Active BE 0417.388.525Public limited company

FIRST CLASS

Melkerijstraat 52 ·2900 Schoten, Belgium· 49 yrs active

Sector: Wholesale trade (46492)

Conclusion Checked

FIRST CLASS has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.67M and a net result of €55k. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 7728 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€1.67M
Net result	€55k
Staff (FTE)	1.8
Better than sector	72%

Financial profile 5 of 5 axes measured · computed by Checked

75 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 81

Profitability 16

Solvency 100

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.4% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1977, 49 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

81 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€130k

estimate, not credit advice

Score history

68 2022

89 2023

94 2024

81 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 2.94 (≥ 1.5) +10

Quick ratio Quick ratio 2.19 (≥ 1.0) +5

Leverage Debt/equity 0.49 (< 1.0) +10

Profitability ROE 3% +3

Interest coverage Interest coverage 2.0× +3

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview47 NBB filings

Annual accounts filed on 28-11-2025 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~4.5%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	67.0%	44.7%	better than 72% of 7728 sector peers
Net result	€55k	€31k	better than 58% of 7722 sector peers
Equity	€1.67M	€398k	better than 85% of 7736 sector peers
Gross operating margin	€285k	€211k	better than 57% of 7708 sector peers
Staff costs	€188k	€189k	higher than 50% of 4872 sector peers

EBITDA

€96k

-28.3% 22-25

Net profit

€55k

-35.5% 22-25

Cash flow

€68k

-29.5% 22-25

Total assets

€2.48M

-1.1% 22-25

Equity

€1.67M

+3.4% 22-25

Working capital

€1.59M

+2.0% 22-25

Employees (FTE)

2

0.0% 22-25

Staff costs

€188k

+18.4% 22-25

Income taxes

€31k

-8.5% 22-25

Dividends

€50k

- 22-25

Debt

€819k

-9.1% 22-25

Debt ≤ 1y

€819k

-9.0% 22-25

Current ratio

2.94

+7.7% 22-25

Quick ratio

2.19

+6.9% 22-25

Solvency

67.0%

+4.5% 22-25

Debt / equity

0.49

-12.0% 22-25

ROE

3.3%

-37.6% 22-25

ROA

2.2%

-34.8% 22-25

Interest coverage

1.98

-59.2% 22-25

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2025 Δ	2024 Δ	2023 Δ	2022 Δ
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-	-
EBITDA	-28.3%	+21.5%	+234.5%	-
Net profit	-35.5%	+27.7%	+41.7%	-
Cash flow	-29.5%	+26.8%	+23.5%	-
Staff costs	+18.4%	-2.1%	-1.5%	-
Income taxes	-8.5%	+78.6%	+8.6%	-
Dividends	-	-	-	-
Total assets	-1.1%	+1.8%	+5.9%	-
Equity	+3.4%	+5.6%	+4.6%	-
Debt	-9.1%	-4.2%	+8.2%	-
of which ≤ 1y	-9.0%	-4.3%	+8.2%	-
of which > 1y	-	-	-	-
Working capital	+2.0%	+6.6%	+3.4%	-
Employees (FTE)	0.0%	-5.3%	0.0%	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	2.94	2.73	2.56	2.63
Quick ratio	2.19	2.05	1.70	1.80
Working capital ratio	64.1%	62.2%	59.4%	60.9%
Solvency	67.0%	64.1%	61.9%	62.7%
Debt / equity	0.49	0.56	0.62	0.60
Long-term debt ratio	-	-	-	-
Interest coverage	1.98	4.86	2.28	1.04
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	2.2%	3.4%	2.7%	2.0%
ROE	3.3%	5.3%	4.4%	3.2%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €72k · 2.9% Current assets €2.41M · 97.1%

