Checked.be
Active
BE 0452.120.166Public limited company
KERGER
Van Cauwenberghelaan(HN) 23D ·1540 Pajottegem, Belgium· 32 yrs active
Sector: Floor and wall tiling
(43331)
Conclusion
KERGER has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €974k and a net result of €72k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 66% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €974k |
| Net result | €72k |
| Staff (FTE) | 5.7 |
| Better than sector | 66% |
Financial profile
75
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
37
Solvency
98
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1994, 32 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€85k
estimate, not credit advice
Score history
83
2022
94
2023
86
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 3.92 (≥ 1.5)
+10
Quick ratio
Quick ratio 3.09 (≥ 1.0)
+5
Leverage
Debt/equity 0.73 (< 1.0)
+10
Profitability
ROE 7%
+3
Interest coverage
Interest coverage 8.8× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-01-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~11%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 57.7% | 44.0% | |
| Net result | €72k | €30k | |
| Equity | €974k | €276k | |
| Gross operating margin | €569k | €275k | |
| Staff costs | €372k | €244k |
€193k
-34.7%
22-25
€72k
-55.2%
22-25
€133k
-37.9%
22-25
€1.69M
-8.6%
22-25
€974k
+8.0%
22-25
€1.14M
+7.5%
22-25
6
+16.3%
22-25
€372k
+26.0%
22-25
€43k
-30.1%
22-25
€0
-100.0%
22-25
€714k
-24.5%
22-25
€391k
-34.9%
22-25
€309k
-6.1%
22-25
3.92
+41.5%
22-25
3.09
+38.4%
22-25
57.7%
+18.2%
22-25
0.73
-30.1%
22-25
7.4%
-58.5%
22-25
4.3%
-50.9%
22-25
8.75
-35.0%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €193k | €296k | €501k | €176k |
| Net profit | €72k | €161k | €326k | €94k |
| Cash flow | €133k | €214k | €376k | €138k |
| Staff costs | €372k | €295k | €297k | €264k |
| Income taxes | €43k | €61k | €101k | €12k |
| Dividends | €0 | €100k | €75k | €75k |
| Total assets | €1.69M | €1.85M | €1.82M | €1.93M |
| Equity | €974k | €902k | €840k | €617k |
| Debt | €714k | €945k | €980k | €1.31M |
| of which ≤ 1y | €391k | €600k | €556k | €840k |
| of which > 1y | €309k | €329k | €405k | €454k |
| Working capital | €1.14M | €1.06M | €1.05M | €872k |
| Employees (FTE) | 5.7 | 4.9 | 4.7 | 5.5 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 3.92 | 2.77 | 2.89 | 2.04 |
| Quick ratio | 3.09 | 2.23 | 2.25 | 1.59 |
| Working capital ratio | 67.6% | 57.5% | 57.6% | 45.2% |
| Solvency | 57.7% | 48.8% | 46.2% | 32.0% |
| Debt / equity | 0.73 | 1.05 | 1.17 | 2.13 |
| Long-term debt ratio | 0.32 | 0.36 | 0.48 | 0.74 |
| Interest coverage | 8.75 | 13.46 | 20.80 | 6.36 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 4.3% | 8.7% | 17.9% | 4.9% |
| ROE | 7.4% | 17.9% | 38.8% | 15.3% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €1.69M | €1.85M | €1.82M | €1.93M |
| Fixed assets | 21/28 | €156k | €185k | €215k | €217k |
| Tangible fixed assets | 22/27 | €156k | €185k | €215k | €217k |
| Current assets | 29/58 | €1.53M | €1.66M | €1.61M | €1.71M |
| Stocks & contracts in progress | 3 | €324k | €322k | €352k | €374k |
| Amounts receivable within one year | 40/41 | €647k | €658k | €506k | €504k |
| Cash & bank | 54/58 | €550k | €672k | €739k | €825k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.69M | €1.85M | €1.82M | €1.93M |
| Equity | 10/15 | €974k | €902k | €840k | €617k |
| Contributions / capital | 10/11 | €75k | €75k | €75k | €75k |
| Reserves | 13 | €899k | €827k | €470k | €470k |
| Accumulated profits (losses) | 14 | €390 | €45 | €296k | €72k |
| Amounts payable | 17/49 | €714k | €945k | €980k | €1.31M |
| Amounts payable after one year | 17 | €309k | €329k | €405k | €454k |
| Amounts payable within one year | 42/48 | €391k | €600k | €556k | €840k |
| Trade debts payable within one year | 44 | €304k | €383k | €267k | €629k |
| Income statement | |||||
| Gross operating margin | 9900 | €569k | €595k | €806k | €443k |
| Operating result | 9901 | €133k | €243k | €451k | €132k |
| Financial income | 75 | €4k | €1k | €636 | €2k |
| Financial charges | 65 | €22k | €22k | €24k | €28k |
| Result before taxes | 9903 | €115k | €222k | €427k | €107k |
| Income taxes | 67/77 | €43k | €61k | €101k | €12k |
| Net result for the period | 9904 | €72k | €161k | €326k | €94k |
| Result to be appropriated | 9905 | €72k | €161k | €326k | €94k |
Legal Structure
| NACE primary | Floor and wall tiling(43331) |
| Legal form | Public limited company(014) |
| Incorporation | 09-02-1994 |
| Status | Active |
| Postal code | 1540 |
Establishment units
Van Cauwenberghelaan(HN) 23D, 1540 Pajottegem
since 19942.066.062.584
Handelslaan(P.E) 3, 7850 Enghien
since 19942.066.062.683
Real-estate footprint
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55033D0020/00N000 | Wallonia | 2,830 m² | 1 · 985 m² | 7.4 m · 2 fl. |
| 23032D0065/00L000 | Flanders | 861 m² | 1 · 129 m² | 7.7 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet €72k ▼55.2%
Net result drops to €72k, the lowest in the series.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2022net €326k ▲246%
Operating result €451k, net result €326k, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 11 days late
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Floor and wall tiling43331
Names & trade names
| Legal nameNL | KERGER |
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