ETHNICRAFT
ETHNICRAFT has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.79M and a net result of €-8.53M. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 33% of 4761 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
| Equity | €6.79M |
| Net result | €-8.53M |
| Staff (FTE) | 82.6 |
| Better than sector | 33% |
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 30.7% | 45.7% | |
| Net result | €-8.53M | €116k | |
| Equity | €6.79M | €1.63M | |
| Staff costs | €6.13M | €779k | |
| Employees (FTE) | 82.6 | 10.9 |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema | full schema |
| Revenue | €38.80M | €39.76M | €40.89M | €48.89M | €41.72M |
| EBITDA | €2.77M | €3.09M | €3.11M | €4.50M | €2.83M |
| Net profit | €-8.53M | €1.78M | €1.75M | €3.17M | €1.76M |
| Cash flow | €-8.16M | €2.15M | €2.09M | €3.46M | €2.00M |
| Staff costs | €6.13M | €6.36M | €6.34M | €5.68M | €4.58M |
| Income taxes | €553k | €677k | €664k | €991k | €777k |
| Dividends | - | - | - | - | - |
| Total assets | €22.14M | €27.75M | €21.06M | €22.06M | €18.30M |
| Equity | €6.79M | €15.32M | €13.53M | €11.79M | €8.62M |
| Debt | €15.35M | €12.43M | €7.52M | €10.28M | €9.69M |
| of which ≤ 1y | €15.08M | €12.17M | €7.02M | €9.56M | €9.31M |
| of which > 1y | €71k | €174k | €275k | €380k | €34k |
| Working capital | €5.69M | €14.06M | €12.53M | €11.18M | €8.12M |
| Employees (FTE) | 82.6 | 95.1 | 97.1 | 85.1 | 71.4 |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.38 | 2.16 | 2.78 | 2.17 | 1.87 |
| Quick ratio | 0.52 | 1.24 | 1.23 | 0.79 | 0.86 |
| Working capital ratio | 25.7% | 50.7% | 59.5% | 50.7% | 44.4% |
| Solvency | 30.7% | 55.2% | 64.3% | 53.4% | 47.1% |
| Debt / equity | 2.26 | 0.81 | 0.56 | 0.87 | 1.12 |
| Long-term debt ratio | 0.01 | 0.01 | 0.02 | 0.03 | 0.00 |
| Interest coverage | 6.89 | 9.53 | 13.02 | 45.72 | 28.41 |
| Gross margin | 29.9% | 29.9% | 29.2% | 27.8% | 30.0% |
| Net margin | -22.0% | 4.5% | 4.3% | 6.5% | 4.2% |
| ROA | -38.5% | 6.4% | 8.3% | 14.4% | 9.6% |
| ROE | -125.7% | 11.6% | 12.9% | 26.9% | 20.4% |
| EBITDA margin | 7.1% | 7.8% | 7.6% | 9.2% | 6.8% |
| Days sales outstanding | 46d | 37d | 62d | 46d | 39d |
| Days payable outstanding | 41d | 34d | 26d | 28d | 33d |
| Inventory turnover | 2.11 | 2.50 | 2.65 | 2.68 | 3.09 |
| Days inventory (DSI) | 173d | 146d | 138d | 136d | 118d |
Full annual accounts (26 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €22.14M | €27.75M | €21.06M | €22.06M | €18.30M |
| Fixed assets | 21/28 | €1.38M | €1.52M | €1.50M | €1.32M | €872k |
| Intangible fixed assets | 21 | - | €1k | €14k | €41k | €77k |
| Tangible fixed assets | 22/27 | €1.33M | €1.47M | €1.43M | €1.23M | €744k |
| Financial fixed assets | 28 | €51k | €52k | €51k | €51k | €51k |
| Current assets | 29/58 | €20.76M | €26.23M | €19.56M | €20.74M | €17.43M |
| Stocks & contracts in progress | 3 | €12.92M | €11.15M | €10.93M | €13.19M | €9.45M |
| Amounts receivable within one year | 40/41 | €4.85M | €4.12M | €7.01M | €6.56M | €5.56M |
| Cash & bank | 54/58 | €320k | €292k | €896k | €739k | €340k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €22.14M | €27.75M | €21.06M | €22.06M | €18.30M |
| Equity | 10/15 | €6.79M | €15.32M | €13.53M | €11.79M | €8.62M |
| Contributions / capital | 10/11 | €150k | €150k | €150k | €150k | €150k |
| Reserves | 13 | €6.64M | €15.07M | €13.38M | €11.60M | €8.46M |
| Accumulated profits (losses) | 14 | - | €95k | €10k | €39k | €9k |
| Amounts payable | 17/49 | €15.35M | €12.43M | €7.52M | €10.28M | €9.69M |
| Amounts payable after one year | 17 | €71k | €174k | €275k | €380k | €34k |
| Amounts payable within one year | 42/48 | €15.08M | €12.17M | €7.02M | €9.56M | €9.31M |
| Trade debts payable within one year | 44 | €3.08M | €2.57M | €2.09M | €2.69M | €2.60M |
| Income statement | ||||||
| Turnover | 70 | €38.80M | €39.76M | €40.89M | €48.89M | €41.72M |
| Operating result | 9901 | €2.39M | €2.72M | €2.77M | €4.21M | €2.59M |
| Financial income | 75 | €68k | €158k | €134k | €378k | €223k |
| Financial charges | 65 | €10.44M | €416k | €487k | €427k | €276k |
| Result before taxes | 9903 | €-7.98M | €2.46M | €2.41M | €4.16M | €2.54M |
| Income taxes | 67/77 | €553k | €677k | €664k | €991k | €777k |
| Net result for the period | 9904 | €-8.53M | €1.78M | €1.75M | €3.17M | €1.76M |
