Alternator
ActiveSummary
Alternator has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€186,582) and a net result of -€400. Equity is shrinking by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 2035 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▼-12
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.02 against 0.02 in 2024; short-term debt: 879.4% and cash: 1% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-928.7%
Return on assets
-2%
Age of the figures
12 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€186,582
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 18-03-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 d early
2024
45 d early
2023
31 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
65 d early
← 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 4 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 31 May (4 of the last 5 filed years within 74 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
-€186,582▼ 0.2%
2024 · -€186,182
Total assets
€20,091▼ 4.1%
2024 · €20,960
Net result
-€400
2024 · €1,577
Working capital
-€173,317▼ 0.3%
2024 · -€172,741
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,118▲ 7.5%-€5,238▼ 68.0%€2,521€1,695▼ 32.8%-€266
Net result-€2,808within the sector's middle half▲ 30.0%-€5,389below the sector's middle half▼ 91.9%€2,364within the sector's middle half€1,577within the sector's middle half▼ 33.3%-€400within the sector's middle half
Equity-€147,234below the sector's middle half▼ 1.9%-€152,622below the sector's middle half▼ 3.7%-€150,259below the sector's middle half▲ 1.5%-€186,182below the sector's middle half▼ 23.9%-€186,582below the sector's middle half▼ 0.2%
Total assets€13,097below the sector's middle half▲ 10.8%€7,113below the sector's middle half▼ 45.7%€14,560below the sector's middle half▲ 105%€20,960below the sector's middle half▲ 44.0%€20,091below the sector's middle half▼ 4.1%
Debt€160,331▲ 2.6%€159,735▼ 0.4%€164,819▲ 3.2%€207,142▲ 25.7%€206,672▼ 0.2%
Working capital-€126,287below the sector's middle half▼ 2.5%-€127,012below the sector's middle half▼ 0.6%-€127,756below the sector's middle half▼ 0.6%-€172,741below the sector's middle half▼ 35.2%-€173,317below the sector's middle half▼ 0.3%
Solvency-888.3%below the sector's middle half-928.7%below the sector's middle half▼ 40.4pp
Current ratio0.03below the sector's middle half▲ 0.010.02below the sector's middle half▼ 0.010.05below the sector's middle half▲ 0.030.02below the sector's middle half▼ 0.020.02below the sector's middle half▼ 0.01
Return on assets (ROA)-21.4%below the sector's middle half▲ 12.5pp-75.8%below the sector's middle half▼ 54.3pp16.2%within the sector's middle half▲ 92.0pp7.5%within the sector's middle half▼ 8.7pp-2.0%within the sector's middle half▼ 9.5pp
above
within
below
the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €266 after €1,695 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €19,296
Fixed assets
€15,941 ▲ 2.8%
Current assets
€3,355 ▼ 23.8%
Key figures and ratios
EBITDA
€5,898▲
2024 · €5,248
Cash flow
€5,765▲
2024 · €5,130
Debt to equity
-1.11▲
2024 · -1.11
Interest coverage
44.11▲
2024 · 40.81
Debt ≤ 1 year
€176,672▼
2024 · €177,142
Debt > 1 year
€30,000=
2024 · €30,000
Income taxes
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,332 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €124 | - | €572 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,160 | €4,471 | €2,521 | €3,553 | €6,164 | ▲ 73.5% |
| Other operating charges640/8 | €152 | €399 | €345 | €279 | €283 | ▲ 1.3% |
| Non-recurring operating charges66A | - | €279 | - | - | - | - |
| Gross operating margin9900 | €1,194 | -€88 | €5,387 | €5,527 | €6,181 | ▲ 11.8% |
| Operating profit (loss)9901 | -€3,118 | -€5,238 | €2,521 | €1,695 | -€266 | ▼ 116% |
| Financial income75/76B | - | - | - | €10 | €0 | ▼ 99.7% |
| Recurring financial income75 | - | - | - | €10 | €0 | ▼ 99.7% |
| Financial charges65/66B | -€310 | €151 | €157 | €129 | €134 | ▲ 4.0% |
| Recurring financial charges65 | -€310 | €151 | €157 | €129 | €134 | ▲ 4.0% |
| Profit (loss) for the period before taxes9903 | -€2,808 | -€5,389 | €2,364 | €1,577 | -€400 | ▼ 125% |
| Income taxes67/77 | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | -€2,808 | -€5,389 | €2,364 | €1,577 | -€400 | ▼ 125% |
