Losses
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The last five annual accounts were filed 37 to 51 days before the end of the period.
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, micro). It does better than 76% of them on solvency, 33% on liquidity, 26% on profitability and 36% on growth.
The bankruptcy probability was computed on 08-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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).
In July 2024, 6,908 companies had the same profile as PRACTO has now. Each dot stands for 18 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PRACTO itself: 0.2% within 12 months.
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 6,908 companies, not a prediction for PRACTO. 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.
Liquidity is insufficient, with a current ratio of 0.15 (0.19 in 2024), below 1. Short-term debt is 32.2% and cash 3.2% of total assets. 32.2% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 40 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PRACTO Waregem | €98,835 | -€440 | 67.8% | - |
| 't PAKHUIS Bruges | €86,866 | -€9,854 | 39.9% | - |
| J.P.B.C Courcelles | €117,185 | -€1,653 | 68.7% | - |
| C.B.M.C. Seraing | €115,952 | -€9,107 | 98.6% | - |
| FRUN PARK ANS Bruges | €67,181 | -€65,579 | -1060.1% | - |
| ASTRID JEWELRY Antwerp | €91,758 | -€973 | -88.9% | - |
| Stones & Design Pajottegem | €129,739 | -€2,097 | -1.9% | 0 |
These companies have the same main activity as PRACTO: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €67,200 and €130,000, founded between 2006 and 2012.
PRACTO files the micro format. That format states no turnover. The gross margin rose from -€4,210 in 2010 to -€440 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 78% of 17,185 companies in 2025.
Higher than 15% of 16,482 companies in 2025.
Higher than 22% of 16,861 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
98,835 | 99,673 | 110,448 | 108,225 | 109,613 | 105,199 | 107,626 | 119,220 | 98,207 | 138,338 | 100,508 | 101,125 | 101,730 | 102,319 | 103,044 | 103,619 | |
21/28 |
94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | |
22/27 |
94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 94,053 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | |
22 |
1,053 | 1,053 | 1,053 | 1,053 | 1,053 | 1,053 | 1,053 | 1,053 | - | - | - | - | - | - | - | - | |
26 |
93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | 93,000 | |
29/58 |
4,783 | 5,620 | 16,395 | 14,173 | 15,560 | 11,146 | 13,573 | 25,167 | 5,207 | 45,338 | 7,508 | 8,125 | 8,730 | 9,319 | 10,044 | 10,619 | |
40/41 |
1,590 | 1,590 | 2,580 | 1,951 | 13,776 | 2,835 | 5,301 | 14,770 | 3,953 | 32,815 | - | 3 | 6 | 3 | - | - | |
40 |
- | - | 1,000 | - | 12,006 | 2,832 | 343 | 11,809 | - | 32,575 | - | - | - | - | - | - | |
41 |
1,590 | 1,590 | 1,580 | 1,951 | 1,771 | 3 | 4,958 | 2,962 | 3,953 | 240 | - | 3 | 6 | 3 | - | - | |
54/58 |
3,192 | 4,030 | 13,816 | 12,222 | 1,784 | 8,311 | 8,272 | 10,397 | 1,254 | 12,523 | 7,483 | 8,122 | 8,724 | 9,316 | 10,044 | 10,619 | |
490/1 |
- | - | - | - | - | - | - | - | - | - | 25 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
98,835 | 99,673 | 110,448 | 108,225 | 109,613 | 105,199 | 107,626 | 119,220 | 98,207 | 138,338 | 100,508 | 101,125 | 101,730 | 102,319 | 103,044 | 103,619 | |