| Result to be appropriated | 9905 | €-8.27M | €1.58M | €1.43M | €1.28M | €1.61M |
-
D&L InvestEnige bestuurderState Gazette act 24394140 (02-05-2024)Current02-05-2024 → present
2 events
- 02-05-2024 Appointed· Enige bestuurder
- 02-05-2024 Resigned· Director
-
Benoit LoosManaging directorState Gazette act 23023200 (16-02-2023)Current16-02-2023 → present
-
D&L Invest NVLegal entityDirectorState Gazette act 23023200 (16-02-2023)Current16-02-2023 → present
2 events
- 16-02-2023 Appointed· Director
- 16-02-2023 Appointed· Managing director
-
Paul VeenDirectorState Gazette act 23023200 (16-02-2023)Current16-02-2023 → present
2 events
- 02-05-2024 Resigned· Director
- 16-02-2023 Appointed· Director
-
Jelina BVLegal entityDirectorState Gazette act 21122660 (14-10-2021)Current14-10-2021 → present
Historic, not recently confirmed (5)
-
Alexia WoltersBijzondere gevolmachtigdeState Gazette act 20076653 (07-07-2020)Not recently confirmedlast confirmed in an act from 2020
3 events
- 07-07-2020 Appointed· Bijzondere gevolmachtigde
- 09-03-2018 Appointed· Bijzondere gevolmachtigde
- 21-12-2015 Appointed· Bijzondere gevolmachtigde
-
Leen Van Looy Joanna JozefaBijzondere gevolmachtigdeState Gazette act 20076653 (07-07-2020)Not recently confirmedlast confirmed in an act from 2020
3 events
- 07-07-2020 Appointed· Bijzondere gevolmachtigde
- 09-03-2018 Appointed· Bijzondere gevolmachtigde
- 21-12-2015 Appointed· Bijzondere gevolmachtigde
-
De heer Loos BenoitDirectorState Gazette act 16083933 (20-06-2016)Not recently confirmedlast confirmed in an act from 2016
2 events
- 20-06-2016 Appointed· Director
- 20-06-2016 Appointed· Managing director
-
De heer Veen PaulDirectorState Gazette act 16083933 (20-06-2016)Not recently confirmedlast confirmed in an act from 2016
-
Jelina BVBALegal entityDirectorState Gazette act 15077892 (03-06-2015)Not recently confirmedlast confirmed in an act from 2015
Permanent representatives (2)
-
Loos BenoitVaste vertegenwoordiger van d&l investState Gazette act 24394140 (02-05-2024)Permanent representative02-05-2024 → present
-
David LenaertsVertegenwoordigerState Gazette act 19156275 (29-11-2019)Permanent representative29-11-2019 → present
Former directors (1)
-
JELINADirectorState Gazette act 24394140 (02-05-2024)Former- → 02-05-2024
| BDO Bedrijfsrevisoren BVCurrent Statutory auditor | 16-02-2023 → present |
Show 1 earlier auditors
| BDO Bedrijfsrevisoren Burg. CVBA Statutory auditor succeeded by BDO Bedrijfsrevisoren BV in 2023 | 20-06-2016 → 16-02-2023 |
| NACE primary | Wholesale trade(46471) |
| Legal form | Public limited company(014) |
| Incorporation | 07-06-1996 |
| Status | Active |
| Postal code | 2850 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11005A0286/00N000 | Flanders | 4.4 ha | 1 · 2.1 ha | - |
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
02-05-2024 Articles of association amended
Technical details
{
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"name_change": {
"new": "",
"old": "",
"changed": false
},
"seat_change": {
"changed": false
},
"object_change": {
"changed": false
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "ETHNICRAFT"
},
"legal_form_change": {
"new": "naamloze vennootschap",
"old": "naamloze vennootschap",
"changed": false
}
}16-02-2023 5 directors appointed
- Paul Veen, Bestuurder
- D&L Invest NV, Bestuurder
- Benoit Loos, Gedelegeerd bestuurder
- D&L Invest NV, Gedelegeerd bestuurder
- BDO Bedrijfsrevisoren BV, Commissaris
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Paul Veen",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "D\u0026L Invest NV",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "gedelegeerd bestuurder",
"person": {
"rrn": null,
"name": "Benoit Loos",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "gedelegeerd bestuurder",
"person": {
"rrn": null,
"name": "D\u0026L Invest NV",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "commissaris",
"person": {
"rrn": null,
"name": "BDO Bedrijfsrevisoren BV",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}14-10-2021 Jelina BV appointed as director
- Jelina BV, Bestuurder
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Jelina BV",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}07-07-2020 2 directors appointed
- Leen Van Looy Joanna Jozefa, Bijzondere gevolmachtigde
- Alexia Wolters, Bijzondere gevolmachtigde
