Keustermans
ActiveSummary
Keustermans has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €620,769 and a net result of -€9,119. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 28% of 1760 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+8
Solvency50▲+5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity short (current ratio 0.63 against 0.77 in 2024; short-term debt: 33.4% and cash: 6.9% of total assets), and 75.3% of the assets are financed with debt.
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Signals
Five 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 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€9,119
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 12-05-2026, 12 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
12 d late
2024
1 d early
2023
2 d early
2022
1 d late
2021
on the day
2020
2 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 oldest company in Maaseik, Agriculture, forestry and fishing sector#5 company by total assets in Maaseik, Agriculture, forestry and fishing sector#8 company by equity in Maaseik, Agriculture, forestry and fishing sector
Equity
€620,769▼ 1.4%
2024 · €629,888
Total assets
€2.5m▼ 20.0%
2024 · €3.1m
Net result
-€9,119▲ 69.7%
2024 · -€30,105
Working capital
-€308,497▼ 2.2%
2024 · -€301,728
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service 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€37,107▼ 27.7%€20,177▼ 45.6%€19,724▼ 2.2%€930▼ 95.3%€29,224▲ 3,044%
Net result-€17,892within the sector's middle half▼ 94.0%-€25,768below the sector's middle half▼ 44.0%-€27,206below the sector's middle half▼ 5.6%-€30,105below the sector's middle half▼ 10.7%-€9,119below the sector's middle half▲ 69.7%
Equity€1.6mabove the sector's middle half▼ 1.1%€1.5mabove the sector's middle half▼ 1.7%€1.5mabove the sector's middle half▼ 1.8%€629,888within the sector's middle half▼ 58.0%€620,769within the sector's middle half▼ 1.4%
Total assets€4.5mabove the sector's middle half▲ 2.3%€4.3mabove the sector's middle half▼ 6.1%€3.9mabove the sector's middle half▼ 9.2%€3.1mwithin the sector's middle half▼ 18.8%€2.5mwithin the sector's middle half▼ 20.0%
Debt€3.0m▲ 4.2%€2.7m▼ 8.4%€2.4m▼ 13.4%€2.5m▲ 6.0%€1.9m▼ 24.7%
Working capital€1.1m▲ 34.4%€1.0m▼ 7.5%€1.0m▼ 2.1%-€301,728-€308,497▼ 2.2%
Solvency34.2%within the sector's middle half▼ 1.2pp35.8%within the sector's middle half▲ 1.6pp38.8%within the sector's middle half▲ 2.9pp20.1%below the sector's middle half▼ 18.7pp24.7%within the sector's middle half▲ 4.7pp
Staff (FTE)0.6below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 3,044% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.5m
Fixed assets
€2.0m ▼ 7.1%
Current assets
€530,510 ▼ 47.3%
Equity and liabilities €2.5m
Equity
€620,769 ▼ 1.4%
Debt
€1.9m ▼ 24.7%
Debt's share of the balance-sheet total falls from 79.9% to 75.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€363,919▲
2024 · €274,963
Cash flow
€325,575▲
2024 · €243,928
Current ratio
0.63▼
2024 · 0.77
Quick ratio
0.28▼
2024 · 0.47
Debt to equity
3.05▼
2024 · 3.99
ROE
-1.5%▲
2024 · -4.8%
ROA
-0.4%▲
2024 · -1.0%
Interest coverage
8.93▲
2024 · 5.12
Debt ≤ 1 year
€839,008▼
2024 · €1.3m
Debt > 1 year
€888,694▼
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,501 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 2,501 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €500 | - | - |
| Remuneration, social security and pensions62 | €18,541 | €1,253 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €295,118 | €316,368 | €296,373 | €274,033 | €334,694 | ▲ 22.1% |
| Other operating charges640/8 | €14,876 | €25,265 | €38,755 | €22,401 | €16,598 | ▼ 25.9% |
| Gross operating margin9900 | €365,641 | €363,063 | €354,852 | €297,364 | €380,516 | ▲ 28.0% |
| Operating profit (loss)9901 | €37,107 | €20,177 | €19,724 | €930 | €29,224 | ▲ 3,044% |
| Financial income75/76B | €3,775 | €7,782 | €2,195 | €22,633 | €2,430 | ▼ 89.3% |
| Recurring financial income75 | €3,775 | €7,782 | €2,195 | €22,633 | €2,430 | ▼ 89.3% |
| Financial charges65/66B | €58,774 | €53,726 | €49,125 | €53,668 | €40,774 | ▼ 24.0% |
| Recurring financial charges65 | €58,774 | €53,726 | €49,125 | €53,668 | €40,774 | ▼ 24.0% |
| Profit (loss) for the period before taxes9903 | -€17,892 | -€25,768 | -€27,206 | -€30,105 | -€9,119 | ▲ 69.7% |
| Profit (loss) for the period9904 | -€17,892 | -€25,768 | -€27,206 | -€30,105 | -€9,119 | ▲ 69.7% |
| Profit (loss) for the period to be appropriated9905 | -€17,892 | -€25,768 | -€27,206 | -€30,105 | -€9,119 | ▲ 69.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.5m | €4.3m | €3.9m | €3.1m | €2.5m | ▼ 20.0% |
| Fixed assets21/28 | €2.9m | €2.6m | €2.3m | €2.1m | €2.0m | ▼ 7.1% |
| Tangible fixed assets22/27 | €2.9m | €2.6m | €2.3m | €2.1m | €2.0m | ▼ 7.1% |
| Land and buildings22 | €2.5m | €2.3m | €2.1m | €1.9m | €1.7m | ▼ 8.8% |
| Plant, machinery and equipment23 | €464,539 | €261,963 | €182,637 | €189,954 | €230,109 | ▲ 21.1% |
