SCHELLAERT
ActiveSummary
SCHELLAERT has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.6m and a net result of -€544,305. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 63% of 2062 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability5▲+4
Solvency78▼-16
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 2.05 against 3.73 in 2024; short-term debt: 38.4% and cash: 6.5% of total assets), and 47.2% of the assets are financed with debt.
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Signals
Seven 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
52.8%
Return on assets
-11.3%
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 -€544,305
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
9 d early
2023
29 d early
2022
59 d early
2021
31 d early
2020
43 d early
2019
37 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 32 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 fastest grower in Aalst, Construction sector#7 employer in Aalst, Construction sector#8 oldest company in Aalst, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€544,305▲ 12.4%
2024 · -€621,442
Working capital
€1.9m▼ 24.7%
2024 · €2.6m
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€38,218▼ 82.1%€24,199▼ 36.7%€760,054▲ 3,041%-€713,010-€571,069▲ 19.9%
Net result€85,455▼ 64.5%€109,719▲ 28.4%€749,182▲ 583%-€621,442-€544,305▲ 12.4%
Equity€3.0m▲ 1.9%€3.0m▲ 2.4%€3.7m▲ 22.8%€3.1m▼ 16.7%€2.6m▼ 17.6%
Total assets€3.9m▼ 0.3%€4.2m▲ 8.6%€5.0m▲ 18.6%€4.5m▼ 10.7%€4.8m▲ 7.9%
Debt€934,457▼ 6.6%€1.2m▲ 28.3%€1.3m▲ 8.1%€1.4m▲ 6.5%€2.3m▲ 65.0%
Working capital€2.1m▲ 14.9%€2.1m▼ 0.7%€3.1m▲ 50.5%€2.6m▼ 17.9%€1.9m▼ 24.7%
Staff (FTE)25.3▲ 1.2%28.3▲ 11.9%36.6▲ 29.3%37.8▲ 3.3%37.7▼ 0.3%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €571,069 in 2025 against €713,010 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.8m
Fixed assets
€1.0m ▲ 8.7%
Current assets
€3.8m ▲ 7.7%
Equity and liabilities €4.8m
Equity
€2.6m ▼ 17.6%
Debt
€2.3m ▲ 65.0%
Debt's share of the balance-sheet total rises from 30.8% to 47.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€339,511▲
2024 · -€475,413
Cash flow
-€312,747▲
2024 · -€383,845
Current ratio
2.05▼
2024 · 3.73
Quick ratio
0.92▼
2024 · 1.62
Debt to equity
0.89▲
2024 · 0.45
ROE
-21.3%▼
2024 · -20.1%
ROA
-11.3%▲
2024 · -13.9%
Interest coverage
-6.39▲
2024 · -15.73
Debt ≤ 1 year
€1.9m▲
2024 · €946,803
Debt > 1 year
€403,370▼
2024 · €404,251
Income taxes
€2,377▼
2024 · €2,612
Staff costs
€2.6m▼
2024 · €2.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 926 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 90% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.1%
went bankrupt
8.7%
stopped otherwise
90%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 926 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 | - | - | €637,375 | €0 | - | - |
| Remuneration, social security and pensions62 | €1.5m | €1.8m | €2.5m | €2.6m | €2.6m | ▼ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €275,049 | €180,965 | €218,165 | €237,597 | €231,558 | ▼ 2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €7,679 | €25,196 | €35,402 | €24,582 | €19,176 | ▼ 22.0% |
| Non-recurring operating charges66A | €148,415 | €388 | €0 | - | - | - |
| Gross operating margin9900 | €2.0m | €2.0m | €3.5m | €2.2m | €2.2m | ▲ 3.4% |
| Operating profit (loss)9901 | €38,218 | €24,199 | €760,054 | -€713,010 | -€571,069 | ▲ 19.9% |
| Financial income75/76B | €95,749 | €97,637 | €112,694 | €124,407 | €82,251 | ▼ 33.9% |
| Recurring financial income75 | €95,749 | €97,637 | €112,694 | €124,407 | €82,251 | ▼ 33.9% |
| Financial charges65/66B | €13,389 | €13,835 | €22,729 | €30,228 | €53,109 | ▲ 75.7% |
