Quinthan
ActiveSummary
The annual accounts of Quinthan for fiscal year 2025 show a net loss of 58% of the equity at the start of that year. The 2025 annual accounts show equity of €14,452 and a net result of -€19,648. Equity is shrinking by ~29.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 18716 sector peers (fiscal year 2025). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-7
Solvency52▲+5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 10.57; short-term debt: 4% and cash: 38% of total assets), but 73.3% of the assets are financed with debt.
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Signals
Five 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
26.7%
Return on assets
-36.3%
Age of the figures
9 mo
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 -€19,648
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 27-05-2026, 65 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
65 d early
2024
112 d early
2023
23 d early
2022
33 d early
2021
53 d early
2020
19 d early
2019
14 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 46 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 8 June (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€14,452▼ 57.6%
2024 · €34,100
Total assets
€54,200▼ 64.7%
2024 · €153,752
Net result
-€19,648▼ 40.0%
2024 · -€14,031
Working capital
€20,871▼ 86.3%
2024 · €152,849
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€5,606-€1,521▲ 72.9%-€2,294▼ 50.8%-€14,066▼ 513%-€21,910▼ 55.8%
Net result-€6,483below the sector's middle half-€1,565within the sector's middle half▲ 75.9%-€2,261within the sector's middle half▼ 44.5%-€14,031below the sector's middle half▼ 521%-€19,648below the sector's middle half▼ 40.0%
Equity€173,458above the sector's middle half▼ 10.4%€65,993within the sector's middle half▼ 62.0%€48,132within the sector's middle half▼ 27.1%€34,100within the sector's middle half▼ 29.2%€14,452within the sector's middle half▼ 57.6%
Total assets€202,176within the sector's middle half▼ 3.4%€170,057within the sector's middle half▼ 15.9%€164,878within the sector's middle half▼ 3.0%€153,752within the sector's middle half▼ 6.7%€54,200below the sector's middle half▼ 64.7%
Debt€28,718▲ 83.0%€104,064▲ 262%€116,747▲ 12.2%€119,652▲ 2.5%€39,748▼ 66.8%
Working capital€201,029above the sector's middle half▼ 2.9%€115,675above the sector's middle half▼ 42.5%€149,060above the sector's middle half▲ 28.9%€152,849above the sector's middle half▲ 2.5%€20,871within the sector's middle half▼ 86.3%
Solvency85.8%above the sector's middle half▼ 6.7pp38.8%within the sector's middle half▼ 47.0pp29.2%within the sector's middle half▼ 9.6pp22.2%within the sector's middle half▼ 7.0pp26.7%within the sector's middle half▲ 4.5pp
Current ratio3.13above the sector's middle half10.42above the sector's middle half▲ 7.2910.57above the sector's middle half
Return on assets (ROA)-3.2%below the sector's middle half▼ 6.9pp-0.9%within the sector's middle half▲ 2.3pp-1.4%within the sector's middle half▼ 0.5pp-9.1%below the sector's middle half▼ 7.8pp-36.3%below the sector's middle half▼ 27.1pp
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 stays negative: a loss of €21,910 in 2025 against €14,066 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €54,200
Fixed assets
€31,147
Current assets
€23,053
Equity and liabilities €54,200
Equity
€14,452 ▼ 57.6%
Debt
€39,748 ▼ 66.8%
Debt's share of the balance-sheet total falls from 77.8% to 73.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€19,040▼
2024 · -€14,066
Cash flow
-€16,777▼
2024 · -€14,031
Quick ratio
10.36
Debt to equity
2.75▼
2024 · 3.51
ROE
-136.0%▼
2024 · -41.1%
Interest coverage
-471.16▼
2024 · -360.21
Debt ≤ 1 year
€2,182▲
2024 · €903
Debt > 1 year
€37,566▼
2024 · €118,050
Income taxes
€132▲
2024 · €44
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,221 companies that looked in July 2024 the way this one looks now, 3.8% went bankrupt within 24 months and 89% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.8%
went bankrupt
7.4%
stopped otherwise
89%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,221 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €245 | €245 | €41 | €0 | €2,871 | - |
| Other operating charges640/8 | €199 | €236 | €144 | €785 | €766 | ▼ 2.4% |
| Gross operating margin9900 | -€5,162 | -€1,040 | -€2,108 | -€13,281 | -€18,273 | ▼ 37.6% |
| Operating profit (loss)9901 | -€5,606 | -€1,521 | -€2,294 | -€14,066 | -€21,910 | ▼ 55.8% |
| Financial income75/76B | - | €1 | €67 | €118 | €2,435 | ▲ 1,962% |
| Recurring financial income75 | - | €1 | €67 | €118 | €2,435 | ▲ 1,962% |
| Financial charges65/66B | €877 | €45 | €35 | €39 | €40 | ▲ 3.5% |
| Recurring financial charges65 | €877 | €45 | €35 | €39 | €40 | ▲ 3.5% |
| Profit (loss) for the period before taxes9903 | -€6,483 | -€1,565 | -€2,261 | -€13,987 | -€19,516 | ▼ 39.5% |
