AXEL
ActiveSummary
AXEL has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43,671 and a net result of €19,693. Equity is growing by ~44.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-9
Solvency47▲+10
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 0.75 in 2024; short-term debt: 22.9% and cash: 2.5% of total assets), and 77.8% of the assets are financed with debt.
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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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-11-2025, 30 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
30 d late
2024
2 d early
2023
6 d early
2022
2 d late
2021
24 d early
2020
1 d early
2019
23 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 3 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 29 October (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€81,288
EBIT margin
40.2%
Net result
€19,693▼ 24.6%
2024 · €26,106
Working capital
€5,835
2024 · -€10,548
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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€81,288
Operating result€21,476€15,693▼ 26.9%€19,444▲ 23.9%€32,695▲ 68.1%€26,124▼ 20.1%
Net result€10,601within the sector's middle half€6,905within the sector's middle half▼ 34.9%€11,385within the sector's middle half▲ 64.9%€26,106within the sector's middle half▲ 129%€19,693within the sector's middle half▼ 24.6%
EBIT margin40.2%
Equity-€20,420below the sector's middle half▲ 34.2%-€13,515below the sector's middle half▲ 33.8%-€2,129below the sector's middle half▲ 84.2%€23,977within the sector's middle half€43,671within the sector's middle half▲ 82.1%
Total assets€212,269within the sector's middle half▼ 4.3%€192,375within the sector's middle half▼ 9.4%€176,941within the sector's middle half▼ 8.0%€192,677within the sector's middle half▲ 8.9%€196,937within the sector's middle half▲ 2.2%
Debt€232,689▼ 8.0%€205,890▼ 11.5%€179,070▼ 13.0%€168,700▼ 5.8%€153,267▼ 9.1%
Working capital-€50,038within the sector's middle half▲ 18.2%-€42,334within the sector's middle half▲ 15.4%-€34,108within the sector's middle half▲ 19.4%-€10,548within the sector's middle half▲ 69.1%€5,835within the sector's middle half
Solvency-9.6%below the sector's middle half▲ 4.4pp-7.0%below the sector's middle half▲ 2.6pp-1.2%below the sector's middle half▲ 5.8pp12.4%within the sector's middle half▲ 13.6pp22.2%within the sector's middle half▲ 9.7pp
Current ratio0.12below the sector's middle half▲ 0.110.04below the sector's middle half▼ 0.080.03below the sector's middle half=0.75within the sector's middle half▲ 0.721.13within the sector's middle half▲ 0.38
Return on assets (ROA)5.0%within the sector's middle half▲ 187.8pp3.6%within the sector's middle half▼ 1.4pp6.4%within the sector's middle half▲ 2.8pp13.5%above the sector's middle half▲ 7.1pp10.0%above the sector's middle half▼ 3.5pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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 falls in 2025; 2025 is 20% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €196,937
Fixed assets
€146,091 ▼ 9.2%
Current assets
€50,847 ▲ 60.4%
Equity and liabilities €196,937
Equity
€43,671 ▲ 82.1%
Debt
€153,267 ▼ 9.1%
Debt's share of the balance-sheet total falls from 87.6% to 77.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€41,013▼
2024 · €47,469
Cash flow
€34,583▼
2024 · €40,880
Debt to equity
3.51▼
2024 · 7.04
ROE
45.1%▼
2024 · 108.9%
Interest coverage
6.38▼
2024 · 6.57
Debt ≤ 1 year
€45,012▲
2024 · €42,244
Debt > 1 year
€108,255▼
2024 · €126,455
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,815 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 3,815 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 | - | - | - | €81,288 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €25,645 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,598 | €14,984 | €14,985 | €14,774 | €14,890 | ▲ 0.8% |
| Other operating charges640/8 | - | €6,121 | €7,622 | €8,319 | €8,692 | ▲ 4.5% |
| Gross operating margin9900 | €44,191 | €36,798 | €42,051 | €55,788 | €49,705 | ▼ 10.9% |
| Operating profit (loss)9901 | €21,476 | €15,693 | €19,444 | €32,695 | €26,124 | ▼ 20.1% |
| Financial income75/76B | - | - | - | €641 | €1 | ▼ 99.9% |
| Recurring financial income75 | - | - | - | €641 | €1 | ▼ 99.9% |
| Financial charges65/66B | - | €8,788 | €8,059 | €7,230 | €6,431 | ▼ 11.0% |
| Recurring financial charges65 | €10,875 | €8,788 | €8,059 | €7,230 | €6,431 | ▼ 11.0% |
| Profit (loss) for the period before taxes9903 | €10,601 | €6,905 | €11,385 | €26,106 | €19,693 | ▼ 24.6% |
| Profit (loss) for the period9904 | €10,601 | €6,905 | €11,385 | €26,106 | €19,693 | ▼ 24.6% |
| Profit (loss) for the period to be appropriated9905 | €10,601 | €6,905 | €11,385 | €26,106 | €19,693 | ▼ 24.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €212,269 | €192,375 | €176,941 | €192,677 | €196,937 | ▲ 2.2% |
