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Checked processes every Belgian company, act by act, from the Belgian Official Gazette. The data below is real and verified, this company's full, act-by-act verified dossier is still being assembled.
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Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of PATCH is 0.4% (very low). The 2025 annual accounts show negative equity (€-200k) and a net result of €103k. Equity is shrinking by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 16% of 856 sector peers (fiscal year 2025). The company has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.4%
Very low
0%0,5%1,5%4%10%≥25%
Long track record
−Lower-risk legal form
−Higher-failure-rate sector
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
2 signals · with evidenceWeak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 856 sector peers (2025).
View the sector comparison Consistently profitable
Positive net result in the two most recent financial years (2024 and 2025).
View the result trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideLatest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-03. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-03-2025, that is 31-10-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-03-2025 | 31-10-2025 | 30-10-2025 | 1 d early | 2025-00554911 |
| 31-03-2024 | 31-10-2024 | 29-10-2024 | 2 d early | 2024-00528503 |
| 31-03-2023 | 31-10-2023 | 27-10-2023 | 4 d early | 2023-00501227 |
| 31-03-2022 | 31-10-2022 | 09-11-2022 | 9 d late | 2022-20520169 |
| 31-03-2021 | 31-10-2021 | 09-11-2021 | 9 d late | 2021-76800115 |
| 31-03-2020 | 31-10-2020 | 30-11-2020 | 30 d late | 2020-74500463 |
| 31-03-2019 | 31-10-2019 | 30-10-2019 | 1 d early | 2019-72100369 |
| 31-03-2018 | 31-10-2018 | 31-10-2018 | on the day | 2018-70800415 |
| 31-03-2017 | 31-10-2017 | 31-10-2017 | on the day | 2017-68200424 |
| 31-03-2016 | 31-10-2016 | 31-10-2016 | on the day | 2016-67300245 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsLong-established
Founded in 1984, 41 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 Flags
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.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€103k+174.7%
Working capital€-1.05M+4.9%
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 30-10-2025 with the NBB · fiscal year 2025 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~13.4%/year over 7 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 46, Wholesale trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -11.2% | 35.5% | |
| Net result | €103k | €10k | |
| Equity | €-200k | €40k | |
| Gross operating margin | €390k | €31k | |
| Staff costs | €135k | €33k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P16
Stable position over 2020-2025
· n=856-3354
P92
Improving position over 2020-2025
· n=855-3341
P5
Stable position over 2020-2025
· n=857-3361
P95
Stable position over 2020-2025
· n=854-3327
Describes the position versus peers, not a forecast.
€198k
+42.8%
19-25
€103k
+174.7%
19-25
€177k
+50.4%
19-25
€1.78M
-3.8%
19-25
€-200k
+33.9%
19-25
€-1.05M
+4.9%
19-25
3
0.0%
19-25
€135k
+1.3%
19-25
€-4
-
19-25
€1.98M
-8.0%
19-25
€1.14M
-6.3%
19-25
€825k
-10.7%
19-25
0.07
-15.1%
19-25
0.07
-15.1%
19-25
-11.2%
+31.3%
19-25
-9.90
-39.2%
19-25
-51.3%
-315.5%
19-25
5.8%
+185.4%
19-25
9.40
+42.1%
19-25
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €198k |
| Net profit | €103k |
| Cash flow | €177k |
| Staff costs | €135k |
| Income taxes | €-4 |
| Dividends | - |
| Total assets | €1.78M |
| Equity | €-200k |
| Debt | €1.98M |
| of which ≤ 1y | €1.14M |
| of which > 1y | €825k |
| Working capital | €-1.05M |
| Employees (FTE) | - |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 0.07 |
| Quick ratio | 0.07 |
| Working capital ratio | -59.0% |
| Solvency | -11.2% |
| Debt / equity | -9.90 |
| Long-term debt ratio | -4.12 |
| Interest coverage | 9.40 |
| Gross margin | - |
| Net margin | - |
| ROA | 5.8% |
| ROE | -51.3% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €1.78M |
| Fixed assets | 21/28 | €1.70M |
| Tangible fixed assets | 22/27 | €1.70M |
| Current assets | 29/58 | €83k |
