L'ETAL
ActiveL'ETAL has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.20M and a net result of €-110k. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 61% of 7993 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability19▼-51
Solvency80=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 6.06 against 12.07 in 2024; short-term debt: 7.1% and cash: 20.9% of total assets), and 44.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 46
Relative position
BE, all sectors
reference
Sector 46
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 2025Solvency, return and age of the figures
Solvency
55.2%
Return on assets
-5.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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
24 d late
2024
25 d late
2023
58 d late
2022
41 d early
2021
39 d early
2020
18 d early
2019
66 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€3.70M▼ 1.2%
2021 · €3.74M
2018: €3.02M
2019: €2.84M
2020: €3.44M
2021: €3.74M
2018 → 2022
EBIT margin
10.9%▼ 4.2pp
2021 · 15.1%
2018: 4.3%
2019: -4.1%
2020: 5.1%
2021: 15.1%
2018 → 2022
Net result
€-110k
2024 · €31k
2018: €47k
2019: €-190k
2020: €106k
2021: €484k
2022: €370k
2023: €-72k
2024: €31k
2018 → 2025
Working capital
€774k▼ 18.3%
2024 · €948k
2018: €327k
2019: €255k
2020: €511k
2021: €462k
2022: €859k
2023: €807k
2024: €948k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€3.74M-€3.70M▼ 1.2%
Equity€977k-€1.35M▲ 37.9%€1.27M▼ 5.3%€1.31M▲ 2.5%€1.20M▼ 8.5%
Operating result€564k-€404k▼ 28.4%€-41k€66k€-90k
Net result€484k-€370k▼ 23.6%€-72k€31k€-110k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €90k after €66k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.17M
Fixed assets
€1.24M▼ 7.9%
Current assets
€927k▼ 10.3%
Equity and liabilities €2.17M
Equity
€1.20M▼ 8.5%
Debt
€972k▼ 9.5%
The debt ratio falls from 45.1% to 44.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€16k▼
2024 · €167k
Cash flow
€-4k▼
2024 · €132k
Solvency
55.2%▲
2024 · 54.9%
Current ratio
6.06▼
2024 · 12.07
Quick ratio
6.06▼
2024 · 12.07
Debt / equity
0.81▼
2024 · 0.82
ROE
-9.2%▼
2024 · 2.4%
ROA
-5.1%▼
2024 · 1.3%
Interest coverage
0.75▼
2024 · 7.97
Debt
€972k▼
2024 · €1.07M
Debt ≤ 1 year
€153k▲
2024 · €86k
Debt > 1 year
€812k▼
2024 · €983k
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€2.38M€2.17M▼
Fixed assets21/28€1.35M€1.24M▼
Tangible fixed assets22/27€1.34M€1.23M▼
Land and buildings22€1.25M€1.17M▼
Plant, machinery and equipment23€56k€46k▼
Furniture and vehicles24€30k€17k▼
Financial fixed assets28€7k€7k=
Current assets29/58€1.03M€927k▼
Amounts receivable within one year40/41€588k€472k▼
Trade receivables40€72k-
Other amounts receivable41€516k€472k▼
Cash at bank and in hand54/58€442k€453k▲
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€2.38M€2.17M▼
Equity10/15€1.31M€1.20M▼
Contributions10/11€74k€74k=
Capital10€74k€74k=
Issued capital100€74k€74k=
Revaluation surpluses12€1.67M€1.67M=
Reserves13€570k€570k=
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Tax-exempt reserves132€562k€562k=
Profit (loss) carried forward14€-1.01M€-1.12M▼
Amounts payable17/49€1.07M€972k▼
Amounts payable after more than one year17€983k€812k▼
Financial debts170/4€983k€812k▼
Amounts payable within one year42/48€86k€153k▲
Current portion of amounts payable after more than one year42€77k€76k▼
Trade debts44€6k€6k▼
Suppliers440/4€6k€6k▼
Advances received on contracts in progress46€2k-
Other amounts payable47/48-€72k
Accrued charges and deferred income492/3€6k€8k▲
Income statement
Code20242025
Remuneration, social security and pensions62€33k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€101k€106k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€11k€71k▲
Other operating charges640/8€7k€873▼
Gross operating margin9900€218k€88k▼
Operating profit (loss)9901€66k€-90k▼
Financial income75/76B€1k€1k▼
Recurring financial income75€1k€1k▼
Financial charges65/66B€21k€21k▲
Recurring financial charges65€21k€21k▲
Profit (loss) for the period before taxes9903€47k€-110k▼
Income taxes67/77€15k-
Profit (loss) for the period9904€31k€-110k▼
Transfer to tax-exempt reserves689€63k-
Profit (loss) for the period to be appropriated9905€-32k€-110k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.01M€-1.12M▼
Profit (loss) brought forward from the previous period14P€-976k€-1.01M▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Back to profitnet €31k
Net result €31k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 12.07
Current ratio from 3.53 to 12.07; short-term debt falls from €319k to €86k.
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €1MEq €1.35M ▲37.9%
3 profitable years in a row build equity to €1.35M.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €484k ▲358%
Operating result €564k, net result €484k, both a record.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €106k
Net result €106k after one loss-making year.
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-190k ▼503%
Net result drops to €-190k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €713k
Equity rises from €-1.09M to €713k.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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 2004
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.
Z.A.S. du Scailmont SN7170 ManageGround area
1.4 ha
Building footprint
4,269 m²
Volume, LiDAR
26,556 m³
Parcel 53065A0467/00K005, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
l'etal
since 20042.142.140.575
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53065A0467/00K005 | Wallonia | 1.4 ha | 1 · 4,269 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via establishment units: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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L.G.F.
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Of 956 companies in sector 46319 we hold annual accounts for 609. 400 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-07-1990
Fiscal year end31-12
Activities, NACEBEL
46319Wholesale of fruit and vegetables, excluding potatoes
51310
47279Other retail sale of food
47299Retail trade
52272
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.