ZELDA
ActiveSummary
ZELDA has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €446k and a net result of €18k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 24% of 301 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+1
Solvency32▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.38 against 0.18 in 2024; short-term debt: 6.6% and cash: 1.9% of total assets), and 93.2% 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
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
6.8%
Return on assets
0.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 301 sector peers (2025).
NBB · sector comparisonPosition among 301 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
6 d early
2023
29 d late
2022
60 d early
2021
2 d early
2020
85 d early
2019
on the day
← 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€18k▲ 30.7%
2024 · €14k
Working capital
€-267k▲ 22.8%
2024 · €-346k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€81k€102k▲ 25.3%€16k▼ 84.6%€65k▲ 317%€63k▼ 2.7%
Net result€11k€44k▲ 312%€-37k€14k€18k▲ 30.7%
Equity€407k▲ 2.7%€451k▲ 10.8%€414k▼ 8.2%€428k▲ 3.4%€446k▲ 4.3%
Total assets€8.52M▲ 83.4%€8.36M▼ 1.8%€8.01M▼ 4.3%€6.73M▼ 16.0%€6.52M▼ 3.0%
Debt€8.11M▲ 91.0%€7.91M▼ 2.5%€7.59M▼ 4.0%€6.30M▼ 17.1%€6.08M▼ 3.5%
Working capital€-419k▲ 78.1%€-383k▲ 8.6%€-448k▼ 17.0%€-346k▲ 22.7%€-267k▲ 22.8%
Staff (FTE)7.6▼ 24.8%7.6=7.5▼ 1.3%7.5=7.6▲ 1.3%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.52M
Fixed assets
€6.36M ▼ 3.8%
Current assets
€165k ▲ 124%
Equity and liabilities €6.52M
Equity
€446k ▲ 4.3%
Debt
€6.08M ▼ 3.5%
Debt's share of the balance-sheet total falls from 93.6% to 93.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€293k▼
2024 · €303k
Cash flow
€248k▼
2024 · €252k
Current ratio
0.38▲
2024 · 0.18
Quick ratio
0.32▲
2024 · 0.12
Debt to equity
13.62▼
2024 · 14.72
ROE
4.1%▲
2024 · 3.3%
ROA
0.3%▲
2024 · 0.2%
Interest coverage
5.83▲
2024 · 5.81
Debt ≤ 1 year
€432k▲
2024 · €420k
Debt > 1 year
€5.64M▼
2024 · €5.88M
Staff costs
€383k▲
2024 · €370k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €134k | €1k | €500 | €210k | ▲ 41,930% |
| Remuneration, social security and pensions62 | €182k | €284k | €308k | €370k | €383k | ▲ 3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €295k | €267k | €232k | €238k | €230k | ▼ 3.5% |
| Other operating charges640/8 | €23k | €25k | €42k | €24k | €34k | ▲ 40.8% |
| Non-recurring operating charges66A | - | - | €171k | - | - | - |
| Gross operating margin9900 | €581k | €677k | €769k | €698k | €711k | ▲ 1.9% |
| Operating profit (loss)9901 | €81k | €102k | €16k | €65k | €63k | ▼ 2.7% |
| Financial income75/76B | €268 | €241 | €180 | €976 | €5k | ▲ 422% |
| Recurring financial income75 | €268 | €241 | €180 | €976 | €5k | ▲ 422% |
| Financial charges65/66B | €70k | €57k | €53k | €52k | €50k | ▼ 3.7% |
| Recurring financial charges65 | €70k | €57k | €53k | €52k | €50k | ▼ 3.7% |
| Profit (loss) for the period before taxes9903 | €11k | €45k | €-37k | €14k | €18k | ▲ 30.7% |
| Income taxes67/77 | €776 | €646 | €30 | - | - | - |
| Profit (loss) for the period9904 | €11k | €44k | €-37k | €14k | €18k | ▲ 30.7% |
| Profit (loss) for the period to be appropriated9905 | €11k | €44k | €-37k | €14k | €18k | ▲ 30.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.52M | €8.36M | €8.01M | €6.73M | €6.52M | ▼ 3.0% |
