Equity
€1.1m from €7.6m in 2024
Equity fell by 85% in 1 year.
HUGO WAFELS-GAUFRES HUGO
Lifetime
20 annual accounts with figures on one time axis, 25 filings since 2001peak €2.2m (2024)
€1.8m▼ 20.6%
peak €789,236 (2024)
€506,367▼ 35.8%
peak €7.6m (2024)
€1.1m▼ 84.8%
€2.6m▲ 245%
peak 17.8 FTE (2024)
15 FTE▼ 15.7%
Board10 names since 2020
-
Owners2 names in the annual accounts
consolidatesPOLCAF
Documentsfilings and deeds
09-07-202622 days before the deadline
2025financial year
Gross margin from €2.2m to €1.8mResult from €789,236 to €506,367Staff from 17.8 FTE to 15 FTEDividend €6.9mEquity from €7.6m to €1.1mDebts from €756,423 to €2.6m
Key points
from the 2025 annual accountsTurnover
≈ €3.0m estimated
The accounts state no turnover.
Staff
16 employees on 31-12-2025
In 2025, 3 people joined and 4 left.
Liquidity
0.70 was 8.09 in 2024
Short-term debts rose from €756,423 to €2.6m.
Filings
25 annual accounts since 2001
Seven of the last ten came late. The 2019 accounts came latest: 75 days after the end of the period.
Board
1 joined · 2 left
Board changed. Latest change 05-06-2026 · 1 in office.
Checked score
82
Excellent
Financially stronger than 35% of small companies in food products (NACE 10)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 632 companies (NACE 10, small).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025highest value
08-2025: 0.2%▼ -0.2 percentage points vs 07-2025lowest value
09-2025: 0.2%● unchanged vs 08-2025lowest value
10-2025: 0.2%● unchanged vs 09-2025lowest value
11-2025: 0.2%● unchanged vs 10-2025lowest value
12-2025: 0.2%● unchanged vs 11-2025lowest value
01-2026: 0.2%● unchanged vs 12-2025lowest value
02-2026: 0.2%● unchanged vs 01-2026lowest value
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.4%▲ +0.2 percentage points vs 07-2026
09-2026: 0.4%● unchanged vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.70, cash €184
Sector: Manufacture of food products (NACE 10)
lowers risk
Founded in 2001
Size: 15 FTE, total assets €3.8m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 10, small). It does better than 44% of them on solvency, 7% on liquidity, 84% on profitability and 5% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as HUGO WAFELS-GAUFRES HUGO has now. Each dot stands for 51 companies, two years later.
95.0%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of HUGO WAFELS-GAUFRES HUGO itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 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 20,137 companies, not a prediction for HUGO WAFELS-GAUFRES HUGO. 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.
Credit verdict
Credit of up to €90,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.7 (8.09 in 2024), below 1. Short-term debt is 69.4% and cash 0% of total assets. 69.4% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 days early
2024
23 days early
2023
1 day late
2022
24 days late
2021
31 days late
2020
9 days early
2019
75 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 11 days after the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 2 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- POLCAF 100%equity €182.2m (2025) · 2025 annual accounts of POLCAF
- SOFARDI 100%equity €8.6m (2025) · 2023 annual accounts of SOFARDI
Recent changes
1 statutory auditor appointed, 1 director appointed, 2 resignations
Resignations: Patrick Reekmans Consulting SRL and Mederic Commeine (day-to-day manager) · Permanent representative: Inge Demeyere · Appointments: Callens Vandelanotte (statutory auditor) and Beau Noir SRL · General meeting of 04-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0473743050
New statutory auditor
Callens Vandelanotte SA appointed, DERYCKE,CATRY & CO SRL resigned · Director discharge: DERYCKE,CATRY & CO SRL · General meeting of 24-11-2023 · Gazette deed
1 director appointed
Changes of role: Popelier Antony, Castelein Frans and PATRICK REEKMANS CONSULTING · Appointment: Commeine Mederic (managing director) · Permanent representative: Reekmans Patrick · General meeting of 09-10-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| HUGO WAFELS-GAUFRES HUGO Tubize | €3.8m | €1.8m | 30.6% | 15 |
| DIMABEL Ypres | €5.9m | €1.5m | 37.7% | 19.9 |
| DE REZE BISCUIT-CHOCOLATE Beringen | €2.8m | €2.0m | 64.0% | 19 |
| MAISON NOIRHOMME Charleroi | €2.9m | €0.9m | 0.8% | 17.5 |
| PINSON BISCUITERIE Veurne | €5.2m | €2.0m | 21.4% | 22.7 |
| DIDESS Lille | €3.1m | €2.2m | 14.2% | 34.1 |
| GALETTES DE LUC Houyet | €3.8m | €2.4m | 70.3% | 25.3 |
These companies have the same main activity as HUGO WAFELS-GAUFRES HUGO: manufacture of rusks, biscuits and preserved pastry goods (NACE 10720). They are comparable in size and age: total assets between €2.8m and €5.9m, founded between 1987 and 2011.
