OLD FLANDERS
ActiveOLD FLANDERS has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €140k and a net result of €28k. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 73% of 1854 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability81▲+79
Solvency75▼-5
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 1.97 against 2.72 in 2023; short-term debt: 47.3% and cash: 21.1% of total assets), but 50.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-09-2025, 35 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
not confirmed
2024
35 d late
2023
327 d late
2022
61 d late
2021
60 d late
2020
58 d late
2019
71 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€140k▲ 24.6%
2023 · €112k
2018: €154k
2019: €174k
2020: €197k
2021: €189k
2022: €139k
2023: €112k
2018 → 2024
Total assets
€282k▲ 38.1%
2023 · €204k
2018: €291k
2019: €323k
2020: €300k
2021: €254k
2022: €203k
2023: €204k
2018 → 2024
Net result
€28k
2023 · €-27k
2018: €5k
2019: €23k
2020: €26k
2021: €-8k
2022: €-49k
2023: €-27k
2018 → 2024
Working capital
€130k▲ 12.9%
2023 · €115k
2018: €200k
2019: €175k
2020: €209k
2021: €130k
2022: €89k
2023: €115k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€197k-€189k▼ 4.2%€139k▼ 26.2%€112k▼ 19.5%€140k▲ 24.6%
Operating result€38k-€-322€-46k▼ 14,328%€-26k▲ 43.8%€33k
Net result€26k-€-8k€-49k▼ 493%€-27k▲ 45.2%€28k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €33k after a loss of €26k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €282k
Fixed assets
€19k▼ 15.9%
Current assets
€263k▲ 44.8%
Equity and liabilities €282k
Equity
€140k▲ 24.6%
Debt
€142k▲ 54.6%
The debt ratio rises from 45.0% to 50.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€40k▲
2023 · €-5k
Cash flow
€35k▲
2023 · €-6k
Solvency
49.6%▼
2023 · 55.0%
Current ratio
1.97▼
2023 · 2.72
Quick ratio
1.97▼
2023 · 2.72
Debt / equity
1.02▲
2023 · 0.82
ROE
19.8%▲
2023 · -24.2%
ROA
9.8%▲
2023 · -13.3%
Interest coverage
8.39▲
2023 · -5.81
Debt
€142k▲
2023 · €92k
Debt ≤ 1 year
€133k▲
2023 · €67k
Debt > 1 year
€9k▼
2023 · €25k
Income taxes
€194▼
2023 · €210
Staff costs
€132k▲
2023 · €112k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€204k€282k▲
Fixed assets21/28€22k€19k▼
Tangible fixed assets22/27€22k€19k▼
Land and buildings22€0-
Plant, machinery and equipment23€640€0▼
Furniture and vehicles24€18k€16k▼
Other tangible fixed assets26€4k€3k▼
Financial fixed assets28€452€0▼
Current assets29/58€181k€263k▲
Amounts receivable after more than one year29€7k€7k=
Other amounts receivable291€7k€7k=
Stocks and contracts in progress3€0-
Stocks30/36€0-
Amounts receivable within one year40/41€149k€196k▲
Trade receivables40€138k€192k▲
Other amounts receivable41€11k€4k▼
Cash at bank and in hand54/58€23k€59k▲
Deferred charges and accrued income490/1€3k€1k▼
Equity and liabilities
Total equity and liabilities10/49€204k€282k▲
Equity10/15€112k€140k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€129k€129k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€122k€122k=
Profit (loss) carried forward14€-79k€-51k▲
Amounts payable17/49€92k€142k▲
Amounts payable after more than one year17€25k€9k▼
Financial debts170/4€10k€3k▼
Other amounts payable178/9€15k€6k▼
Amounts payable within one year42/48€67k€133k▲
Current portion of amounts payable after more than one year42€6k€7k▲
Financial debts43€25k€23k▼
Credit institutions430/8€25k€23k▼
Trade debts44€6k€8k▲
Suppliers440/4€6k€8k▲
Advances received on contracts in progress46-€51k
Taxes, remuneration and social security45€25k€35k▲
Taxes450/3€19k€22k▲
Remuneration and social security454/9€6k€13k▲
Other amounts payable47/48€4k€10k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20232024
Remuneration, social security and pensions62€112k€132k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€7k▼
Other operating charges640/8€4k€4k▲
Gross operating margin9900€111k€176k▲
Operating profit (loss)9901€-26k€33k▲
Financial income75/76B€0€2▲
Recurring financial income75€0€2▲
Financial charges65/66B€789€5k▲
Recurring financial charges65€789€5k▲
Profit (loss) for the period before taxes9903€-27k€28k▲
Income taxes67/77€210€194▼
Profit (loss) for the period9904€-27k€28k▲
Profit (loss) for the period to be appropriated9905€-27k€28k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-79k€-51k▲
Profit (loss) brought forward from the previous period14P€-51k€-79k▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
04-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 35 days late
23-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 327 days late
2024
31-12
Financial
Back to profitnet €28k
Net result €28k after 3 loss-making years.
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Weakest financial yearnet €-49k
Net result drops to €-49k, the lowest in the series; recovery starts the following year.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 8.40
Current ratio from 3.80 to 8.40; short-term debt falls from €63k to €28k.
10-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 71 days late
2019
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
2018
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 51 days late
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 9 days late
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Middelkerke · 2 establishment units since 1986
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.
Lombardsijdelaan 1638434 MiddelkerkeGround area
6.1 ha
Building footprint
819 m²
Volume, LiDAR
3,600 m³
2 parcels, Flanders · tallest building 9.0 m, ±1 floor. Linked by address, not a title deed.
2 establishment units
Le Paradou
since 19862.026.098.287
Westgolf
since 20172.262.003.376
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35009B0090/00C000 | Flanders | 6.0 ha | 1 · 533 m² | 8.2 m · 1 fl. |
| 35022B0327/00L054 | Flanders | 931 m² | 1 · 286 m² | 9.0 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesMiddelkerke2.026.098.287
Middelkerke2.262.003.376
Similar companies · same sector, comparable size
HOTEL BONCELLES
BE 0472.095.634
Charleroi · Eq €140k
ICV
BE 0666.795.519
Schaarbeek · Eq €140k
A-Stay Pelikaanstraat
BE 0727.908.190
Gent · Eq €139k
LES RAMIERS
BE 0422.537.938
Gerpinnes · Eq €140k
ORESTO
BE 0554.931.357
Temse · Eq €139k
Of 2,395 companies in sector 55100 we hold annual accounts for 1,517. 1,085 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-11-1986
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.