ZVANUT
ActiveThe computed 12-month bankruptcy probability of ZVANUT is 2.0% (moderate). The 2024 annual accounts show negative equity (€-94k) and a net result of €-14k. Equity is shrinking by ~71.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 2090 sector peers (fiscal year 2024). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
28
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.22 against 0.29 in 2023; short-term debt: 359.4% and cash: 30.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-263.6%
Return on assets
-40.5%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-94k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
42 d late
2022
31 d late
2021
51 d late
2020
40 d late
2019
31 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
€355k
EBIT margin
11.0%
Net result
€-14k▲ 47.5%
2023 · €-28k
2018: €20k
2019: €-29k
2020: €-23k
2021: €-12k
2022: €-8k
2023: €-28k
2018 → 2024
Working capital
€-100k▼ 17.7%
2023 · €-85k
2018: €-36k
2019: €-23k
2020: €-25k
2021: €-35k
2022: €-42k
2023: €-85k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-11k-€-23k▼ 111%€-32k▼ 35.3%€-80k▼ 151%€-94k▼ 18.1%
Operating result€-21k-€-8k▲ 59.7%€-2k▲ 70.6%€-21k▼ 775%€-9k▲ 59.2%
Net result€-23k-€-12k▲ 46.4%€-8k▲ 32.7%€-28k▼ 232%€-14k▲ 47.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9k in 2024 against €21k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €36k
Fixed assets
€8k▲ 9.2%
Current assets
€28k▼ 20.4%
Key figures and ratios
EBITDA
€-3k▲
2023 · €-13k
Cash flow
€-9k▲
2023 · €-20k
Solvency
-263.6%▼
2023 · -188.7%
Current ratio
0.22▼
2023 · 0.29
Quick ratio
0.20▼
2023 · 0.24
Debt / equity
-1.38▲
2023 · -1.53
ROA
-40.5%▲
2023 · -65.1%
Interest coverage
-0.60▲
2023 · -2.18
Debt
€130k▲
2023 · €122k
Debt ≤ 1 year
€128k▲
2023 · €120k
Income taxes
€139▲
2023 · €123
Staff costs
€81k▲
2023 · €73k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€42k€36k▼
Fixed assets21/28€7k€8k▲
Tangible fixed assets22/27€7k€8k▲
Plant, machinery and equipment23€4k€7k▲
Furniture and vehicles24€3k€508▼
Current assets29/58€35k€28k▼
Stocks and contracts in progress3€6k€2k▼
Stocks30/36€6k€2k▼
Amounts receivable within one year40/41€18k€15k▼
Trade receivables40€6k€2k▼
Other amounts receivable41€12k€13k▲
Cash at bank and in hand54/58€10k€11k▲
Deferred charges and accrued income490/1€1k-
Equity and liabilities
Total equity and liabilities10/49€42k€36k▼
Equity10/15€-80k€-94k▼
Contributions10/11€19k€19k=
Reserves13€19k€19k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€17k€17k=
Profit (loss) carried forward14€-117k€-132k▼
Amounts payable17/49€122k€130k▲
Amounts payable within one year42/48€120k€128k▲
Current portion of amounts payable after more than one year42€4k-
Trade debts44€23k€31k▲
Suppliers440/4€23k€31k▲
Taxes, remuneration and social security45€11k€12k▲
Taxes450/3€2k€4k▲
Remuneration and social security454/9€9k€8k▼
Other amounts payable47/48€82k€85k▲
Accrued charges and deferred income492/3€2k€2k=
Income statement
Code20232024
Remuneration, social security and pensions62€73k€81k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€5k▼
Other operating charges640/8€2k€689▼
Gross operating margin9900€62k€78k▲
Operating profit (loss)9901€-21k€-9k▲
Financial income75/76B€10€44▲
Recurring financial income75€10€44▲
Financial charges65/66B€6k€6k▼
Recurring financial charges65€6k€6k▼
Profit (loss) for the period before taxes9903€-27k€-14k▲
Income taxes67/77€123€139▲
Profit (loss) for the period9904€-28k€-14k▲
Profit (loss) for the period to be appropriated9905€-28k€-14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-117k€-132k▼
Profit (loss) brought forward from the previous period14P€-90k€-117k▼
Transfer from equity791/2€20k-
Profit to be distributed694/7€20k-
Return on contributions (dividend)694€20k-
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
11-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 42 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 51 days late
2021
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 40 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Weakest financial yearnet €-29k ▼244%
Net result drops to €-29k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
20-06
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.
Directors · office · real estate
Directors
3 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, Kalmthout · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kapellensteenweg (Dp) 2172920 KalmthoutGround area
199 m²
Building footprint
195 m²
Volume, LiDAR
1,145 m³
Parcel 11022G0470/00L000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Duchesne Brood en Banket
since 20152.243.493.402
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11022G0470/00L000 | Flanders | 199 m² | 1 · 195 m² | 10.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKalmthout2.243.493.402
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ONUR
BE 0463.550.924
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TROY
BE 0808.691.077
Wuustwezel · Eq €12k
BOULANGERIE ELISABETH
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Schaarbeek · Eq €12k
Of 4,227 companies in sector 10712 we hold annual accounts for 1,871. 1,011 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-07-2015
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
10720Manufacture of food products
47241Retail sale of bread and pastry (bakery outlets)
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.