X'Meat
ActiveSummary
The computed 12-month bankruptcy probability of X'Meat is 1.6% (moderate). The 2025 annual accounts show equity of €95,982 and a net result of €37,553. Equity is growing by ~24.5% per year across the filed fiscal years. Its solvency ranks better than 57% of 18626 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability90▼-4
Solvency67▼-10
Growth78=
Track record94
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.43 against 1.97 in 2024; short-term debt: 52.3% and cash: 23.8% of total assets), and 57.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
42.5%
Return on assets
16.6%
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 27-03-2026, 126 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
126 d early
2024
34 d early
2023
8 d early
2022
94 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 66 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 28 May (3 of the last 4 filed years within 57 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€95,982=
2024 · €95,982
Total assets
€225,985▲ 22.8%
2024 · €183,976
Net result
€37,553▲ 1.0%
2024 · €37,168
Working capital
€51,079▼ 23.2%
2024 · €66,517
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€52,918-€30,047▼ 43.2%€52,670▲ 75.3%€49,747▼ 5.6%
Net result€34,710above the sector's middle half-€19,104within the sector's middle half▼ 45.0%€37,168above the sector's middle half▲ 94.6%€37,553above the sector's middle half▲ 1.0%
Equity€39,710within the sector's middle half-€58,814within the sector's middle half▲ 48.1%€95,982within the sector's middle half▲ 63.2%€95,982within the sector's middle half=
Total assets€144,933within the sector's middle half-€128,563within the sector's middle half▼ 11.3%€183,976within the sector's middle half▲ 43.1%€225,985within the sector's middle half▲ 22.8%
Debt€105,223-€69,749▼ 33.7%€87,995▲ 26.2%€130,004▲ 47.7%
Working capital€2,809within the sector's middle half-€28,624within the sector's middle half▲ 919%€66,517within the sector's middle half▲ 132%€51,079within the sector's middle half▼ 23.2%
Solvency27.4%within the sector's middle half-45.7%within the sector's middle half▲ 18.3pp52.2%within the sector's middle half▲ 6.4pp42.5%within the sector's middle half▼ 9.7pp
Current ratio1.03within the sector's middle half-1.42within the sector's middle half▲ 0.391.97within the sector's middle half▲ 0.551.43within the sector's middle half▼ 0.53
Return on assets (ROA)23.9%above the sector's middle half-14.9%above the sector's middle half▼ 9.1pp20.2%above the sector's middle half▲ 5.3pp16.6%above the sector's middle half▼ 3.6pp
Staff (FTE)4-3.7▼ 7.5%3.9▲ 5.4%2.6▼ 33.3%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225,985
Fixed assets
€56,663 ▲ 16.6%
Current assets
€169,322 ▲ 25.1%
Equity and liabilities €225,985
Equity
€95,982 =
Debt
€130,004 ▲ 47.7%
Debt's share of the balance-sheet total rises from 47.8% to 57.5%. Debt is higher.
Key figures and ratios
EBITDA
€66,994▲
2024 · €65,148
Cash flow
€54,801▲
2024 · €49,645
Quick ratio
1.33▼
2024 · 1.81
Debt to equity
1.35▲
2024 · 0.92
ROE
39.1%▲
2024 · 38.7%
Interest coverage
48.50▲
2024 · 48.46
Debt ≤ 1 year
€118,243▲
2024 · €68,846
Debt > 1 year
€10,261▼
2024 · €17,648
Income taxes
€10,812▼
2024 · €14,158
Staff costs
€108,201▼
2024 · €115,527
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 39,278 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €620 | - | - |
| Remuneration, social security and pensions62 | €98,696 | €109,314 | €115,527 | €108,201 | ▼ 6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,388 | €8,067 | €12,477 | €17,247 | ▲ 38.2% |
| Other operating charges640/8 | €1,862 | €4,371 | €4,772 | €4,758 | ▼ 0.3% |
| Gross operating margin9900 | €159,863 | €151,800 | €185,447 | €179,953 | ▼ 3.0% |
| Operating profit (loss)9901 | €52,918 | €30,047 | €52,670 | €49,747 | ▼ 5.6% |
| Financial charges65/66B | €1,737 | €2,079 | €1,344 | €1,381 | ▲ 2.7% |
| Recurring financial charges65 | €1,737 | €2,079 | €1,344 | €1,381 | ▲ 2.7% |
| Profit (loss) for the period before taxes9903 | €51,181 | €27,968 | €51,326 | €48,366 | ▼ 5.8% |
| Income taxes67/77 | €16,471 | €8,864 | €14,158 | €10,812 | ▼ 23.6% |
