Checked.be
Active
BE 0447.984.305Public limited company
Woodpack
Hundelgemsebaan(Hund) 53 ·9630 Zwalm, Belgium· 34 yrs active
Sector: Other non-specialised retail sale
(47120)
Conclusion
Woodpack has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.72M and a net result of €-417k. Equity is shrinking by ~16.7% per year across the filed fiscal years. Its solvency ranks better than 78% of 249 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €1.72M |
| Net result | €-417k |
| Staff (FTE) | 2.7 |
| Better than sector | 78% |
Financial profile
50
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
43
Profitability
0
Solvency
76
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1992, 34 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.
Checked score
43
/ 100
Weak
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
€75k
estimate, not credit advice
Score history
45
2022
35
2023
35
2024
43
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.72 (≥ 1.5)
+10
Quick ratio
Quick ratio 0.04 (< 0.6)
-5
Leverage
Debt/equity 1.60 (< 2.0)
+3
Profitability
Negatieve ROE -24%
-10
Interest coverage
Interest coverage -7.8× (< 1.5×)
-10
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 24-07-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~16.7%/year over 4 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 47, Retail trade · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 38.5% | 13.9% | |
| Net result | €-417k | €19k | |
| Equity | €1.72M | €95k | |
| Gross operating margin | €-53k | €323k | |
| Staff costs | €207k | €281k |
€-264k
+7.8%
22-25
€-417k
+7.0%
22-25
€-296k
+8.4%
22-25
€4.46M
-6.4%
22-25
€1.72M
-19.5%
22-25
€1.70M
-15.1%
22-25
3
-18.2%
22-25
€207k
-10.0%
22-25
€814
+32.5%
22-25
€2.74M
+4.2%
22-25
€2.35M
+4.1%
22-25
€385k
+4.2%
22-25
1.72
-8.7%
22-25
0.04
+10.9%
22-25
38.5%
-14.0%
22-25
1.60
+29.5%
22-25
-24.3%
-15.6%
22-25
-9.4%
+0.5%
22-25
-7.78
-4.9%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | full schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €-264k | €-286k | €-89k | €20k |
| Net profit | €-417k | €-448k | €-243k | €-112k |
| Cash flow | €-296k | €-323k | €-123k | €6k |
| Staff costs | €207k | €229k | €208k | €210k |
| Income taxes | €814 | €614 | €901 | €1k |
| Dividends | - | - | - | - |
| Total assets | €4.46M | €4.76M | €5.25M | €5.36M |
| Equity | €1.72M | €2.13M | €2.58M | €2.82M |
| Debt | €2.74M | €2.63M | €2.67M | €2.53M |
| of which ≤ 1y | €2.35M | €2.26M | €2.34M | €2.44M |
| of which > 1y | €385k | €370k | €334k | €93k |
| Working capital | €1.70M | €2.01M | €2.36M | €2.35M |
| Employees (FTE) | 2.7 | 3.3 | 2.9 | 3.4 |
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 | |
|---|---|---|---|---|
| Current ratio | 1.72 | 1.89 | 2.01 | 1.96 |
| Quick ratio | 0.04 | 0.04 | 0.03 | 0.05 |
| Working capital ratio | 38.2% | 42.1% | 44.9% | 43.8% |
| Solvency | 38.5% | 44.8% | 49.1% | 52.7% |
| Debt / equity | 1.60 | 1.23 | 1.04 | 0.90 |
| Long-term debt ratio | 0.22 | 0.17 | 0.13 | 0.03 |
| Interest coverage | -7.78 | -7.42 | -2.56 | 1.41 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -9.4% | -9.4% | -4.6% | -2.1% |
| ROE | -24.3% | -21.0% | -9.4% | -4.0% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €4.46M | €4.76M | €5.25M | €5.36M |
| Fixed assets | 21/28 | €399k | €497k | €555k | €569k |
| Intangible fixed assets | 21 | €81k | €90k | €84k | €60k |
| Tangible fixed assets | 22/27 | €306k | €385k | €430k | €491k |
| Financial fixed assets | 28 | €12k | €21k | €40k | €18k |
| Current assets | 29/58 | €4.06M | €4.27M | €4.70M | €4.79M |
| Stocks & contracts in progress | 3 | €3.96M | €4.19M | €4.62M | €4.66M |
| Amounts receivable within one year | 40/41 | €30k | €40k | €32k | €90k |
| Cash & bank | 54/58 | €47k | €23k | €36k | €29k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €4.46M | €4.76M | €5.25M | €5.36M |
| Equity | 10/15 | €1.72M | €2.13M | €2.58M | €2.82M |
| Contributions / capital | 10/11 | €3.00M | €3.00M | €3.00M | €3.00M |
| Reserves | 13 | €13k | €13k | €13k | €13k |
| Accumulated profits (losses) | 14 | €-1.30M | €-881k | €-433k | €-190k |
| Amounts payable | 17/49 | €2.74M | €2.63M | €2.67M | €2.53M |
| Amounts payable after one year | 17 | €385k | €370k | €334k | €93k |
| Amounts payable within one year | 42/48 | €2.35M | €2.26M | €2.34M | €2.44M |
| Trade debts payable within one year | 44 | €282k | €156k | €207k | €300k |
| Income statement | |||||
| Gross operating margin | 9900 | €-53k | €-46k | €134k | €241k |
| Operating result | 9901 | €-384k | €-411k | €-209k | €-98k |
| Financial income | 75 | €2k | €2k | €2k | €2k |
| Financial charges | 65 | €34k | €39k | €35k | €14k |
| Result before taxes | 9903 | €-416k | €-447k | €-242k | €-110k |
| Income taxes | 67/77 | €814 | €614 | €901 | €1k |
| Net result for the period | 9904 | €-417k | €-448k | €-243k | €-112k |
| Result to be appropriated | 9905 | €-417k | €-448k | €-243k | €-112k |
Legal Structure
| NACE primary | Other non-specialised retail sale(47120) |
| Legal form | Public limited company(014) |
| Incorporation | 28-07-1992 |
| Status | Active |
| Postal code | 9630 |
Establishment units
WOODPACK
since 19922.058.929.027
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45016A0531/00W000 | Flanders | 5,248 m² | 1 · 2,581 m² | 10.8 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €-448k
Net result drops to €-448k, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 23 days late
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
07-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 38 days late
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Other non-specialised retail sale47120Retail trade47191Retail sale of household furniture47551Retail trade4759152122
Names & trade names
| Legal nameNL | Woodpack |
Similar companies
MACOMA
BE 0433.808.645 · Bilzen-Hoeselt
HEMANI
BE 0451.936.262 · Maasmechelen
NITRON
BE 0421.404.028 · Nivelles
Speck Publishing
BE 0430.781.057 · Gavere
LIGHTKOMMERZ
BE 0756.632.068 · Zaventem