| Recurring financial charges65 | €13,389 | €13,835 | €22,729 | €30,228 | €53,109 | ▲ 75.7% |
| Profit (loss) for the period before taxes9903 | €120,578 | €108,001 | €850,019 | -€618,830 | -€541,928 | ▲ 12.4% |
| Income taxes67/77 | €35,123 | -€1,718 | €100,837 | €2,612 | €2,377 | ▼ 9.0% |
| Profit (loss) for the period9904 | €85,455 | €109,719 | €749,182 | -€621,442 | -€544,305 | ▲ 12.4% |
| Profit (loss) for the period to be appropriated9905 | €85,455 | €109,719 | €749,182 | -€621,442 | -€544,305 | ▲ 12.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.9m | €4.2m | €5.0m | €4.5m | €4.8m | ▲ 7.9% |
| Fixed assets21/28 | €1.1m | €1.4m | €922,840 | €944,764 | €1.0m | ▲ 8.7% |
| Intangible fixed assets21 | €22,481 | €73,098 | €133,319 | €119,750 | €281,527 | ▲ 135% |
| Tangible fixed assets22/27 | €325,266 | €545,172 | €693,555 | €728,048 | €648,176 | ▼ 11.0% |
| Plant, machinery and equipment23 | €6,465 | €18,629 | €30,291 | €129,904 | €115,113 | ▼ 11.4% |
| Furniture and vehicles24 | €92,137 | €138,092 | €155,966 | €123,277 | €136,732 | ▲ 10.9% |
| Leasing and similar rights25 | - | €23,104 | €17,712 | €12,320 | €6,924 | ▼ 43.8% |
| Other tangible fixed assets26 | €226,664 | €365,347 | €489,586 | €462,547 | €389,407 | ▼ 15.8% |
| Financial fixed assets28 | €795,520 | €796,145 | €95,966 | €96,966 | €96,966 | = |
| Current assets29/58 | €2.7m | €2.8m | €4.1m | €3.5m | €3.8m | ▲ 7.7% |
| Stocks and contracts in progress3 | €1.3m | €1.6m | €2.2m | €2.0m | €2.1m | ▲ 4.5% |
| Stocks30/36 | €1.3m | €1.6m | €2.2m | €2.0m | €2.1m | ▲ 4.5% |
| Amounts receivable within one year40/41 | €676,582 | €831,511 | €1.2m | €1.2m | €1.4m | ▲ 13.6% |
| Trade receivables40 | €658,527 | €762,635 | €1.2m | €1.2m | €1.3m | ▲ 14.8% |
| Other amounts receivable41 | €18,056 | €68,876 | €25,962 | €44,695 | €36,718 | ▼ 17.8% |
| Current investments50/53 | €455,200 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €236,892 | €368,464 | €691,917 | €273,342 | €312,925 | ▲ 14.5% |
| Deferred charges and accrued income490/1 | €54,581 | €28,658 | €56,243 | €55,914 | €35,782 | ▼ 36.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.9m | €4.2m | €5.0m | €4.5m | €4.8m | ▲ 7.9% |
| Equity10/15 | €3.0m | €3.0m | €3.7m | €3.1m | €2.6m | ▼ 17.6% |
| Contributions10/11 | €124,000 | €124,000 | €124,000 | €124,000 | €124,000 | = |
| Capital10 | €124,000 | €124,000 | €124,000 | €124,000 | €124,000 | = |
| Issued capital100 | €124,000 | €124,000 | €124,000 | €124,000 | €124,000 | = |
| Reserves13 | €2.8m | €2.9m | €3.6m | €3.0m | €2.4m | ▼ 18.3% |
| Non-distributable reserves130/1 | €14,631 | €14,631 | €14,631 | €14,631 | €14,631 | = |
| Legal reserve130 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves not available under the articles1311 | - | €2,231 | €2,231 | €2,231 | €2,231 | = |
| Other1319 | €2,231 | - | - | - | - | - |
| Tax-exempt reserves132 | €43,500 | €43,500 | €43,500 | €43,500 | €43,500 | = |
| Distributable reserves133 | €2.8m | €2.8m | €3.5m | €2.9m | €2.4m | ▼ 18.7% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | - | - |
| Amounts payable17/49 | €934,457 | €1.2m | €1.3m | €1.4m | €2.3m | ▲ 65.0% |
| Amounts payable after more than one year17 | €268,058 | €444,743 | €348,900 | €404,251 | €403,370 | ▼ 0.2% |
| Financial debts170/4 | €268,058 | €444,743 | €348,900 | €404,251 | €403,370 | ▼ 0.2% |
| Amounts payable within one year42/48 | €643,278 | €720,406 | €941,441 | €946,803 | €1.9m | ▲ 96.0% |
| Current portion of amounts payable after more than one year42 | €131,401 | €185,511 | €181,277 | €327,316 | €969,500 | ▲ 196% |
