RECORD
ActiveSummary
RECORD has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €282,927. Equity is growing by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 47% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+1
Solvency66▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.82 in 2024; short-term debt: 56.1% and cash: 3.3% of total assets), but 58.7% 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 →
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
41.3%
Return on assets
7.3%
Age of the figures
18 mo
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 13-10-2025, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
on the day
2023
1 d early
2022
2 d late
2021
18 d late
2020
1 d early
2019
31 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 4 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
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, abbreviated schema
In the rankings
#6 employer in Maldegem, Wholesale and retail trade sector#9 oldest company in Maldegem, Wholesale and retail trade sector
Equity
€1.6m▲ 21.5%
2024 · €1.3m
Total assets
€3.9m▲ 23.8%
2024 · €3.1m
Net result
€282,927▲ 36.4%
2024 · €207,407
Working capital
€1.4m▲ 11.8%
2024 · €1.3m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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€221,566▲ 4.3%€184,528▼ 16.7%€202,505▲ 9.7%€326,307▲ 61.1%€415,271▲ 27.3%
Net result€82,524within the sector's middle half▼ 8.7%€75,973within the sector's middle half▼ 7.9%€83,120within the sector's middle half▲ 9.4%€207,407above the sector's middle half▲ 150%€282,927above the sector's middle half▲ 36.4%
Equity€950,300within the sector's middle half▲ 9.5%€1.0mwithin the sector's middle half▲ 8.0%€1.1mwithin the sector's middle half▲ 8.1%€1.3mabove the sector's middle half▲ 18.7%€1.6mabove the sector's middle half▲ 21.5%
Total assets€3.2mabove the sector's middle half▼ 9.4%€3.4mabove the sector's middle half▲ 7.5%€2.9mabove the sector's middle half▼ 15.1%€3.1mabove the sector's middle half▲ 7.1%€3.9mabove the sector's middle half▲ 23.8%
Debt€2.2m▼ 15.6%€2.4m▲ 7.3%€1.8m▼ 24.9%€1.8m=€2.3m▲ 25.5%
Working capital€756,513within the sector's middle half▼ 18.4%€986,352above the sector's middle half▲ 30.4%€983,712above the sector's middle half▼ 0.3%€1.3mabove the sector's middle half▲ 31.2%€1.4mabove the sector's middle half▲ 11.8%
Solvency29.7%within the sector's middle half▲ 5.1pp29.8%within the sector's middle half▲ 0.1pp38.0%within the sector's middle half▲ 8.1pp42.1%within the sector's middle half▲ 4.1pp41.3%within the sector's middle half▼ 0.8pp
Current ratio1.39within the sector's middle half▼ 0.041.49within the sector's middle half▲ 0.091.61within the sector's middle half▲ 0.131.82within the sector's middle half▲ 0.201.66within the sector's middle half▼ 0.15
Return on assets (ROA)2.6%within the sector's middle half=2.2%within the sector's middle half▼ 0.4pp2.8%within the sector's middle half▲ 0.6pp6.6%within the sector's middle half▲ 3.8pp7.3%within the sector's middle half▲ 0.7pp
Staff (FTE)21.1above the sector's middle half▼ 9.4%20.5above the sector's middle half▼ 2.8%20.2above the sector's middle half▼ 1.5%18.8above the sector's middle half▼ 6.9%17.8above the sector's middle half▼ 5.3%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 27% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.9m
Fixed assets
€257,559 ▲ 1.2%
Current assets
€3.6m ▲ 25.8%
Equity and liabilities €3.9m
Equity
€1.6m ▲ 21.5%
Debt
€2.3m ▲ 25.5%
Debt's share of the balance-sheet total rises from 57.9% to 58.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€494,951▲
