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SELECT PRODUCT

Active
Public limited companyfounded 199035 yrs activeRue de Liège(CO) 5, 6180 Courcelles, BelgiumKBO/BCE: BE 0441.567.457
Summary

SELECT PRODUCT has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.10M and a net result of €-616k. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 21% of 4886 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability33▼-22
Solvency45▼-8
Growth52▲+1
Track record100
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity short (current ratio 0.77 against 0.83 in 2024; short-term debt: 54.2% and cash: 0.3% of total assets), and 80.4% of the assets are financed with debt.
Credit check 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 35 years 0 40 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
19.6%
Return on assets
-5.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year €-616k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 4886 sector peers (2025).
NBB · sector comparison
Position among 4886 sector peers
Solvency
better than 21%
← weakest strongest →
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
24 d early
2024
23 d early
2023
47 d early
2022
44 d early
2021
43 d early
2020
49 d early
2019
47 d early
← before the deadline after the deadline →
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 months
Position in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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 2025, full schema

Turnover
€16.97M▲ 13.0%
2024 · €15.03M
2019: €12.25Mlowest in 7 years 2020: €14.50M▲ +18.4% vs 2019 2021: €15.14M▲ +4.4% vs 2020 2022: €13.50M▼ -10.9% vs 2021 2023: €14.54M▲ +7.7% vs 2022 2024: €15.03M▲ +3.3% vs 2023 2025: €16.97M▲ +13.0% vs 2024highest in 7 years
2019 → 2025
EBIT margin
-3.2%▼ 0.8pp
2024 · -2.4%
2019: 3.8%highest in 7 years 2020: 3.1%▼ -18.5% vs 2019 2021: 1.3%▼ -58.7% vs 2020 2022: 1.3%▲ +2.6% vs 2021 2023: 1.9%▲ +47.0% vs 2022 2024: -2.4%▼ -225% vs 2023 2025: -3.2%▼ -34.0% vs 2024lowest in 7 years
2019 → 2025
Net result
€-616k▼ 91.5%
2024 · €-322k
2018: €421khighest in 8 years 2019: €333k▼ -20.8% vs 2018 2020: €333k▼ -0.1% vs 2019 2021: €13k▼ -96.1% vs 2020 2022: €94k▲ +618% vs 2021 2023: €186k▲ +98.9% vs 2022 2024: €-322k▼ -273% vs 2023 2025: €-616k▼ -91.5% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-1.31M▼ 84.3%
2024 · €-708k
2018: €1.07Mhighest in 8 years 2019: €-638k▼ -159% vs 2018 2020: €-1.72M▼ -169% vs 2019lowest in 8 years 2021: €419k▲ +124% vs 2020 2022: €-68k▼ -116% vs 2021 2023: €-373k▼ -448% vs 2022 2024: €-708k▼ -89.8% vs 2023 2025: €-1.31M▼ -84.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20212022202320242025Trend