| Trade debts44 | €287,915 | €282,385 | €389,334 | €311,974 | €545,445 | ▲ 74.8% |
| Suppliers440/4 | €287,915 | €282,385 | €389,334 | €311,974 | €545,445 | ▲ 74.8% |
| Advances received on contracts in progress46 | €900 | €1,000 | €245 | €0 | €46,220 | - |
| Taxes, remuneration and social security45 | €193,062 | €211,510 | €310,584 | €307,512 | €295,010 | ▼ 4.1% |
| Taxes450/3 | €32,806 | €34,640 | €53,325 | €64,262 | €65,303 | ▲ 1.6% |
| Remuneration and social security454/9 | €160,256 | €176,870 | €257,260 | €243,250 | €229,707 | ▼ 5.6% |
| Other amounts payable47/48 | €30,000 | €40,000 | €60,000 | €0 | - | - |
| Accrued charges and deferred income492/3 | €23,121 | €34,052 | €5,505 | €29,615 | €18,808 | ▼ 36.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €85,455 | €109,719 | €749,182 | -€621,442 | -€544,305 | ▲ 12.4% |
| + Depreciation and write-downs630 | €275,049 | €180,965 | €218,165 | €237,597 | €231,558 | ▼ 2.5% |
| Operating cash flow (approximation) | €360,504 | €290,685 | €967,347 | -€383,845 | -€312,747 | ▲ 18.5% |
| Investment in fixed assets (approximation) | - | -€452,114 | €273,411 | -€259,520 | -€313,463 | ▼ 20.8% |
| Change in cash | - | €131,572 | €323,453 | -€418,575 | €39,583 | ▲ 109% |
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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€621,442
Net result drops to -€621,442, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €749,182 ▲583%
Operating result €760,054, net result €749,182, both a record.
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-06
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 20 acts read
About the unread acts
We know of 20 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
20 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, Aalst · 5 establishment units since 1976
Ground area
3.3 ha
Building footprint
1.2 ha
Volume, LiDAR
29,414 m³
5 parcels, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
5 establishment units
SCHELLAERT NV
since 19762.012.141.472
Schellaert NV
since 20162.250.509.173
Halsesteenweg 21, 9402 Ninove
since 20172.268.299.270
Schellaert
since 20222.330.475.280
Schellaert NV
since 20232.340.292.670
5 parcels
Flanders
5
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062D0323/00P000 | Flanders | 1.0 ha | 1 · 1,488 m² | 9.9 m · 3 fl. |
| 41302C0975/00H003 | Flanders | 8,129 m² | 1 · 6,562 m² | - |
| 46009A0418/00B000 | Flanders | 7,974 m² | 1 · 1,513 m² | 10.3 m · 1 fl. |
| 41038A0330/00N005 | Flanders | 4,106 m² | 1 · 1,243 m² | 9.0 m · 1 fl. |
| 23403F0122/00B000 | Flanders | 2,595 m² | 1 · 702 m² | 12.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
5 of 5 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 owners · 1 holdingOwners 2
- Sourceaccounts MATAL 202550%
-
50%
Holdings 1
-
100%
According to the 2022 annual accounts of SCHELLAERT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,679 EUR awarded · 6,658 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 990 EUR | 990 EUR |
| 2024 | 1 | 1,140 EUR | 1,119 EUR |
| 2023 | 1 | 1,808 EUR | 1,808 EUR |
| 2022 | 1 | 2,741 EUR | 2,741 EUR |
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Of 913 companies in sector 43333 we hold annual accounts for 400. 92 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-03-1976
Fiscal year end31-12
Activities, NACEBEL 2025
43333Wallpapering and laying of floor and wall coverings in other materials
46833Wholesale trade
46442Wholesale trade
46831Wholesale of construction materials, general range
E-invoicing
Reachable via Peppol
Peppol ID
0208:0415893933
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.