AZAD
ActiveSummary
AZAD has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40k and a net result of €-23k. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 91% of 18280 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-93
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 6.72 against 8.1 in 2024; short-term debt: 14.4% and cash: 0% of total assets), and 14.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
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
Sector 47
higher
← 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
85.6%
Return on assets
-49.8%
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
14 d early
2023
40 d early
2022
13 d early
2021
75 d early
2020
12 d early
2019
16 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€40k▼ 36.8%
2024 · €64k
2018: €40k
2019: €41k
2020: €23k
2021: €26k
2022: €51k
2023: €50k
2024: €64k
2018 → 2025
Total assets
€47k▼ 35.2%
2024 · €73k
2018: €65k
2019: €42k
2020: €47k
2021: €32k
2022: €67k
2023: €73k
2024: €73k
2018 → 2025
Net result
€-23k
2024 · €14k
2018: €4k
2019: €1k
2020: €-17k
2021: €3k
2022: €25k
2023: €-1k
2024: €14k
2018 → 2025
Working capital
€39k▼ 38.6%
2024 · €63k
2018: €48k
2019: €40k
2020: €22k
2021: €24k
2022: €50k
2023: €49k
2024: €63k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26k-€51k▲ 96.1%€50k▼ 2.1%€64k▲ 28.0%€40k▼ 36.8%
Operating result€4k-€28k▲ 585%€-1k€17k€-25k
Net result€3k-€25k▲ 848%€-1k€14k€-23k
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 €25k after €17k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47k
Fixed assets
€2k ▲ 108%
Current assets
€46k ▼ 36.7%
Equity and liabilities €47k
Equity
€40k ▼ 36.8%
Debt
€7k ▼ 23.7%
Debt's share of the balance-sheet total rises from 12.2% to 14.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-24k▼
2024 · €17k
Cash flow
€-23k▼
2024 · €14k
Current ratio
6.72▼
2024 · 8.10
Debt to equity
0.17▲
2024 · 0.14
ROE
-58.1%▼
2024 · 21.9%
ROA
-49.8%▼
2024 · 19.2%
Interest coverage
-32.08▼
2024 · 18.99
Debt ≤ 1 year
€7k▼
2024 · €9k
Income taxes
€0▼
2024 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€73k€47k▼
Fixed assets21/28€790€2k▲
Tangible fixed assets22/27-€853
Furniture and vehicles24-€853
Financial fixed assets28€790€790=
Current assets29/58€72k€46k▼
Amounts receivable within one year40/41€68k€46k▼
Trade receivables40€30k€31k▲
Other amounts receivable41€37k€15k▼
Cash at bank and in hand54/58€4k€0▼
Deferred charges and accrued income490/1€427€0▼
Equity and liabilities
Total equity and liabilities10/49€73k€47k▼
Equity10/15€64k€40k▼
Contributions10/11€19k€19k=
Reserves13€7k€7k=
Distributable reserves133€7k€7k=
Profit (loss) carried forward14€38k€15k▼
Amounts payable17/49€9k€7k▼
Amounts payable within one year42/48€9k€7k▼
Financial debts43-€5k
Credit institutions430/8-€5k
Trade debts44-€2k
Suppliers440/4-€2k
Taxes, remuneration and social security45€9k€0▼
Taxes450/3€9k€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0€355▲
Other operating charges640/8€594€708▲
Gross operating margin9900€17k€-24k▼
Operating profit (loss)9901€17k€-25k▼
Financial income75/76B€2k€2k▲
Recurring financial income75€2k€2k▲
Financial charges65/66B€883€760▼
Recurring financial charges65€883€760▼
Profit (loss) for the period before taxes9903€18k€-23k▼
Income taxes67/77€4k€0▼
Profit (loss) for the period9904€14k€-23k▼
Profit (loss) for the period to be appropriated9905€14k€-23k▼
Appropriation of the result
Profit (loss) to be appropriated9906€38k€15k▼
Profit (loss) brought forward from the previous period14P€24k€38k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-23k
Net result drops to €-23k, the lowest in the series.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 8.10
Current ratio from 3.15 to 8.10; short-term debt falls from €23k to €9k.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €25k ▲848%
Operating result €28k, net result €25k, both a record.
17-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 5.23
Current ratio from 1.93 to 5.23; short-term debt falls from €23k to €6k.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 7current ratio 27.63
Current ratio from 4.07 to 27.63; short-term debt falls from €16k to €2k.
15-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 15 days late
2018
11-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 11 days late
2017
11-12
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 133 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Waterloo · 1 establishment unit since 1994
Ground area
631 m²
Building footprint
329 m²
Volume, LiDAR
3,892 m³
2 parcels, Brussels, Wallonia · tallest building 18.4 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
PERSEPOLIS
since 19942.065.165.731
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0058/00_000 | Wallonia | 351 m² | 1 · 57 m² | 10.2 m · 3 fl. |
| 21812N0438/00E000 | Brussels | 280 m² | 1 · 271 m² | 18.4 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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MINIMAAL
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La saveur de l'instant
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,851. 4,563 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-10-1993
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.