Checked.be
Active
BE 0450.318.738Private limited company
GLASSWARE
Missestraat 58 ·2570 Duffel, Belgium· 33 yrs active
Sector: Wholesale of non-electrical household articles
(46494)
Conclusion
GLASSWARE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €281k and a net result of €13k. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 38% of 10963 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €281k |
| Net result | €13k |
| Better than sector | 38% |
| Active | 33 yrs |
Financial profile
44
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
36
Profitability
23
Solvency
31
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1993, 33 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 Flags
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
36
/ 100
Weak
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
€10k
estimate, not credit advice
Score history
60
2021
12
2022
54
2023
12
2024
36
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.51 (< 1.0)
-10
Quick ratio
Quick ratio 0.51 (< 0.6)
-5
Profitability
ROE 5%
+3
Interest coverage
Interest coverage -1.4× (< 1.5×)
-10
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 02-02-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 5 fiscal years (±2.4%/year).
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 (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 27.1% | 42.5% | |
| Net result | €13k | €6k | |
| Equity | €281k | €60k | |
| Gross operating margin | €21k | €29k | |
| Total assets | €1.04M | €175k |
€18k
+409.6%
21-25
€13k
-
21-25
€38k
-
21-25
€1.04M
-1.2%
21-25
€281k
+4.9%
21-25
€-327k
-6.8%
21-25
€1k
+112130.7%
21-25
€749k
-3.3%
21-25
€667k
+5.1%
21-25
€83k
-41.2%
21-25
0.51
-1.5%
21-25
0.51
-1.5%
21-25
27.1%
+6.2%
21-25
2.67
-7.9%
21-25
4.7%
-
21-25
1.3%
-
21-25
-1.35
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €18k | €3k | €36k | €6k | €88k |
| Net profit | €13k | €-33k | €15k | €-15k | €266k |
| Cash flow | €38k | €-9k | €38k | €6k | €287k |
| Staff costs | - | - | - | - | - |
| Income taxes | €1k | €1 | €909 | - | €18k |
| Dividends | - | - | - | - | - |
| Total assets | €1.04M | €1.05M | €1.06M | €1.08M | €1.16M |
| Equity | €281k | €268k | €301k | €286k | €301k |
| Debt | €749k | €775k | €752k | €780k | €846k |
| of which ≤ 1y | €667k | €634k | €588k | €579k | €611k |
| of which > 1y | €83k | €141k | €163k | €201k | €235k |
| Working capital | €-327k | €-306k | €-263k | €-263k | €-226k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.51 | 0.52 | 0.55 | 0.55 | 0.63 |
| Quick ratio | 0.51 | 0.52 | 0.55 | 0.55 | 0.63 |
| Working capital ratio | -31.5% | -29.1% | -24.8% | -24.4% | -19.5% |
| Solvency | 27.1% | 25.5% | 28.3% | 26.6% | 26.0% |
| Debt / equity | 2.67 | 2.89 | 2.50 | 2.73 | 0.78 |
| Long-term debt ratio | 0.29 | 0.53 | 0.54 | 0.70 | 0.78 |
| Interest coverage | -1.35 | 0.18 | 8.31 | 1.18 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.3% | -3.1% | 1.4% | -1.4% | 23.0% |
| ROE | 4.7% | -12.2% | 5.0% | -5.3% | 88.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
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 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.04M | €1.05M | €1.06M | €1.08M | €1.16M |
| Fixed assets | 21/28 | €700k | €724k | €736k | €759k | €772k |
| Tangible fixed assets | 22/27 | €700k | €724k | €736k | €759k | €772k |
| Financial fixed assets | 28 | €1 | €1 | €1 | €1 | €1 |
| Current assets | 29/58 | €340k | €328k | €326k | €317k | €385k |
| Amounts receivable within one year | 40/41 | €340k | €327k | €324k | €315k | €382k |
| Cash & bank | 54/58 | €10 | €1k | €1k | €2k | €3k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.04M | €1.05M | €1.06M | €1.08M | €1.16M |
| Equity | 10/15 | €281k | €268k | €301k | €286k | €301k |
| Contributions / capital | 10/11 | €7k | €7k | €7k | €7k | - |
| Reserves | 13 | €39k | €26k | €27k | €28k | €28k |
| Accumulated profits (losses) | 14 | €235k | €235k | €267k | €252k | €266k |
| Provisions & deferred taxes | 16 | €9k | €9k | €9k | €10k | €10k |
| Amounts payable | 17/49 | €749k | €775k | €752k | €780k | €846k |
| Amounts payable after one year | 17 | €83k | €141k | €163k | €201k | €235k |
| Amounts payable within one year | 42/48 | €667k | €634k | €588k | €579k | €611k |
| Trade debts payable within one year | 44 | €3k | €7k | €774 | €13k | €10k |
| Income statement | ||||||
| Gross operating margin | 9900 | €21k | €7k | €37k | €8k | €89k |
| Operating result | 9901 | €-7k | €-20k | €13k | €-16k | €67k |
| Financial income | 75 | €8k | €6k | €7k | €5k | €5k |
| Financial charges | 65 | €-13k | €19k | €4k | €5k | €5k |
| Result before taxes | 9903 | €14k | €-33k | €16k | €-16k | €68k |
| Income taxes | 67/77 | €1k | €1 | €909 | - | €18k |
| Net result for the period | 9904 | €13k | €-33k | €15k | €-15k | €50k |
| Result to be appropriated | 9905 | €14k | €-32k | €16k | €-14k | €51k |
Legal Structure
| NACE primary | Wholesale of non-electrical household articles(46494) |
| Legal form | Private limited company(610) |
| Incorporation | 10-06-1993 |
| Status | Active |
| Postal code | 2570 |
Establishment units
GLASSWARE BVBA
since 19932.064.562.945
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12009A0396/00B002 | Flanders | 1,488 m² | 1 · 103 m² | 9.5 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
30-06
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 55 days late
2024
30-06
Financial
Weakest financial yearnet €-33k ▼319%
Net result drops to €-33k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 88 days late
2018
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Wholesale of non-electrical household articles4649451441
Names & trade names
| Legal nameNL | GLASSWARE |
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