EXPRESS COURCELLES
ActiveSummary
The annual accounts of EXPRESS COURCELLES for fiscal year 2025 show a net loss of 87% of the equity at the start of that year. The 2025 annual accounts show equity of €11,231 and a net result of -€77,829. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 4235 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability5▼-74
Solvency28▼-17
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.69 against 0.91 in 2024; short-term debt: 96.1% and cash: 7.6% of total assets), and 96.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+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 →
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
3.1%
Return on assets
-21.5%
Age of the figures
20 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 4235 sector peers (2025).
NBB · sector comparisonPosition among 4235 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 30-09-2025, 30 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 · 6 filingsDeviation from the deadline
2026
not confirmed
2025
30 d late
2024
30 d late
2023
35 d late
2022
236 d late
2021
8 d late
2020
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 62 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 (1)
History
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Financials · fiscal year 2025, full schema
Turnover
€1.8m
EBIT margin
-3.5%
Net result
-€77,829
2024 · €37,492
Working capital
-€107,397▼ 254%
2024 · -€30,326
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
Turnover€1.8m
Operating result€67,886€27,279▼ 59.8%-€23,687€47,513-€62,636
Net result€54,079within the sector's middle half€17,654within the sector's middle half▼ 67.4%-€37,844below the sector's middle half€37,492within the sector's middle half-€77,829below the sector's middle half
EBIT margin-3.5%
Equity€71,758within the sector's middle half▲ 306%€89,412within the sector's middle half▲ 24.6%€51,567below the sector's middle half▼ 42.3%€89,059within the sector's middle half▲ 72.7%€11,231below the sector's middle half▼ 87.4%
Total assets€433,509within the sector's middle half▲ 1.2%€429,469within the sector's middle half▼ 0.9%€434,402below the sector's middle half▲ 1.1%€455,914below the sector's middle half▲ 5.0%€361,619below the sector's middle half▼ 20.7%
Debt€361,751▼ 12.0%€340,057▼ 6.0%€382,835▲ 12.6%€366,855▼ 4.2%€350,388▼ 4.5%
Working capital-€3,997below the sector's middle half▲ 93.9%-€12,862below the sector's middle half▼ 222%-€49,905below the sector's middle half▼ 288%-€30,326below the sector's middle half▲ 39.2%-€107,397below the sector's middle half▼ 254%
Solvency16.6%within the sector's middle half▲ 12.4pp20.8%within the sector's middle half▲ 4.3pp11.9%below the sector's middle half▼ 8.9pp19.5%within the sector's middle half▲ 7.7pp3.1%below the sector's middle half▼ 16.4pp
Current ratio0.98below the sector's middle half▲ 0.250.95below the sector's middle half▼ 0.040.84below the sector's middle half▼ 0.110.91below the sector's middle half▲ 0.070.69below the sector's middle half▼ 0.22
Return on assets (ROA)12.5%above the sector's middle half▲ 20.0pp4.1%within the sector's middle half▼ 8.4pp-8.7%below the sector's middle half▼ 12.8pp8.2%within the sector's middle half▲ 16.9pp-21.5%below the sector's middle half▼ 29.7pp
Staff (FTE)8.4within the sector's middle half▲ 12.0%10.1within the sector's middle half▲ 20.2%10.8within the sector's middle half▲ 6.9%12.6within the sector's middle half▲ 16.7%0.8below the sector's middle half▼ 93.7%
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 turns negative in 2025: a loss of €62,636 after €47,513 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €361,619
Fixed assets
€121,354 ▼ 20.8%
