Equity
€950,928 from €2.7m in 2021
Equity fell by 65% in 3 years.
Multi-Fish
Lifetime
16 annual accounts with figures on one time axispeak €1.6m (2019)
-not published
lowest -€1.1m (2022)
-€70,272▲ €561,402
peak €2.7m (2021)
€950,928▼ 6.9%
€17.5m▲ 0.3%
peak 17.1 FTE (2017)
13 FTE▼ 15.6%
Board5 names since 2018
2 directorsFOX HOLDINGS and 1 other
Owners2 names in the annual accounts
99.91%FOX HOLDINGS and 1 other
Documentsfilings and deeds
07-11-202599 days late
2024financial year
Turnover from €46.7m to €52.6mLoss of €70,272Staff from 15.4 FTE to 13 FTEInvestments €195,518
Key points
from the 2024 annual accountsLosses
-€1.8m in three years
Every financial year from 2022 to 2024 closed with a loss. 2022 was the heaviest.
Debts
€17.5m 94% of the balance sheet
Financial debts 16%Suppliers 34%Taxes and wages 1%Other 49%
€9.2m of the debts are secured on the company's own assets. In 2021 that was €3.7m.
Securities
€5.5m
Pledge on the business, new in 2024. 5.8 times equity · not in the 2023 accounts.
Filings
16 annual accounts 17 filings, 102 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
Position in the sector
5.1%
Lower solvency than 89% of companies in wholesale trade. Sector median 42.0% · 6,059 companies.
Checked score
48
Fair
Financially stronger than 20% of small companies in wholesale trade (NACE 46)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.2% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 4,374 companies (NACE 46, small).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 5.5%
01-2025: 8.1%▲ +2.6 percentage points vs 12-2024highest value
02-2025: 8.1%● unchanged vs 01-2025highest value
03-2025: 1.8%▼ -6.3 percentage points vs 02-2025
04-2025: 1.8%● unchanged vs 03-2025
05-2025: 1.8%● unchanged vs 04-2025
06-2025: 1.8%● unchanged vs 05-2025
07-2025: 2.0%▲ +0.2 percentage points vs 06-2025
08-2025: 2.6%▲ +0.6 percentage points vs 07-2025
09-2025: 3.1%▲ +0.5 percentage points vs 08-2025
10-2025: 4.1%▲ +1.0 percentage point vs 09-2025
11-2025: 4.1%● unchanged vs 10-2025
12-2025: 1.2%▼ -2.9 percentage points vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.1%▼ -0.1 percentage points vs 04-2026lowest value
06-2026: 1.2%▲ +0.1 percentage points vs 05-2026
07-2026: 1.3%▲ +0.1 percentage points vs 06-2026
08-2026: 2.0%▲ +0.7 percentage points vs 07-2026
09-2026: 2.4%▲ +0.4 percentage points vs 08-2026
10-2026: 3.2%▲ +0.8 percentage points vs 09-2026
11-2026: 3.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Figures for financial year 2024 (filed on 08-11-2025)
Liquidity: current ratio 1.04, cash €885,481
Equity €950,928 (5.1% of total assets)
lowers risk
Founded in 2007
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small). It does better than 8% of them on solvency, 6% on liquidity, 15% on profitability and 51% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 912 companies had the same profile as Multi-Fish has now. Each dot stands for 3 companies, two years later.
95.3%
were still trading
2.1%
stopped another way
2.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Multi-Fish itself is higher: 3.2% within 12 months. It rests on far more data about Multi-Fish than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 912 companies, not a prediction for Multi-Fish. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €45,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity is tight, with a current ratio of 1.04 (1.06 in 2023), below the usual 1.5. Short-term debt is 94.1% and cash 4.8% of total assets. 94.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Eight signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
19202021222324
2019 to 2024 · latest year -€70,272
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 6059 sector peers (2024).
NBB · sector comparisonPosition among 6059 sector peers
Solvency
better than 10%
← weakest
strongest →
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 102 days later.