Equity & liabilities

Equity €1.67M · 67.0% Debt €819k · 33.0%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.48M	€2.51M	€2.47M	€2.33M
Fixed assets	21/28	€72k	€49k	€61k	€42k
Tangible fixed assets	22/27	€71k	€47k	€59k	€41k
Financial fixed assets	28	€2k	€2k	€2k	€2k
Current assets	29/58	€2.41M	€2.46M	€2.41M	€2.29M
Stocks & contracts in progress	3	€620k	€619k	€811k	€726k
Amounts receivable within one year	40/41	€640k	€641k	€663k	€756k
Investments	50/53	€897k	€916k	€525k	€423k
Cash & bank	54/58	€109k	€139k	€255k	€245k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.48M	€2.51M	€2.47M	€2.33M
Equity	10/15	€1.67M	€1.61M	€1.53M	€1.46M
Contributions / capital	10/11	€105k	€105k	€105k	€105k
Reserves	13	€1.49M	€1.49M	€1.39M	€1.32M
Accumulated profits (losses)	14	€65k	€11k	€26k	€36k
Amounts payable	17/49	€819k	€901k	€941k	€869k
Amounts payable within one year	42/48	€819k	€901k	€941k	€869k
Trade debts payable within one year	44	€730k	€574k	€396k	€348k
Income statement
Gross operating margin	9900	€285k	€297k	€275k	€200k
Operating result	9901	€82k	€122k	€100k	€18k
Financial income	75	€51k	€24k	€33k	€78k
Financial charges	65	€48k	€28k	€48k	€32k
Result before taxes	9903	€85k	€118k	€85k	€64k
Income taxes	67/77	€31k	€33k	€19k	€17k
Net result for the period	9904	€55k	€85k	€67k	€47k
Result to be appropriated	9905	€55k	€85k	€90k	€47k

Directors & mandates 5 directors

Directors derived from a single State Gazette act, under verification

All 3 current directors first appear in the same act (25025791). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.

Current directors & mandates

Marleen Van Den Brande
Director
State Gazette act 25025791 (24-02-2025)

Current
24-02-2025 → present
Oliverimmo NVLegal entity
Director· perm. rep.: Oliverimmo NV
State Gazette act 25025791 (24-02-2025)

Current
24-02-2025 → present
Olivier Platini
Director
State Gazette act 25025791 (24-02-2025)

Current
24-02-2025 → present

Former directors (2)

Guy Platini
Director
State Gazette act 25025791 (24-02-2025)

Former
- → 24-02-2025
Smart Import BVLegal entity
Director
State Gazette act 25025791 (24-02-2025)

Former
- → 24-02-2025

Legal Structure

NACE primary	Wholesale trade(46492)
Legal form	Public limited company(014)
Incorporation	05-08-1977
Status	Active
Postal code	2900

Establishment units 2 locations

Schalmeidreef 15, 2980 Zoersel

NACE 51475

since 19952.038.944.354

FIRST CLASS

Melkerijstraat 52, 2900 SchotenNACE 51475

since 19952.038.944.453

Real-estate footprint Source: CBE × cadastre

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11443C0630/00S000	Flanders	2,452 m²	1 · 2,108 m²	26.3 m · 2 fl.
11055A0431/00H000	Flanders	811 m²	1 · 166 m²	5.1 m · 1 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 12Financial 1Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-10-2026

2025

28-11

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 28 days late

24-02

State Gazette act Director changes

2024

30-11

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 30 days late

31-03

Financial Highest result since 2022net €85k ▲27.7%

Operating result €122k, net result €85k, both a record.

2023

29-12

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 59 days late

2022

18-11

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 18 days late

2021

16-11

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 16 days late

2020

25-11

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 25 days late

2019

30-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2018

30-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2017

31-10

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2016

29-10

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 6 acts read

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 1 year ago

2025

24-02-2025 4 directors appointed, 2 resigning Director changes

Oliverimmo NV, Bestuurder
Marleen Van Den Brande, Bestuurder
Olivier Platini, Bestuurder
Oliverimmo NV, Gedelegeerd bestuurder
Guy Platini, Bestuurder
Smart Import BV, Bestuurder

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Wholesale trade4649251475

Names & trade names

Legal nameNL

FIRST CLASS

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