GREG DE SCHUTTER
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 30-10-2026 at the NBB all 22 filings
Turnover
≈ €340,000
Estimated: probably between €210,000 and €630,000
Total assets
€1.5m▼ 8.6%
2025 · €1.6m
Net result
€6,041▼ 71.3%
2025 · €21,019
Working capital
€39,956▼ 9.0%
2025 · €43,915
In the rankings
#8 company by total assets in Stabroek, Manufacturing sector
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€36,005
▼ 43.6%
2026
20192026
Net result
€6,041
▼ 71.3%
2026
20192026
Equity
€248,318
▲ 2.5%
2026
20192026
Total assets
€1.5m
▼ 8.6%
2026
20192026
Debt
€1.2m
▼ 10.6%
2026
20192026
Working capital
€39,956
▼ 9.0%
2026
20192026
Solvency
16.9%
▲ 1.8pp
2026
20192026
Current ratio
1.08
=
2026
20192026
Return on assets (ROA)
0.4%
▼ 0.9pp
2026
20192026
Staff (FTE)
1.6
▼ 65.2%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.03m-€0.05m▲ 56.6%€0.04m▼ 10.5%€0.04m▼ 12.5%€0.03m▼ 22.4%€0.08m▲ 181%€0.06m▼ 17.2%€0.04m▼ 43.6%
Net result€0.01m-€0.02m▲ 49.3%€0.01mwithin the sector's middle half▼ 32.4%€0.008mwithin the sector's middle half▼ 42.1%€378below the sector's middle half▼ 95.5%€0.03mwithin the sector's middle half▲ 79×€0.02mwithin the sector's middle half▼ 29.7%€0.006m▼ 71.3%
Equity€0.1m-€0.2m▲ 14.6%€0.2mwithin the sector's middle half▲ 8.6%€0.2mwithin the sector's middle half▲ 4.6%€0.2mwithin the sector's middle half▲ 0.2%€0.2mwithin the sector's middle half▲ 15.6%€0.2mwithin the sector's middle half▲ 9.5%€0.2m▲ 2.5%
Total assets€1.1m-€1.2m▲ 11.5%€1.1mwithin the sector's middle half▼ 5.0%€1.1mwithin the sector's middle half▼ 1.9%€1.5mwithin the sector's middle half▲ 31.1%€1.5mwithin the sector's middle half▼ 0.9%€1.6mwithin the sector's middle half▲ 10.4%€1.5m▼ 8.6%
Debt€0.9m-€1.0m▲ 11.1%€1.0m▼ 7.3%€0.9m▼ 3.2%€1.3m▲ 37.5%€1.2m▼ 3.4%€1.4m▲ 10.6%€1.2m▼ 10.6%
Working capital€0.06m-€0.1m▲ 71.2%€0.1mwithin the sector's middle half▲ 23.0%€0.1mwithin the sector's middle half▼ 6.9%€0.01mwithin the sector's middle half▼ 91.9%€0.03mwithin the sector's middle half▲ 156%€0.04mwithin the sector's middle half▲ 70.8%€0.04m▼ 9.0%
Solvency13.6%-14.0%▲ 0.4pp16.0%below the sector's middle half▲ 2.0pp17.0%within the sector's middle half▲ 1.1pp13.0%below the sector's middle half▼ 4.0pp15.2%below the sector's middle half▲ 2.2pp15.1%within the sector's middle half▼ 0.1pp16.9%▲ 1.8pp
Current ratio1.31-1.35▲ 0.041.59within the sector's middle half▲ 0.241.48within the sector's middle half▼ 0.111.03within the sector's middle half▼ 0.461.06within the sector's middle half▲ 0.041.07within the sector's middle half▲ 0.011.08=
Return on assets (ROA)1.3%-1.8%▲ 0.5pp1.3%within the sector's middle half▼ 0.5pp0.7%within the sector's middle half▼ 0.5pp0.0%below the sector's middle half▼ 0.7pp2.1%within the sector's middle half▲ 2.0pp1.3%within the sector's middle half▼ 0.7pp0.4%▼ 0.9pp
Staff (FTE)7.1-9.8▲ 38.0%10.4within the sector's middle half▲ 6.1%8.9within the sector's middle half▼ 14.4%7.4within the sector's middle half▼ 16.9%8.4within the sector's middle half▲ 13.5%4.6within the sector's middle half▼ 45.2%1.6▼ 65.2%
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). 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 2026 is 44% lower than in 2025 and the lowest since 2023. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.5m
Fixed assets
€901,353 ▼ 5.2%
Current assets
€568,526 ▼ 13.6%
Equity and liabilities €1.5m
Equity
€248,318 ▲ 2.5%
Debt
€1.2m ▼ 10.6%
Debt's share of the balance-sheet total falls from 84.9% to 83.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€85,382▼
2025 · €124,149
Cash flow
€55,417▼
2025 · €81,328
Debt to equity
4.92▼
2025 · 5.64
ROE
2.4%▼
2025 · 8.7%
Interest coverage
3.15▼
2025 · 3.79
Debt ≤ 1 year
€528,571▼
2025 · €614,343
Debt > 1 year
€692,990▼
2025 · €752,367
Income taxes
€2,819▼
2025 · €10,116
Staff costs
€45,764▼
2025 · €107,986
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 10 | 9 | 18 | 2 | 5 |
