ALTERNATIVE
ActiveSummary
ALTERNATIVE has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36,944 and a net result of -€8,605. Equity is growing by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 90% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-56
Solvency100▲+8
Growth65▼-17
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 4.38 against 1.83 in 2024; short-term debt: 17.8% and cash: 62.2% of total assets), and 18.9% of the assets are financed with debt.
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Signals
Six 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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 · 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
81.1%
Return on assets
-18.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€8,605
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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
21 d late
2024
30 d late
2023
97 d late
2022
25 d late
2021
29 d late
2020
30 d late
2019
40 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 39 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€165,706▲ 1.0%
2023 · €164,103
EBIT margin
-0.7%▼ 14.9pp
2023 · 14.2%
Net result
-€8,605▼ 426%
2024 · -€1,636
Working capital
€27,493▲ 8.0%
2024 · €25,447
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€120,662€164,103▲ 36.0%€165,706▲ 1.0%
Operating result€11,160▼ 18.4%-€4,832€23,287-€1,134-€8,520▼ 651%
Net result€9,800within the sector's middle half▼ 27.4%-€4,988below the sector's middle half€19,849within the sector's middle half-€1,636within the sector's middle half-€8,605below the sector's middle half▼ 426%
EBIT margin-4.0%14.2%▲ 18.2pp-0.7%▼ 14.9pp
Equity€50,843within the sector's middle half▲ 23.9%€45,856within the sector's middle half▼ 9.8%€65,704within the sector's middle half▲ 43.3%€64,069within the sector's middle half▼ 2.5%€36,944below the sector's middle half▼ 42.3%
Total assets€53,739below the sector's middle half▲ 17.8%€52,797below the sector's middle half▼ 1.8%€81,058within the sector's middle half▲ 53.5%€95,319within the sector's middle half▲ 17.6%€45,559below the sector's middle half▼ 52.2%
Debt€2,895▼ 36.5%€6,942▲ 140%€15,353▲ 121%€31,250▲ 104%€8,615▼ 72.4%
Working capital€32,386within the sector's middle half▼ 0.3%€25,463within the sector's middle half▼ 21.4%€48,046within the sector's middle half▲ 88.7%€25,447within the sector's middle half▼ 47.0%€27,493within the sector's middle half▲ 8.0%
Solvency94.6%above the sector's middle half▲ 4.6pp86.9%above the sector's middle half▼ 7.8pp81.1%above the sector's middle half▼ 5.8pp67.2%above the sector's middle half▼ 13.8pp81.1%above the sector's middle half▲ 13.9pp
Current ratio12.19above the sector's middle half▲ 4.064.67above the sector's middle half▼ 7.524.13above the sector's middle half▼ 0.541.83within the sector's middle half▼ 2.304.38above the sector's middle half▲ 2.56
Return on assets (ROA)18.2%above the sector's middle half▼ 11.4pp-9.4%below the sector's middle half▼ 27.7pp24.5%above the sector's middle half▲ 33.9pp-1.7%within the sector's middle half▼ 26.2pp-18.9%below the sector's middle half▼ 17.2pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8,520 in 2025 against €1,134 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45,559
Fixed assets
€9,941 ▼ 74.6%
Current assets
€35,618 ▼ 36.7%
Equity and liabilities €45,559
Equity
€36,944 ▼ 42.3%
Debt
€8,615 ▼ 72.4%
Debt's share of the balance-sheet total falls from 32.8% to 18.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€4,719▼
2024 · €5,722
Cash flow
-€4,804▼
2024 · €5,221
Debt to equity
0.23▼
2024 · 0.49
ROE
-23.3%▼
2024 · -2.6%
Interest coverage
-17.38▼
2024 · 22.86
Debt ≤ 1 year
€8,125▼
2024 · €30,791
Staff costs
€17,877▼
2024 · €48,362
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,815 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 88% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.9%
went bankrupt
9.8%
stopped otherwise
88%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,815 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €120,662 | €164,103 | €165,706 | - | - |
