OPERATOR
ActiveSummary
OPERATOR has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10,964 and a net result of -€3,407. Equity has been stable since 2018 (±2.4% per year). Its solvency ranks better than 25% of 13,741 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-01-1994 Normal situation
- Registered office
- 26 active companies are registered at this address 2 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Wholesale of agricultural produce and animal feed, general range NACE 46216
- Establishment unit
- 2.067.063.664 1090 Jette, since 06-06-1994
- Financial year end
- 31 December
- Peppol
- Reachable since 05-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts 2025
- Gross margin
- -€3,261
- ▼ 27.9%
- Loss
- €3,407
- ▼ 3.5%
- Equity
- €10,964
- ▼ 23.7%
- Total assets
- €137,197
- =
Turnover not published (micro format)
Score breakdownraises riskLiquidity: current ratio 2.79Sector: Wholesale trade (NACE 46)lowers riskFounded in 1994Size: total assets €137,197Show the evidence
Checked score
Score 2025
81
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 35% of micro companies in wholesale trade (NACE 46)
Financial strength · tick: 2024
Weak
Solvency
33-2
equity 8.0% of total assets
Liquidity
68+32
short-term debt 35.8%
Profitability
31=
return on assets -2.5%
Bankruptcy probability within 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.4%▲ +0.1 percentage points vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.3%▼ -0.1 percentage points vs 05-2025
07-2025: 0.6%▲ +0.3 percentage points vs 06-2025highest value
08-2025: 0.4%▼ -0.2 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.3%▼ -0.1 percentage points vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026lowest value
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.5%▲ +0.2 percentage points vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Credit of up to €500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.79 (3.0 in 2024), above the usual 1.5. Short-term debt is 35.8% of total assets. However, 92% of the assets are financed with debt and provisions.
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, micro). It does better than 22% of them on solvency, 73% on liquidity, 26% on profitability and 17% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€3,407
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 13741 sector peers (2025).
NBB · sector comparisonPosition among 13741 sector peers
Solvency
better than 25%
← weakest
strongest →
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 days early
2024
9 days early
2023
1 day early
2022
2 days early
2021
7 days early
2020
2 days early
2019
75 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 7 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 (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 28 filings
Turnover
€4,025▼ 86.2%
2022 · €29,207
EBIT margin
40.6%▲ 21.3pp
2022 · 19.4%
Net result
-€3,407▲ 3.5%
2024 · -€3,532
Working capital
€88,021▼ 3.7%
2024 · €91,428
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€3,261
▲ 2.0%
2025
20182025
Net result
-€3,407
▲ 3.5%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€10,964
▼ 23.7%
2025
middle half of the sector
20182025
Total assets
€137,197
=
2025
middle half of the sector
20182025
Debt
€126,233
▲ 2.8%
2025
20182025
Working capital
€88,021
▼ 3.7%
2025
middle half of the sector
20182025
Solvency
8.0%
▼ 2.5pp
2025
lowest quarter of the sector
20182025
Current ratio
2.79
▼ 0.21
2025
middle half of the sector
20182025
Return on assets (ROA)
-2.5%
▲ 0.1pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€3,748-€4,766▲ 27.2%€3,961▼ 16.9%€18,905▲ 377%€29,207▲ 54.5%€4,025▼ 86.2%
Operating result€3,132--€1,746-€165▲ 90.5%€2,957€5,654▲ 91.2%€1,635▼ 71.1%-€3,329-€3,261▲ 2.0%
Net result€3,082--€2,961€130within the sector's middle half€2,327within the sector's middle half▲ 18×€3,634within the sector's middle half▲ 56.2%€1,317within the sector's middle half▼ 63.8%-€3,532within the sector's middle half-€3,407within the sector's middle half▲ 3.5%
EBIT margin83.6%--36.6%▼ 120.2pp-4.2%▲ 32.5pp15.6%▲ 19.8pp19.4%▲ 3.7pp40.6%▲ 21.3pp
Equity€13,456-€10,495▼ 22.0%€10,625within the sector's middle half▲ 1.2%€12,952within the sector's middle half▲ 21.9%€16,586within the sector's middle half▲ 28.1%€17,903within the sector's middle half▲ 7.9%€14,371within the sector's middle half▼ 19.7%€10,964within the sector's middle half▼ 23.7%
