Equity
€4.7m ▲ 22.1%
XPOWER has made a profit without a break since 2016.
XPOWER
Lifetime
19 annual accounts with figures on one time axis, 31 filings since 1994Gross marginpeak €5.9m (2024)
€5.9m▲ 7.0%
Resultlowest -€199,317 (2013)
€842,411▼ 11.0%
Equitypeak €4.7m (2024)
€4.7m▲ 22.1%
Debts
€3.3m▼ 7.2%
Staffpeak 44.8 FTE (2024)
44.8 FTE▲ 7.4%
Board5 names since 2019
2 directorsThibault Jonnaert and 1 other
Owners4 names in the annual accounts
100%CROWN ENTERPRISES and 1 other
Documentsfilings and deeds
19-03-2026231 days late
2024abbreviated format
Turnover from €8.5m to €9.6mEquity from €3.8m to €4.7mInvestments €1.9m
Key points
from the 2024 annual accountsStaff
48 employees on 31-12-2024
In 2024, 4 people joined and 1 left.
Payment terms
61 days to suppliers
XPOWER pays its suppliers 34 days earlier than in 2023. Customers pay 8 days later.
Filings
31 annual accounts 98 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
At the same address
6 companies
Position in the sector
€842,411
Higher net result than 95% of companies in computer programming and consultancy. Sector median €26,744 · 2,797 companies.
Checked score
56
Fair
Financially stronger than 66% of small companies in computer programming and consultancy (NACE 62)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 1,168 companies (NACE 62, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025lowest value
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.6%▲ +0.2 percentage points vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.7%▲ +0.1 percentage points vs 11-2025
01-2026: 1.3%▲ +0.6 percentage points vs 12-2025
02-2026: 1.3%● unchanged vs 01-2026
03-2026: 1.3%● unchanged vs 02-2026
04-2026: 0.4%▼ -0.9 percentage points vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.7%▲ +0.3 percentage points vs 05-2026
07-2026: 0.7%● unchanged vs 06-2026
08-2026: 0.8%▲ +0.1 percentage points vs 07-2026
09-2026: 1.1%▲ +0.3 percentage points vs 08-2026
10-2026: 1.7%▲ +0.6 percentage points vs 09-2026highest value
11-2026: 1.7%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
Figures for financial year 2024 (filed on 19-03-2026)
1 financial year not filed after the legal deadline; last filed accounts filed 231 days late; 3 of the last 3 accounts late
1 change of registered office in 24 months
Liquidity: current ratio 1.67, cash €250,541
Calculation
The band follows from the bankruptcy probability. 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 62, small). It does better than 72% of them on solvency, 37% on liquidity, 82% on profitability and 73% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as XPOWER has now. Each dot stands for 51 companies, two years later.
95.0%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
The bankruptcy probability of XPOWER itself is higher: 1.7% within 12 months. It rests on far more data about XPOWER than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,137 companies, not a prediction for XPOWER. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €260,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity is ample, with a current ratio of 1.67 (1.8 in 2023), above the usual 1.5. Short-term debt is 35% and cash 3.2% of total assets. 41.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises risk
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 98 days later.
NBB · 10 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline06-11-2026 today
raises risk · 2024 accounts filed 231 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-03-2026, 231 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
231 days late
2023
69 days late
2022
74 days late
2021
80 days late
2020
83 days late
2019
124 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 110 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (1)
Board and ownership
DE
Degran EOOD
Managing director, ANDY DE GROOTE
- CROWN ENTERPRISES 100%score 82equity €8.7m (2025) · 2025 annual accounts of CROWN ENTERPRISES
- Tubo's Hoet Invest consolidatesscore 85equity €34.1m (2025) · annual accounts 2024
Shares in 1 company, Hypercharge
Board & ownershipRecent changes
Registered office moved from Beervelde to Merelbeke-Melle
New registered office: Brusselsesteenweg 172/A, 9090 Merelbeke-Melle · Previous registered office: TOLEINDESTRAAT 7/101, 9080 BEERVELDE · General meeting of 10-03-2026 · Gazette deed
2 directors reappointed
Thibault Jonnaert and Degran EOOD (managing director) · Permanent representative: ANDY DE GROOTE · General meeting of 06-05-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0451526090
Appointment: NV CALLENS VANDELANOTTE (statutory auditor)
Permanent representative: Jan Degryse · General meeting of 04-10-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| XPOWER Merelbeke-Melle | €9.6m | 11.2% | 58.8% | 44.8 |
| PROMATIC - W Herstal | €9.2m | 15.1% | 16.5% | 42.4 |
| THE CONCEPT GROUP Turnhout | €11.8m | 8.7% | 39.3% | 51.9 |
| Septeo Notary Solutions BE Zaventem | - | - | 41.8% | 41.9 |
| FLOWSPARKS Ghent | €6.9m | 16.9% | 55.5% | 41.3 |
| NET IT Zottegem | €9.8m | 15.5% | 38.1% | 47.2 |
| FARMAD Beveren-Kruibeke-Zwijndrecht | - | - | 7.2% | 38.2 |
Grey: the largest companies of the sector (computer programming and consultancy (NACE 62)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as XPOWER: computer programming (NACE 62100). They are comparable in size and age: total assets between €7.3m and €11m, founded between 1987 and 2000.
Official details
Source: KBO- Status
- Active since 29-12-1993Normal situation
- Activity
- Computer programmingNACE 62100and 1 other
- Joint committees
- 200Auxiliary committee for white-collar workers
- 100Auxiliary committee for blue-collar workers · annual accounts 2024
- Establishment unit
- 2.065.077.3429090 Merelbeke-Melle, since 11-01-1994
- Financial year end
- 31 December
- Peppol
- Reachable since 13-08-2025
Annual accounts 2024
- Total assets
- €7.9m▲ 8.0%
- Employeeson 31-12-2024
- 48▲ 6.7%
- Filing
- Filed on 19-03-2026
Companies linked to XPOWER
Parent and group
Insights on XPOWER
XPOWER files the abbreviated format. That format states no turnover. The gross margin rose from €595,347 in 2006 to €5.9m in 2024.
CROWN ENTERPRISES holds all the shares. In May 2026, the Official Gazette published the appointment of Degran EOOD as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about XPOWER
- What is the company number of XPOWER?
- The company number of XPOWER is 0451.526.090. The VAT number is the same number with BE in front: BE 0451.526.090.
- Where is XPOWER based?
- The registered office is at Brusselsesteenweg 172, 9090 Merelbeke-Melle.Company details
- What does XPOWER do?
- According to the KBO register, the main activity is computer programming (NACE 62100).
- What is the legal form of XPOWER?
- XPOWER is a public limited company (NV).
- When was XPOWER founded?
- XPOWER was founded on 29-12-1993.
- Is XPOWER still active?
- Yes, XPOWER is an active enterprise in the KBO register.
- How many employees does XPOWER have?
- XPOWER had an average of 44.8 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- Which joint committee does XPOWER fall under?
- In its 2024 annual accounts, XPOWER states joint committees 200 (Auxiliary committee for white-collar workers) and 100 (Auxiliary committee for blue-collar workers).
- What is the turnover of XPOWER?
- The turnover of XPOWER was €9.6m in financial year 2024, according to the filed annual accounts.
- Is XPOWER profitable?
- In financial year 2024, XPOWER made a profit of €842,411.
- Where can I find the annual accounts of XPOWER?
- XPOWER filed 31 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
Next steps
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