| Fixed assets21/28 | €205,723 | €190,739 | €175,754 | €160,980 | €146,091 | ▼ 9.2% |
| Tangible fixed assets22/27 | €204,757 | €189,773 | €174,789 | €160,015 | €145,125 | ▼ 9.3% |
| Land and buildings22 | - | €189,773 | €174,789 | €160,015 | €145,125 | ▼ 9.3% |
| Financial fixed assets28 | €966 | €966 | €965 | €966 | €966 | = |
| Current assets29/58 | €6,546 | €1,636 | €1,187 | €31,697 | €50,847 | ▲ 60.4% |
| Amounts receivable within one year40/41 | - | - | - | €27,863 | €45,961 | ▲ 65.0% |
| Other amounts receivable41 | - | - | - | €27,863 | €45,961 | ▲ 65.0% |
| Cash at bank and in hand54/58 | €6,303 | €1,330 | €278 | €1,713 | €4,885 | ▲ 185% |
| Deferred charges and accrued income490/1 | - | €306 | €909 | €2,120 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €212,269 | €192,375 | €176,941 | €192,677 | €196,937 | ▲ 2.2% |
| Equity10/15 | -€20,420 | -€13,515 | -€2,129 | €23,977 | €43,671 | ▲ 82.1% |
| Contributions10/11 | - | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Outside capital11 | - | - | - | - | €61,973 | - |
| Share premium1100/10 | - | - | - | - | €61,973 | - |
| Reserves13 | €191,197 | €191,197 | €191,198 | €191,197 | €191,197 | = |
| Non-distributable reserves130/1 | - | €6,197 | €6,198 | €6,197 | €6,197 | = |
| Reserves not available under the articles1311 | - | €6,197 | €6,198 | €6,197 | €6,197 | = |
| Distributable reserves133 | - | €185,000 | €185,000 | €185,000 | €185,000 | = |
| Profit (loss) carried forward14 | -€273,590 | -€266,685 | -€255,300 | -€229,193 | -€209,500 | ▲ 8.6% |
| Amounts payable17/49 | €232,689 | €205,890 | €179,070 | €168,700 | €153,267 | ▼ 9.1% |
| Amounts payable after more than one year17 | €176,105 | €160,314 | €143,775 | €126,455 | €108,255 | ▼ 14.4% |
| Financial debts170/4 | - | €160,314 | €143,775 | €126,455 | €108,255 | ▼ 14.4% |
| Amounts payable within one year42/48 | €56,584 | €43,970 | €35,295 | €42,244 | €45,012 | ▲ 6.6% |
| Current portion of amounts payable after more than one year42 | - | €28,792 | €29,538 | €30,320 | €31,200 | ▲ 2.9% |
| Trade debts44 | €4,529 | €3,779 | €2,130 | €11,924 | €13,812 | ▲ 15.8% |
| Suppliers440/4 | - | €3,779 | €2,130 | €11,924 | €13,812 | ▲ 15.8% |
| Other amounts payable47/48 | - | €11,399 | €3,627 | - | - | - |
| Accrued charges and deferred income492/3 | - | €1,606 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,601 | €6,905 | €11,385 | €26,106 | €19,693 | ▼ 24.6% |
| + Depreciation and write-downs630 | €15,598 | €14,984 | €14,985 | €14,774 | €14,890 | ▲ 0.8% |
| Operating cash flow (approximation) | €26,199 | €21,889 | €26,370 | €40,880 | €34,583 | ▼ 15.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0 | €0 | ▲ 100% |
| Change in cash | - | -€4,973 | -€1,052 | €1,435 | €3,172 | ▲ 121% |
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
2025
30-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
02-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2021
07-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Back to profitnet €10,601
Net result €10,601 after one loss-making year.
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Weakest financial yearnet -€405,524
Net result drops to -€405,524, the lowest in the series; recovery starts the following year.
2019
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
10-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Anderlecht · 1 establishment unit since 1998
Ground area
280 m²
Building footprint
228 m²
Volume, LiDAR
2,841 m³
Parcel 21305B0204/00E035, Brussels · tallest building 23.0 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Axel
since 19982.176.773.139
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21305B0204/00E035 | Brussels | 280 m² | 1 · 228 m² | 23.0 m · 4 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.
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 4,760 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded02-10-1998
Fiscal year end31-03
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationExtraordinary general meeting
Agenda
Jaarverslag. Goedkeuring jaarrekening. Bestemming resultaat. Kwijting bestuurders. (Her)Benoemingen. Divers. (AOPC1808361/03.10) (36652) BEA CENTER, naamloze vennootschap, Stalenstraat 211/2, 3600 GENK Ondernemingsnummer 0428.114.250 Algemene vergadering ter zetel op 24/10/2008, om 20 uur. Agenda : Jaarrapport. Goedkeuring jaarrekening. Bestemming resultaat. Kwij- ting bestuurders. (Her)Benoemingen. Divers. (AOPC-1-8-07087/03.10) (36653) CALIFORNIA PLASTICS, naamloze vennootschap, Berchemstraat 124, 9690 KLUISBERGEN Ondernemingsnummer 0403.664.114 Algemene vergadering ter zetel op 24/10/2008, om 18 uur. Agenda : Jaarverslag. Goedkeuring jaarrekening. Bestemming resultaat. Kwijting bestuurder ...