Equity
XENOS FORWARDING has made a profit without a break since 2023.
XENOS FORWARDING has made a profit without a break since 2023.
The accounts state no turnover.
Six of the last ten came late. The 2022 accounts came latest: 512 days after the end of the period.
Less equity than 84% of companies in land transport. Sector median €213,575 · 81 companies.
The dashed line is the sector median: 1.8% across 9,092 companies (NACE 49, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 49, micro). It does better than 28% of them on solvency, 15% on liquidity, 26% on profitability and 75% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-03-2026.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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).
In July 2024, 3,984 companies had the same profile as XENOS FORWARDING has now. Each dot stands for 10 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of XENOS FORWARDING itself: 1.1% within 12 months.
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 3,984 companies, not a prediction for XENOS FORWARDING. 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.
Liquidity is tight, with a current ratio of 1.19 (1.32 in 2025), below the usual 1.5. Short-term debt is 83.8% and cash 10.4% of total assets. 83.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 102 days after the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| XENOS FORWARDING Antwerp | €243,131 | €15,814 | 16.2% | - |
| RONIC Heist-op-den-Berg | €301,244 | €12,912 | 77.0% | - |
| VERVOERBEDRIJF VANHAECKE J. Beernem | €256,905 | €12,461 | 36.1% | - |
| EDECTRA Sint-Pieters-Leeuw | €197,966 | €13,528 | 93.7% | - |
| SENTRANS Stabroek | €187,064 | €18,307 | -4.4% | - |
| TVM solutions Antwerp | €222,904 | €22,557 | 67.5% | 0 |
| BENATRA Berlaar | €178,010 | €22,083 | 97.2% | - |
These companies have the same main activity as XENOS FORWARDING: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €178,000 and €301,000, founded between 2000 and 2007.
XENOS FORWARDING files the abbreviated format. That format states no turnover. The gross margin fell from €29,724 in 2007 to €15,814 in 2026.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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