ZAVECO
ActiveSummary
ZAVECO has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79k and a net result of €-2k. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 37% of 276 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+6
Solvency52▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity short (current ratio 0.39 against 0.37 in 2024; short-term debt: 72.7% and cash: 0.2% of total assets), and 72.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)
about 8% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.3%
Return on assets
-0.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-2k
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
on the day
2023
2 d early
2022
4 d early
2021
31 d late
2020
58 d late
2019
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€79k▼ 2.6%
2024 · €82k
2018: €60klowest in 8 years
2019: €76k▲ +26.3% vs 2018
2020: €90k▲ +18.7% vs 2019
2021: €99k▲ +9.9% vs 2020highest in 8 years
2022: €98k▼ -1.3% vs 2021
2023: €97k▼ -1.1% vs 2022
2024: €82k▼ -15.7% vs 2023
2025: €79k▼ -2.6% vs 2024
2018 → 2025
Total assets
€291k▼ 0.5%
2024 · €292k
2018: €257klowest in 8 years
2019: €273k▲ +6.5% vs 2018
2020: €288k▲ +5.2% vs 2019
2021: €303k▲ +5.3% vs 2020
2022: €328k▲ +8.4% vs 2021highest in 8 years
2023: €307k▼ -6.5% vs 2022
2024: €292k▼ -4.8% vs 2023
2025: €291k▼ -0.5% vs 2024
2018 → 2025
Net result
€-2k▲ 86.1%
2024 · €-15k
2018: €27khighest in 8 years
2019: €16k▼ -42.0% vs 2018
2020: €14k▼ -10.2% vs 2019
2021: €9k▼ -36.9% vs 2020
2022: €-1k▼ -114% vs 2021
2023: €-1k▲ +18.5% vs 2022
2024: €-15k▼ -1350% vs 2023lowest in 8 years
2025: €-2k▲ +86.1% vs 2024
2018 → 2025
Working capital
€-129k▲ 2.4%
2024 · €-132k
2018: €33k
2019: €58k▲ +75.7% vs 2018highest in 8 years
2020: €24k▼ -59.0% vs 2019
2021: €-127k▼ -633% vs 2020
2022: €-141k▼ -11.2% vs 2021lowest in 8 years
2023: €-120k▲ +14.8% vs 2022
2024: €-132k▼ -9.9% vs 2023
2025: €-129k▲ +2.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€99k-€98k▼ 1.3%€97k▼ 1.1%€82k▼ 15.7%€79k▼ 2.6%
2021: €99khighest in 5 years
2022: €98k▼ -1.3% vs 2021
2023: €97k▼ -1.1% vs 2022
2024: €82k▼ -15.7% vs 2023
2025: €79k▼ -2.6% vs 2024lowest in 5 years
Operating result€8k-€-1k€-546▲ 47.9%€-15k▼ 2,596%€-2k▲ 89.3%
2021: €8khighest in 5 years
2022: €-1k▼ -112% vs 2021
2023: €-546▲ +47.9% vs 2022
2024: €-15k▼ -2596% vs 2023lowest in 5 years
2025: €-2k▲ +89.3% vs 2024
Net result€9k-€-1k€-1k▲ 18.5%€-15k▼ 1,350%€-2k▲ 86.1%
2021: €9khighest in 5 years
2022: €-1k▼ -114% vs 2021
2023: €-1k▲ +18.5% vs 2022
2024: €-15k▼ -1350% vs 2023lowest in 5 years
2025: €-2k▲ +86.1% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2025 against €15k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €291k
Fixed assets
€208k ▼ 2.5%
Current assets
€82k ▲ 4.8%
Equity and liabilities €291k
Equity
€79k ▼ 2.6%
Debt
€211k ▲ 0.3%
Debt's share of the balance-sheet total rises from 72.1% to 72.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€19k▲
2024 · €7k
Cash flow
€18k▲
2024 · €6k
Current ratio
0.39▲
2024 · 0.37
Debt to equity
2.66▲
2024 · 2.58
ROE
-2.7%▲
2024 · -18.7%
ROA
-0.7%▲
2024 · -5.2%
Interest coverage
35.25▲
2024 · 12.85
Debt ≤ 1 year
€211k▲
2024 · €211k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€292k€291k▼
Fixed assets21/28€214k€208k▼
Tangible fixed assets22/27€214k€208k▼
Land and buildings22€204k€203k▼
Plant, machinery and equipment23€9k€5k▼
Furniture and vehicles24€373€0▼
Current assets29/58€78k€82k▲
Stocks and contracts in progress3€1k€0▼
Stocks30/36€1k€0▼
Amounts receivable within one year40/41€74k€82k▲
Trade receivables40€1k€6k▲
Other amounts receivable41€73k€76k▲
Cash at bank and in hand54/58€2k€470▼
Deferred charges and accrued income490/1€893€0▼
Equity and liabilities
Total equity and liabilities10/49€292k€291k▼
Equity10/15€82k€79k▼
Contributions10/11€21k€21k=
Reserves13€23k€23k=
Tax-exempt reserves132€496€496=
Distributable reserves133€22k€22k=
Profit (loss) carried forward14€38k€36k▼
Amounts payable17/49€211k€211k▲
Amounts payable within one year42/48€211k€211k▲
Trade debts44€12k€15k▲
Suppliers440/4€12k€15k▲
Taxes, remuneration and social security45€34€0▼
Taxes450/3€34€0▼
Other amounts payable47/48€198k€196k▼
Accrued charges and deferred income492/3-€16
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€21k▼
Other operating charges640/8€4k€3k▼
Gross operating margin9900€10k€22k▲
Operating profit (loss)9901€-15k€-2k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€520€537▲
Recurring financial charges65€520€537▲
Profit (loss) for the period before taxes9903€-15k€-2k▲
Profit (loss) for the period9904€-15k€-2k▲
