L'EXPERT
ActiveSummary
L'EXPERT has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23,835 and a net result of €6,260. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 53% of 11508 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+5
Solvency71▲+30
Growth72▲+13
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.46 against 0.76 in 2024; short-term debt: 35.4% and cash: 0.5% of total assets), and 54% of the assets are financed with debt.
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Signals
Four 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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
46%
Return on assets
12.1%
Age of the figures
9 mo
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 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
305 d late
2023
37 d early
2022
48 d early
2021
2 d late
2020
73 d early
2019
73 d early
← 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 3 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 25 June (4 of the last 5 filed years within 38 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€107,779▲ 9.1%
2022 · €98,774
EBIT margin
6.3%▲ 0.1pp
2022 · 6.3%
Net result
€6,260▲ 30.3%
2024 · €4,804
Working capital
€8,453
2024 · -€7,155
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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
Turnover€93,590▲ 34.9%€98,774▲ 5.5%€107,779▲ 9.1%
Operating result-€6,381€6,203€6,842▲ 10.3%€10,386▲ 51.8%€11,744▲ 13.1%
Net result-€5,692below the sector's middle half€3,997within the sector's middle half€1,448within the sector's middle half▼ 63.8%€4,804within the sector's middle half▲ 232%€6,260within the sector's middle half▲ 30.3%
EBIT margin-6.8%▼ 31.5pp6.3%▲ 13.1pp6.3%▲ 0.1pp
Equity€16,787within the sector's middle half▼ 25.3%€20,783within the sector's middle half▲ 23.8%€14,171within the sector's middle half▼ 31.8%€8,975within the sector's middle half▼ 36.7%€23,835within the sector's middle half▲ 166%
Total assets€25,765below the sector's middle half▲ 1.9%€32,314below the sector's middle half▲ 25.4%€34,191below the sector's middle half▲ 5.8%€56,367below the sector's middle half▲ 64.9%€51,862below the sector's middle half▼ 8.0%
Debt€8,979▲ 219%€11,530▲ 28.4%€20,020▲ 73.6%€47,392▲ 137%€28,028▼ 40.9%
Working capital€12,430within the sector's middle half▼ 37.8%€15,586within the sector's middle half▲ 25.4%€10,009within the sector's middle half▼ 35.8%-€7,155within the sector's middle half€8,453within the sector's middle half
Solvency65.2%within the sector's middle half▼ 23.7pp64.3%within the sector's middle half▼ 0.8pp41.4%within the sector's middle half▼ 22.9pp15.9%within the sector's middle half▼ 25.5pp46.0%within the sector's middle half▲ 30.0pp
Current ratio2.38within the sector's middle half▼ 5.722.35within the sector's middle half▼ 0.031.50within the sector's middle half▼ 0.850.76below the sector's middle half▼ 0.741.46within the sector's middle half▲ 0.70
Return on assets (ROA)-22.1%below the sector's middle half▼ 89.6pp12.4%within the sector's middle half▲ 34.5pp4.2%within the sector's middle half▼ 8.1pp8.5%within the sector's middle half▲ 4.3pp12.1%within the sector's middle half▲ 3.5pp
Staff (FTE)1▲ 25.0%1=1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale 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 has risen four years in a row; 2025 is 13% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €51,321
Fixed assets
€24,516 ▼ 24.9%
Current assets
€26,805 ▲ 16.9%
Equity and liabilities €51,862
Equity
€23,835 ▲ 166%
Debt
€28,028 ▼ 40.9%
Debt's share of the balance-sheet total falls from 84.1% to 54.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€20,114▲
