AXE D'OR
ActiveSummary
The annual accounts of AXE D'OR for fiscal year 2025 show a net loss of 62% of the equity at the start of that year. The 2025 annual accounts show equity of €1.1m and a net result of -€68,351. Equity is growing by ~14% per year across the filed fiscal years. The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability22=
Solvency72▲+41
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.91 against 0.47 in 2024; short-term debt: 16.7% and cash: 6.9% of total assets), and 53% of the assets are financed with debt.
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Signals
Four 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
47%
Return on assets
-2.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
25 d late
2023
27 d early
2022
27 d early
2021
31 d early
2020
30 d early
2019
14 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 17 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 5 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.1m▲ 907%
2024 · €110,689
Total assets
€2.4m▲ 27.0%
2024 · €1.9m
Net result
-€68,351▲ 22.3%
2024 · -€87,979
Working capital
-€35,527▲ 92.5%
2024 · -€474,020
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€20,539▲ 4.9%€18,217▼ 11.3%€55,481▲ 205%-€71,814-€21,695▲ 69.8%
Net result€13,436▼ 0.6%€11,597▼ 13.7%€36,842▲ 218%-€87,979-€68,351▲ 22.3%
Equity€150,229▲ 9.8%€161,826▲ 7.7%€198,667▲ 22.8%€110,689▼ 44.3%€1.1m▲ 907%
Total assets€808,302▲ 256%€929,522▲ 15.0%€940,012▲ 1.1%€1.9m▲ 98.8%€2.4m▲ 27.0%
Debt€658,073▲ 630%€767,696▲ 16.7%€741,345▼ 3.4%€1.8m▲ 137%€1.3m▼ 28.4%
Working capital-€30,715▼ 28.8%-€35,840▼ 16.7%-€17,599▲ 50.9%-€474,020▼ 2,594%-€35,527▲ 92.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21,695 in 2025 against €71,814 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€2.0m ▲ 39.4%
Current assets
€360,962 ▼ 15.1%
Equity and liabilities €2.4m
Equity
€1.1m ▲ 907%
Debt
€1.3m ▼ 28.4%
Debt's share of the balance-sheet total falls from 94.1% to 53.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€36,249▲
2024 · €18,079
Cash flow
-€10,407▼
2024 · €1,915
Current ratio
0.91▲
2024 · 0.47
Debt to equity
1.13▼
2024 · 15.88
ROE
-6.1%▲
2024 · -79.5%
ROA
-2.9%▲
2024 · -4.7%
Interest coverage
0.78▼
2024 · 1.12
Debt ≤ 1 year
€396,489▼
2024 · €899,094
Debt > 1 year
€859,136▲
2024 · €858,537
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,687 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.6%
went bankrupt
5.4%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 497,338 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% | 1.9% |
| 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 2,687 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,927 | €14,786 | €15,356 | €89,893 | €57,944 | ▼ 35.5% |
| Other operating charges640/8 | €1,908 | €1,945 | €9,256 | €3,717 | €5,733 | ▲ 54.2% |
| Gross operating margin9900 | €36,374 | €34,947 | €80,092 | €21,797 | €41,981 | ▲ 92.6% |
| Operating profit (loss)9901 | €20,539 | €18,217 | €55,481 | -€71,814 | -€21,695 | ▲ 69.8% |
| Financial charges65/66B | €1,335 | €1,221 | €6,358 | €16,165 | €46,656 | ▲ 189% |
| Recurring financial charges65 | €1,335 | €1,221 | €6,358 | €16,165 | €46,656 | ▲ 189% |
| Profit (loss) for the period before taxes9903 | €19,204 | €16,996 | €49,122 | -€87,979 | -€68,351 | ▲ 22.3% |
| Income taxes67/77 | €5,768 | €5,399 | €12,281 | - | - | - |
| Profit (loss) for the period9904 | €13,436 | €11,597 | €36,842 | -€87,979 | -€68,351 | ▲ 22.3% |
| Profit (loss) for the period to be appropriated9905 | €13,436 | €11,597 | €36,842 | -€87,979 | -€68,351 | ▲ 22.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €808,302 | €929,522 | €940,012 | €1.9m | €2.4m | ▲ 27.0% |
| Fixed assets21/28 | €208,408 | €198,622 | €216,266 | €1.4m | €2.0m | ▲ 39.4% |
| Tangible fixed assets22/27 | €208,408 | €198,622 | €216,266 | €1.4m | €2.0m | ▲ 39.4% |
| Land and buildings22 | €207,240 | €198,038 | €216,266 | €1.4m | €2.0m | ▲ 39.0% |
| Plant, machinery and equipment23 | €1,168 | €584 | - | - | €2,111 | - |
| Furniture and vehicles24 | - | - | - | - | €3,349 | - |
| Current assets29/58 | €599,894 | €730,900 | €723,746 | €425,074 | €360,962 | ▼ 15.1% |
| Stocks and contracts in progress3 | €568,608 | €728,072 | €385,236 | €187,225 | - | - |
| Stocks30/36 | €568,608 | €728,072 | €385,236 | €187,225 | - | - |
| Amounts receivable within one year40/41 | - | - | €719 | €9,978 | €196,449 | ▲ 1,869% |
| Other amounts receivable41 | - | - | €719 | €9,978 | €196,449 | ▲ 1,869% |
| Cash at bank and in hand54/58 | €29,988 | €2,828 | €336,290 | €227,045 | €163,838 | ▼ 27.8% |
| Deferred charges and accrued income490/1 | €1,298 | - | €1,500 | €826 | €675 | ▼ 18.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €808,302 | €929,522 | €940,012 | €1.9m | €2.4m | ▲ 27.0% |
| Equity10/15 | €150,229 | €161,826 | €198,667 | €110,689 | €1.1m | ▲ 907% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €82,795 | ▲ 345% |
