QUALITY SET
ActiveSummary
QUALITY SET has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €514,470 and a net result of €273,495. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▲+65
Solvency28▲+3
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.3 against 0.44 in 2024; short-term debt: 96.3% and cash: 0% of total assets), and 96.7% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
3.3%
Return on assets
1.8%
Age of the figures
18 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 18606 sector peers (2025).
NBB · sector comparisonPosition among 18606 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
on the day
2024
3 d early
2023
on the day
2022
on the day
2021
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 1 day before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 31 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€514,470▲ 1,169%
2024 · €40,536
Total assets
€15.6m▼ 14.2%
2024 · €18.2m
Net result
€273,495
2024 · -€3.3m
Working capital
-€10.5m▼ 2.5%
2024 · -€10.3m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€696,212--€764,897▼ 9.9%-€3.2m▼ 317%-€3.5m▼ 10.8%€1.0m
Net result-€751,941below the sector's middle half--€713,461below the sector's middle half▲ 5.1%-€3.0mbelow the sector's middle half▼ 316%-€3.3mbelow the sector's middle half▼ 10.6%€273,495above the sector's middle half
Equity€5.5mabove the sector's middle half-€7.3mabove the sector's middle half▲ 31.2%€3.8mabove the sector's middle half▼ 47.1%€40,536within the sector's middle half▼ 98.9%€514,470above the sector's middle half▲ 1,169%
Total assets€11.5mabove the sector's middle half-€15.7mabove the sector's middle half▲ 36.5%€19.5mabove the sector's middle half▲ 23.9%€18.2mabove the sector's middle half▼ 6.5%€15.6mabove the sector's middle half▼ 14.2%
Debt€6.0m-€8.5m▲ 41.4%€15.7m▲ 84.6%€18.2m▲ 16.1%€15.1m▼ 16.9%
Working capital-€2.1mbelow the sector's middle half--€2.9mbelow the sector's middle half▼ 35.5%-€8.2mbelow the sector's middle half▼ 186%-€10.3mbelow the sector's middle half▼ 24.9%-€10.5mbelow the sector's middle half▼ 2.5%
Solvency48.0%within the sector's middle half-46.1%within the sector's middle half▼ 1.9pp19.7%within the sector's middle half▼ 26.4pp0.2%below the sector's middle half▼ 19.5pp3.3%below the sector's middle half▲ 3.1pp
Current ratio0.65below the sector's middle half-0.66below the sector's middle half▲ 0.010.48below the sector's middle half▼ 0.190.44below the sector's middle half▼ 0.040.30below the sector's middle half▼ 0.13
Return on assets (ROA)-6.5%below the sector's middle half--4.5%below the sector's middle half▲ 2.0pp-15.2%below the sector's middle half▼ 10.7pp-18.0%below the sector's middle half▼ 2.8pp1.8%within the sector's middle half▲ 19.8pp
Staff (FTE)2-
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
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 2025: €1.0m after a loss of €3.5m in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.6m
Fixed assets
€11.1m ▲ 7.7%
Current assets
€4.5m ▼ 42.8%
Equity and liabilities €15.6m
Equity
€514,470 ▲ 1,169%
Debt
€15.1m ▼ 16.9%
Debt's share of the balance-sheet total falls from 99.8% to 96.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.8m▲
2024 · -€408,123
Cash flow
€2.1m▲
2024 · -€150,725
Quick ratio
0.02▼
2024 · 0.16
Debt to equity
29.37
ROE
53.2%
Interest coverage
5.34▲
2024 · -0.77
Debt ≤ 1 year
€15.0m▼
2024 · €18.2m
Staff costs
€396,391▲
2024 · €296,213
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 143 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
2.1%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 143 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2.4m | - |
| Remuneration, social security and pensions62 | - | €69,267 | €152,887 | €296,213 | €396,391 | ▲ 33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €131,378 | €538,393 | €2.5m | €3.1m | €1.8m | ▼ 41.3% |
| Other operating charges640/8 | - | €501 | €2,199 | €39,250 | €2,469 | ▼ 93.7% |
| Gross operating margin9900 | -€523,366 | -€156,736 | -€532,314 | -€72,660 | €3.2m | ▲ 4,560% |
| Operating profit (loss)9901 | -€696,212 | -€764,897 | -€3.2m | -€3.5m | €1.0m | ▲ 128% |
| Financial income75/76B | - | €163,045 | €449,390 | €786,786 | €49 | ▼ 100.0% |
| Recurring financial income75 | €40,074 | €163,045 | €449,390 | €786,786 | €49 | ▼ 100.0% |
| Financial charges65/66B | - | €111,608 | €221,882 | €529,388 | €732,924 | ▲ 38.4% |
| Recurring financial charges65 | €95,803 | €111,608 | €221,882 | €529,388 | €532,485 | ▲ 0.6% |
| Non-recurring financial charges66B | - | - | - | - | €200,439 | - |
| Profit (loss) for the period before taxes9903 | -€751,941 | -€713,461 | -€3.0m | -€3.3m | €273,495 | ▲ 108% |
| Profit (loss) for the period9904 | -€751,941 | -€713,461 | -€3.0m | -€3.3m | €273,495 | ▲ 108% |
