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ZETES

Active
Public limited companyfounded 197155 yrs activeStraatsburgstraat 3, 1130 Brussel, BelgiumKBO/BCE: BE 0408.425.626
Summary

ZETES has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €43.3m and a net result of €8.2m. Equity is growing by ~18.3% per year across the filed fiscal years. Its solvency ranks better than 52% of 166 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2026
Axes · tick = 2025
Profitability76▲+6
Solvency75▲+3
Growth67▲+1
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 1.54 against 1.66 in 2025; short-term debt: 38.1% and cash: 8.1% of total assets), and 49.7% of the assets are financed with debt.
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Signals

Seven 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 55 years 0 60 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026
Solvency, return and age of the figures
Solvency
50.3%
Return on assets
9.6%
Age of the figures
6 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 13-07-2026, 110 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2026
110 d early
2025
40 d early
2024
85 d early
2023
62 d early
2022
82 d early
2021
104 d early
2020
96 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 83 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 10 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
01-10-2026 today31-03-2027 close31-10-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

ZETES was incorporated on 3 August 1971.1 The board currently has 2 members; Bart Crols has served longest, since 2026.2 Revenue grew from EUR 88 million in 2019 to EUR 115 million in 2026 and headcount from 288 to 368 full-time equivalents.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 20-08-2026
  3. 3National Bank, annual accounts 2019 and 2026

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Financials · fiscal year 2026, full schema

Turnover
€115.0m▲ 8.0%
2025 · €106.5m
EBIT margin
7.2%▲ 3.0pp
2025 · 4.2%
Net result
€8.2m▲ 21.1%
2025 · €6.8m
Working capital
€17.6m▼ 9.9%
2025 · €19.5m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20222023202420252026
Turnover€74.3m▲ 3.6%€86.1m▲ 15.9%€100.8m▲ 17.0%€106.5m▲ 5.7%€115.0m▲ 8.0%
Operating result-€246,653▲ 79.9%€480,668€5.2m▲ 974%€4.5m▼ 13.5%€8.3m▲ 86.5%
Net result€866,996above the sector's middle half▼ 18.4%€2.2mabove the sector's middle half▲ 150%€12.6mabove the sector's middle half▲ 480%€6.8mabove the sector's middle half▼ 45.9%€8.2m▲ 21.1%
EBIT margin-0.3%▲ 1.4pp0.6%▲ 0.9pp5.1%▲ 4.6pp4.2%▼ 0.9pp7.2%▲ 3.0pp
Equity€19.9mabove the sector's middle half▲ 4.6%€18.0mabove the sector's middle half▼ 9.2%€38.2mabove the sector's middle half▲ 111%€40.8mabove the sector's middle half▲ 6.9%€43.3m▲ 6.2%
Total assets€71.7mabove the sector's middle half▼ 2.6%€84.1mabove the sector's middle half▲ 17.2%€80.1mabove the sector's middle half▼ 4.7%€86.5mabove the sector's middle half▲ 7.9%€86.2m▼ 0.3%
Debt€51.8m▼ 5.1%€66.0m▲ 27.4%€41.9m▼ 36.5%€45.5m▲ 8.4%€42.9m▼ 5.7%
Working capital€13.7mabove the sector's middle half▲ 2.0%€12.5mabove the sector's middle half▼ 8.7%€19.3mabove the sector's middle half▲ 54.3%€19.5mabove the sector's middle half▲ 1.0%€17.6m▼ 9.9%
Solvency27.7%within the sector's middle half▲ 1.9pp21.5%within the sector's middle half▼ 6.3pp47.7%within the sector's middle half▲ 26.2pp47.2%within the sector's middle half▼ 0.5pp50.3%▲ 3.1pp
Current ratio1.70within the sector's middle half▲ 0.081.36within the sector's middle half▼ 0.341.74within the sector's middle half▲ 0.381.66within the sector's middle half▼ 0.091.54▼ 0.12
Return on assets (ROA)1.2%within the sector's middle half▼ 0.2pp2.6%within the sector's middle half▲ 1.4pp15.7%above the sector's middle half▲ 13.1pp7.9%within the sector's middle half▼ 7.8pp9.6%▲ 1.7pp
Staff (FTE)297.2above the sector's middle half▲ 3.0%300.3above the sector's middle half▲ 1.0%312.8above the sector's middle half▲ 4.2%357.5above the sector's middle half▲ 14.3%368.1▲ 3.0%
above within below the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€5.0m€0€5.0m€10.0m€15.0mOperating result 2022: -€246,653-€246,653Net result 2022: €866,996€866,996Operating result 2023: €480,668€480,668Net result 2023: €2.2m€2.2mOperating result 2024: €5.2m€5.2mNet result 2024: €12.6m€12.6mOperating result 2025: €4.5m€4.5mNet result 2025: €6.8m€6.8mOperating result 2026: €8.3m€8.3mNet result 2026: €8.2m€8.2m20222023202420252026€0€5m€10m€15mOperating result 2024: €5.2m€5.2mNet result 2024: €12.6m€13mOperating result 2025: €4.5m€4.5mNet result 2025: €6.8m€6.8mOperating result 2026: €8.3m€8.3mNet result 2026: €8.2m€8.2m202420252026
The operating result recovers in 2026; 2026 is 86% above 2025 and is the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €86.2m
Fixed assets €35.8m ▼ 3.9%
Current assets €50.4m ▲ 2.4%
Equity and liabilities €86.2m
Equity €43.3m ▲ 6.2%
Provisions €0 ▼ 100%
Debt €42.9m ▼ 5.7%
Debt's share of the balance-sheet total falls from 52.6% to 49.7%. Equity is higher and debt is lower.
Key figures and ratios
2026 value · change against 2025
EBITDA
€13.8m▲
2025 · €9.0m
Cash flow
€13.7m▲
2025 · €11.3m
Quick ratio
1.28▼
2025 · 1.38
Debt to equity
0.99▼
2025 · 1.11
ROE
19.0%▲
2025 · 16.7%
Interest coverage
25.72▲
2025 · 14.79
Debt ≤ 1 year
€32.8m▲
2025 · €29.7m
Debt > 1 year
€0▼
2025 · €6.0m
Income taxes
€1.7m▲
2025 · €1.1m
Staff costs
€36.1m▲
2025 · €32.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 321 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 98% are still going.

