B.A.D. 21 is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €763.74M and a net result of €-7.07M. Equity is growing by ~13.7% per year across the filed fiscal years. The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 05-01-2026, 36 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 · 6 filingsDeviation from the deadline
2025
36 d late
2024
59 d late
2023
1 d early
2022
22 d late
2021
24 d late
2020
442 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-04-2026 close18-09-2026 today30-11-2026 deadline
Financials · fiscal year 2025, unclassified schema, statutory
Equity
€763.74M▼ 0.9%
2024 · €770.81M
2019: €381.38M
2020: €402.30M
2021: €391.71M
2022: €389.13M
2023: €511.35M
2024: €770.81M
2019 → 2025
Net result
€-7.07M
2024 · €259.47M
2019: €10.19M
2020: €20.92M
2021: €-10.59M
2022: €-2.58M
2023: €122.22M
2024: €259.47M
2019 → 2025
Total assets
€1.20B▲ 20.6%
2024 · €994.51M
2019: €406.60M
2020: €471.15M
2021: €477.67M
2022: €548.46M
2023: €724.16M
2024: €994.51M
2019 → 2025
Solvency
63.7%▼ 13.8pp
2024 · 77.5%
2019: 93.8%
2020: 85.4%
2021: 82.0%
2022: 71.0%
2023: 70.6%
2024: 77.5%
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€789k-€140k▼ 82.2%€252k▲ 79.6%€620k▲ 147%€885k▲ 42.6%
Equity€391.71M-€389.13M▼ 0.7%€511.35M▲ 31.4%€770.81M▲ 50.7%€763.74M▼ 0.9%
Operating result€-1.56M-€-4.33M▼ 178%€-5.26M▼ 21.7%€-9.69M▼ 84.1%€-19.47M▼ 101%
Net result€-10.59M-€-2.58M▲ 75.7%€122.22M€259.47M▲ 112%€-7.07M
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19.47M in 2025 against €9.69M in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.20B
Fixed assets
€1.14B▲ 42.0%
Current assets
€60.30M▼ 68.7%
Equity and liabilities €1.20B
Equity
€763.74M▼ 0.9%
Provisions
€1.62M
Debt
€433.55M▲ 93.8%
The debt ratio rises from 22.5% to 36.2%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
63.7%▼
2024 · 77.5%
ROE
-0.9%▼
2024 · 33.7%
ROA
-0.6%▼
2024 · 26.1%
Debt
€433.55M▲
2024 · €223.70M
Debt ≤ 1 year
€20.41M▼
2024 · €79.01M
Debt > 1 year
€408.48M▲
2024 · €143.77M
Income taxes
€2.22M▲
2024 · €13k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€994.51M€1.20B▲
Fixed assets21/28€801.66M€1.14B▲
Tangible fixed assets22/27€7k€27k▲
Furniture and vehicles24€7k€27k▲
Financial fixed assets28€801.66M€1.14B▲
Affiliated companies280/1€670.82M€1.04B▲
Participating interests280€380.99M€458.67M▲
Amounts receivable281€289.83M€576.62M▲
Companies linked by participating interests282/3€7.27M€7.59M▲
Participating interests282€5.83M€5.79M▼
Amounts receivable283€1.44M€1.80M▲
Other financial fixed assets284/8€123.56M€95.71M▼
Shares284€113.39M€95.08M▼
Amounts receivable and cash guarantees285/8€10.17M€625k▼
Current assets29/58€192.85M€60.30M▼
Amounts receivable after more than one year29€212k€590k▲
Other amounts receivable291€212k€590k▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€91.36M€20.53M▼
Trade receivables40€202k€1.07M▲
Other amounts receivable41€91.16M€19.45M▼
Current investments50/53€68.96M€2.81M▼
Other investments51/53€68.96M€2.81M▼
Cash at bank and in hand54/58€31.12M€35.43M▲
Deferred charges and accrued income490/1€1.20M€952k▼
Equity and liabilities
Total equity and liabilities10/49€994.51M€1.20B▲
Equity10/15€770.81M€763.74M▼
Contributions10/11€183.34M€183.34M=
Reserves13€106.47M€106.97M▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132€81.65M€82.14M▲
Distributable reserves133€24.83M€24.83M=
Profit (loss) carried forward14€481.00M€473.43M▼
Provisions and deferred taxes16-€1.62M
Provisions for liabilities and charges160/5-€1.62M
Taxes161-€1.62M
Amounts payable17/49€223.70M€433.55M▲
Amounts payable after more than one year17€143.77M€408.48M▲
Financial debts170/4€143.77M€408.48M▲
Credit institutions173€122.50M€236.61M▲
Other loans174€21.27M€171.87M▲
Amounts payable within one year42/48€79.01M€20.41M▼
Current portion of amounts payable after more than one year42€11.59M€10.25M▼
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€7.17M€6.69M▼
Suppliers440/4€7.17M€6.69M▼
Taxes, remuneration and social security45€272k€2.36M▲
Taxes450/3€272k€2.36M▲
Other amounts payable47/48€59.97M€1.11M▼
