Kinnaird
ActiveSummary
Kinnaird has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €97,488 and a net result of €11,629. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 26% of 280 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability48▼-4
Solvency31▼-19
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity short (current ratio 0.27 against 1.27 in 2025; short-term debt: 92.2% and cash: 6.4% of total assets), and 93.5% of the assets are financed with debt.
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Signals
Four 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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 2026Solvency, return and age of the figures
Solvency
6.5%
Return on assets
0.8%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 31-08-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
on the day
2025
25 d late
2024
26 d late
2023
48 d early
2022
15 d early
2021
59 d late
2020
81 d late
← 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 18 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today. Usually files around 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-01-2027 close31-08-2027 deadline
History
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Financials · fiscal year 2026, abbreviated schema
Equity
€97,488▲ 13.5%
2025 · €85,858
Total assets
€1.5m▲ 333%
2025 · €347,297
Net result
€11,629▼ 45.5%
2025 · €21,322
Working capital
-€1.0m
2025 · €71,332
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Operating result€82,611€15,911▼ 80.7%-€13,502€33,205€24,037▼ 27.6%
Net result€73,833within the sector's middle half€6,575within the sector's middle half▼ 91.1%-€24,677below the sector's middle half€21,322within the sector's middle half€11,629▼ 45.5%
Equity€86,638below the sector's middle half▲ 577%€89,213below the sector's middle half▲ 3.0%€64,537below the sector's middle half▼ 27.7%€85,858within the sector's middle half▲ 33.0%€97,488▲ 13.5%
Total assets€398,995below the sector's middle half▲ 0.9%€477,648below the sector's middle half▲ 19.7%€369,958below the sector's middle half▼ 22.5%€347,297below the sector's middle half▼ 6.1%€1.5m▲ 333%
Debt€312,357▼ 18.4%€388,435▲ 24.4%€305,422▼ 21.4%€261,438▼ 14.4%€1.4m▲ 438%
Working capital€101,811within the sector's middle half▲ 132%€87,187within the sector's middle half▼ 14.4%€47,334within the sector's middle half▼ 45.7%€71,332within the sector's middle half▲ 50.7%-€1.0m
Solvency21.7%within the sector's middle half▲ 18.5pp18.7%within the sector's middle half▼ 3.0pp17.4%below the sector's middle half▼ 1.2pp24.7%within the sector's middle half▲ 7.3pp6.5%▼ 18.2pp
Current ratio1.35within the sector's middle half▲ 0.221.23within the sector's middle half▼ 0.121.16within the sector's middle half▼ 0.071.27within the sector's middle half▲ 0.120.27▼ 1.01
Return on assets (ROA)18.5%above the sector's middle half▲ 36.7pp1.4%within the sector's middle half▼ 17.1pp-6.7%below the sector's middle half▼ 8.0pp6.1%within the sector's middle half▲ 12.8pp0.8%▼ 5.4pp
Staff (FTE)1.1below the sector's middle half▼ 8.3%1.7within the sector's middle half▲ 54.5%1.7within the sector's middle half=2.1within the sector's middle half▲ 23.5%2.1=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 falls in 2026; 2026 is 28% below 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.1m ▲ 7,063%
Current assets
€371,948 ▲ 12.2%
Equity and liabilities €1.5m
Equity
€97,488 ▲ 13.5%
Debt
€1.4m ▲ 438%
Debt's share of the balance-sheet total rises from 75.3% to 93.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€43,065▲
2025 · €35,859
Cash flow
€30,657▲
2025 · €23,976
Quick ratio
0.08▼
2025 · 0.21
Debt to equity
14.42▲
2025 · 3.04
ROE
11.9%▼
2025 · 24.8%