Official details
Source: KBO- Status
- Active since 08-01-2001Normal situation
- Activity
- Manufacture of rusks, biscuits and preserved pastry goodsNACE 10720and 2 others
- Joint committees
- 118Food industry
- 201Independent retail · annual accounts 2025
- Establishment unit
- 2.100.215.6901480 Tubize, since 04-04-2001
- Financial year end
- 31 December
- Peppol
- Reachable since 02-02-2026
Annual accounts 2025
- €3.8m▼ 54.8%
- Employeeson 31-12-2025
- 16▼ 5.9%
- Filing
- Filed on 09-07-2026, 22 days before the end of the filing period
Insights on HUGO WAFELS-GAUFRES HUGO
HUGO WAFELS-GAUFRES HUGO has existed since 2001. The gross margin grew from €746,478 in 2006 to €1.8m in 2025.
Solvency fell in 2025 from 90.9% to 30.6% because of the dividend.
POLCAF holds all the shares. In November 2023, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about HUGO WAFELS-GAUFRES HUGO
- What is the company number of HUGO WAFELS-GAUFRES HUGO?
- The company number of HUGO WAFELS-GAUFRES HUGO is 0473.743.050. The VAT number is the same number with BE in front: BE 0473.743.050.
- Where is HUGO WAFELS-GAUFRES HUGO based?
- The registered office is at Rue de l'Atelier 6, 1480 Tubize.Company details
- What does HUGO WAFELS-GAUFRES HUGO do?
- According to the KBO register, the main activity is manufacture of rusks, biscuits and preserved pastry goods (NACE 10720).
- What is the legal form of HUGO WAFELS-GAUFRES HUGO?
- HUGO WAFELS-GAUFRES HUGO is a public limited company (NV).
- When was HUGO WAFELS-GAUFRES HUGO founded?
- HUGO WAFELS-GAUFRES HUGO was founded on 08-01-2001.
- Is HUGO WAFELS-GAUFRES HUGO still active?
- Yes, HUGO WAFELS-GAUFRES HUGO is an active enterprise in the KBO register.
- How many employees does HUGO WAFELS-GAUFRES HUGO have?
- HUGO WAFELS-GAUFRES HUGO had an average of 15 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does HUGO WAFELS-GAUFRES HUGO fall under?
- In its 2025 annual accounts, HUGO WAFELS-GAUFRES HUGO states joint committees 118 (Food industry) and 201 (Independent retail).
- What is the turnover of HUGO WAFELS-GAUFRES HUGO?
- The turnover in financial year 2025 is ≈ €3.0m. This figure is estimated from the gross margin of €1.8m and 1,586 comparable companies of the same size. It probably lies between €2.1m and €5.0m. It is a rough estimate.
- Is HUGO WAFELS-GAUFRES HUGO profitable?
- In financial year 2025, HUGO WAFELS-GAUFRES HUGO made a profit of €506,367.
- Where can I find the annual accounts of HUGO WAFELS-GAUFRES HUGO?
- HUGO WAFELS-GAUFRES HUGO filed 25 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of HUGO WAFELS-GAUFRES HUGO due?
- HUGO WAFELS-GAUFRES HUGO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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