Turnover€15.14M-€13.50M▼ 10.9%€14.54M▲ 7.7%€15.03M▲ 3.3%€16.97M▲ 13.0% 2021: €15.14M 2022: €13.50M▼ -10.9% vs 2021lowest in 5 years 2023: €14.54M▲ +7.7% vs 2022 2024: €15.03M▲ +3.3% vs 2023 2025: €16.97M▲ +13.0% vs 2024highest in 5 years
Equity€2.50M-€2.58M▲ 3.2%€2.75M▲ 6.7%€2.75M▲ 0.1%€2.10M▼ 23.8% 2021: €2.50M 2022: €2.58M▲ +3.2% vs 2021 2023: €2.75M▲ +6.7% vs 2022 2024: €2.75M▲ +0.1% vs 2023highest in 5 years 2025: €2.10M▼ -23.8% vs 2024lowest in 5 years
Operating result€192k-€175k▼ 8.5%€278k▲ 58.4%€-358k€-542k▼ 51.4% 2021: €192k 2022: €175k▼ -8.5% vs 2021 2023: €278k▲ +58.4% vs 2022highest in 5 years 2024: €-358k▼ -229% vs 2023 2025: €-542k▼ -51.4% vs 2024lowest in 5 years
Net result€13k-€94k▲ 618%€186k▲ 98.9%€-322k€-616k▼ 91.5% 2021: €13k 2022: €94k▲ +618% vs 2021 2023: €186k▲ +98.9% vs 2022highest in 5 years 2024: €-322k▼ -273% vs 2023 2025: €-616k▼ -91.5% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
€-750k€-500k€-250k€0€250kOperating result 2021: €192k€192kNet result 2021: €13k€13kOperating result 2022: €175k€175kNet result 2022: €94k€94kOperating result 2023: €278k€278kNet result 2023: €186k€186kOperating result 2024: €-358k€-358kNet result 2024: €-322k€-322kOperating result 2025: €-542k€-542kNet result 2025: €-616k€-616k20212022202320242025€-750k€-500k€-250k€0€250kOperating result 2023: €278k€278kNet result 2023: €186k€186kOperating result 2024: €-358k€-358kNet result 2024: €-322k€-322kOperating result 2025: €-542k€-542kNet result 2025: €-616k€-616k202320242025
The operating result stays negative: a loss of €542k in 2025 against €358k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.69M
Fixed assets €6.20M ▼ 3.9%
Current assets €4.49M ▲ 28.4%
Equity and liabilities €10.69M
Equity €2.10M ▼ 23.8%
Debt €8.59M ▲ 19.4%
Debt's share of the balance-sheet total rises from 72.3% to 80.4%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€509k▼
2024 · €559k
Cash flow
€434k▼
2024 · €595k
Current ratio
0.77▼
2024 · 0.83
Quick ratio
0.54▼
2024 · 0.59
Debt to equity
4.10▲
2024 · 2.62
ROE
-29.4%▼
2024 · -11.7%
ROA
-5.8%▼
2024 · -3.2%
Interest coverage
2.55▼
2024 · 6.13
Debt ≤ 1 year
€5.79M▲
2024 · €4.21M
Debt > 1 year
€2.74M▼
2024 · €2.98M
Income taxes
€1k▼
2024 · €2k
Staff costs
€128k▲
2024 · €104k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 80 lines
Balance sheet Code20242025
Assets
Total assets20/58€9.95M€10.69M▲
Fixed assets21/28€6.45M€6.20M▼
Intangible fixed assets21€4k€83k▲
Tangible fixed assets22/27€5.40M€5.06M▼
Land and buildings22€2.88M€2.61M▼
Plant, machinery and equipment23€814k€798k▼
Furniture and vehicles24€1.49M€1.02M▼
Leasing and similar rights25€216k€606k▲
Assets under construction and advance payments27€2k€31k▲
Financial fixed assets28€1.05M€1.05M▲
Affiliated companies280/1€1.05M€1.05M▲
Participating interests280€643k€643k=
Amounts receivable281€402k€410k▲
