Balthazar
ActiveBalthazar has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €175k and a net result of €37k. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 43% of 31523 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
83
/ 100
Excellent▼ -10 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+7
Solvency89▼-7
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 1.87 against 2.38 in 2024), but 52.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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
47.2%
Return on assets
10.1%
Age of the figures
8 mo
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 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
61 d early
2023
20 d late
2022
50 d early
2021
63 d early
2020
61 d early
2019
53 d early
← before the deadline
after the deadline →
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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€175k▼ 15.4%
2024 · €206k
2018: €98k
2019: €120k
2020: €77k
2021: €74k
2022: €117k
2023: €168k
2024: €206k
2018 → 2025
Total assets
€370k▼ 8.1%
2024 · €402k
2018: €340k
2019: €351k
2020: €289k
2021: €283k
2022: €296k
2023: €402k
2024: €402k
2018 → 2025
Net result
€37k▼ 3.1%
2024 · €38k
2018: €13k
2019: €22k
2020: €-43k
2021: €-3k
2022: €43k
2023: €91k
2024: €38k
2018 → 2025
Working capital
€80k▼ 31.5%
2024 · €116k
2018: €66k
2019: €83k
2020: €30k
2021: €17k
2022: €49k
2023: €88k
2024: €116k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€74k-€117k▲ 57.8%€168k▲ 43.3%€206k▲ 22.9%€175k▼ 15.4%
Operating result€3k-€50k▲ 1,691%€134k▲ 168%€59k▼ 55.8%€58k▼ 2.1%
Net result€-3k-€43k€91k▲ 111%€38k▼ 57.6%€37k▼ 3.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €370k
Fixed assets
€198k▼ 1.6%
Current assets
€172k▼ 14.6%
Equity and liabilities €370k
Equity
€175k▼ 15.4%
Debt
€195k▼ 0.4%
The debt ratio rises from 48.7% to 52.8%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€77k▲
2024 · €73k
Cash flow
€56k▲
2024 · €52k
Solvency
47.2%▼
2024 · 51.3%
Current ratio
1.87▼
2024 · 2.38
Quick ratio
1.87▼
2024 · 2.38
Debt / equity
1.12▲
2024 · 0.95
ROE
21.4%▲
2024 · 18.6%
ROA
10.1%▲
2024 · 9.6%
Interest coverage
16.89▼
2024 · 19.77
Debt
€195k▼
2024 · €196k
Debt ≤ 1 year
€92k▲
2024 · €85k
Debt > 1 year
€103k▼
2024 · €111k
Income taxes
€16k▼
2024 · €17k
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€402k€370k▼
Fixed assets21/28€201k€198k▼
Tangible fixed assets22/27€201k€198k▼
Land and buildings22€194k€184k▼
Plant, machinery and equipment23€64-
Furniture and vehicles24€7k€13k▲
Current assets29/58€201k€172k▼
Amounts receivable within one year40/41€18k€15k▼
Trade receivables40€15k€15k=
Other amounts receivable41€3k-
Cash at bank and in hand54/58€183k€143k▼
Deferred charges and accrued income490/1-€14k
Equity and liabilities
Total equity and liabilities10/49€402k€370k▼
Equity10/15€206k€175k▼
Contributions10/11€9k€9k=
Reserves13€197k€166k▼
Distributable reserves133€197k€166k▼
Amounts payable17/49€196k€195k▼
Amounts payable after more than one year17€111k€103k▼
Financial debts170/4€111k€103k▼
Amounts payable within one year42/48€85k€92k▲
Current portion of amounts payable after more than one year42€17k€17k▼
Trade debts44€4k€8k▲
Suppliers440/4€4k€8k▲
Taxes, remuneration and social security45€64k€23k▼
Taxes450/3€64k€23k▼
Other amounts payable47/48-€45k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€19k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€75k€79k▲
Operating profit (loss)9901€59k€58k▼
Financial income75/76B€2€5▲
Recurring financial income75€2€5▲
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€56k€54k▼
Income taxes67/77€17k€16k▼
Profit (loss) for the period9904€38k€37k▼
Profit (loss) for the period to be appropriated9905€38k€37k▼
Appropriation of the result
Profit (loss) to be appropriated9906€38k€37k▼
Transfer from equity791/2-€69k
Transfer to equity691/2€38k€37k▼
To other reserves6921€38k€37k▼
Profit to be distributed694/7-€69k
Return on contributions (dividend)694-€69k
The notes to these accounts (6 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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
31-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200kEq €206k ▲22.9%
3 profitable years in a row build equity to €206k.
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
31-12
Financial
Highest result since 2018net €91k ▲111%
Operating result €134k, net result €91k, both a record.
31-12
Financial
Equity above €150kEq €168k ▲43.3%
2 profitable years in a row build equity to €168k.
11-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €43k
Net result €43k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €117k ▲57.8%
Equity rises from €74k to €117k.
29-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-43k ▼299%
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €100kEq €120k ▲22%
2 profitable years in a row build equity to €120k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 42 days late
2017
06-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 37 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Mortsel · 1 establishment unit since 2010
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.
Bloemenlei 152640 MortselGround area
295 m²
Building footprint
85 m²
Volume, LiDAR
621 m³
Parcel 11029A0184/00K006, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Balthazar
since 20102.189.760.845
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11029A0184/00K006 | Flanders | 295 m² | 1 · 85 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
BACOM
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LUPUS
BE 0465.488.449
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Dragonfly
BE 1002.718.791
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THE BIGGER PICTURE
BE 0795.534.513
Gent · Eq €175k
Of 82,215 companies in sector 70200 we hold annual accounts for 52,392. 40,503 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-06-2010
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
90201Performing arts by independent artists
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.