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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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Age16 yrs
Real estate2 parcels · 5,492 m²
Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of SHELLTERWOOD is 1.1% (low). The 2023 annual accounts show equity of €173k and a net result of €14k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 87% of 883 sector peers (fiscal year 2023). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Signals
3 signals · with evidenceStrong solvency vs sector
Solvency is in the sector's strongest quartile: better than 87% of 883 peers (2023). A comfortable equity buffer.
View the sector comparison Consistently profitable
Positive net result in the two most recent financial years (2022 and 2023).
View the result trend Growing equity
Equity grew over 2021-2023. Profits are largely retained rather than distributed.
View the equity 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-wideAnnual accounts not filed
The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 376 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.
Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 21-06-2024, 40 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. 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 31-12-2023, that is 31-07-2024.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | 21-06-2024 | 40 d early | 2024-00161121 |
| 31-12-2022 | 31-07-2023 | 31-08-2023 | 31 d late | 2023-00424587 |
| 31-12-2021 | 31-07-2022 | 13-10-2022 | 74 d late | 2022-20459477 |
| 31-12-2020 | 31-07-2021 | 29-08-2021 | 29 d late | 2021-56900525 |
| 31-12-2019 | 31-07-2020 | 17-07-2020 | 14 d early | 2020-31400051 |
| 31-12-2018 | 31-07-2019 | 27-08-2019 | 27 d late | 2019-54400570 |
| 31-12-2017 | 31-07-2018 | 30-08-2018 | 30 d late | 2018-56700157 |
| 31-12-2016 | 31-07-2017 | 28-09-2017 | 59 d late | 2017-64200294 |
| 31-12-2015 | 31-07-2016 | 30-09-2016 | 61 d late | 2016-63400552 |
| 31-12-2014 | 31-07-2015 | 28-08-2015 | 28 d late | 2015-50100024 |
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 signalsEstablished
Founded in 2010, 16 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.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone1.1%
Low
0%0,5%1,5%4%10%≥25%
Multiple establishment units
+Annual accounts: weaker financial profile
+Higher-failure-rate sector
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€14k-94.2%
Working capital€148k+14.3%
Annual accounts & ratios
Source: NBB · 2023Annual accounts filed on 21-06-2024 with the NBB · fiscal year 2023 · verkort
Sector comparison
Fiscal year 2023 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 74.8% | 26.4% | |
| Net result | €14k | €24k | |
| Equity | €173k | €157k | |
| Gross operating margin | €36k | €179k | |
| Total assets | €231k | €921k |
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).
P87
Improving position over 2020-2023
· n=517-883
P45
Improving position over 2020-2023
· n=516-882
P51
Improving position over 2020-2023
· n=517-884
P28
Improving position over 2020-2023
· n=515-881
Describes the position versus peers, not a forecast.
€33k
-88.4%
19-23
€14k
-94.2%
19-23
€19k
-92.0%
19-23
€231k
-54.8%
19-23
€173k
+8.5%
19-23
€148k
+14.3%
19-23
€6k
-88.4%
19-23
€58k
-83.5%
19-23
€58k
-83.5%
19-23
3.55
+159.3%
19-23
3.55
+159.3%
19-23
74.8%
+140.2%
19-23
0.34
-84.8%
19-23
7.9%
-94.7%
19-23
5.9%
-87.2%
19-23
3.61
-97.0%
19-23
Figures by fiscal year
| Fiscal year | 2023 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €33k |
| Net profit | €14k |
| Cash flow | €19k |
| Staff costs | - |
| Income taxes | €6k |
| Dividends | - |
| Total assets | €231k |
| Equity | €173k |
| Debt | €58k |
| of which ≤ 1y | €58k |
| of which > 1y | - |
| Working capital | €148k |
| Employees (FTE) | - |
Ratios (computed)
| 2023 | |
|---|---|
| Current ratio | 3.55 |
| Quick ratio | 3.55 |
| Working capital ratio | 64.1% |
| Solvency | 74.8% |
| Debt / equity | 0.34 |
| Long-term debt ratio | - |
| Interest coverage | 3.61 |
| Gross margin | - |
| Net margin | - |
| ROA | 5.9% |
| ROE | 7.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €231k |
| Fixed assets | 21/28 | €25k |
| Tangible fixed assets | 22/27 | €18k |
| Financial fixed assets | 28 | €7k |
| Current assets | 29/58 | €206k |
| Amounts receivable within one year | 40/41 | €82k |
| Cash & bank | 54/58 | €121k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €231k |
| Equity | 10/15 | €173k |
| Contributions / capital | 10/11 | €20k |
| Reserves | 13 | €153k |
| Accumulated profits (losses) | 14 | €0 |
| Amounts payable | 17/49 | €58k |
| Amounts payable within one year | 42/48 | €58k |
| Trade debts payable within one year | 44 | €49k |
| Income statement | ||
| Gross operating margin | 9900 | €36k |
| Operating result | 9901 | €28k |
| Financial income | 75 | €553 |
| Financial charges | 65 | €9k |
| Result before taxes | 9903 | €19k |
| Income taxes | 67/77 | €6k |
| Net result for the period | 9904 | €14k |
| Result to be appropriated | 9905 | €14k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
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Ratios computed by Checked.
Health barometer
FY 2023 · computed86
/ 100
Excellent
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 2023. Indicative, not credit advice.
Directors
Directors & mandates
1 directorFormer directors (1)
-
Stefan MertensDirectorState Gazette act 25028479 (28-02-2025)Former- → 04-02-2025
2 events
- 04-02-2025 Resigned· Director
- 04-02-2025 Resigned· Managing director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Groothandel in hout(46832) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 13-07-2010 |
| Status | Active |
| Postal code | 2470 |
Structure & network
Locations & real estate
Registered office
on the map · from the address register
Retie
exact location from the address register
Establishment units
2 locationsFundament
since 20102.191.561.085
Fundament
since 20102.191.561.382
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area5,492 m²
Buildings2
Building footprint360 m²
Volume (LiDAR)2,360 m³
Tallest building10.6 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
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13036F0415/00G000 | Flanders | 5,372 m² | 1 · 239 m² | 10.6 m · 2 fl. |
| 13342C0771/00C000 | Flanders | 120 m² | 1 · 120 m² | 9.4 m · 2 fl. |
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.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 acts All acts · 1
updated 1 year ago
2025
28-02-2025 2 resigning
- Stefan Mertens, Bestuurder
- Stefan Mertens, Gedelegeerd bestuurder
Analysis
Snowflake analysis
financial profile on 5 axes81
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
39
Solvency
100
Growth
78
Stability
100
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Groothandel in hout46732Groothandel in hout46832
Primary activity highlighted.
Names & trade names
| Legal nameNL | SHELLTERWOOD |
| Trade nameNL | FUNDAMENT |
Registered office
Geelsebaan 45
2470 Retie, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.