KETTLEWELL
ActiveSummary
KETTLEWELL has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12,987 and a net result of €71,880. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 7% of 12788 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+3
Solvency28▼-5
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.29 against 0.32 in 2024; short-term debt: 28.5% and cash: 8.3% of total assets), and 97.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
2.6%
Return on assets
14.6%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 12788 sector peers (2025).
NBB · sector comparisonPosition among 12788 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-01-2026, 27 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
27 d early
2024
35 d early
2023
32 d early
2022
21 d early
2021
13 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 26 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€12,987▼ 68.4%
2024 · €41,108
Total assets
€491,291▼ 4.1%
2024 · €512,247
Net result
€71,880▲ 18.0%
2024 · €60,922
Working capital
-€98,822▼ 25.8%
2024 · -€78,563
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€39,923-€43,207▲ 8.2%€69,182▲ 60.1%€84,610▲ 22.3%€104,464▲ 23.5%
Net result€31,752within the sector's middle half-€33,477within the sector's middle half▲ 5.4%€47,604within the sector's middle half▲ 42.2%€60,922within the sector's middle half▲ 28.0%€71,880within the sector's middle half▲ 18.0%
Equity€36,752within the sector's middle half-€70,229within the sector's middle half▲ 91.1%€117,833within the sector's middle half▲ 67.8%€41,108within the sector's middle half▼ 65.1%€12,987below the sector's middle half▼ 68.4%
Total assets€52,153below the sector's middle half-€528,863above the sector's middle half▲ 914%€531,072above the sector's middle half▲ 0.4%€512,247above the sector's middle half▼ 3.5%€491,291above the sector's middle half▼ 4.1%
Debt€15,401-€458,634▲ 2,878%€413,239▼ 9.9%€471,139▲ 14.0%€478,303▲ 1.5%
Working capital€36,752--€51,229-€4,957▲ 90.3%-€78,563▼ 1,485%-€98,822▼ 25.8%
Solvency70.5%within the sector's middle half-13.3%below the sector's middle half▼ 57.2pp22.2%below the sector's middle half▲ 8.9pp8.0%below the sector's middle half▼ 14.2pp2.6%below the sector's middle half▼ 5.4pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 23% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €491,291
Fixed assets
€450,120 ▼ 5.4%
Current assets
€41,170 ▲ 12.4%
Equity and liabilities €491,291
Equity
€12,987 ▼ 68.4%
Debt
€478,303 ▲ 1.5%
Debt's share of the balance-sheet total rises from 92.0% to 97.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€129,972▲
2024 · €110,272
Cash flow
€97,388▲
2024 · €86,585
Current ratio
0.29▼
2024 · 0.32
Debt to equity
36.83▲
2024 · 11.46
ROE
553.5%▲
2024 · 148.2%
ROA
14.6%▲
2024 · 11.9%
Interest coverage
14.66▲
2024 · 13.20
Debt ≤ 1 year
€139,992▲
2024 · €115,182
Debt > 1 year
€338,311▼
2024 · €355,957
Income taxes
€24,000▲
2024 · €15,331
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 875 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.1%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 875 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €2,532 | €24,312 | €25,663 | €25,508 | ▼ 0.6% |
| Other operating charges640/8 | - | - | - | €2,663 | €2,758 | ▲ 3.6% |
| Gross operating margin9900 | €39,923 | €45,739 | €93,494 | €112,935 | €132,729 | ▲ 17.5% |
| Operating profit (loss)9901 | €39,923 | €43,207 | €69,182 | €84,610 | €104,464 | ▲ 23.5% |
| Financial income75/76B | - | - | €0 | - | €282 | - |
| Recurring financial income75 | €94 | - | €0 | - | €282 | - |
| Financial charges65/66B | - | €1,328 | €9,553 | €8,357 | €8,866 | ▲ 6.1% |
| Recurring financial charges65 | €310 | €1,328 | €9,553 | €8,357 | €8,866 | ▲ 6.1% |
| Profit (loss) for the period before taxes9903 | €39,707 | €41,879 | €59,629 | €76,253 | €95,880 | ▲ 25.7% |
| Income taxes67/77 | €7,955 | €8,402 | €12,026 | €15,331 | €24,000 | ▲ 56.5% |
| Profit (loss) for the period9904 | €31,752 | €33,477 | €47,604 | €60,922 | €71,880 | ▲ 18.0% |