2024 · €415,070
Cash flow
€362,608▲
2024 · €296,169
Quick ratio
1.05▲
2024 · 0.99
Debt to equity
1.42▲
2024 · 1.38
ROE
17.7%▲
2024 · 15.8%
Interest coverage
16.87▲
2024 · 9.64
Debt ≤ 1 year
€2.2m▲
2024 · €1.6m
Debt > 1 year
€90,096▼
2024 · €177,734
Income taxes
€103,180▲
2024 · €77,759
Staff costs
€1.0m▲
2024 · €959,993
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 20,129 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 | - | - | - | - | €4,482 | - |
| Remuneration, social security and pensions62 | - | €978,728 | €1.0m | €959,993 | €1.0m | ▲ 4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €109,680 | €112,578 | €102,566 | €88,762 | €79,680 | ▼ 10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €8,306 | - | €453 | - | - |
| Other operating charges640/8 | - | €13,324 | €14,232 | €14,314 | €14,974 | ▲ 4.6% |
| Gross operating margin9900 | €1.3m | €1.3m | €1.3m | €1.4m | €1.5m | ▲ 8.8% |
| Operating profit (loss)9901 | €221,566 | €184,528 | €202,505 | €326,307 | €415,271 | ▲ 27.3% |
| Financial income75/76B | - | €202 | €4,697 | €1,899 | €173 | ▼ 90.9% |
| Recurring financial income75 | €740 | €202 | €4,697 | €1,899 | €173 | ▼ 90.9% |
| Financial charges65/66B | - | €85,193 | €89,596 | €43,040 | €29,336 | ▼ 31.8% |
| Recurring financial charges65 | €124,041 | €85,193 | €89,596 | €43,040 | €29,336 | ▼ 31.8% |
| Profit (loss) for the period before taxes9903 | €98,265 | €99,537 | €117,606 | €285,166 | €386,108 | ▲ 35.4% |
| Income taxes67/77 | €15,742 | €23,565 | €34,486 | €77,759 | €103,180 | ▲ 32.7% |
| Profit (loss) for the period9904 | €82,524 | €75,973 | €83,120 | €207,407 | €282,927 | ▲ 36.4% |
| Profit (loss) for the period to be appropriated9905 | €82,524 | €75,973 | €83,120 | €207,407 | €282,927 | ▲ 36.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.2m | €3.4m | €2.9m | €3.1m | €3.9m | ▲ 23.8% |
| Fixed assets21/28 | €516,752 | €423,263 | €329,447 | €254,584 | €257,559 | ▲ 1.2% |
| Tangible fixed assets22/27 | €516,482 | €422,993 | €329,177 | €254,314 | €257,289 | ▲ 1.2% |
| Land and buildings22 | - | €288,293 | €241,431 | €197,396 | €154,766 | ▼ 21.6% |
| Plant, machinery and equipment23 | - | €18,383 | €21,018 | €22,611 | €43,196 | ▲ 91.0% |
| Furniture and vehicles24 | - | €55,554 | €26,966 | €15,545 | €59,327 | ▲ 282% |
| Leasing and similar rights25 | - | €60,762 | €39,762 | €18,762 | - | - |
| Financial fixed assets28 | €270 | €270 | €270 | €270 | €270 | = |
| Current assets29/58 | €2.7m | €3.0m | €2.6m | €2.9m | €3.6m | ▲ 25.8% |
| Stocks and contracts in progress3 | €1.7m | €1.6m | €1.2m | €1.3m | €1.3m | ▲ 3.1% |
| Stocks30/36 | - | €1.6m | €1.2m | €1.3m | €1.3m | ▲ 3.1% |
| Amounts receivable within one year40/41 | €974,457 | €1.4m | €1.3m | €1.4m | €2.1m | ▲ 53.0% |
| Trade receivables40 | - | €1.3m | €1.3m | €1.4m | €2.1m | ▲ 52.7% |
| Other amounts receivable41 | - | €40,470 | - | €1,920 | €6,586 | ▲ 243% |
| Cash at bank and in hand54/58 | €16,521 | €39,772 | €37,641 | €160,572 | €126,269 | ▼ 21.4% |
| Deferred charges and accrued income490/1 | - | €10,246 | €15,486 | €14,011 | €9,443 | ▼ 32.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.2m | €3.4m | €2.9m | €3.1m | €3.9m | ▲ 23.8% |
| Equity10/15 | €950,300 | €1.0m | €1.1m | €1.3m | €1.6m | ▲ 21.5% |
| Contributions10/11 | - | €317,304 | €317,304 | €317,304 | €317,304 | = |
| Reserves13 | €460,060 | €460,060 | €460,060 | €460,060 | €460,060 | = |
| Non-distributable reserves130/1 | - | €31,730 | €31,730 | - | - | - |
| Reserves not available under the articles1311 | - | €31,730 | €31,730 | - | - | - |
