Honest Sweater

Active

Public limited companyfounded 20215 yrs activeVuurgatstraat 14, 3090 Overijse, BelgiumKBO/BCE: BE 0762.958.151

The computed 12-month bankruptcy probability of Honest Sweater is 1.6% (moderate). The 2024 annual accounts show equity of €51k and a net result of €-816. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 31% of 15868 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

60 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability48▼-24

Solvency40▲+4

Growth78=

Track record94

Bankruptcy probability, 12 months

1.6% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €3k at 30 days acceptable

Liquidity ample (current ratio 6.91 against 4.57 in 2023; short-term debt: 14.2% of total assets), but 85.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

14.7%

Return on assets

-0.2%

Age of the figures

21 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

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 →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-09-2025, 49 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 · 3 filings

Deviation from the deadline

2025

not confirmed

2024

49 d late

2023

144 d late

2022

113 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Turnover

€372k

EBIT margin

-14.2%

Net result

€-816

2023 · €12k

2022: €-60k 2023: €12k

2022 → 2024

Working capital

€294k▼ 17.9%

2023 · €358k

2022: €340k 2023: €358k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Turnover€372k-

Equity€40k-€52k▲ 31.0%€51k▼ 1.6%

Operating result€-53k-€15k€355▼ 97.6%

Net result€-60k-€12k€-816

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 98% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €349k

98.3%

Fixed assets €6k▼ 38.9%

Current assets €343k▼ 25.1%

Equity and liabilities €349k

14.7%

85.3%

Equity €51k▼ 1.6%

Debt €298k▼ 28.3%

The debt ratio falls from 88.8% to 85.3%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€4k▼

2023 · €19k

Cash flow

€3k▼

2023 · €17k

Solvency

14.7%▲

2023 · 11.2%

Current ratio

6.91▲

2023 · 4.57

Quick ratio

0.90▲

2023 · 0.71

Debt / equity

5.79▼

2023 · 7.95

ROE

-1.6%▼

2023 · 23.6%

ROA

-0.2%▼

2023 · 2.6%

Interest coverage

3.60▼

2023 · 8.71

Debt

€298k▼

2023 · €416k

Debt ≤ 1 year

€50k▼

2023 · €100k

Debt > 1 year

€248k▼

2023 · €315k

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€468k€349k▼

Fixed assets21/28€10k€6k▼

Intangible fixed assets21€10k€6k▼

Tangible fixed assets22/27€133€0▼

Plant, machinery and equipment23€133€0▼

Current assets29/58€458k€343k▼

Stocks and contracts in progress3€387k€299k▼

Stocks30/36€387k€299k▼

Amounts receivable within one year40/41€61k€45k▼

Trade receivables40€61k€44k▼

Other amounts receivable41-€257

Cash at bank and in hand54/58€9k-

Deferred charges and accrued income490/1€419-

Equity and liabilities

Total equity and liabilities10/49€468k€349k▼

Equity10/15€52k€51k▼

Contributions10/11€100k€100k=

Profit (loss) carried forward14€-48k€-49k▼

Amounts payable17/49€416k€298k▼

Amounts payable after more than one year17€315k€248k▼

Financial debts170/4€34k-

Other amounts payable178/9€282k€248k▼

Amounts payable within one year42/48€100k€50k▼

Current portion of amounts payable after more than one year42€57k€37k▼

Trade debts44€42k€13k▼

Suppliers440/4€42k€13k▼

Taxes, remuneration and social security45€1k-

Taxes450/3€1k-

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€63-

Non-recurring operating charges66A€5k€14k▲

Gross operating margin9900€24k€18k▼

Operating profit (loss)9901€15k€355▼

Financial charges65/66B€2k€1k▼

Recurring financial charges65€2k€1k▼

Profit (loss) for the period before taxes9903€12k€-816▼

Profit (loss) for the period9904€12k€-816▼

Profit (loss) for the period to be appropriated9905€12k€-816▼

Appropriation of the result

Profit (loss) to be appropriated9906€-48k€-49k▼

Profit (loss) brought forward from the previous period14P€-60k€-48k▲

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 4Financial 1Filings 3

2025

18-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 49 days late

2024

22-12

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 144 days late

2023

31-12

Financial Back to profitnet €12k

Net result €12k after one loss-making year.

21-11

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 113 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

14-10-2025 David Dragutin: Resigned as Director

21-05-2024 Cédric LAMBRECHTS: Resigned as Director

Location & real-estate footprint

Registered office, Overijse · 1 establishment unit since 2021

establishment The establishment unit on the map

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.

Vuurgatstraat 143090 Overijse

Ground area

8,463 m²

Building footprint

1,839 m²