Losses
-€17.0m in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Firma Cras
Lifetime
20 annual accounts with figures on one time axis, 49 filings since 1977peak €27.9m (2006)
-not published
lowest -€10.0m (2025)
-€10.0m▼ €7.4m
peak €64.6m (2022)
€56.0m▼ 3.0%
€74.2m▼ 16.2%
peak 46.8 FTE (2024)
35.2 FTE▼ 24.8%
Board4 names since 2019
1 directorF. Cras Consult BV
Documentsfilings and deeds
31-08-202631 days late
2025financial year
Loss of €10.0mStaff from 46.8 FTE to 35.2 FTEAppointment: GEMINI CONSULTING BV (day-to-day manager) 04-11Reappointment: BV HLB DODEMONT-VAN IMPE & C° (statutory auditor) 14-10Capital increase · Amendment of the articles 16-07Resignation: ACSE BV (day-to-day manager) 01-04
Key points
from the 2025 annual accountsStaff
31 employees on 31-12-2025
In 2025, 1 person joined and 17 left. On top of that, 1 agency workers worked there on average.
Payment terms
147 days to suppliers
Firma Cras pays its suppliers 73 days later than in 2024.
Filings
49 annual accounts 79 filings since 1977
Four of the last ten came late. The 2020 accounts came latest: 89 days after the end of the period.
Group
16 companies controlled
Heads a group.
Position in the sector
-€10.0m
Lower net result than 95% of companies in wholesale trade. Sector median €110,308 · 6,122 companies.
Standalone figures, without subsidiaries
Group, consolidated 2025: turnover €140.1m, result -€16.2m
Checked score
64
Healthy
Financially stronger than 36% of small companies in wholesale trade (NACE 46)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 4,375 companies (NACE 46, small).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▼ -0.4 percentage points vs 07-2025lowest value
09-2025: 0.4%● unchanged vs 08-2025lowest value
10-2025: 0.4%● unchanged vs 09-2025lowest value
11-2025: 0.4%● unchanged vs 10-2025lowest value
12-2025: 0.8%▲ +0.4 percentage points vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 1.0%▲ +0.2 percentage points vs 04-2026
06-2026: 1.0%● unchanged vs 05-2026
07-2026: 1.0%● unchanged vs 06-2026
08-2026: 1.3%▲ +0.3 percentage points vs 07-2026highest value
09-2026: 1.3%● unchanged vs 08-2026
10-2026: 1.3%● unchanged vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.07, cash €3.6m
Loss of €10.0m, the second in a row (financial year 2025)
Last filed accounts filed 31 days late; 2 of the last 3 accounts late
1 change of registered office in 24 months
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 46, small). It does better than 51% of them on solvency, 54% on liquidity, 13% on profitability and 25% on growth.
The bankruptcy probability was computed on 06-11-2026 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 31-12-2025.
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, 8,617 companies had the same profile as Firma Cras has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Firma Cras itself is higher: 1.3% within 12 months. It rests on far more data about Firma Cras 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 8,617 companies, not a prediction for Firma Cras. 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
Credit of up to €3,550,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.07 (1.19 in 2024), below the usual 1.5. Short-term debt is 22.6% and cash 2.7% of total assets. 57% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises risk
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 -€10.0m
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 5 filingsDeviation from the deadline
2025
31 days late
2024
9 days early
2023
61 days late
2022
12 days early
2021
61 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 26 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 5 accounts filed within 40 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
GC
GEMINI CONSULTING BV
Daily manager, Yannick Peeters
FC
F. Cras Consult BV
Director, since 20-12-2019
Shares in 12 companies, including BELGIAN TIMBER and BREMS-DOORS
Board & ownershipRecent changes
Appointment: GEMINI CONSULTING BV (day-to-day manager)
Permanent representative: Yannick Peeters · Gazette deed
Reappointment: BV HLB DODEMONT-VAN IMPE & C° (statutory auditor)
Permanent representative: Guy COX · General meeting of 01-09-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0405398137
Capital increase · Amendment of the articles
Capital from €7,800,000 to €8,246,000 · Capital from €8,246,000 to €12,846,000 · Capital from €12,846,000 to €13,246,000, 1,680 new shares · General meeting of 24-06-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Firma Cras Waregem | - | - | 43.0% | 35.2 |
| Simon en Zonen Geraardsbergen | €78.0m | 9.8% | 96.4% | 29.4 |
| LEMAHIEU GROUP Ghent | €101.6m | 0.9% | 31.8% | 69.9 |
| BOUTTENS Kuurne | €75.6m | 12.4% | 83.4% | 23.1 |
| VANROBAEYS Izegem | €67.9m | 4.2% | 60.3% | 79.6 |
| Callens Menen | €32.3m | 3.2% | 40.6% | 34.7 |
| VC WOOD Zottegem Zottegem | €26.3m | 8.0% | 64.1% | 31.6 |
These companies have the same main activity as Firma Cras: wholesale of timber (NACE 46832). They are comparable in size and age: total assets between €34m and €79m, founded between 1941 and 1983.
Official details
Source: KBO- Status
- Active since 14-12-1940Normal situation
- Activity
- Wholesale of timberNACE 46832and 1 other
- Joint committees
- 125.03Timber trade
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.004.278.9308790 Waregem, since 01-12-1940
- 2.307.180.6328501 Kortrijk, since 01-01-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 07-10-2025
Annual accounts 2025
- €130.2m▼ 11.0%
- Employeeson 31-12-2025
- 31▼ 34.0%
- Filing
- Filed on 31-08-2026
Companies linked to Firma Cras
Subsidiaries and holdings
- BREMS-SERVICES100%
- CIE DUBOIS - STOCKMANS100%
- CRAS100%
- DECOR ET JARDIN SA100%
- Hagima100%
- JB TRANSP100%
- Jules Renard100%
- Somex100%
Insights on Firma Cras
Firma Cras has existed since 1940. Turnover fell from €27.9m in 2006 to €34,915 in 2007 and staff from 34.4 to 21 full-time equivalents.
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 Firma Cras
- What is the company number of Firma Cras?
- The company number of Firma Cras is 0405.398.137. The VAT number is the same number with BE in front: BE 0405.398.137.
- Where is Firma Cras based?
- The registered office is at Industrielaan 5, 8790 Waregem.Company details
- What does Firma Cras do?
- According to the KBO register, the main activity is wholesale of timber (NACE 46832).
- What is the legal form of Firma Cras?
- Firma Cras is a public limited company (NV).
- When was Firma Cras founded?
- Firma Cras was founded on 14-12-1940.
- Is Firma Cras still active?
- Yes, Firma Cras is an active enterprise in the KBO register.
- How many employees does Firma Cras have?
- Firma Cras had an average of 35.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Firma Cras fall under?
- In its 2025 annual accounts, Firma Cras states joint committees 125.03 (Timber trade) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Firma Cras?
- The annual accounts for financial year 2025 state no turnover.
- Is Firma Cras profitable?
- In financial year 2025, Firma Cras made a loss of €10.0m.
- Where can I find the annual accounts of Firma Cras?
- Firma Cras filed 79 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Firma Cras due?
- Firma Cras must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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