Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of ANETH is 0.4% (very low). The 2024 annual accounts show negative equity (€-452k) and a net result of €-118k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 12% of 197 sector peers (fiscal year 2024). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.4%
Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Annual accounts: weaker financial profile
+Long track record
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Trust signals
2 signalsEstablished
Founded in 2006, 19 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
Turnover€240k-2.9%
EBIT margin-23.7%+24.0pp
Net result€-118k+33.3%
Working capital€-4.22M-4.8%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 14-07-2025 with the NBB · fiscal year 2024 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~67% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 82 · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -8.1% | 32.0% | |
| Net result | €-118k | €25k | |
| Equity | €-452k | €120k | |
| Staff costs | €63k | €209k | |
| Employees (FTE) | 0.8 | 3.1 |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P12
Stable position over 2020-2024
· n=92-197
P10
Stable position over 2020-2024
· n=92-197
P5
Weakening position over 2020-2024
· n=92-197
P25
Stable position over 2021-2024
· n=63-101
Describes the position versus peers, not a forecast.
€240k
-2.9%
far above sector median
€138k
+83.3%
far above sector median
€-118k
+33.3%
far below sector median
€77k
+370.5%
far above sector median
€5.58M
-2.8%
far above sector median
€-452k
-35.2%
far below sector median
€-4.22M
-4.8%
far below sector median
1
0.0%
-97% vs sector
€63k
0.0%
-94% vs sector
€24k
-6.3%
far above sector median
€6.04M
-0.7%
far above sector median
€4.30M
+3.7%
far above sector median
€1.74M
-10.2%
far above sector median
0.02
-36.1%
-99% vs sector
0.02
-36.1%
-98% vs sector
-8.1%
-39.2%
far below sector median
-13.35
+26.6%
far below sector median
26.0%
-50.7%
far above sector median
-2.1%
+31.4%
+69% vs sector
-49.0%
+31.3%
far below sector median
57.3%
+88.8%
18-24
3.73
+65.1%
+107% vs sector
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Revenue | €240k |
| EBITDA | €138k |
| Net profit | €-118k |
| Cash flow | €77k |
| Staff costs | €63k |
| Income taxes | €24k |
| Dividends | - |
| Total assets | €5.58M |
| Equity | €-452k |
| Debt | €6.04M |
| of which ≤ 1y | €4.30M |
| of which > 1y | €1.74M |
| Working capital | €-4.22M |
| Employees (FTE) | 0.8 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.02 |
| Quick ratio | 0.02 |
| Working capital ratio | -75.6% |
| Solvency | -8.1% |
| Debt / equity | -13.35 |
| Long-term debt ratio | -3.84 |
| Interest coverage | 3.73 |
| Gross margin | - |
| Net margin | -49.0% |
| ROA | -2.1% |
| ROE | 26.0% |
| EBITDA margin | 57.3% |
| Days sales outstanding | 40d |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €5.58M |
| Fixed assets | 21/28 | €5.50M |
| Tangible fixed assets | 22/27 | €5.50M |
| Financial fixed assets | 28 | €3k |
| Current assets | 29/58 | €79k |
| Stocks & contracts in progress | 3 | €0 |
| Amounts receivable within one year | 40/41 | €57k |
| Cash & bank | 54/58 | €19k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €5.58M |
| Equity | 10/15 | €-452k |
| Contributions / capital | 10/11 | €7k |
| Reserves | 13 | €2k |
| Accumulated profits (losses) | 14 | €-460k |
| Amounts payable | 17/49 | €6.04M |
| Amounts payable after one year | 17 | €1.74M |
| Amounts payable within one year | 42/48 | €4.30M |
| Trade debts payable within one year | 44 | €45k |
| Income statement | ||
| Turnover | 70 | €240k |
| Operating result | 9901 | €-57k |
| Financial income | 75 | €794 |
| Financial charges | 65 | €38k |
| Result before taxes | 9903 | €-94k |
| Income taxes | 67/77 | €24k |
| Net result for the period | 9904 | €-118k |
| Result to be appropriated | 9905 | €-118k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed41
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
3 directorsCurrent directors & mandates
-
WALK WITH USLegal entityDirector· perm. rep.: SANDERS AndresState Gazette act 26016374 (02-02-2026)Current03-11-2025 → present
Former directors (2)
-
Former- → 03-11-2025
-
Former20-06-2018 → 19-06-2020
2 events
- 19-06-2020 Resigned· Director
- 20-06-2018 Appointed· Manager
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
1 auditor| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| VRC BEDRIJFSREVISORENCurrent Statutory auditor · represented by Hedwig Vander Donckt |
- | 15-04-2021 → present |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Overige zakelijke dienstverlening, neg(82990) |
| Legal form | Private limited company(610) |
| Incorporation | 04-10-2006 |
| Status | Active |
| Postal code | 8500 |
Structure & network
Connections & network
8 connected companiesGroup structure
Parent · 204 subsidiaries · 2 locations
Control→
Parent · 3 subsidiaries · 1 location
Control→
Network connections
Shared corporate director
→
Shared corporate director
→
Shared address
→
Shared address
→
Shared address
→
Shared address
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
1 locationANETH
since 20062.157.597.130
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area1,264 m²
Buildings1
Building footprint327 m²
Volume (LiDAR)5,049 m³
Tallest building19.9 m · ±6 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34022E0003/00T000 | Flanders | 1,264 m² | 1 · 327 m² | 19.9 m · 6 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
6 acts Address history · 1
05-03-2015
v3.2
All acts · 6
updated 6 months ago
2026
02-02-2026 1 director appointed, 1 resigning
2024
25-01-2024 Publication in the Belgian Official Gazette, Minor change
Summary:
Statutes changeNotary:
Katrien DEVAERE · Kortrijk
2021
15-04-2021 Hedwig Vander Donckt appointed as statutory auditor
2020
17-07-2020 Julie Verscheure resigns as director
2018
22-06-2018 Articles of association amended
Summary:
v3.2
2015
05-03-2015 Registered office moved within Kortrijk
- Minister Vanden Peereboomlaan 68, 8500 Kortrijk → Wolvenstraat 23, 8500 Kortrijk
Summary:
v3.2
Analysis
Snowflake analysis
financial profile on 5 axes54
/ 100
Mixed profile: strong on stability, weaker on growth.
All 5 axes are computed from data Checked has read.
Health
41
Profitability
67
Solvency
33
Growth
31
Stability
100
Ask AI about this company
Checked AISoon: ask questions about this dossier, risks, curator, sector comparison, answered from the official data on this page.
TryWhat are the main risks?Any recent red flags?Compare to sector peers
Coming soonAI due-diligence brief
Checked AIGenerate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
Coming soon
The brief is drafted by our AI model at Anthropic in the US, from this dossier's public data. Nothing that identifies you is sent along and we do not keep the brief. Indicative, not legal or investment advice. How it works
Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Overige zakelijke dienstverlening, n.e.g.74879Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990
Primary activity highlighted.
Names & trade names
| Legal nameNL | ANETH |
Registered office
Hendrik Consciencestraat(Kor) 9 bus 2
8500 Kortrijk, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.