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Krëfel

Active
Public limited companyfounded 1958active for 67 yearsSteenstraat 44, 1851 Grimbergen, BelgiumKBO/BCE: BE 0400.673.544
Summary

The computed 12-month bankruptcy probability of Krëfel is 4.0% (moderate). The 2025 annual accounts show negative equity (-€14.8m) and a net result of -€18.9m. Equity is shrinking by about 26% per year across the filed financial years. Its solvency ranks better than 9% of 4,925 sector peers (NACE 47, financial year 2025). The company has been active since 1958 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Retail sale of electrical household appliances
NACE 47540
Largest employer in Grimbergen, Wholesale and retail trade sector84 sites
Size
€451.9mturnover 2025
Staff
1,100.3 FTE
Equity
-€14.8m
Loss
-€18.9m
Financial health
46 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
4.0%
Structure
Parent
Krëfel Group SAS · 100%
Holdings
1
Auditor: PricewaterhouseCoopers Reviseurs d'EntreprisesAccounts 16 days early
Why 46raises riskNegative equity -€14.8mLoss of €18.9m, the second in a row (financial year 2025)Liquidity: current ratio 0.84, cash €2.7m, halvedSector: Retail trade (NACE 47)Show the evidence

Checked score

Score 2025
46 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 13% of its sector peers (NACE 47, large)
Financial strength · tick = 2024
Weak
Solvency 15-13
equity -10.1% of total assets
Liquidity 2-5
short-term debt 106.9% · cash 1.9%
Profitability 5+5
return on assets -12.9%
Bankruptcy probability, 12 months
4.0% Moderate
0%0.5%1.5%4%10%≥ 25%

About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (83 companies, NACE 47, large)
Last 24 months 11-2024: 1.9% 12-2024: 1.9%● unchanged vs 11-2024 01-2025: 1.9%● unchanged vs 12-2024 02-2025: 1.8%▼ -0.1 percentage points vs 01-2025 03-2025: 1.8%● unchanged vs 02-2025 04-2025: 1.9%▲ +0.1 percentage points vs 03-2025 05-2025: 1.9%● unchanged vs 04-2025 06-2025: 1.9%● unchanged vs 05-2025 07-2025: 1.8%▼ -0.1 percentage points vs 06-2025 08-2025: 1.8%● unchanged vs 07-2025 09-2025: 1.8%● unchanged vs 08-2025 10-2025: 1.8%● unchanged vs 09-2025 11-2025: 1.8%● unchanged vs 10-2025 12-2025: 1.8%● unchanged vs 11-2025 01-2026: 1.8%● unchanged vs 12-2025 02-2026: 1.8%● unchanged vs 01-2026lowest value 03-2026: 1.8%● unchanged vs 02-2026lowest value 04-2026: 1.8%● unchanged vs 03-2026lowest value 05-2026: 1.8%● unchanged vs 04-2026 06-2026: 1.8%● unchanged vs 05-2026 07-2026: 1.8%● unchanged vs 06-2026 08-2026: 4.0%▲ +2.2 percentage points vs 07-2026highest value 09-2026: 4.0%● unchanged vs 08-2026highest value 10-2026: 4.0%● unchanged vs 09-2026highest value
No credit on open account
Liquidity insufficient (current ratio 0.84, compared with 0.92 in 2024, below 1; short-term debt: 106.9% and cash: 1.9% of total assets), and equity is negative.
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 47, large): better than 5% on solvency, 2% on liquidity, 7% on profitability and 35% on growth.

The bankruptcy probability was computed on 12-10-2026 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

Six signals.
raises riskneutral
raises risk · Negative equity -€14.8m
NBB · annual accounts
raises risk · Loss of €18.9m, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · Liquidity: current ratio 0.84, cash €2.7m, halved
NBB · annual accounts
raises risk · Sector: Retail trade (NACE 47)
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1919202122232425
2019 to 2025 · latest year -€14.8m
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 15-07-2026, 16 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
16 days early
2024
57 days early
2023
85 days early
2022
20 days early
2021
48 days early
2020
58 days early
2019
43 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 47 days before the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 13 June (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven months
Where today falls in the filing period
13-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignation: VINOCO (day-to-day manager)Permanent representatives: Vincent Nolf and…
  2. Capital & sharesDeclaration · Capital · Capital…
  3. Annual accounts filedfinancial year 2025 · full…

Key points

  • Risk: Negative equityfinancial year 2025: debts exceed assets -€14.8m View
  • Risk: 4 loss-making years in a rowloss financial year 2025 -€18.9m View
  • Caution: Among the weakest 5% on net resultsector median €40,857 · 4,925 companies -€18.9m View
  • Positive: Filed on time since financial year 2019accounts within the deadline every year 8 years View
  • Controlled by Krëfel Group SASultimately: United b. SA 100% View
  • Board changedlatest change 21-08-2026 · 3 in office 1 joined · 1 left View
  • Active since 1958founded 02-12-1958 67 years View
  • Positive: Result rose in 2025from -€29.3m to -€18.9m ▲ 35.7% View

By topic

Financials

Financial year
2025
Turnover
€451.9m
Loss
-€18.9m
Solvency
-10.1%
Turnover▲ 4.4%
Net result
20192025
Go to Financials

Board & ownership

Board
3 members
Parent
Krëfel Group SAS · 100%
Auditor
PricewaterhouseCoopers Reviseurs d'Entreprises
  • HERVE JEAN BOISSEDirector
  • Bruno RESSEGUIERDirector
  • Guillaume BeuscartDirector
Go to Board & ownership

Timeline

Events
92
Since
1979
Next accounts
by 31-07-2027
  1. 21-11-2025Appointments: Guillaume Beuscart (director) and VINOCO Besloten…
  2. 07-10-2025Permanent representatives: Merzak MEDDAH and Etienne HUREZ
  3. 04-06-2025Annual accounts filed
Go to Timeline

Company details

Sites
84
Legal form
Public limited company
Activity
Retail sale of electrical household appliancesNACE 47540
Founded
02-12-1958
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
2
Purpose
“Vervaarding, aankoop, verkoop, levering, plaatsing, onderhoud, nazorg en herstellen van…” (deed in Dutch)
Go to Articles of association

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