Other financial fixed assets284/8€1k€1k=
Amounts receivable and cash guarantees285/8€1k€1k=
Current assets29/58€3.50M€4.49M▲
Stocks and contracts in progress3€1.03M€1.36M▲
Stocks30/36€1.03M€1.36M▲
Goods purchased for resale34€1.03M€1.36M▲
Amounts receivable within one year40/41€2.42M€3.08M▲
Trade receivables40€2.41M€2.96M▲
Other amounts receivable41€9k€123k▲
Cash at bank and in hand54/58€48k€30k▼
Deferred charges and accrued income490/1€7k€19k▲
Equity and liabilities
Total equity and liabilities10/49€9.95M€10.69M▲
Equity10/15€2.75M€2.10M▼
Contributions10/11€1.05M€1.05M=
Capital10€1.05M€1.05M=
Issued capital100€1.05M€1.05M=
Reserves13€105k€105k=
Non-distributable reserves130/1€105k€105k=
Legal reserve130€105k€105k=
Profit (loss) carried forward14€1.22M€601k▼
Investment grants15€376k€337k▼
Amounts payable17/49€7.20M€8.59M▲
Amounts payable after more than one year17€2.98M€2.74M▼
Financial debts170/4€2.98M€2.74M▼
Leasing and similar obligations172€170k€395k▲
Credit institutions173€2.82M€2.35M▼
Amounts payable within one year42/48€4.21M€5.79M▲
Current portion of amounts payable after more than one year42€575k€647k▲
Financial debts43€1.70M€2.60M▲
Credit institutions430/8€1.70M€2.60M▲
Trade debts44€1.84M€2.46M▲
Suppliers440/4€1.84M€2.46M▲
Taxes, remuneration and social security45€89k€85k▼
Taxes450/3€77k€71k▼
Remuneration and social security454/9€12k€13k▲
Accrued charges and deferred income492/3€8k€53k▲
Income statement Code20242025
Operating income70/76A€15.05M€17.00M▲
Turnover70€15.03M€16.97M▲
Own construction capitalised72-€14k
Other operating income74€23k€13k▼
Non-recurring operating income76A€7k-
Operating charges60/66A€15.41M€17.54M▲
Goods for resale, raw materials and consumables60€10.99M€13.24M▲
Purchases600/8€11.53M€13.57M▲
Change in stocks: decrease (increase)609€-541k€-333k▲
Services and other goods61€3.01M€3.09M▲
Remuneration, social security and pensions62€104k€128k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€917k€1.05M▲
Other operating charges640/8€22k€24k▲
Non-recurring operating charges66A€367k€9k▼
Operating profit (loss)9901€-358k€-542k▼
Financial income75/76B€133k€129k▼
Recurring financial income75€133k€129k▼
Other financial income752/9€133k€129k▼
Financial charges65/66B€95k€202k▲
Recurring financial charges65€95k€202k▲
Debt charges650€91k€199k▲
Other financial charges652/9€4k€3k▼
Profit (loss) for the period before taxes9903€-319k€-615k▼
Income taxes67/77€2k€1k▼
Taxes670/3€3k€1k▼
Tax adjustments and reversals of tax provisions77€57-
Profit (loss) for the period9904€-322k€-616k▼
Profit (loss) for the period to be appropriated9905€-322k€-616k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.22M€601k▼
Profit (loss) brought forward from the previous period14P€1.54M€1.22M▼
Social balance
Average headcount (FTE)90872.22.4▲

