15,105 | €9,605 | ▼ 36.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €80,858 | €34,622 | €50,238 | -€44,907 | -€57,423 | ▼ 27.9% |
| + Depreciation and write-downs630 | €25,771 | €25,280 | €25,750 | €49,152 | €53,391 | ▲ 8.6% |
| Operating cash flow (approximation) | €106,629 | €59,902 | €75,988 | €4,244 | -€4,031 | ▼ 195% |
| Investment in fixed assets (approximation) | - | -€31,040 | -€38,950 | -€95,191 | -€6,671 | ▲ 93.0% |
| Change in cash | - | -€32,204 | €149,589 | -€159,406 | -€44,212 | ▲ 72.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet -€57,423
Net result drops to -€57,423, the lowest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 20 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
12-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 43 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 20 days late
2020
31-12
Financial
Highest result since 2018net €371,689 ▲664%
Operating result €378,136, net result €371,689, both a record.
31-12
Financial
Equity above €150,000Eq €187,906 ▲28.5%
2 profitable years in a row build equity to €187,906.
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 25 days late
2019
31-12
Financial
Back to profitnet €48,660
Net result €48,660 after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 26 days late
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Ukkel · 1 establishment unit since 2008
Ground area
276 m²
Building footprint
275 m²
Volume, LiDAR
1,657 m³
Parcel 21612C0004/00X045, Brussels · tallest building 16.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EXPRESS CAVELL
since 20082.171.816.043
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0004/00X045 | Brussels | 275 m² | 1 · 275 m² | 16.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteUkkel2.171.816.043
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,853. 4,663 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded11-04-2008
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0897172103
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.