Interest coverage
3.38▲
2025 · 3.01
Debt ≤ 1 year
€1.4m▲
2025 · €260,166
Income taxes
€0▼
2025 · €7
Staff costs
€107,655▲
2025 · €106,506
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,082 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.8%
went bankrupt
2.2%
stopped otherwise
97%
still going
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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,082 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4,425 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €44,263 | €89,503 | €101,505 | €106,506 | €107,655 | ▲ 1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,423 | €5,466 | €2,394 | €2,654 | €19,028 | ▲ 617% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€59,646 | -€47,249 | -€1,178 | -€11,918 | -€10,137 | ▲ 14.9% |
| Other operating charges640/8 | €12,455 | €10,906 | €7,136 | €8,759 | €9,946 | ▲ 13.6% |
| Gross operating margin9900 | €87,105 | €74,538 | €96,355 | €139,205 | €150,529 | ▲ 8.1% |
| Operating profit (loss)9901 | €82,611 | €15,911 | -€13,502 | €33,205 | €24,037 | ▼ 27.6% |
| Financial income75/76B | €379 | €8 | €147 | €32 | €345 | ▲ 967% |
| Recurring financial income75 | €379 | €8 | €147 | €32 | €345 | ▲ 967% |
| Financial charges65/66B | €9,157 | €9,345 | €11,321 | €11,908 | €12,753 | ▲ 7.1% |
| Recurring financial charges65 | €9,157 | €9,345 | €11,321 | €11,908 | €12,753 | ▲ 7.1% |
| Profit (loss) for the period before taxes9903 | €73,833 | €6,575 | -€24,677 | €21,329 | €11,629 | ▼ 45.5% |
| Income taxes67/77 | - | - | - | €7 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €73,833 | €6,575 | -€24,677 | €21,322 | €11,629 | ▼ 45.5% |
| Profit (loss) for the period to be appropriated9905 | €73,833 | €6,575 | -€24,677 | €21,322 | €11,629 | ▼ 45.5% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €398,995 | €477,648 | €369,958 | €347,297 | €1.5m | ▲ 333% |
| Fixed assets21/28 | €9,771 | €10,400 | €18,453 | €15,798 | €1.1m | ▲ 7,063% |
| Intangible fixed assets21 | €85 | €764 | €431 | €98 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €9,687 | €9,636 | €18,022 | €15,701 | €1.1m | ▲ 7,107% |
| Land and buildings22 | €4,643 | €365 | €4,807 | €4,308 | €1.1m | ▲ 25,608% |
| Plant, machinery and equipment23 | €4,717 | €7,717 | €11,912 | €10,734 | €24,080 | ▲ 124% |
| Furniture and vehicles24 | €326 | €1,554 | €1,303 | €659 | €17 | ▼ 97.5% |
| Current assets29/58 | €389,224 | €467,248 | €351,505 | €331,498 | €371,948 | ▲ 12.2% |
| Stocks and contracts in progress3 | €215,052 | €292,654 | €281,107 | €277,685 | €266,819 | ▼ 3.9% |
| Stocks30/36 | €215,052 | €292,654 | €281,107 | €277,685 | €266,819 | ▼ 3.9% |
| Amounts receivable within one year40/41 | €2,350 | €9,535 | €27,681 | €3,753 | €7,523 | ▲ 100% |
| Trade receivables40 | €2,208 | €8,402 | €6,543 | €2,431 | €3,109 | ▲ 27.9% |
| Other amounts receivable41 | €142 | €1,133 | €21,138 | €1,322 | €4,414 | ▲ 234% |
| Cash at bank and in hand54/58 | €167,425 | €162,536 | €40,566 | €49,006 | €96,370 | ▲ 96.7% |
| Deferred charges and accrued income490/1 | €4,396 | €2,523 | €2,151 | €1,055 | €1,237 | ▲ 17.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €398,995 | €477,648 | €369,958 | €347,297 | €1.5m | ▲ 333% |
| Equity10/15 | €86,638 | €89,213 | €64,537 | €85,858 | €97,488 | ▲ 13.5% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €11,638 | €14,213 | €7,500 | €10,858 | €22,488 | ▲ 107% |
| Non-distributable reserves130/1 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Reserves not available under the articles1311 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Distributable reserves133 | €4,138 | €6,713 | - | €3,358 | €14,988 | ▲ 346% |
| Profit (loss) carried forward14 | - | - | -€17,964 | €0 | - | - |
