ZELLY
ActiveSummary
ZELLY has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €52k. Equity is shrinking by ~73.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 42% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+9
Solvency49▲+16
Growth58=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity tight (current ratio 1.16 against 0.96 in 2024; short-term debt: 75.9% and cash: 64.4% of total assets), and 75.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
24.1%
Return on assets
56.3%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €23k
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 23-07-2026, 8 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
8 d early
2024
7 d early
2023
29 d early
2022
6 d early
2021
13 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 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, micro schema
Equity
€23k▲ 157%
2024 · €9k
2021: €85khighest in 5 years
2022: €75k▼ -11.8% vs 2021
2023: €20k▼ -73.4% vs 2022
2024: €9k▼ -55.9% vs 2023lowest in 5 years
2025: €23k▲ +157% vs 2024
2021 → 2025
Total assets
€93k▼ 10.7%
2024 · €104k
2021: €199khighest in 5 years
2022: €180k▼ -9.5% vs 2021
2023: €121k▼ -33.2% vs 2022
2024: €104k▼ -13.4% vs 2023
2025: €93k▼ -10.7% vs 2024lowest in 5 years
2021 → 2025
Net result
€52k▲ 178%
2024 · €19k
2021: €15k
2022: €-10k▼ -165% vs 2021
2023: €-55k▼ -447% vs 2022lowest in 5 years
2024: €19k▲ +134% vs 2023
2025: €52k▲ +178% vs 2024highest in 5 years
2021 → 2025
Working capital
€12k
2024 · €-4k
2021: €70khighest in 5 years
2022: €61k▼ -13.2% vs 2021
2023: €7k▼ -88.7% vs 2022
2024: €-4k▼ -154% vs 2023lowest in 5 years
2025: €12k▲ +413% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€85k-€75k▼ 11.8%€20k▼ 73.4%€9k▼ 55.9%€23k▲ 157%
2021: €85khighest in 5 years
2022: €75k▼ -11.8% vs 2021
2023: €20k▼ -73.4% vs 2022
2024: €9k▼ -55.9% vs 2023lowest in 5 years
2025: €23k▲ +157% vs 2024
Operating result€24k-€-9k€-54k▼ 501%€20k€56k▲ 183%
2021: €24k
2022: €-9k▼ -138% vs 2021
2023: €-54k▼ -501% vs 2022lowest in 5 years
2024: €20k▲ +137% vs 2023
2025: €56k▲ +183% vs 2024highest in 5 years
Net result€15k-€-10k€-55k▼ 447%€19k€52k▲ 178%
2021: €15k
2022: €-10k▼ -165% vs 2021
2023: €-55k▼ -447% vs 2022lowest in 5 years
2024: €19k▲ +134% vs 2023
2025: €52k▲ +178% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 183% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €93k
Fixed assets
€11k ▼ 50.4%
Current assets
€82k ▼ 0.2%
Equity and liabilities €93k
Equity
€23k ▲ 157%
Debt
€71k ▼ 26.0%
Debt's share of the balance-sheet total falls from 91.6% to 75.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€67k▲
2024 · €30k
Cash flow
€63k▲
2024 · €30k
Current ratio
1.16▲
2024 · 0.96
Debt to equity
3.14▼
2024 · 10.92
ROE
233.2%▲
2024 · 215.8%
ROA
56.3%▲
2024 · 18.1%
Interest coverage
190.71▲
2024 · 62.90
Debt ≤ 1 year
€71k▼
2024 · €86k
Income taxes
€3k▲
2024 · €361
Staff costs
€150k▼
2024 · €161k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€104k€93k▼
Fixed assets21/28€22k€11k▼
Tangible fixed assets22/27€22k€11k▼
Land and buildings22€0€0=
Plant, machinery and equipment23€0€0=
Furniture and vehicles24€22k€11k▼
Other tangible fixed assets26€0€0=
Current assets29/58€82k€82k▼
Amounts receivable within one year40/41€24k€20k▼
Trade receivables40€23k€19k▼
Other amounts receivable41€639€2k▲
Cash at bank and in hand54/58€55k€60k▲
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€104k€93k▼