Total assets€187,546-€187,945▲ 0.2%€187,724within the sector's middle half▼ 0.1%€161,663within the sector's middle half▼ 13.9%€142,035within the sector's middle half▼ 12.1%€142,883within the sector's middle half▲ 0.6%€137,140within the sector's middle half▼ 4.0%€137,197within the sector's middle half=
Debt€174,090-€177,450▲ 1.9%€177,099▼ 0.2%€148,711▼ 16.0%€125,449▼ 15.6%€124,980▼ 0.4%€122,769▼ 1.8%€126,233▲ 2.8%
Working capital€90,512-€87,552▼ 3.3%€87,682within the sector's middle half▲ 0.1%€90,009within the sector's middle half▲ 2.7%€93,643within the sector's middle half▲ 4.0%€94,960within the sector's middle half▲ 1.4%€91,428within the sector's middle half▼ 3.7%€88,021within the sector's middle half▼ 3.7%
Solvency7.2%-5.6%▼ 1.6pp5.7%below the sector's middle half▲ 0.1pp8.0%within the sector's middle half▲ 2.4pp11.7%within the sector's middle half▲ 3.7pp12.5%within the sector's middle half▲ 0.9pp10.5%within the sector's middle half▼ 2.1pp8.0%below the sector's middle half▼ 2.5pp
Current ratio1.93-1.87▼ 0.061.88within the sector's middle half=2.26within the sector's middle half▲ 0.382.94within the sector's middle half▲ 0.682.98within the sector's middle half▲ 0.053.00within the sector's middle half▲ 0.022.79within the sector's middle half▼ 0.21
Return on assets (ROA)1.6%--1.6%▼ 3.2pp0.1%within the sector's middle half▲ 1.6pp1.4%within the sector's middle half▲ 1.4pp2.6%within the sector's middle half▲ 1.1pp0.9%within the sector's middle half▼ 1.6pp-2.6%within the sector's middle half▼ 3.5pp-2.5%within the sector's middle half▲ 0.1pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €3,261, smaller than the loss of €3,329 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €137,197
Equity
€10,964 ▼ 23.7%
Debt
€126,233 ▲ 2.8%
Debt's share of the balance-sheet total rises from 89.5% to 92.0%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
11.51▲
2024 · 8.54
ROE
-31.1%▼
2024 · -24.6%
Debt ≤ 1 year
€49,176▲
2024 · €45,712
Debt > 1 year
€77,057=
2024 · €77,057
Income taxes
€148▲
2024 · €66
Supplier credit
4935 days▼
2024 · 6222 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €771 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €3,748 | €4,766 | €3,961 | €18,905 | €29,207 | €4,025 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €15,945 | €23,111 | €2,390 | €2,550 | €3,261 | ▲ 27.9% |
| Other operating charges640/8 | - | - | - | €3 | €442 | - | €779 | - | - |
| Gross operating margin9900 | €3,480 | -€1,398 | €515 | €2,960 | €6,096 | €1,635 | -€2,550 | -€3,261 | ▼ 27.9% |
| Operating profit (loss)9901 | €3,132 | -€1,746 | -€165 | €2,957 | €5,654 | €1,635 | -€3,329 | -€3,261 | ▲ 2.0% |
| Financial income75/76B | - | - | - | - | - | - | - | €24 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €24 | - |
| Financial charges65/66B | - | - | - | €59 | €117 | €126 | €137 | €22 | ▼ 83.9% |
| Recurring financial charges65 | €50 | €90 | €101 | €59 | €117 | €126 | €137 | €22 | ▼ 83.9% |
| Profit (loss) for the period before taxes9903 | €3,082 | -€1,836 | -€266 | €2,898 | €5,537 | €1,509 | -€3,466 | -€3,259 | ▲ 6.0% |
| Income taxes67/77 | - | €1,125 | -€396 | €571 | €1,903 | €192 | €66 | €148 | ▲ 124% |
| Profit (loss) for the period9904 | €3,082 | -€2,961 | €130 | €2,327 | €3,634 | €1,317 | -€3,532 | -€3,407 | ▲ 3.5% |
| Profit (loss) for the period to be appropriated9905 | €3,082 | -€2,961 | €130 | €2,327 | €3,634 | €1,317 | -€3,532 | -€3,407 | ▲ 3.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €187,546 | €187,945 | €187,724 | €161,663 | €142,035 | €142,883 | €137,140 | €137,197 | = |
| Fixed assets21/28 | - | - | - | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | - | - | - | €0 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0 | - | - | - | - | - |
| Current assets29/58 | €187,546 | €187,945 | €187,724 | €161,663 | €142,035 | €142,883 | €137,140 | €137,197 | = |
| Stocks and contracts in progress3 | €28,139 | €27,703 | €27,463 | €15,230 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €15,230 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €158,984 | €159,633 | €160,091 | €144,992 | €139,022 | €139,057 | €136,526 | €137,197 | ▲ 0.5% |
| Trade receivables40 | - | - | - | €141,994 | €137,969 | €136,664 | €133,646 | €133,646 | = |
| Other amounts receivable41 | - | - | - | €2,998 | €1,053 | €2,393 | €2,880 | €3,551 | ▲ 23.3% |
| Cash at bank and in hand54/58 | €423 | €609 | €170 | €1,441 | €3,013 | €3,826 | €614 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €187,546 | €187,945 | €187,724 | €161,663 | €142,035 | €142,883 | €137,140 | €137,197 | = |
