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Complete company report
Generated 06-09-2026
Active BE 0451.772.550Non-profit association

Minard

Korianderstraat 13 ·9000 Gent, Belgium· 32 yrs active
Sector: Arts creation and performing arts activities (90311)
Conclusion Checked

Minard has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €381k and a net result of €19k. Its solvency ranks better than 60% of 537 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).

Based on the State Gazette, CBE and 1 annual account.
Key figures
Equity €381k
Net result €19k
Staff (FTE) 14.9
Better than sector 60%
Financial profile 4 of 5 axes measured · computed by Checked
Health86Profitability25Solvency100Growth-Stability85
74 / 100

Strong profile, led by solvency.

Computed on 4 of 5 axes. Not measured: growth. An unmeasured axis is not a zero: no data was read for it.

Health 86
Profitability 25
Solvency 100
Growth -
Stability 85
Bankruptcy probability (12 mo) Checked model v1 · free
< 0.1% Very low
0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 2 signals
Long-established
Founded in 1993, 32 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags0 events
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score FY 2024 · computed
86 / 100 Excellent
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€35k
estimate, not credit advice
Score components
Liquidity Current ratio 3.65 (≥ 1.5) +10
Quick ratio Quick ratio 3.56 (≥ 1.0) +5
Leverage Debt/equity 0.41 (< 1.0) +10
Profitability ROE 5% +3
Interest coverage Interest coverage 39.0× (≥ 3×) +8
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview4 NBB filings
Annual accounts filed on 26-06-2025 with the NBB · fiscal year 2024 · abbreviated schema
Sector comparison
Fiscal year 2024 · NACE 90, Arts creation and performing arts activities · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency 54.7% 45.9%
better than 60% of 537 sector peers
Net result €19k €24k
better than 46% of 538 sector peers
Equity €381k €276k
better than 58% of 537 sector peers
Gross operating margin €620k €249k
better than 72% of 517 sector peers
Staff costs €572k €313k
higher than 69% of 320 sector peers
Figures by fiscal year and ratios
Fiscal year2024
Depositabbreviated schema
Revenue-
EBITDA€52k
Net profit€19k
Cash flow€57k
Staff costs€572k
Income taxes-
Dividends-
Total assets€696k
Equity€381k
Debt€158k
of which ≤ 1y€158k
of which > 1y-
Working capital€419k
Employees (FTE)14.9
Ratios (computed)
2024
Current ratio3.65
Quick ratio3.56
Working capital ratio60.1%
Solvency54.7%
Debt / equity0.41
Long-term debt ratio-
Interest coverage39.01
Gross margin-
Net margin-
ROA2.7%
ROE4.9%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€696k
Fixed assets 21/28€120k
Tangible fixed assets 22/27€112k
Financial fixed assets 28€8k
Current assets 29/58€577k
Stocks & contracts in progress 3€14k
Amounts receivable within one year 40/41€20k
Cash & bank 54/58€539k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€696k
Equity 10/15€381k
Reserves 13€10k
Accumulated profits (losses) 14€371k
Provisions & deferred taxes 16€157k
Amounts payable 17/49€158k
Amounts payable within one year 42/48€158k
Trade debts payable within one year 44€46k
Income statement
Gross operating margin 9900€620k
Operating result 9901€14k
Financial income 75€6k
Financial charges 65€1k
Result before taxes 9903€19k
Net result for the period 9904€19k
Result to be appropriated 9905€19k
Directors & mandates 6 directors
Current directors & mandates
  • Delmeire Ilse
    Director
    State Gazette act 23096473 (27-07-2023)
    Current
    13-07-2023 → present
  • Devos Franky
    Director
    State Gazette act 21030916 (09-03-2021)
    Current
    13-01-2021 → present
  • Vander Steene Daan
    Director
    State Gazette act 23096473 (27-07-2023)
    Current
    13-01-2021 → present
    2 events
    • 13-07-2023 Mandate renewed· Director
    • 13-01-2021 Appointed· Director
Former directors (3)
  • Carl Gydé
    Director
    State Gazette act 23096473 (27-07-2023)
    Former
    - → 13-07-2023
  • Melens Kurt
    Director
    State Gazette act 21030916 (09-03-2021)
    Former
    - → 13-01-2021
  • Stefaan DE RUYCK
    Director
    State Gazette act 21030916 (09-03-2021)
    Former
    - → 13-01-2021
Legal Structure
NACE primary Arts creation and performing arts activities(90311)
Legal form Non-profit association(017)
Incorporation17-12-1993
StatusActive
Postal code9000
Connections & network 6 connected companies
Linked via shared directors
Show 2 more companies with a shared director
Establishment units 1 location
Minard vzw
Korianderstraat 13, 9000 GentNACE 92321
since 20072.159.735.385
Real-estate footprint Source: CBE × cadastre
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
44805E0024/00H000
ProtectedMonument · Townscape or village viewArchitectenwoning Louis MinardSource ↗
 Flanders 1,275 m² 1 · 1,247 m² 24.1 m · 6 fl.
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Updates 7 events
2025
26-06
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-05
State Gazette act Director changes
v3.2
2023
27-07
State Gazette act Director changes
v3.2
2021
09-03
State Gazette act Director changes
v3.2
2012
20-06
NBB filing Annual accounts filed
fiscal year 2011 · abbreviated schema
2011
14-06
NBB filing Annual accounts filed
fiscal year 2010 · abbreviated schema · 134 days late
2010
08-01
NBB filing Annual accounts filed
fiscal year 2009 · abbreviated schema
State Gazette actNBB filing
Belgian State Gazette reading coverage 0 of 7 acts read

