QUORUM
ActiveSummary
QUORUM has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €737,628 and a net result of -€227,740. Equity is shrinking by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 90% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency100=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 3.26 against 6.23 in 2024; short-term debt: 12.4% and cash: 1.9% of total assets), and 12.4% of the assets are financed with debt.
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Signals
Four 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 30-06-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
3 d early
2023
2 d late
2022
16 d early
2021
14 d late
2020
on the day
2019
on the day
← 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 on the deadline day; 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 30-11-2026 and is due by 30-06-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-11-2026 close30-06-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€737,628▼ 39.0%
2024 · €1.2m
Total assets
€842,408▼ 35.1%
2024 · €1.3m
Net result
-€227,740
2024 · €771,551
Working capital
€235,816▼ 48.6%
2024 · €458,552
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€81,550-€129,345-€271,774▼ 110%€909,238-€228,764
Net result€62,984-€156,476-€291,830▼ 86.5%€771,551-€227,740
Equity€2.3m▲ 0.6%€2.2m▼ 6.7%€1.9m▼ 13.5%€1.2m▼ 35.4%€737,628▼ 39.0%
Total assets€2.8m▼ 0.9%€2.6m▼ 7.2%€2.4m▼ 7.3%€1.3m▼ 46.5%€842,408▼ 35.1%
Debt€501,146▼ 7.2%€455,069▼ 9.2%€555,669▲ 22.1%€88,311▼ 84.1%€104,780▲ 18.6%
Working capital€159,755▲ 308%-€44,954-€344,114▼ 665%€458,552€235,816▼ 48.6%
Staff (FTE)7.7▼ 19.8%7.3▼ 5.2%6.8▼ 6.8%4.3▼ 36.8%1.6▼ 62.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2023 Net result -87% on 2022. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €228,764 after €909,238 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €842,408
Fixed assets
€502,448 ▼ 33.2%
Current assets
€339,961 ▼ 37.8%
Equity and liabilities €842,408
Equity
€737,628 ▼ 39.0%
Debt
€104,780 ▲ 18.6%
Debt's share of the balance-sheet total rises from 6.8% to 12.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€223,760▼
2024 · €920,187
Cash flow
-€222,736▼
2024 · €782,499
Current ratio
3.26▼
2024 · 6.23
Quick ratio
2.32▼
2024 · 5.42
Debt to equity
0.14▲
2024 · 0.07
ROE
-30.9%▼
2024 · 63.8%
ROA
-27.0%▼
2024 · 59.4%
Interest coverage
-43.47▼
2024 · 46.33
Debt ≤ 1 year
€104,145▲
2024 · €87,675
Income taxes
€719▼
2024 · €119,321
Staff costs
€129,021▼
2024 · €238,871
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,827 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
14%
stopped otherwise
84%
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 0.6% 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 497,058 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% | 1.6% |
| 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 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 5,827 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 | - | - | €4,000 | €1.3m | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €297,612 | €307,464 | €323,426 | €238,871 | €129,021 | ▼ 46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,368 | €20,562 | €14,647 | €10,949 | €5,004 | ▼ 54.3% |
| Other operating charges640/8 | €10,968 | €12,410 | €24,924 | €17,644 | €5,586 | ▼ 68.3% |
| Non-recurring operating charges66A | - | - | €11,655 | €0 | - | - |
| Gross operating margin9900 | €406,497 | €211,092 | €102,878 | €1.2m | -€89,153 | ▼ 108% |
| Operating profit (loss)9901 | €81,550 | -€129,345 | -€271,774 | €909,238 | -€228,764 | ▼ 125% |
| Financial income75/76B | €1,807 | €2,220 | €653 | €1,495 | €6,890 | ▲ 361% |
| Recurring financial income75 | €1,807 | €2,220 | €653 | €1,495 | €6,890 | ▲ 361% |
| Financial charges65/66B | €17,044 | €19,390 | €16,945 | €19,861 | €5,147 | ▼ 74.1% |
| Recurring financial charges65 | €17,044 | €19,390 | €16,945 | €19,861 | €5,147 | ▼ 74.1% |
| Profit (loss) for the period before taxes9903 | €66,312 | -€146,516 | -€288,066 | €890,872 | -€227,021 | ▼ 125% |
| Income taxes67/77 | €3,328 | €9,960 | €3,764 | €119,321 | €719 | ▼ 99.4% |
| Profit (loss) for the period9904 | €62,984 | -€156,476 | -€291,830 | €771,551 | -€227,740 | ▼ 130% |
| Profit (loss) for the period to be appropriated9905 | €62,984 | -€156,476 | -€291,830 | €771,551 | -€227,740 | ▼ 130% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.6m | €2.4m | €1.3m | €842,408 | ▼ 35.1% |
| Fixed assets21/28 | €2.3m | €2.3m | €2.3m | €751,942 | €502,448 | ▼ 33.2% |
| Tangible fixed assets22/27 | €2.3m | €2.3m | €2.3m | €750,429 | €500,935 | ▼ 33.2% |
| Land and buildings22 | €2.2m | €2.2m | €2.2m | €739,362 | €494,041 | ▼ 33.2% |
| Plant, machinery and equipment23 | €37,374 | €51,054 | €16,179 | €3,275 | €2,563 | ▼ 21.7% |
| Furniture and vehicles24 | €5,169 | €2,079 | €12,219 | €7,792 | €4,331 | ▼ 44.4% |
