Schilderwerken Morel

Active

Private limited companyfounded 20242 yrs active't Kruisken 8, 9840 Nazareth-De Pinte, BelgiumKBO/BCE: BE 1011.073.263

The computed 12-month bankruptcy probability of Schilderwerken Morel is 3.2% (moderate). The 2024 annual accounts show equity of €18k and a net result of €15k. Its solvency ranks better than 18% of 36375 sector peers (fiscal year 2024). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

49 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes

Profitability85

Solvency41

Growth-

Track record67

Bankruptcy probability, 12 months

3.2% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity short (current ratio 0.75; short-term debt: 72.1% and cash: 11.1% of total assets), and 84.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Young company

A young company has little track record yet and statistically fails more often than an established one.

KBO · incorporation date

Age against the risk zone

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

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

15.8%

Return on assets

13.2%

Age of the figures

24 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 36375 sector peers (2024).

NBB · sector comparison

Position among 36375 sector peers

Solvency

better than 18%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 29-04-2025, 1 day ahead of the deadline.

NBB · 1 filing

Deviation from the deadline

2024

1 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€18k

Total assets

€115k

Net result

€15k

Working capital

€-21k

Turnover and EBIT margin not published: the micro schema does not require them.

Balance-sheet composition

Assets €115k

45.9%

54.1%

Fixed assets €53k

Current assets €62k

Equity and liabilities €115k

15.8%

84.2%

Equity €18k

Debt €96k

Debt finances 84.2% of the balance-sheet total.

Key figures and ratios

2024 value

EBITDA

€27k

Cash flow

€21k

Solvency

15.8%

Current ratio

0.75

Quick ratio

0.64

Debt / equity

5.31

ROE

83.5%

ROA

13.2%

Interest coverage

42.95

Debt

€96k

Debt ≤ 1 year

€83k

Debt > 1 year

€14k

Income taxes

€5k

Staff costs

€24k

Filed annual accounts

As filed with the NBB · 2024

Balance sheet Code2024

Assets

Total assets20/58€115k

Fixed assets21/28€53k

Tangible fixed assets22/27€53k

Plant, machinery and equipment23€6k

Furniture and vehicles24€46k

Current assets29/58€62k

Stocks and contracts in progress3€9k

Stocks30/36€9k

Amounts receivable within one year40/41€38k

Trade receivables40€38k

Other amounts receivable41€240

Cash at bank and in hand54/58€13k

Deferred charges and accrued income490/1€2k

Equity and liabilities

Total equity and liabilities10/49€115k

Equity10/15€18k

Contributions10/11€3k

Reserves13€15k

Distributable reserves133€15k

Amounts payable17/49€96k

Amounts payable after more than one year17€14k

Financial debts170/4€14k

Amounts payable within one year42/48€83k

Current portion of amounts payable after more than one year42€19k

Financial debts43€172

Credit institutions430/8€172

Trade debts44€25k

Suppliers440/4€25k

Taxes, remuneration and social security45€14k

Taxes450/3€6k

Remuneration and social security454/9€7k

Other amounts payable47/48€25k

Income statement Code2024

Remuneration, social security and pensions62€24k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k

Other operating charges640/8€494

Gross operating margin9900€52k

Operating profit (loss)9901€21k

Financial charges65/66B€639

Recurring financial charges65€639

Profit (loss) for the period before taxes9903€21k

Income taxes67/77€5k

Profit (loss) for the period9904€15k

Profit (loss) for the period to be appropriated9905€15k

Appropriation of the result

Profit (loss) to be appropriated9906€15k

Transfer to equity691/2€15k

To other reserves6921€15k

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 1Filings 1

2025

29-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

NBB filing

Directors · office · real estate

Directors

1 act for this company is 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, Nazareth-De Pinte · 1 establishment unit since 2024

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

't Kruisken 89840 Nazareth-De Pinte

Ground area

883 m²

Building footprint

165 m²

Volume, LiDAR

913 m³

Parcel 44079B0041/00E002, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Schilderwerken Morel

't Kruisken 8, 9840 Nazareth-De PinteManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20242.361.268.921

1 parcel

Flanders 1 (100%)