Profit (loss) for the period to be appropriated9905€-15k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€38k€36k▼
Profit (loss) brought forward from the previous period14P€53k€38k▼
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €6k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €22k | €24k | €21k | €21k | ▼ 4.1% |
| Other operating charges640/8 | €3k | €3k | €3k | €4k | €3k | ▼ 12.6% |
| Gross operating margin9900 | €27k | €24k | €27k | €10k | €22k | ▲ 116% |
| Operating profit (loss)9901 | €8k | €-1k | €-546 | €-15k | €-2k | ▲ 89.3% |
| Financial income75/76B | €522 | €4 | €1 | €0 | - | - |
| Recurring financial income75 | €522 | €4 | €1 | €0 | - | - |
| Financial charges65/66B | €15 | €246 | €506 | €520 | €537 | ▲ 3.4% |
| Recurring financial charges65 | €15 | €246 | €506 | €520 | €537 | ▲ 3.4% |
| Profit (loss) for the period before taxes9903 | €9k | €-1k | €-1k | €-15k | €-2k | ▲ 86.1% |
| Profit (loss) for the period9904 | €9k | €-1k | €-1k | €-15k | €-2k | ▲ 86.1% |
| Profit (loss) for the period to be appropriated9905 | €9k | €-1k | €-1k | €-15k | €-2k | ▲ 86.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €303k | €328k | €307k | €292k | €291k | ▼ 0.5% |
| Fixed assets21/28 | €226k | €239k | €217k | €214k | €208k | ▼ 2.5% |
| Tangible fixed assets22/27 | €226k | €239k | €217k | €214k | €208k | ▼ 2.5% |
| Land and buildings22 | €210k | €214k | €202k | €204k | €203k | ▼ 0.6% |
| Plant, machinery and equipment23 | €13k | €23k | €14k | €9k | €5k | ▼ 40.1% |
| Furniture and vehicles24 | €3k | €2k | €1k | €373 | €0 | ▼ 100% |
| Current assets29/58 | €77k | €89k | €90k | €78k | €82k | ▲ 4.8% |
| Stocks and contracts in progress3 | - | - | €1k | €1k | €0 | ▼ 100% |
| Stocks30/36 | - | - | €1k | €1k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €75k | €85k | €83k | €74k | €82k | ▲ 10.1% |
| Trade receivables40 | €2k | €7k | €2k | €1k | €6k | ▲ 424% |
| Other amounts receivable41 | €73k | €78k | €81k | €73k | €76k | ▲ 3.7% |
| Cash at bank and in hand54/58 | €698 | €4k | €5k | €2k | €470 | ▼ 79.1% |
| Deferred charges and accrued income490/1 | €852 | €57 | €859 | €893 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €303k | €328k | €307k | €292k | €291k | ▼ 0.5% |
| Equity10/15 | €99k | €98k | €97k | €82k | €79k | ▼ 2.6% |
| Contributions10/11 | €21k | €21k | €21k | €21k | €21k | = |
| Reserves13 | €23k | €23k | €23k | €23k | €23k | = |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Tax-exempt reserves132 | €496 | €496 | €496 | €496 | €496 | = |
| Distributable reserves133 | €20k | €20k | €22k | €22k | €22k | = |
| Profit (loss) carried forward14 | €55k | €54k | €53k | €38k | €36k | ▼ 5.6% |
| Amounts payable17/49 | €204k | €231k | €210k | €211k | €211k | ▲ 0.3% |
| Amounts payable within one year42/48 | €204k | €230k | €210k | €211k | €211k | ▲ 0.3% |
| Trade debts44 | €9k | €34k | €13k | €12k | €15k | ▲ 23.9% |
| Suppliers440/4 | €9k | €34k | €13k | €12k | €15k | ▲ 23.9% |
| Taxes, remuneration and social security45 | - | - | - | €34 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €34 | €0 | ▼ 100% |
| Other amounts payable47/48 | €195k | €196k | €197k | €198k | €196k | ▼ 1.2% |
| Accrued charges and deferred income492/3 | €36 | €133 | €0 | - | €16 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €-1k | €-1k | €-15k | €-2k | ▲ 86.1% |
| + Depreciation and write-downs630 | €15k | €22k | €24k | €21k | €21k | ▼ 4.1% |
| Operating cash flow (approximation) | €24k | €21k | €23k | €6k | €18k | ▲ 199% |
| Investment in fixed assets (approximation) | - | €-35k | €-2k | €-18k | €-15k | ▲ 15.7% |
| Change in cash | - | €3k | €895 | €-3k | €-2k | ▲ 33.0% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 58 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Kinrooi · 1 establishment unit since 1978
Ground area
5,278 m²
Building footprint
760 m²
Volume, LiDAR
5,221 m³
Parcel 72018B0682/00F000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Breeërsteenweg (Kin) 248, 3640 Kinrooi
since 19782.014.791.453
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72018B0682/00F000 | Flanders | 5,278 m² | 1 · 760 m² | 9.1 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.
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Of 663 companies in sector 16110 we hold annual accounts for 320. 186 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
Founded01-04-1978
Fiscal year end31-12
Activities, NACEBEL 2025
16110Sawmilling and planing of wood
46832Wholesale of timber
Scores and ratios are computed by Checked and are not a credit decision.