KIPUINA
ActiveSummary
KIPUINA has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115k and a net result of €37k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 75% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▼-4
Solvency89▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 2.1 against 2.03 in 2024; short-term debt: 35.6% and cash: 55.5% of total assets), and 35.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 2025Solvency, return and age of the figures
Solvency
64.4%
Return on assets
20.5%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €115k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-09-2026, 50 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
50 d late
2024
56 d late
2023
64 d late
2022
90 d late
2021
61 d late
2020
91 d late
2019
102 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€37k▲ 8.1%
2024 · €34k
2018: €12klowest in 8 years
2019: €49k▲ +321% vs 2018highest in 8 years
2020: €29k▼ -39.4% vs 2019
2021: €38k▲ +28.7% vs 2020
2022: €26k▼ -30.6% vs 2021
2023: €25k▼ -4.1% vs 2022
2024: €34k▲ +33.8% vs 2023
2025: €37k▲ +8.1% vs 2024
2018 → 2025
Working capital
€70k▲ 2.4%
2024 · €68k
2018: €19k
2019: €22k▲ +14.0% vs 2018
2020: €-9k▼ -141% vs 2019lowest in 8 years
2021: €-5k▲ +38.3% vs 2020
2022: €9k▲ +270% vs 2021
2023: €37k▲ +293% vs 2022
2024: €68k▲ +87.2% vs 2023
2025: €70k▲ +2.4% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1k-€19k▲ 1,385%€45k▲ 131%€78k▲ 75.8%€115k▲ 46.6%
2021: €1klowest in 5 years
2022: €19k▲ +1385% vs 2021
2023: €45k▲ +131% vs 2022
2024: €78k▲ +75.8% vs 2023
2025: €115k▲ +46.6% vs 2024highest in 5 years
Operating result€38k-€34k▼ 11.9%€37k▲ 11.4%€49k▲ 30.0%€57k▲ 17.4%
2021: €38k
2022: €34k▼ -11.9% vs 2021lowest in 5 years
2023: €37k▲ +11.4% vs 2022
2024: €49k▲ +30.0% vs 2023
2025: €57k▲ +17.4% vs 2024highest in 5 years
Net result€38k-€26k▼ 30.6%€25k▼ 4.1%€34k▲ 33.8%€37k▲ 8.1%
2021: €38khighest in 5 years
2022: €26k▼ -30.6% vs 2021
2023: €25k▼ -4.1% vs 2022lowest in 5 years
2024: €34k▲ +33.8% vs 2023
2025: €37k▲ +8.1% vs 2024
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 17% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €178k
Fixed assets
€45k ▲ 348%
Current assets
€133k ▼ 0.8%
Equity and liabilities €178k
Equity
€115k ▲ 46.6%
Debt
€63k ▼ 4.0%
Debt's share of the balance-sheet total falls from 45.7% to 35.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€62k▲
2024 · €51k
Cash flow
€41k▲
2024 · €36k
Current ratio
2.10▲
2024 · 2.03
Quick ratio
2.05▲
2024 · 1.98
Debt to equity
0.55▼
2024 · 0.84
ROE
31.8%▼
2024 · 43.1%
ROA
20.5%▼
2024 · 23.4%
Interest coverage
29.44▼
2024 · 47.91
Debt ≤ 1 year
€63k▼
2024 · €66k
Income taxes
€19k▲
2024 · €14k
Staff costs
€135k▼
2024 · €141k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€144k€178k▲
Fixed assets21/28€10k€45k▲
Tangible fixed assets22/27€10k€45k▲
Plant, machinery and equipment23€6k€11k▲
Furniture and vehicles24€4k€34k▲
Current assets29/58€134k€133k▼
Stocks and contracts in progress3€4k€4k▼
Stocks30/36€4k€4k▼
Amounts receivable within one year40/41€18k€14k▼
Trade receivables40€17k€10k▼
Other amounts receivable41€1k€3k▲
Cash at bank and in hand54/58€101k€99k▼
Deferred charges and accrued income490/1€12k€17k▲
Equity and liabilities
Total equity and liabilities10/49€144k€178k▲
Equity10/15€78k€115k▲
Contributions10/11€19k€19k=
Reserves13€61k€97k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€59k€95k▲
Profit (loss) carried forward14€-849€-849=
Amounts payable17/49€66k€63k▼
Amounts payable within one year42/48€66k€63k▼
Trade debts44€6k€5k▼
Suppliers440/4€6k€5k▼
Taxes, remuneration and social security45€34k€43k▲
Taxes450/3€19k€29k▲
Remuneration and social security454/9€15k€14k▼
Other amounts payable47/48€25k€16k▼
Income statement
Code20242025
Remuneration, social security and pensions62€141k€135k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€5k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€194k€200k▲
Operating profit (loss)9901€49k€57k▲
Financial income75/76B€9€183▲
Recurring financial income75€9€183▲
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€48k€55k▲
Income taxes67/77€14k€19k▲
Profit (loss) for the period9904€34k€37k▲
Profit (loss) for the period to be appropriated9905€34k€37k▲
Appropriation of the result
Profit (loss) to be appropriated9906€33k€36k▲
Profit (loss) brought forward from the previous period14P€-849€-849=
Transfer to equity691/2€34k€37k▲
To other reserves6921€34k€37k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €112k | €154k | €155k | €141k | €135k | ▼ 4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €2k | €2k | €2k | €5k | ▲ 124% |
| Other operating charges640/8 | €2k | €4k | €3k | €3k | €3k | ▲ 10.3% |