| Income taxes67/77 | - | - | - | €44 | €132 | ▲ 199% |
| Profit (loss) for the period9904 | -€6,483 | -€1,565 | -€2,261 | -€14,031 | -€19,648 | ▼ 40.0% |
| Profit (loss) for the period to be appropriated9905 | -€6,483 | -€1,565 | -€2,261 | -€14,031 | -€19,648 | ▼ 40.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €202,176 | €170,057 | €164,878 | €153,752 | €54,200 | ▼ 64.7% |
| Fixed assets21/28 | €286 | €41 | €0 | - | €31,147 | - |
| Tangible fixed assets22/27 | €286 | €41 | €0 | - | €31,147 | - |
| Furniture and vehicles24 | €286 | €41 | €0 | - | €31,147 | - |
| Current assets29/58 | €201,890 | €170,016 | €164,878 | €153,752 | €23,053 | ▼ 85.0% |
| Stocks and contracts in progress3 | €630 | €480 | €480 | €450 | €450 | = |
| Stocks30/36 | €630 | €480 | €480 | €450 | €450 | = |
| Amounts receivable within one year40/41 | €400 | €599 | €311 | €1,443 | €821 | ▼ 43.1% |
| Trade receivables40 | €18 | €312 | €0 | €15 | €0 | ▼ 100% |
| Other amounts receivable41 | €382 | €287 | €311 | €1,428 | €821 | ▼ 42.5% |
| Current investments50/53 | - | - | - | €100,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €200,860 | €168,937 | €164,087 | €51,859 | €20,615 | ▼ 60.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,167 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €202,176 | €170,057 | €164,878 | €153,752 | €54,200 | ▼ 64.7% |
| Equity10/15 | €173,458 | €65,993 | €48,132 | €34,100 | €14,452 | ▼ 57.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €153,458 | €45,993 | €28,132 | €14,100 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Distributable reserves133 | €151,458 | €43,993 | €26,132 | €14,100 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | -€5,548 | - |
| Amounts payable17/49 | €28,718 | €104,064 | €116,747 | €119,652 | €39,748 | ▼ 66.8% |
| Amounts payable after more than one year17 | €27,858 | €49,723 | €100,928 | €118,050 | €37,566 | ▼ 68.2% |
| Other amounts payable178/9 | €27,858 | €49,723 | €100,928 | €118,050 | €37,566 | ▼ 68.2% |
| Amounts payable within one year42/48 | €861 | €54,341 | €15,818 | €903 | €2,182 | ▲ 142% |
| Trade debts44 | €16 | €441 | €218 | €879 | €2,182 | ▲ 148% |
| Suppliers440/4 | €16 | €441 | €218 | €879 | €2,182 | ▲ 148% |
| Taxes, remuneration and social security45 | €254 | - | €780 | €9 | €0 | ▼ 100% |
| Taxes450/3 | €254 | - | €780 | €9 | €0 | ▼ 100% |
| Other amounts payable47/48 | €592 | €53,900 | €14,820 | €15 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €699 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,483 | -€1,565 | -€2,261 | -€14,031 | -€19,648 | ▼ 40.0% |
| + Depreciation and write-downs630 | €245 | €245 | €41 | €0 | €2,871 | - |
| Operating cash flow (approximation) | -€6,238 | -€1,320 | -€2,220 | -€14,031 | -€16,777 | ▼ 19.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | -€31,924 | -€4,849 | -€112,228 | -€31,244 | ▲ 72.2% |
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
2026
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€19,648
Net result drops to -€19,648, the lowest in the series.
10-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 16current ratio 170.30
Current ratio from 10.42 to 170.30; short-term debt falls from €15,818 to €903.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 10.42
Current ratio from 3.13 to 10.42; short-term debt falls from €54,341 to €15,818.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 234.56
Current ratio from 113.10 to 234.56; short-term debt falls from €1,847 to €861.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 11current ratio 113.10
Current ratio from 10.69 to 113.10; short-term debt falls from €19,148 to €1,847.
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Highest result since 2018net €19,946 ▲27.7%
Operating result €29,908, net result €19,946, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Waasmunster · 1 establishment unit since 2014
Ground area
1,448 m²
Building footprint
496 m²
Volume, LiDAR
2,721 m³
Parcel 42342C1576/00X000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Quinthan
since 20142.234.150.322
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42342C1576/00X000 | Flanders | 1,448 m² | 1 · 496 m² | 9.1 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 627 EUR awarded · 627 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 627 EUR | 627 EUR |
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Of 12,927 companies in sector 47120 we hold annual accounts for 2,192. 1,328 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-11-1989
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
43990Other specialised construction activities
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438928463
Also
9925:BE0438928463
Registered
02-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.