| Reserves13 | €14,860 | €26,360 | €26,360 | €26,360 | €816,723 | ▲ 2,998% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €13,000 | €24,500 | €26,360 | €26,360 | €816,723 | ▲ 2,998% |
| Profit (loss) carried forward14 | €116,769 | €116,866 | €153,707 | €65,729 | €215,506 | ▲ 228% |
| Amounts payable17/49 | €658,073 | €767,696 | €741,345 | €1.8m | €1.3m | ▼ 28.4% |
| Amounts payable after more than one year17 | €27,464 | €956 | - | €858,537 | €859,136 | ▲ 0.1% |
| Financial debts170/4 | €27,464 | €956 | - | €858,537 | €859,136 | ▲ 0.1% |
| Amounts payable within one year42/48 | €630,609 | €766,740 | €741,345 | €899,094 | €396,489 | ▼ 55.9% |
| Current portion of amounts payable after more than one year42 | €28,538 | €27,383 | €1,831 | €31,289 | €43,594 | ▲ 39.3% |
| Financial debts43 | - | €123,500 | - | - | €1,333 | - |
| Credit institutions430/8 | - | €123,500 | - | - | €1,333 | - |
| Trade debts44 | - | €888 | €2,732 | €6,439 | €58,948 | ▲ 815% |
| Suppliers440/4 | - | €888 | €2,732 | €6,439 | €58,948 | ▲ 815% |
| Taxes, remuneration and social security45 | €1,768 | €3,167 | €1,399 | - | - | - |
| Taxes450/3 | €1,768 | €3,167 | €1,399 | - | - | - |
| Other amounts payable47/48 | €600,303 | €611,803 | €735,382 | €861,366 | €292,614 | ▼ 66.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,985 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,436 | €11,597 | €36,842 | -€87,979 | -€68,351 | ▲ 22.3% |
| + Depreciation and write-downs630 | €13,927 | €14,786 | €15,356 | €89,893 | €57,944 | ▼ 35.5% |
| Operating cash flow (approximation) | €27,363 | €26,383 | €52,198 | €1,915 | -€10,407 | ▼ 643% |
| Investment in fixed assets (approximation) | - | -€5,000 | -€33,000 | -€1.3m | -€626,370 | ▲ 52.4% |
| Change in cash | - | -€27,160 | €333,463 | -€109,245 | -€63,207 | ▲ 42.1% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
14-01
State Gazette act
Capital & shares · RestructuringResignations: Van Grieken Geert Ludo Germaine (director) and Palmers Hilde (director) · Appointment: MOLENWEELDE (non-statutory director) · Permanent representative: Van Grieken Geert Ludo Germaine16 facts ▸
State Gazette act
Capital & shares · Restructuring
Resignations: Van Grieken Geert Ludo Germaine (director) and Palmers Hilde (director) · Appointment: MOLENWEELDE (non-statutory director) · Permanent representative: Van Grieken Geert Ludo Germaine16 facts ▸
- General meeting, 22-12-2025
- Demerger, partial split by absorption, 30-09-2025
- Accounting effect, 01-10-2025
- Capital increase, €1.072.686,37
- Share issue, 552
- Share issue, 497
- Share issue, 55
- Statutes amendment
- Director resignation, Van Grieken Geert Ludo Germaine (director)
- Director resignation, Palmers Hilde (director)
- Director discharge, Van Grieken Geert Ludo Germaine
- Director discharge, Palmers Hilde
- +4 further facts in this act
2025
31-12
Financial
Equity above €1mEq €1.1m ▲907%
Equity rises from €110,689 to €1.1m.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet -€87,979
Net result drops to -€87,979, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €36,842 ▲218%
Operating result €55,481, net result €36,842, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150,000Eq €150,229 ▲9.8%
4 profitable years in a row build equity to €150,229.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2025
Board 1
Molenweelde
CurrentNon-statutory director · since 22-12-2025 · Private limited company · perm. rep.: Van Grieken Geert Ludo Germaine
Permanent representatives 1
Van Grieken Geert Ludo Germaine
CurrentPermanent representative · since 22-12-2025 · for Molenweelde
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
8 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, Schilde · 1 establishment unit since 2008
Ground area
2,711 m²
Building footprint
446 m²
Volume, LiDAR
1,557 m³
2 parcels, Flanders · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Axe d'Or
since 20082.171.964.018
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11041C0083/00M000 | Flanders | 2,361 m² | 1 · 198 m² | 12.4 m · 3 fl. |
| 11041B0316/00N000 | Flanders | 350 m² | 1 · 247 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.
Mandate history
3 people since 2025, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Molenweelde |
|
| Palmers Hilde |
|
| VAN GRIEKEN Geert Ludo Germaine |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Acquisitions and mergers
1 transactionDemerger with:GEERT VAN GRIEKEN
Capital and shareholders
Capital over the years
- 14-01-2026 Capital increase of 1,072,686.37 EUR · 552 new shares
Identification & contact
Identification
Legal formPrivate limited company
Founded03-06-2008
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0898349266
Also
9925:BE0898349266
Registered
09-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.