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SHAPES MACHINING

Active
Private limited company (pre-2019)founded 199333 yrs activeNoordlaan 35, 8520 Kuurne, BelgiumKBO/BCE: BE 0451.019.217
Summary

SHAPES MACHINING has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of -€385,889. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 78% of 73 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysisWatch ReportCompare
SHAPES MACHININGActiveChecked score 69/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of basic metals
NACE 24100Machining of metals NACE 25530Manufacture of fabricated metal products, except machinery and equipment NACE 25620
1 site
Size
€3.1mtotal assets 2025
Staff
17.2 FTE
Equity
€2.2m
Loss
-€385,889
Turnover not published (abridged schema)
Financial health
69 Healthy Checked score 2025
Bankruptcy chance 12 m
0.8%
Structure
Parent
SHAPES IMMO · 100%
Board
1 member
Accounts 4 d early1 of 6 deeds read
Why 69- Loss of €385,889, the second in a row (FY 2025)- Sector Manufacture of basic metals (NACE 24)+ Equity €2.2m (70.3% of total assets)+ Figures for FY 2025 (filed 27-07-2026)Show the evidence

Checked score

Score 2025
69 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 65% of its sector peers (NACE 24, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 95+76
equity 70.3% of total assets
Liquidity 51-3
short-term debt 17.3% · cash 4.5%
Profitability 6-10
return on assets -12.6%
Bankruptcy probability, 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (74 companies)
Last 24 months 11-2024: 1.4% 12-2024: 1.4%● 0.0% vs 11-2024 01-2025: 1.4%● 0.0% vs 12-2024 02-2025: 1.5%▲ +1.7% vs 01-2025 03-2025: 1.7%▲ +16.5% vs 02-2025 04-2025: 1.8%▲ +2.9% vs 03-2025 05-2025: 1.8%▲ +1.1% vs 04-2025 06-2025: 1.8%▲ +1.3% vs 05-2025 07-2025: 2.1%▲ +16.8% vs 06-2025 08-2025: 4.6%▲ +120% vs 07-2025 09-2025: 4.6%● 0.0% vs 08-2025 10-2025: 4.6%● 0.0% vs 09-2025 11-2025: 4.6%● 0.0% vs 10-2025 12-2025: 4.6%● 0.0% vs 11-2025 01-2026: 4.7%▲ +1.8% vs 12-2025 02-2026: 4.8%▲ +1.3% vs 01-2026 03-2026: 5.4%▲ +13.7% vs 02-2026 04-2026: 5.5%▲ +1.3% vs 03-2026 05-2026: 5.5%▲ +0.8% vs 04-2026 06-2026: 5.7%▲ +2.3% vs 05-2026 07-2026: 5.8%▲ +1.5% vs 06-2026highest value 08-2026: 0.9%▼ -84.6% vs 07-2026 09-2026: 0.9%● 0.0% vs 08-2026 10-2026: 0.8%▼ -10.9% vs 09-2026lowest value
  • Loss of €385,889, the second in a row (FY 2025) raises the probability
  • Equity €2.2m (70.3% of total assets) lowers the probability
  • Sector Manufacture of basic metals (NACE 24) raises the probability
  • Figures for FY 2025 (filed 27-07-2026) lowers the probability
Credit up to €140,000 at 30 days acceptable
Liquidity short (current ratio 0.76 against 1.05 in 2024; short-term debt: 17.3% and cash: 4.5% of total assets), and 29.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 24, small). Better than this share of them on solvency 80%, liquidity 69%, profitability 10%, growth against the median 99%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €385,889, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Equity €2.2m (70.3% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Sector Manufacture of basic metals (NACE 24)
In the bankruptcy model this factor raises the probability.
KBO
lowers risk · Figures for FY 2025 (filed 27-07-2026)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
4 d early
2024
7 d early
2023
6 d early
2022
4 d early
2021
3 d early
2020
5 d late
2019
51 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 10 days before the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 29% 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. Usually files around 27 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 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
  1. Appointment: SHAPES METALWORKS (director)Permanent representative: Dirk Haerinck ·…
  2. Annual accounts filedfiscal year 2025 · abbreviated…
  3. Weakest financial yearnet -€385,889

Key points

  • Risk: 3 loss-making years in a rowloss fiscal year 2025 -€385,889 View
  • Caution: Among the weakest 5% on net resultsector median €27,172 · 72 companies -€385,889 View
  • Caution: Board changedlatest change 16-07-2026 · 1 in office 1 joined · 1 left View
  • Controlled by SHAPES IMMOultimately: DACAR 100% View
  • Positive: Always filed on timeaccounts within the deadline every year 5 years View
  • Flemish supportawarded 2022 - 2025 €63,150 View

By topic

Financials

Fiscal year
2025
Total assets
€3.1m
Loss
-€385,889
Solvency
70.3%
Total assets▼ 11.3%
Net result
20182025
Go to Financials

Timeline

Events
17
Since
2017
Next accounts
by 31-07-2027
  1. 26-08-2026Appointment: SHAPES METALWORKS (director)
  2. 27-07-2026Annual accounts filed
  3. 31-12-2025Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Private limited company (pre-2019)
Activity
Manufacture of basic metalsNACE 24100
Founded
28-09-1993
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies

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