| full-time | 3 | 3 | 1 | - | - |
| part-time | 7 | 6 | 17 | 2 | 5 |
| in full-time equivalents | 6.1 | 5.7 | 7.6 | 1 | 1.6 |
| Average over the year, in full-time equivalents | 8.9 | 7.4 | 8.4 | 4.6 | 1.6 |
| On a permanent contract | 7 | 6 | 5 | 1 | 1 |
| Joined | 55 | 66 | 52 | 25 | 18 |
| Left | 60 | 67 | 43 | 41 | 15 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | €966,030 | - | - | - |
| Mortgages, amount registered | €25,000 | €50,000 | €50,000 | - | - |
| Mortgage mandates | €755,000 | €1.0m | €1.0m | - | - |
| Carrying value of the mortgaged assets | €686,400 | €1.0m | €993,020 | - | - |
| Pledge on the business | €100,000 | €100,000 | €100,000 | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,892 | €393,111 | €5,648 | - | - |
| Depreciation and write-downs of the year | €47,819 | €67,602 | €61,952 | €60,309 | €49,377 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 2 entries · €352 awarded · €352 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €176 | €176 |
| 2023 | 1 | €176 | €176 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,132 | - | €248 | €1,157 | ▲ 367% |
| Remuneration, social security and pensions62 | - | - | - | €273,421 | €229,021 | €263,204 | €107,986 | €45,764 | ▼ 57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €97,450 | €53,225 | €49,700 | €47,819 | €67,602 | €61,952 | €60,309 | €49,377 | ▼ 18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €51,919 | - | - | - |
| Other operating charges640/8 | - | - | - | €3,059 | €2,748 | €91,108 | €4,119 | €1,281 | ▼ 68.9% |
| Gross operating margin9900 | €359,888 | €389,141 | €351,721 | €359,670 | €326,834 | €545,322 | €236,254 | €132,427 | ▼ 43.9% |
| Operating profit (loss)9901 | €28,875 | €45,205 | €40,437 | €35,372 | €27,463 | €77,139 | €63,840 | €36,005 | ▼ 43.6% |
| Financial income75/76B | - | - | - | €296 | €223 | €571 | €66 | - | - |
| Recurring financial income75 | €27 | €1,129 | €674 | €296 | €223 | €571 | €66 | - | - |
| Financial charges65/66B | - | - | - | €23,460 | €26,748 | €34,966 | €32,771 | €27,145 | ▼ 17.2% |
| Recurring financial charges65 | €8,995 | €17,794 | €21,303 | €23,460 | €26,748 | €34,966 | €32,771 | €27,145 | ▼ 17.2% |
| Profit (loss) for the period before taxes9903 | €19,907 | €28,540 | €19,808 | €12,207 | €938 | €42,743 | €31,135 | €8,860 | ▼ 71.5% |
| Income taxes67/77 | €5,539 | €7,085 | €5,300 | €3,802 | €560 | €12,836 | €10,116 | €2,819 | ▼ 72.1% |
| Profit (loss) for the period9904 | €14,368 | €21,455 | €14,508 | €8,406 | €378 | €29,907 | €21,019 | €6,041 | ▼ 71.3% |
| Profit (loss) for the period to be appropriated9905 | €14,368 | €21,455 | €14,508 | €8,406 | €378 | €29,907 | €21,019 | €6,041 | ▼ 71.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.2m | €1.1m | €1.1m | €1.5m | €1.5m | €1.6m | €1.5m | ▼ 8.6% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.8m | €0.7m | €1.1m | €1.0m | €1.0m | €0.9m | ▼ 5.2% |
| Intangible fixed assets21 | €0.002m | €0.002m | €0.001m | €0.001m | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.8m | €0.8m | €0.8m | €0.7m | €1.1m | €1.0m | €1.0m | €0.9m | ▼ 5.2% |
| Land and buildings22 | - | - | - | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 5.3% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.03m | €0.02m | €0.005m | €0.003m | ▼ 44.9% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.002m | €0.001m | €125 | - | - |
| Other tangible fixed assets26 | - | - | - | - | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 4.5% |
| Assets under construction and advance payments27 | - | - | - | €0.02m | - | - | - | - | - |
| Current assets29/58 | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.7m | €0.6m | ▼ 13.6% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.01m | €0.01m | - | - | - |
| Other amounts receivable291 | - | - | - | - | €0.01m | €0.01m | - | - | - |