2024 · €19,131
Cash flow
€14,630▲
2024 · €13,548
Debt to equity
1.18▼
2024 · 5.28
ROE
26.3%▼
2024 · 53.5%
Interest coverage
21.06▲
2024 · 13.57
Debt ≤ 1 year
€18,352▼
2024 · €30,095
Debt > 1 year
€9,276▼
2024 · €16,874
Income taxes
€4,530▲
2024 · €4,188
Staff costs
€38,390▼
2024 · €39,170
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 34,696 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €93,590 | €98,774 | €107,779 | - | - | - |
| Non-recurring operating income76A | €0 | €0 | €0 | - | €394 | - |
| Goods, raw materials, services and sundry goods60/61 | €68,408 | €58,723 | €61,726 | - | - | - |
| Remuneration, social security and pensions62 | €30,047 | €32,122 | €37,004 | €39,170 | €38,390 | ▼ 2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €872 | €1,466 | €2,138 | €8,744 | €8,370 | ▼ 4.3% |
| Other operating charges640/8 | - | - | €50 | €2,909 | €626 | ▼ 78.5% |
| Non-recurring operating charges66A | €644 | €259 | €20 | €85 | €45 | ▼ 47.1% |
| Gross operating margin9900 | €25,182 | €40,051 | €46,053 | €61,295 | €59,176 | ▼ 3.5% |
| Operating profit (loss)9901 | -€6,381 | €6,203 | €6,842 | €10,386 | €11,744 | ▲ 13.1% |
| Financial income75/76B | €1,383 | €851 | €0 | €16 | €1 | ▼ 94.4% |
| Recurring financial income75 | €1,383 | €851 | €0 | €16 | €1 | ▼ 94.4% |
| Non-recurring financial income76B | €0 | €0 | €0 | - | - | - |
| Financial charges65/66B | €79 | €473 | €78 | €1,410 | €955 | ▼ 32.3% |
| Recurring financial charges65 | €79 | €473 | €78 | €1,410 | €955 | ▼ 32.3% |
| Non-recurring financial charges66B | €0 | €0 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€5,076 | €6,582 | €6,764 | €8,992 | €10,790 | ▲ 20.0% |
| Income taxes67/77 | €616 | €2,585 | €5,316 | €4,188 | €4,530 | ▲ 8.2% |
| Profit (loss) for the period9904 | -€5,692 | €3,997 | €1,448 | €4,804 | €6,260 | ▲ 30.3% |
| Profit (loss) for the period to be appropriated9905 | -€5,692 | €3,997 | €1,448 | €4,804 | €6,260 | ▲ 30.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25,765 | €32,314 | €34,191 | €56,367 | €51,862 | ▼ 8.0% |
| Formation expenses20 | €0 | €0 | €982 | €762 | €541 | ▼ 28.9% |
| Fixed assets21/28 | €4,357 | €5,197 | €3,179 | €32,666 | €24,516 | ▼ 24.9% |
| Tangible fixed assets22/27 | €4,197 | €5,037 | €3,019 | €32,506 | €24,356 | ▼ 25.1% |
| Plant, machinery and equipment23 | - | €0 | €0 | - | - | - |
| Furniture and vehicles24 | €4,197 | €5,037 | €3,019 | €32,506 | €24,356 | ▼ 25.1% |
| Leasing and similar rights25 | - | €0 | €0 | - | - | - |
| Other tangible fixed assets26 | - | €0 | €0 | - | - | - |
| Assets under construction and advance payments27 | - | €0 | €0 | - | - | - |
| Financial fixed assets28 | €160 | €160 | €160 | €160 | €160 | = |
| Current assets29/58 | €21,408 | €27,117 | €30,029 | €22,939 | €26,805 | ▲ 16.9% |
| Amounts receivable within one year40/41 | €15,107 | €14,373 | €1,308 | €8,781 | €26,413 | ▲ 201% |
| Trade receivables40 | €3,220 | €1,636 | €1,308 | €6,969 | €15,816 | ▲ 127% |
| Other amounts receivable41 | €11,887 | €12,736 | €0 | €1,812 | €10,597 | ▲ 485% |
| Cash at bank and in hand54/58 | €6,301 | €12,744 | €28,622 | €14,002 | €235 | ▼ 98.3% |
| Deferred charges and accrued income490/1 | €0 | €0 | €99 | €157 | €157 | ▲ 0.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25,765 | €32,314 | €34,191 | €56,367 | €51,862 | ▼ 8.0% |
| Equity10/15 | €16,787 | €20,783 | €14,171 | €8,975 | €23,835 | ▲ 166% |
| Contributions10/11 | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | €0 | - | - | - | - | - |
| Uncalled capital101 | €0 | - | - | - | - | - |
| Outside capital11 | €6,200 | - | - | - | - | - |
