Active BE 0893.311.305Public limited company

I.R.C.E.B. BUGGENHOUT

Kalkenstraat 106 ·9255 Buggenhout, Belgium· 18 yrs active

Sector: Manufacture of textiles (13990)

Conclusion Checked

I.R.C.E.B. BUGGENHOUT has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €764k and a net result of €110k. Equity is growing by ~20.8% per year across the filed fiscal years. Its solvency ranks better than 21% of 149 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 6 annual accounts.

Key figures

Equity	€764k
Net result	€110k
Staff (FTE)	1
Better than sector	21%

Financial profile 5 of 5 axes measured · computed by Checked

74 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 73

Profitability 72

Solvency 49

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2007, 18 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 Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

73 / 100 Healthy

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€55k

estimate, not credit advice

Score history

68 2020

63 2021

71 2022

73 2023

89 2024

73 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.17 (≥ 1.0) +5

Profitability ROE 14% (≥ 10%) +10

Interest coverage Interest coverage 15.5× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview19 NBB filings

Annual accounts filed on 28-08-2026 with the NBB · fiscal year 2025 · full schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~20.8%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

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 2025 · NACE 13, Manufacture of textiles · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	28.8%	56.5%	better than 21% of 149 sector peers
Net result	€110k	€98k	better than 51% of 149 sector peers
Equity	€764k	€2.38M	better than 27% of 149 sector peers
Gross operating margin	€325k	€572k	better than 35% of 67 sector peers
Staff costs	€40k	€1.44M	higher than 5% of 126 sector peers

EBITDA

€254k

-18.8% 20-25

Net profit

€110k

-23.7% 20-25

Cash flow

€207k

-17.5% 20-25

Total assets

€2.66M

+36.8% 20-25

Equity

€764k

+16.8% 20-25

Working capital

€295k

+80.6% 20-25

Employees (FTE)

1

0.0% 20-25

Staff costs

€40k

+12.7% 20-25

Income taxes

€42k

+0.6% 20-25

Dividends

€65k

- 20-25

Debt

€1.89M

+47.0% 20-25

Debt ≤ 1y

€1.73M

+58.4% 20-25

Debt > 1y

€151k

-19.7% 20-25

Current ratio

1.17

+1.8% 20-25

Quick ratio

0.83

-20.6% 20-25

Solvency

28.8%

-14.6% 20-25

Debt / equity

2.47

+25.8% 20-25

ROE

14.4%

-34.7% 20-25

ROA

4.1%

-44.3% 20-25

Interest coverage

15.47

+23.0% 20-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	full schema	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-	-	-
EBITDA	€254k	€313k	€266k	€271k	€165k
Net profit	€110k	€144k	€105k	€120k	€40k
Cash flow	€207k	€251k	€203k	€207k	€137k
Staff costs	€40k	€35k	€36k	€31k	€60k
Income taxes	€42k	€42k	€43k	€48k	€9k
Dividends	-	-	-	€65k	-
Total assets	€2.66M	€1.94M	€2.04M	€2.48M	€2.48M
Equity	€764k	€654k	€510k	€405k	€349k
Debt	€1.89M	€1.29M	€1.53M	€2.08M	€2.14M
of which ≤ 1y	€1.73M	€1.09M	€1.27M	€1.75M	€1.74M
of which > 1y	€151k	€188k	€257k	€329k	€394k
Working capital	€295k	€163k	€9k	€37k	€8k
Employees (FTE)	1.0	1.0	1.0	1.0	1.8

Note: these years are not on the same basis. The filed schemas differ (full schema, abbreviated schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	1.17	1.15	1.01	1.02	1.00
Quick ratio	0.83	1.05	0.80	0.91	0.68
Working capital ratio	11.1%	8.4%	0.4%	1.5%	0.3%
Solvency	28.8%	33.7%	25.0%	16.3%	14.1%
Debt / equity	2.47	1.97	3.00	5.14	6.11
Long-term debt ratio	0.20	0.29	0.50	0.81	1.13
Interest coverage	15.47	12.57	11.57	11.99	5.95
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	4.1%	7.4%	5.2%	4.8%	1.6%
ROE	14.4%	22.1%	20.6%	29.7%	11.5%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €628k · 23.6% Current assets €2.03M · 76.4%

