GOETHALS
ActiveGOETHALS has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €307k and a net result of €21k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 68% of 9623 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
69
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability73▼-5
Solvency80=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 2.47 against 2.73 in 2023; short-term debt: 37.8% and cash: 3.5% of total assets), and 45.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
27 d late
2019
24 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€307k▼ 8.6%
2023 · €336k
2018: €140k
2019: €174k
2020: €235k
2021: €308k
2022: €341k
2023: €336k
2018 → 2024
Total assets
€560k▼ 8.3%
2023 · €611k
2018: €570k
2019: €533k
2020: €569k
2021: €608k
2022: €626k
2023: €611k
2018 → 2024
Net result
€21k▼ 53.9%
2023 · €45k
2018: €6k
2019: €34k
2020: €61k
2021: €73k
2022: €33k
2023: €45k
2018 → 2024
Working capital
€310k▼ 10.8%
2023 · €348k
2018: €279k
2019: €289k
2020: €326k
2021: €373k
2022: €374k
2023: €348k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€235k-€308k▲ 30.8%€341k▲ 10.7%€336k▼ 1.3%€307k▼ 8.6%
Operating result€79k-€88k▲ 11.8%€36k▼ 58.9%€56k▲ 55.1%€21k▼ 62.0%
Net result€61k-€73k▲ 18.3%€33k▼ 54.4%€45k▲ 37.3%€21k▼ 53.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 62% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €560k
Fixed assets
€38k▼ 38.6%
Current assets
€522k▼ 4.9%
Equity and liabilities €560k
Equity
€307k▼ 8.6%
Debt
€253k▼ 7.9%
The debt ratio rises from 44.9% to 45.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€45k▼
2023 · €80k
Cash flow
€45k▼
2023 · €70k
Solvency
54.9%▼
2023 · 55.1%
Current ratio
2.47▼
2023 · 2.73
Quick ratio
1.93▼
2023 · 2.25
Debt / equity
0.82▲
2023 · 0.82
ROE
6.8%▼
2023 · 13.5%
ROA
3.7%▼
2023 · 7.4%
Interest coverage
10.16▼
2023 · 10.49
Debt
€253k▼
2023 · €275k
Debt ≤ 1 year
€211k▲
2023 · €201k
Debt > 1 year
€32k▼
2023 · €74k
Income taxes
€7k▼
2023 · €16k
Staff costs
€86k▲
2023 · €46k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€611k€560k▼
Fixed assets21/28€63k€38k▼
Tangible fixed assets22/27€63k€38k▼
Land and buildings22€60k€37k▼
Plant, machinery and equipment23€441€140▼
Furniture and vehicles24€2k€931▼
Current assets29/58€548k€522k▼
Stocks and contracts in progress3€97k€114k▲
Stocks30/36€97k€114k▲
Amounts receivable within one year40/41€419k€388k▼
Trade receivables40€54k€75k▲
Other amounts receivable41€365k€313k▼
Cash at bank and in hand54/58€32k€19k▼
Deferred charges and accrued income490/1€714€320▼
Equity and liabilities
Total equity and liabilities10/49€611k€560k▼
Equity10/15€336k€307k▼
Contributions10/11€19k€19k=
Reserves13€318k€289k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€316k€287k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€275k€253k▼
Amounts payable after more than one year17€74k€32k▼
Financial debts170/4€74k€32k▼
Amounts payable within one year42/48€201k€211k▲
Current portion of amounts payable after more than one year42€46k€42k▼
Financial debts43€13k€13k▼
Credit institutions430/8€13k€13k▼
Trade debts44€79k€88k▲
Suppliers440/4€79k€88k▲
Taxes, remuneration and social security45€13k€19k▲
Taxes450/3€2k€3k▲
Remuneration and social security454/9€11k€16k▲
Other amounts payable47/48€50k€50k=
Accrued charges and deferred income492/3-€10k
Income statement
Code20232024
Remuneration, social security and pensions62€46k€86k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€24k=
Other operating charges640/8€499€1k▲
Gross operating margin9900€127k€132k▲
Operating profit (loss)9901€56k€21k▼
Financial income75/76B€13k€11k▼
Recurring financial income75€13k€11k▼
Financial charges65/66B€8k€4k▼
Recurring financial charges65€8k€4k▼
Profit (loss) for the period before taxes9903€61k€28k▼
Income taxes67/77€16k€7k▼
Profit (loss) for the period9904€45k€21k▼
Profit (loss) for the period to be appropriated9905€45k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€45k€21k▼
Transfer from equity791/2€5k€29k▲
Profit to be distributed694/7€50k€50k=
Return on contributions (dividend)694€50k€50k=
Social balance
Average headcount (FTE)90871.11.0▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
02-09
State Gazette act
Registered office · Legal-form change · Resignations & appointmentsGeneral meeting · Director resignation · Director appointment8 facts ▸
State Gazette act
Registered office · Legal-form change · Resignations & appointments
General meeting · Director resignation · Director appointment8 facts ▸
- General meeting, 2026-08-31
- Director resignation, Geert Debaere (niet statutair bestuurder)
- Director appointment, Apcor (niet statutair bestuurder)
- Permanent representative, Pieterjan Corne
- Power of attorney, Accofisc
- Board meeting, 2026-08-31
- Registered-office move, 8510 Kortrijk (Rollegem), Kastanjedreef 9
- Legal-form change, WIJZIGING RECHTSVORM
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €73k ▲18.3%
Operating result €88k, net result €73k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Equity above €200kEq €235k ▲35.2%
3 profitable years in a row build equity to €235k.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €150kEq €174k ▲24.1%
2 profitable years in a row build equity to €174k.
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 21 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
2016
15-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
APCOR
CurrentNon-statutory director · since 31-08-2026 · Private limited company · perm. rep.: Pieterjan Corne
31-08-2026
APCOR: Appointed as Non-statutory director
31-08-2026
Geert Debaere: Resigned as Non-statutory director
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 1979
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kastanjedreef(Rol) 98510 KortrijkGround area
1,972 m²
Building footprint
412 m²
Volume, LiDAR
2,855 m³
2 parcels, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Apotheek Degroote Marlies
since 19792.016.201.418
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34033C0249/00D000 | Flanders | 1,597 m² | 1 · 249 m² | 11.0 m · 2 fl. |
| 34005C0215/00D000 | Flanders | 375 m² | 1 · 162 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
Recognitions · licences · registrations
Food safety, FASFC
1 siteKortrijk2.016.201.418
Similar companies · same sector, comparable size
Pharmacie de Cherain
BE 0808.728.392
Gouvy · Eq €307k
ACACIA
BE 0420.628.919
Halle · Eq €307k
Apotheek G. Dezillie
BE 0465.994.928
Duffel · Eq €308k
DE RUYCK PHARMA
BE 0818.535.488
Deinze · Eq €307k
APOTHEEK GREET KEYSERS
BE 0478.620.071
Tielt-Winge · Eq €308k
Of 5,222 companies in sector 47730 we hold annual accounts for 3,861. 3,496 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-03-1979
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
52310
Sources
Crossroads Bank for EnterprisesNational Bank · 45 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.