  • Large
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0% went bankrupt
2.5% stopped otherwise
98% still going

For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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 321 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2026 against 2025 · 89 lines
Balance sheet Code20252026
Assets
Total assets20/58€86.5m€86.2m▼
Fixed assets21/28€37.3m€35.8m▼
Intangible fixed assets21€1.7m€2.0m▲
Tangible fixed assets22/27€18.9m€17.6m▼
Land and buildings22€2.2m€2.8m▲
Plant, machinery and equipment23€6.9m€6.2m▼
Furniture and vehicles24€399,744€388,638▼
Other tangible fixed assets26€9.5m€8.2m▼
Assets under construction and advance payments27€0€89,500▲
Financial fixed assets28€16.7m€16.2m▼
Affiliated companies280/1€16.6m€16.2m▼
Participating interests280€13.8m€14.1m▲
Amounts receivable281€2.9m€2.1m▼
Other financial fixed assets284/8€26,973€0▼
Amounts receivable and cash guarantees285/8€26,973€0▼
Current assets29/58€49.2m€50.4m▲
Stocks and contracts in progress3€8.0m€8.2m▲
Stocks30/36€8.0m€8.2m▲
Goods purchased for resale34€7.3m€8.2m▲
Advance payments36€697,481€16,356▼
Amounts receivable within one year40/41€31.1m€27.6m▼
Trade receivables40€30.5m€27.0m▼
Other amounts receivable41€613,304€549,650▼
Cash at bank and in hand54/58€3.5m€7.0m▲
Deferred charges and accrued income490/1€6.5m€7.5m▲
Equity and liabilities
Total equity and liabilities10/49€86.5m€86.2m▼
Equity10/15€40.8m€43.3m▲
Contributions10/11€18.4m€18.4m=
Capital10€18.4m€18.4m=
Issued capital100€18.4m€18.4m=
Reserves13€2.3m€2.6m▲
Non-distributable reserves130/1€1.6m€1.8m▲
Legal reserve130€1.6m€1.8m▲
Tax-exempt reserves132€6,352€6,352=
Distributable reserves133€718,891€718,891=
Profit (loss) carried forward14€20.0m€22.3m▲
Provisions and deferred taxes16€190,000€0▼
Provisions for liabilities and charges160/5€190,000€0▼
Other liabilities and charges164/5€190,000€0▼
Amounts payable17/49€45.5m€42.9m▼
Amounts payable after more than one year17€6.0m€0▼
Financial debts170/4€6.0m€0▼
Other loans174€6.0m€0▼
Amounts payable within one year42/48€29.7m€32.8m▲
Trade debts44€11.2m€13.2m▲
Suppliers440/4€11.2m€13.2m▲
Advances received on contracts in progress46€4.4m€3.5m▼
Taxes, remuneration and social security45€8.6m€8.9m▲
Taxes450/3€1.8m€1.2m▼
Remuneration and social security454/9€6.8m€7.7m▲
Other amounts payable47/48€5.6m€7.3m▲
Accrued charges and deferred income492/3€9.7m€10.0m▲
Income statement Code20252026
Operating income70/76A€108.2m€117.2m▲
Turnover70€106.5m€115.0m▲
Other operating income74€1.7m€2.2m▲
Non-recurring operating income76A€0-
Operating charges60/66A€103.7m€108.9m▲
Goods for resale, raw materials and consumables60€47.5m€47.8m▲
Purchases600/8€47.8m€48.0m▲
Change in stocks: decrease (increase)609-€272,006-€198,306▲
Services and other goods61€18.8m€19.5m▲
Remuneration, social security and pensions62€32.4m€36.1m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4.5m€5.5m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€236,900€40,909▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€190,000-€190,000▼
Other operating charges640/8€23,396€117,632▲
Operating profit (loss)9901€4.5m€8.3m▲
Financial income75/76B€4.1m€2.8m▼
Recurring financial income75€4.1m€2.8m▼
Income from financial fixed assets750€3.9m€2.7m▼
Other financial income752/9€148,643€172,598▲
Financial charges65/66B€709,940€1.2m▲
Recurring financial charges65€709,940€661,186▼
Debt charges650€608,199€536,736▼
Other financial charges652/9€101,741€124,450▲
Non-recurring financial charges66B-€504,204
Profit (loss) for the period before taxes9903€7.9m€10.0m▲
Income taxes67/77€1.1m€1.7m▲
Taxes670/3€1.1m€1.8m▲
Tax adjustments and reversals of tax provisions77€0€44,999▲
Profit (loss) for the period9904€6.8m€8.2m▲
Profit (loss) for the period to be appropriated9905€6.8m€8.2m▲
Appropriation of the result
Profit (loss) to be appropriated9906€24.5m€28.2m▲
Profit (loss) brought forward from the previous period14P€17.7m€20.0m▲
Transfer to equity691/2€339,887€231,657▼
To the legal reserve6920€339,887€231,657▼
Profit to be distributed694/7€4.2m€5.7m▲
Return on contributions (dividend)694€4.2m€5.7m▲
Social balance
Average headcount (FTE)9087357.5368.1▲

