CLADDING
ActiveSummary
CLADDING has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €570k and a net result of €279k. Equity remains stable across the filed fiscal years (±2% per year). Its solvency ranks better than 45% of 1034 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▼-6
Solvency67▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 1.55 in 2024; short-term debt: 57.9% and cash: 28.7% of total assets), but 58.4% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
41.6%
Return on assets
20.3%
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
1819202122232425
2018 to 2025 · latest year €570k
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 26-06-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
27 d late
2023
7 d late
2022
24 d early
2021
39 d early
2020
5 d early
2019
13 d late
← 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
History
Financials · fiscal year 2025, abbreviated schema
Equity
€570k▲ 5.3%
2024 · €541k
Total assets
€1.37M▼ 3.2%
2024 · €1.42M
Net result
€279k▼ 48.7%
2024 · €543k
Working capital
€507k▲ 7.6%
2024 · €471k
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€12k▼ 86.1%€286k▲ 2,191%€376k▲ 31.4%€559k▲ 48.7%€292k▼ 47.8%
Net result€6k▼ 92.0%€276k▲ 4,404%€365k▲ 32.2%€543k▲ 48.6%€279k▼ 48.7%
Equity€447k▼ 17.4%€483k▲ 8.1%€508k▲ 5.2%€541k▲ 6.5%€570k▲ 5.3%
Total assets€859k▼ 9.8%€1.35M▲ 57.4%€1.31M▼ 2.9%€1.42M▲ 8.0%€1.37M▼ 3.2%
Debt€412k▲ 0.2%€869k▲ 111%€804k▼ 7.5%€876k▲ 9.0%€802k▼ 8.5%
Working capital€428k▼ 20.1%€476k▲ 11.1%€476k▲ 0.1%€471k▼ 1.0%€507k▲ 7.6%
Staff (FTE)10.1▼ 3.8%8.8▼ 12.9%9.8▲ 11.4%10▲ 2.0%10.5▲ 5.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 48% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.37M
Fixed assets
€70k ▼ 13.9%
Current assets
€1.30M ▼ 2.6%
Equity and liabilities €1.37M
Equity
€570k ▲ 5.3%
Debt
€802k ▼ 8.5%
Debt's share of the balance-sheet total falls from 61.8% to 58.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€342k▼
2024 · €599k
Cash flow
€329k▼
2024 · €583k
Current ratio
1.64▲
2024 · 1.55
Quick ratio
1.58▲
2024 · 1.46
Debt to equity
1.41▼
2024 · 1.62
ROE
48.9%▼
2024 · 100.3%
ROA
20.3%▼
2024 · 38.3%
Interest coverage
95.05▼
2024 · 129.50
Debt ≤ 1 year
€794k▼
2024 · €864k
Income taxes
€10k▼
2024 · €12k
Staff costs
€579k▲
2024 · €493k
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 | - | €387 | €7k | - | €14k | - |
| Remuneration, social security and pensions62 | €468k | €432k | €544k | €493k | €579k | ▲ 17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €17k | €42k | €40k | €51k | ▲ 25.0% |
| Other operating charges640/8 | €8k | €6k | €5k | €6k | €3k | ▼ 48.9% |
| Non-recurring operating charges66A | - | - | €4k | - | €369 | - |
| Gross operating margin9900 | €502k | €742k | €971k | €1.10M | €925k | ▼ 15.8% |
| Operating profit (loss)9901 | €12k | €286k | €376k | €559k | €292k | ▼ 47.8% |
| Financial income75/76B | €0 | €1 | €5k | €796 | €959 | ▲ 20.5% |
| Recurring financial income75 | €0 | €1 | €2k | €796 | €959 | ▲ 20.5% |
| Non-recurring financial income76B | - | - | €3k | - | - | - |
| Financial charges65/66B | €1k | €2k | €4k | €5k | €4k | ▼ 22.2% |
| Recurring financial charges65 | €1k | €2k | €4k | €5k | €4k | ▼ 22.2% |
| Profit (loss) for the period before taxes9903 | €11k | €284k | €376k | €555k | €289k | ▼ 47.9% |
| Income taxes67/77 | €5k | €7k | €11k | €12k | €10k | ▼ 14.3% |
| Profit (loss) for the period9904 | €6k | €276k | €365k | €543k | €279k | ▼ 48.7% |
| Profit (loss) for the period to be appropriated9905 | €6k | €276k | €365k | €543k | €279k | ▼ 48.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €859k | €1.35M | €1.31M | €1.42M | €1.37M | ▼ 3.2% |
| Fixed assets21/28 | €31k | €101k | €69k | €82k | €70k | ▼ 13.9% |
| Tangible fixed assets22/27 | €24k | €94k | €62k | €74k | €63k | ▼ 15.3% |
| Plant, machinery and equipment23 | €12k | €15k | €11k | €14k | €29k | ▲ 101% |
| Furniture and vehicles24 | €12k | €79k | €51k | €60k | €34k | ▼ 43.3% |
| Financial fixed assets28 | €8k | €8k | €8k | €8k | €8k | = |
| Current assets29/58 | €828k | €1.25M | €1.24M | €1.34M | €1.30M | ▼ 2.6% |
| Stocks and contracts in progress3 | €83k | €81k | €158k | €74k | €49k | ▼ 34.3% |
| Stocks30/36 | €83k | €61k | €64k | €48k | €40k | ▼ 16.8% |
| Contracts in progress37 | - | €21k | €95k | €26k | €9k | ▼ 67.0% |
