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CRETES

Active
Public limited companyfounded 1972active for 54 yearsBissegemstraat 169, 8560 Wevelgem, BelgiumKBO/BCE: BE 0412.423.610
Summary

CRETES has been active since 1972 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €303,794. Equity remains stable across the filed financial years (±1.2% per year). Its solvency ranks better than 13% of 382 sector peers (NACE 28, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).

Overview

Activity
Manufacture of machinery and equipment not elsewhere classified
NACE 28940Manufacture of machinery and equipment not elsewhere classified NACE 28990
8th oldest company in Wevelgem, Manufacturing sector1 site
Size
€10.3mtotal assets 2025
Staff
26.9 FTE
Equity
€1.5m
Profit
€303,794
Net result +257%: 15-month year
Financial health
63 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
1.2%
Structure
Parent
VALTECH · 100%
Auditor: RSM INTERAUDITAccounts 11 days early4 of 15 deeds read
Why 63raises riskLiquidity: current ratio 1.02, cash €0, halvedEquity €1.5m (14.2% of total assets)Sector: Manufacture of machinery and equipment not elsewhere classified (NACE 28)lowers riskLegal form: public limited companyShow the evidence

Checked score

Score 2025
63 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 23% of its sector peers (NACE 28, small)
Financial strength · tick = 2024
Weak
Solvency 39-4
equity 14.2% of total assets
Liquidity 6-7
short-term debt 81.1% · cash 0.0%
Profitability 72+9
return on assets 3.0%
Bankruptcy probability, 12 months
1.2% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (291 companies, NACE 28, small)
Last 24 months 11-2024: 1.2% 12-2024: 1.3%▲ +0.1 percentage points vs 11-2024 01-2025: 0.9%▼ -0.4 percentage points vs 12-2024lowest value 02-2025: 0.9%● unchanged vs 01-2025lowest value 03-2025: 0.9%● unchanged vs 02-2025lowest value 04-2025: 0.9%● unchanged vs 03-2025lowest value 05-2025: 0.9%● unchanged vs 04-2025lowest value 06-2025: 0.9%● unchanged vs 05-2025lowest value 07-2025: 0.9%● unchanged vs 06-2025lowest value 08-2025: 0.9%● unchanged vs 07-2025lowest value 09-2025: 0.9%● unchanged vs 08-2025lowest value 10-2025: 0.9%● unchanged vs 09-2025lowest value 11-2025: 0.9%● unchanged vs 10-2025lowest value 12-2025: 0.9%● unchanged vs 11-2025 01-2026: 0.9%● unchanged vs 12-2025 02-2026: 0.9%● unchanged vs 01-2026 03-2026: 1.0%▲ +0.1 percentage points vs 02-2026 04-2026: 1.2%▲ +0.2 percentage points vs 03-2026 05-2026: 1.7%▲ +0.5 percentage points vs 04-2026 06-2026: 2.2%▲ +0.5 percentage points vs 05-2026 07-2026: 3.0%▲ +0.8 percentage points vs 06-2026highest value 08-2026: 1.2%▼ -1.8 percentage points vs 07-2026 09-2026: 1.2%● unchanged vs 08-2026 10-2026: 1.2%● unchanged vs 09-2026
Credit of up to €90,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.02, compared with 1.07 in 2024, below the usual 1.5; short-term debt: 81.1% and cash: 0% of total assets), and 85.8% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 28, small): better than 11% on solvency, 3% on liquidity and 56% on profitability.

The bankruptcy probability was computed on 16-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 1.02, cash €0, halved
NBB · annual accounts
raises risk · Equity €1.5m (14.2% of total assets)
NBB · annual accounts
raises risk · Sector: Manufacture of machinery and equipment not elsewhere classified (NACE 28)
KBO
lowers risk · Legal form: public limited company
KBO
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 382 sector peers (2025).
NBB · sector comparison
Position among 382 sector peers
Solvency
better than 13%
← weakest strongest →
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 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year €1.5m
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
11 days early
2024
138 days early
2023
67 days early
2022
16 days early
2021
4 days early
2020
60 days early
2019
73 days 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 53 days before the deadline; the sector median (NACE 28) for financial year 2024 is 11 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Appointment: RSM INTERAUDIT (statutory auditor)Permanent representative: Jonas Uytterhaegen
  2. Annual accounts filedfinancial year 2025 · full…
  3. Resignation: VPSI BV (director)Permanent representatives: Dirk Van Puyvelde…

Key points

  • Result rose in 202515-month financial year ▲ 257% View
  • Caution: Among the weakest 14% on solvencysector median 41.4% · 382 companies 14.2% View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Controlled by VALTECH 100% View
  • Positive: 7 profitable years in a rowprofit 2025: €303,794 7 years View
  • Flemish supportawarded from 2022 to 2025 €355,824 View
  • A director leftlatest change 28-01-2026 · 0 in office 1 left View
  • Active since 1972founded 03-05-1972 54 years View

By topic

Financials

Financial year
2025
Total assets
€10.3m
Profit
€303,794
Solvency
14.2%
Total assets▲ 61.9%
Net result
20192025
Go to Financials

Timeline

Events
53
Since
1978
  1. 03-07-2025Resignation: TENACIA (director)
  2. 13-12-2024Annual accounts filed
  3. 09-12-2024Amendment of the articles
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of machinery and equipment not elsewhere classifiedNACE 28940
Founded
03-05-1972
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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