| Formation expenses20 | €160k | €120k | €80k | €40k | €303 | ▼ 99.2% |
| Fixed assets21/28 | €8.24M | €8.03M | €7.86M | €6.61M | €6.36M | ▼ 3.8% |
| Intangible fixed assets21 | €9k | €12k | €14k | €10k | €9k | ▼ 7.8% |
| Tangible fixed assets22/27 | €4.53M | €4.31M | €4.14M | €4.04M | €3.79M | ▼ 6.3% |
| Land and buildings22 | €3.84M | €3.74M | €3.68M | €3.69M | €3.53M | ▼ 4.4% |
| Plant, machinery and equipment23 | €644k | €537k | €427k | €329k | €240k | ▼ 27.1% |
| Furniture and vehicles24 | €36k | €25k | €25k | €24k | €23k | ▼ 3.0% |
| Leasing and similar rights25 | €10k | €9k | €8k | - | - | - |
| Financial fixed assets28 | €3.71M | €3.71M | €3.71M | €2.56M | €2.56M | = |
| Current assets29/58 | €118k | €211k | €72k | €74k | €165k | ▲ 124% |
| Stocks and contracts in progress3 | €21k | €20k | €22k | €24k | €26k | ▲ 8.7% |
| Stocks30/36 | €21k | €20k | €22k | €24k | €26k | ▲ 8.7% |
| Amounts receivable within one year40/41 | €45k | €76k | €17k | €17k | €17k | ▲ 1.6% |
| Trade receivables40 | €4k | €8k | €7k | €8k | €14k | ▲ 71.2% |
| Other amounts receivable41 | €41k | €68k | €9k | €9k | €3k | ▼ 65.7% |
| Cash at bank and in hand54/58 | €49k | €113k | €31k | €30k | €121k | ▲ 299% |
| Deferred charges and accrued income490/1 | €2k | €1k | €3k | €3k | €767 | ▼ 70.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.52M | €8.36M | €8.01M | €6.73M | €6.52M | ▼ 3.0% |
| Equity10/15 | €407k | €451k | €414k | €428k | €446k | ▲ 4.3% |
| Contributions10/11 | €250k | €250k | €250k | €250k | €250k | = |
| Capital10 | €250k | €250k | €250k | €250k | €250k | = |
| Issued capital100 | €250k | €250k | €250k | €250k | €250k | = |
| Reserves13 | €294k | €294k | €164k | €178k | €196k | ▲ 10.3% |
| Non-distributable reserves130/1 | €25k | €25k | €25k | €25k | €25k | = |
| Legal reserve130 | €25k | €25k | €25k | €25k | €25k | = |
| Tax-exempt reserves132 | €4k | €4k | €4k | €4k | €4k | = |
| Distributable reserves133 | €264k | €264k | €135k | €148k | €167k | ▲ 12.3% |
| Profit (loss) carried forward14 | €-137k | €-93k | - | - | - | - |
| Amounts payable17/49 | €8.11M | €7.91M | €7.59M | €6.30M | €6.08M | ▼ 3.5% |
| Amounts payable after more than one year17 | €7.58M | €7.32M | €7.07M | €5.88M | €5.64M | ▼ 4.0% |
| Financial debts170/4 | €7.58M | €7.32M | €7.07M | €5.88M | €5.64M | ▼ 4.0% |
| Amounts payable within one year42/48 | €537k | €594k | €520k | €420k | €432k | ▲ 3.0% |
| Current portion of amounts payable after more than one year42 | €354k | €308k | €263k | €244k | €220k | ▼ 9.9% |
| Financial debts43 | - | - | - | €6k | €12k | ▲ 106% |
| Credit institutions430/8 | - | - | - | €6k | €12k | ▲ 106% |
| Trade debts44 | €127k | €220k | €173k | €98k | €122k | ▲ 23.8% |
| Suppliers440/4 | €127k | €220k | €173k | €98k | €122k | ▲ 23.8% |
| Taxes, remuneration and social security45 | €55k | €65k | €83k | €70k | €77k | ▲ 9.8% |
| Taxes450/3 | €34k | €32k | €44k | €28k | €31k | ▲ 9.8% |
| Remuneration and social security454/9 | €21k | €33k | €39k | €42k | €46k | ▲ 9.8% |
| Other amounts payable47/48 | €1k | €1k | €1k | €1k | €1k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €44k | €-37k | €14k | €18k | ▲ 30.7% |
| + Depreciation and write-downs630 | €295k | €267k | €232k | €238k | €230k | ▼ 3.5% |
| Operating cash flow (approximation) | €305k | €311k | €195k | €252k | €248k | ▼ 1.6% |
