KEULEERS & CO
ActiveKEULEERS & CO has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.48M and a net result of €628k. Equity is growing by ~17.4% per year across the filed fiscal years. Its solvency ranks better than 72% of 142 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84▼-7
Solvency95▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
Liquidity ample (current ratio 2.6 against 2.45 in 2024; short-term debt: 28.9% and cash: 13.3% of total assets), and 30.5% 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+raises 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 · 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
69.5%
Return on assets
12.6%
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 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
16 d early
2023
50 d early
2022
27 d early
2021
59 d early
2020
22 d early
2019
18 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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€628k▼ 20.4%
2024 · €789k
2018: €-5k
2019: €48k
2020: €93k
2021: €345k
2022: €982k
2023: €923k
2024: €789k
2018 → 2025
Working capital
€2.32M▲ 4.4%
2024 · €2.22M
2018: €569k
2019: €510k
2020: €498k
2021: €798k
2022: €1.31M
2023: €2.08M
2024: €2.22M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.49M-€1.45M▼ 2.1%€2.22M▲ 52.5%€2.85M▲ 28.4%€3.48M▲ 22.1%
Operating result€573k-€1.40M▲ 145%€1.31M▼ 6.5%€1.09M▼ 16.8%€937k▼ 14.0%
Net result€345k-€982k▲ 184%€923k▼ 6.0%€789k▼ 14.5%€628k▼ 20.4%
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.00M
Fixed assets
€1.24M▲ 57.1%
Current assets
€3.76M▲ 0.4%
Equity and liabilities €5.00M
Equity
€3.48M▲ 22.1%
Provisions
€0▼ 100%
Debt
€1.52M▼ 9.1%
The debt ratio falls from 36.9% to 30.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.18M▼
2024 · €1.24M
Cash flow
€867k▼
2024 · €939k
Solvency
69.5%▲
2024 · 62.8%
Current ratio
2.60▲
2024 · 2.45
Quick ratio
2.19▲
2024 · 2.13
Debt / equity
0.44▼
2024 · 0.59
ROE
18.1%▼
2024 · 27.7%
ROA
12.6%▼
2024 · 17.4%
Interest coverage
8.41▼
2024 · 9.72
Debt
€1.52M▼
2024 · €1.68M
Debt ≤ 1 year
€1.44M▼
2024 · €1.53M
Debt > 1 year
€78k▼
2024 · €144k
Income taxes
€210k▼
2024 · €211k
Staff costs
€1.76M▲
2024 · €1.58M
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€4.53M€5.00M▲
Fixed assets21/28€788k€1.24M▲
Intangible fixed assets21€39k€151k▲
Tangible fixed assets22/27€711k€1.04M▲
Land and buildings22€159k€222k▲
Plant, machinery and equipment23€315k€570k▲
Furniture and vehicles24€236k€251k▲
Financial fixed assets28€38k€43k▲
Current assets29/58€3.75M€3.76M▲
Amounts receivable after more than one year29€400k€967k▲
Other amounts receivable291€400k€967k▲
Stocks and contracts in progress3€488k€599k▲
Stocks30/36€488k€599k▲
Amounts receivable within one year40/41€1.37M€1.21M▼
Trade receivables40€1.32M€1.15M▼
Other amounts receivable41€44k€52k▲
Current investments50/53€875k€300k▼
Cash at bank and in hand54/58€609k€663k▲
Deferred charges and accrued income490/1€7k€26k▲
Equity and liabilities
Total equity and liabilities10/49€4.53M€5.00M▲
Equity10/15€2.85M€3.48M▲
Contributions10/11€82k€82k=
Capital10€82k€82k=
Issued capital100€82k€82k=
Reserves13€2.77M€3.39M▲
Non-distributable reserves130/1€42k€42k=
Legal reserve130€42k€42k=
Distributable reserves133€2.72M€3.35M▲
Provisions and deferred taxes16€12k-
Provisions for liabilities and charges160/5€12k-
Other liabilities and charges164/5€12k-
Amounts payable17/49€1.68M€1.52M▼
Amounts payable after more than one year17€144k€78k▼
Financial debts170/4€144k€78k▼
Other amounts payable178/9€188€188=
Amounts payable within one year42/48€1.53M€1.44M▼
Current portion of amounts payable after more than one year42€135k€87k▼
Trade debts44€1.12M€1.16M▲
Suppliers440/4€1.12M€1.16M▲
Advances received on contracts in progress46€6k€5k▼
Taxes, remuneration and social security45€98k€171k▲
Taxes450/3€68k€140k▲
Remuneration and social security454/9€30k€31k▲
Other amounts payable47/48€175k€22k▼
Accrued charges and deferred income492/3€2k€700▼
Income statement
Code20242025
Non-recurring operating income76A€24k-
Remuneration, social security and pensions62€1.58M€1.76M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€150k€239k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-150k€-12k▲
Other operating charges640/8€11k€70k▲
Gross operating margin9900€2.68M€3.00M▲
Operating profit (loss)9901€1.09M€937k▼
Financial income75/76B€38k€41k▲
Recurring financial income75€37k€41k▲
Non-recurring financial income76B€548-
Financial charges65/66B€128k€140k▲
Recurring financial charges65€128k€140k▲
Profit (loss) for the period before taxes9903€1.00M€839k▼
Income taxes67/77€211k€210k▼
Profit (loss) for the period9904€789k€628k▼
Profit (loss) for the period to be appropriated9905€789k€628k▼
Appropriation of the result
Profit (loss) to be appropriated9906€789k€628k▼
Transfer to equity691/2€629k€628k▼
To other reserves6921€629k€628k▼
Profit to be distributed694/7€160k-
Directors or managers695€160k-
Social balance
Average headcount (FTE)908726.730.7▲
The notes to these accounts (12 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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €2MEq €2.22M ▲52.5%
5 profitable years in a row build equity to €2.22M.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €982k ▲184%
Operating result €1.40M, net result €982k, both a record.
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €48k
Net result €48k after one loss-making year.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-06
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.
Directors · office · real estate
Directors
14 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, Bonheiden · 1 establishment unit since 1950
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.
Berlaarbaan 100A2820 BonheidenGround area
1.4 ha
Building footprint
5,714 m²
Volume, LiDAR
34,379 m³
2 parcels, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Berlaarbaan 100 A, 2820 Bonheiden
since 19502.102.037.708
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12005A0347/00W004 | Flanders | 1.3 ha | 1 · 5,585 m² | 10.5 m · 2 fl. |
| 12005A0347/00B005 | Flanders | 622 m² | 1 · 129 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,609 EUR awarded · 6,609 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 285 EUR | 285 EUR |
| 2023 | 1 | 2,999 EUR | 2,999 EUR |
| 2022 | 2 | 3,325 EUR | 3,325 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Recognitions · licences · registrations
Food safety, FASFC
1 siteBonheiden2.102.037.708
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Of 663 companies in sector 16110 we hold annual accounts for 320. 162 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL
16110Sawmilling and planing of wood
16240Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
46832Wholesale of timber
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
52481
Sources
Crossroads Bank for EnterprisesNational Bank · 49 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.