Current assets
€240,265 ▼ 20.6%
Equity and liabilities €361,619
Equity
€11,231 ▼ 87.4%
Debt
€350,388 ▼ 4.5%
Debt's share of the balance-sheet total rises from 80.5% to 96.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€25,958▼
2024 · €83,044
Cash flow
-€41,150▼
2024 · €73,023
Quick ratio
0.39▼
2024 · 0.56
Debt to equity
31.20▲
2024 · 4.12
ROE
-693.0%▼
2024 · 42.1%
Interest coverage
-1.64▼
2024 · 7.58
Debt ≤ 1 year
€347,662▲
2024 · €332,996
Staff costs
€182,300▲
2024 · €177,858
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 647 companies that looked in July 2024 the way this one looks now, 6.6% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
6.6%
went bankrupt
5.6%
stopped otherwise
86%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 647 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €1.8m | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €1.7m | - |
| Remuneration, social security and pensions62 | - | €152,065 | €179,456 | €177,858 | €182,300 | ▲ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,427 | €30,459 | €34,675 | €35,531 | €36,679 | ▲ 3.2% |
| Other operating charges640/8 | - | €9,605 | €13,308 | €10,121 | €9,459 | ▼ 6.5% |
| Non-recurring operating charges66A | - | - | €176 | €512 | - | - |
| Gross operating margin9900 | €228,941 | €219,408 | €203,928 | €271,535 | €165,801 | ▼ 38.9% |
| Operating profit (loss)9901 | €67,886 | €27,279 | -€23,687 | €47,513 | -€62,636 | ▼ 232% |
| Financial income75/76B | - | €2,045 | €1,064 | €938 | €679 | ▼ 27.6% |
| Recurring financial income75 | €1,563 | €2,045 | €1,064 | €938 | €679 | ▼ 27.6% |
| Financial charges65/66B | - | €7,787 | €15,221 | €10,959 | €15,872 | ▲ 44.8% |
| Recurring financial charges65 | €7,465 | €7,787 | €15,221 | €10,959 | €15,872 | ▲ 44.8% |
| Profit (loss) for the period before taxes9903 | €61,984 | €21,537 | -€37,844 | €37,492 | -€77,829 | ▼ 308% |
| Income taxes67/77 | €7,905 | €3,883 | - | - | - | - |
| Profit (loss) for the period9904 | €54,079 | €17,654 | -€37,844 | €37,492 | -€77,829 | ▼ 308% |
| Profit (loss) for the period to be appropriated9905 | €54,079 | €17,654 | -€37,844 | €37,492 | -€77,829 | ▼ 308% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €433,509 | €429,469 | €434,402 | €455,914 | €361,619 | ▼ 20.7% |
| Fixed assets21/28 | €210,146 | €197,934 | €175,013 | €153,244 | €121,354 | ▼ 20.8% |
| Intangible fixed assets21 | €190,666 | €164,667 | €138,667 | €112,667 | €86,667 | ▼ 23.1% |
| Tangible fixed assets22/27 | €19,480 | €33,267 | €36,346 | €40,577 | €34,688 | ▼ 14.5% |
| Plant, machinery and equipment23 | - | €33,267 | €36,346 | €40,577 | €34,688 | ▼ 14.5% |
| Current assets29/58 | €223,363 | €231,535 | €259,389 | €302,670 | €240,265 | ▼ 20.6% |
| Stocks and contracts in progress3 | €93,761 | €97,767 | €82,108 | €117,579 | €103,177 | ▼ 12.2% |
| Stocks30/36 | - | €97,767 | €82,108 | €117,579 | €103,177 | ▼ 12.2% |
| Amounts receivable within one year40/41 | €58,137 | €64,116 | €91,027 | €97,772 | €96,617 | ▼ 1.2% |
| Trade receivables40 | - | €7,963 | €24,794 | €26,055 | €27,419 | ▲ 5.2% |
| Other amounts receivable41 | - | €56,153 | €66,233 | €71,717 | €69,198 | ▼ 3.5% |
| Cash at bank and in hand54/58 | €48,204 | €46,120 | €74,260 | €80,369 | €27,465 | ▼ 65.8% |
| Deferred charges and accrued income490/1 | - | €23,532 | €11,994 | €6,950 | €13,006 | ▲ 87.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €433,509 | €429,469 | €434,402 | €455,914 | €361,619 | ▼ 20.7% |
| Equity10/15 | €71,758 | €89,412 | €51,567 | €89,059 | €11,231 | ▼ 87.4% |
| Contributions10/11 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Capital10 | - | €50,000 | €50,000 | €50,000 | - | - |