Accrued charges and deferred income492/3€917k€4.67M▲
Income statement
Code20242025
Operating income70/76A€628k€890k▲
Turnover70€620k€885k▲
Other operating income74€7k€6k▼
Non-recurring operating income76A€0-
Operating charges60/66A€10.32M€20.36M▲
Services and other goods61€10.04M€16.17M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€3k▲
Other operating charges640/8€285k€1.54M▲
Non-recurring operating charges66A€0€2.64M▲
Operating profit (loss)9901€-9.69M€-19.47M▼
Financial income75/76B€323.74M€59.28M▼
Recurring financial income75€296.98M€58.36M▼
Income from financial fixed assets750€255.90M€25.51M▼
Income from current assets751€6.88M€11.78M▲
Other financial income752/9€34.20M€21.07M▼
Non-recurring financial income76B€26.76M€918k▼
Financial charges65/66B€54.57M€44.67M▼
Recurring financial charges65€21.13M€26.66M▲
Debt charges650€15.95M€21.34M▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€-453k€3.75M▲
Other financial charges652/9€5.63M€1.57M▼
Non-recurring financial charges66B€33.44M€18.01M▼
Profit (loss) for the period before taxes9903€259.48M€-4.86M▼
Income taxes67/77€13k€2.22M▲
Taxes670/3€13k€2.22M▲
Profit (loss) for the period9904€259.47M€-7.07M▼
Transfer to tax-exempt reserves689-€497k
Profit (loss) for the period to be appropriated9905€259.47M€-7.57M▼
Appropriation of the result
Profit (loss) to be appropriated9906€481.00M€473.43M▼
Profit (loss) brought forward from the previous period14P€221.53M€481.00M▲
The notes to these accounts (100 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
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · unclassified schema · 36 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated · 59 days late
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema · 59 days late
2024
30-04
Financial
Highest result since 2019net €259.47M ▲112%
Net result €259.47M, the highest in the series.
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
29-11
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
30-04
Financial
Back to profitnet €122.22M
Net result €122.22M after 2 loss-making years.
30-04
Financial
Liquidity doublescurrent ratio 1.60
Current ratio from 0.71 to 1.60.
30-04
Financial
Equity above €500MEq €511.35M ▲31.4%
Equity rises from €389.13M to €511.35M.
30-03
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated · 22 days late
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated · 24 days late
28-02
State Gazette act
Incorporation · Founder
Founding capital · Bank account
2022
22-12
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 22 days late
15-02
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated · 442 days late
2021
24-12
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema · 24 days late
30-04
Financial
Weakest financial yearnet €-10.59M ▼151%
Net result drops to €-10.59M, the lowest in the series; recovery starts the following year.
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
13 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, Lasne · 1 establishment unit since 2012
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Haute 211380 LasneGround area
1.4 ha
Building footprint
649 m²
Volume, LiDAR
6,208 m³
2 parcels, Brussels, Wallonia · tallest building 26.2 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
Ernestinelaan 4, 1050 Elsene
since 20122.213.199.807
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25051F0455/00B000 | Wallonia | 1.3 ha | 1 · 509 m² | 9.3 m · 2 fl. |
| 21445E0006/00T033 | Brussels | 551 m² | 1 · 141 m² | 26.2 m · 8 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.
Structure & network
Group per the LEI register
3 subsidiaries, 2 abroadSubsidiary:OTIUM SECURITIES
Indirect subsidiary:ALFEOR TSM
Indirect subsidiary:SCI DU DOMAINE DE CHALES
Recognitions · licences · registrations
Legal Entity Identifier
254900O3YJ5OHQJYBK04
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Of 24,725 companies in sector 64210 we hold annual accounts for 19,754. 462 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded26-09-2012
Fiscal year end30-04
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.