KLUZZ
ActiveSummary
KLUZZ has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145,126 and a net result of €8,822. Equity is growing by ~12.7% per year across the filed fiscal years. Its solvency ranks better than 71% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-9
Solvency84▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 3.45 against 3.54 in 2024; short-term debt: 13.9% and cash: 21.5% of total assets), and 41.5% 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
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
58.5%
Return on assets
3.6%
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
61 d late
2023
26 d late
2022
29 d late
2021
30 d late
2020
31 d late
2019
82 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 36 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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. Usually files around 29 August (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€145,126▲ 6.5%
2024 · €136,304
Total assets
€248,078▲ 10.9%
2024 · €223,613
Net result
€8,822▼ 63.2%
2024 · €23,995
Working capital
€84,693▲ 10.2%
2024 · €76,857
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€58,172▲ 145%€15,360▼ 73.6%€30,100▲ 96.0%€32,324▲ 7.4%€13,712▼ 57.6%
Net result€41,077above the sector's middle half▲ 166%€8,689within the sector's middle half▼ 78.8%€21,243above the sector's middle half▲ 144%€23,995above the sector's middle half▲ 13.0%€8,822within the sector's middle half▼ 63.2%
Equity€106,377within the sector's middle half▲ 38.8%€115,066within the sector's middle half▲ 8.2%€124,309above the sector's middle half▲ 8.0%€136,304above the sector's middle half▲ 9.6%€145,126above the sector's middle half▲ 6.5%
Total assets€151,048within the sector's middle half▲ 31.9%€174,757within the sector's middle half▲ 15.7%€167,610within the sector's middle half▼ 4.1%€223,613within the sector's middle half▲ 33.4%€248,078within the sector's middle half▲ 10.9%
Debt€44,670▲ 17.9%€59,691▲ 33.6%€43,301▼ 27.5%€87,309▲ 102%€102,951▲ 17.9%
Working capital€72,280within the sector's middle half▲ 42.9%€79,617within the sector's middle half▲ 10.2%€74,787within the sector's middle half▼ 6.1%€76,857within the sector's middle half▲ 2.8%€84,693within the sector's middle half▲ 10.2%
Solvency70.4%above the sector's middle half▲ 3.5pp65.8%above the sector's middle half▼ 4.6pp74.2%above the sector's middle half▲ 8.3pp61.0%within the sector's middle half▼ 13.2pp58.5%within the sector's middle half▼ 2.5pp
Current ratio3.06above the sector's middle half▲ 0.012.77above the sector's middle half▼ 0.283.23above the sector's middle half▲ 0.463.54above the sector's middle half▲ 0.313.45above the sector's middle half▼ 0.08
Return on assets (ROA)27.2%above the sector's middle half▲ 13.7pp5.0%within the sector's middle half▼ 22.2pp12.7%above the sector's middle half▲ 7.7pp10.7%within the sector's middle half▼ 1.9pp3.6%within the sector's middle half▼ 7.2pp
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 58% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €248,078
Fixed assets
€128,859 ▲ 10.6%
Current assets
€119,218 ▲ 11.3%
Equity and liabilities €248,078
Equity
€145,126 ▲ 6.5%
Debt
€102,951 ▲ 17.9%
Debt's share of the balance-sheet total rises from 39.0% to 41.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€38,132▼
2024 · €44,783
Cash flow
€33,242▼
2024 · €36,453
Debt to equity
0.71▲
2024 · 0.64
ROE
6.1%▼
2024 · 17.6%
Interest coverage
10.17▼
2024 · 30.13
Debt ≤ 1 year
€34,525▲
2024 · €30,285
Debt > 1 year
€68,426▲
2024 · €57,024
Income taxes
€3,979▼
2024 · €9,897
Staff costs
€3,840=
2024 · €3,840
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% 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 497,662 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% | 1.7% |
| 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 75% 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 10,905 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 | - | - | - | €5,661 | €12,096 | ▲ 114% |
| Remuneration, social security and pensions62 | €3,840 | €3,840 | €3,840 | €3,840 | €3,840 | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,449 | €11,913 | €8,788 | €12,458 | €24,420 | ▲ 96.0% |
| Other operating charges640/8 | €884 | €1,753 | €1,457 | €3,560 | €1,468 | ▼ 58.8% |
| Gross operating margin9900 | €70,345 | €32,866 | €44,186 | €52,182 | €43,440 | ▼ 16.8% |
| Operating profit (loss)9901 | €58,172 | €15,360 | €30,100 | €32,324 | €13,712 | ▼ 57.6% |
| Financial income75/76B | €1,195 | €357 | €2,357 | €3,054 | €2,837 | ▼ 7.1% |
| Recurring financial income75 | €1,195 | €357 | €2,357 | €3,054 | €2,837 | ▼ 7.1% |
| Financial charges65/66B | €1,479 | €1,562 | €1,259 | €1,486 | €3,748 | ▲ 152% |
| Recurring financial charges65 | €1,479 | €1,562 | €1,259 | €1,486 | €3,748 | ▲ 152% |
| Profit (loss) for the period before taxes9903 | €57,889 | €14,155 | €31,198 | €33,892 | €12,801 | ▼ 62.2% |