The notes to these accounts (74 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement
Line20212022202320242025Change
Operating income70/76A€15.24M€13.60M€14.74M€15.05M€17.00M▲ 12.9%
Turnover70€15.14M€13.50M€14.54M€15.03M€16.97M▲ 13.0%
Own construction capitalised72----€14k-
Other operating income74€105k€105k€204k€23k€13k▼ 45.4%
Non-recurring operating income76A---€7k--
Operating charges60/66A€15.05M€13.43M€14.46M€15.41M€17.54M▲ 13.8%
Goods for resale, raw materials and consumables60€11.51M€10.11M€10.94M€10.99M€13.24M▲ 20.5%
Purchases600/8€11.82M€10.15M€10.16M€11.53M€13.57M▲ 17.7%
Change in stocks: decrease (increase)609€-310k€-41k€782k€-541k€-333k▲ 38.6%
Services and other goods61€2.49M€2.07M€2.48M€3.01M€3.09M▲ 2.5%
Remuneration, social security and pensions62€151k€148k€103k€104k€128k▲ 23.7%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€887k€1.07M€924k€917k€1.05M▲ 14.6%
Other operating charges640/8€17k€17k€18k€22k€24k▲ 13.2%
Non-recurring operating charges66A---€367k€9k▼ 97.6%
Operating profit (loss)9901€192k€175k€278k€-358k€-542k▼ 51.4%
Financial income75/76B€16k€44k€141k€133k€129k▼ 3.2%
Recurring financial income75€14k€21k€141k€133k€129k▼ 3.2%
Income from financial fixed assets750€1k€8k€126k---
Other financial income752/9€13k€13k€15k€133k€129k▼ 3.2%
Non-recurring financial income76B€2k€23k----
Financial charges65/66B€192k€106k€219k€95k€202k▲ 113%
Recurring financial charges65€192k€106k€219k€95k€202k▲ 113%
Debt charges650--€219k€91k€199k▲ 119%
Other financial charges652/9€192k€106k-€4k€3k▼ 19.4%
Profit (loss) for the period before taxes9903€15k€114k€200k€-319k€-615k▼ 92.6%
Income taxes67/77€2k€20k€14k€2k€1k▼ 45.7%
Taxes670/3€2k€20k€14k€3k€1k▼ 46.9%
Tax adjustments and reversals of tax provisions77---€57--
Profit (loss) for the period9904€13k€94k€186k€-322k€-616k▼ 91.5%
Profit (loss) for the period to be appropriated9905€13k€94k€186k€-322k€-616k▼ 91.5%
Line20212022202320242025Change
Assets
Total assets20/58€9.92M€9.29M€8.46M€9.95M€10.69M▲ 7.4%
Fixed assets21/28€6.21M€5.74M€5.52M€6.45M€6.20M▼ 3.9%
Intangible fixed assets21€10k€8k€6k€4k€83k▲ 2,115%
Tangible fixed assets22/27€5.55M€5.09M€4.87M€5.40M€5.06M▼ 6.3%
Land and buildings22€3.13M€2.87M€2.77M€2.88M€2.61M▼ 9.4%
Plant, machinery and equipment23€621k€910k€856k€814k€798k▼ 2.0%
Furniture and vehicles24€1.71M€1.21M€1.17M€1.49M€1.02M▼ 31.6%
Leasing and similar rights25€96k€105k€80k€216k€606k▲ 180%
Assets under construction and advance payments27---€2k€31k▲ 1,746%
Financial fixed assets28€644k€644k€644k€1.05M€1.05M▲ 0.7%
Affiliated companies280/1€643k€643k€643k€1.05M€1.05M▲ 0.7%
Participating interests280€643k€643k€643k€643k€643k=
Amounts receivable281---€402k€410k▲ 1.8%
Other financial fixed assets284/8€1k€1k€1k€1k€1k=
Amounts receivable and cash guarantees285/8€1k€1k€1k€1k€1k=
Current assets29/58€3.72M€3.55M€2.94M€3.50M€4.49M▲ 28.4%
Stocks and contracts in progress3€1.23M€1.27M€484k€1.03M€1.36M▲ 32.4%
Stocks30/36€1.23M€1.27M€484k€1.03M€1.36M▲ 32.4%
Goods purchased for resale34€1.23M€1.27M€484k€1.03M€1.36M▲ 32.4%
Amounts receivable within one year40/41€2.45M€2.25M€2.38M€2.42M€3.08M▲ 27.5%
Trade receivables40€2.33M€2.13M€1.99M€2.41M€2.96M▲ 22.9%
Other amounts receivable41€116k€122k€382k€9k€123k▲ 1,298%
Cash at bank and in hand54/58€43k€23k€67k€48k€30k▼ 37.6%
Deferred charges and accrued income490/1€5k€14k€13k€7k€19k▲ 176%
Equity and liabilities
Total equity and liabilities10/49€9.92M€9.29M€8.46M€9.95M€10.69M▲ 7.4%
Equity10/15€2.50M€2.58M€2.75M€2.75M€2.10M▼ 23.8%
Contributions10/11€1.05M€1.05M€1.05M€1.05M€1.05M=
Capital10€1.05M€1.05M-€1.05M€1.05M=
Issued capital100€1.05M€1.05M-€1.05M€1.05M=
Reserves13€105k€105k€105k€105k€105k=
Non-distributable reserves130/1€105k€105k€105k€105k€105k=
Legal reserve130€105k€105k-€105k€105k=