| Equity10/15 | €13,456 | €10,495 | €10,625 | €12,952 | €16,586 | €17,903 | €14,371 | €10,964 | ▼ 23.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€7,004 | -€9,965 | -€9,835 | -€7,508 | -€3,874 | -€2,557 | -€6,089 | -€9,496 | ▼ 56.0% |
| Amounts payable17/49 | €174,090 | €177,450 | €177,099 | €148,711 | €125,449 | €124,980 | €122,769 | €126,233 | ▲ 2.8% |
| Amounts payable after more than one year17 | €77,056 | €77,057 | €77,057 | €77,057 | €77,057 | €77,057 | €77,057 | €77,057 | = |
| Financial debts170/4 | - | - | - | €77,057 | €77,057 | €77,057 | €77,057 | €77,057 | = |
| Amounts payable within one year42/48 | €97,034 | €100,393 | €100,042 | €71,654 | €48,392 | €47,923 | €45,712 | €49,176 | ▲ 7.6% |
| Trade debts44 | €83,315 | €83,886 | €83,377 | €68,603 | €45,271 | €46,552 | €43,470 | €44,093 | ▲ 1.4% |
| Suppliers440/4 | - | - | - | €68,603 | €45,271 | €46,552 | €43,470 | €44,093 | ▲ 1.4% |
| Taxes, remuneration and social security45 | - | - | - | €725 | €771 | €400 | €466 | - | - |
| Taxes450/3 | - | - | - | €725 | €771 | €400 | €466 | - | - |
| Other amounts payable47/48 | - | - | - | €2,326 | €2,350 | €971 | €1,776 | €5,083 | ▲ 186% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,082 | -€2,961 | €130 | €2,327 | €3,634 | €1,317 | -€3,532 | -€3,407 | ▲ 3.5% |
| Operating cash flow (approximation) | €3,082 | -€2,961 | €130 | €2,327 | €3,634 | €1,317 | -€3,532 | -€3,407 | ▲ 3.5% |
| Change in cash | - | €186 | -€439 | €1,271 | €1,572 | €813 | -€3,212 | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 974 companies had the same profile as OPERATOR has now. Two years later, 92.8% were still going and 2.3% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a small loss
92.8%
was still going
4.5%
stopped otherwise
2.3%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of OPERATOR itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 974 companies, not a prediction for OPERATOR. 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.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-07-2026 | 2026-00333205 | |
| 31-12-2024 | micro format | 22-07-2025 | 2025-00291933 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00318031 | |
| 31-12-2022 | micro format | 29-07-2023 | 2023-00303777 | |
| 31-12-2021 | micro format | 24-07-2022 | 2022-20224941 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-42200396 | |
| 31-12-2019 | micro format | 14-10-2020 | 2020-61500225 | |
| 31-12-2018 | micro format | 08-01-2020 | 2020-00700465 | |
| 31-12-2017 | micro format | 23-07-2018 | 2018-37100212 | |
| 31-12-2016 | micro format | 24-07-2017 | 2017-34500496 |
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
27-07
micro format · 4 days before the deadline
2025
22-07
micro format · 9 days before the deadline
2024
31-12
Financial
Weakest financial yearnet -€3,532
The net result drops to -€3,532, the lowest from 2018 to 2025. It recovers the following year.
30-07
micro format · 1 day before the deadline
2023
29-07
micro format · 2 days before the deadline
2022
31-12
Financial
Highest result from 2018 to 2025net €3,634 ▲56.2%
The operating result of €5,654 and the net result of €3,634 are both a record.
24-07
micro format · 7 days before the deadline
2021
29-07
micro format · 2 days before the deadline
2020
2018
23-07
micro format · 8 days before the deadline
2017
24-07
micro format · 7 days before the deadline
1994
08-03
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
OPERATOR in French
Enterprise number
0452.183.811
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
22-01-1994
Entity type
Legal entity
Registered office and establishments
Registered office
Edmond Machtenslaan 172, 1080 Sint-Jans-Molenbeek, Belgium
Establishment unit
OPERATOR, Paul Michielsstraat 52, 1090 Jette since 06-06-1994 · unit number 2.067.063.664
Activities
NACEBEL 202546216
Wholesale of agricultural produce and animal feed, general range main activity
Codes under NACEBEL 2008
46216
Wholesale of agricultural produce and animal feed, general range main activity
Codes under NACEBEL 2003
51210
main activity
Invoicing and payment
VAT number
BE 0452.183.811
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
2,238 m²
Building footprint
665 m²
Building volume
14,915 m³
Tallest building: 32.1 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21524C0067/00S000 | Brussels | 2,144 m² | 1 · 502 m² | 32.1 m · 9 |
| 21463D0283/00K041 | Brussels | 94 m² | 1 · 163 m² | 17.2 m · 3 |