VOEDERS CEUSTERS
ActiveVOEDERS CEUSTERS has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.90M and a net result of €101k. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 44% of 7931 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability54▲+22
Solvency64▲+3
Growth54=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.47 in 2024; short-term debt: 59.6% and cash: 5.5% of total assets), and 61.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
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
38.6%
Return on assets
2.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
12 d late
2023
151 d late
2022
31 d late
2021
9 d late
2020
31 d late
2019
25 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€26.94M▼ 10.5%
2022 · €30.09M
2021: €23.37M
2022: €30.09M
2021 → 2023
EBIT margin
-1.8%▼ 7.0pp
2022 · 5.2%
2021: 2.5%
2022: 5.2%
2021 → 2023
Net result
€101k
2024 · €-17k
2018: €207k
2019: €-5k
2020: €213k
2021: €387k
2022: €1.13M
2023: €-560k
2024: €-17k
2018 → 2025
Working capital
€1.11M▼ 22.6%
2024 · €1.43M
2018: €449k
2019: €460k
2020: €592k
2021: €1.17M
2022: €2.23M
2023: €1.50M
2024: €1.43M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€23.37M-€30.09M▲ 28.8%€26.94M▼ 10.5%
Equity€1.41M-€2.37M▲ 68.7%€1.81M▼ 23.6%€1.80M▼ 0.9%€1.90M▲ 5.6%
Operating result€574k-€1.55M▲ 170%€-492k€106k€155k▲ 46.8%
Net result€387k-€1.13M▲ 192%€-560k€-17k▲ 97.0%€101k
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 47% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.92M
Fixed assets
€877k▲ 69.2%
Current assets
€4.04M▼ 9.3%
Equity and liabilities €4.92M
Equity
€1.90M▲ 5.6%
Debt
€3.02M▼ 5.0%
The debt ratio falls from 63.9% to 61.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€300k▲
2024 · €241k
Cash flow
€246k▲
2024 · €118k
Solvency
38.6%▲
2024 · 36.1%
Current ratio
1.38▼
2024 · 1.47
Quick ratio
1.24▼
2024 · 1.35
Debt / equity
1.59▼
2024 · 1.77
ROE
5.3%▲
2024 · -0.9%
ROA
2.1%▲
2024 · -0.3%
Interest coverage
3.98▲
2024 · 1.69
Debt
€3.02M▼
2024 · €3.18M
Debt ≤ 1 year
€2.93M▼
2024 · €3.03M
Debt > 1 year
€90k▼
2024 · €155k
Staff costs
€395k▲
2024 · €389k
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€4.98M€4.92M▼
Fixed assets21/28€519k€877k▲
Tangible fixed assets22/27€519k€877k▲
Land and buildings22€181k€160k▼
Plant, machinery and equipment23€98k€423k▲
Furniture and vehicles24€152k€226k▲
Leasing and similar rights25€88k€68k▼
Current assets29/58€4.46M€4.04M▼
Stocks and contracts in progress3€384k€415k▲
Stocks30/36€384k€415k▲
Amounts receivable within one year40/41€4.02M€3.35M▼
Trade receivables40€3.48M€2.98M▼
Other amounts receivable41€544k€378k▼
Cash at bank and in hand54/58€49k€270k▲
Deferred charges and accrued income490/1€773€5k▲
Equity and liabilities
Total equity and liabilities10/49€4.98M€4.92M▼
Equity10/15€1.80M€1.90M▲
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Reserves13€1.67M€1.77M▲
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Tax-exempt reserves132€22k€22k=
Distributable reserves133€1.64M€1.74M▲
Amounts payable17/49€3.18M€3.02M▼
Amounts payable after more than one year17€155k€90k▼
Financial debts170/4€155k€90k▼
Amounts payable within one year42/48€3.03M€2.93M▼
Current portion of amounts payable after more than one year42€113k€65k▼
Financial debts43€447k€450k▲
Credit institutions430/8€447k€450k▲
Trade debts44€2.11M€2.11M=
Suppliers440/4€2.11M€2.11M=
Taxes, remuneration and social security45€145k€97k▼
Taxes450/3€76k€50k▼
Remuneration and social security454/9€69k€48k▼
Other amounts payable47/48€209k€209k▲
Accrued charges and deferred income492/3€337-
Income statement
Code20242025
Non-recurring operating income76A€500€53k▲
Remuneration, social security and pensions62€389k€395k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€135k€145k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€267k-
Other operating charges640/8€58k€17k▼
Non-recurring operating charges66A€3k€1k▼
Gross operating margin9900€958k€714k▼
Operating profit (loss)9901€106k€155k▲
Financial income75/76B€20k€21k▲
Recurring financial income75€20k€21k▲
Financial charges65/66B€143k€75k▼
Recurring financial charges65€143k€75k▼
Profit (loss) for the period before taxes9903€-17k€101k▲
Profit (loss) for the period9904€-17k€101k▲
Profit (loss) for the period to be appropriated9905€-17k€101k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-577k€101k▲
Profit (loss) brought forward from the previous period14P€-560k-
Transfer from equity791/2€577k-
Transfer to equity691/2-€101k
To other reserves6921-€101k
Social balance
Average headcount (FTE)90875.76.1▲
The notes to these accounts (17 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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €101k
Net result €101k after 2 loss-making years.
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
29-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 151 days late
2023
31-12
Financial
Weakest financial yearnet €-560k ▼150%
Net result drops to €-560k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €1.13M ▲192%
Operating result €1.55M, net result €1.13M, both a record.
31-12
Financial
Equity above €2MEq €2.37M ▲68.7%
3 profitable years in a row build equity to €2.37M.
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 9 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Back to profitnet €213k
Net result €213k after one loss-making year.
31-12
Financial
Equity above €1MEq €1.02M ▲7.7%
Equity rises from €947k to €1.02M.
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 25 days late
2019
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 14 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Merksplas · 1 establishment unit since 1977
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.
Koekhoven 172330 MerksplasGround area
2,312 m²
Building footprint
978 m²
Volume, LiDAR
14,291 m³
Parcel 13023D0425/00T000, Flanders · tallest building 19.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Koekhoven 17, 2330 Merksplas
since 19772.013.753.553
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13023D0425/00T000 | Flanders | 2,312 m² | 1 · 978 m² | 19.0 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 1,280 EUR awarded · 1,280 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 453 EUR | 453 EUR |
| 2023 | 1 | 827 EUR | 827 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteMerksplas2.013.753.553
Legal Entity Identifier
984500BEAF6FCAE0B683
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Of 689 companies in sector 46216 we hold annual accounts for 476. 367 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-02-1977
Fiscal year end31-12
Activities, NACEBEL
10610Manufacture of food products
46216Wholesale of agricultural produce and animal feed, general range
51210
10910Manufacture of food products
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.