| Financial fixed assets28 | €1,512 | €1,512 | €1,512 | €1,512 | €1,512 | = |
| Current assets29/58 | €549,949 | €336,807 | €170,311 | €546,227 | €339,961 | ▼ 37.8% |
| Stocks and contracts in progress3 | €257,815 | €248,847 | €138,841 | €71,143 | €98,251 | ▲ 38.1% |
| Stocks30/36 | €257,815 | €248,847 | €138,841 | €71,143 | €98,251 | ▲ 38.1% |
| Amounts receivable within one year40/41 | €36 | - | €818 | €126,483 | €225,328 | ▲ 78.1% |
| Trade receivables40 | - | - | - | €7,938 | €14,820 | ▲ 86.7% |
| Other amounts receivable41 | €36 | - | €818 | €118,545 | €210,508 | ▲ 77.6% |
| Cash at bank and in hand54/58 | €292,098 | €87,960 | €30,407 | €348,602 | €15,892 | ▼ 95.4% |
| Deferred charges and accrued income490/1 | - | - | €245 | €0 | €489 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.6m | €2.4m | €1.3m | €842,408 | ▼ 35.1% |
| Equity10/15 | €2.3m | €2.2m | €1.9m | €1.2m | €737,628 | ▼ 39.0% |
| Contributions10/11 | €205,183 | €205,183 | €205,183 | €205,183 | €205,183 | = |
| Revaluation surpluses12 | €1.9m | €1.9m | €1.9m | €433,022 | €188,532 | ▼ 56.5% |
| Reserves13 | €248,409 | €91,933 | €15,493 | €571,653 | €343,913 | ▼ 39.8% |
| Non-distributable reserves130/1 | €15,493 | €15,493 | €15,493 | €15,493 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | €15,493 | €15,493 | €15,493 | €15,493 | €0 | ▼ 100% |
| Distributable reserves133 | €232,916 | €76,439 | €0 | €556,160 | €343,913 | ▼ 38.2% |
| Profit (loss) carried forward14 | - | - | -€215,391 | €0 | - | - |
| Amounts payable17/49 | €501,146 | €455,069 | €555,669 | €88,311 | €104,780 | ▲ 18.6% |
| Amounts payable after more than one year17 | €110,952 | €73,308 | €41,244 | €0 | - | - |
| Financial debts170/4 | €110,952 | €73,308 | €41,244 | €0 | - | - |
| Amounts payable within one year42/48 | €390,194 | €381,761 | €514,424 | €87,675 | €104,145 | ▲ 18.8% |
| Current portion of amounts payable after more than one year42 | €44,683 | €37,644 | €48,436 | €0 | - | - |
| Financial debts43 | €150,000 | €150,000 | €200,000 | €0 | - | - |
| Credit institutions430/8 | €150,000 | €150,000 | €200,000 | €0 | - | - |
| Trade debts44 | €59,814 | €117,964 | €223,678 | €69,380 | €84,565 | ▲ 21.9% |
| Suppliers440/4 | €59,814 | €117,964 | €223,678 | €69,380 | €84,565 | ▲ 21.9% |
| Taxes, remuneration and social security45 | €64,688 | €51,603 | €11,460 | €18,295 | €19,580 | ▲ 7.0% |
| Taxes450/3 | €19,739 | €39,789 | €626 | €6,202 | €4,666 | ▼ 24.8% |
| Remuneration and social security454/9 | €44,949 | €11,813 | €10,834 | €12,093 | €14,913 | ▲ 23.3% |
| Other amounts payable47/48 | €71,009 | €24,550 | €30,851 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €635 | €635 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €62,984 | -€156,476 | -€291,830 | €771,551 | -€227,740 | ▼ 130% |
| + Depreciation and write-downs630 | €16,368 | €20,562 | €14,647 | €10,949 | €5,004 | ▼ 54.3% |
| Operating cash flow (approximation) | €79,352 | -€135,914 | -€277,183 | €782,499 | -€222,736 | ▼ 128% |
| Investment in fixed assets (approximation) | - | -€31,151 | €10,088 | €1.5m | €244,490 | ▼ 83.6% |
| Change in cash | - | -€204,138 | -€57,554 | €318,195 | -€332,710 | ▼ 205% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-11
Financial
Back to profitnet €771,551
Net result €771,551 after 2 loss-making years.
30-11
Financial
Liquidity times 19current ratio 6.23
Current ratio from 0.33 to 6.23; short-term debt falls from €514,424 to €87,675.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 2 days late
2023
30-11
Financial
Weakest financial yearnet -€291,830
Net result drops to -€291,830, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 14 days late
2021
30-11
Financial
Back to profitnet €62,984
Net result €62,984 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Knokke-Heist · 2 establishment units since 1986
Ground area
557 m²
Building footprint
488 m²
Volume, LiDAR
10,922 m³
2 parcels, Flanders · tallest building 27.4 m, ±8 floors. Linked by address, not a title deed.
2 establishment units
BOGAERT
since 19862.035.447.010
QUORUM
since 19942.035.447.208
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31334B0029/00B000 | Flanders | 384 m² | 1 · 384 m² | 27.4 m · 8 fl. |
| 31334B0320/00A000 | Flanders | 173 m² | 1 · 104 m² | 23.9 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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NYC
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EROS NEW TRADING
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Of 1,307 companies in sector 46423 we hold annual accounts for 810. 486 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
Founded31-07-1986
Fiscal year end30-11
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
47712Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0429379408
Also
9925:BE0429379408
Registered
20-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.