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AXITHRA

Active
Private limited companyfounded 20233 yrs activeTechnologiepark-Zwijnaarde 82/42, 9052 Gent, BelgiumKBO/BCE: BE 0802.502.774
Summary

AXITHRA has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.0m and a net result of -€2.2m. Its solvency ranks better than 90% of 217 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability50=
Solvency100=
Growth52
Track record94
Bankruptcy probability, 12 months
1.2% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600,000 at 30 days acceptable
Liquidity ample (current ratio 17.17 against 17.33 in 2024; short-term debt: 3.8% and cash: 56.8% of total assets), and 6.9% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
93.1%
Return on assets
-25.7%
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 · 2 filings
Deviation from the deadline
2025
15 d early
2024
24 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 20 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% 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 months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

AXITHRA was incorporated on 7 June 2023 as a Private limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
€8.0m▲ 34.1%
2024 · €6.0m
Total assets
€8.6m▲ 21.1%
2024 · €7.1m
Net result
-€2.2m▼ 23.6%
2024 · -€1.8m
Working capital
€5.3m▲ 21.4%
2024 · €4.3m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 72, Scientific research and development, 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
Line20242025
Operating result-€2.0m--€2.3m▼ 17.2%
Net result-€1.8mbelow the sector's middle half--€2.2mbelow the sector's middle half▼ 23.6%
Equity€6.0mabove the sector's middle half-€8.0mabove the sector's middle half▲ 34.1%
Total assets€7.1mabove the sector's middle half-€8.6mabove the sector's middle half▲ 21.1%
Debt€1.1m-€593,772▼ 47.5%
Working capital€4.3mabove the sector's middle half-€5.3mabove the sector's middle half▲ 21.4%
Solvency84.1%above the sector's middle half-93.1%above the sector's middle half▲ 9.0pp
Current ratio17.33above the sector's middle half-17.17above the sector's middle half▼ 0.16
Return on assets (ROA)-25.2%below the sector's middle half--25.7%below the sector's middle half▼ 0.5pp
Staff (FTE)2.8within the sector's middle half-4.2within the sector's middle half▲ 50.0%
above within below the middle half (P25 to P75) of NACE 72, Scientific research and development, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€3.0m-€2.0m-€1.0m€0Operating result 2024: -€2.0m-€2.0mNet result 2024: -€1.8m-€1.8mOperating result 2025: -€2.3m-€2.3mNet result 2025: -€2.2m-€2.2m20242025-€3m-€2m-€1m€0Operating result 2024: -€2.0m-€2mNet result 2024: -€1.8m-€1.8mOperating result 2025: -€2.3m-€2.3mNet result 2025: -€2.2m-€2.2m20242025
The operating result stays negative: a loss of €2.3m in 2025 against €2.0m in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.6m
Fixed assets €3.0m ▲ 20.5%
Current assets €5.6m ▲ 21.4%
Equity and liabilities €8.6m
Equity €8.0m ▲ 34.1%
Debt €593,772 ▼ 47.5%
Debt's share of the balance-sheet total falls from 15.9% to 6.9%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€13,416▼
2024 · €140,540
Cash flow
€107,631▼
2024 · €317,304
Debt to equity
0.07▼
2024 · 0.19
ROE
-27.6%▲
2024 · -30.0%
Interest coverage
9.94▼
2024 · 129.52
Debt ≤ 1 year
€325,836▲
2024 · €265,868
Income taxes
-€95,421▲
2024 · -€177,764
Staff costs
€257,818▲
2024 · €226,996
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 3,225 companies that looked in July 2024 the way this one looks now, 3.3% went bankrupt within 24 months and 88% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
3.3% went bankrupt
8.7% stopped otherwise
88% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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 3,225 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet Code20242025
Assets
Total assets20/58€7.1m€8.6m▲
Fixed assets21/28€2.5m€3.0m▲
Intangible fixed assets21€2.2m€2.6m▲
Tangible fixed assets22/27€249,329€361,338▲
Plant, machinery and equipment23€229,652€341,120▲
Furniture and vehicles24€9,470€12,263▲
Other tangible fixed assets26€10,208€7,955▼
Financial fixed assets28€200€200=
Current assets29/58€4.6m€5.6m▲
Amounts receivable after more than one year29€490,221€273,186▼
Other amounts receivable291€490,221€273,186▼
Amounts receivable within one year40/41€1.3m€419,537▼
Trade receivables40€130€60▼
Other amounts receivable41€1.3m€419,477▼
Cash at bank and in hand54/58€2.8m€4.9m▲
Deferred charges and accrued income490/1€8,499€16,182▲
Equity and liabilities
Total equity and liabilities10/49€7.1m€8.6m▲
Equity10/15€6.0m€8.0m▲
Contributions10/11€7.8m€12.0m▲
Profit (loss) carried forward14-€1.8m-€4.0m▼
Amounts payable17/49€1.1m€593,772▼
Amounts payable within one year42/48€265,868€325,836▲
Trade debts44€237,406€288,435▲
Suppliers440/4€237,406€288,435▲
Taxes, remuneration and social security45€28,462€37,401▲
Taxes450/3-€2,121
Remuneration and social security454/9€28,462€35,280▲
Accrued charges and deferred income492/3€864,836€267,937▼
Income statement Code20242025
Remuneration, social security and pensions62€226,996€257,818▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.1m€2.3m▲
Other operating charges640/8€772€544▼
Gross operating margin9900€368,307€271,778▼
Operating profit (loss)9901-€2.0m-€2.3m▼
Financial income75/76B€85€142▲
Recurring financial income75€85€142▲
Financial charges65/66B€1,085€1,350▲
Recurring financial charges65€1,085€1,350▲
Profit (loss) for the period before taxes9903-€2.0m-€2.3m▼
Income taxes67/77-€177,764-€95,421▲
Profit (loss) for the period9904-€1.8m-€2.2m▼
Profit (loss) for the period to be appropriated9905-€1.8m-€2.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906-€1.8m-€4.0m▼
Profit (loss) brought forward from the previous period14P--€1.8m
Social balance
Average headcount (FTE)90872.84.2▲

