L'EPI D'OR
ActiveL'EPI D'OR has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €991k and a net result of €34k. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 72% of 864 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
83
/ 100
Excellent▼ -10 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability17▼-58
Solvency93▼-2
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 1.81 against 1.92 in 2023), and 46% of the assets are financed with debt.
Credit advice 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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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 2024Solvency, return and age of the figures
Solvency
54%
Return on assets
1.8%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
34 d early
2022
31 d early
2021
26 d early
2020
31 d early
2019
31 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€34k▼ 78.7%
2023 · €158k
2018: €85k
2019: €305k
2020: €381k
2021: €324k
2022: €240k
2023: €158k
2018 → 2024
Working capital
€585k▼ 4.5%
2023 · €613k
2018: €-191k
2019: €142k
2020: €502k
2021: €715k
2022: €556k
2023: €613k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€956k-€1.24M▲ 29.8%€1.03M▼ 17.0%€1.06M▲ 2.7%€991k▼ 6.3%
Operating result€455k-€459k▲ 0.9%€330k▼ 28.2%€225k▼ 31.8%€44k▼ 80.3%
Net result€381k-€324k▼ 15.0%€240k▼ 26.0%€158k▼ 34.3%€34k▼ 78.7%
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 80% below 2023 and is the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.83M
Fixed assets
€529k▼ 18.4%
Current assets
€1.30M▲ 2.0%
Equity and liabilities €1.83M
Equity
€991k▼ 6.3%
Debt
€843k▼ 3.1%
The debt ratio rises from 45.1% to 46.0%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€203k▼
2023 · €387k
Cash flow
€193k▼
2023 · €320k
Solvency
54.0%▼
2023 · 54.9%
Current ratio
1.81▼
2023 · 1.92
Quick ratio
1.75▼
2023 · 1.84
Debt / equity
0.85▲
2023 · 0.82
ROE
3.4%▼
2023 · 14.9%
ROA
1.8%▼
2023 · 8.2%
Interest coverage
13.18▼
2023 · 22.60
Debt
€843k▼
2023 · €870k
Debt ≤ 1 year
€720k▲
2023 · €666k
Debt > 1 year
€123k▼
2023 · €204k
Income taxes
€4k▼
2023 · €52k
Staff costs
€1.32M▲
2023 · €1.31M
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.93M€1.83M▼
Fixed assets21/28€649k€529k▼
Tangible fixed assets22/27€649k€529k▼
Land and buildings22€308k€264k▼
Plant, machinery and equipment23€117k€91k▼
Furniture and vehicles24€17k€5k▼
Leasing and similar rights25€206k€169k▼
Current assets29/58€1.28M€1.30M▲
Stocks and contracts in progress3€56k€48k▼
Stocks30/36€56k€48k▼
Amounts receivable within one year40/41€150k€130k▼
Trade receivables40€110k€103k▼
Other amounts receivable41€41k€27k▼
Current investments50/53€300k€370k▲
Cash at bank and in hand54/58€766k€694k▼
Deferred charges and accrued income490/1€7k€63k▲
Equity and liabilities
Total equity and liabilities10/49€1.93M€1.83M▼
Equity10/15€1.06M€991k▼
Contributions10/11€100k€100k=
Reserves13€631k€631k=
Non-distributable reserves130/1€10k€10k=
Reserves not available under the articles1311-€10k
Other1319€10k-
Tax-exempt reserves132€300k€300k=
Distributable reserves133€321k€321k=
Profit (loss) carried forward14€327k€260k▼
Amounts payable17/49€870k€843k▼
Amounts payable after more than one year17€204k€123k▼
Financial debts170/4€204k€123k▼
Amounts payable within one year42/48€666k€720k▲
Current portion of amounts payable after more than one year42€203k€197k▼
Trade debts44€206k€262k▲
Suppliers440/4€206k€262k▲
Taxes, remuneration and social security45€157k€159k▲
Taxes450/3€2k€2k▲
Remuneration and social security454/9€155k€157k▲
Other amounts payable47/48€100k€103k▲
Income statement
Code20232024
Non-recurring operating income76A€7k€3k▼
Remuneration, social security and pensions62€1.31M€1.32M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€162k€159k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€42k€0▼
Other operating charges640/8€20k€20k▲
Gross operating margin9900€1.76M€1.54M▼
Operating profit (loss)9901€225k€44k▼
Financial income75/76B€2k€9k▲
Recurring financial income75€2k€9k▲
Financial charges65/66B€17k€15k▼
Recurring financial charges65€17k€15k▼
Profit (loss) for the period before taxes9903€210k€38k▼
Income taxes67/77€52k€4k▼
Profit (loss) for the period9904€158k€34k▼
Profit (loss) for the period to be appropriated9905€158k€34k▼
Appropriation of the result
Profit (loss) to be appropriated9906€457k€360k▼
Profit (loss) brought forward from the previous period14P€299k€327k▲
Profit to be distributed694/7€130k€100k▼
Return on contributions (dividend)694€130k€100k▼
Social balance
Average headcount (FTE)908724.123.8▼
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €34k ▼78.7%
Net result drops to €34k, the lowest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €1MEq €1.24M ▲29.8%
4 profitable years in a row build equity to €1.24M.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €381k ▲24.8%
Net result €381k, the highest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €500kEq €587k ▲118%
2 profitable years in a row build equity to €587k.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Manage · 1 establishment unit since 1985
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.
Rue de la Station 827170 ManageGround area
181 m²
Building footprint
104 m²
Volume, LiDAR
1,002 m³
Parcel 52006B0137/00E019, Wallonia · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
L'EPI D'OR
since 19852.026.215.083
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52006B0137/00E019indicative | Wallonia | 181 m² | 1 · 104 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteManage2.026.215.083
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Of 4,200 companies in sector 10712 we hold annual accounts for 1,851. 900 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-01-1985
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
15812
47241Retail sale of bread and pastry (bakery outlets)
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.