TERRE DE FROMAGES
ActiveTERRE DE FROMAGES has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.20M and a net result of €37k. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 37% of 642 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▼-1
Solvency54=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity tight (current ratio 1.26 against 1.34 in 2024; short-term debt: 71.1% and cash: 7.9% of total assets), and 71.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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
28.9%
Return on assets
0.9%
Age of the figures
9 mo
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
16 d early
2023
14 d early
2022
11 d early
2021
25 d early
2020
23 d early
2019
42 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€18.18M
EBIT margin
1.1%
Net result
€37k▼ 58.0%
2024 · €88k
2018: €66k
2019: €22k
2020: €6k
2021: €26k
2022: €-76k
2023: €141k
2024: €88k
2018 → 2025
Working capital
€758k▼ 22.9%
2024 · €984k
2018: €781k
2019: €838k
2020: €849k
2021: €770k
2022: €729k
2023: €878k
2024: €984k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.01M-€932k▼ 7.5%€1.07M▲ 15.1%€1.16M▲ 8.2%€1.20M▲ 3.2%
Operating result€65k-€-19k€234k€174k▼ 25.6%€87k▼ 50.1%
Net result€26k-€-76k€141k€88k▼ 37.6%€37k▼ 58.0%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 50% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.14M
Fixed assets
€439k▲ 148%
Current assets
€3.70M▼ 5.0%
Equity and liabilities €4.14M
Equity
€1.20M▲ 3.2%
Debt
€2.94M▲ 1.0%
The debt ratio falls from 71.5% to 71.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€147k▼
2024 · €241k
Cash flow
€96k▼
2024 · €155k
Solvency
28.9%▲
2024 · 28.5%
Current ratio
1.26▼
2024 · 1.34
Quick ratio
1.24▼
2024 · 1.32
Debt / equity
2.46▼
2024 · 2.51
ROE
3.1%▼
2024 · 7.6%
ROA
0.9%▼
2024 · 2.2%
Interest coverage
7.85▲
2024 · 7.04
Debt
€2.94M▲
2024 · €2.91M
Debt ≤ 1 year
€2.94M▲
2024 · €2.91M
Income taxes
€32k▼
2024 · €52k
Staff costs
€1.88M▲
2024 · €1.71M
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€4.07M€4.14M▲
Fixed assets21/28€177k€439k▲
Intangible fixed assets21€15k€7k▼
Tangible fixed assets22/27€122k€91k▼
Plant, machinery and equipment23€60k€40k▼
Furniture and vehicles24€60k€52k▼
Assets under construction and advance payments27€1k€0▼
Financial fixed assets28€41k€341k▲
Current assets29/58€3.89M€3.70M▼
Stocks and contracts in progress3€49k€39k▼
Stocks30/36€49k€39k▼
Amounts receivable within one year40/41€3.47M€3.33M▼
Trade receivables40€3.46M€3.33M▼
Other amounts receivable41€17k€3k▼
Cash at bank and in hand54/58€363k€326k▼
Deferred charges and accrued income490/1€9k€0▼
Equity and liabilities
Total equity and liabilities10/49€4.07M€4.14M▲
Equity10/15€1.16M€1.20M▲
Contributions10/11€255k€255k=
Capital10€255k€255k=
Issued capital100€255k€255k=
Reserves13€26k€26k=
Non-distributable reserves130/1€26k€26k=
Legal reserve130€26k€26k=
Profit (loss) carried forward14€880k€917k▲
Amounts payable17/49€2.91M€2.94M▲
Amounts payable within one year42/48€2.91M€2.94M▲
Trade debts44€2.12M€1.65M▼
Suppliers440/4€2.12M€1.65M▼
Taxes, remuneration and social security45€334k€316k▼
Taxes450/3€49k€17k▼
Remuneration and social security454/9€285k€299k▲
Other amounts payable47/48€457k€974k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Remuneration, social security and pensions62€1.71M€1.88M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67k€60k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€28k€14k▼
Non-recurring operating charges66A€0€12k▲
Gross operating margin9900€1.97M€2.05M▲
Operating profit (loss)9901€174k€87k▼
Financial income75/76B€38€752▲
Recurring financial income75€38€752▲
Financial charges65/66B€34k€19k▼
Recurring financial charges65€34k€19k▼
Profit (loss) for the period before taxes9903€140k€69k▼
Income taxes67/77€52k€32k▼
Profit (loss) for the period9904€88k€37k▼
Profit (loss) for the period to be appropriated9905€88k€37k▼
Appropriation of the result
Profit (loss) to be appropriated9906€880k€917k▲
Profit (loss) brought forward from the previous period14P€792k€880k▲
Social balance
Average headcount (FTE)908723.824.2▲
The notes to these accounts (21 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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €141k
Net result €141k after one loss-making year.
31-12
Financial
Equity above €1MEq €1.07M ▲15.1%
Equity rises from €932k to €1.07M.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-76k ▼396%
Net result drops to €-76k, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €1MEq €1.01M ▲2.6%
4 profitable years in a row build equity to €1.01M.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 42 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 5 days late
2018
06-07
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.
Directors · office · real estate
Directors
10 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, Herve · 2 establishment units since 1979
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.
Rue de Charneux 324650 HerveGround area
1,985 m²
Building footprint
342 m²
Volume, LiDAR
2,461 m³
2 parcels, Wallonia · tallest building 9.3 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Rue de Charneux 32, 4650 Herve
since 19792.016.809.152
Herve Société
since 20212.321.955.415
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63006D0643/00E000 | Wallonia | 1,858 m² | 1 · 217 m² | 8.2 m · 2 fl. |
| 63035A0074/00F004 | Wallonia | 127 m² | 1 · 125 m² | 9.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
2 sitesHerve2.321.955.415
Herve2.016.809.152
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Of 273 companies in sector 10510 we hold annual accounts for 121. 65 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-09-1979
Fiscal year end31-12
Activities, NACEBEL
10510Manufacture of food products
46331Wholesale trade
51331
Sources
Crossroads Bank for EnterprisesNational Bank · 46 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.