First Cut
ActiveSummary
First Cut has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €54k and a net result of €533. Equity is growing by ~21% per year across the filed fiscal years. Its solvency ranks better than 16% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▼-18
Solvency34▲+3
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 1.55 against 0.98 in 2024; short-term debt: 57.5% and cash: 2.4% of total assets), but 91.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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
8.7%
Return on assets
0.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 8048 sector peers (2025).
NBB · sector comparisonPosition among 8048 sector peers
Solvency
better than 16%
← weakest
strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
1 d early
← 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
Financials · fiscal year 2025, abbreviated schema
Equity
€54k▲ 1.0%
2024 · €53k
2023: €32klowest in 3 years
2024: €53k▲ +69.3% vs 2023
2025: €54k▲ +1.0% vs 2024highest in 3 years
2023 → 2025
Total assets
€623k▼ 29.9%
2024 · €888k
2023: €896khighest in 3 years
2024: €888k▼ -0.9% vs 2023
2025: €623k▼ -29.9% vs 2024lowest in 3 years
2023 → 2025
Net result
€533▼ 97.6%
2024 · €22k
2023: €22k
2024: €22k▲ +1.5% vs 2023highest in 3 years
2025: €533▼ -97.6% vs 2024lowest in 3 years
2023 → 2025
Working capital
€198k
2024 · €-16k
2023: €-68klowest in 3 years
2024: €-16k▲ +76.9% vs 2023
2025: €198k▲ +1353% vs 2024highest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€32k-€53k▲ 69.3%€54k▲ 1.0%
2023: €32klowest in 3 years
2024: €53k▲ +69.3% vs 2023
2025: €54k▲ +1.0% vs 2024highest in 3 years
Operating result€40k-€34k▼ 14.5%€13k▼ 60.8%
2023: €40khighest in 3 years
2024: €34k▼ -14.5% vs 2023
2025: €13k▼ -60.8% vs 2024lowest in 3 years
Net result€22k-€22k▲ 1.5%€533▼ 97.6%
2023: €22k
2024: €22k▲ +1.5% vs 2023highest in 3 years
2025: €533▼ -97.6% vs 2024lowest in 3 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 61% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €623k
Fixed assets
€67k ▼ 32.8%
Current assets
€556k ▼ 29.6%
Equity and liabilities €623k
Equity
€54k ▲ 1.0%
Debt
€569k ▼ 31.9%
Debt's share of the balance-sheet total falls from 94.0% to 91.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47k▼
2024 · €67k
Cash flow
€35k▼
2024 · €55k
Current ratio
1.55▲
2024 · 0.98
Quick ratio
0.27▼
2024 · 0.45
Debt to equity
10.53▼
2024 · 15.62
ROE
1.0%▼
2024 · 40.9%
ROA
0.1%▼
2024 · 2.5%
Interest coverage
4.23▼
2024 · 22.62
Debt ≤ 1 year
€358k▼
2024 · €805k
Debt > 1 year
€181k
Income taxes
€2k▼
2024 · €9k
Staff costs
€189k▲
2024 · €154k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€888k€623k▼
Fixed assets21/28€99k€67k▼
Intangible fixed assets21€91k€61k▼
Tangible fixed assets22/27€8k€6k▼
Land and buildings22€1k€1k▼
Plant, machinery and equipment23€1k€2k▲
Furniture and vehicles24€5k€3k▼
Current assets29/58€789k€556k▼
Stocks and contracts in progress3€423k€459k▲
Stocks30/36€423k€459k▲
Amounts receivable within one year40/41€316k€82k▼
Trade receivables40€316k€82k▼
Other amounts receivable41€0-
Cash at bank and in hand54/58€47k€15k▼
Deferred charges and accrued income490/1€3k€0▼
Equity and liabilities
Total equity and liabilities10/49€888k€623k▼
Equity10/15€53k€54k▲
Contributions10/11€10k€10k=
Reserves13€43k€44k▲
Distributable reserves133€43k€44k▲
Amounts payable17/49€835k€569k▼
Amounts payable after more than one year17-€181k
Financial debts170/4-€181k
Amounts payable within one year42/48€805k€358k▼
Current portion of amounts payable after more than one year42-€30k
Financial debts43-€46k
Credit institutions430/8-€46k
Trade debts44€731k€136k▼
Suppliers440/4€731k€136k▼
Advances received on contracts in progress46€35€35▲
Taxes, remuneration and social security45€43k€57k▲
Taxes450/3€22k€34k▲
Remuneration and social security454/9€22k€23k▲
Other amounts payable47/48€31k€89k▲
Accrued charges and deferred income492/3€30k€30k=
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€154k€189k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€34k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€635€0▼
Other operating charges640/8€10k€12k▲
Gross operating margin9900€232k€248k▲
Operating profit (loss)9901€34k€13k▼
Financial income75/76B€293€219▼
Recurring financial income75€293€219▼
Financial charges65/66B€3k€11k▲
Recurring financial charges65€3k€11k▲
Profit (loss) for the period before taxes9903€31k€2k▼
Income taxes67/77€9k€2k▼
Profit (loss) for the period9904€22k€533▼
Profit (loss) for the period to be appropriated9905€22k€533▼
Appropriation of the result
Profit (loss) to be appropriated9906€22k€533▼
Transfer to equity691/2€22k€533▼
To other reserves6921€22k€533▼
Social balance
Average headcount (FTE)90873.03.5▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €129 | €0 | - | - |
