2bwatched
Active2bwatched has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89k and a net result of €-13k. Equity is growing by ~19.9% per year across the filed fiscal years. Its solvency ranks better than 21% of 6967 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
20
/ 100
Critical▼ -66 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-65
Solvency12▼-69
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.65 against 1.55 in 2024), and 86.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.1%
Return on assets
-1.8%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 6967 sector peers (2025).
NBB · sector comparisonPosition among 6967 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
27 d late
2023
29 d late
2022
31 d late
2021
31 d late
2020
20 d late
2019
66 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€89k▼ 12.4%
2024 · €101k
2018: €18k
2019: €10k
2020: €41k
2021: €66k
2022: €69k
2023: €88k
2024: €101k
2018 → 2025
Total assets
€679k▲ 209%
2024 · €220k
2018: €89k
2019: €83k
2020: €137k
2021: €152k
2022: €182k
2023: €195k
2024: €220k
2018 → 2025
Net result
€-13k
2024 · €13k
2018: €1k
2019: €-8k
2020: €31k
2021: €25k
2022: €3k
2023: €19k
2024: €13k
2018 → 2025
Working capital
€-81k
2024 · €55k
2018: €-10k
2019: €-3k
2020: €35k
2021: €61k
2022: €59k
2023: €70k
2024: €55k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€66k-€69k▲ 4.7%€88k▲ 27.3%€101k▲ 14.9%€89k▼ 12.4%
Operating result€35k-€7k▼ 79.5%€24k▲ 225%€19k▼ 17.8%€869▼ 95.5%
Net result€25k-€3k▼ 87.5%€19k▲ 508%€13k▼ 30.5%€-13k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 96% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €679k
Fixed assets
€527k▲ 714%
Current assets
€152k▼ 1.9%
Equity and liabilities €679k
Equity
€89k▼ 12.4%
Debt
€591k▲ 398%
The debt ratio rises from 53.9% to 86.9%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€22k▼
2024 · €34k
Cash flow
€9k▼
2024 · €28k
Solvency
13.1%▼
2024 · 46.1%
Current ratio
0.65▼
2024 · 1.55
Quick ratio
0.62▼
2024 · 1.50
Debt / equity
6.65▲
2024 · 1.17
ROE
-14.1%▼
2024 · 13.0%
ROA
-1.8%▼
2024 · 6.0%
Interest coverage
1.64▼
2024 · 12.90
Debt
€591k▲
2024 · €119k
Debt ≤ 1 year
€233k▲
2024 · €100k
Debt > 1 year
€357k▲
2024 · €19k
Income taxes
€67▼
2024 · €4k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€220k€679k▲
Fixed assets21/28€65k€527k▲
Tangible fixed assets22/27€65k€527k▲
Land and buildings22-€473k
Plant, machinery and equipment23€28k€18k▼
Furniture and vehicles24€6k€7k▲
Other tangible fixed assets26€31k€29k▼
Current assets29/58€155k€152k▼
Stocks and contracts in progress3€6k€7k▲
Stocks30/36€6k€7k▲
Amounts receivable within one year40/41€145k€33k▼
Trade receivables40€143k€30k▼
Other amounts receivable41€3k€3k▲
Cash at bank and in hand54/58€675€110k▲
Deferred charges and accrued income490/1€4k€3k▼
Equity and liabilities
Total equity and liabilities10/49€220k€679k▲
Equity10/15€101k€89k▼
Contributions10/11€19k€19k=
Reserves13€83k€83k=
Distributable reserves133€83k€83k=
Profit (loss) carried forward14-€-13k
Amounts payable17/49€119k€591k▲
Amounts payable after more than one year17€19k€357k▲
Financial debts170/4€19k€357k▲
Amounts payable within one year42/48€100k€233k▲
Current portion of amounts payable after more than one year42€16k€34k▲
Financial debts43€8k€101k▲
Credit institutions430/8€8k€101k▲
Trade debts44€60k€83k▲
Suppliers440/4€60k€83k▲
Taxes, remuneration and social security45€5k€5k▲
Taxes450/3€5k€5k▲
Other amounts payable47/48€12k€11k▼
Income statement
Code20242025
Non-recurring operating income76A€272€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€22k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-624€0▲
Other operating charges640/8€625€4k▲
Gross operating margin9900€34k€26k▼
Operating profit (loss)9901€19k€869▼
Financial income75/76B€0€387▲
Recurring financial income75€0€387▲
Financial charges65/66B€3k€14k▲
Recurring financial charges65€3k€14k▲
Profit (loss) for the period before taxes9903€17k€-12k▼
Income taxes67/77€4k€67▼
Profit (loss) for the period9904€13k€-13k▼
Profit (loss) for the period to be appropriated9905€13k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€13k€-13k▼
Transfer to equity691/2€13k€0▼
To other reserves6921€13k€0▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-13k ▼195%
Net result drops to €-13k, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Equity above €100kEq €101k ▲14.9%
5 profitable years in a row build equity to €101k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Back to profitnet €31k
Net result €31k after one loss-making year.
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 66 days late
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 2 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are 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, Ravels · 1 establishment unit since 2010
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.
Welvaartsstraat 12381 RavelsGround area
1,091 m²
Parcel 13048D0761/00H010, Flanders. Linked by address, not a title deed.
1 establishment unit
2bwatched
since 20102.188.471.537
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13048D0761/00H010 | Flanders | 1,091 m² | - | - |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
VGNV
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Thinktoink
BE 0898.366.587
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KWINK
BE 0453.467.080
Brugge · Eq €89k
PRIMENTO MARKETING SOLUTIONS
BE 1009.779.106
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I-DEFIX
BE 0539.847.956
Nivelles · Eq €89k
Of 9,810 companies in sector 73110 we hold annual accounts for 3,724. 3,005 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-05-2010
Fiscal year end31-12
Activities, NACEBEL
73110Advertising agencies
13300Finishing of textiles
17240Manufacture of paper and paper products
18120Other printing
18130Pre-press and pre-media services
25510Coating of metals
25610Manufacture of fabricated metal products, except machinery and equipment
95316Washing and cleaning of motor vehicles
95319Other maintenance and repair of motor vehicles
47820Retail sale of motor vehicle parts and accessories
70200Business and other management consultancy
70210Activities of head offices; management consultancy activities
70220Business consulting
73300Public relations and communication consultancy
74103Other professional, scientific and technical activities
74109Other professional, scientific and technical activities
74120Graphic design and visual communication
74140Other specialised design activities
82100Office administrative and support services
82110Office administrative, office support and other business support activities
90201Performing arts by independent artists
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.