KERTODEC
ActiveKERTODEC has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €14k and a net result of €3k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 70% of 343 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +39 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+64
Solvency91▲+25
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 1.62 against 0.68 in 2024), and 32.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Sector 23
lower
← fewer bankruptcies
more bankruptcies →
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
67.8%
Return on assets
16%
Age of the figures
8 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €14k
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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
44 d early
2023
42 d early
2022
49 d early
2021
38 d early
2020
45 d early
2019
36 d early
← 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€14k▲ 30.7%
2024 · €11k
2018: €15k
2019: €16k
2020: €10k
2021: €4k
2022: €2k
2023: €10k
2024: €11k
2018 → 2025
Total assets
€21k▼ 2.7%
2024 · €22k
2018: €23k
2019: €16k
2020: €12k
2021: €7k
2022: €5k
2023: €23k
2024: €22k
2018 → 2025
Net result
€3k▲ 325%
2024 · €797
2018: €915
2019: €569
2020: €-6k
2021: €-6k
2022: €-2k
2023: €8k
2024: €797
2018 → 2025
Working capital
€4k
2024 · €-3k
2018: €8k
2019: €13k
2020: €10k
2021: €4k
2022: €2k
2023: €-8k
2024: €-3k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€4k-€2k▼ 47.4%€10k▲ 409%€11k▲ 7.8%€14k▲ 30.7%
Operating result€-6k-€-2k▲ 72.5%€8k€863▼ 89.6%€3k▲ 302%
Net result€-6k-€-2k▲ 71.9%€8k€797▼ 90.3%€3k▲ 325%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 302% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €21k
Fixed assets
€10k▼ 29.5%
Current assets
€11k▲ 49.7%
Equity and liabilities €21k
Equity
€14k▲ 30.7%
Debt
€7k▼ 36.8%
The debt ratio falls from 49.5% to 32.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€8k▲
2024 · €5k
Cash flow
€8k▲
2024 · €5k
Solvency
67.8%▲
2024 · 50.5%
Current ratio
1.62▲
2024 · 0.68
Quick ratio
1.57▲
2024 · 0.66
Debt / equity
0.47▼
2024 · 0.98
ROE
23.5%▲
2024 · 7.2%
ROA
16.0%▲
2024 · 3.6%
Interest coverage
96.60▲
2024 · 76.33
Debt
€7k▼
2024 · €11k
Debt ≤ 1 year
€7k▼
2024 · €11k
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€22k€21k▼
Fixed assets21/28€14k€10k▼
Tangible fixed assets22/27€14k€10k▼
Furniture and vehicles24€14k€10k▼
Current assets29/58€7k€11k▲
Stocks and contracts in progress3€260€300▲
Stocks30/36€260€300▲
Amounts receivable within one year40/41€3k€7k▲
Trade receivables40€3k€7k▲
Cash at bank and in hand54/58€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€22k€21k▼
Equity10/15€11k€14k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-9k€-6k▲
Amounts payable17/49€11k€7k▼
Amounts payable within one year42/48€11k€7k▼
Trade debts44€2k€51▼
Suppliers440/4€2k€51▼
Taxes, remuneration and social security45€755€756▲
Taxes450/3€755€756▲
Other amounts payable47/48€8k€6k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k=
Other operating charges640/8€651€670▲
Gross operating margin9900€6k€8k▲
Operating profit (loss)9901€863€3k▲
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€67€80▲
Recurring financial charges65€67€80▲
Profit (loss) for the period before taxes9903€797€3k▲
Profit (loss) for the period9904€797€3k▲
Profit (loss) for the period to be appropriated9905€797€3k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-9k€-6k▲
Profit (loss) brought forward from the previous period14P€-10k€-9k▲
The notes to these accounts (4 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
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity doublescurrent ratio 1.62
Current ratio from 0.68 to 1.62; short-term debt falls from €11k to €7k.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €8k
Net result €8k after 3 loss-making years.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 22current ratio 46.41
Current ratio from 2.09 to 46.41; short-term debt falls from €7k to €278.
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Brasschaat · 1 establishment unit since 1989
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.
Miksebeekstraat 1252930 BrasschaatGround area
7,455 m²
Building footprint
90 m²
Parcel 11324D0306/00M007, Flanders. Linked by address, not a title deed.
1 establishment unit
KERTODEC
since 19892.045.550.252
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11324D0306/00M007 | Flanders | 7,455 m² | 1 · 90 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.
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BE 0401.589.304
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Société anonyme WAUTERS NV
BE 0431.203.008
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TERRA PRODUCTS
BE 0431.451.050
Maldegem · Eq €108k
Of 103 companies in sector 23322 we hold annual accounts for 16. 5 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-10-1989
Fiscal year end31-12
Activities, NACEBEL
23322Manufacture of other non-metallic mineral products
26403
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.