ZEESTER
ActiveSummary
ZEESTER has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €126k and a net result of €10k. Equity is growing by ~34.3% per year across the filed fiscal years. Its solvency ranks better than 46% of 114 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-5
Solvency69▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.1 against 1.03 in 2024; short-term debt: 50.2% and cash: 39.8% of total assets), and 56.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 50
Relative position
BE, all sectors
reference
Water transport (NACE 50)
about 39% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
43.7%
Return on assets
3.3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-01-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
24 d early
2023
29 d early
2022
47 d early
2021
39 d early
2020
50 d early
2019
42 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€126k▲ 8.2%
2024 · €117k
2019: €10k
2020: €7k▼ -22.6% vs 2019
2021: €390▼ -94.8% vs 2020lowest in 7 years
2022: €65k▲ +16681% vs 2021
2023: €100k▲ +51.9% vs 2022
2024: €117k▲ +17.3% vs 2023
2025: €126k▲ +8.2% vs 2024highest in 7 years
2019 → 2025
Total assets
€289k▼ 9.1%
2024 · €318k
2019: €289k
2020: €229k▼ -20.8% vs 2019
2021: €197k▼ -14.1% vs 2020lowest in 7 years
2022: €290k▲ +47.7% vs 2021
2023: €299k▲ +2.8% vs 2022
2024: €318k▲ +6.4% vs 2023highest in 7 years
2025: €289k▼ -9.1% vs 2024
2019 → 2025
Net result
€10k▼ 58.5%
2024 · €23k
2019: €6k
2020: €-2k▼ -135% vs 2019
2021: €-7k▼ -224% vs 2020lowest in 7 years
2022: €65k▲ +1019% vs 2021highest in 7 years
2023: €34k▼ -47.8% vs 2022
2024: €23k▼ -32.2% vs 2023
2025: €10k▼ -58.5% vs 2024
2019 → 2025
Working capital
€14k▲ 173%
2024 · €5k
2019: €-75k
2020: €-94k▼ -25.4% vs 2019lowest in 7 years
2021: €-90k▲ +4.5% vs 2020
2022: €-48k▲ +47.1% vs 2021
2023: €-23k▲ +51.2% vs 2022
2024: €5k▲ +122% vs 2023
2025: €14k▲ +173% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€390-€65k▲ 16,681%€100k▲ 51.9%€117k▲ 17.3%€126k▲ 8.2%
2021: €390lowest in 5 years
2022: €65k▲ +16681% vs 2021
2023: €100k▲ +51.9% vs 2022
2024: €117k▲ +17.3% vs 2023
2025: €126k▲ +8.2% vs 2024highest in 5 years
Operating result€-5k-€89k€51k▼ 42.1%€36k▼ 30.9%€21k▼ 40.6%
2021: €-5klowest in 5 years
2022: €89k▲ +1952% vs 2021highest in 5 years
2023: €51k▼ -42.1% vs 2022
2024: €36k▼ -30.9% vs 2023
2025: €21k▼ -40.6% vs 2024
Net result€-7k-€65k€34k▼ 47.8%€23k▼ 32.2%€10k▼ 58.5%
2021: €-7klowest in 5 years
2022: €65k▲ +1019% vs 2021highest in 5 years
2023: €34k▼ -47.8% vs 2022
2024: €23k▼ -32.2% vs 2023
2025: €10k▼ -58.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 41% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €289k
Fixed assets
€130k ▼ 11.0%
Current assets
€159k ▼ 7.4%
Equity and liabilities €289k
Equity
€126k ▲ 8.2%
Debt
€163k ▼ 19.1%
Debt's share of the balance-sheet total falls from 63.3% to 56.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44k▼
2024 · €61k
Cash flow
€32k▼
2024 · €49k
Current ratio
1.10▲
2024 · 1.03
Quick ratio
1.09▲
2024 · 1.03
Debt to equity
1.29▼
2024 · 1.72
ROE
7.6%▼
2024 · 19.7%
ROA
3.3%▼
2024 · 7.3%
Interest coverage
19.54▼
2024 · 24.22
Debt ≤ 1 year
€145k▼
2024 · €167k
Debt > 1 year
€17k▼
2024 · €34k
Income taxes
€11k▲
2024 · €11k
Staff costs
€8k▲
2024 · €4k
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 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€318k€289k▼
Fixed assets21/28€146k€130k▼
Tangible fixed assets22/27€146k€130k▼
Plant, machinery and equipment23€105k€96k▼
Furniture and vehicles24€5k€5k▼
Leasing and similar rights25€36k€29k▼
Current assets29/58€172k€159k▼
Stocks and contracts in progress3€359€359=
Stocks30/36€359€359=
