SURPLUS
ActiveFrom the official registers: KBO 33 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
SURPLUS has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €276,288 and a net result of €16,819. Equity has been stable since 2018 (±2.4% per year). Its solvency ranks better than 92% of 1,203 sector peers (NACE 18, financial year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Official details
KBO- Status
- Active since 30-12-1991 Normal situation
- Legal form
- Public limited company
- Registered office
- De Vunt 10, 3220 Holsbeek
- Activity
- Other printing NACE 18120and 2 others
- Establishment unit
- 2.055.860.857 3220 Holsbeek, since 26-01-1994
- Financial year end
- 31 December
- Peppol
- Reachable since 16-02-2026
Board and ownership
- BenSDirector · since 25-08-2022 · permanent representative Luc Vulsteke
- K.DM. MANAGEMENTDirector · since 25-08-2022 · permanent representative De Meulenaere Krist
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.8%
- Gross margin
- €40,349
- ▼ 30.8%
- Turnover
- ≈ €160,000
- estimated
- Profit
- €16,819
- ▲ 16×
- Equity
- €276,288
- ▲ 6.5%
- Total assets
- €308,112
- ▼ 10.2%
Score breakdownraises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed on 27-08-2025)Size: total assets €308,112lowers riskFounded in 1991Equity €276,288 (89.7% of total assets)Show the evidence
Checked score
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 18, micro). It does better than 88% of them on solvency, 53% on liquidity, 57% on profitability and 58% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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Signals
The company filed its last 6 accounts on average 112 days after the deadline. In the sector (NACE 18), the median for financial year 2024 was 5 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (1)
Financials · financial year 2024, micro format
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 1 November 2026.
Annual accounts 2024
- Financial year ended
- 31-12-2024
- Filed on
- 25-08-2025
- Format
- micro format
- Reference
- 2025-00413205
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result for 2024 is 86% higher than in 2023 and the highest since 2020. It is the second rise in a row, after the fall in 2022.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Printing and reproduction of recorded media (NACE 18). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Companies with the same profile, two years later
Historical observationIn July 2024, 31,368 companies had the same profile as SURPLUS has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SURPLUS itself is higher: 0.8% within 12 months. It rests on far more data about SURPLUS than the profile alone.
Test of the method
The method was tested on the 497,445 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 31,368 companies, not a prediction for SURPLUS. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,299 | €20,568 | €18,707 | €7,670 | €9,773 | €6,148 | €6,148 | = |
| Other operating charges640/8 | - | - | - | €8,453 | €5,098 | €3,458 | €8,999 | ▲ 160% |
| Non-recurring operating charges66A | - | - | - | - | - | €35,151 | - | - |
| Gross operating margin9900 | €47,620 | €29,823 | €42,010 | €38,306 | €3,140 | €58,343 | €40,349 | ▼ 30.8% |
| Operating profit (loss)9901 | €6,863 | €6,991 | €18,819 | €22,183 | -€11,731 | €13,585 | €25,201 | ▲ 85.5% |
| Financial income75/76B | - | - | - | €0 | €383 | - | - | - |
| Recurring financial income75 | - | - | €4 | €0 | €383 | - | - | - |
| Financial charges65/66B | - | - | - | €60 | €1,055 | €6,525 | €1,068 | ▼ 83.6% |
