GOLDEN CUP
ActiveGOLDEN CUP has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €444k and a net result of €363k. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 35% of 4852 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. A confirmed filing finding caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency57▲+7
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days only on tighter terms
Liquidity tight (current ratio 1.2 against 1.13 in 2024; short-term debt: 55.8% and cash: 33.8% of total assets), and 68.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
31.7%
Return on assets
25.9%
Age of the figures
15 mo
raises risk · Filed more than 90 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 06-05-2026, 95 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
95 d late
2024
28 d late
2023
24 d late
2022
15 d late
2021
28 d late
2020
2 d early
2019
24 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close20-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€363k▼ 23.5%
2024 · €474k
2019: €350k
2020: €342k
2021: €549k
2022: €14k
2023: €593k
2024: €474k
2019 → 2025
Working capital
€154k▲ 1.5%
2024 · €152k
2019: €1.28M
2020: €1.52M
2021: €386k
2022: €342k
2023: €256k
2024: €152k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€331k-€344k▲ 3.9%€438k▲ 27.1%€441k▲ 0.9%€444k▲ 0.6%
Operating result€754k-€36k▼ 95.2%€813k▲ 2,145%€686k▼ 15.7%€541k▼ 21.1%
Net result€549k-€14k▼ 97.5%€593k▲ 4,166%€474k▼ 20.1%€363k▼ 23.5%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 21% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.40M
Fixed assets
€465k▲ 2.9%
Current assets
€936k▼ 26.9%
Equity and liabilities €1.40M
Equity
€444k▲ 0.6%
Debt
€957k▼ 25.9%
The debt ratio falls from 74.5% to 68.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€610k▼
2024 · €733k
Cash flow
€431k▼
2024 · €521k
Solvency
31.7%▲
2024 · 25.5%
Current ratio
1.20▲
2024 · 1.13
Quick ratio
1.00▲
2024 · 0.84
Debt / equity
2.16▼
2024 · 2.92
ROE
81.7%▼
2024 · 107.3%
ROA
25.9%▼
2024 · 27.4%
Interest coverage
15.57▼
2024 · 20.21
Debt
€957k▼
2024 · €1.29M
Debt ≤ 1 year
€782k▼
2024 · €1.13M
Debt > 1 year
€175k▲
2024 · €162k
Income taxes
€140k▼
2024 · €176k
Staff costs
€489k▲
2024 · €378k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.73M€1.40M▼
Fixed assets21/28€452k€465k▲
Intangible fixed assets21€77k€67k▼
Tangible fixed assets22/27€359k€382k▲
Land and buildings22€14k€8k▼
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€36k€38k▲
Other tangible fixed assets26€305k€334k▲
Financial fixed assets28€16k€16k=
Current assets29/58€1.28M€936k▼
Stocks and contracts in progress3€334k€150k▼
Stocks30/36€334k€150k▼
Amounts receivable within one year40/41€253k€279k▲
Trade receivables40€175k€172k▼
Other amounts receivable41€78k€107k▲
Cash at bank and in hand54/58€672k€473k▼
Deferred charges and accrued income490/1€22k€34k▲
Equity and liabilities
Total equity and liabilities10/49€1.73M€1.40M▼
Equity10/15€441k€444k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€12k€12k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€6k€6k=
Profit (loss) carried forward14€368k€370k▲
Amounts payable17/49€1.29M€957k▼
Amounts payable after more than one year17€162k€175k▲
Financial debts170/4€162k€175k▲
Amounts payable within one year42/48€1.13M€782k▼
Current portion of amounts payable after more than one year42€106k€124k▲
Financial debts43€150k-
Credit institutions430/8€150k-
Trade debts44€202k€74k▼
Suppliers440/4€202k€74k▼
Taxes, remuneration and social security45€160k€147k▼
Taxes450/3€124k€91k▼
Remuneration and social security454/9€35k€56k▲
Other amounts payable47/48€511k€437k▼
Income statement
Code20242025
Remuneration, social security and pensions62€378k€489k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€47k€69k▲
Other operating charges640/8€27k€30k▲
Gross operating margin9900€1.14M€1.13M▼
Operating profit (loss)9901€686k€541k▼
Financial income75/76B€457€426▼
Recurring financial income75€457€426▼
Financial charges65/66B€36k€39k▲
Recurring financial charges65€36k€39k▲
Profit (loss) for the period before taxes9903€650k€502k▼
Income taxes67/77€176k€140k▼
Profit (loss) for the period9904€474k€363k▼
Profit (loss) for the period to be appropriated9905€474k€363k▼
Appropriation of the result
Profit (loss) to be appropriated9906€838k€730k▼
Profit (loss) brought forward from the previous period14P€364k€368k▲
Profit to be distributed694/7€470k€360k▼
Return on contributions (dividend)694€470k€360k▼
Social balance
Average headcount (FTE)90878.38.9▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 95 days late
2025
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
24-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 24 days late
2023
30-06
Financial
Highest result since 2019net €593k ▲4166%
Operating result €813k, net result €593k, both a record.
15-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 15 days late
2022
30-06
Financial
Weakest financial yearnet €14k ▼97.5%
Net result drops to €14k, the lowest in the series; recovery starts the following year.
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 28 days late
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
24-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 24 days late
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
28-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 56 days late
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Nivelles · 6 establishment units since 2008
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.
Rue de l'Industrie 141400 NivellesGround area
4.0 ha
Building footprint
8,479 m²
Volume, LiDAR
31,940 m³
6 parcels, Brussels, Flanders, Wallonia · tallest building 24.5 m, ±7 floors. Linked by address, not a title deed.
6 establishment units
LEONIDAS
since 20082.177.920.412
Rue de l'Industrie 14, 1400 Nivelles
since 20142.235.945.416
Leonidas Shop
since 20232.347.464.138
LEONIDAS Hoeilaart
since 20242.355.232.551
LEONIDAS Alsemberg
since 20242.362.474.392
LEONIDAS CHIREC Delta
since 20252.382.289.415
6 parcels
Flanders
3
(50%)
Wallonia
2
(33.3%)
Brussels
1
(16.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21002A0254/00C000 | Brussels | 1.7 ha | 1 · 181 m² | 24.5 m · 7 fl. |
| 25782C0588/00A000 | Wallonia | 9,423 m² | 1 · 5,299 m² | 5.8 m · 2 fl. |
| 25033B0525/00D004 | Wallonia | 7,574 m² | 1 · 2,386 m² | - |
| 23001B0010/00L005 | Flanders | 5,854 m² | 1 · 454 m² | 12.8 m · 3 fl. |
| 23033B0710/00T000 | Flanders | 175 m² | 1 · 159 m² | 10.7 m · 3 fl. |
| 24302D0059/00F000 | Flanders | 33 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 5
6 of 6 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
6 sitesTervuren2.347.464.138
Beersel2.362.474.392
Hoeilaart2.355.232.551
Nivelles2.235.945.416
Show 2 more sites
Oudergem2.382.289.415
Rixensart2.177.920.412
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Of 453 companies in sector 46360 we hold annual accounts for 286. 188 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded22-03-1989
Fiscal year end30-06
Activities, NACEBEL
46360Wholesale trade
47241Retail sale of bread and pastry (bakery outlets)
52240
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.