The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Remuneration, social security and pensions62€226,996€257,818▲ 13.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.1m€2.3m▲ 10.1%
Other operating charges640/8€772€544▼ 29.5%
Gross operating margin9900€368,307€271,778▼ 26.2%
Operating profit (loss)9901-€2.0m-€2.3m▼ 17.2%
Financial income75/76B€85€142▲ 68.0%
Recurring financial income75€85€142▲ 68.0%
Financial charges65/66B€1,085€1,350▲ 24.4%
Recurring financial charges65€1,085€1,350▲ 24.4%
Profit (loss) for the period before taxes9903-€2.0m-€2.3m▼ 17.2%
Income taxes67/77-€177,764-€95,421▲ 46.3%
Profit (loss) for the period9904-€1.8m-€2.2m▼ 23.6%
Profit (loss) for the period to be appropriated9905-€1.8m-€2.2m▼ 23.6%
Line20242025Change
Assets
Total assets20/58€7.1m€8.6m▲ 21.1%
Fixed assets21/28€2.5m€3.0m▲ 20.5%
Intangible fixed assets21€2.2m€2.6m▲ 17.8%
Tangible fixed assets22/27€249,329€361,338▲ 44.9%
Plant, machinery and equipment23€229,652€341,120▲ 48.5%
Furniture and vehicles24€9,470€12,263▲ 29.5%
Other tangible fixed assets26€10,208€7,955▼ 22.1%
Financial fixed assets28€200€200=
Current assets29/58€4.6m€5.6m▲ 21.4%
Amounts receivable after more than one year29€490,221€273,186▼ 44.3%
Other amounts receivable291€490,221€273,186▼ 44.3%
Amounts receivable within one year40/41€1.3m€419,537▼ 68.7%
Trade receivables40€130€60▼ 54.0%
Other amounts receivable41€1.3m€419,477▼ 68.7%
Cash at bank and in hand54/58€2.8m€4.9m▲ 76.6%
Deferred charges and accrued income490/1€8,499€16,182▲ 90.4%
Equity and liabilities
Total equity and liabilities10/49€7.1m€8.6m▲ 21.1%
Equity10/15€6.0m€8.0m▲ 34.1%
Contributions10/11€7.8m€12.0m▲ 54.7%
Profit (loss) carried forward14-€1.8m-€4.0m▼ 124%
Amounts payable17/49€1.1m€593,772▼ 47.5%
Amounts payable within one year42/48€265,868€325,836▲ 22.6%
Trade debts44€237,406€288,435▲ 21.5%
Suppliers440/4€237,406€288,435▲ 21.5%
Taxes, remuneration and social security45€28,462€37,401▲ 31.4%
Taxes450/3-€2,121-
Remuneration and social security454/9€28,462€35,280▲ 24.0%
Accrued charges and deferred income492/3€864,836€267,937▼ 69.0%
Line20242025Change
Profit (loss) for the period9904-€1.8m-€2.2m▼ 23.6%
+ Depreciation and write-downs630€2.1m€2.3m▲ 10.1%
Operating cash flow (approximation)€317,304€107,631▼ 66.1%
Investment in fixed assets (approximation)--€2.8m-
Change in cash-€2.1m-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
21-09
State Gazette act Name clause · Registered office clause
Duration · Corporate purpose
16-07
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
07-07
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
State Gazette actNBB filing
0 of 6 acts read
About the unread acts

We know of 6 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
6 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, Gent · 2 establishment units since 2023
seat establishment All 2 establishment units on the map
Ground area
2.2 ha
Building footprint
1,923 m²
Volume, LiDAR
8,681 m³
2 parcels, Flanders, Wallonia · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
AXITHRA
Technologiepark-Zwijnaarde 82/42, 9052 GentScientific research and development
since 20232.347.040.407
Boulevard de Patience et Beaujonc 3, 4000 Liège
Other research and development on natural sciences
since 20262.391.294.577
2 parcels
Flanders 1 (50%) Wallonia 1 (50%)
Parcel (capakey) Region Area Buildings Height / fl.
62042B0366/00B003 Wallonia 1.9 ha - -
44082B0143/00K000 Flanders 2,851 m² 1 · 1,922 m² 6.3 m · 2 fl.
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.

Structure & network

Owners and holdings

3 owners

Owners 3

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Public money · subsidies and aid

Flemish government

2024 to 2025 · 3 entries · 1,560,457 EUR awarded · 1,248,000 EUR paid
Year Entries awardedpaid
2025 2 0 EUR1,248,000 EUR
2024 1 1,560,457 EUR0 EUR
Schemes
3 entries · 1,560,457 EUR · 1,248,000 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

Of 1,177 companies in sector 72109 we hold annual accounts for 717. 234 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
Founded07-06-2023
Fiscal year end31-12
Activities, NACEBEL 2025
72109Other research and development on natural sciences
32500Manufacture of medical and dental instruments and supplies
E-invoicing
Reachable via Peppol
Peppol ID 0208:0802502774
Also 9925:BE0802502774

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.