FRUITHANDEL VH
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 04-06-2026 PDF all 21 filings
Turnover
≈ €1.3m
Estimated: probably between €550,000 and €2.3m
Total assets
€361,695▼ 20.1%
2024 · €452,511
Net result
-€3,984
2024 · €466
Working capital
-€61,288▲ 4.0%
2024 · -€63,847
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,098
▼ 34.3%
2025
20182025
Net result
-€3,984
2025
lowest quarter of the sector
20182025
Equity
€34,616
▼ 10.3%
2025
lowest quarter of the sector
20182025
Total assets
€361,695
▼ 20.1%
2025
lowest quarter of the sector
20182025
Debt
€327,080
▼ 21.0%
2025
20182025
Working capital
-€61,288
▲ 4.0%
2025
lowest quarter of the sector
20182025
Solvency
9.6%
▲ 1.0pp
2025
lowest quarter of the sector
20182025
Current ratio
0.49
▼ 0.16
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-1.1%
▼ 1.2pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
3
▲ 3.4%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€3,794-€21,981€13,413▼ 39.0%€13,667▲ 1.9%-€5,850€15,798€7,754▼ 50.9%€5,098▼ 34.3%
Net result-€12,967-€12,110€3,953within the sector's middle half▼ 67.4%€10,107within the sector's middle half▲ 156%-€14,918below the sector's middle half€5,937within the sector's middle half€466below the sector's middle half▼ 92.1%-€3,984below the sector's middle half
Equity€20,945-€33,055▲ 57.8%€37,008below the sector's middle half▲ 12.0%€47,115below the sector's middle half▲ 27.3%€32,197below the sector's middle half▼ 31.7%€38,134below the sector's middle half▲ 18.4%€38,600below the sector's middle half▲ 1.2%€34,616below the sector's middle half▼ 10.3%
Total assets€448,693-€487,107▲ 8.6%€459,870below the sector's middle half▼ 5.6%€504,814below the sector's middle half▲ 9.8%€450,065below the sector's middle half▼ 10.8%€418,770below the sector's middle half▼ 7.0%€452,511below the sector's middle half▲ 8.1%€361,695below the sector's middle half▼ 20.1%
Debt€427,748-€454,052▲ 6.1%€422,862▼ 6.9%€457,699▲ 8.2%€417,868▼ 8.7%€380,636▼ 8.9%€413,911▲ 8.7%€327,080▼ 21.0%
Working capital-€83,382--€68,547▲ 17.8%-€51,400below the sector's middle half▲ 25.0%-€54,085below the sector's middle half▼ 5.2%-€70,263below the sector's middle half▼ 29.9%-€60,473below the sector's middle half▲ 13.9%-€63,847below the sector's middle half▼ 5.6%-€61,288below the sector's middle half▲ 4.0%
Solvency4.7%-6.8%▲ 2.1pp8.0%below the sector's middle half▲ 1.3pp9.3%below the sector's middle half▲ 1.3pp7.2%below the sector's middle half▼ 2.2pp9.1%below the sector's middle half▲ 2.0pp8.5%below the sector's middle half▼ 0.6pp9.6%below the sector's middle half▲ 1.0pp
Current ratio0.20-0.42▲ 0.220.54below the sector's middle half▲ 0.110.51below the sector's middle half▼ 0.030.37below the sector's middle half▼ 0.130.46below the sector's middle half▲ 0.090.65below the sector's middle half▲ 0.190.49below the sector's middle half▼ 0.16
Return on assets (ROA)-2.9%-2.5%▲ 5.4pp0.9%within the sector's middle half▼ 1.6pp2.0%within the sector's middle half▲ 1.1pp-3.3%below the sector's middle half▼ 5.3pp1.4%within the sector's middle half▲ 4.7pp0.1%below the sector's middle half▼ 1.3pp-1.1%below the sector's middle half▼ 1.2pp
Staff (FTE)2.5-2.8▲ 12.0%2.6within the sector's middle half▼ 7.1%2.7within the sector's middle half▲ 3.8%2.4within the sector's middle half▼ 11.1%3.2within the sector's middle half▲ 33.3%2.9within the sector's middle half▼ 9.4%3within the sector's middle half▲ 3.4%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 34% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €361,695
Fixed assets
€303,928 ▼ 9.6%
Current assets
€57,767 ▼ 50.3%
Equity and liabilities €361,695
Equity
€34,616 ▼ 10.3%
Debt
€327,080 ▼ 21.0%
Debt's share of the balance-sheet total falls from 91.5% to 90.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€37,350▼
2024 · €40,399
Cash flow
€28,268▼
2024 · €33,110
Quick ratio
0.27▼
2024 · 0.50
Debt to equity