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bijzondere gevolmachtigde",
"person": {
"rrn": null,
"name": "Leen Van Looy Joanna Jozefa",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "bijzondere gevolmachtigde",
"person": {
"rrn": null,
"name": "Alexia Wolters",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}29-11-2019 2 directors appointed
- BDO Bedrijfsrevisoren Burg. CVBA, Commissaris
- David Lenaerts, Vertegenwoordiger
Technical details
{
"events": [
{
"kind": "director_in",
"role": "commissaris",
"person": {
"rrn": null,
"name": "BDO Bedrijfsrevisoren Burg. CVBA",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "vertegenwoordiger",
"person": {
"rrn": null,
"name": "David Lenaerts",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}09-03-2018 2 directors appointed
- Leen Van Looy Joanna Jozefa, Bijzondere gevolmachtigde
- Alexia Wolters, Bijzondere gevolmachtigde
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bijzondere gevolmachtigde",
"person": {
"rrn": null,
"name": "Leen Van Looy Joanna Jozefa",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "bijzondere gevolmachtigde",
"person": {
"rrn": null,
"name": "Alexia Wolters",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}20-06-2016 4 directors appointed
- BDO Bedrijfsrevisoren Burg. CVBA, Commissaris
- De heer Loos Benoit, Bestuurder
- De heer Veen Paul, Bestuurder
- De heer Loos Benoit, Gedelegeerd bestuurder
Technical details
{
"events": [
{
"kind": "director_in",
"role": "commissaris",
"person": {
"rrn": null,
"name": "BDO Bedrijfsrevisoren Burg. CVBA",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "De heer Loos Benoit",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "De heer Veen Paul",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "gedelegeerd bestuurder",
"person": {
"rrn": null,
"name": "De heer Loos Benoit",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}21-12-2015 2 directors appointed
- Leen Van Looy Joanna Jozefa, Bijzondere gevolmachtigde
- Alexia Wolters, Bijzondere gevolmachtigde
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bijzondere gevolmachtigde",
"person": {
"rrn": null,
"name": "Leen Van Looy Joanna Jozefa",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "bijzondere gevolmachtigde",
"person": {
"rrn": null,
"name": "Alexia Wolters",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}03-06-2015 Jelina BVBA appointed as director
- Jelina BVBA, Bestuurder
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Jelina BVBA",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "Ethnicraft"
}
}13-06-2006 Registered office moved from Aartselaar to Voorst
- Industrieweg 22 -2630 AARTSELAAR → Scheldeweg 5-2850 ВООМ
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Scheldeweg 5-2850 \u0412\u041E\u041E\u041C",
"city": "Voorst",
"region": "vlaams_gewest",
"street": "Scheldeweg",
"country": "BE",
"postcode": "2850",
"box_number": null,
"street_number": "5",
"locality_suffix": null
},
"old_address": {
"raw": "Industrieweg 22 -2630 AARTSELAAR",
"city": "Aartselaar",
"region": "vlaams_gewest",
"street": "Industrieweg",
"country": "BE",
"postcode": "2630",
"box_number": null,
"street_number": "22",
"locality_suffix": null
},
"effective_date": "2006-05-02",
"evidence_quote": "De Raad van Bestuur dd. 28 april 2006 heeft beslist de zetel van de vennootschap met ingang van 2 mei 2006 te verplaatsen naar Scheldeweg 5-2850 \u0412\u041E\u041E\u041C",
"region_changed": false,
"is_statute_change": false,
"nationality_change": false,
"old_address_source": "header_volledig_adres",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "absolute",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": "Loos Benoit",
"firm_city": null,
"firm_name": null,
"office_city": "Antwerpen",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2006-06-13",
"filing_date": "2006-06-01",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
"body": "raad_van_bestuur",
"date": "2006-04-28",
"unanimous": true
},
"subject_company": {
"kbo": "0458.213.251",
"name_full": "ETHNICRAFT",
"legal_form": "NV"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "Loos Benoit",
"org_rep_person_name": null,
"person_role_at_subject": "Gedelegeerd bestuurder"
},
"co_filed_documents": [
"Akte van de Raad van Bestuur van 28 april 2006",
"Verklaring van de notaris"
]
}| Legal nameNL | ETHNICRAFT |