| Amounts receivable within one year40/41 | €383k | €720k | €662k | €595k | €854k | ▲ 43.6% |
| Trade receivables40 | €327k | €667k | €624k | €549k | €812k | ▲ 48.0% |
| Other amounts receivable41 | €56k | €54k | €38k | €46k | €42k | ▼ 8.6% |
| Cash at bank and in hand54/58 | €352k | €441k | €417k | €663k | €393k | ▼ 40.7% |
| Deferred charges and accrued income490/1 | €10k | €8k | €6k | €4k | €5k | ▲ 44.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €859k | €1.35M | €1.31M | €1.42M | €1.37M | ▼ 3.2% |
| Equity10/15 | €447k | €483k | €508k | €541k | €570k | ▲ 5.3% |
| Contributions10/11 | €224k | €224k | €224k | €224k | €224k | = |
| Reserves13 | €76k | €76k | €76k | €76k | €76k | = |
| Distributable reserves133 | €76k | €76k | €76k | €76k | €76k | = |
| Profit (loss) carried forward14 | €146k | €182k | €208k | €241k | €269k | ▲ 11.9% |
| Amounts payable17/49 | €412k | €869k | €804k | €876k | €802k | ▼ 8.5% |
| Amounts payable after more than one year17 | - | €45k | €22k | - | - | - |
| Financial debts170/4 | - | €45k | €22k | - | - | - |
| Amounts payable within one year42/48 | €399k | €774k | €767k | €864k | €794k | ▼ 8.1% |
| Current portion of amounts payable after more than one year42 | €2k | €23k | €23k | €22k | - | - |
| Trade debts44 | €331k | €463k | €340k | €282k | €466k | ▲ 65.2% |
| Suppliers440/4 | €331k | €463k | €340k | €282k | €466k | ▲ 65.2% |
| Advances received on contracts in progress46 | €387 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €66k | €48k | €64k | €44k | €78k | ▲ 75.7% |
| Taxes450/3 | €23k | €11k | €6k | €8k | €11k | ▲ 33.9% |
| Remuneration and social security454/9 | €43k | €38k | €57k | €37k | €68k | ▲ 84.8% |
| Other amounts payable47/48 | - | €240k | €340k | €515k | €250k | ▼ 51.5% |
| Accrued charges and deferred income492/3 | €13k | €49k | €15k | €12k | €7k | ▼ 37.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €276k | €365k | €543k | €279k | ▼ 48.7% |
| + Depreciation and write-downs630 | €13k | €17k | €42k | €40k | €51k | ▲ 25.0% |
| Operating cash flow (approximation) | €19k | €294k | €408k | €583k | €329k | ▼ 43.5% |
| Investment in fixed assets (approximation) | - | €-87k | €-10k | €-53k | €-39k | ▲ 25.8% |
| Change in cash | - | €88k | €-24k | €247k | €-270k | ▼ 209% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
31-12
Financial
Highest result since 2018net €543k ▲48.6%
Operating result €559k, net result €543k, both a record.
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 7 days late
2023
31-12
Financial
Equity above €500kEq €508k ▲5.2%
6 profitable years in a row build equity to €508k.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €6k ▼92%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 13 days late
2019
31-12
Financial
Equity above €500kEq €514k ▲5%
2 profitable years in a row build equity to €514k.
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
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.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
11 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, Peer · 1 establishment unit since 1987
Ground area
2,246 m²
Building footprint
601 m²
Parcel 72030A0896/00L003, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Keitelweg 2119, 3990 Peer
since 19872.029.808.835
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72030A0896/00L003 | Flanders | 2,246 m² | 1 · 601 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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
2022 to 2024 · 3 entries · 1,696 EUR awarded · 1,623 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 318 EUR | 318 EUR |
| 2023 | 1 | 1,330 EUR | 1,257 EUR |
| 2022 | 1 | 48 EUR | 48 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
5 categoriesCLADDING BV44186
Similar companies · same sector, comparable size
DELMAR
BE 0818.211.529
Comines-Warneton · Eq €570,199
GRYTEC
BE 0543.721.127
Damme · Eq €569,687
Constructie De Greyt
BE 0807.740.477
Lokeren · Eq €570,463
METAALCONSTRUCTIE LEURIDAN
BE 0478.312.245
Wingene · Eq €566,961
KS-CONSTRUCT
BE 0472.915.085
Maaseik · Eq €573,229
Of 3,983 companies in sector 25110 we hold annual accounts for 2,145. 1,532 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
Founded30-07-1987
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.