10/15 |
66,964 | 69,781 | 72,480 | 71,504 | 62,262 | 52,533 | 38,331 | 23,644 | 9,846 | -6,905 | -33,976 | -16,480 | -13,568 | -10,719 | -7,777 | -5,030 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
54,564 | 57,381 | 60,080 | 59,104 | 49,862 | 40,133 | 25,931 | 11,244 | - | - | - | - | - | - | - | - | |
130/1 |
- | - | - | - | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
1311 |
- | - | - | - | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | 1,860 | - | - | - | - | - | - | - | - | - | - | |
133 |
54,564 | 57,381 | 60,080 | 59,104 | 48,002 | 38,273 | 24,071 | 9,384 | - | - | - | - | - | - | - | - | |
14 |
- | - | - | - | - | - | - | - | -2,554 | -19,305 | -46,376 | -28,880 | -25,968 | -23,119 | -20,177 | -17,430 | |
17/49 |
31,871 | 29,892 | 37,967 | 36,721 | 47,351 | 52,666 | 69,294 | 95,575 | 88,361 | 145,243 | 134,484 | 117,604 | 115,298 | 113,038 | 110,821 | 108,648 | |
42/48 |
31,871 | 29,892 | 37,967 | 36,721 | 47,351 | 52,666 | 69,294 | 95,575 | 88,361 | 145,243 | 134,484 | 117,604 | 115,298 | 113,038 | 110,821 | 108,648 | |
44 |
0 | 128 | 115 | 502 | 111 | - | - | - | - | - | - | - | - | - | - | - | |
440/4 |
0 | 128 | 115 | 502 | 111 | - | - | - | - | - | - | - | - | - | - | - | |
45 |
- | - | 173 | - | 2,528 | 965 | - | - | - | - | - | - | - | - | - | - | |
450/3 |
- | - | 173 | - | 2,528 | 965 | - | - | - | - | - | - | - | - | - | - | |
47/48 |
31,871 | 29,764 | 37,679 | 36,219 | 44,712 | 51,701 | 69,294 | 95,575 | 88,361 | 145,243 | 134,484 | 117,604 | 115,298 | 113,038 | 110,821 | 108,648 | |
| Income statement | |||||||||||||||||
9900 |
-440 | -449 | 2,916 | 13,963 | 15,125 | 21,485 | 26,698 | 25,838 | 25,015 | 37,957 | -476 | -476 | -475 | -619 | -466 | -4,210 | |
630 |
- | - | - | - | - | - | - | 105 | - | - | - | - | - | - | - | 9,325 | |
640/8 |
128 | 126 | 115 | 112 | 111 | 109 | 107 | 105 | 103 | 103 | 102 | 101 | 98 | 95 | 93 | 93 | |
9901 |
-568 | -575 | 2,801 | 13,851 | 15,014 | 21,376 | 26,591 | 25,627 | 24,912 | 37,854 | -578 | -577 | -573 | -714 | -559 | -13,628 | |
75/76B |
- | - | - | - | - | - | - | - | - | - | 6 | 7 | 15 | 20 | 21 | 20 | |
75 |
- | - | - | - | - | - | - | - | - | - | 6 | 7 | 15 | 20 | 21 | 20 | |
65/66B |
2,248 | 2,125 | 1,499 | 1,547 | 2,054 | 2,451 | 5,759 | 7,115 | 8,161 | 10,783 | 16,922 | 2,339 | 2,294 | 2,250 | 2,206 | 3,819 | |
65 |
2,248 | 2,125 | 1,499 | 1,547 | 2,054 | 2,451 | 5,759 | 7,115 | 8,161 | 10,783 | 16,922 | 2,339 | 2,294 | 2,250 | 2,206 | 3,819 | |
9903 |
-2,817 | -2,700 | 1,302 | 12,305 | 12,960 | 18,925 | 20,832 | 18,513 | 16,750 | 27,071 | -17,495 | -2,910 | -2,853 | -2,944 | -2,744 | -17,427 | |
67/77 |
- | - | 325 | 3,062 | 3,231 | 4,723 | 6,145 | 4,714 | - | - | 1 | 2 | -3 | -3 | 3 | 3 | |
9904 |
-2,817 | -2,700 | 976 | 9,242 | 9,729 | 14,201 | 14,687 | 13,799 | 16,750 | 27,071 | -17,496 | -2,912 | -2,849 | -2,941 | -2,747 | -17,430 | |
9905 |
-2,817 | -2,700 | 976 | 9,242 | 9,729 | 14,201 | 14,687 | 13,799 | 16,750 | 27,071 | -17,496 | -2,912 | -2,849 | -2,941 | -2,747 | -17,430 | |
| Appropriation of the result | |||||||||||||||||
9906 |
-2,817 | -2,700 | 976 | 9,242 | 9,729 | 14,201 | 14,687 | 11,244 | -2,554 | -19,305 | -46,376 | -28,880 | -25,968 | -23,119 | -20,177 | -17,430 | |
791/2 |