Equity10/15€9k€23k▲
Contributions10/11€248€248=
Reserves13€54k€22k▼
Tax-exempt reserves132€172€172=
Distributable reserves133€54k€22k▼
Profit (loss) carried forward14€-46k-
Amounts payable17/49€96k€71k▼
Amounts payable after more than one year17€9k-
Financial debts170/4€9k-
Amounts payable within one year42/48€86k€71k▼
Current portion of amounts payable after more than one year42€10k€9k▼
Trade debts44€12k€0▼
Suppliers440/4€12k€0▼
Taxes, remuneration and social security45€33k€23k▼
Taxes450/3€7k€8k▲
Remuneration and social security454/9€26k€15k▼
Other amounts payable47/48€30k€39k▲
Income statement
Code20242025
Remuneration, social security and pensions62€161k€150k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€11k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€193k€219k▲
Operating profit (loss)9901€20k€56k▲
Financial charges65/66B€483€351▼
Recurring financial charges65€483€351▼
Profit (loss) for the period before taxes9903€19k€56k▲
Income taxes67/77€361€3k▲
Profit (loss) for the period9904€19k€52k▲
Profit (loss) for the period to be appropriated9905€19k€52k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-46k€7k▲
Profit (loss) brought forward from the previous period14P€-65k€-46k▲
Transfer from equity791/2€30k€39k▲
Transfer to equity691/2-€7k
To other reserves6921-€7k
Profit to be distributed694/7€30k€39k▲
Return on contributions (dividend)694€30k€39k▲
The notes to these accounts (4 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €179k | €211k | €246k | €161k | €150k | ▼ 6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €491 | €11k | €11k | €11k | €11k | ▲ 3.8% |
| Other operating charges640/8 | €1k | €2k | €2k | €2k | €2k | ▲ 2.6% |
| Gross operating margin9900 | €205k | €215k | €204k | €193k | €219k | ▲ 13.3% |
| Operating profit (loss)9901 | €24k | €-9k | €-54k | €20k | €56k | ▲ 183% |
| Financial income75/76B | - | - | €1 | - | - | - |
| Recurring financial income75 | - | - | €1 | - | - | - |
| Financial charges65/66B | €980 | €724 | €674 | €483 | €351 | ▼ 27.3% |
| Recurring financial charges65 | €980 | €724 | €674 | €483 | €351 | ▼ 27.3% |
| Profit (loss) for the period before taxes9903 | €23k | €-10k | €-54k | €19k | €56k | ▲ 189% |
| Income taxes67/77 | €7k | €346 | €368 | €361 | €3k | ▲ 763% |
| Profit (loss) for the period9904 | €15k | €-10k | €-55k | €19k | €52k | ▲ 178% |
| Profit (loss) for the period to be appropriated9905 | €15k | €-10k | €-55k | €19k | €52k | ▲ 178% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €199k | €180k | €121k | €104k | €93k | ▼ 10.7% |
| Fixed assets21/28 | €54k | €43k | €33k | €22k | €11k | ▼ 50.4% |
| Tangible fixed assets22/27 | €54k | €43k | €33k | €22k | €11k | ▼ 50.4% |
| Land and buildings22 | - | €0 | €0 | €0 | €0 | - |
| Plant, machinery and equipment23 | - | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | €54k | €43k | €33k | €22k | €11k | ▼ 50.4% |
| Other tangible fixed assets26 | - | €0 | €0 | €0 | €0 | - |
| Current assets29/58 | €146k | €137k | €88k | €82k | €82k | ▼ 0.2% |
| Amounts receivable within one year40/41 | €20k | €26k | €24k | €24k | €20k | ▼ 16.3% |
| Trade receivables40 | €20k | €24k | €24k | €23k | €19k | ▼ 20.6% |
| Other amounts receivable41 | - | €2k | - | €639 | €2k | ▲ 142% |
| Cash at bank and in hand54/58 | €122k | €108k | €61k | €55k | €60k | ▲ 8.3% |