The notes to these accounts (80 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20222023202420252026Change
Operating income70/76A€76.4m€87.7m€102.3m€108.2m€117.2m▲ 8.3%
Turnover70€74.3m€86.1m€100.8m€106.5m€115.0m▲ 8.0%
Own construction capitalised72€835,928€0----
Other operating income74€1.3m€1.6m€1.5m€1.7m€2.2m▲ 32.0%
Non-recurring operating income76A€3,183€29,000€3,024€0--
Operating charges60/66A€76.6m€87.2m€97.1m€103.7m€108.9m▲ 5.0%
Goods for resale, raw materials and consumables60€36.0m€41.6m€47.9m€47.5m€47.8m▲ 0.6%
Purchases600/8€35.6m€45.8m€46.8m€47.8m€48.0m▲ 0.4%
Change in stocks: decrease (increase)609€458,511-€4.2m€1.1m-€272,006-€198,306▲ 27.1%
Services and other goods61€11.8m€13.7m€15.5m€18.8m€19.5m▲ 3.7%
Remuneration, social security and pensions62€23.7m€26.2m€28.2m€32.4m€36.1m▲ 11.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4.8m€5.5m€5.3m€4.5m€5.5m▲ 21.1%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€211,515€129,793€185,024€236,900€40,909▼ 82.7%
Provisions for liabilities and charges: additions (uses and reversals)635/8---€190,000-€190,000▼ 200%
Other operating charges640/8€18,249€12,963€50,863€23,396€117,632▲ 403%
Non-recurring operating charges66A€2,644€0€28---
Operating profit (loss)9901-€246,653€480,668€5.2m€4.5m€8.3m▲ 86.5%
Financial income75/76B€1.7m€3.9m€9.6m€4.1m€2.8m▼ 31.0%
Recurring financial income75€1.7m€3.2m€9.6m€4.1m€2.8m▼ 31.0%
Income from financial fixed assets750€1.4m€3.2m€9.5m€3.9m€2.7m▼ 32.8%
Other financial income752/9€296,346€28,983€146,884€148,643€172,598▲ 16.1%
Non-recurring financial income76B-€627,295----
Financial charges65/66B€462,674€1.8m€1.0m€709,940€1.2m▲ 64.2%
Recurring financial charges65€462,674€1.8m€1.0m€709,940€661,186▼ 6.9%
Debt charges650€298,094€877,232€802,464€608,199€536,736▼ 11.7%
Other financial charges652/9€164,580€952,852€241,748€101,741€124,450▲ 22.3%
Non-recurring financial charges66B----€504,204-
Profit (loss) for the period before taxes9903€952,383€2.5m€13.7m€7.9m€10.0m▲ 27.1%
Income taxes67/77€85,387€343,180€1.2m€1.1m€1.7m▲ 65.9%
Taxes670/3€85,387€343,180€1.2m€1.1m€1.8m▲ 70.1%
Tax adjustments and reversals of tax provisions77--€43,686€0€44,999-
Profit (loss) for the period9904€866,996€2.2m€12.6m€6.8m€8.2m▲ 21.1%
Profit (loss) for the period to be appropriated9905€866,996€2.2m€12.6m€6.8m€8.2m▲ 21.1%
Line20222023202420252026Change
Assets
Total assets20/58€71.7m€84.1m€80.1m€86.5m€86.2m▼ 0.3%
Fixed assets21/28€38.6m€36.9m€34.9m€37.3m€35.8m▼ 3.9%
Intangible fixed assets21€3.3m€2.2m€1.5m€1.7m€2.0m▲ 19.2%
Tangible fixed assets22/27€17.0m€16.9m€16.7m€18.9m€17.6m▼ 6.8%
Land and buildings22€770,147€741,409€712,670€2.2m€2.8m▲ 26.6%