2,817 | 2,700 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 976 | 9,242 | 9,729 | 14,201 | 14,687 | 11,244 | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | 1,860 | - | - | - | - | - | - | - | - | |
6921 |
- | - | 976 | 9,242 | 9,729 | 14,201 | 14,687 | 9,384 | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||
The notes to these accounts have 2 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 10-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-06-2026 | 2026-00150476 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00147724 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00156863 | |
| 31-12-2022 | micro format | 22-06-2023 | 2023-00148566 | |
| 31-12-2021 | micro format | 20-06-2022 | 2022-20074545 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-25400334 | |
| 31-12-2019 | micro format | 24-06-2020 | 2020-20000013 | |
| 31-12-2018 | micro format | 17-06-2019 | 2019-18900270 | |
| 31-12-2017 | micro format | 11-06-2018 | 2018-17600072 | |
| 31-12-2016 | micro format | 23-06-2017 | 2017-21400457 | |
| 31-12-2015 | abbreviated format | 22-06-2016 | 2016-20700359 | |
| 31-12-2014 | abbreviated format | 27-06-2015 | 2015-23300072 | |
| 31-12-2013 | abbreviated format | 26-06-2014 | 2014-22300344 | |
| 31-12-2012 | abbreviated format | 25-06-2013 | 2013-21400486 | |
| 31-12-2011 | abbreviated format | 22-06-2012 | 2012-20700586 | |
| 31-12-2010 | abbreviated format | 19-06-2011 | 2011-18100373 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | - | - | 25,733 | - | - | - | - | - | - | - | -4,303 | ||
| - | - | - | - | - | - | - | 13,904 | - | - | - | - | - | - | - | -8,105 | ||
| - | - | - | - | - | - | - | 1,053 | - | - | - | - | - | - | - | 93,000 | ||
| -838 | -9,785 | 1,593 | 10,439 | -6,527 | 39 | -2,125 | 9,143 | -11,270 | 5,040 | -638 | -603 | -592 | -728 | -574 | - | ||
| -27,089 | -24,272 | -21,572 | -22,549 | -31,791 | -41,520 | -55,721 | -70,408 | -83,154 | -99,905 | -126,976 | -109,480 | -106,568 | -103,719 | -100,777 | -98,030 | ||
| 67.8% | 70.0% | 65.6% | 66.1% | 56.8% | 49.9% | 35.6% | 19.8% | 10.0% | -5.0% | -33.8% | -16.3% | -13.3% | -10.5% | -7.5% | -4.9% | ||
| 0.15 | 0.19 | 0.43 | 0.39 | 0.33 | 0.21 | 0.20 | 0.26 | 0.06 | 0.31 | 0.06 | 0.07 | 0.08 | 0.08 | 0.09 | 0.10 | ||
| 0.48 | 0.43 | 0.52 | 0.51 | 0.76 | 1.00 | 1.81 | 4.04 | 8.97 | - | - | - | - | - | - | - | ||
| -4.2% | -3.9% | 1.3% | 12.9% | 15.6% | 27.0% | 38.3% | 58.4% | 170.1% | - | - | - | - | - | - | - | ||
| -2.8% | -2.7% | 0.9% | 8.5% | 8.9% | 13.5% | 13.6% | 11.6% | 17.1% | 19.6% | -17.4% | -2.9% | -2.8% | -2.9% | -2.7% | -16.8% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €568, smaller than the loss of €575 in 2024.
Debt's share of the balance-sheet total rises from 30.0% to 32.2%. Equity is lower and debt is higher.
PRACTO has no parent and no holdings in its annual accounts. Alexander De Brabandere is the only director. PRACTO shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Casibel registered office Nokerseweg 168, 8790 Waregem 46150 Agents in the wholesale of furniture, household goods and hardware | 12-02-2009 | 2.177.717.504 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34452B0224/00D002 | 2,679 m² | 1 · 262 m² | 8.1 m · 2 |
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