Little Cheese Farm

Active

Private limited companyfounded 20196 yrs activeMalsemstraat 20, 9880 Aalter, BelgiumKBO/BCE: BE 0738.450.409

The computed 12-month bankruptcy probability of Little Cheese Farm is 1.9% (moderate). The 2025 annual accounts show equity of €82k and a net result of €-29k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 796 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

45 / 100

Fair

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

Axes · tick = 2024

Profitability42▲+42

Solvency29=

Growth58▲+26

Track record100

Bankruptcy probability, 12 months

1.9% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €3.5k at 30 days acceptable

Liquidity short (current ratio 0.7 against 0.85 in 2024; short-term debt: 49.7% and cash: 4.2% of total assets), and 96.4% 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

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

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

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 →

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

202122232425

2020 to 2025 · latest year €-29k

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 796 sector peers (2025).

NBB · sector comparison

Position among 796 sector peers

Solvency

better than 15%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-04-2026, 92 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

92 d early

2024

1 d early

2023

23 d early

2022

41 d early

2021

11 d late

2020

31 d late

← before the deadline after the deadline →

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 months

Position in the running window

21-09-2026 today31-12-2026 close31-07-2027 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, abbreviated schema

Equity

€82k▼ 26.1%

2024 · €111k

2020: €324k 2021: €110k 2022: €-196k 2023: €-158k 2024: €111k

2020 → 2025

Total assets

€2.25M▼ 11.9%

2024 · €2.56M

2020: €821k 2021: €1.91M 2022: €2.20M 2023: €2.55M 2024: €2.56M

2020 → 2025

Net result

€-29k▲ 95.3%

2024 · €-611k

2020: €-357k 2021: €-214k 2022: €-306k 2023: €-362k 2024: €-611k

2020 → 2025

Working capital

€-335k▼ 99.9%

2024 · €-168k

2020: €-184k 2021: €-453k 2022: €-865k 2023: €-363k 2024: €-168k

2020 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€110k-€-196k€-158k▲ 19.5%€111k€82k▼ 26.1%

Operating result€-180k-€-255k▼ 41.3%€-278k▼ 9.0%€-504k▼ 81.6%€43k

Net result€-214k-€-306k▼ 42.9%€-362k▼ 18.3%€-611k▼ 69.0%€-29k▲ 95.3%

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

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €43k after a loss of €504k in 2024, the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.25M

65.1%

34.9%

Fixed assets €1.47M▼ 9.1%

Current assets €785k▼ 16.8%

Equity and liabilities €2.25M

96.4%

Equity €82k▼ 26.1%

Debt €2.17M▼ 11.3%

The debt ratio rises from 95.7% to 96.4%. Equity and debt are lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€216k▲

2024 · €-335k

Cash flow

€144k▲

2024 · €-442k

Solvency

3.6%▼

2024 · 4.3%

Current ratio

0.70▼

2024 · 0.85

Quick ratio

0.46▼

2024 · 0.64

Debt / equity

26.48▲

2024 · 22.05

ROE

-35.4%▲

2024 · -550.7%

ROA

-1.3%▲

2024 · -23.9%

Interest coverage

2.96▲

2024 · -2.98

Debt

€2.17M▼

2024 · €2.45M

Debt ≤ 1 year

€1.12M▲

2024 · €1.11M

Debt > 1 year

€1.03M▼

2024 · €1.32M

Income taxes

€219▲

2024 · €161

Staff costs

€529k▼

2024 · €555k

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€2.56M€2.25M▼

Fixed assets21/28€1.61M€1.47M▼

Intangible fixed assets21€157k€145k▼

Tangible fixed assets22/27€1.46M€1.32M▼

Plant, machinery and equipment23€1.24M€1.12M▼

Furniture and vehicles24€47k€42k▼

Other tangible fixed assets26€166k€160k▼

Financial fixed assets28€155€155=

Current assets29/58€944k€785k▼

Stocks and contracts in progress3€237k€267k▲

Stocks30/36€237k€267k▲

Amounts receivable within one year40/41€398k€417k▲

Trade receivables40€364k€410k▲

Other amounts receivable41€34k€6k▼

Cash at bank and in hand54/58€302k€94k▼

Deferred charges and accrued income490/1€8k€8k▲

Equity and liabilities

Total equity and liabilities10/49€2.56M€2.25M▼

Equity10/15€111k€82k▼

Contributions10/11€1.96M€1.96M=

Profit (loss) carried forward14€-1.85M€-1.88M▼

Amounts payable17/49€2.45M€2.17M▼

Amounts payable after more than one year17€1.32M€1.03M▼

Financial debts170/4€1.32M€1.03M▼

Amounts payable within one year42/48€1.11M€1.12M▲

Current portion of amounts payable after more than one year42€283k€291k▲

Financial debts43€300k€300k=

Credit institutions430/8€300k€300k=

Trade debts44€446k€450k▲

Suppliers440/4€446k€450k▲

Taxes, remuneration and social security45€82k€79k▼

Taxes450/3€20k€13k▼

Remuneration and social security454/9€62k€66k▲

Other amounts payable47/48€2k-

Accrued charges and deferred income492/3€14k€20k▲

Income statement Code20242025

Non-recurring operating income76A€81k€772▼

Remuneration, social security and pensions62€555k€529k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€169k€173k▲

Other operating charges640/8€41k€35k▼

Non-recurring operating charges66A€30k€25k▼

Gross operating margin9900€291k€804k▲

Operating profit (loss)9901€-504k€43k▲

Financial income75/76B€5k€1k▼

Recurring financial income75€5k€1k▼

Financial charges65/66B€112k€73k▼

Recurring financial charges65€112k€73k▼

Non-recurring financial charges66B-€375

Profit (loss) for the period before taxes9903€-611k€-29k▲

Income taxes67/77€161€219▲

Profit (loss) for the period9904€-611k€-29k▲

Profit (loss) for the period to be appropriated9905€-611k€-29k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-1.85M€-1.88M▼

Profit (loss) brought forward from the previous period14P€-1.24M€-1.85M▼

Social balance

Average headcount (FTE)90879.18.9▼

The notes to these accounts (23 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 8Financial 2Filings 6

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-04

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

30-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Weakest financial yearnet €-611k

Net result drops to €-611k, the lowest in the series; recovery starts the following year.

31-12

Financial Equity above €100kEq €111k

Equity rises from €-158k to €111k.

08-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

20-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

11-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 11 days late

2021

31-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 31 days late

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 2024

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.

31-05-2024 Michiel Baetens: Resigned as Director

29-02-2024 Braleco Holding: Resigned as Daily management

05-06-2023 Frederik BRANDS: Resigned as Director

Location & real-estate footprint

Registered office, Aalter · 1 establishment unit since 2019

establishment 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.

Malsemstraat 209880 Aalter

Ground area

1,521 m²

Building footprint