Equity
Debts exceed assets in financial year 2024.
Debts exceed assets in financial year 2024.
Every financial year from 2021 to 2024 closed with a loss. 2023 was the heaviest.
2025 accounts not filed: deadline was 31-07-2026.
Less equity than 95% of companies in wholesale trade. Sector median €56,471 · 15,463 companies.
The dashed line is the sector median: 0.4% across 26,888 companies (NACE 46, micro).
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 6% of them on solvency, 1% on liquidity, 6% on profitability and 12% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,008 companies had the same profile as STASHED has now. Each dot stands for 16 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of STASHED itself: 6.5% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,008 companies, not a prediction for STASHED. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.43 (0.51 in 2023), below 1. Short-term debt is 231.8% and cash 0% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 207 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| STASHED Ghent | €86,767 | -€30,982 | -131.8% | - |
| Pure Kitchen Wommelgem | €80,527 | -€2,510 | -36.7% | 0 |
| POT-DE-VIN Rixensart | €90,870 | -€9,678 | -84.7% | - |
| ORGAVEG Poperinge | €109,198 | -€24,023 | -57.3% | - |
| FUNCTIONAL FEED ADDITIVES Ravels | €69,025 | -€50,813 | 43.9% | - |
| INlabs Wommelgem | €128,714 | -€62,524 | -91.9% | - |
| AWF Veurne | €82,120 | -€510 | -33.0% | - |
These companies have the same main activity as STASHED: agents in the wholesale of food, beverages and tobacco (NACE 46170). They are comparable in size and age: total assets between €69,000 and €129,000, founded between 2018 and 2021.
STASHED files the micro format. That format states no turnover. The gross margin fell from -€17,998 in 2021 to -€30,982 in 2024.
In October 2023, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 9 November 2026.
Higher than 8% of 15,428 companies in 2024.
Higher than 11% of 14,730 companies in 2024.
Higher than 7% of 14,947 companies in 2024.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
86,767 | 85,080 | 71,324 | 52,955 | |
29/58 |
86,767 | 85,080 | 71,324 | 52,955 | |
3 |
29,866 | 33,027 | 35,065 | 47,788 | |
30/36 |
29,866 | 33,027 | 35,065 | 47,788 | |
40/41 |
56,901 | 51,571 | 24,079 | 1,014 | |
40 |
49,904 | 49,305 | 23,709 | 121 | |
41 |
6,997 | 2,266 | 370 | 893 | |
54/58 |
0 | 482 | 12,180 | 4,153 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
86,767 | 85,080 | 71,324 | 52,955 | |
10/15 |
-114,396 | -82,426 | -19,359 | 21,112 | |
10/11 |
40,000 | 40,000 | 40,000 | 40,000 | |
14 |
-154,396 | -122,426 | -59,359 | -18,888 | |
17/49 |
201,163 | 167,506 | 90,683 | 31,843 | |
42/48 |
201,163 | 167,069 | 90,683 | 31,843 | |
43 |
493 | - | - | - | |
430/8 |
493 | - | - | - | |
44 |
41,397 | 54,136 | 23,023 | 1,843 | |
440/4 |
41,397 | 54,136 | 23,023 | 1,843 | |
45 |
672 | 433 | 160 | - | |
450/3 |
672 | 433 | 160 | - | |
47/48 |
158,600 | 112,500 | 67,500 | 30,000 | |
492/3 |
0 | 437 | - | - | |
| Income statement | |||||
70 |
- | - | - | 6,100 | |
9900 |
-30,982 | -61,593 | -39,476 | -17,998 | |
60/61 |
- | - | - | 24,098 | |
640/8 |
753 | 881 | 933 | 728 | |
9901 |
-31,735 | -62,474 | -40,409 | -18,725 | |
75/76B |
4 | - | 0 | 21 | |
75 |
4 | - | 0 | 21 | |
65/66B |
239 | 593 | 63 | 183 | |
65 |
239 | 593 | 63 | 183 | |
9903 |
-31,970 | -63,066 | -40,472 | -18,888 | |
9904 |
-31,970 | -63,066 | -40,472 | -18,888 | |
9905 |
-31,970 | -63,066 | -40,472 | -18,888 | |
| Appropriation of the result | |||||
9906 |
-154,396 | -122,426 | -59,359 | -18,888 | |
14P |
-122,426 | -59,359 | -18,888 | - | |
| Document | |||||
The notes to these accounts have 1 item. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 22-07-2025.
| Line | Trend | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| -482 | -11,698 | 8,027 | - | ||
| -114,396 | -81,989 | -19,359 | 21,112 | ||
| -131.8% | -96.9% | -27.1% | 39.9% | ||
| 0.43 | 0.51 | 0.79 | 1.66 | ||
| 0.28 | 0.31 | 0.40 | 0.16 | ||
| - | - | - | 1.51 | ||
| - | - | - | -89.5% | ||
| -36.8% | -74.1% | -56.7% | -35.7% | ||
| - | - | - | 7 days | ||
| - | - | - | 28 days |
EBIT margin. Not meaningful: turnover is only a small part of operating income.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2024 is a loss of €31,735, smaller than the loss of €62,474 in 2023.
Equity is negative. Debt (€201,163) exceeds the balance-sheet total (€86,767).
STASHED has no parent and no holdings in its annual accounts. De Rijcke Stephen is the only director.
| L2 IMMO
establishment since 17-03-1992 · founded in 1991 |
total assets €6.4m (2025) 0446.296.010 |
| REFLEXION
registered office since 16-07-1991 · founded in 1991 |
6 FTE (2025) 0444.441.726 |
| ARTAMON
registered office since 24-12-2015 · founded in 2015 · negative equity (2025) |
total assets €313,382 (2025) 0644.861.542 |
| LDR
registered office since 18-11-2016 · founded in 2016 · negative equity (2026) |
total assets €296,230 (2026) 0666.491.849 |
| ONO Drinks via Hernest, at STASHED until 2023 · Director · deed of 11-12-2020 founded in 2020 · negative equity (2025) |
total assets €52,103 (2025) |
| Hernest via Ellegiers Mathias, at STASHED until 2023 · Permanent representative · deed of 11-12-2020 |
founded in 2020 |
The network starts from the earlier ties.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Oudenaardsesteenweg 35 registered office 9000 Ghent | 30-11-2020 | 2.310.677.580 | Food wholesaler - food>3 months |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44808H0660/00Y000 | 1,364 m² | 1 · 708 m² | 14.8 m · 4 |
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