KERDI
ActiveSummary
The computed 12-month bankruptcy probability of KERDI is 2.1% (moderate). The 2025 annual accounts show equity of €25.0m and a net result of €97.4m. Equity is growing by ~5.4% per year across the filed fiscal years. The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+44
Solvency100=
Growth58▲+6
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,800,000 at 30 days acceptable
Liquidity short (current ratio 0.61 against 15.05 in 2024; short-term debt: 9.5% and cash: 0.1% of total assets), and 9.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
90.5%
Return on assets
352.2%
Age of the figures
9 mo
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 02-06-2026, 59 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
59 d early
2024
38 d early
2023
71 d early
2022
75 d early
2021
26 d early
2020
72 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 53 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
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. Usually files around 2 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€97.4m▲ 3,198%
2024 · €3.0m
Working capital
-€1.0m
2024 · €860,362
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,917▲ 71.7%-€16,408▼ 65.4%-€18,424▼ 12.3%-€45,372▼ 146%€95.1m
Net result€2.6m▲ 7.4%€2.7m▲ 5.5%€2.8m▲ 3.3%€3.0m▲ 6.1%€97.4m▲ 3,198%
Equity€35.3m▲ 7.8%€38.0m▲ 7.6%€40.0m▲ 5.2%€39.9m▼ 0.2%€25.0m▼ 37.4%
Total assets€40.6m▲ 1.9%€39.9m▼ 1.8%€40.1m▲ 0.4%€40.0m▼ 0.1%€27.7m▼ 30.8%
Debt€5.3m▼ 25.4%€1.9m▼ 64.4%€60,672▼ 96.8%€61,239▲ 0.9%€2.6m▲ 4,214%
Working capital€1.5m▲ 102%€764,857▼ 48.7%€920,653▲ 20.4%€860,362▼ 6.5%-€1.0m
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €95.1m after a loss of €45,372 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27.7m
Fixed assets
€26.1m ▼ 33.3%
Current assets
€1.6m ▲ 74.7%
Equity and liabilities €27.7m
Equity
€25.0m ▼ 37.4%
Debt
€2.6m ▲ 4,214%
Debt's share of the balance-sheet total rises from 0.2% to 9.5%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.61▼
2024 · 15.05
Debt to equity
0.11▲
2024 · 0.00
ROE
389.4%▲
2024 · 7.4%
ROA
352.2%▲
2024 · 7.4%
Debt ≤ 1 year
€2.6m▲
2024 · €61,239
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €95.1m | - |
| Other operating charges640/8 | €868 | €868 | €960 | €968 | €998 | ▲ 3.2% |
| Gross operating margin9900 | -€9,049 | -€15,540 | -€17,464 | -€44,404 | €95.1m | ▲ 214,330% |
| Operating profit (loss)9901 | -€9,917 | -€16,408 | -€18,424 | -€45,372 | €95.1m | ▲ 209,759% |
| Financial income75/76B | €2.6m | €2.7m | €2.8m | €3.0m | €2.3m | ▼ 22.8% |
| Recurring financial income75 | €2.6m | €2.7m | €2.8m | €3.0m | €2.3m | ▼ 22.8% |
| Financial charges65/66B | €544 | €626 | €1,152 | €1,192 | €1,014 | ▼ 14.9% |
| Recurring financial charges65 | €544 | €626 | €1,152 | €1,192 | €1,014 | ▼ 14.9% |
| Profit (loss) for the period before taxes9903 | €2.6m | €2.7m | €2.8m | €3.0m | €97.4m | ▲ 3,198% |
| Income taxes67/77 | -€1,204 | - | - | - | - | - |
| Profit (loss) for the period9904 | €2.6m | €2.7m | €2.8m | €3.0m | €97.4m | ▲ 3,198% |
| Profit (loss) for the period to be appropriated9905 | €2.6m | €2.7m | €2.8m | €3.0m | €97.4m | ▲ 3,198% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €40.6m | €39.9m | €40.1m | €40.0m | €27.7m | ▼ 30.8% |
| Fixed assets21/28 | €39.1m | €39.1m | €39.1m | €39.1m | €26.1m | ▼ 33.3% |
| Financial fixed assets28 | €39.1m | €39.1m | €39.1m | €39.1m | €26.1m | ▼ 33.3% |