NBB · 10 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline10-11-2026 today
raises risk · 2024 accounts filed 99 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-11-2025, 99 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
99 days late
2023
203 days late
2022
241 days late
2021
318 days late
2020
89 days late
2020
73 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 171 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (1)
Board and ownership
VN
VERBIEST NV
Director, Rose Marry-Anne van Nieuwkerk
- FOX HOLDINGS 99.91%score 36equity -€1.6m (2024) · annual accounts 2024
- ZEEVISHANDEL MERCUUR IJMUIDEN BV 0.09%annual accounts 2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0888839011
Permanent representative: Rose Marry-Anne van Nieuwkerk
Appointment: VERBIEST NV (director) · Board meeting of 22-10-2025 · Gazette deed
2 directors resigning, 1 reappointment, 1 statutory auditor reappointed
Resignations: ROSEMARIE VAN DUIJN BEHEER BV and FOX HOLDINGS NV · Permanent representatives: Thomas van Nieuwkerk and Rosemarie van Duijn · Reappointments: FOX HOLDINGS NV and RSM InterAudit BV (statutory auditor) · General meeting of 02-10-2024 · Gazette deed
1 statutory auditor appointed
RSM InterAudit CV (statutory auditor) · Permanent representatives: Inge Saeys and Thomas Van Nieuwkerk · General meeting of 04-06-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Multi-Fish Blankenberge | €52.6m | 0.6% | 5.1% | 13 |
| VICHIUNAI EUROPE Bruges | €62.4m | 2.5% | 36.2% | 17.1 |
| LOBSTER FISH Deerlijk | €48.2m | 5.6% | 60.1% | 29 |
| PITTMAN SEAFOODS Bruges | €49.9m | 3.5% | 59.5% | 26.7 |
| CASPIAN TRADITION Waterloo | €18.8m | 3.4% | 21.5% | 17.2 |
| SEACORIN Waregem | €23.0m | 1.0% | -6.3% | 4.6 |
| CPF EUROPE Waterloo | €37.2m | -3.0% | 92.0% | 7.9 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Multi-Fish: wholesale trade (NACE 46323). They are comparable in size and age: total assets between €12m and €107m, founded between 1990 and 2014.
Official details
Source: KBO- Status
- Active since 18-04-2007Normal situation
- Activity
- Wholesale tradeNACE 46323and 1 other
- Joint committees
- 200Auxiliary committee for white-collar workers
- 143Sea fishing · annual accounts 2024
- Establishment units
- 2.162.200.4728370 Blankenberge, since 18-04-2007
- 2.288.949.6799820 Merelbeke-Melle, since 01-04-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 14-01-2026
Insights on Multi-Fish
The computed 12-month bankruptcy probability of Multi-Fish is 3.2% (moderate). The 2024 annual accounts show equity of €950,928 and a net result of -€70,272.
Equity has been shrinking by about 17% per year since 2019. Its solvency ranks better than 10% of 6,059 sector peers (NACE 46, financial year 2024).
The company has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Multi-Fish
- What is the company number of Multi-Fish?
- The company number of Multi-Fish is 0888.839.011. The VAT number is the same number with BE in front: BE 0888.839.011.
- Where is Multi-Fish based?
- The registered office is at Schaapstraat 98, 8370 Blankenberge.Company details
- What does Multi-Fish do?
- According to the KBO register, the main activity is wholesale trade (NACE 46323).
- What is the legal form of Multi-Fish?
- Multi-Fish is a public limited company (NV).
- When was Multi-Fish founded?
- Multi-Fish was founded on 18-04-2007.
- Is Multi-Fish still active?
- Yes, Multi-Fish is an active enterprise in the KBO register.
- How many employees does Multi-Fish have?
- Multi-Fish had an average of 13 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- Which joint committee does Multi-Fish fall under?
- In its 2024 annual accounts, Multi-Fish states joint committees 200 (Auxiliary committee for white-collar workers) and 143 (Sea fishing).
- What is the turnover of Multi-Fish?
- The turnover of Multi-Fish was €52.6m in financial year 2024, according to the filed annual accounts.
- Is Multi-Fish profitable?
- In financial year 2024, Multi-Fish made a loss of €70,272.
- Where can I find the annual accounts of Multi-Fish?
- Multi-Fish filed 17 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
Next steps
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