| Profit (loss) for the period to be appropriated9905 | -€751,941 | -€713,461 | -€3.0m | -€3.3m | €273,495 | ▲ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.5m | €15.7m | €19.5m | €18.2m | €15.6m | ▼ 14.2% |
| Fixed assets21/28 | €7.7m | €10.1m | €12.0m | €10.3m | €11.1m | ▲ 7.7% |
| Intangible fixed assets21 | - | €2,014 | €1,566 | €1,119 | €671 | ▼ 40.0% |
| Tangible fixed assets22/27 | €7.7m | €10.1m | €12.0m | €10.3m | €11.1m | ▲ 7.7% |
| Land and buildings22 | - | €35,643 | €56,134 | €46,841 | €31,935 | ▼ 31.8% |
| Plant, machinery and equipment23 | - | €9.8m | €11.8m | €10.1m | €10.9m | ▲ 8.2% |
| Furniture and vehicles24 | - | €244,544 | €212,060 | €144,574 | €125,776 | ▼ 13.0% |
| Other tangible fixed assets26 | - | €6,308 | €10,606 | €11,770 | €10,142 | ▼ 13.8% |
| Financial fixed assets28 | €363 | €363 | €363 | €363 | €363 | = |
| Current assets29/58 | €3.9m | €5.6m | €7.4m | €7.9m | €4.5m | ▼ 42.8% |
| Stocks and contracts in progress3 | €113,762 | €2.8m | €4.9m | €5.1m | €4.3m | ▼ 15.4% |
| Stocks30/36 | - | €2.8m | €4.9m | €5.1m | €4.3m | ▼ 15.4% |
| Amounts receivable within one year40/41 | €3.7m | €2.5m | €2.6m | €2.8m | €224,915 | ▼ 92.0% |
| Trade receivables40 | - | - | €139,365 | €160,396 | €170,084 | ▲ 6.0% |
| Other amounts receivable41 | - | €2.5m | €2.4m | €2.7m | €54,831 | ▼ 97.9% |
| Cash at bank and in hand54/58 | €55,905 | €339,061 | €33 | €41,383 | €33 | ▼ 99.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | €25,062 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.5m | €15.7m | €19.5m | €18.2m | €15.6m | ▼ 14.2% |
| Equity10/15 | €5.5m | €7.3m | €3.8m | €40,536 | €514,470 | ▲ 1,169% |
| Contributions10/11 | €2.4m | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Capital10 | - | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Issued capital100 | - | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Profit (loss) carried forward14 | -€751,941 | -€1.5m | -€4.4m | -€7.7m | -€7.4m | ▲ 3.5% |
| Investment grants15 | - | €3.7m | €3.3m | €2.7m | €3.0m | ▲ 7.3% |
| Amounts payable17/49 | €6.0m | €8.5m | €15.7m | €18.2m | €15.1m | ▼ 16.9% |
| Amounts payable within one year42/48 | €6.0m | €8.5m | €15.7m | €18.2m | €15.0m | ▼ 17.2% |
| Current portion of amounts payable after more than one year42 | - | €7.5m | €10.7m | €10.4m | €7.1m | ▼ 32.0% |
| Financial debts43 | - | - | €192,686 | - | €10,719 | - |
| Credit institutions430/8 | - | - | €192,686 | - | €10,719 | - |
| Trade debts44 | €155,304 | €958,236 | €447,634 | €1.2m | €538,312 | ▼ 56.0% |
| Suppliers440/4 | - | €958,236 | €447,634 | €1.2m | €538,312 | ▼ 56.0% |
| Taxes, remuneration and social security45 | - | €20,336 | €36,718 | €71,740 | €72,979 | ▲ 1.7% |
| Taxes450/3 | - | €756 | - | €3,528 | €2,283 | ▼ 35.3% |
| Remuneration and social security454/9 | - | €19,580 | €36,718 | €68,212 | €70,696 | ▲ 3.6% |
| Other amounts payable47/48 | - | €6,988 | €4.3m | €6.5m | €7.4m | ▲ 13.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €60,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€751,941 | -€713,461 | -€3.0m | -€3.3m | €273,495 | ▲ 108% |
| + Depreciation and write-downs630 | €131,378 | €538,393 | €2.5m | €3.1m | €1.8m | ▼ 41.3% |
| Operating cash flow (approximation) | -€620,563 | -€175,067 | -€459,891 | -€150,725 | €2.1m | ▲ 1,499% |
| Investment in fixed assets (approximation) | - | -€3.0m | -€4.4m | -€1.4m | -€2.6m | ▼ 90.9% |
| Change in cash | - | €283,156 | -€339,028 | €41,350 | -€41,350 | ▼ 200% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €273,495
Net result €273,495 after 4 loss-making years.
31-03
Financial
Equity above €500,000Eq €514,470 ▲1,169%
Equity rises from €40,536 to €514,470.
2024
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Weakest financial yearnet -€3.3m
Net result drops to -€3.3m, the lowest in the series; recovery starts the following year.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Tournai · 1 establishment unit since 2019
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.
Rue du Petit Tilleul 167522 TournaiGround area
1.7 ha
Building footprint
2,365 m²
Parcel 57031B0400/00H002, Wallonia. Linked by address, not a title deed.
1 establishment unit
QUALITY SET
since 20192.289.575.726
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57031B0400/00H002 | Wallonia | 1.7 ha | 1 · 2,365 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 301 companies in sector 47525 we hold annual accounts for 207. 167 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-04-2019
Fiscal year end31-03
Activities, NACEBEL 2025
25620Manufacture of fabricated metal products, except machinery and equipment
47525Retail trade
16230Manufacture of other builders' carpentry and joinery
Contact
E-mail
pierre@qset.be
E-mail
pmeulders@hotmail.comTournai
Phone
0475693240Tournai
E-invoicing
Reachable via Peppol
Peppol ID
0208:0724686109
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.