| Share premium1100/10 | €6,200 | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €0 | - | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Legal reserve130 | €0 | - | - | - | - | - |
| Other1319 | €1,860 | €1,860 | €0 | - | - | - |
| Profit (loss) carried forward14 | €8,727 | €12,723 | €14,171 | €8,975 | €23,835 | ▲ 166% |
| Amounts payable17/49 | €8,979 | €11,530 | €20,020 | €47,392 | €28,028 | ▼ 40.9% |
| Amounts payable after more than one year17 | - | - | - | €16,874 | €9,276 | ▼ 45.0% |
| Financial debts170/4 | - | - | - | €16,874 | €9,276 | ▼ 45.0% |
| Amounts payable within one year42/48 | €8,979 | €11,530 | €20,020 | €30,095 | €18,352 | ▼ 39.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,285 | €7,597 | ▲ 4.3% |
| Trade debts44 | €4,554 | €4,664 | €2,349 | €251 | €2,194 | ▲ 774% |
| Suppliers440/4 | €4,554 | €4,664 | €2,349 | €251 | €2,194 | ▲ 774% |
| Taxes, remuneration and social security45 | €4,425 | €6,866 | €14,962 | €9,723 | €6,930 | ▼ 28.7% |
| Taxes450/3 | €3,246 | €3,668 | €8,403 | €5,235 | €615 | ▼ 88.2% |
| Remuneration and social security454/9 | €1,179 | €3,199 | €6,560 | €4,488 | €6,315 | ▲ 40.7% |
| Other amounts payable47/48 | - | - | €2,709 | €12,835 | €1,630 | ▼ 87.3% |
| Accrued charges and deferred income492/3 | - | - | - | €424 | €400 | ▼ 5.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,692 | €3,997 | €1,448 | €4,804 | €6,260 | ▲ 30.3% |
| + Depreciation and write-downs630 | €872 | €1,466 | €2,138 | €8,744 | €8,370 | ▼ 4.3% |
| Operating cash flow (approximation) | -€4,820 | €5,463 | €3,586 | €13,548 | €14,630 | ▲ 8.0% |
| Investment in fixed assets (approximation) | - | -€2,307 | -€120 | -€38,230 | -€221 | ▲ 99.4% |
| Change in cash | - | €6,443 | €15,878 | -€14,620 | -€13,767 | ▲ 5.8% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
01-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 305 days late
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €3,997
Net result €3,997 after one loss-making year.
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
19-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €17,083
Net result €17,083 after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 8.10
Current ratio from 1.61 to 8.10; short-term debt falls from €7,477 to €2,813.
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€6,416
Net result drops to -€6,416, the lowest in the series; recovery starts the following year.
13-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-05
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 4 acts read
About the unread acts
We know of 4 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
4 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, Saint-Ghislain · 1 establishment unit since 2016
Ground area
3,658 m²
Building footprint
370 m²
Volume, LiDAR
2,089 m³
Parcel 53009E0122/00G000, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
L'Expert
since 20162.250.437.117
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53009E0122/00G000 | Wallonia | 3,658 m² | 1 · 370 m² | 7.9 m · 2 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 1,136 companies in sector 46130 we hold annual accounts for 647. 417 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
Founded18-02-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46130Agents in the wholesale of timber and building materials
46190Agents in non-specialised wholesale trade
47120Other non-specialised retail sale
82990Other business support services
Contact
Phone
0497/587606Saint-Ghislain
E-invoicing
Reachable via Peppol
Peppol ID
0208:0648796871
Also
9925:BE0648796871
Registered
31-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.