| Non-recurring operating income76A | €2,673 | - | €1,973 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €55,858 | €111,936 | €100,185 | €100,369 | - | - |
| Remuneration, social security and pensions62 | €434 | €4,264 | €24,719 | €48,362 | €17,877 | ▼ 63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,531 | €8,295 | €7,119 | €6,857 | €3,801 | ▼ 44.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €1,920 | - | - |
| Other operating charges640/8 | €1,060 | €984 | €5,220 | €8,852 | €1,367 | ▼ 84.6% |
| Non-recurring operating charges66A | - | €14 | €5,549 | €480 | €7,091 | ▲ 1,377% |
| Gross operating margin9900 | €16,185 | €8,726 | €65,892 | €65,337 | €21,616 | ▼ 66.9% |
| Operating profit (loss)9901 | €11,160 | -€4,832 | €23,287 | -€1,134 | -€8,520 | ▼ 651% |
| Financial income75/76B | - | €132 | €0 | €999 | €187 | ▼ 81.3% |
| Recurring financial income75 | - | €132 | €0 | €999 | €187 | ▼ 81.3% |
| Financial charges65/66B | €174 | €288 | €281 | €250 | €272 | ▲ 8.5% |
| Recurring financial charges65 | €174 | €288 | €281 | €250 | €272 | ▲ 8.5% |
| Profit (loss) for the period before taxes9903 | €10,986 | -€4,988 | €23,005 | -€386 | -€8,605 | ▼ 2,131% |
| Income taxes67/77 | €1,186 | - | €3,156 | €1,250 | - | - |
| Profit (loss) for the period9904 | €9,800 | -€4,988 | €19,849 | -€1,636 | -€8,605 | ▼ 426% |
| Profit (loss) for the period to be appropriated9905 | €9,800 | -€4,988 | €19,849 | -€1,636 | -€8,605 | ▼ 426% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €53,739 | €52,797 | €81,058 | €95,319 | €45,559 | ▼ 52.2% |
| Fixed assets21/28 | €18,457 | €20,393 | €17,658 | €39,080 | €9,941 | ▼ 74.6% |
| Tangible fixed assets22/27 | €18,307 | €20,243 | €17,508 | €38,930 | €9,791 | ▼ 74.9% |
| Furniture and vehicles24 | €18,307 | €20,243 | €17,508 | €38,930 | €9,791 | ▼ 74.9% |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €35,282 | €32,405 | €63,400 | €56,239 | €35,618 | ▼ 36.7% |
| Stocks and contracts in progress3 | €7,100 | - | €6,400 | €4,480 | - | - |
| Stocks30/36 | €7,100 | - | €6,400 | €4,480 | - | - |
| Amounts receivable within one year40/41 | €13,613 | €13,969 | €11,405 | €21,118 | €6,281 | ▼ 70.3% |
| Trade receivables40 | €329 | - | - | - | €2,510 | - |
| Other amounts receivable41 | €13,284 | €13,969 | €11,405 | €21,118 | €3,771 | ▼ 82.1% |
| Cash at bank and in hand54/58 | €13,203 | €18,436 | €43,572 | €30,640 | €28,324 | ▼ 7.6% |
| Deferred charges and accrued income490/1 | €1,366 | - | €2,023 | - | €1,013 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €53,739 | €52,797 | €81,058 | €95,319 | €45,559 | ▼ 52.2% |
| Equity10/15 | €50,843 | €45,856 | €65,704 | €64,069 | €36,944 | ▼ 42.3% |
| Contributions10/11 | €19,000 | €19,000 | €19,000 | €19,000 | - | - |
| Capital10 | - | - | - | €19,000 | - | - |
| Issued capital100 | - | - | - | €19,000 | - | - |
| Reserves13 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Non-distributable reserves130/1 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Profit (loss) carried forward14 | €29,943 | €24,956 | €44,804 | €43,169 | €35,044 | ▼ 18.8% |
| Amounts payable17/49 | €2,895 | €6,942 | €15,353 | €31,250 | €8,615 | ▼ 72.4% |
| Amounts payable within one year42/48 | €2,895 | €6,942 | €15,353 | €30,791 | €8,125 | ▼ 73.6% |
| Trade debts44 | €821 | €17 | €3,165 | €5,620 | €2,369 | ▼ 57.8% |
| Suppliers440/4 | €821 | €17 | €3,165 | €5,620 | €2,369 | ▼ 57.8% |
| Taxes, remuneration and social security45 | €2,075 | €6,924 | €12,189 | €10,170 | €5,756 | ▼ 43.4% |
| Taxes450/3 | €2,075 | €2,763 | €5,506 | €1,649 | €3,844 | ▲ 133% |
| Remuneration and social security454/9 | - | €4,162 | €6,683 | €8,521 | €1,912 | ▼ 77.6% |
| Other amounts payable47/48 | - | - | - | €15,001 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €459 | €490 | ▲ 6.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,800 | -€4,988 | €19,849 | -€1,636 | -€8,605 | ▼ 426% |
| + Depreciation and write-downs630 | €3,531 | €8,295 | €7,119 | €6,857 | €3,801 | ▼ 44.6% |