| Amounts receivable within one year | 40/41 | €45k |
| Cash & bank | 54/58 | €38k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.78M |
| Equity | 10/15 | €-200k |
| Contributions / capital | 10/11 | €62k |
| Reserves | 13 | €198k |
| Accumulated profits (losses) | 14 | €-461k |
| Amounts payable | 17/49 | €1.98M |
| Amounts payable after one year | 17 | €825k |
| Amounts payable within one year | 42/48 | €1.14M |
| Trade debts payable within one year | 44 | €249k |
| Income statement | ||
| Gross operating margin | 9900 | €390k |
| Operating result | 9901 | €124k |
| Financial income | 75 | €18 |
| Financial charges | 65 | €21k |
| Result before taxes | 9903 | €103k |
| Income taxes | 67/77 | €-4 |
| Net result for the period | 9904 | €103k |
| Result to be appropriated | 9905 | €103k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2025 · computed16
/ 100
Critical
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.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Directors
Directors & mandates
2 directorsCurrent directors & mandates
-
Current16-07-2018 → present
4 events
- 04-04-2023 Mandate renewed· Director
- 04-04-2023 Mandate renewed· Managing director
- 16-07-2018 Mandate renewed· Director
- 16-07-2018 Appointed· Managing director
-
Current16-07-2018 → present
2 events
- 04-04-2023 Mandate renewed· Director
- 16-07-2018 Mandate renewed· Director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Handelsbemiddeling in de groothandel in textiel, kleding, bont, schoeisel en lederwaren(46160) |
| Legal form | Public limited company(014) |
| Incorporation | 07-11-1984 |
| Status | Active |
| Postal code | 8770 |
Structure & network
Locations & real estate
Registered office
on the map · from the address register
Ingelmunster
exact location from the address register
Establishment units
1 locationPATCH
since 19902.025.717.811
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area7,734 m²
Buildings1
Building footprint1,634 m²
Volume (LiDAR)9,161 m³
Tallest building12.7 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007C0113/00D002 | Flanders | 7,734 m² | 1 · 1,634 m² | 12.7 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
4 acts Capital history · 1
07-05-2026
Capital conversion: shares: 2500
All acts · 4
updated 3 months ago
2026
07-05-2026 Notarial deed · General meeting · Share distribution · Officer resignation
- Filing: 2026-05-05 · PATCH
- Publication: 2026-05-07 · PATCH
- Notarial deed: 2025-12-05 · PATCH
- General meeting: 2025-12-05 · PATCH
- Share distribution: ratio: 10, new_shares: 2500, old_shares: 250 · PATCH
- Officer resignation: 2025-12-05 · Cnudde Patrick
- Officer reappointment: role: statutair bestuurder, term: onbepaalde duur · Verstraete Lisbet
- Mandate compensation: onbezoldigd · Verstraete Lisbet
- Statute amendment: volledig nieuwe statuten · PATCH
- Capital conversion: shares: 2500 · PATCH
- Power of attorney: bestuur · PATCH
- Annual meeting schedule: eerste zaterdag van de maand september, om elf uur · PATCH
- First fiscal year: end: 03-31, start: 04-01 · PATCH
- Representation rule: enige bestuurder · PATCH
- Representation rule: waarnemend bestuurder · PATCH
- Act object: STATUTEN (VERTALING, COORDINATIE, OVERIGE
Summary:
Notarial deed · General meeting · Share distribution · Officer resignationNotary:
Liene Van Den Bosch
2023
10-11-2023 Articles of association amended
Summary:
v3.2
04-04-2023 3 reappointed
- Cnudde Patrick, Bestuurder
- Verstraete Lisbet, Bestuurder
- Cnudde Patrick, Gedelegeerd bestuurder
Summary:
v3.2
2018
16-07-2018 1 director appointed, 2 reappointed
- CNUDDE Patrick, Gedelegeerd bestuurder
- CNUDDE Patrick, Bestuurder
- VERSTRAETE Lisbet, Bestuurder
Summary:
v3.2
Analysis
Snowflake analysis
financial profile on 5 axes41
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
16
Profitability
0
Solvency
33
Growth
58
Stability
100
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Credit advice
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Primary activity highlighted.
Names & trade names
| Legal nameNL | PATCH |
Registered office
Kortrijkstraat 121
8770 Ingelmunster, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.