RETRO VERSO
ActiveSummary
RETRO VERSO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €16,864 and a net result of €11,546. Equity is growing by ~70.7% per year across the filed fiscal years. Its solvency ranks better than 44% of 11472 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability98▲+20
Solvency59▲+23
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity ample (current ratio 1.86 against 0.99 in 2024; short-term debt: 36.3% and cash: 17.5% of total assets), but 66.3% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 30-06-2025 was due by 31-01-2026 and was filed on 30-12-2025, 32 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
32 d early
2024
2 d early
2023
28 d early
2022
28 d early
2021
42 d early
2020
20 d early
2019
17 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 24 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€16,864▲ 217%
2024 · €5,318
Total assets
€50,062▲ 3.3%
2024 · €48,451
Net result
€11,546▲ 196%
2024 · €3,905
Working capital
€15,701
2024 · -€331
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€4,488▼ 4.9%€6,661▲ 48.4%-€7,414€5,064€12,675▲ 150%
Net result€4,844▲ 28.2%€6,527▲ 34.7%-€8,014€3,905€11,546▲ 196%
Equity€2,901€9,428▲ 225%€1,414▼ 85.0%€5,318▲ 276%€16,864▲ 217%
Total assets€21,331▼ 21.4%€38,131▲ 78.8%€25,783▼ 32.4%€48,451▲ 87.9%€50,062▲ 3.3%
Debt€18,430▼ 36.6%€28,703▲ 55.7%€24,369▼ 15.1%€43,133▲ 77.0%€33,197▼ 23.0%
Working capital-€492▲ 94.0%€20,866€12,992▼ 37.7%-€331€15,701
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 150% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €50,062
Fixed assets
€16,163 ▼ 21.7%
Current assets
€33,899 ▲ 21.9%
Equity and liabilities €50,062
Equity
€16,864 ▲ 217%
Debt
€33,197 ▼ 23.0%
Debt's share of the balance-sheet total falls from 89.0% to 66.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€17,160▲
2024 · €6,843
Cash flow
€16,032▲
2024 · €5,684
Current ratio
1.86▲
2024 · 0.99
Quick ratio
0.84▲
2024 · 0.36
Debt to equity
1.97▼
2024 · 8.11
ROE
68.5%▼
2024 · 73.4%
ROA
23.1%▲
2024 · 8.1%
Interest coverage
15.21▲
2024 · 5.90
Debt ≤ 1 year
€18,197▼
2024 · €28,133
Debt > 1 year
€15,000=
2024 · €15,000
Staff costs
€26▼
2024 · €5,047
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 26,964 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €26 | €5,047 | €26 | ▼ 99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,831 | €2,831 | €140 | €1,780 | €4,486 | ▲ 152% |
| Other operating charges640/8 | - | €2,487 | €2,547 | €757 | €291 | ▼ 61.6% |
| Non-recurring operating charges66A | - | - | - | €421 | - | - |
| Gross operating margin9900 | €9,788 | €11,979 | -€4,700 | €13,068 | €17,476 | ▲ 33.7% |
| Operating profit (loss)9901 | €4,488 | €6,661 | -€7,414 | €5,064 | €12,675 | ▲ 150% |
| Financial income75/76B | - | €335 | €89 | - | - | - |
| Recurring financial income75 | €1,108 | €335 | €89 | - | - | - |
| Financial charges65/66B | - | €469 | €689 | €1,159 | €1,128 | ▼ 2.6% |
| Recurring financial charges65 | €752 | €469 | €689 | €1,159 | €1,128 | ▼ 2.6% |
| Profit (loss) for the period before taxes9903 | €4,844 | €6,527 | -€8,014 | €3,905 | €11,546 | ▲ 196% |
| Profit (loss) for the period9904 | €4,844 | €6,527 | -€8,014 | €3,905 | €11,546 | ▲ 196% |
| Profit (loss) for the period to be appropriated9905 | €4,844 | €6,527 | -€8,014 | €3,905 | €11,546 | ▲ 196% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €21,331 | €38,131 | €25,783 | €48,451 | €50,062 | ▲ 3.3% |
| Fixed assets21/28 | €3,393 | €562 | €421 | €20,649 | €16,163 | ▼ 21.7% |
| Tangible fixed assets22/27 | €3,393 | €562 | €421 | €20,649 | €16,163 | ▼ 21.7% |
| Other tangible fixed assets26 | - | €562 | €421 | €20,649 | €16,163 | ▼ 21.7% |
| Current assets29/58 | €17,938 | €37,569 | €25,361 | €27,802 | €33,899 | ▲ 21.9% |
| Stocks and contracts in progress3 | €9,981 | €13,469 | €15,018 | €17,609 | €18,533 | ▲ 5.2% |
| Stocks30/36 | - | €13,469 | €15,018 | €17,609 | €18,533 | ▲ 5.2% |
| Amounts receivable within one year40/41 | €773 | €9,542 | €5,539 | €8,217 | €6,549 | ▼ 20.3% |
| Trade receivables40 | - | €9,542 | €5,539 | €8,217 | €6,549 | ▼ 20.3% |
| Cash at bank and in hand54/58 | €7,006 | €14,470 | €4,704 | €1,914 | €8,754 | ▲ 357% |
| Deferred charges and accrued income490/1 | - | €88 | €101 | €62 | €62 | ▲ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €21,331 | €38,131 | €25,783 | €48,451 | €50,062 | ▲ 3.3% |
| Equity10/15 | €2,901 | €9,428 | €1,414 | €5,318 | €16,864 | ▲ 217% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | -€9,499 | -€2,972 | -€10,986 | -€7,082 | €4,464 | ▲ 163% |
| Amounts payable17/49 | €18,430 | €28,703 | €24,369 | €43,133 | €33,197 | ▼ 23.0% |
| Amounts payable after more than one year17 | - | €12,000 | €12,000 | €15,000 | €15,000 | = |
| Financial debts170/4 | - | €12,000 | €12,000 | €15,000 | €15,000 | = |
| Amounts payable within one year42/48 | €18,430 | €16,703 | €12,369 | €28,133 | €18,197 | ▼ 35.3% |
| Trade debts44 | €6,033 | €2,463 | €856 | €10,787 | €378 | ▼ 96.5% |
| Suppliers440/4 | - | €2,463 | €856 | €10,787 | €378 | ▼ 96.5% |
| Taxes, remuneration and social security45 | - | €8,929 | €5,500 | €6,178 | €9,158 | ▲ 48.2% |
| Taxes450/3 | - | €8,929 | €5,500 | €6,073 | €9,158 | ▲ 50.8% |
| Remuneration and social security454/9 | - | - | - | €105 | - | - |
| Other amounts payable47/48 | - | €5,312 | €6,013 | €11,168 | €8,661 | ▼ 22.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,844 | €6,527 | -€8,014 | €3,905 | €11,546 | ▲ 196% |
| + Depreciation and write-downs630 | €2,831 | €2,831 | €140 | €1,780 | €4,486 | ▲ 152% |
| Operating cash flow (approximation) | €7,675 | €9,358 | -€7,874 | €5,684 | €16,032 | ▲ 182% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€22,007 | €0 | ▲ 100% |
| Change in cash | - | €7,464 | -€9,766 | -€2,789 | €6,840 | ▲ 345% |
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
30-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €11,546 ▲196%
Operating result €12,675, net result €11,546, both a record.
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Back to profitnet €3,905
Net result €3,905 after one loss-making year.
03-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Liquidity doublescurrent ratio 2.25
Current ratio from 0.97 to 2.25; short-term debt falls from €18,430 to €16,703.
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
11-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Back to profitnet €3,779
Net result €3,779 after one loss-making year.
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Pajottegem · 1 establishment unit since 2017
Ground area
977 m²
Building footprint
278 m²
Volume, LiDAR
1,907 m³
2 parcels, Flanders · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Retro Verso
since 20172.265.608.016
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23024E0741/00F000 | Flanders | 743 m² | 1 · 157 m² | 8.9 m · 2 fl. |
| 41002A1209/00B000 | Flanders | 234 m² | 1 · 121 m² | 15.2 m · 4 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
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Of 1,307 companies in sector 46423 we hold annual accounts for 810. 410 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
Founded30-06-2017
Fiscal year end30-06
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
14240Manufacture of wearing apparel
46424Wholesale trade
46425Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0677758893
Also
9925:BE0677758893
Registered
24-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.