Amounts receivable within one year40/41€34k€39k▲
Trade receivables40€20k€20k▼
Other amounts receivable41€13k€19k▲
Cash at bank and in hand54/58€128k€115k▼
Deferred charges and accrued income490/1€9k€5k▼
Equity and liabilities
Total equity and liabilities10/49€318k€289k▼
Equity10/15€117k€126k▲
Contributions10/11€29k€29k=
Reserves13€121k€130k▲
Non-distributable reserves130/1€500€500=
Reserves not available under the articles1311€500€500=
Distributable reserves133€120k€130k▲
Profit (loss) carried forward14€-33k€-33k▲
Amounts payable17/49€201k€163k▼
Amounts payable after more than one year17€34k€17k▼
Financial debts170/4€34k€17k▼
Amounts payable within one year42/48€167k€145k▼
Current portion of amounts payable after more than one year42€17k€17k▲
Trade debts44€42k€27k▼
Suppliers440/4€42k€27k▼
Advances received on contracts in progress46-€410
Taxes, remuneration and social security45€247€873▲
Taxes450/3€247-
Remuneration and social security454/9-€873
Other amounts payable47/48€107k€99k▼
Accrued charges and deferred income492/3-€348
Income statement
Code20242025
Remuneration, social security and pensions62€4k€8k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€23k▼
Other operating charges640/8€5k€5k▼
Gross operating margin9900€71k€56k▼
Operating profit (loss)9901€36k€21k▼
Financial income75/76B€1k€2k▲
Recurring financial income75€1k€2k▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€34k€21k▼
Income taxes67/77€11k€11k▲
Profit (loss) for the period9904€23k€10k▼
Profit (loss) for the period to be appropriated9905€23k€10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-11k€-24k▼
Profit (loss) brought forward from the previous period14P€-34k€-33k▲
Transfer from equity791/2€6k-
Transfer to equity691/2€22k€10k▼
To other reserves6921€22k€10k▼
Profit to be distributed694/7€6k-
Return on contributions (dividend)694€6k-
The notes to these accounts (8 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 | - | - | €5k | - | - | - |
| Remuneration, social security and pensions62 | - | - | €4k | €4k | €8k | ▲ 80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33k | €25k | €16k | €26k | €23k | ▼ 11.8% |
| Other operating charges640/8 | - | €5k | €4k | €5k | €5k | ▼ 15.0% |
| Gross operating margin9900 | €36k | €119k | €76k | €71k | €56k | ▼ 21.0% |
| Operating profit (loss)9901 | €-5k | €89k | €51k | €36k | €21k | ▼ 40.6% |
| Financial income75/76B | - | €85 | €271 | €1k | €2k | ▲ 70.9% |
| Recurring financial income75 | €88 | €85 | €271 | €1k | €2k | ▲ 70.9% |
| Financial charges65/66B | - | €2k | €3k | €3k | €2k | ▼ 11.3% |
| Recurring financial charges65 | €2k | €2k | €3k | €3k | €2k | ▼ 11.3% |
| Profit (loss) for the period before taxes9903 | €-7k | €87k | €49k | €34k | €21k | ▼ 39.3% |
| Income taxes67/77 | €233 | €22k | €15k | €11k | €11k | ▲ 1.0% |
| Profit (loss) for the period9904 | €-7k | €65k | €34k | €23k | €10k | ▼ 58.5% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €65k | €34k | €23k | €10k | ▼ 58.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €197k | €290k | €299k | €318k | €289k | ▼ 9.1% |
| Fixed assets21/28 | €148k | €133k | €164k | €146k | €130k | ▼ 11.0% |
| Tangible fixed assets22/27 | €148k | €133k | €164k | €146k | €130k | ▼ 11.0% |
| Plant, machinery and equipment23 | - | €131k | €116k | €105k | €96k | ▼ 8.4% |
| Furniture and vehicles24 | - | €2k | €3k | €5k | €5k | ▼ 7.6% |
| Leasing and similar rights25 | - | - | €45k | €36k | €29k | ▼ 18.9% |
| Current assets29/58 | €49k | €157k | €135k | €172k | €159k | ▼ 7.4% |
| Stocks and contracts in progress3 | €359 | €359 | €359 | €359 | €359 | = |
| Stocks30/36 | - | €359 | €359 | €359 | €359 | = |