| Current assets29/58 | €1.6m | €832,373 | €981,325 | €921,601 | €1.6m | ▲ 74.7% |
| Amounts receivable within one year40/41 | €768,893 | €813,472 | €841,271 | €900,382 | €1.6m | ▲ 77.2% |
| Other amounts receivable41 | €768,893 | €813,472 | €841,271 | €900,382 | €1.6m | ▲ 77.2% |
| Cash at bank and in hand54/58 | €783,352 | €18,900 | €140,054 | €21,219 | €13,950 | ▼ 34.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €185 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €40.6m | €39.9m | €40.1m | €40.0m | €27.7m | ▼ 30.8% |
| Equity10/15 | €35.3m | €38.0m | €40.0m | €39.9m | €25.0m | ▼ 37.4% |
| Contributions10/11 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Capital10 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Issued capital100 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Reserves13 | €35.0m | €37.7m | €39.7m | €39.6m | €24.7m | ▼ 37.6% |
| Non-distributable reserves130/1 | €86,750 | €86,750 | €86,750 | €86,750 | €86,750 | = |
| Legal reserve130 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves not available under the articles1311 | €56,750 | €56,750 | €56,750 | €56,750 | €56,750 | = |
| Distributable reserves133 | €34.9m | €37.6m | €39.6m | €39.6m | €24.6m | ▼ 37.7% |
| Amounts payable17/49 | €5.3m | €1.9m | €60,672 | €61,239 | €2.6m | ▲ 4,214% |
| Amounts payable after more than one year17 | €5.2m | €1.8m | - | - | - | - |
| Financial debts170/4 | €5.2m | €1.8m | - | - | - | - |
| Amounts payable within one year42/48 | €61,927 | €67,515 | €60,672 | €61,239 | €2.6m | ▲ 4,214% |
| Trade debts44 | €1,331 | €2,205 | €76 | €643 | €987 | ▲ 53.5% |
| Suppliers440/4 | €1,331 | €2,205 | €76 | €643 | €987 | ▲ 53.5% |
| Other amounts payable47/48 | €60,596 | €65,310 | €60,596 | €60,596 | €2.6m | ▲ 4,258% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.6m | €2.7m | €2.8m | €3.0m | €97.4m | ▲ 3,198% |
| Operating cash flow (approximation) | €2.6m | €2.7m | €2.8m | €3.0m | €97.4m | ▲ 3,198% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €13.0m | - |
| Change in cash | - | -€764,451 | €121,154 | -€118,835 | -€7,269 | ▲ 93.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2019net €97.4m ▲3,198%
Operating result €95.1m, net result €97.4m, both a record.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
17-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Liquidity doublescurrent ratio 25.07
Current ratio from 12.18 to 25.07; short-term debt falls from €65,887 to €61,927.
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €2.4m ▼41.2%
Net result drops to €2.4m, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 12.18
Current ratio from 3.23 to 12.18; short-term debt falls from €71,242 to €65,887.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Ukkel
Ground area
444 m²
Building footprint
149 m²
Volume, LiDAR
1,809 m³
Parcel 21612C0001/00N052, Brussels · tallest building 14.9 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0001/00N052 | Brussels | 444 m² | 1 · 149 m² | 14.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 owners · 3 holdingsOwners 2
-
17%
-
16.67%
Holdings 3
-
5.57%
-
4.15%
-
3.54%
According to the 2025 annual accounts of KERDI and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
222100XICSFJCTIVXH65
Identification & contact
Identification
Legal formPublic limited company
Founded19-11-2019
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.