| Operating cash flow (approximation) | €13,331 | €3,308 | €26,967 | €5,221 | -€4,804 | ▼ 192% |
| Investment in fixed assets (approximation) | - | -€10,231 | -€4,384 | -€28,279 | €25,338 | ▲ 190% |
| Change in cash | - | €5,233 | €25,136 | -€12,931 | -€2,316 | ▲ 82.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
30-07
State Gazette act
Resignations: LAKHAL AHMED, WADI AHMED and HAMDANI ABDELMOUNIMAppointment: STILI OMAR (actionnaire et administrateur) · Share transfer · Shareholding10 facts ▸
State Gazette act
Resignations: LAKHAL AHMED, WADI AHMED and HAMDANI ABDELMOUNIM
Appointment: STILI OMAR (actionnaire et administrateur) · Share transfer · Shareholding10 facts ▸
- General meeting, 22-07-2026
- Director resignation, LAKHAL AHMED (actionnaire et administrateur)
- Director resignation, WADI AHMED (actionnaire et administrateur)
- Director resignation, HAMDANI ABDELMOUNIM (actionnaire et administrateur)
- Director appointment, STILI OMAR (actionnaire et administrateur)
- Share transfer, HAMDANI ABDELMOUNIM → HUSSAIN SHAHADAT
- Shareholding, 22-07-2026, 98
- Shareholding, 22-07-2026, 2
- Share transfer, LAKHAL AHMED → STILI OMAR
- Share transfer, WADI AHMED → STILI OMAR
15-07
State Gazette act
Appointment: HUSSAIN Shahadat (director)5 facts ▸
State Gazette act
Appointment: HUSSAIN Shahadat (director)
5 facts ▸
- General meeting, 06-07-2026
- Director appointment, HUSSAIN Shahadat (director)
- Director in office, LAKHAL Ahmed (director)
- Director in office, WADI Ahmed (director)
- Director in office, HUSSAIN Shahadat (director)
2025
31-12
Financial
Weakest financial yearnet -€8,605
Net result drops to -€8,605, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 4.38
Current ratio from 1.83 to 4.38; short-term debt falls from €30,791 to €8,125.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
05-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 97 days late
2023
31-12
Financial
Back to profitnet €19,849
Net result €19,849 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 40 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €4,283
Net result €4,283 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 7.15
Current ratio from 2.89 to 7.15; short-term debt falls from €6,886 to €3,634.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 2 have been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Board 2
HUSSAIN Shahadat
CurrentDirector · since 06-07-2026
STILI OMAR
CurrentActionnaire et administrateur · since 22-07-2026
Other functions 1
STILI OMAR
CurrentActionnaire et administrateur · since 22-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
7 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2008
Ground area
1,574 m²
Building footprint
1,579 m²
Volume, LiDAR
46,471 m³
Parcel 21807G0135/00T003, Brussels · tallest building 46.6 m, ±13 floors. Linked by address, not a title deed.
284
companies at this address
See who is registered here
1 establishment unit
ALTERNATIVE
since 20082.171.994.306
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
5 people since 2026, 2 in office
- Board
- Other function
- began earlier
| Name | Functions and periods |
|---|---|
| HUSSAIN Shahadat |
|
| STILI OMAR |
|
| HAMDANI ABDELMOUNIM |
|
| LAKHAL Ahmed |
|
| WADI Ahmed |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 30-07-2026 ↗
- STILI OMAR 98 shares
- HUSSAIN SHAHADAT 2 shares
Share transfer
act of 30-07-2026 ↗
- HAMDANI ABDELMOUNIM to HUSSAIN SHAHADAT 2 shares
- LAKHAL AHMED to STILI OMAR 98 shares
- WADI AHMED to STILI OMAR 98 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 10,664 companies in sector 47811 we hold annual accounts for 5,226. 3,118 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-07-2008
Fiscal year end31-12
Activities, NACEBEL 2025
47811Retail sale of cars and light vans (up to 3.5 tonnes)
46711Wholesale of cars and light vans (up to 3.5 tonnes)
49330On-demand passenger transport by chauffeured vehicle
E-invoicing
Reachable via Peppol
Peppol ID
0208:0899280466
Registered
28-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.