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VALFRAIS

Active
Public limited companyfounded 1978active for 48 yearsEdingensesteenweg 196, 1500 Halle, BelgiumKBO/BCE: BE 0418.935.773
Summary

The computed 12-month bankruptcy probability of VALFRAIS is 3.6% (moderate). The 2025 annual accounts show equity of €2.7m and a net result of -€2.0m. Equity is shrinking by about 15% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 34% of 4,950 sector peers (NACE 47, financial year 2025). The company has been active since 1978 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Retail trade
NACE 47271Wholesale of other food products NACE 46389
3 sites
Size
€16.7mturnover 2025
Staff
26 FTE
Equity
€2.7m
Loss
-€2.0m
Financial health
47 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
3.6%
Structure
Parent
SOLUCIOUS · 100%
Accounts 38 days early7 of 20 deeds read
Why 47raises riskLoss of €2.0m, the second in a row (financial year 2025)Liquidity: current ratio 1.15, cash €285,073Equity €2.7m (22.4% of total assets)Sector: Retail trade (NACE 47)Show the evidence

Checked score

Score 2025
47 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 17% of its sector peers (NACE 47, small)
Financial strength · tick = 2023
Weak
Solvency 47+47
equity 22.4% of total assets
Liquidity 11+9
short-term debt 77.4% · cash 2.4%
Profitability 0=
return on assets -17.0%
Bankruptcy probability, 12 months
3.6% Moderate
0%0.5%1.5%4%10%≥ 25%

About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (3,689 companies, NACE 47, small)
Last 24 months 11-2024: 10.4% 12-2024: 10.4%● unchanged vs 11-2024 01-2025: 10.4%● unchanged vs 12-2024 02-2025: 10.5%▲ +0.1 percentage points vs 01-2025 03-2025: 10.4%▼ -0.1 percentage points vs 02-2025 04-2025: 10.7%▲ +0.3 percentage points vs 03-2025 05-2025: 10.5%▼ -0.2 percentage points vs 04-2025 06-2025: 10.7%▲ +0.2 percentage points vs 05-2025 07-2025: 10.7%● unchanged vs 06-2025highest value 08-2025: 9.7%▼ -1.0 percentage point vs 07-2025 09-2025: 9.7%● unchanged vs 08-2025 10-2025: 4.9%▼ -4.8 percentage points vs 09-2025 11-2025: 4.9%● unchanged vs 10-2025 12-2025: 4.9%● unchanged vs 11-2025 01-2026: 4.9%● unchanged vs 12-2025 02-2026: 4.9%● unchanged vs 01-2026 03-2026: 4.9%● unchanged vs 02-2026 04-2026: 4.9%● unchanged vs 03-2026 05-2026: 3.2%▼ -1.7 percentage points vs 04-2026 06-2026: 3.2%● unchanged vs 05-2026 07-2026: 3.2%● unchanged vs 06-2026 08-2026: 3.2%● unchanged vs 07-2026 09-2026: 3.1%▼ -0.1 percentage points vs 08-2026lowest value 10-2026: 3.6%▲ +0.5 percentage points vs 09-2026
Credit of up to €120,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.15, compared with 0.6 in 2023; short-term debt: 77.4% and cash: 2.4% of total assets), and 77.6% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 47, small): better than 39% on solvency, 9% on liquidity and 2% on profitability.

The bankruptcy probability was computed on 08-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
+raises risk○neutral
raises risk · Loss of €2.0m, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · Liquidity: current ratio 1.15, cash €285,073
NBB · annual accounts
raises risk · Equity €2.7m (22.4% of total assets)
NBB · annual accounts
raises risk · Sector: Retail trade (NACE 47)
KBO
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 23-09-2025, 38 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
38 days early
2023
62 days late
2022
76 days early
2021
134 days late
2020
95 days late
2019
90 days late
2018
13 days 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 36 days after the deadline; the sector median (NACE 47) for financial year 2023 is on the deadline day, and 48% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Capital & shares · Resignations &…Resignation: Stefaan Vandamme (director) ·…
  2. Capital & shares · Resignations &…Resignation: Stefaan Vandamme (director) ·…
  3. Capital & shares · RestructuringDemerger · Shareholding · Amendment…

Key points

  • Caution: Among the weakest 5% on net resultsector median €40,704 · 4,950 companies -€2.0m View
  • Caution: Board changedlatest change 01-08-2026 · 1 in office 1 joined · 1 left View
  • Controlled by SOLUCIOUSultimately: KORYS 100% View
  • Branch transferred to SOLUCIOUScontribution on 29-05-2026 2026 View
  • Caution: 2 loss-making years in a rowloss financial year 2025 -€2.0m View
  • Active since 1978founded 01-10-1978 48 years View

By topic

Financials

Financial year
2025
Turnover
€16.7m
Loss
-€2.0m
Solvency
22.4%
Turnover▼ 2.0%
Net result
20182025
Go to Financials

Timeline

Events
56
Since
1980
  1. 23-04-2026Restructuring
  2. 23-10-2025Resignations & appointments
  3. 23-09-2025Annual accounts filed
Go to Timeline

Company details

Sites
3
Legal form
Public limited company
Activity
Retail tradeNACE 47271
Founded
01-10-1978
Year ends
31-03
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
6
Purpose
L'exercice de toutes activités se rapportant directement ou indirectement au commerce de…
Go to Articles of association

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