| Non-recurring operating charges66A | €2k | €0 | - | - | - | - |
| Gross operating margin9900 | €159k | €194k | €197k | €194k | €200k | ▲ 2.7% |
| Operating profit (loss)9901 | €38k | €34k | €37k | €49k | €57k | ▲ 17.4% |
| Financial income75/76B | €134 | €0 | €16 | €9 | €183 | ▲ 2,039% |
| Recurring financial income75 | €134 | €0 | €16 | €9 | €183 | ▲ 2,039% |
| Financial charges65/66B | €382 | €170 | €435 | €1k | €2k | ▲ 98.4% |
| Recurring financial charges65 | €382 | €170 | €435 | €1k | €2k | ▲ 98.4% |
| Profit (loss) for the period before taxes9903 | €38k | €33k | €37k | €48k | €55k | ▲ 16.0% |
| Income taxes67/77 | - | €7k | €12k | €14k | €19k | ▲ 35.2% |
| Profit (loss) for the period9904 | €38k | €26k | €25k | €34k | €37k | ▲ 8.1% |
| Profit (loss) for the period to be appropriated9905 | €38k | €26k | €25k | €34k | €37k | ▲ 8.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €122k | €77k | €116k | €144k | €178k | ▲ 23.5% |
| Fixed assets21/28 | €7k | €10k | €8k | €10k | €45k | ▲ 348% |
| Tangible fixed assets22/27 | €7k | €10k | €8k | €10k | €45k | ▲ 348% |
| Plant, machinery and equipment23 | €7k | €10k | €8k | €6k | €11k | ▲ 78.2% |
| Furniture and vehicles24 | - | - | - | €4k | €34k | ▲ 771% |
| Current assets29/58 | €115k | €66k | €108k | €134k | €133k | ▼ 0.8% |
| Stocks and contracts in progress3 | €1k | €4k | €8k | €4k | €4k | ▼ 9.4% |
| Stocks30/36 | €1k | €4k | €8k | €4k | €4k | ▼ 9.4% |
| Amounts receivable within one year40/41 | €4k | €19k | €21k | €18k | €14k | ▼ 22.5% |
| Trade receivables40 | €1k | €15k | €19k | €17k | €10k | ▼ 37.2% |
| Other amounts receivable41 | €3k | €4k | €2k | €1k | €3k | ▲ 204% |
| Cash at bank and in hand54/58 | €104k | €34k | €67k | €101k | €99k | ▼ 1.8% |
| Deferred charges and accrued income490/1 | €6k | €10k | €12k | €12k | €17k | ▲ 43.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €122k | €77k | €116k | €144k | €178k | ▲ 23.5% |
| Equity10/15 | €1k | €19k | €45k | €78k | €115k | ▲ 46.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €27k | €61k | €97k | ▲ 60.2% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | - | €25k | €59k | €95k | ▲ 62.1% |
| Profit (loss) carried forward14 | €-19k | €-1k | €-849 | €-849 | €-849 | = |
| Amounts payable17/49 | €121k | €57k | €72k | €66k | €63k | ▼ 4.0% |
| Amounts payable within one year42/48 | €121k | €57k | €72k | €66k | €63k | ▼ 4.0% |
| Trade debts44 | €33k | €10k | €23k | €6k | €5k | ▼ 29.6% |
| Suppliers440/4 | €33k | €10k | €23k | €6k | €5k | ▼ 29.6% |
| Taxes, remuneration and social security45 | €50k | €28k | €36k | €34k | €43k | ▲ 25.3% |
| Taxes450/3 | €38k | €17k | €21k | €19k | €29k | ▲ 48.3% |
| Remuneration and social security454/9 | €12k | €11k | €15k | €15k | €14k | ▼ 4.3% |
| Other amounts payable47/48 | €39k | €19k | €13k | €25k | €16k | ▼ 37.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38k | €26k | €25k | €34k | €37k | ▲ 8.1% |
| + Depreciation and write-downs630 | €5k | €2k | €2k | €2k | €5k | ▲ 124% |
| Operating cash flow (approximation) | €43k | €28k | €27k | €36k | €41k | ▲ 15.0% |
| Investment in fixed assets (approximation) | - | €-5k | €0 | €-4k | €-40k | ▼ 869% |
| Change in cash | - | €-70k | €33k | €34k | €-2k | ▼ 105% |
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
19-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 50 days late
2025
31-12
Financial
Equity above €100kEq €115k ▲46.6%
8 profitable years in a row build equity to €115k.
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 56 days late
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 64 days late
2023
29-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 90 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 102 days late
2019
31-12
Financial
Highest result since 2018net €49k ▲321%
Net result €49k, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Sint-Lambrechts-Woluwe · 1 establishment unit since 1986
Ground area
253 m²
Building footprint
202 m²
Volume, LiDAR
2,043 m³
Parcel 21018B0172/00E000, Brussels · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
KIPUINA
since 19862.037.022.269
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21018B0172/00E000 | Brussels | 253 m² | 1 · 202 m² | 14.4 m · 4 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 3,386 companies in sector 47761 we hold annual accounts for 1,156. 926 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
Founded23-05-1986
Fiscal year end31-12
Activities, NACEBEL 2025
47761Retail sale of flowers, plants, seeds and fertilisers
47521Retail sale of hardware, building materials, paint and glass (general range)
Scores and ratios are computed by Checked and are not a credit decision.