Plant, machinery and equipment23€7.0m€6.6m€4.8m€6.9m€6.2m▼ 9.2%
Furniture and vehicles24€218,628€300,589€364,715€399,744€388,638▼ 2.8%
Leasing and similar rights25--€0---
Other tangible fixed assets26€8.9m€9.3m€9.7m€9.5m€8.2m▼ 14.0%
Assets under construction and advance payments27€101,368€0€1.1m€0€89,500-
Financial fixed assets28€18.3m€17.8m€16.7m€16.7m€16.2m▼ 2.8%
Affiliated companies280/1€18.2m€17.8m€16.6m€16.6m€16.2m▼ 2.6%
Participating interests280€14.7m€14.6m€13.8m€13.8m€14.1m▲ 2.7%
Amounts receivable281€3.5m€3.1m€2.9m€2.9m€2.1m▼ 27.8%
Other financial fixed assets284/8€26,973€28,449€28,449€26,973€0▼ 100%
Amounts receivable and cash guarantees285/8€26,973€28,449€28,449€26,973€0▼ 100%
Current assets29/58€33.1m€47.2m€45.2m€49.2m€50.4m▲ 2.4%
Stocks and contracts in progress3€5.2m€9.3m€8.0m€8.0m€8.2m▲ 2.4%
Stocks30/36€5.2m€9.3m€8.0m€8.0m€8.2m▲ 2.4%
Goods purchased for resale34€5.2m€9.3m€8.0m€7.3m€8.2m▲ 11.9%
Advance payments36-€13,240-€697,481€16,356▼ 97.7%
Amounts receivable within one year40/41€20.2m€27.7m€26.5m€31.1m€27.6m▼ 11.3%
Trade receivables40€19.0m€27.0m€25.6m€30.5m€27.0m▼ 11.4%
Other amounts receivable41€1.1m€728,711€866,024€613,304€549,650▼ 10.4%
Cash at bank and in hand54/58€3.0m€4.7m€4.9m€3.5m€7.0m▲ 98.3%
Deferred charges and accrued income490/1€4.8m€5.5m€5.8m€6.5m€7.5m▲ 15.9%
Equity and liabilities
Total equity and liabilities10/49€71.7m€84.1m€80.1m€86.5m€86.2m▼ 0.3%
Equity10/15€19.9m€18.0m€38.2m€40.8m€43.3m▲ 6.2%
Contributions10/11€6.4m€6.4m€18.4m€18.4m€18.4m=
Capital10€6.4m€6.4m€18.4m€18.4m€18.4m=
Issued capital100€6.4m€6.4m€18.4m€18.4m€18.4m=
Reserves13€1.4m€1.4m€2.0m€2.3m€2.6m▲ 9.9%
Non-distributable reserves130/1€644,885€644,885€1.3m€1.6m€1.8m▲ 14.4%
Legal reserve130€644,885€644,885€1.3m€1.6m€1.8m▲ 14.4%
Tax-exempt reserves132€6,352€6,352€6,352€6,352€6,352=
Distributable reserves133€718,891€718,891€718,891€718,891€718,891=
Profit (loss) carried forward14€12.1m€10.2m€17.7m€20.0m€22.3m▲ 11.5%
Provisions and deferred taxes16---€190,000€0▼ 100%
Provisions for liabilities and charges160/5---€190,000€0▼ 100%
Other liabilities and charges164/5---€190,000€0▼ 100%
Amounts payable17/49€51.8m€66.0m€41.9m€45.5m€42.9m▼ 5.7%
Amounts payable after more than one year17€24.7m€22.0m€6.0m€6.0m€0▼ 100%
Financial debts170/4€24.7m€22.0m€6.0m€6.0m€0▼ 100%
Other loans174€24.7m€22.0m€6.0m€6.0m€0▼ 100%
Amounts payable within one year42/48€19.5m€34.7m€25.9m€29.7m€32.8m▲ 10.4%
Trade debts44€11.7m€14.8m€11.4m€11.2m€13.2m▲ 18.2%
Suppliers440/4€11.7m€14.8m€11.4m€11.2m€13.2m▲ 18.2%
Advances received on contracts in progress46€1.0m€8.1m€1.9m€4.4m€3.5m▼ 20.7%
Taxes, remuneration and social security45€5.9m€6.9m€7.0m€8.6m€8.9m▲ 3.1%