| Recurring financial charges65 | €983 | €657 | €122 | €60 | €1,055 | €6,525 | €1,068 | ▼ 83.6% |
| Profit (loss) for the period before taxes9903 | €5,880 | €6,334 | €18,701 | €22,122 | -€12,403 | €7,061 | €24,134 | ▲ 242% |
| Income taxes67/77 | €297 | €269 | €5,393 | €5,416 | €160 | €6,000 | €7,315 | ▲ 21.9% |
| Profit (loss) for the period9904 | €5,583 | €6,065 | €13,308 | €16,706 | -€12,564 | €1,061 | €16,819 | ▲ 16× |
| Profit (loss) for the period to be appropriated9905 | €5,583 | €6,065 | €13,308 | €16,706 | -€12,564 | €1,061 | €16,819 | ▲ 16× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €262,799 | €259,306 | €263,775 | €288,000 | €428,719 | €342,985 | €308,112 | ▼ 10.2% |
| Fixed assets21/28 | €238,442 | €239,321 | €237,729 | €231,713 | €380,553 | €227,167 | €221,019 | ▼ 2.7% |
| Tangible fixed assets22/27 | €238,442 | €239,321 | €237,729 | €231,713 | €380,553 | €227,167 | €221,019 | ▼ 2.7% |
| Land and buildings22 | - | - | - | €195,420 | €194,773 | €201,581 | €200,661 | ▼ 0.5% |
| Furniture and vehicles24 | - | - | - | - | €154,965 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €36,293 | €30,815 | €25,587 | €20,359 | ▼ 20.4% |
| Current assets29/58 | €24,357 | €19,986 | €26,047 | €56,287 | €48,166 | €115,818 | €87,093 | ▼ 24.8% |
| Stocks and contracts in progress3 | €172 | €172 | €172 | €0 | - | - | - | - |
| Stocks30/36 | - | - | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €13,240 | €11,208 | €7,048 | €15,357 | €40,659 | €95,926 | €66,423 | ▼ 30.8% |
| Trade receivables40 | - | - | - | €2,118 | - | €825 | €2,972 | ▲ 260% |
| Other amounts receivable41 | - | - | - | €13,240 | €40,659 | €95,101 | €63,451 | ▼ 33.3% |
| Current investments50/53 | €239 | €239 | €239 | €239 | €239 | €239 | €239 | = |
| Cash at bank and in hand54/58 | €10,556 | €8,217 | €18,438 | €39,024 | €6,933 | €19,654 | €20,432 | ▲ 4.0% |
| Deferred charges and accrued income490/1 | - | - | - | €1,667 | €335 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €262,799 | €259,306 | €263,775 | €288,000 | €428,719 | €342,985 | €308,112 | ▼ 10.2% |
| Equity10/15 | €234,893 | €240,958 | €254,266 | €270,972 | €258,409 | €259,469 | €276,288 | ▲ 6.5% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | - | - | - | €133,851 | €133,851 | €133,851 | €133,851 | = |
| Reserves13 | €39,042 | €45,107 | €58,415 | €75,121 | €62,557 | €63,618 | €80,437 | ▲ 26.4% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | €68,921 | €56,357 | €57,418 | €74,237 | ▲ 29.3% |
| Amounts payable17/49 | €27,906 | €18,348 | €9,510 | €17,028 | €170,311 | €83,516 | €31,825 | ▼ 61.9% |
| Amounts payable after more than one year17 | €1,277 | - | - | - | €39,531 | €25,156 | - | - |
| Financial debts170/4 | - | - | - | - | €39,531 | €25,156 | - | - |
| Amounts payable within one year42/48 | €26,629 | €18,348 | €9,510 | €17,028 | €129,579 | €57,159 | €31,825 | ▼ 44.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €14,375 | €14,375 | - | - |
| Trade debts44 | €7,582 | €5,882 | €1,431 | €5,799 | €109,103 | €3,866 | €6,601 | ▲ 70.7% |
| Suppliers440/4 | - | - | - | €5,799 | €109,103 | €3,866 | €6,601 | ▲ 70.7% |
| Taxes, remuneration and social security45 | - | - | - | €11,229 | €5,576 | €9,393 | €13,698 | ▲ 45.8% |
| Taxes450/3 | - | - | - | €11,229 | €5,576 | €9,393 | €13,698 | ▲ 45.8% |
| Other amounts payable47/48 | - | - | - | - | €525 | €29,525 | €11,525 | ▼ 61.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,201 | €1,201 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,583 | €6,065 | €13,308 | €16,706 | -€12,564 | €1,061 | €16,819 | ▲ 16× |