Reserves not available under the articles1311--€105k---
Profit (loss) carried forward14€1.26M€1.35M€1.54M€1.22M€601k▼ 50.6%
Investment grants15€79k€66k€53k€376k€337k▼ 10.4%
Amounts payable17/49€7.43M€6.72M€5.71M€7.20M€8.59M▲ 19.4%
Amounts payable after more than one year17€4.13M€3.05M€2.40M€2.98M€2.74M▼ 8.0%
Financial debts170/4€4.13M€3.05M€2.40M€2.98M€2.74M▼ 8.0%
Leasing and similar obligations172€4.13M€84k€60k€170k€395k▲ 133%
Credit institutions173-€2.96M€50k€2.82M€2.35M▼ 16.5%
Other loans174--€2.29M---
Amounts payable within one year42/48€3.30M€3.62M€3.31M€4.21M€5.79M▲ 37.8%
Current portion of amounts payable after more than one year42€1.96M€1.13M€647k€575k€647k▲ 12.6%
Financial debts43-€725k€1.48M€1.70M€2.60M▲ 52.9%
Credit institutions430/8-€725k€1.48M€1.70M€2.60M▲ 52.9%
Trade debts44€1.26M€1.71M€1.11M€1.84M€2.46M▲ 33.8%
Suppliers440/4€1.26M€1.71M€1.11M€1.84M€2.46M▲ 33.8%
Taxes, remuneration and social security45€79k€54k€84k€89k€85k▼ 5.4%
Taxes450/3€61k€38k€72k€77k€71k▼ 7.5%
Remuneration and social security454/9€17k€15k€12k€12k€13k▲ 7.3%
Accrued charges and deferred income492/3-€48k€1k€8k€53k▲ 528%
Line20212022202320242025Change
Profit (loss) for the period9904€13k€94k€186k€-322k€-616k▼ 91.5%
+ Depreciation and write-downs630€887k€1.07M€924k€917k€1.05M▲ 14.6%
Operating cash flow (approximation)€900k€1.17M€1.11M€595k€434k▼ 27.0%
Investment in fixed assets (approximation)-€-609k€-708k€-1.84M€-797k▲ 56.8%
Change in cash-€-21k€44k€-19k€-18k▲ 2.6%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
07-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial Weakest financial yearnet €-616k
Net result drops to €-616k, the lowest in the series.
08-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
14-06
NBB filing Annual accounts filed
fiscal year 2023 · unclassified schema
2023
17-06
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
18-06
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
12-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
14-06
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial Equity above €2MEq €2.18M ▲17.3%
2 profitable years in a row build equity to €2.18M.
24-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
19-06
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
21-06
NBB filing Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
6 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, Courcelles · 1 establishment unit since 1991
seat establishment The establishment unit on the map
Ground area
1.4 ha
Building footprint
1,947 m²
Volume, LiDAR
11,687 m³
Parcel 52322A0144/00T004, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SELECT PRODUCT
Rue de Liège(CO) 5, 6180 CourcellesManufacture of food products
since 19912.052.311.647
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
52322A0144/00T004 Wallonia 1.4 ha 1 · 1,947 m² 8.8 m · 2 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Recognitions · licences · registrations

Food safety, FASFC

1 site
Courcelles2.052.311.647
4 permissions
Erkenning · Fabrikant vleesbereidingen · since 01-01-2006
Erkenning · Uitsnijderij runderen · since 01-01-2006
Erkenning · Uitsnijderij schapen en geiten · since 01-01-2006
and 1 more

Legal Entity Identifier

875500QPSXLYC0J7TQ32
live in the LEI register

Similar companies · same sector, comparable size

Of 756 companies in sector 46321 we hold annual accounts for 551. 354 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
Founded05-10-1990
Fiscal year end31-12
Activities, NACEBEL 2025
46321Wholesale of meat and meat products, excluding game and poultry
47221Retail sale of meat and meat products, excluding game and poultry
Contact
Phone 0475/237979Courcelles

Scores and ratios are computed by Checked and are not a credit decision.