| Amounts payable17/49 | €312,357 | €388,435 | €305,422 | €261,438 | €1.4m | ▲ 438% |
| Amounts payable after more than one year17 | €22,971 | - | - | - | - | - |
| Financial debts170/4 | €22,971 | - | - | - | - | - |
| Amounts payable within one year42/48 | €287,412 | €380,061 | €304,172 | €260,166 | €1.4m | ▲ 433% |
| Current portion of amounts payable after more than one year42 | €24,697 | €22,971 | - | - | - | - |
| Financial debts43 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Credit institutions430/8 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Trade debts44 | €97,664 | €192,750 | €135,940 | €88,245 | €91,534 | ▲ 3.7% |
| Suppliers440/4 | €97,664 | €192,750 | €135,940 | €88,245 | €91,534 | ▲ 3.7% |
| Taxes, remuneration and social security45 | €16,576 | €11,864 | €19,756 | €23,445 | €20,300 | ▼ 13.4% |
| Taxes450/3 | €9,322 | €1,098 | €8,142 | €10,206 | €8,265 | ▼ 19.0% |
| Remuneration and social security454/9 | €7,254 | €10,766 | €11,613 | €13,239 | €12,035 | ▼ 9.1% |
| Other amounts payable47/48 | €23,476 | €27,476 | €23,476 | €23,476 | €1.1m | ▲ 4,796% |
| Accrued charges and deferred income492/3 | €1,973 | €8,374 | €1,250 | €1,272 | €19,755 | ▲ 1,453% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,833 | €6,575 | -€24,677 | €21,322 | €11,629 | ▼ 45.5% |
| + Depreciation and write-downs630 | €7,423 | €5,466 | €2,394 | €2,654 | €19,028 | ▲ 617% |
| Operating cash flow (approximation) | €81,257 | €12,041 | -€22,283 | €23,976 | €30,657 | ▲ 27.9% |
| Investment in fixed assets (approximation) | - | -€6,095 | -€10,446 | €0 | -€1.1m | - |
| Change in cash | - | -€4,889 | -€121,970 | €8,440 | €47,364 | ▲ 461% |
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 2027, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
31-01
Financial
Back to profitnet €21,322
Net result €21,322 after one loss-making year.
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-01
Financial
Back to profitnet €73,833
Net result €73,833 after one loss-making year.
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 59 days late
2020
20-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 81 days late
31-01
Financial
Back to profitnet €51,364
Net result €51,364 after one loss-making year.
2019
01-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
26-06
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.
0 of 6 acts read
About the unread acts
We know of 6 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
No directors read yet: 0 of 6 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 1993
Ground area
391 m²
Building footprint
391 m²
Volume, LiDAR
3,776 m³
2 parcels, Flanders · tallest building 17.2 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
HELSEN LADIES
since 19932.064.727.251
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71022H1078/00E000 | Flanders | 255 m² | 1 · 255 m² | 17.2 m · 3 fl. |
| 71022H1046/00A000 | Flanders | 136 m² | 1 · 136 m² | 13.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 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
4 ownersOwners 4
- Sourceaccounts AMBERT 202516.67%
- Sourceaccounts HASAR 202516.67%
- Sourceaccounts OLRA 202516.67%
- Sourceaccounts SPIDERS 202516.67%
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.
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Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded22-10-1993
Fiscal year end31-01
Activities, NACEBEL 2025
47512Retail sale of household textiles and bedding
47711Retail sale of women's outerwear
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451042575
Also
9925:BE0451042575
Registered
03-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.