ZEDES
ActiveSummary
ZEDES has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111,480 and a net result of €9,264. Equity is growing by ~10.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · fiscal year 2025, abbreviated schema
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result falls in 2025; 2025 is 8% below 2024.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 17,041 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,450 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% | 1.8% |
| 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 17,041 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €15,669 | €15,669 | €15,669 | €15,669 | €15,669 | €15,669 | €15,669 | = |
| Other operating charges640/8 | - | - | - | €2,512 | €2,536 | €2,650 | €2,754 | €2,821 | ▲ 2.4% |
| Gross operating margin9900 | -€4,623 | €23,444 | €28,135 | €27,920 | €27,821 | €33,201 | €33,448 | €32,298 | ▼ 3.4% |
| Operating profit (loss)9901 | -€6,813 | €5,387 | €10,046 | €9,739 | €9,616 | €14,882 | €15,025 | €13,808 | ▼ 8.1% |
| Financial charges65/66B | - | - | - | €595 | €317 | €310 | €215 | €221 | ▲ 2.8% |
| Recurring financial charges65 | €1,889 | €995 | €846 | €595 | €317 | €310 | €215 | €221 | ▲ 2.8% |
| Profit (loss) for the period before taxes9903 | -€8,702 | €4,392 | €9,200 | €9,144 | €9,299 | €14,572 | €14,810 | €13,587 | ▼ 8.3% |
| Income taxes67/77 | - | - | €885 | €3,070 | €2,959 | €4,525 | €4,712 | €4,323 | ▼ 8.3% |
| Profit (loss) for the period9904 | -€8,702 | €4,392 | €8,315 | €6,074 | €6,340 | €10,047 | €10,098 | €9,264 | ▼ 8.3% |
| Profit (loss) for the period to be appropriated9905 | -€8,702 | €4,392 | €8,315 | €6,074 | €6,340 | €10,047 | €10,098 | €9,264 | ▼ 8.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €284,787 | €270,009 | €258,913 | €245,893 | €232,877 | €229,135 | €239,235 | €247,173 | ▲ 3.3% |
| Fixed assets21/28 | €281,217 | €265,548 | €249,879 | €234,210 | €218,541 | €202,872 | €187,203 | €171,534 | ▼ 8.4% |
| Tangible fixed assets22/27 | €281,217 | €265,548 | €249,879 | €234,210 | €218,541 | €202,872 | €187,203 | €171,534 | ▼ 8.4% |
| Land and buildings22 | - | - | - | €234,210 | €218,541 | €202,872 | €187,203 | €171,534 | ▼ 8.4% |
| Current assets29/58 | €3,570 | €4,461 | €9,034 | €11,683 | €14,336 | €26,263 | €52,032 | €75,639 | ▲ 45.4% |
| Amounts receivable within one year40/41 | - | - | - | - | €41 | - | €288 | €964 | ▲ 235% |
| Other amounts receivable41 | - | - | - | - | €41 | - | €288 | €964 | ▲ 235% |
| Cash at bank and in hand54/58 | - | €2,975 | €8,449 | €11,077 | €13,622 | €25,517 | €50,987 | €73,914 | ▲ 45.0% |
| Deferred charges and accrued income490/1 | - | - | - | €606 | €673 | €746 | €757 | €761 | ▲ 0.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €284,787 | €270,009 | €258,913 | €245,893 | €232,877 | €229,135 | €239,235 | €247,173 | ▲ 3.3% |
| Equity10/15 | €56,950 | €61,342 | €69,657 | €75,731 | €82,071 | €92,118 | €102,216 | €111,480 | ▲ 9.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €3,652 | €3,952 | €7,657 | €13,731 | €20,071 | €30,118 | €40,216 | €49,480 | ▲ 23.0% |
| Non-distributable reserves130/1 | - | - | - | €4,300 | €4,700 | €5,300 | €5,900 | €6,400 | ▲ 8.5% |
| Legal reserve130 | - | - | - | €4,300 | €4,700 | €5,300 | €5,900 | €6,400 | ▲ 8.5% |
| Distributable reserves133 | - | - | - | €9,431 | €15,371 | €24,818 | €34,316 | €43,080 | ▲ 25.5% |
| Profit (loss) carried forward14 | -€8,702 | -€4,610 | -€8,702 | - | - | - | - | - | - |
| Amounts payable17/49 | €227,837 | €208,667 | €189,256 | €170,162 | €150,806 | €137,017 | €137,019 | €135,693 | ▼ 1.0% |
| Amounts payable after more than one year17 | €72,542 | €52,863 | €33,244 | €13,357 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €13,357 | - | - | - | - | - |
| Amounts payable within one year42/48 | €155,295 | €155,804 | €156,012 | €156,805 | €150,806 | €137,017 | €137,019 | €135,693 | ▼ 1.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €19,873 | €15,021 | €3,524 | - | - | - |
| Trade debts44 | €3,533 | €4,435 | €3,516 | €3,986 | €3,724 | - | €3,526 | €3,701 | ▲ 5.0% |
| Suppliers440/4 | - | - | - | €3,986 | €3,724 | - | €3,526 | €3,701 | ▲ 5.0% |
| Taxes, remuneration and social security45 | - | - | - | €955 | €70 | €1,501 | €1,501 | - | - |
| Taxes450/3 | - | - | - | - | €70 | €1,501 | €1,501 | - | - |
| Remuneration and social security454/9 | - | - | - | €955 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €131,991 | €131,991 | €131,992 | €131,992 | €131,992 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,702 | €4,392 | €8,315 | €6,074 | €6,340 | €10,047 | €10,098 | €9,264 | ▼ 8.3% |
| + Depreciation and write-downs630 | - | €15,669 | €15,669 | €15,669 | €15,669 | €15,669 | €15,669 | €15,669 | = |
| Operating cash flow (approximation) | -€8,702 | €20,061 | €23,984 | €21,743 | €22,009 | €25,716 | €25,767 | €24,933 | ▼ 3.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | - | €5,474 | €2,628 | €2,545 | €11,895 | €25,470 | €22,927 | ▼ 10.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.