Kandu
ActiveThe computed 12-month bankruptcy probability of Kandu is 3.0% (moderate). The 2025 annual accounts show negative equity (€-111k) and a net result of €-77k. Equity is shrinking by ~219.1% per year across the filed fiscal years. Its solvency ranks better than 6% of 237 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
28
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency0▼-17
Growth32▼-26
Track record94
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 5.04 against 0.77 in 2024; short-term debt: 9.5% and cash: 1% of total assets), but equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · 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 2025Solvency, return and age of the figures
Solvency
-51.4%
Return on assets
-35.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Sector 31
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year €-111k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 filingsDeviation from the deadline
2025
27 d late
2024
7 d early
2023
22 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-111k▼ 247%
2024 · €-32k
2023: €33k
2024: €-32k
2023 → 2025
Total assets
€215k▼ 42.9%
2024 · €377k
2023: €326k
2024: €377k
2023 → 2025
Net result
€-77k▼ 22.4%
2024 · €-63k
2023: €-73k
2024: €-63k
2023 → 2025
Working capital
€83k
2024 · €-65k
2023: €-20k
2024: €-65k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€33k-€-32k€-111k▼ 247%
Operating result€-81k-€-56k▲ 30.5%€-70k▼ 24.3%
Net result€-73k-€-63k▲ 13.5%€-77k▼ 22.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €70k in 2025 against €56k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215k
Fixed assets
€112k▼ 28.9%
Current assets
€103k▼ 52.9%
Key figures and ratios
EBITDA
€-24k▼
2024 · €-13k
Cash flow
€-32k▼
2024 · €-21k
Solvency
-51.4%▼
2024 · -8.5%
Current ratio
5.04▲
2024 · 0.77
Quick ratio
0.33▼
2024 · 0.43
Debt / equity
-2.94▲
2024 · -12.81
ROA
-35.9%▼
2024 · -16.8%
Interest coverage
-2.55▼
2024 · -1.13
Debt
€326k▼
2024 · €409k
Debt ≤ 1 year
€20k▼
2024 · €284k
Debt > 1 year
€301k▲
2024 · €115k
Income taxes
€0▲
2024 · €-256
Staff costs
€0▲
2024 · €-123
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€377k€215k▼
Fixed assets21/28€158k€112k▼
Intangible fixed assets21€71k€50k▼
Tangible fixed assets22/27€86k€62k▼
Plant, machinery and equipment23€85k€61k▼
Furniture and vehicles24€885€562▼
Current assets29/58€219k€103k▼
Stocks and contracts in progress3€98k€96k▼
Stocks30/36€98k€96k▼
Amounts receivable within one year40/41€116k€1k▼
Trade receivables40€115k€0▼
Other amounts receivable41€1k€1k▼
Cash at bank and in hand54/58€2k€2k▲
Deferred charges and accrued income490/1€4k€4k=
Equity and liabilities
Total equity and liabilities10/49€377k€215k▼
Equity10/15€-32k€-111k▼
Contributions10/11€100k€100k=
Profit (loss) carried forward14€-136k€-214k▼
Investment grants15€4k€3k▼
Amounts payable17/49€409k€326k▼
Amounts payable after more than one year17€115k€301k▲
Financial debts170/4€115k€301k▲
Amounts payable within one year42/48€284k€20k▼
Financial debts43€100k€0▼
Other loans439€100k€0▼
Trade debts44€118k€20k▼
Suppliers440/4€118k€20k▼
Taxes, remuneration and social security45€600€0▼
Taxes450/3€600€0▼
Other amounts payable47/48€66k€170▼
Accrued charges and deferred income492/3€9k€5k▼
Income statement
Code20242025
Remuneration, social security and pensions62€-123€0▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€43k€46k▲
Other operating charges640/8€252€683▲
Gross operating margin9900€-13k€-23k▼
Operating profit (loss)9901€-56k€-70k▼
Financial income75/76B€5k€2k▼
Recurring financial income75€5k€2k▼
Financial charges65/66B€12k€9k▼
Recurring financial charges65€12k€9k▼
Profit (loss) for the period before taxes9903€-63k€-77k▼
Income taxes67/77€-256€0▲
Profit (loss) for the period9904€-63k€-77k▼
Profit (loss) for the period to be appropriated9905€-63k€-77k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-136k€-214k▼
Profit (loss) brought forward from the previous period14P€-73k€-136k▼
The notes to these accounts (13 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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet €-77k
Net result drops to €-77k, the lowest in the series.
31-12
Financial
Liquidity times 7current ratio 5.04
Current ratio from 0.77 to 5.04; short-term debt falls from €284k to €20k.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Kortrijk · 1 establishment unit since 2022
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.
Evolis(Kor) 1008500 KortrijkGround area
152 m²
Parcel 34353B0377/00L000, Flanders. Linked by address, not a title deed.
1 establishment unit
Kandu
since 20222.331.661.452
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34353B0377/00L000 | Flanders | 152 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 7,860 EUR awarded · 7,860 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 360 EUR | 360 EUR |
| 2023 | 1 | 0 EUR | 7,500 EUR |
| 2022 | 1 | 7,500 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 457 companies in sector 31009 we hold annual accounts for 124. 98 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-05-2022
Fiscal year end31-12
Activities, NACEBEL
31009Manufacture of furniture
31092Manufacture of furniture
31002Manufacture of furniture
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.