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Partner Spirits

Active
Public limited companyfounded 198342 yrs activeRue du Progrès 34, 5300 Andenne, BelgiumKBO/BCE: BE 0425.006.686
Summary

Partner Spirits has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19.6m and a net result of €2.2m. Equity is growing by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 31% of 6032 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Risk analysisWatch ReportCompare
Partner SpiritsActiveChecked score 83/100
Risk analysis ReportCompare

Overview

Activity
Wholesale of wines and spirits
NACE 46341
#1 company by total assets in Andenne, Wholesale and retail trade sector1 site
Size
€137.9mturnover 2025
Staff
42.4 FTE
Equity
€19.6m
Profit
€2.2m
Financial health
83 Excellent Checked score 2025
Bankruptcy chance 12 m
0.4%
Structure
Board
3 members
Auditor: BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISESAccounts 71 d early3 of 9 deeds read
Why 83- Liquidity: current ratio 1.29, cash €500,450- 1 change of registered office in 24 months+ Founded in 1983+ Figures for FY 2025 (filed 22-05-2026)Show the evidence

Checked score

Score 2025
83 / 100
Excellent
Probability in this band: under 0.55%
Better than 43% of its sector peers (NACE 46, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 53+3
equity 28.4% of total assets
Liquidity 27+1
short-term debt 47.6% · cash 0.7%
Profitability 61+23
return on assets 3.2%
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (4,378 companies)
Last 24 months 11-2024: 0.3% 12-2024: 0.3%● 0.0% vs 11-2024 01-2025: 0.3%● 0.0% vs 12-2024 02-2025: 0.3%▼ -3.5% vs 01-2025lowest value 03-2025: 0.6%▲ +98.7% vs 02-2025 04-2025: 0.6%▲ +3.7% vs 03-2025 05-2025: 0.7%▲ +20.4% vs 04-2025 06-2025: 0.6%▼ -15.5% vs 05-2025 07-2025: 0.6%● 0.0% vs 06-2025 08-2025: 0.6%● 0.0% vs 07-2025 09-2025: 0.6%● 0.0% vs 08-2025 10-2025: 0.6%● 0.0% vs 09-2025 11-2025: 0.6%● 0.0% vs 10-2025 12-2025: 0.6%● 0.0% vs 11-2025 01-2026: 0.6%● 0.0% vs 12-2025 02-2026: 0.6%▼ -3.6% vs 01-2026 03-2026: 0.6%▲ +1.5% vs 02-2026 04-2026: 0.6%▲ +3.7% vs 03-2026 05-2026: 0.8%▲ +20.4% vs 04-2026highest value 06-2026: 0.4%▼ -48.5% vs 05-2026 07-2026: 0.4%● 0.0% vs 06-2026 08-2026: 0.4%● 0.0% vs 07-2026 09-2026: 0.4%● 0.0% vs 08-2026 10-2026: 0.4%● 0.0% vs 09-2026
  • Liquidity: current ratio 1.29, cash €500,450 raises the probability
  • 1 change of registered office in 24 months raises the probability
  • Founded in 1983 lowers the probability for this profile
  • Figures for FY 2025 (filed 22-05-2026) lowers the probability
Credit up to €1,600,000 at 30 days acceptable
Liquidity tight (current ratio 1.29 against 1.22 in 2024; short-term debt: 47.6% and cash: 0.7% of total assets), and 71.6% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 46, small). Better than this share of them on solvency 33%, liquidity 26%, profitability 46%, growth against the median 66%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 1.29, cash €500,450
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
lowers risk · Founded in 1983
In the bankruptcy model this factor lowers the probability for this profile.
KBO
lowers risk · Figures for FY 2025 (filed 22-05-2026)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
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 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
71 d early
2024
87 d early
2023
77 d early
2022
145 d early
2021
152 d early
2020
123 d early
2019
108 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 109 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.

Checked, nothing found (2)
neutral · 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. Usually files around 5 May (4 of the last 5 filed years within 58 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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
  1. Resignation: Karolien De Kegel (day-to-day manager)State Gazette act
  2. Reappointment: BDO Réviseurs d'entreprises (statutory auditor)Permanent representative: Denis ANCION
  3. Annual accounts filedfiscal year 2025 · full…

Key points

  • Positive: Result rose in 2025from €109,987 to €2.2m ▲ 1,915% View
  • Positive: Company by total assets in Andenne, Wholesale and…in the Checked rankings #1 View
  • Board changedlatest change 16-06-2026 · 3 in office 2 joined · 2 left View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Positive: 8 profitable years in a rowprofit 2025: €2.2m 8 years View

By topic

Financials

Fiscal year
2025
Turnover
€137.9m
Profit
€2.2m
Solvency
28.4%
Turnover▲ 5.1%
Net result
20182025
Go to Financials

Board & ownership

Board
3 members
Auditor
BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
Go to Board & ownership

Timeline

Events
16
Since
2017
Next accounts
by 31-07-2027
  1. 17-08-2026Resignation: Karolien De Kegel (day-to-day manager)
  2. 19-06-2026Reappointment: BDO Réviseurs d'entreprises (statutory auditor)
  3. 21-05-2026Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Wholesale of wines and spiritsNACE 46341
Founded
15-11-1983
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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