SEAGULL
ActiveSEAGULL has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.09M and a net result of €482k. Equity is shrinking by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
73
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+5
Solvency54▲+10
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity tight (current ratio 1.4 against 1.13 in 2024; short-term debt: 59% and cash: 17% of total assets), and 70.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
29.2%
Return on assets
12.9%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.09M
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 30-04-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 d early
2024
45 d early
2023
34 d early
2022
12 d early
2021
5 d early
2020
4 d early
2019
25 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.09M▲ 130%
2024 · €472k
2018: €1.09M
2019: €1.07M
2020: €1.05M
2021: €941k
2022: €343k
2023: €243k
2024: €472k
2018 → 2025
Total assets
€3.72M▲ 51.0%
2024 · €2.47M
2018: €3.74M
2019: €3.38M
2020: €3.59M
2021: €4.24M
2022: €3.30M
2023: €2.54M
2024: €2.47M
2018 → 2025
Net result
€482k▲ 110%
2024 · €230k
2018: €-70k
2019: €-27k
2020: €100k
2021: €-72k
2022: €-598k
2023: €-101k
2024: €230k
2018 → 2025
Working capital
€873k▲ 293%
2024 · €222k
2018: €401k
2019: €429k
2020: €328k
2021: €-105k
2022: €-602k
2023: €-378k
2024: €222k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€941k-€343k▼ 63.5%€243k▼ 29.4%€472k▲ 94.7%€1.09M▲ 130%
Operating result€-53k-€-578k▼ 1,000%€-105k▲ 81.8%€280k€501k▲ 78.9%
Net result€-72k-€-598k▼ 731%€-101k▲ 83.1%€230k€482k▲ 110%
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 79% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.72M
Fixed assets
€653k▲ 23.2%
Current assets
€3.07M▲ 58.6%
Equity and liabilities €3.72M
Equity
€1.09M▲ 130%
Debt
€2.64M▲ 32.2%
The debt ratio falls from 80.8% to 70.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€646k▲
2024 · €409k
Cash flow
€627k▲
2024 · €358k
Solvency
29.2%▲
2024 · 19.2%
Current ratio
1.40▲
2024 · 1.13
Quick ratio
1.05▲
2024 · 0.80
Debt / equity
2.43▼
2024 · 4.22
ROE
44.3%▼
2024 · 48.6%
ROA
12.9%▲
2024 · 9.3%
Interest coverage
14.38▲
2024 · 7.79
Debt
€2.64M▲
2024 · €1.99M
Debt ≤ 1 year
€2.20M▲
2024 · €1.71M
Debt > 1 year
€430k▲
2024 · €280k
Income taxes
€65k▲
2024 · €180
Staff costs
€769k▲
2024 · €739k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.47M€3.72M▲
Fixed assets21/28€530k€653k▲
Intangible fixed assets21€0-
Tangible fixed assets22/27€516k€639k▲
Plant, machinery and equipment23€455k€589k▲
Furniture and vehicles24€9k€5k▼
Other tangible fixed assets26€52k€46k▼
Financial fixed assets28€15k€14k▼
Current assets29/58€1.94M€3.07M▲
Stocks and contracts in progress3€557k€760k▲
Stocks30/36€557k€760k▲
Amounts receivable within one year40/41€1.18M€1.67M▲
Trade receivables40€1.10M€1.46M▲
Other amounts receivable41€78k€218k▲
Cash at bank and in hand54/58€193k€634k▲
Deferred charges and accrued income490/1€10k€332▼
Equity and liabilities
Total equity and liabilities10/49€2.47M€3.72M▲
Equity10/15€472k€1.09M▲
Contributions10/11€250k€250k=
Capital10€250k€250k=
Issued capital100€250k€250k=
Reserves13€222k€704k▲
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Tax-exempt reserves132€21k€21k=
Distributable reserves133€177k€659k▲
Profit (loss) carried forward14€0-
Investment grants15-€132k
Amounts payable17/49€1.99M€2.64M▲
Amounts payable after more than one year17€280k€430k▲
Financial debts170/4-€150k
Other amounts payable178/9€280k€280k=
Amounts payable within one year42/48€1.71M€2.20M▲
Current portion of amounts payable after more than one year42€0€26k▲
Financial debts43€1.05M€1.16M▲
Credit institutions430/8€1.05M€1.16M▲
Trade debts44€555k€812k▲
Suppliers440/4€555k€812k▲
Taxes, remuneration and social security45€112k€195k▲
Taxes450/3€15k€85k▲
Remuneration and social security454/9€98k€110k▲
Accrued charges and deferred income492/3€686€11k▲
Income statement
Code20242025
Non-recurring operating income76A€31k€0▼
Remuneration, social security and pensions62€739k€769k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€128k€145k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€10k€-676▼
Other operating charges640/8€2k€7k▲
Gross operating margin9900€1.16M€1.42M▲
Operating profit (loss)9901€280k€501k▲
Financial income75/76B€2k€90k▲
Recurring financial income75€2k€90k▲
Financial charges65/66B€52k€45k▼
Recurring financial charges65€52k€45k▼
Profit (loss) for the period before taxes9903€230k€547k▲
Income taxes67/77€180€65k▲
Profit (loss) for the period9904€230k€482k▲
Profit (loss) for the period to be appropriated9905€230k€482k▲
Appropriation of the result
Profit (loss) to be appropriated9906€177k€482k▲
Profit (loss) brought forward from the previous period14P€-53k€0▲
Transfer from equity791/2€0-
Transfer to equity691/2€177k€482k▲
To other reserves6921€177k€482k▲
Social balance
Average headcount (FTE)908718.516.2▼
The notes to these accounts (25 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €482k ▲110%
Operating result €501k, net result €482k, both a record.
31-12
Financial
Equity above €1MEq €1.09M ▲130%
2 profitable years in a row build equity to €1.09M.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €230k
Net result €230k after 3 loss-making years.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-598k
Net result drops to €-598k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €100k
Net result €100k after 2 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 25 days late
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
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.
Directors · office · real estate
Directors
13 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, Brugge · 1 establishment unit since 1983
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.
Gotevlietstraat 138000 BruggeGround area
7,638 m²
Building footprint
2,364 m²
Volume, LiDAR
10,799 m³
Parcel 31810N0211/00E002, Flanders · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SEAGULL
since 19832.023.391.492
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31810N0211/00E002 | Flanders | 7,638 m² | 1 · 2,364 m² | 6.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
2023 · 1 entry · 100,000 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 100,000 EUR | 0 EUR |
Schemes
Investeringssteun en andere maatregelen
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.023.391.492
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Of 98 companies in sector 10200 we hold annual accounts for 56. 35 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-11-1983
Fiscal year end31-12
Activities, NACEBEL
10200Manufacture of food products
15201
46323Wholesale trade
51381
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.