| Profit (loss) for the period9904 | €34,710 | €19,104 | €37,168 | €37,553 | ▲ 1.0% |
| Profit (loss) for the period to be appropriated9905 | €34,710 | €19,104 | €37,168 | €37,553 | ▲ 1.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €144,933 | €128,563 | €183,976 | €225,985 | ▲ 22.8% |
| Fixed assets21/28 | €39,757 | €31,690 | €48,613 | €56,663 | ▲ 16.6% |
| Tangible fixed assets22/27 | €39,757 | €31,690 | €48,613 | €56,663 | ▲ 16.6% |
| Plant, machinery and equipment23 | €39,757 | €31,690 | €23,623 | €37,553 | ▲ 59.0% |
| Furniture and vehicles24 | - | - | €24,990 | €19,110 | ▼ 23.5% |
| Current assets29/58 | €105,176 | €96,873 | €135,363 | €169,322 | ▲ 25.1% |
| Stocks and contracts in progress3 | €9,204 | €11,061 | €10,739 | €12,344 | ▲ 14.9% |
| Stocks30/36 | €9,204 | €11,061 | €10,739 | €12,344 | ▲ 14.9% |
| Amounts receivable within one year40/41 | €18,133 | €14,999 | €6,527 | €31,705 | ▲ 386% |
| Trade receivables40 | €16,874 | €12,834 | €4,653 | €27,517 | ▲ 491% |
| Other amounts receivable41 | €1,259 | €2,165 | €1,873 | €4,188 | ▲ 124% |
| Current investments50/53 | - | - | €65,000 | €65,000 | = |
| Cash at bank and in hand54/58 | €73,472 | €65,743 | €46,918 | €53,686 | ▲ 14.4% |
| Deferred charges and accrued income490/1 | €4,367 | €5,070 | €6,180 | €6,587 | ▲ 6.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €144,933 | €128,563 | €183,976 | €225,985 | ▲ 22.8% |
| Equity10/15 | €39,710 | €58,814 | €95,982 | €95,982 | = |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €34,710 | €53,814 | €90,982 | €90,982 | = |
| Distributable reserves133 | €34,710 | €53,814 | €90,982 | €90,982 | = |
| Amounts payable17/49 | €105,223 | €69,749 | €87,995 | €130,004 | ▲ 47.7% |
| Amounts payable after more than one year17 | €2,857 | - | €17,648 | €10,261 | ▼ 41.9% |
| Financial debts170/4 | €2,857 | - | €17,648 | €10,261 | ▼ 41.9% |
| Amounts payable within one year42/48 | €102,367 | €68,249 | €68,846 | €118,243 | ▲ 71.7% |
| Current portion of amounts payable after more than one year42 | €5,649 | €2,857 | €7,133 | €7,387 | ▲ 3.6% |
| Trade debts44 | €58,931 | €40,627 | €35,301 | €47,595 | ▲ 34.8% |
| Suppliers440/4 | €58,931 | €40,627 | €35,301 | €47,595 | ▲ 34.8% |
| Taxes, remuneration and social security45 | €11,787 | €7,718 | €8,956 | €15,637 | ▲ 74.6% |
| Taxes450/3 | €1,986 | €7,604 | €8,956 | €10,882 | ▲ 21.5% |
| Remuneration and social security454/9 | €9,801 | €114 | - | €4,755 | - |
| Other amounts payable47/48 | €25,999 | €17,047 | €17,455 | €47,624 | ▲ 173% |
| Accrued charges and deferred income492/3 | - | €1,500 | €1,500 | €1,500 | = |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,710 | €19,104 | €37,168 | €37,553 | ▲ 1.0% |
| + Depreciation and write-downs630 | €6,388 | €8,067 | €12,477 | €17,247 | ▲ 38.2% |
| Operating cash flow (approximation) | €41,098 | €27,171 | €49,645 | €54,801 | ▲ 10.4% |
| Investment in fixed assets (approximation) | - | €0 | -€29,400 | -€25,298 | ▲ 14.0% |
| Change in cash | - | -€7,730 | -€18,825 | €6,769 | ▲ 136% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €37,553 ▲1%
Net result €37,553, the highest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €19,104 ▼45%
Net result drops to €19,104, the lowest in the series; recovery starts the following year.
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Zulte · 1 establishment unit since 2021
Ground area
662 m²
Building footprint
244 m²
Volume, LiDAR
1,613 m³
Parcel 44081C0050/00V003, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
X'MEAT
since 20212.324.968.056
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081C0050/00V003 | Flanders | 662 m² | 1 · 244 m² | 10.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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
1 siteZulte2.324.968.056
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Of 3,043 companies in sector 47221 we hold annual accounts for 1,566. 1,369 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
47221Retail sale of meat and meat products, excluding game and poultry
E-invoicing
Reachable via Peppol
Peppol ID
0208:0777932377
Also
9925:BE0777932377
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.