| Profit (loss) for the period to be appropriated9905 | -€2,808 | -€5,389 | €2,364 | €1,577 | -€400 | ▼ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13,097 | €7,113 | €14,560 | €20,960 | €20,091 | ▼ 4.1% |
| Formation expenses20 | - | - | - | €1,054 | €795 | ▼ 24.6% |
| Fixed assets21/28 | €9,553 | €4,889 | €7,997 | €15,505 | €15,941 | ▲ 2.8% |
| Tangible fixed assets22/27 | €9,553 | €4,889 | €7,997 | €15,505 | €15,941 | ▲ 2.8% |
| Plant, machinery and equipment23 | €8,243 | €4,889 | €5,324 | €13,557 | €13,406 | ▼ 1.1% |
| Furniture and vehicles24 | €1,310 | - | €2,673 | €1,948 | €2,535 | ▲ 30.1% |
| Current assets29/58 | €3,544 | €2,223 | €6,563 | €4,400 | €3,355 | ▼ 23.8% |
| Amounts receivable within one year40/41 | €1,784 | €515 | €5,534 | €3,935 | €3,006 | ▼ 23.6% |
| Trade receivables40 | €1,449 | - | €4,311 | €3,527 | €2,557 | ▼ 27.5% |
| Other amounts receivable41 | €335 | €515 | €1,223 | €409 | €449 | ▲ 9.8% |
| Cash at bank and in hand54/58 | €1,461 | €1,491 | €863 | €218 | €199 | ▼ 8.8% |
| Deferred charges and accrued income490/1 | €299 | €218 | €166 | €247 | €150 | ▼ 39.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13,097 | €7,113 | €14,560 | €20,960 | €20,091 | ▼ 4.1% |
| Equity10/15 | -€147,234 | -€152,622 | -€150,259 | -€186,182 | -€186,582 | ▼ 0.2% |
| Contributions10/11 | €37,500 | €37,500 | €37,500 | - | - | - |
| Capital10 | €37,500 | - | - | - | - | - |
| Issued capital100 | €37,500 | - | - | - | - | - |
| Outside capital11 | - | €37,500 | €37,500 | - | - | - |
| Other1109/19 | - | €37,500 | €37,500 | - | - | - |
| Profit (loss) carried forward14 | -€184,734 | -€190,122 | -€187,759 | -€186,182 | -€186,582 | ▼ 0.2% |
| Amounts payable17/49 | €160,331 | €159,735 | €164,819 | €207,142 | €206,672 | ▼ 0.2% |
| Amounts payable after more than one year17 | €30,500 | €30,500 | €30,500 | €30,000 | €30,000 | = |
| Financial debts170/4 | €500 | €500 | €500 | - | - | - |
| Other amounts payable178/9 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Amounts payable within one year42/48 | €129,831 | €129,235 | €134,319 | €177,142 | €176,672 | ▼ 0.3% |
| Trade debts44 | €282 | €30 | €3,794 | €885 | €559 | ▼ 36.8% |
| Suppliers440/4 | €282 | €30 | €3,794 | €885 | €559 | ▼ 36.8% |
| Taxes, remuneration and social security45 | €224 | - | - | €21 | €194 | ▲ 823% |
| Taxes450/3 | €224 | - | - | €21 | €194 | ▲ 823% |
| Other amounts payable47/48 | €129,325 | €129,205 | €130,525 | €176,236 | €175,919 | ▼ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,808 | -€5,389 | €2,364 | €1,577 | -€400 | ▼ 125% |
| + Depreciation and write-downs630 | €4,160 | €4,471 | €2,521 | €3,553 | €6,164 | ▲ 73.5% |
| Operating cash flow (approximation) | €1,352 | -€917 | €4,885 | €5,130 | €5,765 | ▲ 12.4% |
| Investment in fixed assets (approximation) | - | €193 | -€5,629 | -€11,062 | -€6,600 | ▲ 40.3% |
| Change in cash | - | €30 | -€628 | -€645 | -€19 | ▲ 97.0% |
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
18-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
30-09
Financial
Back to profitnet €2,364
Net result €2,364 after 5 loss-making years.
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
25-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€7,715
Net result drops to -€7,715, the lowest in the series; recovery starts the following year.
18-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Wetteren · 1 establishment unit since 2008
Ground area
1,505 m²
Building footprint
252 m²
Volume, LiDAR
381 m³
2 parcels, Flanders · tallest building 11.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Kluize 26, 9340 Lede
since 20082.169.469.534
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41052D0019/00F000 | Flanders | 773 m² | 1 · 127 m² | 11.3 m · 1 fl. |
| 42012A0020/00N009 | Flanders | 732 m² | 1 · 125 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 75 EUR awarded · 75 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 75 EUR | 75 EUR |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 368 companies in sector 90311 we hold annual accounts for 156. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-02-2008
Fiscal year end30-09
Activities, NACEBEL 2025
90311Arts creation and performing arts activities
56301Cafés and bars
90312Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
Contact
Phone
0494/27 85 51Lede
E-invoicing
Reachable via Peppol
Peppol ID
0208:0895781241
Also
9925:BE0895781241
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.