| Amounts receivable within one year40/41 | €5k | €50k | €28k | €34k | €39k | ▲ 14.5% |
| Trade receivables40 | - | €35k | €14k | €20k | €20k | ▼ 2.3% |
| Other amounts receivable41 | - | €15k | €14k | €13k | €19k | ▲ 40.0% |
| Cash at bank and in hand54/58 | €39k | €102k | €105k | €128k | €115k | ▼ 10.4% |
| Deferred charges and accrued income490/1 | - | €5k | €1k | €9k | €5k | ▼ 46.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €197k | €290k | €299k | €318k | €289k | ▼ 9.1% |
| Equity10/15 | €390 | €65k | €100k | €117k | €126k | ▲ 8.2% |
| Contributions10/11 | - | €29k | €29k | €29k | €29k | = |
| Reserves13 | €6k | €71k | €104k | €121k | €130k | ▲ 7.9% |
| Non-distributable reserves130/1 | - | €500 | €500 | €500 | €500 | = |
| Reserves not available under the articles1311 | - | €500 | €500 | €500 | €500 | = |
| Distributable reserves133 | - | €71k | €104k | €120k | €130k | ▲ 7.9% |
| Profit (loss) carried forward14 | €-35k | €-35k | €-34k | €-33k | €-33k | ▲ 0.2% |
| Amounts payable17/49 | €196k | €225k | €199k | €201k | €163k | ▼ 19.1% |
| Amounts payable after more than one year17 | €58k | €20k | €41k | €34k | €17k | ▼ 49.8% |
| Financial debts170/4 | - | €20k | €41k | €34k | €17k | ▼ 49.8% |
| Amounts payable within one year42/48 | €139k | €205k | €158k | €167k | €145k | ▼ 13.0% |
| Current portion of amounts payable after more than one year42 | - | €28k | €17k | €17k | €17k | ▲ 1.0% |
| Trade debts44 | €17k | €46k | €38k | €42k | €27k | ▼ 34.9% |
| Suppliers440/4 | - | €46k | €38k | €42k | €27k | ▼ 34.9% |
| Advances received on contracts in progress46 | - | - | - | - | €410 | - |
| Taxes, remuneration and social security45 | - | €22k | €2k | €247 | €873 | ▲ 253% |
| Taxes450/3 | - | €22k | €2k | €247 | - | - |
| Remuneration and social security454/9 | - | - | - | - | €873 | - |
| Other amounts payable47/48 | - | €108k | €102k | €107k | €99k | ▼ 7.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €348 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €65k | €34k | €23k | €10k | ▼ 58.5% |
| + Depreciation and write-downs630 | €33k | €25k | €16k | €26k | €23k | ▼ 11.8% |
| Operating cash flow (approximation) | €26k | €90k | €50k | €49k | €32k | ▼ 33.8% |
| Investment in fixed assets (approximation) | - | €-10k | €-47k | €-8k | €-7k | ▲ 13.1% |
| Change in cash | - | €63k | €3k | €23k | €-13k | ▼ 157% |
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
02-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Equity above €100kEq €117k ▲17.3%
3 profitable years in a row build equity to €117k.
02-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
15-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €65k
Net result €65k after 2 loss-making years.
2021
23-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
2020
12-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
17-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
12-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
13-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Nieuwpoort · 1 establishment unit since 2002
Ground area
305 m²
Building footprint
305 m²
Volume, LiDAR
1,376 m³
Parcel 38402E0167/00T006, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Robert Orlentpromenade 2, 8620 Nieuwpoort
since 20022.096.295.605
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38402E0167/00T006 | Flanders | 305 m² | 1 · 305 m² | 6.3 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 96 companies in sector 50100 we hold annual accounts for 38. 23 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
Founded01-07-2002
Fiscal year end30-06
Activities, NACEBEL 2025
50100Water transport
Scores and ratios are computed by Checked and are not a credit decision.