| Stocks and contracts in progress3 | €0.01m | €0.007m | €0.009m | €0.009m | €0.01m | €0.009m | - | - | - |
| Stocks30/36 | - | - | - | €0.009m | €0.01m | €0.009m | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.6m | €0.5m | ▼ 9.5% |
| Trade receivables40 | - | - | - | €0.3m | €0.3m | €0.2m | €0.1m | €0.09m | ▼ 15.0% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.03m | €0.2m | €0.5m | €0.4m | ▼ 8.3% |
| Cash at bank and in hand54/58 | €0.04m | €0.06m | €0.06m | €0.03m | €0.02m | €0.03m | €0.06m | €0.03m | ▼ 54.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.001m | - | - | €0.001m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.2m | €1.1m | €1.1m | €1.5m | €1.5m | €1.6m | €1.5m | ▼ 8.6% |
| Equity10/15 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 2.5% |
| Contributions10/11 | €0.009m | - | - | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | = |
| Reserves13 | €0.07m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 2.6% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 2.6% |
| Profit (loss) carried forward14 | €0.07m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.9m | €1.0m | €1.0m | €0.9m | €1.3m | €1.2m | €1.4m | €1.2m | ▼ 10.6% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.7m | €0.7m | €0.9m | €0.8m | €0.8m | €0.7m | ▼ 7.9% |
| Financial debts170/4 | - | - | - | €0.7m | €0.9m | €0.8m | €0.8m | €0.7m | ▼ 7.9% |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.2m | €0.3m | €0.4m | €0.4m | €0.6m | €0.5m | ▼ 14.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.08m | €0.07m | €0.06m | €0.06m | ▼ 5.9% |
| Trade debts44 | €0.05m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.03m | €0.09m | ▲ 235% |
| Suppliers440/4 | - | - | - | €0.1m | €0.2m | €0.1m | €0.03m | €0.09m | ▲ 235% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €0.002m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.04m | €0.04m | €0.02m | €0.02m | ▲ 8.6% |
| Taxes450/3 | - | - | - | €0.006m | €0.004m | €0.007m | €0.01m | €0.003m | ▼ 71.1% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.04m | €0.03m | €0.01m | €0.02m | ▲ 99.9% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.1m | €0.2m | €0.5m | €0.4m | ▼ 28.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,368 | €21,455 | €14,508 | €8,406 | €378 | €29,907 | €21,019 | €6,041 | ▼ 71.3% |
| + Depreciation and write-downs630 | €97,450 | €53,225 | €49,700 | €47,819 | €67,602 | €61,952 | €60,309 | €49,377 | ▼ 18.1% |
| Operating cash flow (approximation) | €111,818 | €74,680 | €64,209 | €56,224 | €67,980 | €91,859 | €81,328 | €55,417 | ▼ 31.9% |
| Investment in fixed assets (approximation) | - | -€27,483 | -€49,320 | -€2,892 | -€393,111 | -€5,648 | €0 | €0 | - |
| Change in cash | - | €19,788 | €2,374 | -€32,735 | -€11,419 | €13,207 | €27,643 | -€33,461 | - |
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, 3,984 companies had the same profile as GREG DE SCHUTTER has now. Two years later, 96.5% were still going and 1.1% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.5%
was still going
2.3%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of GREG DE SCHUTTER itself: 0.7% 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 3,984 companies, not a prediction for GREG DE SCHUTTER. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 30-10-2026 | 2026-00598902 | |
| 31-03-2025 | abbreviated format | 30-10-2025 | 2025-00559208 | |
| 31-03-2024 | abbreviated format | 30-10-2024 | 2024-00523067 | |
| 31-03-2023 | abbreviated format | 31-10-2023 | 2023-00505522 | |
| 31-03-2022 | abbreviated format | 31-10-2022 | 2022-20478054 | |
| 31-03-2021 | abbreviated format | 28-10-2021 | 2021-74600439 | |
| 31-03-2020 | abbreviated format | 30-09-2020 | 2020-58100216 | |
| 31-03-2019 | abbreviated format | 31-10-2019 | 2019-72600377 | |
| 31-03-2018 | abbreviated format | 17-10-2018 | 2018-69500339 | |
| 31-03-2017 | abbreviated format | 12-10-2017 | 2017-67100340 |