| Investment in fixed assets (approximation) | - | €-56k | €-55k | €1.01M | €24k | ▼ 97.6% |
| Change in cash | - | €64k | €-82k | €-522 | €91k | ▲ 17,475% |
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
03-09
State Gazette act
Resignation: ADVIES & COORDINATIEBUREAU (enige statutaire bestuurder)Appointment: DEKIEN Johan (non-statutory director) · Registered-office move · Power of attorney7 facts ▸
State Gazette act
Resignation: ADVIES & COORDINATIEBUREAU (enige statutaire bestuurder)
Appointment: DEKIEN Johan (non-statutory director) · Registered-office move · Power of attorney7 facts ▸
- General meeting, 22-07-2026
- Other statement, waarneming verslag bestuursorgaan, ontslaan voorzitter van het voorlezen
- Director resignation, ADVIES & COORDINATIEBUREAU (enige statutaire bestuurder)
- Director appointment, DEKIEN Johan (non-statutory director)
- Registered-office move, 8433 Middelkerke, Tempelhofstraat 18
- Power of attorney, Greet Deboodt
- Power of attorney
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
07-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-148k
Net result drops to €-148k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €50k
Net result €50k after one loss-making year.
Show earlier events
31-12
Financial
Equity above €500kEq €544k ▲10.1%
Equity rises from €494k to €544k.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
DEKIEN Johan
CurrentNon-statutory director · since 03-09-2026
03-09-2026
DEKIEN Johan: Appointed as Non-statutory director
03-09-2026
ADVIES & COORDINATIEBUREAU: Resigned as Enige statutaire bestuurder
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Middelkerke · 1 establishment unit since 2002
Ground area
1.5 ha
Building footprint
1,097 m²
Volume, LiDAR
6,831 m³
2 parcels, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Villa Aqua
since 20022.100.563.407
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35018C0330/00M000 | Flanders | 1.2 ha | 1 · 213 m² | 10.4 m · 2 fl. |
| 35020A0380/00M000 | Flanders | 2,883 m² | 1 · 884 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Purpose
Gemengd landbouwbedrijf, omvattende alle subklassen; Het verschaffen van logies voor kortstondig verblijf, al dan niet in combinatie met het verschaffen van maaltijden in hotels…
Full purpose (63 activities)
- Gemengd landbouwbedrijf, omvattende alle subklassen
- Het verschaffen van logies voor kortstondig verblijf, al dan niet in combinatie met het verschaffen van maaltijden in hotels, motels en pensions (met hotelservice), conferentieoorden
- Kampeerterreinen
- De vakantiecentra en – dorpen (inclusief bungalow – en chaletparken) met of zonder restaurant en sportinfrastructuur ten behoeve van toeristen
- De verhuur van kamers door particulieren (al dan niet in combinatie met het verschaffen van maaltijden), kortstondig verblijf op hoeven, enzovoort
- Restaurants
- De café-restaurants (tavernen)
- Fast-food zaken, snackbars, frituren en dergelijke
- Drankgelegenheden
- Cafés
- Discotheken, dancings en dergelijke
- Catering
- Het bereiden van maaltijden en spijzen in centrale keukens, voor rekening van derden
- Beheer van onroerend goed
- Het verlenen van advies en praktische hulp aan bedrijven in verband met public relations en communicatie
- Overige adviesbureaus op het gebied van bedrijfsvoering en beheer
- Algemene audit – activiteiten
- Managementactiviteiten van holdings en coördinatiecentra
