FIRST TIME RIGHT
ActiveSummary
The computed 12-month bankruptcy probability of FIRST TIME RIGHT is 1.5% (moderate). The 2024 annual accounts show equity of €155k and a net result of €12k. Equity is growing by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 44% of 1852 sector peers (fiscal year 2024). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability72▼-14
Solvency63▲+10
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.26 against 1.05 in 2023; short-term debt: 62.3% and cash: 14.8% of total assets), and 62.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Two 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-06-2025, 59 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
59 d early
2023
50 d late
2022
7 d early
2021
192 d late
2020
58 d late
2019
56 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€155k▲ 0.2%
2023 · €155k
2018: €46klowest in 7 years
2019: €72k▲ +57.5% vs 2018
2020: €99k▲ +36.8% vs 2019
2021: €126k▲ +27.6% vs 2020
2022: €132k▲ +4.9% vs 2021
2023: €155k▲ +17.2% vs 2022
2024: €155k▲ +0.2% vs 2023highest in 7 years
2018 → 2024
Total assets
€412k▼ 25.9%
2023 · €557k
2018: €333klowest in 7 years
2019: €580k▲ +74.4% vs 2018
2020: €604k▲ +4.2% vs 2019
2021: €642k▲ +6.3% vs 2020highest in 7 years
2022: €593k▼ -7.7% vs 2021
2023: €557k▼ -6.1% vs 2022
2024: €412k▼ -25.9% vs 2023
2018 → 2024
Net result
€12k▼ 85.3%
2023 · €79k
2018: €27k
2019: €73k▲ +167% vs 2018
2020: €75k▲ +3.6% vs 2019
2021: €123k▲ +62.3% vs 2020highest in 7 years
2022: €26k▼ -79.0% vs 2021
2023: €79k▲ +206% vs 2022
2024: €12k▼ -85.3% vs 2023lowest in 7 years
2018 → 2024
Working capital
€66k▲ 213%
2023 · €21k
2018: €-38klowest in 7 years
2019: €-10k▲ +74.8% vs 2018
2020: €48k▲ +600% vs 2019
2021: €33k▼ -31.0% vs 2020
2022: €-37k▼ -211% vs 2021
2023: €21k▲ +157% vs 2022
2024: €66k▲ +213% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€99k-€126k▲ 27.6%€132k▲ 4.9%€155k▲ 17.2%€155k▲ 0.2%
2020: €99klowest in 5 years
2021: €126k▲ +27.6% vs 2020
2022: €132k▲ +4.9% vs 2021
2023: €155k▲ +17.2% vs 2022
2024: €155k▲ +0.2% vs 2023highest in 5 years
Operating result€90k-€137k▲ 51.5%€42k▼ 69.3%€96k▲ 129%€20k▼ 78.9%
2020: €90k
2021: €137k▲ +51.5% vs 2020highest in 5 years
2022: €42k▼ -69.3% vs 2021
2023: €96k▲ +129% vs 2022
2024: €20k▼ -78.9% vs 2023lowest in 5 years
Net result€75k-€123k▲ 62.3%€26k▼ 79.0%€79k▲ 206%€12k▼ 85.3%
2020: €75k
2021: €123k▲ +62.3% vs 2020highest in 5 years
2022: €26k▼ -79.0% vs 2021
2023: €79k▲ +206% vs 2022
2024: €12k▼ -85.3% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 79% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €412k
Fixed assets
€90k ▼ 41.7%
Current assets
€323k ▼ 19.9%
Equity and liabilities €412k
Equity
€155k ▲ 0.2%
Debt
€257k ▼ 36.0%
Debt's share of the balance-sheet total falls from 72.2% to 62.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€84k▼
2023 · €176k
Cash flow
€76k▼
2023 · €158k
Current ratio
1.26▲
2023 · 1.05
Debt to equity
1.66▼
2023 · 2.59
ROE
7.4%▼
2023 · 50.7%
ROA
2.8%▼
2023 · 14.1%
Interest coverage
25.84▼
2023 · 66.64
Debt ≤ 1 year
€257k▼
2023 · €382k
Debt > 1 year
€0▼
2023 · €20k
Income taxes
€6k▼
2023 · €16k
Staff costs
€1.07M▼
2023 · €1.20M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 53 lines
Balance sheet
Code20232024
Assets
Total assets20/58€557k€412k▼
Fixed assets21/28€154k€90k▼
Tangible fixed assets22/27€153k€89k▼
Furniture and vehicles24€153k€89k▼
Financial fixed assets28€540€540=
Current assets29/58€403k€323k▼
Amounts receivable within one year40/41€248k€260k▲
Trade receivables40€239k€225k▼
Other amounts receivable41€9k€35k▲
Cash at bank and in hand54/58€155k€61k▼