| Income taxes67/77 | €16,812 | €5,467 | €9,955 | €9,897 | €3,979 | ▼ 59.8% |
| Profit (loss) for the period9904 | €41,077 | €8,689 | €21,243 | €23,995 | €8,822 | ▼ 63.2% |
| Profit (loss) for the period to be appropriated9905 | €41,077 | €8,689 | €21,243 | €23,995 | €8,822 | ▼ 63.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €151,048 | €174,757 | €167,610 | €223,613 | €248,078 | ▲ 10.9% |
| Fixed assets21/28 | €43,640 | €50,243 | €59,290 | €116,470 | €128,859 | ▲ 10.6% |
| Tangible fixed assets22/27 | €43,640 | €50,243 | €59,290 | €116,470 | €128,859 | ▲ 10.6% |
| Land and buildings22 | €12,250 | €27,813 | €26,481 | €25,150 | €19,006 | ▼ 24.4% |
| Plant, machinery and equipment23 | €26,067 | €17,868 | €15,110 | €12,940 | €13,419 | ▲ 3.7% |
| Furniture and vehicles24 | €5,324 | €4,563 | €17,699 | €78,380 | €96,435 | ▲ 23.0% |
| Current assets29/58 | €107,407 | €124,513 | €108,320 | €107,143 | €119,218 | ▲ 11.3% |
| Stocks and contracts in progress3 | €19,548 | €27,048 | €2,500 | €0 | - | - |
| Stocks30/36 | €19,548 | €19,548 | - | - | - | - |
| Contracts in progress37 | - | €7,500 | €2,500 | €0 | - | - |
| Amounts receivable within one year40/41 | €19,559 | €35,015 | €71,651 | €76,386 | €65,996 | ▼ 13.6% |
| Trade receivables40 | €17,332 | €20,418 | €15,001 | €15,544 | €12,901 | ▼ 17.0% |
| Other amounts receivable41 | €2,226 | €14,597 | €56,650 | €60,842 | €53,095 | ▼ 12.7% |
| Cash at bank and in hand54/58 | €68,301 | €62,451 | €34,169 | €30,757 | €53,222 | ▲ 73.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €151,048 | €174,757 | €167,610 | €223,613 | €248,078 | ▲ 10.9% |
| Equity10/15 | €106,377 | €115,066 | €124,309 | €136,304 | €145,126 | ▲ 6.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €87,777 | €96,466 | €105,709 | €117,704 | €126,526 | ▲ 7.5% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €85,917 | €94,606 | €103,849 | €115,844 | €124,666 | ▲ 7.6% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €44,670 | €59,691 | €43,301 | €87,309 | €102,951 | ▲ 17.9% |
| Amounts payable after more than one year17 | €9,543 | €14,795 | €9,768 | €57,024 | €68,426 | ▲ 20.0% |
| Financial debts170/4 | €9,543 | €14,795 | €9,768 | €57,024 | €68,426 | ▲ 20.0% |
| Amounts payable within one year42/48 | €35,128 | €44,896 | €33,533 | €30,285 | €34,525 | ▲ 14.0% |
| Current portion of amounts payable after more than one year42 | €10,157 | €9,750 | €5,026 | €16,348 | €22,866 | ▲ 39.9% |
| Trade debts44 | €8,839 | €35,146 | €16,186 | €921 | €11,438 | ▲ 1,143% |
| Suppliers440/4 | €8,839 | €35,146 | €16,186 | €921 | €11,438 | ▲ 1,143% |
| Taxes, remuneration and social security45 | €12,812 | - | - | €697 | €220 | ▼ 68.5% |
| Taxes450/3 | €12,812 | - | - | €697 | €220 | ▼ 68.5% |
| Other amounts payable47/48 | €3,320 | - | €12,320 | €12,320 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,077 | €8,689 | €21,243 | €23,995 | €8,822 | ▼ 63.2% |
| + Depreciation and write-downs630 | €7,449 | €11,913 | €8,788 | €12,458 | €24,420 | ▲ 96.0% |
| Operating cash flow (approximation) | €48,526 | €20,602 | €30,031 | €36,453 | €33,242 | ▼ 8.8% |
| Investment in fixed assets (approximation) | - | -€18,516 | -€17,835 | -€69,639 | -€36,809 | ▲ 47.1% |
| Change in cash | - | -€5,850 | -€28,282 | -€3,412 | €22,465 | ▲ 758% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2018net €41,077 ▲166%
Operating result €58,172, net result €41,077, both a record.
31-12
Financial
Equity above €100,000Eq €106,377 ▲38.8%
4 profitable years in a row build equity to €106,377.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
21-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 82 days late
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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
6 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, Dendermonde · 2 establishment units since 2011
Ground area
1,256 m²
Building footprint
581 m²
Volume, LiDAR
3,913 m³
2 parcels, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
KLUZZ
since 20112.198.337.724
MaBelle Store
since 20182.301.773.673
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42021C0139/00P003 | Flanders | 711 m² | 1 · 481 m² | 11.1 m · 3 fl. |
| 42021C0355/00M000 | Flanders | 544 m² | 1 · 100 m² | 0.0 m |
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.
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Of 276 companies in sector 47519 we hold annual accounts for 130. 93 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
Founded13-04-2011
Fiscal year end31-12
Activities, NACEBEL 2025
47519Retail trade
16230Manufacture of other builders' carpentry and joinery
22240Manufacture of rubber and plastic products
31009Manufacture of furniture
43230Insulation installation
43990Other specialised construction activities
47721Retail sale of footwear
47722Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0835452288
Also
9925:BE0835452288
Registered
19-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.