Taxes450/3€944,858€1.1m€1.1m€1.8m€1.2m▼ 33.9%
Remuneration and social security454/9€4.9m€5.9m€6.0m€6.8m€7.7m▲ 12.6%
Other amounts payable47/48€883,810€4.8m€5.6m€5.6m€7.3m▲ 30.1%
Accrued charges and deferred income492/3€7.7m€9.3m€10.0m€9.7m€10.0m▲ 3.2%
Line20222023202420252026Change
Profit (loss) for the period9904€866,996€2.2m€12.6m€6.8m€8.2m▲ 21.1%
+ Depreciation and write-downs630€4.8m€5.5m€5.3m€4.5m€5.5m▲ 21.1%
Operating cash flow (approximation)€5.7m€7.6m€17.8m€11.3m€13.7m▲ 21.1%
Investment in fixed assets (approximation)--€3.7m-€3.3m-€6.9m-€4.0m▲ 41.5%
Change in cash-€1.7m€214,546-€1.4m€3.5m▲ 344%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2027, expected by 31-10-2027
2026
20-08
State Gazette act Resignations: Pierre Lambert, Satoshi Mizobata and Zetes Industries SA
Appointments: Bart Crols (director) and Ronny Depoortere (managing director)10 facts ▸
  • Board meeting, 01-06-2026
  • Director resignation, Pierre Lambert (managing director)
  • Director resignation, Satoshi Mizobata (director)
  • Director resignation, Zetes Industries SA (director)
  • Director appointment, Bart Crols (director)
  • Director resignation, Pierre Lambert (managing director)
  • Director appointment, Bart Crols (managing director)
  • General meeting, 16-06-2026
  • Director appointment, Ronny Depoortere (managing director)
  • Director appointment, Bart Crols (managing director)
13-07
NBB filing Annual accounts filed
fiscal year 2026 · full schema
2025
21-09
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2024
07-08
NBB filing Annual accounts filed
fiscal year 2024 · full schema
31-03
Financial Highest result since 2019net €12.6m ▲480%
Net result €12.6m, the highest in the series.
31-03
Financial Equity above €25mEq €38.2m ▲111%
4 profitable years in a row build equity to €38.2m.
2023
30-08
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2022
10-08
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2021
19-07
NBB filing Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial Back to profitnet €1.1m
Net result €1.1m after one loss-making year.
31-03
Financial Liquidity doublescurrent ratio 1.63
Current ratio from 0.75 to 1.63; short-term debt falls from €51.7m to €21.5m.
2020
27-07
NBB filing Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
31-03
Financial Weakest financial yearnet -€1.0m
Net result drops to -€1.0m, the lowest in the series; recovery starts the following year.
2019
10-07
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2018
09-07
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2017
21-06
NBB filing Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 23 acts read
About the unread acts

