Equity
€6.1m ▲ 9.1%
INAGRAS has made a profit without a break since 2009.
INAGRAS
Lifetime
18 annual accounts with figures on one time axis, 25 filings since 2000peak €11.8m (2016)
-not published
lowest -€2,825 (2008)
€510,774▲ 4.6%
peak €6.1m (2025)
€6.1m▲ 9.1%
€1.5m▼ 27.9%
peak 21.9 FTE (2014)
7.9 FTE▲ 71.7%
Board4 names since 2019
1 directorBV Cesebco
Owners3 names in the annual accounts
100%CESEBCO
Documentsfilings and deeds
31-07-2026on the last day
2025financial year
Gross margin from €1.4m to €1.2mStaff from 4.6 FTE to 7.9 FTEDebts from €2.1m to €1.5mCash from €1.2m to €2.4m
Key points
from the 2025 annual accountsTurnover
≈ €5.0m estimated
The accounts state no turnover.
Staff
7.9 FTE from 21.9 in 2014
Between 2014 and 2025, 64% of the full-time equivalents disappeared.
Filings
25 annual accounts 26 filings since 2000
Three of the last ten came late. The 2020 accounts came latest: 57 days after the end of the period.
At the same address
5 companies
Position in the sector
80.3%
Higher solvency than 85% of companies in wholesale trade. Sector median 45.2% · 6,191 companies.
Checked score
97
Excellent
Financially stronger than 77% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,892 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: 0.1%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: < 0.1%▼ -0.1 percentage points vs 08-2025lowest value
10-2025: < 0.1%● unchanged vs 09-2025lowest value
11-2025: < 0.1%● unchanged vs 10-2025lowest value
12-2025: < 0.1%● unchanged vs 11-2025lowest value
01-2026: < 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%▲ +0.1 percentage points vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026highest value
08-2026: < 0.1%▼ -0.1 percentage points vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 3.72, cash €2.4m
Size: 7.9 FTE, total assets €7.6m
Founded in 1998
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 46, micro). It does better than 90% of them on solvency, 86% on liquidity, 67% on profitability and 63% 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, 31,368 companies had the same profile as INAGRAS has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of INAGRAS itself: < 0.1% 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 31,368 companies, not a prediction for INAGRAS. 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 €550,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.72 (3.26 in 2024), above the usual 1.5. Short-term debt is 16.4% and cash 31.7% of total assets. 19.7% 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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
23 days late
2021
30 days late
2021
56 days late
2020
57 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 24 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% 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 1 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
Recent changes
Environmental permit granted
Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen, Een grond gebruiken, aanleggen of inrichten, Nieuwbouw of aanleggen and 4 more · Gent
Registered office moved from Wingene to Mariakerke
New registered office: Industrieweg 172, 9030 Mariakerke · Previous registered office: Industriestraat 8A, 8755 Wingene · Permanent representative: Celine Van Rijckeghem · General meeting of 09-01-2026 · Gazette deed
New establishment in Wingene
Disaghor, Industriestraat 13B
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| INAGRAS Ghent | €7.6m | €1.2m | 80.3% | 7.9 |
| AERTS Lommel | €4.8m | €1.1m | 61.6% | 6.8 |
| COLSAN Courcelles | €5.4m | €1.0m | 22.2% | 9.6 |
| BBCA BELGIUM Willebroek | €17.6m | €1.3m | 20.0% | 7.6 |
| SENTINALCO Tournai | €3.0m | €1.3m | 33.1% | 7.2 |
| JANSSENS SMEETS Grobbendonk | €4.5m | €1.8m | 94.0% | 12.6 |
| ROPAMATE INTERNATIONAL Beerse | €3.9m | €1.8m | 42.4% | 11.4 |
These companies have the same main activity as INAGRAS: wholesale of industrial chemicals (NACE 46851). They are comparable in size and age: total assets between €3m and €18m, founded between 1993 and 2004.
Official details
Source: KBO- Status
- Active since 29-12-1998Normal situation
- Activity
- Wholesale of industrial chemicalsNACE 46851and 2 others
- Joint committees
- 119Food trade
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.089.903.5039030 Ghent, since 31-12-1998
- 2.170.411.2263740 Bilzen-Hoeselt, since 01-03-2008and 2 others
- Financial year end
- 31 December
- Peppol
- Reachable since 10-12-2025
Annual accounts 2025
- €7.6m▼ 0.9%
- Employeeson 31-12-2025
- 4=
- Filing
- Filed on 31-07-2026, on the last day of the filing period
Insights on INAGRAS
Solvency rose in 2025 from 72.9% to 80.3% because of the retained profit and lower debts.
CESEBCO holds all the shares.
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 INAGRAS
- What is the company number of INAGRAS?
- The company number of INAGRAS is 0464.814.102. The VAT number is the same number with BE in front: BE 0464.814.102.
- Where is INAGRAS based?
- The registered office is at Industrieweg 172, 9030 Ghent.Company details
- What does INAGRAS do?
- According to the KBO register, the main activity is wholesale of industrial chemicals (NACE 46851).
- What is the legal form of INAGRAS?
- INAGRAS is a public limited company (NV).
- When was INAGRAS founded?
- INAGRAS was founded on 29-12-1998.
- Is INAGRAS still active?
- Yes, INAGRAS is an active enterprise in the KBO register.
- How many employees does INAGRAS have?
- INAGRAS had an average of 7.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does INAGRAS fall under?
- In its 2025 annual accounts, INAGRAS states joint committees 119 (Food trade) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of INAGRAS?
- The turnover in financial year 2025 is ≈ €5.0m. This figure is estimated from the gross margin of €1.2m and 98 comparable companies (NACE 46). It probably lies between €3.0m and €8.5m. In financial year 2023 turnover was €11.0m.
- Is INAGRAS profitable?
- In financial year 2025, INAGRAS made a profit of €510,774.
- Where can I find the annual accounts of INAGRAS?
- INAGRAS filed 26 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of INAGRAS due?
- INAGRAS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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