- Managementactiviteiten van holdings het tussenkomen in het dagelijks bestuur, het vertegenwoordigen van bedrijven op grond van bezit van of controle over het maatschappelijk kapitaal en andere managementactiviteiten
- Exploitatie van sportaccommodaties
- Exploitatie van fitness-centra en gymnastiekzalen
- Wasserettes, behandeling van was en reiniging van kleding ten behoeve van particulieren
- Kappen en schoonheidszorg
- Schoonheidszorg
- Het verlenen van advies op het gebied van de schoonheidszorgen en gezichtsverzorging, het aanbrengen van make-up, enzovoorts
- Huidverzorging en epileren
- Manicure en pedicure
- Lichaamsverzorging
- De diensten in verband met het lichamelijk welzijn, zoals verleend in inrichtingen voor thalassotherapie, kuuroorden, Turkse baden, sauna’s, stoombaden, solariums, massagesalons, enzovoort
- Aan- en verkoop en vervaardiging van sauna’s, wellnesstoestellen, schoonheidsproducten
- Het bouwrijp maken van terreinen
- Het slopen van gebouwen en grondverzet
- Algemene coördinatie van bouwwerkzaamheden op de bouwwerf
- Het bouwen van individuele huizen
- Het optrekken van de ruwbouw van individuele huizen
- Het optrekken van gebouwen voor industriële of commerciële doeleinden
- Dakbedekking en bouw van dakconstructies
- Het bouwen van daken
- Het plaatsen van dakgoten
- De bouw van speel -, sportterreinen en zwembaden
- Onderneming voor het uitvoeren van metselwerken
- Onderneming voor het aanbrengen van chape
- Onderneming voor het bouwen van schoorstenen en industriële ovens
- Metaalconstructies en metaalschrijnwerk
- Elektrische installaties
- Verwarmingsinstallaties
- Loodgieterswerk
- Stukadoorswerk
- Schrijnwerk
- Het plaatsen van vloer – en wandtegels
- Schilderen en glas zetten
- Het behandelen van muren met vochtwerende en waterafstotende producten
- Algemene renovatiewerken aan gebouwen
- Teelt van andere granen dan rijst en van peulgewassen en van oliehoudende zaden
- Teelt van groenten, meloenen en wortel - en knolgewassen
- Teelt van vezelgewassen
- Teelt van andere eenjarige gewassen
- Behandeling van gewassen na oogst en van zaden voor vermeerdering
- Ondersteunende activiteiten in verband met de teelt van gewassen
- Gemengd landbouwbedrijf
- Onderhoud en herstelling van landbouwtractoren, motoculteurs en gazonmaaiers
- Vermeerderen van zaden
- De vennootschap mag in België en in het buitenland alle commerciële, industriële, financiële, roerende en onroerende verrichtingen doen dat rechtstreeks of onrechtstreeks in verband staan met haar maatschappelijk doel. Zij mag eveneens belangen hebben bij wijze van inbrengen, inschrijvingen of anderszins, in alle ondernemingen, verenigingen of vennootschappen die een gelijkaardig, analoog of aanverwant doel nastreven of wier doel van natura is dat van de vennootschap te bevorderen. Zij mag leningen toestaan aan, en waarborg stellen, voor derden.
Recognitions · licences · registrations
Food safety, FASFC
1 siteOostende2.100.563.407
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Of 6,708 companies in sector 96230 we hold annual accounts for 627. 305 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded28-02-2002
Fiscal year end31-12
Activities, NACEBEL 2025
96230Day spas, saunas and steam baths
56301Cafés and bars
Scores and ratios are computed by Checked and are not a credit decision.