| Deferred charges and accrued income490/1 | €4k | €4k | €3k | €3k | €2k | ▼ 26.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €199k | €180k | €121k | €104k | €93k | ▼ 10.7% |
| Equity10/15 | €85k | €75k | €20k | €9k | €23k | ▲ 157% |
| Contributions10/11 | €248 | €248 | €248 | €248 | €248 | = |
| Reserves13 | €84k | €84k | €84k | €54k | €22k | ▼ 59.1% |
| Tax-exempt reserves132 | €172 | €172 | €172 | €172 | €172 | = |
| Distributable reserves133 | €84k | €84k | €84k | €54k | €22k | ▼ 59.2% |
| Profit (loss) carried forward14 | €121 | €-10k | €-65k | €-46k | - | - |
| Amounts payable17/49 | €115k | €106k | €101k | €96k | €71k | ▼ 26.0% |
| Amounts payable after more than one year17 | €39k | €30k | €20k | €9k | - | - |
| Financial debts170/4 | €39k | €30k | €20k | €9k | - | - |
| Amounts payable within one year42/48 | €75k | €76k | €81k | €86k | €71k | ▼ 18.0% |
| Current portion of amounts payable after more than one year42 | €10k | €10k | €10k | €10k | €9k | ▼ 7.2% |
| Trade debts44 | €13k | €12k | €16k | €12k | €0 | ▼ 100% |
| Suppliers440/4 | €13k | €12k | €16k | €12k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €46k | €53k | €54k | €33k | €23k | ▼ 32.2% |
| Taxes450/3 | €11k | €15k | €8k | €7k | €8k | ▲ 5.7% |
| Remuneration and social security454/9 | €34k | €38k | €46k | €26k | €15k | ▼ 42.8% |
| Other amounts payable47/48 | €7k | €1k | €460 | €30k | €39k | ▲ 27.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €-10k | €-55k | €19k | €52k | ▲ 178% |
| + Depreciation and write-downs630 | €491 | €11k | €11k | €11k | €11k | ▲ 3.8% |
| Operating cash flow (approximation) | €16k | €604 | €-44k | €30k | €63k | ▲ 115% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-14k | €-46k | €-6k | €5k | ▲ 177% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €52k ▲178%
Operating result €56k, net result €52k, both a record.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €19k
Net result €19k after 2 loss-making years.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-55k
Net result drops to €-55k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Maldegem · 2 establishment units since 2000
Ground area
3,454 m²
Building footprint
1,178 m²
Volume, LiDAR
5,345 m³
3 parcels, Flanders · tallest building 16.6 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
JBC MODE
since 20002.097.507.511
JBC Mode
since 20182.272.607.951
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062B0010/00T007 | Flanders | 2,737 m² | 1 · 1,057 m² | 16.6 m · 2 fl. |
| 43001H0311/00D000 | Flanders | 572 m² | 1 · 120 m² | 7.5 m · 2 fl. |
| 43352E0859/00D000 | Flanders | 145 m² | - | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 5,913 EUR awarded · 5,913 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
| 2023 | 1 | 1,913 EUR | 1,913 EUR |
Schemes
Hinderpremie bij openbare werken
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Recognitions · licences · registrations
Dual-learning approval
3 endedVerkoper (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
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Of 1,034 companies in sector 47721 we hold annual accounts for 582. 347 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
Founded14-07-2000
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47721Retail sale of footwear
47512Retail sale of household textiles and bedding
Contact
E-mail
zelly@telenet.be
Phone
050719550
Scores and ratios are computed by Checked and are not a credit decision.