KNAERS

Active

Private limited companyfounded 200421 yrs activeMuseumkwartier 3, 3700 Tongeren-Borgloon, BelgiumKBO/BCE: BE 0870.445.831

KNAERS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11k and a net result of €5k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 45% of 13159 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).

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Checked score

Score 2025

57 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability49▲+49

Solvency50▲+20

Growth58▲+26

Track record100

Bankruptcy probability, 12 months

1.3% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity ample (current ratio 1.64 against 0.98 in 2024; short-term debt: 50.1% and cash: 28.9% of total assets), but 75.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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 filings

Deviation from the deadline

2025

17 d late

2024

on the day

2023

1 d early

2022

21 d late

2021

43 d late

2020

3 d early

2019

1 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€11k▲ 88.6%

2024 · €6k

2019: €20k 2020: €28k 2021: €56k 2022: €59k 2023: €66k 2024: €6k

2019 → 2025

Total assets

€46k▼ 59.5%

2024 · €113k

2019: €85k 2020: €101k 2021: €142k 2022: €128k 2023: €177k 2024: €113k

2019 → 2025

Net result

€5k

2024 · €-60k

2019: €-596 2020: €8k 2021: €28k 2022: €3k 2023: €8k 2024: €-60k

2019 → 2025

Working capital

€15k

2024 · €-2k

2019: €-29k 2020: €-46k 2021: €2k 2022: €7k 2023: €79k 2024: €-2k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€56k-€59k▲ 4.5%€66k▲ 12.9%€6k▼ 90.9%€11k▲ 88.6%

Operating result€33k-€12k▼ 65.3%€-3k€-44k▼ 1,640%€10k

Net result€28k-€3k▼ 90.9%€8k▲ 197%€-60k€5k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €10k after a loss of €44k in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €46k

17.9%

82.1%

Fixed assets €8k▼ 74.9%

Current assets €38k▼ 53.2%

Equity and liabilities €46k

24.8%

75.2%

Equity €11k▲ 88.6%

Debt €34k▼ 67.8%

The debt ratio falls from 94.7% to 75.2%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€12k▲

2024 · €-30k

Cash flow

€7k▲

2024 · €-47k

Solvency

24.8%▲

2024 · 5.3%

Current ratio

1.64▲

2024 · 0.98

Quick ratio

1.64▲

2024 · 0.84

Debt / equity

3.04▼

2024 · 17.79

ROE

47.0%

ROA

11.6%▲

2024 · -53.4%

Interest coverage

1.89▲

2024 · -4.35

Debt

€34k▼

2024 · €107k

Debt ≤ 1 year

€23k▼

2024 · €82k

Debt > 1 year

€12k▲

2024 · €10k

Staff costs

€343k▲

2024 · €218k

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€113k€46k▼

Fixed assets21/28€33k€8k▼

Intangible fixed assets21€8k-

Tangible fixed assets22/27€25k€8k▼

Plant, machinery and equipment23€8k-

Furniture and vehicles24€5k€8k▲

Other tangible fixed assets26€12k-

Current assets29/58€80k€38k▼

Stocks and contracts in progress3€12k-

Stocks30/36€12k-

Amounts receivable within one year40/41€64k€21k▼

Trade receivables40€881-

Other amounts receivable41€63k€21k▼

Cash at bank and in hand54/58€3k€13k▲

Deferred charges and accrued income490/1€2k€3k▲

Equity and liabilities

Total equity and liabilities10/49€113k€46k▼

Equity10/15€6k€11k▲

Contributions10/11€12k€12k=

Reserves13€16k€16k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Distributable reserves133€14k€14k=

Profit (loss) carried forward14€-22k€-17k▲

Amounts payable17/49€107k€34k▼

Amounts payable after more than one year17€10k€12k▲

Financial debts170/4€10k€12k▲

Amounts payable within one year42/48€82k€23k▼

Current portion of amounts payable after more than one year42€346€10k▲

Trade debts44€50k€13k▼

Suppliers440/4€50k€13k▼

Taxes, remuneration and social security45€26k-

Taxes450/3€11k-

Remuneration and social security454/9€15k-

Other amounts payable47/48€6k-

Accrued charges and deferred income492/3€15k-

Income statement Code20242025

Non-recurring operating income76A€12k€74k▲

Remuneration, social security and pensions62€218k€343k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€2k▼

Other operating charges640/8€9k€22k▲

Non-recurring operating charges66A€4k-

Gross operating margin9900€200k€377k▲

Operating profit (loss)9901€-44k€10k▲

Financial income75/76B€3k€1k▼

Recurring financial income75€3k€1k▼

Non-recurring financial income76B€0-

Financial charges65/66B€7k€6k▼

Recurring financial charges65€7k€6k▼

Profit (loss) for the period before taxes9903€-48k€5k▲

Income taxes67/77€12k-

Profit (loss) for the period9904€-60k€5k▲

Profit (loss) for the period to be appropriated9905€-60k€5k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-22k€-17k▲

Profit (loss) brought forward from the previous period14P€38k€-22k▼

The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 6Filings 10

2026

17-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 17 days late

2025

31-12

Financial Back to profitnet €5k

Net result €5k after one loss-making year.

31-01

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-06

Financial Weakest financial yearnet €-60k ▼896%

Net result drops to €-60k, the lowest in the series; recovery starts the following year.

30-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

30-06

Financial Liquidity doublescurrent ratio 2.44

Current ratio from 1.11 to 2.44; short-term debt falls from €64k to €55k.

21-02

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 21 days late

2022

15-03

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 43 days late

2021

30-06

Financial Highest result since 2019net €28k ▲235%

Operating result €33k, net result €28k, both a record.

30-06

Financial Liquidity triplescurrent ratio 1.03

Current ratio from 0.37 to 1.03.

28-01

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

30-06

Financial Back to profitnet €8k

Net result €8k after one loss-making year.

30-01

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

24-01

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

30-01

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2016

29-12

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

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

06-11-2025 Joris Moermans: Resigned as Director

31-03-2019 STROUVEN Franky: Resigned as Manager

Location & real-estate footprint

Registered office, Tongeren-Borgloon · 1 establishment unit since 2004

establishment approximate The establishment unit on the map

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.

Museumkwartier 33700 Tongeren-Borgloon

Ground area

673 m²

Parcel 73083C1067/00D000, Flanders. Linked by address, not a title deed.

1 establishment unit