| + Depreciation and write-downs630 | €28,299 | €20,568 | €18,707 | €7,670 | €9,773 | €6,148 | €6,148 | = |
| Operating cash flow (approximation) | €33,882 | €26,633 | €32,015 | €24,377 | -€2,790 | €7,209 | €22,967 | ▲ 219% |
| Investment in fixed assets (approximation) | - | -€21,446 | -€17,115 | -€1,655 | -€158,613 | €147,238 | €0 | ▼ 100% |
| Change in cash | - | -€2,340 | €10,221 | €20,586 | -€32,091 | €12,720 | €778 | ▼ 93.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 25-08-2025 | 2025-00413205 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00399068 | |
| 31-12-2022 | micro format | 26-09-2023 | 2023-00461573 | |
| 31-12-2021 | micro format | 29-11-2022 | 2022-20530188 | |
| 31-12-2020 | micro format | 28-09-2021 | 2021-69400075 | |
| 31-12-2019 | micro format | 17-08-2021 | 2021-51800381 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59000425 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-55700484 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-58400386 | |
| 31-12-2015 | abbreviated format | 25-08-2016 | 2016-51900085 |
Comparable companies
These companies have the same main activity as SURPLUS: other printing (NACE 18120). They are comparable in size and age: total assets between €217,000 and €312,000, founded between 1987 and 1996.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| SURPLUS Holsbeek | 1991 | €308,112 | €276,288 | €40,349 | €16,819 | 2024 |
| VIER D Schilde | 1990 | €289,895 | €64,594 | €31,495 | €575 | 2025 |
| Drukkerij D.V.F. Haacht | 1996 | €249,510 | €170,328 | €56,169 | €21,680 | 2025 |
| ASCOTPRINT Aarschot | 1988 | €216,630 | €205,693 | €33,205 | €20,290 | 2025 |
| MARIEN-DENEYER Beersel | 1987 | €217,443 | €212,504 | €30,735 | €19,222 | 2025 |
| LETTRE AGE Verviers | 1989 | €250,407 | €166,537 | €47,076 | €18,711 | 2025 |
| IMPRIMERIE P. BRANKART Crisnée | 1988 | €311,771 | €191,785 | €30,323 | €1,930 | 2025 |
They were chosen from the 821 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 2
Permanent representatives 2
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BenS |
|
| K.DM. MANAGEMENT |
|
| Jacobs Marina |
|
| Vermeiren Liezelotte |
|
| Vermeiren Marc |
|
The directors' other companies
1 other company of this director went bankrupt (2024) and 1 was struck off by the FPS Economy (2024).
- Quicksteel bankruptcy on 20-06-2024Official Gazetteappointed in 2022, still in office
- DKU BEHEER struck off on 16-05-2024Official Gazetteappointed in 2025, still in office
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it.
Owners and capital
Owners
Group and network
Connections & network
9 connected companiesShow 5 more companies with a shared director
History
Acts, filings and financial milestones
07-12
Gazette deed
Resignations: Vermeiren Marc, Jacobs Marina and Vermeiren LiezelotteAppointments: Bens BV (director) and K.DM. Management NV (director) · Permanent representatives: Luc Vulsteke and De Meulenaere Krist · Director discharge11 points ▸
- General meeting, 25-08-2022
- Director resignation, Vermeiren Marc (director)
- Director resignation, Jacobs Marina (director)
- Director resignation, Vermeiren Liezelotte (director)
- Director discharge, Vermeiren Marc (director)
- Director discharge, Jacobs Marina (director)
- Director discharge, Vermeiren Liezelotte (director)
- Director appointment, Bens BV (director)
- Director appointment, K.DM. Management NV (director)
- Permanent representative, Luc Vulsteke
- Permanent representative, De Meulenaere Krist
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24043A0015/00H000 | Flanders | 2,692 m² | 1 · 822 m² | 10.1 m · 1 |