Deferred charges and accrued income490/1-€1k
Equity and liabilities
Total equity and liabilities10/49€557k€412k▼
Equity10/15€155k€155k▲
Contributions10/11€19k€19k=
Reserves13€136k€137k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€136k€137k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€402k€257k▼
Amounts payable after more than one year17€20k€0▼
Financial debts170/4€20k€0▼
Amounts payable within one year42/48€382k€257k▼
Current portion of amounts payable after more than one year42€41k€20k▼
Financial debts43€15k€0▼
Credit institutions430/8€15k€0▼
Trade debts44€109k€135k▲
Suppliers440/4€109k€135k▲
Taxes, remuneration and social security45€156k€85k▼
Taxes450/3€25k€23k▼
Remuneration and social security454/9€131k€62k▼
Other amounts payable47/48€62k€17k▼
Income statement
Code20232024
Remuneration, social security and pensions62€1.20M€1.07M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€80k€64k▼
Other operating charges640/8€27k€27k▲
Gross operating margin9900€1.40M€1.19M▼
Operating profit (loss)9901€96k€20k▼
Financial income75/76B€612€1▼
Recurring financial income75€612€1▼
Financial charges65/66B€3k€3k▲
Recurring financial charges65€3k€3k▲
Profit (loss) for the period before taxes9903€94k€17k▼
Income taxes67/77€16k€6k▼
Profit (loss) for the period9904€79k€12k▼
Profit (loss) for the period to be appropriated9905€79k€12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€79k€12k▼
Transfer to equity691/2€23k€362▼
To other reserves6921€23k€362▼
Profit to be distributed694/7€56k€11k▼
Return on contributions (dividend)694€0-
Directors or managers695€43k€0▼
Employees696€13k€11k▼
Social balance
Average headcount (FTE)908723.720.8▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €884k | €1.04M | €1.20M | €1.07M | ▼ 10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €87k | €74k | €86k | €80k | €64k | ▼ 19.6% |
| Other operating charges640/8 | - | €17k | €21k | €27k | €27k | ▲ 0.7% |
| Gross operating margin9900 | €858k | €1.11M | €1.19M | €1.40M | €1.19M | ▼ 15.6% |
| Operating profit (loss)9901 | €90k | €137k | €42k | €96k | €20k | ▼ 78.9% |
| Financial income75/76B | - | €903 | €0 | €612 | €1 | ▼ 99.8% |
| Recurring financial income75 | €814 | €903 | €0 | €612 | €1 | ▼ 99.8% |
| Non-recurring financial income76B | - | €0 | - | - | - | - |
| Financial charges65/66B | - | €4k | €5k | €3k | €3k | ▲ 23.6% |
| Recurring financial charges65 | €4k | €4k | €5k | €3k | €3k | ▲ 23.6% |
| Profit (loss) for the period before taxes9903 | €87k | €133k | €37k | €94k | €17k | ▼ 81.9% |
| Income taxes67/77 | €12k | €11k | €11k | €16k | €6k | ▼ 65.1% |
| Profit (loss) for the period9904 | €75k | €123k | €26k | €79k | €12k | ▼ 85.3% |
| Profit (loss) for the period to be appropriated9905 | €75k | €123k | €26k | €79k | €12k | ▼ 85.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €604k | €642k | €593k | €557k | €412k | ▼ 25.9% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €239k | €236k | €230k | €154k | €90k | ▼ 41.7% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €238k | €236k | €229k | €153k | €89k | ▼ 41.8% |
| Furniture and vehicles24 | - | €219k | €229k | €153k | €89k | ▼ 41.8% |
| Leasing and similar rights25 | - | €17k | €0 | - | - | - |
| Financial fixed assets28 | €540 | €540 | €540 | €540 | €540 | = |
| Current assets29/58 | €433k | €406k | €363k | €403k | €323k | ▼ 19.9% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €223k | €294k | €275k | €248k | €260k | ▲ 5.0% |
| Trade receivables40 | - | €294k | €262k | €239k | €225k | ▼ 5.8% |
| Other amounts receivable41 | - | €4 | €13k | €9k | €35k | ▲ 291% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €195k | €112k | €88k | €155k | €61k | ▼ 60.5% |
