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Complete company report
Generated 26-07-2026
Active BE 0424.211.583Public limited company

Verstaen

Meulebeeksesteenweg 22 ·8700 Tielt, Belgium· 43 yrs active
Sector: Joinery (43320)
Conclusion Checked

The file of Verstaen contains 1 judicial reorganisation, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 10.1% (high). The 2020 annual accounts show equity of €537k and a net result of €26k. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 23% of 240 sector peers (fiscal year 2020).

Based on the State Gazette, CBE and 3 annual accounts.
Key figures
Equity €537k
Net result €26k
Staff (FTE) 31.7
Better than sector 23%
Snowflake analysis 5 axes · computed by Checked
Health61Profitability18Solvency39Growth85Stability60
53 / 100

Mixed profile: strong on growth, weaker on profitability.

Health 61
Profitability 18
Solvency 39
Growth 85
Stability 60
Bankruptcy probability (12 mo) Checked model v1 · free
10.1% High
0%0,5%1,5%4%10%≥25%
Judicial reorganisation on record +Annual accounts: weaker financial profile +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
10 / 100
Moderate risk
Components
· 1 judicial reorganisation (+10)
Trust signals 1 signals
In judicial reorganisation
Ongoing procedure under court protection (Book XX WER). The company is restructuring.
Administrative Flags 0 events
No administrative flags
Health barometer FY 2020 · computed
61 / 100 Healthy
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview10 NBB filings
Annual accounts filed on 19-05-2021 with the NBB · fiscal year 2020 · volledig
€0€5.00M€10.00M€15.00M€20.00MRevenue 2018: €12.34M€12.34MOperating result 2018: €102k€102kNet result 2018: €14k€14kRevenue 2019: €18.63M€18.63MOperating result 2019: €119k€119kNet result 2019: €19k€19kRevenue 2020: €19.25M€19.25MOperating result 2020: €165k€165kNet result 2020: €26k€26k201820192020
RevenueOperating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~4.4%/year over 3 fiscal years, indicative, assuming unchanged policy.
€450k€500k€550k€600k€650k2021: €559k (€516k - €602k)2022: €582k (€539k - €625k)2023: €604k (€561k - €647k)2018: €492k2019: €511k2020: €537k201820192020202120222023
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2020 · NACE 43, Specialised construction · compared within the same schema type (full schema)
Metric This company Sector median Position in the sector
Solvency 16.1% 33.1%
better than 23% of 240 sector peers
Net result €26k €18k
better than 61% of 240 sector peers
Equity €537k €137k
better than 80% of 240 sector peers
Employees (FTE) 31.7 7.2
better than 88% of 135 sector peers
Total assets €3.34M €542k
better than 88% of 240 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Revenue
€19.25M
+3.3% 18-20
EBITDA
€185k
+32.5% far above sector median
Net profit
€26k
+40.1% +50% vs sector
Cash flow
€46k
+16.2% far above sector median
Total assets
€3.34M
+17.1% far above sector median
Equity
€537k
+5.1% far above sector median
Working capital
€517k
+3.5% far above sector median
Employees (FTE)
32
+12.0% +164% vs sector
Income taxes
€24k
+15.5% +96% vs sector
Debt
€2.80M
+19.7% far above sector median
Debt ≤ 1y
€2.67M
+20.1% far above sector median
Current ratio
1.19
-2.5% -77% vs sector
Quick ratio
1.19
-2.5% -77% vs sector
Solvency
16.1%
-10.3% -72% vs sector
ROE
4.9%
+33.3% -74% vs sector
ROA
0.8%
+19.6% -91% vs sector
Net margin
0.1%
+35.6% 18-20
EBITDA margin
1.0%
+28.2% 18-20
Interest coverage
7.99
-0.8% -53% vs sector
Figures by fiscal year
Fiscal year2020
Revenue€19.25M
EBITDA€185k
Net profit€26k
Cash flow€46k
Staff costs-
Income taxes€24k
Dividends-
Total assets€3.34M
Equity€537k
Debt€2.80M
of which ≤ 1y€2.67M
of which > 1y-
Working capital€517k
Employees (FTE)31.7
Ratios (computed)
2020
