Turnover
The accounts state no turnover.
The accounts state no turnover.
€1.7m of the debts are secured on the company's own assets. In 2023 that was €1.1m.
Green is investment, beige is depreciation. Land and buildings stand 41.9% higher than in 2024.
Short-term debts rose from €161,748 to €1.3m.
The 2017 accounts came latest: 56 days after the end of the period.
Lower solvency than 81% of companies in other professional activities. Sector median 42.6% · 818 companies.
The dashed line is the sector median: 0.1% across 188 companies (NACE 74, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 74, small). It does better than 10% of them on solvency, 38% on liquidity, 28% on profitability and 81% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,448 companies had the same profile as ROUTE 40 has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ROUTE 40 itself is lower: < 0.1% within 12 months. It rests on far more data about ROUTE 40 than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,448 companies, not a prediction for ROUTE 40. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.81 (1.99 in 2024), below 1. Short-term debt is 35.4% and cash 10.3% of total assets. 94.6% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 29 days before the deadline. In the sector (NACE 74), the median for financial year 2024 was 3 days before the deadline, and 38% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ROUTE 40 Onhaye | €3.7m | €228,303 | 5.4% | - |
| WILKENS C.S. Ghent | €3.7m | €565,586 | 85.8% | 6.5 |
| ERBOMAS Maaseik | €3.1m | €159,602 | 72.0% | - |
| Trusted Capital Woluwe-Saint-Pierre | €2.4m | €335,054 | 22.2% | - |
| VEERLE PATTYN LANGUAGE SERVICES Deinze | €4.5m | €98,851 | 63.5% | - |
| TOON GEVAERT Waregem | €1.8m | €323,107 | 64.4% | - |
| ADLOR CONSULTING Brussels | €1.4m | €263,601 | 73.6% | - |
These companies have the same main activity as ROUTE 40: translation services (NACE 74301). They are comparable in size and age: total assets between €1.4m and €4.5m, founded between 2007 and 2016.
ROUTE 40 files the abbreviated format. That format states no turnover. The gross margin rose from €60,820 in 2016 to €228,303 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
In November 2022, the Official Gazette published the appointment of Thibault LEONARD as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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