Equity & liabilities

Equity €764k · 28.8% Debt €1.89M · 71.2%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.66M	€1.94M	€2.04M	€2.48M	€2.48M
Fixed assets	21/28	€628k	€684k	€763k	€699k	€738k
Tangible fixed assets	22/27	€626k	€682k	€761k	€698k	€737k
Financial fixed assets	28	€1k	€1k	€1k	€1k	€1k
Current assets	29/58	€2.03M	€1.26M	€1.28M	€1.78M	€1.75M
Stocks & contracts in progress	3	€586k	€110k	€263k	€197k	€569k
Amounts receivable within one year	40/41	€445k	€488k	€411k	€748k	€615k
Investments	50/53	€95k	€95k	€95k	€95k	€95k
Cash & bank	54/58	€895k	€542k	€493k	€737k	€394k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.66M	€1.94M	€2.04M	€2.48M	€2.48M
Equity	10/15	€764k	€654k	€510k	€405k	€349k
Contributions / capital	10/11	€84k	€84k	€84k	€84k	€84k
Reserves	13	€680k	€570k	€426k	€321k	€265k
Amounts payable	17/49	€1.89M	€1.29M	€1.53M	€2.08M	€2.14M
Amounts payable after one year	17	€151k	€188k	€257k	€329k	€394k
Amounts payable within one year	42/48	€1.73M	€1.09M	€1.27M	€1.75M	€1.74M
Trade debts payable within one year	44	€1.66M	€1.01M	€1.13M	€1.61M	€1.62M
Income statement
Gross operating margin	9900	€325k	€410k	€327k	€326k	€250k
Operating result	9901	€157k	€207k	€168k	€184k	€68k
Financial income	75	€12k	€5k	€4k	€8k	€8k
Financial charges	65	€16k	€25k	€23k	€23k	€28k
Result before taxes	9903	€153k	€187k	€149k	€169k	€49k
Income taxes	67/77	€42k	€42k	€43k	€48k	€9k
Net result for the period	9904	€110k	€144k	€105k	€120k	€40k
Result to be appropriated	9905	€110k	€144k	€105k	€120k	€40k

Legal Structure

NACE primary	Manufacture of textiles(13990)
Legal form	Public limited company(014)
Incorporation	08-11-2007
Status	Active
Postal code	9255

Establishment units 2 locations

I.R.C.E.B. Buggenhout nv

Kalkenstraat 106, 9255 BuggenhoutNACE 51410

since 20072.166.594.473

Schaapveld (STG) 5, 9200 Dendermonde

Wholesale trade

since 20252.374.656.109

Real-estate footprint Source: CBE × cadastre

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
42021B0635/00M000	Flanders	4,891 m²	1 · 2,832 m²	6.9 m · 2 fl.
42004D0150/00X009	Flanders	4,279 m²	1 · 2,226 m²	-

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

28-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 28 days late

2025

08-10

State Gazette act Director changes

22-08

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 22 days late

2024

31-12

Financial Highest result since 2020net €144k ▲37.3%

Operating result €207k, net result €144k, both a record.

22-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 22 days late

2023

31-12

Financial Equity above €500kEq €510k ▲26%

4 profitable years in a row build equity to €510k.

16-08

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 16 days late

2022

13-08

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 13 days late

2021

31-12

Financial Weakest financial yearnet €40k ▼7.9%

Net result drops to €40k, the lowest in the series; recovery starts the following year.

06-08

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 6 days late

2020

30-09

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 61 days late

2019

30-08

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 30 days late

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 31 days late

2017

26-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 6 acts read

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 11 months ago

2025

08-10-2025 3 reappointed Director changes

Harry HEYVAERT, Bestuurder
Filip HEYVAERT, Bestuurder
Harry HEYVAERT, Gedelegeerd bestuurder

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "director_renew",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Harry HEYVAERT",
        "address": "9255 Buggenhout Hoogweide 1",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": "niet_statutair",
      "compensated": false,
      "effective_date": "2025-06-20",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": 6
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "director_renew",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Filip HEYVAERT",
        "address": "9255 Buggenhout Kalkenstraat 110",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": "niet_statutair",
      "compensated": false,
      "effective_date": "2025-06-20",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": 6
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "director_renew",
      "role": "gedelegeerd_bestuurder",
      "person": {
        "rrn": null,
        "name": "Harry HEYVAERT",
        "address": "9255 Buggenhout Hoogweide 1",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": "2025-06-20",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": 6
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Gent",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2025-10-08",
    "filing_date": "2025-09-30",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2025-06-20",
      "unanimous": null
    },
    {
      "body": "bestuursorgaan",
      "date": "2025-06-06",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0893.311.305",
    "name_full": "1.R.C.E.B. BUGGENHOUT",
    "legal_form": "NV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Harry Heyvaert",
    "org_rep_person_name": null,
    "person_role_at_subject": "Gedelegeerd bestuurder"
  },
  "co_filed_documents": [
    "de notulen van de algemene vergadering dd. 20/06/2025"
  ],
  "corrected_publication_numac": null
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Manufacture of textiles13990Wholesale trade4687951570Wholesale trade46869Wholesale trade46872Retail sale of lighting equipment47552Retail trade47592Retail sale of second-hand clothing4779251562524425250252740Repair and maintenance of other personal and household goods95290

Names & trade names

Legal nameNL

I.R.C.E.B. BUGGENHOUT

Similar companies Comparable size · 28 of 188 companies in this sector with filed accounts

WALOTEX BE 0553.768.149 · Kortrijk

Kunstateliers Slabbinck BE 0405.140.690 · Brugge

BELO VELVETS BE 0821.200.713 · Anzegem

DE POORTERE FRERES BE 0824.737.451 · Mouscron

HOOOK BE 0846.691.422 · Nazareth-De Pinte