Current ratio1.19
Quick ratio1.19
Working capital ratio15.5%
Solvency16.1%
Debt / equity-
Long-term debt ratio-
Interest coverage7.99
Gross margin-
Net margin0.1%
ROA0.8%
ROE4.9%
EBITDA margin1.0%
Days sales outstanding50d
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2020
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2020
Balance sheet, Assets
TOTAL ASSETS 20/58€3.34M
Fixed assets 21/28€154k
Tangible fixed assets 22/27€50k
Financial fixed assets 28€104k
Current assets 29/58€3.19M
Stocks & contracts in progress 3€5k
Amounts receivable within one year 40/41€2.65M
Cash & bank 54/58€537k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€3.34M
Equity 10/15€537k
Contributions / capital 10/11€62k
Reserves 13€475k
Amounts payable 17/49€2.80M
Amounts payable within one year 42/48€2.67M
Trade debts payable within one year 44€2.03M
Income statement
Turnover 70€19.25M
Operating result 9901€165k
Financial income 75€166
Financial charges 65€116k
Result before taxes 9903€50k
Income taxes 67/77€24k
Net result for the period 9904€26k
Result to be appropriated 9905€26k
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Legal Structure
NACE primary Joinery(43320)
Legal form Public limited company(014)
Incorporation28-06-1983
StatusActive
Postal code8700
First BS signal 23-09-2022
Latest BS signal 23-09-2022
Establishment units 1 location
VERONA•PRO
Careelstraat 21, 8700 TieltVervaardiging van kulassen, drijfstangen, zuigers, zuigerringen, enz
since 19832.022.560.559
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
37303I0161/00C002 Flanders 2.1 ha 1 · 1.0 ha -
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 12 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2022
28-09-2022
State Gazette act Director changes
23-09-2022
Judicial reorganisation Opening
Ondernemingsrechtbank Gent · collectif · event 19-09-2022
2021
19-05-2021
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2020
04-06-2020
NBB filing Annual accounts filed
fiscal year 2019 · volledig
2019
20-08-2019
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2018
31-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · volledig
2017
30-08-2017
NBB filing Annual accounts filed
fiscal year 2016 · volledig
2016
11-08-2016
NBB filing Annual accounts filed
fiscal year 2015 · volledig
2015
08-07-2015
NBB filing Annual accounts filed
fiscal year 2014 · volledig
2014
30-06-2014
NBB filing Annual accounts filed
fiscal year 2013 · volledig
2013
27-06-2013
NBB filing Annual accounts filed
fiscal year 2012 · volledig
2012
27-04-2012
NBB filing Annual accounts filed
fiscal year 2011 · verkort
Lifecycle & Insolvency Signals 1 events
23-09-2022
Judicial reorganisation Opening
Date: 19-09-2022 · Ondernemingsrechtbank Gent · collectif · Publications in State Gazette ↗
Time machine, BS events + macro context 2021, 2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262022-09-23 · Judicial reorganisation · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad, acts 1 acts
All acts · 1 updated 3 years ago
2022
28-09-2022 6 directors appointed, 1 resigning Director changes
  • Yves Lenders, Gedelegeerd bestuurder
  • Luc Germonpré, Gedelegeerd bestuurder
  • Linde Van Vracem, Gedelegeerd bestuurder
  • Félice Roes, Gedelegeerd bestuurder
  • Maxine Daems, Gedelegeerd bestuurder
  • Eric Van Zuijlen, Gedelegeerd bestuurder
  • VeronaPro Groep NV, Gedelegeerd bestuurder
Technical details 
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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Activities
Schrijnwerk43320Schrijnwerk43320Schrijnwerk van hout of van kunststof45421
Primary activity highlighted.
Names & trade names
Legal nameNL Verstaen
Registered office
Meulebeeksesteenweg 22
8700 Tielt, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative