XAVIER ETIENNE
ActiveThe computed 12-month bankruptcy probability of XAVIER ETIENNE is 1.5% (moderate). The 2024 annual accounts show equity of €241k and a net result of €24k. Equity is shrinking by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 21% of 1125 sector peers (fiscal year 2024). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability70▲+9
Solvency38▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity short (current ratio 0.64 against 0.82 in 2023; short-term debt: 71% and cash: 8.1% of total assets), and 87.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 1125 sector peers (2024).
NBB · sector comparisonPosition among 1125 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-08-2025, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
18 d late
2023
90 d late
2022
91 d late
2021
2 d late
2020
68 d late
2019
53 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€24k
2023 · €-107k
2018: €48k
2019: €-5k
2020: €58k
2021: €14k
2022: €-65k
2023: €-107k
2018 → 2024
Working capital
€-485k▼ 152%
2023 · €-193k
2018: €222k
2019: €-12k
2020: €-30k
2021: €-79k
2022: €-158k
2023: €-193k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€375k-€389k▲ 3.7%€324k▼ 16.7%€217k▼ 33.0%€241k▲ 10.8%
Operating result€70k-€28k▼ 59.6%€-52k€-89k▼ 70.6%€38k
Net result€58k-€14k▼ 76.1%€-65k€-107k▼ 63.9%€24k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €38k after a loss of €89k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.88M
Fixed assets
€1.03M▲ 12.3%
Current assets
€850k▼ 0.7%
Equity and liabilities €1.88M
Equity
€241k▲ 10.8%
Debt
€1.64M▲ 5.4%
The debt ratio falls from 87.7% to 87.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€295k▲
2023 · €158k
Cash flow
€280k▲
2023 · €140k
Solvency
12.8%▲
2023 · 12.3%
Current ratio
0.64▼
2023 · 0.82
Quick ratio
0.64▼
2023 · 0.82
Debt / equity
6.80▼
2023 · 7.16
ROE
9.8%▲
2023 · -49.2%
ROA
1.3%▲
2023 · -6.0%
Interest coverage
21.18▲
2023 · 9.18
Debt
€1.64M▲
2023 · €1.55M
Debt ≤ 1 year
€1.33M▲
2023 · €1.05M
Debt > 1 year
€303k▼
2023 · €506k
Income taxes
€457▼
2023 · €495
Staff costs
€273k▼
2023 · €364k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.77M€1.88M▲
Fixed assets21/28€916k€1.03M▲
Tangible fixed assets22/27€915k€1.03M▲
Land and buildings22€262k€247k▼
Plant, machinery and equipment23€21k€10k▼
Furniture and vehicles24€144k€472k▲
Leasing and similar rights25€488k€299k▼
Financial fixed assets28€540€540=
Current assets29/58€856k€850k▼
Amounts receivable within one year40/41€661k€636k▼
Trade receivables40€581k€537k▼
Other amounts receivable41€80k€99k▲
Cash at bank and in hand54/58€166k€153k▼
Deferred charges and accrued income490/1€29k€62k▲
Equity and liabilities
Total equity and liabilities10/49€1.77M€1.88M▲
Equity10/15€217k€241k▲
Contributions10/11€19k€19k=
Reserves13€172k€172k=
Tax-exempt reserves132€170k€170k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€27k€50k▲
Amounts payable17/49€1.55M€1.64M▲
Amounts payable after more than one year17€506k€303k▼
Financial debts170/4€506k€303k▼
Amounts payable within one year42/48€1.05M€1.33M▲
Current portion of amounts payable after more than one year42€214k€172k▼
Trade debts44€610k€627k▲
Suppliers440/4€610k€627k▲
Taxes, remuneration and social security45€49k€39k▼
Taxes450/3€17k€14k▼
Remuneration and social security454/9€32k€25k▼
Other amounts payable47/48€175k€496k▲
Income statement
Code20232024
Remuneration, social security and pensions62€364k€273k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€247k€257k▲
Other operating charges640/8€14k€52k▲
Gross operating margin9900€536k€619k▲
Operating profit (loss)9901€-89k€38k▲
Financial income75/76B€30€32▲
Recurring financial income75€30€32▲
Financial charges65/66B€17k€14k▼
Recurring financial charges65€17k€14k▼
Profit (loss) for the period before taxes9903€-106k€24k▲
Income taxes67/77€495€457▼
Profit (loss) for the period9904€-107k€24k▲
Profit (loss) for the period to be appropriated9905€-107k€24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€50k▲
Profit (loss) brought forward from the previous period14P€134k€27k▼
Social balance
Average headcount (FTE)90877.58.8▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 18 days late
2024
31-12
Financial
Back to profitnet €24k
Net result €24k after 2 loss-making years.
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 90 days late
2023
31-12
Financial
Weakest financial yearnet €-107k
Net result drops to €-107k, the lowest in the series; recovery starts the following year.
30-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 91 days late
2022
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
2021
07-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 68 days late
2020
31-12
Financial
Back to profitnet €58k
Net result €58k after one loss-making year.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 53 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2018
23-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 115 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 59 days late
2016
27-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Modave · 2 establishment units since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Tige de Strée 474577 ModaveGround area
8,478 m²
Building footprint
1,397 m²
Volume, LiDAR
7,379 m³
2 parcels, Wallonia · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Rue Tige de Strée 47, 4577 Modave
since 20022.098.923.513
Xavier ETIENNE
since 20192.291.055.569
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61064C0237/00L007 | Wallonia | 4,927 m² | 1 · 1,165 m² | 6.8 m · 2 fl. |
| 61064B0242/00F000 | Wallonia | 3,551 m² | 1 · 232 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesModave2.291.055.569
Modave2.098.923.513
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Of 12,605 companies in sector 49410 we hold annual accounts for 8,195. 6,058 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-02-2002
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.