| Distributable reserves133 | - | €428,329 | €428,329 | €460,060 | €460,060 | = |
| Profit (loss) carried forward14 | €172,936 | €248,909 | €332,029 | €539,435 | €822,363 | ▲ 52.4% |
| Amounts payable17/49 | €2.2m | €2.4m | €1.8m | €1.8m | €2.3m | ▲ 25.5% |
| Amounts payable after more than one year17 | €322,965 | €383,342 | €203,766 | €177,734 | €90,096 | ▼ 49.3% |
| Financial debts170/4 | - | €383,342 | €203,766 | €177,734 | €90,096 | ▼ 49.3% |
| Amounts payable within one year42/48 | €1.9m | €2.0m | €1.6m | €1.6m | €2.2m | ▲ 37.2% |
| Current portion of amounts payable after more than one year42 | - | €415,012 | €408,787 | €395,175 | €390,508 | ▼ 1.2% |
| Trade debts44 | €1.3m | €1.3m | €999,723 | €984,642 | €1.6m | ▲ 64.1% |
| Suppliers440/4 | - | €1.3m | €999,723 | €984,642 | €1.6m | ▲ 64.1% |
| Taxes, remuneration and social security45 | - | €84,941 | €92,262 | €181,707 | €139,506 | ▼ 23.2% |
| Taxes450/3 | - | €8,565 | €92,262 | €115,453 | €58,180 | ▼ 49.6% |
| Remuneration and social security454/9 | - | €76,377 | - | €66,254 | €81,325 | ▲ 22.7% |
| Other amounts payable47/48 | - | €219,209 | €106,554 | €21,513 | €25,958 | ▲ 20.7% |
| Accrued charges and deferred income492/3 | - | - | - | €50,435 | €10,968 | ▼ 78.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82,524 | €75,973 | €83,120 | €207,407 | €282,927 | ▲ 36.4% |
| + Depreciation and write-downs630 | €109,680 | €112,578 | €102,566 | €88,762 | €79,680 | ▼ 10.2% |
| Operating cash flow (approximation) | €192,204 | €188,551 | €185,686 | €296,169 | €362,608 | ▲ 22.4% |
| Investment in fixed assets (approximation) | - | -€19,089 | -€8,750 | -€13,900 | -€82,655 | ▼ 495% |
| Change in cash | - | €23,251 | -€2,131 | €122,931 | -€34,302 | ▼ 128% |
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
13-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2019net €282,927 ▲36.4%
Operating result €415,271, net result €282,927, both a record.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
02-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 2 days late
31-03
Financial
Equity above €1mEq €1.0m ▲8%
4 profitable years in a row build equity to €1.0m.
2021
18-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 18 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
30-09
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 3 acts read
About the unread acts
We know of 3 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
3 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, Maldegem · 1 establishment unit since 1981
Ground area
1.0 ha
Building footprint
5,583 m²
Volume, LiDAR
34,105 m³
Parcel 43503F0728/00L000, Flanders · tallest building 11.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
RECORD
since 19812.018.255.343
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43503F0728/00L000 | Flanders | 1.0 ha | 1 · 5,583 m² | 11.3 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
2022 to 2025 · 6 entries · 14,078 EUR awarded · 13,883 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,265 EUR | 1,265 EUR |
| 2024 | 2 | 4,106 EUR | 3,911 EUR |
| 2023 | 2 | 6,151 EUR | 6,151 EUR |
| 2022 | 1 | 2,556 EUR | 2,556 EUR |
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Of 338 companies in sector 46713 we hold annual accounts for 204. 130 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
Founded31-12-1980
Fiscal year end31-03
Activities, NACEBEL 2025
28300Manufacture of machinery and equipment not elsewhere classified
46713Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0421154994
Registered
09-07-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.