Of the 23 Belgian State Gazette acts we know for this company, 1 has been read. The other 22 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, 2 in day-to-day management, last change in 2026

Board 1

Bart Crols
Director · since 20-08-2026
Current

Day-to-day management 2

Bart Crols
Managing director · since 01-04-2026
Current
Ronny Depoortere
Managing director · since 20-08-2026
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
22 of this company's 23 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, Brussel · 3 establishment units since 1971
seat establishment All 3 establishment units on the map
Ground area
1.8 ha
Building footprint
6,013 m²
Volume, LiDAR
39,570 m³
3 parcels, Brussels, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
7 companies at this address See who is registered here
3 establishment units
Straatsburgstraat 3, 1130 Brussel
NACE 51384
since 19712.006.856.358
ZETESCARDS
Villalaan 13, 1601 Sint-Pieters-LeeuwNACE 51840
since 20072.164.755.730
Zetes 3i P&Zetes 3i P&
Nijverheidsstraat 72, 2160 WommelgemWholesale trade
since 20092.176.181.835
3 parcels
Flanders 2 (66.7%) Brussels 1 (33.3%)
Parcel (capakey) Region Area Buildings Height / fl.
23069A0354/00T002 Flanders 8,450 m² 1 · 3,116 m² 9.5 m · 2 fl.
21821C0080/00E005 Brussels 7,752 m² 1 · 2,897 m² 10.7 m · 2 fl.
11052C0579/00E002 Flanders 1,951 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.

Mandate history

5 people since 2026, 2 in office
Show
  • Board
  • Day-to-day management
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Bart Crols
  • Managing director, from 01-04-2026 to date
  • Director, from 20-08-2026 to date
Ronny Depoortere
  • Managing director, from 20-08-2026 to date
Zetes Industries SA
  • Director, until 20-08-2026
Pierre Lambert
  • Managing director, until 31-03-2026
Satoshi Mizobata
  • Director, until 31-03-2026
See the board, name and seat on a given date →

Structure & network

Part of the group パナソニックホールディングス株式会社 5 companies Group, risk and exposure

Owners and holdings

1 owner · 11 holdings

Chain of control

  1. PANASONIC HOLDING (NETHERLANDS) B.V.NL consolidated
  2. ZETES INDUSTRIES 100%
  3. ZETES

Highest known parent: PANASONIC HOLDING (NETHERLANDS) B.V. (Netherlands). The sources do not say who stands above it.

Owners 1

Holdings 11

Show 1 more holdings

According to the annual accounts to 31-03-2026 of ZETES and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

2 current directors
Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Subsidies and aid

Flemish government

2022 to 2025 · 3 entries · 15,395 EUR awarded · 15,395 EUR paid
Year Entries awardedpaid
2025 1 0 EUR11,050 EUR
2023 1 4,345 EUR4,345 EUR
2022 1 11,050 EUR0 EUR
Schemes
2 entries · 11,050 EUR · 11,050 EUR paid · Vlaams Energie- en Klimaatagentschap
1 entry · 4,345 EUR · 4,345 EUR paid · Departement Werk en Sociale Economie

European Union, budget

2024 · 3 entries · 310,200 EUR in total
Year Entries awarded
2024 3 310,200 EUR
Projects
BADGES FOR ACCESS CONTROL
Security · 28-11-2024 to 31-03-2025 · 242,200 EUR
SUPPLIES - PRINTERS
Security · 03-10-2024 to 31-12-2024 · 42,000 EUR
LANIÈRES ET PORTES BADGES
Security · 16-01-2024 to 03-05-2024 · 26,000 EUR

Similar companies · same sector, comparable size

Of 2,119 companies in this sector we hold annual accounts for 1,410. 100 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPublic limited company
Founded03-08-1971
Fiscal year end31-03
Activities, NACEBEL 2025
46500Wholesale of information and communication equipment
18120Other printing
28990Manufacture of machinery and equipment not elsewhere classified
62100Computer programming
95100Repair and maintenance of computers and communication equipment
E-invoicing
Reachable via Peppol
Peppol ID 0208:0408425626
Also 9925:BE0408425626

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.