We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 3 acts
All acts · 3 updated 2 years ago
2024
24-05-2024 Change in the board of directors Director changes
Summary: v3.2
Technical details 
{
  "events": [],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0451.772.550",
    "name_full": "MINARD",
    "legal_form": "VZW"
  }
}
2023
27-07-2023 1 director appointed, 1 resigning, 1 reappointed Director changes
  • Delmeire Ilse, Bestuurder
  • Carl Gydé, Bestuurder
  • Vander Steene Daan, Bestuurder
Summary: v3.2
Technical details 
{
  "events": [
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Delmeire Ilse",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2023-07-13",
      "evidence_quote": "De Algemene Vergadering van de vzw, in vergadering van 21 december 2022, benoemt, in toepassing van artikel 5 van de statuten van de vereniging, volgende bestuurders met ingang van heden: Delmeire llse, Bernard Spaelaan 46, 9000 Gent,\u00B0 06/06/1978 - RRnr 78.06.06-436.94, penningmeester"
    },
    {
      "kind": "director_renew",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Vander Steene Daan",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2023-07-13",
      "evidence_quote": "De Algemene Vergadering van de vzw, in vergadering van 21 december 2022, herbenoemt, in toepassing van artikel 5 van de statuten van de vereniging, volgende bestuurders met ingang van heden: - Vander Steene Daan, Kortedreef 30, 9040 Sint-Amandsberg \u00B05/12/1978- RRnr 78.12.05-161.53, voorzitter"
    },
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Carl Gyd\u00E9",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2023-07-13",
      "evidence_quote": "de Algemene Vergadering van de vzw, in vergadering van 22/12/2022, ontslaat volgende bestuurders met ingang van heden: Carl Gyd\u00E9, Clarissenstraat 16, 9000 Gent, \u00B017/07/1962 - RRnr 62.07.17-249.10"
    }
  ],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0451.772.550",
    "name_full": "MINARD",
    "legal_form": "VZW"
  }
}
2021
09-03-2021 2 directors appointed, 2 resigning Director changes
  • Devos Franky, Bestuurder
  • Vander Steene Daan, Bestuurder
  • De Ruyck Stefaan, Bestuurder
  • Melens Kurt, Bestuurder
Summary: v3.2
Technical details 
{
  "events": [
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Devos Franky",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2021-01-13",
      "evidence_quote": "De Algemene Vergadering van de vzw, in vergadering van 13/01/21, benoemt, In toepassing van artikel 5 van de statuten van de vereninging, volgende bestuurders met ingang van heden: Devos Franky, Bruggsetraat 24, 8755 Ruiselede, \u00B021/01/1970, RRnr 70.01.21-221.44, secretaris"
    },
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Vander Steene Daan",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2021-01-13",
      "evidence_quote": "De Algemene Vergadering van de vzw, in vergadering van 13/01/21, benoemt, In toepassing van artikel 5 van de statuten van de vereninging, volgende bestuurders met ingang van heden: Vander Steene Daan, Kortedreef 30, 9040 Sint-Amandsberg\u00B0 05/12/1978 - RRnr: 78.12.05-161.53, penningmeester"
    },
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "De Ruyck Stefaan",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2021-01-13",
      "evidence_quote": "de Algemene Vergadering van de vzw, in vergadering van 13/01/21, ontslaat volgende bestuurders met ingang van heden: - De Ruyck Stefaan, Fransevaart 26, 9050 Ledeberg \u00B018/09/1957- RRnr 57.09.18-177.58"
    },
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Melens Kurt",
        "address": null,
        "birth_date": null
      },
      "effective_date": "2021-01-13",
      "evidence_quote": "de Algemene Vergadering van de vzw, in vergadering van 13/01/21, ontslaat volgende bestuurders met ingang van heden: - Melens Kurt, Ommegangstraat 43, 9240 Zele \u00B008/08/1969 - RRnr 69.08.08-349.43"
    }
  ],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0451.772.550",
    "name_full": "MINARD",
    "legal_form": "VZW"
  }
}
Credit advice verdict per customer and amount
Company registry (CBE) Crossroads Bank
Activities
Arts creation and performing arts activities90311Cafés and bars56301
Names & trade names
Legal nameNL Minard
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative

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