| Furniture and vehicles24 | - | €97,750 | €72,250 | €46,750 | €21,250 | ▼ 54.5% |
| Financial fixed assets28 | €110 | €110 | €110 | €110 | €110 | = |
| Current assets29/58 | €1.6m | €1.6m | €1.5m | €1.0m | €530,510 | ▼ 47.3% |
| Stocks and contracts in progress3 | €1.3m | €1.2m | €707,411 | €395,115 | €296,356 | ▼ 25.0% |
| Stocks30/36 | €1.3m | €1.2m | €707,411 | €395,115 | €296,356 | ▼ 25.0% |
| Amounts receivable within one year40/41 | €306,982 | €276,454 | €56,546 | €564,698 | €45,114 | ▼ 92.0% |
| Trade receivables40 | €2,556 | €17,452 | €56,546 | - | €41,337 | - |
| Other amounts receivable41 | €304,426 | €259,002 | - | €564,698 | €3,777 | ▼ 99.3% |
| Cash at bank and in hand54/58 | €2,849 | €77,813 | €640,469 | €11,225 | €173,818 | ▲ 1,448% |
| Deferred charges and accrued income490/1 | €10,036 | €92,986 | €144,473 | €35,242 | €15,223 | ▼ 56.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.5m | €4.3m | €3.9m | €3.1m | €2.5m | ▼ 20.0% |
| Equity10/15 | €1.6m | €1.5m | €1.5m | €629,888 | €620,769 | ▼ 1.4% |
| Contributions10/11 | €839,437 | €839,437 | €839,437 | - | - | - |
| Outside capital11 | €839,437 | €839,437 | - | - | - | - |
| Other1109/19 | €839,437 | €839,437 | - | - | - | - |
| Revaluation surpluses12 | €740,175 | €740,175 | €740,175 | €740,175 | €740,175 | = |
| Reserves13 | €2,759 | €2,759 | €2,759 | €2,195 | €2,195 | = |
| Non-distributable reserves130/1 | €2,759 | €2,759 | €2,759 | - | - | - |
| Reserves not available under the articles1311 | €2,759 | €2,759 | €2,759 | - | - | - |
| Distributable reserves133 | - | - | - | €2,195 | €2,195 | = |
| Profit (loss) carried forward14 | -€29,404 | -€55,172 | -€82,377 | -€112,482 | -€121,602 | ▼ 8.1% |
| Amounts payable17/49 | €3.0m | €2.7m | €2.4m | €2.5m | €1.9m | ▼ 24.7% |
| Amounts payable after more than one year17 | €2.2m | €2.1m | €1.8m | €1.1m | €888,694 | ▼ 21.7% |
| Financial debts170/4 | €2.2m | €2.1m | €1.8m | €1.1m | €888,694 | ▼ 21.7% |
| Amounts payable within one year42/48 | €486,891 | €611,364 | €535,292 | €1.3m | €839,008 | ▼ 35.9% |
| Current portion of amounts payable after more than one year42 | €265,414 | €290,648 | €315,886 | €263,459 | €246,148 | ▼ 6.6% |
| Trade debts44 | €221,478 | €289,689 | €195,145 | €204,550 | €142,834 | ▼ 30.2% |
| Suppliers440/4 | €221,478 | €289,689 | €195,145 | €204,550 | €142,834 | ▼ 30.2% |
| Taxes, remuneration and social security45 | - | €31,026 | €24,260 | - | - | - |
| Taxes450/3 | - | €31,026 | €24,260 | - | - | - |
| Other amounts payable47/48 | - | - | - | €840,000 | €450,026 | ▼ 46.4% |
| Accrued charges and deferred income492/3 | €308,587 | €24,767 | €50,122 | €67,430 | €163,740 | ▲ 143% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,892 | -€25,768 | -€27,206 | -€30,105 | -€9,119 | ▲ 69.7% |
| + Depreciation and write-downs630 | €295,118 | €316,368 | €296,373 | €274,033 | €334,694 | ▲ 22.1% |
| Operating cash flow (approximation) | €277,225 | €290,600 | €269,168 | €243,928 | €325,575 | ▲ 33.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€88,111 | -€182,506 | ▼ 107% |
| Change in cash | - | €74,964 | €562,656 | -€629,244 | €162,593 | ▲ 126% |
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
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 12 days late
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Weakest financial yearnet -€30,105
Net result drops to -€30,105, the lowest in the series; recovery starts the following year.
28-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
01-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 1 day late
2022
30-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
05-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 48 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Maaseik · 2 establishment units since 1978
Ground area
5,537 m²
Building footprint
1,223 m²
Volume, LiDAR
944 m³
3 parcels, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
2 establishment units
Hees 7, 2310 Rijkevorsel
since 19782.015.195.289
Hofstraat 4, 2380 Ravels
since 20052.194.327.862
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13037G0189/00R000 | Flanders | 3,322 m² | 1 · 204 m² | 7.5 m · 2 fl. |
| 72024C0242/00G000 | Flanders | 1,279 m² | 1 · 159 m² | - |
| 13035B0273/00K000 | Flanders | 936 m² | 1 · 860 m² | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- Vlevaco
- Keustermans
Highest known parent: Vlevaco. The sources do not say who stands above it.
Owners 1
- Vlevacoparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteRijkevorsel2.015.195.289
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Of 903 companies in sector 01461 we hold annual accounts for 295. 245 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
Founded04-09-1978
Fiscal year end30-09
Activities, NACEBEL 2025
01461Pig breeding farms
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418648733
Also
9925:BE0418648733
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.