| Remuneration, social security and pensions62 | €318k | €154k | €189k | ▲ 22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33k | €33k | €34k | ▲ 2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €635 | €0 | ▼ 100% |
| Other operating charges640/8 | €10k | €10k | €12k | ▲ 21.0% |
| Gross operating margin9900 | €401k | €232k | €248k | ▲ 7.0% |
| Operating profit (loss)9901 | €40k | €34k | €13k | ▼ 60.8% |
| Financial income75/76B | €31 | €293 | €219 | ▼ 25.1% |
| Recurring financial income75 | €31 | €293 | €219 | ▼ 25.1% |
| Financial charges65/66B | €10k | €3k | €11k | ▲ 276% |
| Recurring financial charges65 | €10k | €3k | €11k | ▲ 276% |
| Profit (loss) for the period before taxes9903 | €30k | €31k | €2k | ▼ 92.5% |
| Income taxes67/77 | €8k | €9k | €2k | ▼ 80.7% |
| Profit (loss) for the period9904 | €22k | €22k | €533 | ▼ 97.6% |
| Profit (loss) for the period to be appropriated9905 | €22k | €22k | €533 | ▼ 97.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €896k | €888k | €623k | ▼ 29.9% |
| Fixed assets21/28 | €130k | €99k | €67k | ▼ 32.8% |
| Intangible fixed assets21 | €122k | €91k | €61k | ▼ 33.5% |
| Tangible fixed assets22/27 | €8k | €8k | €6k | ▼ 24.5% |
| Land and buildings22 | €2k | €1k | €1k | ▼ 11.3% |
| Plant, machinery and equipment23 | €2k | €1k | €2k | ▲ 28.5% |
| Furniture and vehicles24 | €4k | €5k | €3k | ▼ 40.2% |
| Current assets29/58 | €767k | €789k | €556k | ▼ 29.6% |
| Stocks and contracts in progress3 | €407k | €423k | €459k | ▲ 8.5% |
| Stocks30/36 | €407k | €423k | €459k | ▲ 8.5% |
| Amounts receivable within one year40/41 | €347k | €316k | €82k | ▼ 74.1% |
| Trade receivables40 | €132k | €316k | €82k | ▼ 74.1% |
| Other amounts receivable41 | €215k | €0 | - | - |
| Cash at bank and in hand54/58 | €11k | €47k | €15k | ▼ 68.0% |
| Deferred charges and accrued income490/1 | €1k | €3k | €0 | ▼ 100% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €896k | €888k | €623k | ▼ 29.9% |
| Equity10/15 | €32k | €53k | €54k | ▲ 1.0% |
| Contributions10/11 | €10k | €10k | €10k | = |
| Reserves13 | €22k | €43k | €44k | ▲ 1.2% |
| Distributable reserves133 | €22k | €43k | €44k | ▲ 1.2% |
| Amounts payable17/49 | €865k | €835k | €569k | ▼ 31.9% |
| Amounts payable after more than one year17 | - | - | €181k | - |
| Financial debts170/4 | - | - | €181k | - |
| Amounts payable within one year42/48 | €835k | €805k | €358k | ▼ 55.5% |
| Current portion of amounts payable after more than one year42 | - | - | €30k | - |
| Financial debts43 | - | - | €46k | - |
| Credit institutions430/8 | - | - | €46k | - |
| Trade debts44 | €715k | €731k | €136k | ▼ 81.3% |
| Suppliers440/4 | €715k | €731k | €136k | ▼ 81.3% |
| Advances received on contracts in progress46 | - | €35 | €35 | ▲ 0.1% |
| Taxes, remuneration and social security45 | €108k | €43k | €57k | ▲ 31.2% |
| Taxes450/3 | €71k | €22k | €34k | ▲ 56.3% |
| Remuneration and social security454/9 | €37k | €22k | €23k | ▲ 5.9% |
| Other amounts payable47/48 | €12k | €31k | €89k | ▲ 187% |
| Accrued charges and deferred income492/3 | €30k | €30k | €30k | = |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €22k | €533 | ▼ 97.6% |
| + Depreciation and write-downs630 | €33k | €33k | €34k | ▲ 2.1% |
| Operating cash flow (approximation) | €54k | €55k | €35k | ▼ 37.5% |
| Investment in fixed assets (approximation) | - | €-3k | €-1k | ▲ 46.0% |
| Change in cash | - | €36k | €-32k | ▼ 190% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €533 ▼97.6%
Net result drops to €533, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2023net €22k ▲1.5%
Net result €22k, the highest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not 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
1 act for this company is 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, Sint-Truiden · 1 establishment unit since 2022
Ground area
3,974 m²
Building footprint
1,270 m²
Volume, LiDAR
6,305 m³
Parcel 71009A0060/00C000, Flanders · tallest building 10.2 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Festraets Cosmetics
since 20222.330.281.973
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71009A0060/00C000 | Flanders | 3,974 m² | 1 · 1,270 m² | 10.2 m · 1 fl. |
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.
Similar companies · same sector, comparable size
SISLEY Belgique
BE 0836.849.781
Brussel · Eq €53,567
Project Fox
BE 0694.914.928
Ieper · Eq €53,042
WELLNESS PARTNERS
BE 0771.643.215
Lendelede · Eq €55,489
NADINE SALEMBIER DIFFUSION
BE 0413.692.726
Comines-Warneton · Eq €52,061
Jarco
BE 1003.667.809
Tremelo · Eq €51,702
Of 798 companies in sector 46450 we hold annual accounts for 452. 315 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
Founded15-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
46450Wholesale of perfume and cosmetics
46494Wholesale of non-electrical household articles
47551Retail sale of household furniture
47750Retail sale of cosmetics and toilet articles
Scores and ratios are computed by Checked and are not a credit decision.