9.45▼
2024 · 10.72
ROE
-11.5%▼
2024 · 1.2%
Interest coverage
4.11▼
2024 · 4.91
Debt ≤ 1 year
€119,055▼
2024 · €180,178
Debt > 1 year
€208,024▼
2024 · €233,253
Staff costs
€113,796▼
2024 · €116,192
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 3 | 3 | 2 |
| full-time | 2 | 2 | 2 | 2 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 2.5 | 2.6 | 2.6 | 2.6 | 1.6 |
| Average over the year, in full-time equivalents | 2.7 | 2.4 | 3.2 | 2.9 | 3 |
| On a permanent contract | 3 | 3 | 3 | 3 | 2 |
| Joined | 89 | 94 | 84 | 32 | 27 |
| Left | 89 | 94 | 84 | 32 | 28 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €89,064 | €1,850 | €1,059 | €1,085 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €40,262 | €42,600 | €41,671 | €32,644 | €32,252 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €85,248 | €82,630 | €110,823 | €116,192 | €113,796 | ▼ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,946 | €39,317 | €38,793 | €40,262 | €42,600 | €41,671 | €32,644 | €32,252 | ▼ 1.2% |
| Other operating charges640/8 | - | - | - | €4,184 | €4,961 | €3,953 | €3,969 | €4,466 | ▲ 12.5% |
| Gross operating margin9900 | €117,089 | €147,761 | €123,736 | €143,361 | €124,341 | €172,245 | €160,560 | €155,612 | ▼ 3.1% |
| Operating profit (loss)9901 | -€3,794 | €21,981 | €13,413 | €13,667 | -€5,850 | €15,798 | €7,754 | €5,098 | ▼ 34.3% |
| Financial income75/76B | - | - | - | €5,694 | - | - | €947 | €0 | ▼ 100% |
| Recurring financial income75 | €507 | €128 | €65 | €5,694 | - | - | €947 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €9,254 | €9,068 | €9,861 | €8,235 | €9,083 | ▲ 10.3% |
| Recurring financial charges65 | €9,680 | €9,999 | €9,525 | €9,254 | €9,068 | €9,861 | €8,235 | €9,083 | ▲ 10.3% |
| Profit (loss) for the period before taxes9903 | -€12,967 | €12,110 | €3,953 | €10,107 | -€14,918 | €5,937 | €466 | -€3,984 | - |
| Profit (loss) for the period9904 | -€12,967 | €12,110 | €3,953 | €10,107 | -€14,918 | €5,937 | €466 | -€3,984 | - |
| Profit (loss) for the period to be appropriated9905 | -€12,967 | €12,110 | €3,953 | €10,107 | -€14,918 | €5,937 | €466 | -€3,984 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €448,693 | €487,107 | €459,870 | €504,814 | €450,065 | €418,770 | €452,511 | €361,695 | ▼ 20.1% |
| Fixed assets21/28 | €427,921 | €437,399 | €400,684 | €449,102 | €408,352 | €367,740 | €336,180 | €303,928 | ▼ 9.6% |
| Tangible fixed assets22/27 | €427,417 | €436,896 | €400,181 | €448,598 | €407,848 | €367,236 | €335,677 | €303,424 | ▼ 9.6% |
| Land and buildings22 | - | - | - | €344,563 | €322,181 | €299,799 | €277,416 | €255,034 | ▼ 8.1% |
| Plant, machinery and equipment23 | - | - | - | €2,132 | €615 | €315 | €15 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €101,903 | €85,053 | €67,123 | €58,246 | €48,390 | ▼ 16.9% |
| Financial fixed assets28 | €504 | €504 | €504 | €504 | €504 | €504 | €504 | €504 | = |
| Current assets29/58 | €20,772 | €49,708 | €59,186 | €55,712 | €41,713 | €51,031 | €116,331 | €57,767 | ▼ 50.3% |
| Stocks and contracts in progress3 | €3,000 | €10,111 | €15,670 | €21,233 | €30,241 | €25,141 | €26,020 | €26,050 | ▲ 0.1% |
| Stocks30/36 | - | - | - | €21,233 | €30,241 | €25,141 | €26,020 | €26,050 | ▲ 0.1% |
| Amounts receivable within one year40/41 | €3,421 | €6,664 | €736 | €2,845 | €7,740 | €15,191 | €75,678 | €22,840 | ▼ 69.8% |
| Trade receivables40 | - | - | - | - | €5,909 | €14,263 | €73,868 | €19,810 | ▼ 73.2% |
| Other amounts receivable41 | - | - | - | €2,845 | €1,831 | €928 | €1,810 | €3,030 | ▲ 67.4% |
| Cash at bank and in hand54/58 | €6,831 | €32,234 | €39,826 | €25,878 | €1,931 | €7,559 | €13,430 | €1,455 | ▼ 89.2% |
| Deferred charges and accrued income490/1 | - | - | - | €5,757 | €1,801 | €3,140 | €1,203 | €7,423 | ▲ 517% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €448,693 | €487,107 | €459,870 | €504,814 | €450,065 | €418,770 | €452,511 | €361,695 | ▼ 20.1% |