| Deferred charges and accrued income490/1 | - | €390 | €0 | - | €1k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €604k | €642k | €593k | €557k | €412k | ▼ 25.9% |
| Equity10/15 | €99k | €126k | €132k | €155k | €155k | ▲ 0.2% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €80k | €107k | €114k | €136k | €137k | ▲ 0.3% |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | €106k | €112k | €136k | €137k | ▲ 0.3% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €508k | €516k | €460k | €402k | €257k | ▼ 36.0% |
| Amounts payable after more than one year17 | €157k | €143k | €61k | €20k | €0 | ▼ 100% |
| Financial debts170/4 | - | €143k | €61k | €20k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €386k | €373k | €400k | €382k | €257k | ▼ 32.7% |
| Current portion of amounts payable after more than one year42 | - | €112k | €84k | €41k | €20k | ▼ 52.1% |
| Financial debts43 | - | €16k | €19k | €15k | €0 | ▼ 100% |
| Credit institutions430/8 | - | €16k | €19k | €15k | €0 | ▼ 100% |
| Trade debts44 | €154k | €28k | €60k | €109k | €135k | ▲ 24.0% |
| Suppliers440/4 | - | €28k | €60k | €109k | €135k | ▲ 24.0% |
| Taxes, remuneration and social security45 | - | €119k | €130k | €156k | €85k | ▼ 45.4% |
| Taxes450/3 | - | €18k | €20k | €25k | €23k | ▼ 9.0% |
| Remuneration and social security454/9 | - | €101k | €110k | €131k | €62k | ▼ 52.4% |
| Other amounts payable47/48 | - | €97k | €107k | €62k | €17k | ▼ 71.7% |
| Accrued charges and deferred income492/3 | - | €0 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €75k | €123k | €26k | €79k | €12k | ▼ 85.3% |
| + Depreciation and write-downs630 | €87k | €74k | €86k | €80k | €64k | ▼ 19.6% |
| Operating cash flow (approximation) | €162k | €196k | €112k | €158k | €76k | ▼ 52.2% |
| Investment in fixed assets (approximation) | - | €-71k | €-80k | €-4k | €0 | ▲ 100% |
| Change in cash | - | €-84k | €-24k | €67k | €-94k | ▼ 239% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €12k ▼85.3%
Net result drops to €12k, the lowest in the series.
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 50 days late
2023
31-12
Financial
Equity above €150kEq €155k ▲17.2%
6 profitable years in a row build equity to €155k.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
08-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 192 days late
2021
31-12
Financial
Highest result since 2018net €123k ▲62.3%
Operating result €137k, net result €123k, both a record.
31-12
Financial
Equity above €100kEq €126k ▲27.6%
4 profitable years in a row build equity to €126k.
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Wetteren · 1 establishment unit since 2023
Ground area
2.4 ha
Building footprint
1.4 ha
Parcel 42025G0836/00F000, Flanders. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Biezeweg 9, 9230 Wetteren
since 20232.344.317.774
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42025G0836/00F000 | Flanders | 2.4 ha | 1 · 1.4 ha | - |
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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,634 EUR awarded · 1,469 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 972 EUR | 954 EUR |
| 2024 | 1 | 245 EUR | 245 EUR |
| 2023 | 1 | 417 EUR | 270 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,199. 6,360 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
Founded25-10-2017
Fiscal year end31-12
Abbreviation NL
FTR
Activities, NACEBEL 2025
49410Freight transport by road
Contact
Phone
+3292582400
Scores and ratios are computed by Checked and are not a credit decision.