| Issued capital100 | - | €50,000 | €50,000 | €50,000 | - | - |
| Outside capital11 | - | - | - | - | €50,000 | - |
| Other1109/19 | - | - | - | - | €50,000 | - |
| Reserves13 | €21,000 | €38,654 | €38,654 | €38,654 | €883 | ▼ 97.7% |
| Non-distributable reserves130/1 | - | €883 | €883 | €883 | €883 | = |
| Legal reserve130 | - | €883 | €883 | €883 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €883 | - |
| Distributable reserves133 | - | €37,771 | €37,771 | €37,771 | - | - |
| Profit (loss) carried forward14 | €758 | €758 | -€37,087 | €405 | -€39,652 | ▼ 9,891% |
| Amounts payable17/49 | €361,751 | €340,057 | €382,835 | €366,855 | €350,388 | ▼ 4.5% |
| Amounts payable after more than one year17 | €126,417 | €84,345 | €51,408 | €20,672 | - | - |
| Financial debts170/4 | - | €84,345 | €51,408 | €20,672 | - | - |
| Amounts payable within one year42/48 | €227,360 | €244,397 | €309,294 | €332,996 | €347,662 | ▲ 4.4% |
| Current portion of amounts payable after more than one year42 | - | €35,085 | €36,400 | €46,737 | €40,589 | ▼ 13.2% |
| Trade debts44 | €165,045 | €170,651 | €241,652 | €259,882 | €276,986 | ▲ 6.6% |
| Suppliers440/4 | - | €170,651 | €241,652 | €259,882 | €276,986 | ▲ 6.6% |
| Taxes, remuneration and social security45 | - | €38,661 | €31,242 | €26,377 | €30,002 | ▲ 13.7% |
| Taxes450/3 | - | €8,747 | €3,883 | - | - | - |
| Remuneration and social security454/9 | - | €29,914 | €27,359 | €26,377 | €30,002 | ▲ 13.7% |
| Other amounts payable47/48 | - | - | - | - | €84 | - |
| Accrued charges and deferred income492/3 | - | €11,315 | €22,133 | €13,187 | €2,727 | ▼ 79.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,079 | €17,654 | -€37,844 | €37,492 | -€77,829 | ▼ 308% |
| + Depreciation and write-downs630 | €29,427 | €30,459 | €34,675 | €35,531 | €36,679 | ▲ 3.2% |
| Operating cash flow (approximation) | €83,506 | €48,113 | -€3,169 | €73,023 | -€41,150 | ▼ 156% |
| Investment in fixed assets (approximation) | - | -€18,247 | -€11,754 | -€13,762 | -€4,789 | ▲ 65.2% |
| Change in cash | - | -€2,084 | €28,140 | €6,109 | -€52,904 | ▼ 966% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 30 days late
31-01
Financial
Weakest financial yearnet -€77,829
Net result drops to -€77,829, the lowest in the series.
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 30 days late
31-01
Financial
Back to profitnet €37,492
Net result €37,492 after one loss-making year.
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 35 days late
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 236 days late
2021
08-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 8 days late
31-01
Financial
Back to profitnet €54,079
Net result €54,079 after one loss-making year.
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Courcelles · 1 establishment unit since 2018
Ground area
987 m²
Building footprint
172 m²
Volume, LiDAR
725 m³
Parcel 52322B0838/00F009, Wallonia · tallest building 7.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
EXPRESS COURCELLES
since 20182.277.831.994
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52322B0838/00F009 | Wallonia | 987 m² | 1 · 172 m² | 7.0 m · 1 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.
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,853. 3,593 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)
Founded16-07-2018
Fiscal year end31-01
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Contact
E-mail
EXPRESS00812@GMAIL.COMCourcelles
Phone
071454037Courcelles
Fax
071454038Courcelles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0699934677
Also
9925:BE0699934677
Registered
18-09-2025
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.