| Equity10/15 | €20,945 | €33,055 | €37,008 | €47,115 | €32,197 | €38,134 | €38,600 | €34,616 | ▼ 10.3% |
| Contributions10/11 | €18,550 | €18,550 | - | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €34,536 | €34,536 | €34,536 | €34,536 | €34,536 | €34,536 | €34,536 | €34,536 | = |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €122 | €122 | €122 | €122 | €122 | = |
| Distributable reserves133 | - | - | - | €32,558 | €32,558 | €34,413 | €34,413 | €34,413 | = |
| Profit (loss) carried forward14 | -€32,140 | -€20,031 | -€16,077 | -€5,970 | -€20,889 | -€14,952 | -€14,486 | -€18,470 | ▼ 27.5% |
| Amounts payable17/49 | €427,748 | €454,052 | €422,862 | €457,699 | €417,868 | €380,636 | €413,911 | €327,080 | ▼ 21.0% |
| Amounts payable after more than one year17 | €323,593 | €335,310 | €311,657 | €347,521 | €305,512 | €268,332 | €233,253 | €208,024 | ▼ 10.8% |
| Financial debts170/4 | - | - | - | €347,521 | €305,512 | €268,332 | €233,253 | €208,024 | ▼ 10.8% |
| Amounts payable within one year42/48 | €104,155 | €118,254 | €110,586 | €109,798 | €111,976 | €111,504 | €180,178 | €119,055 | ▼ 33.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €41,265 | €42,010 | €37,179 | €50,919 | €25,229 | ▼ 50.5% |
| Financial debts43 | - | - | - | - | - | €15,091 | €15,091 | €25,759 | ▲ 70.7% |
| Credit institutions430/8 | - | - | - | - | - | €15,091 | €15,091 | €25,759 | ▲ 70.7% |
| Trade debts44 | €13,672 | €20,785 | €10,432 | €9,268 | €15,680 | €6,001 | €62,097 | €5,575 | ▼ 91.0% |
| Suppliers440/4 | - | - | - | €9,268 | €15,680 | €6,001 | €62,097 | €5,575 | ▼ 91.0% |
| Advances received on contracts in progress46 | - | - | - | - | €643 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €347 | €376 | €73 | €288 | €709 | ▲ 146% |
| Taxes450/3 | - | - | - | €347 | €376 | €73 | €288 | €709 | ▲ 146% |
| Other amounts payable47/48 | - | - | - | €58,918 | €53,268 | €53,159 | €51,783 | €61,783 | ▲ 19.3% |
| Accrued charges and deferred income492/3 | - | - | - | €380 | €380 | €800 | €480 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,967 | €12,110 | €3,953 | €10,107 | -€14,918 | €5,937 | €466 | -€3,984 | - |
| + Depreciation and write-downs630 | €34,946 | €39,317 | €38,793 | €40,262 | €42,600 | €41,671 | €32,644 | €32,252 | ▼ 1.2% |
| Operating cash flow (approximation) | €21,979 | €51,426 | €42,746 | €50,369 | €27,681 | €47,608 | €33,110 | €28,268 | ▼ 14.6% |
| Investment in fixed assets (approximation) | - | -€48,795 | -€2,078 | -€88,679 | -€1,850 | -€1,059 | -€1,085 | €0 | - |
| Change in cash | - | €25,403 | €7,592 | -€13,948 | -€23,946 | €5,627 | €5,871 | -€11,975 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 974 companies had the same profile as FRUITHANDEL VH has now. Two years later, 92.8% were still going and 2.3% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a small loss
92.8%
was still going
4.5%
stopped otherwise
2.3%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FRUITHANDEL VH itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,446 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 974 companies, not a prediction for FRUITHANDEL VH. 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.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 04-06-2026 | 2026-00145499 | |
| 31-12-2024 | abbreviated format | 06-06-2025 | 2025-00125481 | |
| 31-12-2023 | abbreviated format | 03-06-2024 | 2024-00108230 | |
| 31-12-2022 | abbreviated format | 04-07-2023 | 2023-00208592 | |
| 31-12-2021 | abbreviated format | 10-06-2022 | 2022-20063105 | |
| 31-12-2020 | abbreviated format | 14-06-2021 | 2021-20600427 | |
| 31-12-2019 | abbreviated format | 29-07-2020 | 2020-36200361 | |
| 31-12-2018 | micro format | 30-04-2019 | 2019-12000201 | |
| 31-12-2017 | micro format | 27-06-2018 | 2018-24900255 | |
| 31-12-2016 | micro format | 21-06-2017 | 2017-20600441 |