KEUST
ActiveKEUST has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €381k and a net result of €1k. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 70% of 800 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability69▼-30
Solvency77▲+7
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 1.65 against 1.27 in 2024; short-term debt: 35.8% and cash: 35.1% of total assets), and 47.7% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
52.3%
Return on assets
0.1%
Age of the figures
9 mo
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
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
2 d early
2022
2 d early
2021
5 d early
2020
16 d early
2019
3 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€381k▲ 0.3%
2024 · €380k
2018: €148k
2019: €226k
2020: €331k
2021: €461k
2022: €229k
2023: €316k
2024: €380k
2018 → 2025
Total assets
€729k▼ 13.6%
2024 · €844k
2018: €265k
2019: €424k
2020: €585k
2021: €732k
2022: €941k
2023: €883k
2024: €844k
2018 → 2025
Net result
€1k▼ 99.5%
2024 · €204k
2018: €33k
2019: €78k
2020: €105k
2021: €155k
2022: €296k
2023: €331k
2024: €204k
2018 → 2025
Working capital
€168k▲ 60.9%
2024 · €105k
2018: €66k
2019: €100k
2020: €137k
2021: €249k
2022: €19k
2023: €0
2024: €105k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€461k-€229k▼ 50.4%€316k▲ 38.3%€380k▲ 20.1%€381k▲ 0.3%
Operating result€207k-€297k▲ 43.1%€337k▲ 13.5%€213k▼ 36.8%€12k▼ 94.4%
Net result€155k-€296k▲ 90.9%€331k▲ 11.7%€204k▼ 38.5%€1k▼ 99.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 94% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €729k
Fixed assets
€300k▼ 13.0%
Current assets
€429k▼ 14.0%
Equity and liabilities €729k
Equity
€381k▲ 0.3%
Debt
€348k▼ 24.9%
The debt ratio falls from 55.0% to 47.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€110k▼
2024 · €308k
Cash flow
€99k▼
2024 · €299k
Solvency
52.3%▲
2024 · 45.0%
Current ratio
1.65▲
2024 · 1.27
Quick ratio
1.55▲
2024 · 1.21
Debt / equity
0.91▼
2024 · 1.22
ROE
0.3%▼
2024 · 53.6%
ROA
0.1%▼
2024 · 24.1%
Interest coverage
9.29▼
2024 · 28.07
Debt
€348k▼
2024 · €464k
Debt ≤ 1 year
€261k▼
2024 · €394k
Debt > 1 year
€85k▲
2024 · €68k
Income taxes
€0▼
2024 · €212
Staff costs
€465k▼
2024 · €471k
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€844k€729k▼
Fixed assets21/28€345k€300k▼
Intangible fixed assets21€9k€6k▼
Tangible fixed assets22/27€335k€294k▼
Plant, machinery and equipment23€254k€220k▼
Furniture and vehicles24€13k€15k▲
Other tangible fixed assets26€68k€59k▼
Current assets29/58€499k€429k▼
Stocks and contracts in progress3€20k€26k▲
Stocks30/36€20k€26k▲
Amounts receivable within one year40/41€109k€138k▲
Trade receivables40€72k€87k▲
Other amounts receivable41€37k€52k▲
Cash at bank and in hand54/58€366k€256k▼
Deferred charges and accrued income490/1€4k€9k▲
Equity and liabilities
Total equity and liabilities10/49€844k€729k▼
Equity10/15€380k€381k▲
Contributions10/11€10k€10k=
Reserves13€185k€185k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€183k€183k=
Profit (loss) carried forward14€185k€186k▲
Amounts payable17/49€464k€348k▼
Amounts payable after more than one year17€68k€85k▲
Financial debts170/4€68k€85k▲
Amounts payable within one year42/48€394k€261k▼
Current portion of amounts payable after more than one year42€15k€15k▼
Trade debts44€163k€164k▲
Suppliers440/4€163k€164k▲
Taxes, remuneration and social security45€68k€71k▲
Taxes450/3€5k€6k▲
Remuneration and social security454/9€63k€64k▲
Other amounts payable47/48€149k€11k▼
Accrued charges and deferred income492/3€1k€2k▲
Income statement
Code20242025
Non-recurring operating income76A€16k€0▼
Remuneration, social security and pensions62€471k€465k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€96k€98k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€782k€578k▼
Operating profit (loss)9901€213k€12k▼
Financial income75/76B€2k€870▼
Recurring financial income75€2k€870▼
Financial charges65/66B€11k€12k▲
Recurring financial charges65€11k€12k▲
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€204k€1k▼
Income taxes67/77€212€0▼
Profit (loss) for the period9904€204k€1k▼
Profit (loss) for the period to be appropriated9905€204k€1k▼
Appropriation of the result
Profit (loss) to be appropriated9906€325k€186k▼
Profit (loss) brought forward from the previous period14P€121k€185k▲
Transfer from equity791/2€0-
Profit to be distributed694/7€140k€0▼
Return on contributions (dividend)694€0-
Directors or managers695€140k€0▼
Social balance
Average headcount (FTE)90879.98.7▼
The notes to these accounts (14 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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €1k ▼99.5%
Net result drops to €1k, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €331k ▲11.7%
Operating result €337k, net result €331k, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €226k ▲53.2%
2 profitable years in a row build equity to €226k.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
01-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
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
4 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, Rijkevorsel · 2 establishment units since 2012
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.
Helhoekweg 332310 RijkevorselGround area
1,395 m²
Building footprint
940 m²
Volume, LiDAR
4,131 m³
2 parcels, Flanders · tallest building 10.7 m, ±1 floor. Linked by address, not a title deed.
2 establishment units
Keust
since 20122.215.271.845
Keust Sint-Jozef
since 20232.346.442.965
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13502E0446/00W004 | Flanders | 908 m² | 1 · 445 m² | 9.4 m · 1 fl. |
| 13502E0171/00T000 | Flanders | 488 m² | 1 · 495 m² | 10.7 m · 1 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 · 2 entries · 7,649 EUR awarded · 7,649 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 870 EUR | 870 EUR |
| 2022 | 1 | 6,779 EUR | 6,779 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
2 sitesRijkevorsel2.215.271.845
Rijkevorsel2.346.442.965
Similar companies · same sector, comparable size
JAMAIS EUX SANS TOI
BE 0468.685.093
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PATISSERIE WILLEMS
BE 0455.238.420
Dendermonde · Eq €369k
BAKKERIJ RAES
BE 0421.308.711
Kruisem · Eq €408k
PQ BELGIUM
BE 0810.307.316
Brussel · Eq €354k
JEAN FV CHOCOLATIER
BE 0479.272.149
Habay · Eq €351k
Of 511 companies in sector 10711 we hold annual accounts for 329. 219 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-12-2012
Fiscal year end31-12
Activities, NACEBEL
10711Manufacture of food products
10712Artisanal bread and fresh pastry making
10720Manufacture of food products
10820Manufacture of cocoa, chocolate and sugar confectionery
47241Retail sale of bread and pastry (bakery outlets)
47242Retail sale of chocolate and confectionery
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.