| Profit (loss) for the period to be appropriated9905 | €31,752 | €33,477 | €47,604 | €60,922 | €71,880 | ▲ 18.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €52,153 | €528,863 | €531,072 | €512,247 | €491,291 | ▼ 4.1% |
| Fixed assets21/28 | - | €511,663 | €496,043 | €475,628 | €450,120 | ▼ 5.4% |
| Tangible fixed assets22/27 | - | €511,663 | €496,043 | €475,628 | €450,120 | ▼ 5.4% |
| Land and buildings22 | - | €509,291 | €486,030 | €462,769 | €439,508 | ▼ 5.0% |
| Furniture and vehicles24 | - | €2,373 | €1,780 | €3,265 | €2,152 | ▼ 34.1% |
| Other tangible fixed assets26 | - | - | €8,233 | €9,595 | €8,460 | ▼ 11.8% |
| Current assets29/58 | €52,153 | €17,200 | €35,029 | €36,618 | €41,170 | ▲ 12.4% |
| Amounts receivable within one year40/41 | €9,368 | €4,794 | €6,967 | €4,933 | €498 | ▼ 89.9% |
| Trade receivables40 | - | €4,794 | €5,493 | €1,764 | €498 | ▼ 71.8% |
| Other amounts receivable41 | - | - | €1,474 | €3,169 | - | - |
| Cash at bank and in hand54/58 | €42,785 | €12,406 | €28,062 | €31,685 | €40,672 | ▲ 28.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €52,153 | €528,863 | €531,072 | €512,247 | €491,291 | ▼ 4.1% |
| Equity10/15 | €36,752 | €70,229 | €117,833 | €41,108 | €12,987 | ▼ 68.4% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €31,752 | €65,229 | €112,833 | €36,108 | €7,987 | ▼ 77.9% |
| Amounts payable17/49 | €15,401 | €458,634 | €413,239 | €471,139 | €478,303 | ▲ 1.5% |
| Amounts payable after more than one year17 | - | €390,206 | €373,253 | €355,957 | €338,311 | ▼ 5.0% |
| Financial debts170/4 | - | €390,206 | €373,253 | €355,957 | €338,311 | ▼ 5.0% |
| Amounts payable within one year42/48 | €15,401 | €68,428 | €39,986 | €115,182 | €139,992 | ▲ 21.5% |
| Current portion of amounts payable after more than one year42 | - | €15,244 | €21,516 | €23,024 | €23,946 | ▲ 4.0% |
| Trade debts44 | €1,345 | €5,174 | €8,201 | €2,233 | €400 | ▼ 82.1% |
| Suppliers440/4 | - | €5,174 | €8,201 | €2,233 | €400 | ▼ 82.1% |
| Taxes, remuneration and social security45 | - | €5,496 | €6,652 | €7,224 | €20,892 | ▲ 189% |
| Taxes450/3 | - | €5,496 | €6,652 | €7,224 | €20,892 | ▲ 189% |
| Other amounts payable47/48 | - | €42,514 | €3,617 | €82,701 | €94,755 | ▲ 14.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,752 | €33,477 | €47,604 | €60,922 | €71,880 | ▲ 18.0% |
| + Depreciation and write-downs630 | - | €2,532 | €24,312 | €25,663 | €25,508 | ▼ 0.6% |
| Operating cash flow (approximation) | €31,752 | €36,008 | €71,916 | €86,585 | €97,388 | ▲ 12.5% |
| Investment in fixed assets (approximation) | - | - | -€8,691 | -€5,248 | €0 | ▲ 100% |
| Change in cash | - | -€30,379 | €15,656 | €3,624 | €8,987 | ▲ 148% |
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
04-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2021net €71,880 ▲18%
Operating result €104,464, net result €71,880, both a record.
2024
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Equity above €100,000Eq €117,833 ▲67.8%
3 profitable years in a row build equity to €117,833.
10-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
18-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Oudergem · 1 establishment unit since 2020
Ground area
331 m²
Building footprint
94 m²
Volume, LiDAR
826 m³
Parcel 21332E0033/00C049, Brussels · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
KETTLEWELL
since 20202.301.289.168
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332E0033/00C049 | Brussels | 331 m² | 1 · 94 m² | 12.2 m · 3 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.
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,058. 5,295 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-02-2020
Fiscal year end30-06
Activities, NACEBEL 2025
69101Activities of lawyers
Contact
E-mail
William-James.Kettlewell@bakermckenzie.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0744416897
Also
9925:BE0744416897
Registered
31-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.