Belned
ActiveBelned has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-764k) and a net result of €-132k. Equity is shrinking by ~63.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 9016 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
15
/ 100
Critical▼ -30 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability86▼-14
Solvency33▼-34
Growth32=
Stability100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.32 against 3.9 in 2023), and equity is negative.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
-44.5%
Return on assets
-7.7%
Age of the figures
20 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€764k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-08-2025, 25 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
25 d late
2023
19 d late
2022
28 d early
2021
24 d late
2020
41 d late
2019
92 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€-764k▼ 20.9%
2023 · €-632k
2018: €17k
2019: €11k
2020: €-135k
2021: €-240k
2022: €-447k
2023: €-632k
2018 → 2024
Total assets
€1.72M▼ 3.3%
2023 · €1.78M
2018: €1.86M
2019: €1.91M
2020: €1.75M
2021: €1.73M
2022: €1.67M
2023: €1.78M
2018 → 2024
Net result
€-132k▲ 28.7%
2023 · €-185k
2018: €-2k
2019: €-5k
2020: €-147k
2021: €-105k
2022: €-207k
2023: €-185k
2018 → 2024
Working capital
€-1.15M
2023 · €437k
2018: €-1.19M
2019: €474k
2020: €290k
2021: €199k
2022: €487k
2023: €437k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-135k-€-240k▼ 77.3%€-447k▼ 86.2%€-632k▼ 41.4%€-764k▼ 20.9%
Operating result€-98k-€-56k▲ 42.3%€-182k▼ 222%€-128k▲ 29.8%€-73k▲ 42.5%
Net result€-147k-€-105k▲ 28.7%€-207k▼ 97.6%€-185k▲ 10.6%€-132k▲ 28.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €73k in 2024 against €128k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.72M
Fixed assets
€1.17M▼ 1.9%
Current assets
€551k▼ 6.1%
Key figures and ratios
EBITDA
€73k▲
2023 · €32k
Cash flow
€15k▲
2023 · €-26k
Solvency
-44.5%▼
2023 · -35.6%
Current ratio
0.32▼
2023 · 3.90
Quick ratio
0.15▼
2023 · 1.57
Debt / equity
-3.25▲
2023 · -3.81
ROE
17.3%▼
2023 · 29.3%
ROA
-7.7%▲
2023 · -10.4%
Interest coverage
1.33▲
2023 · 0.55
Debt
€2.48M▲
2023 · €2.41M
Debt ≤ 1 year
€1.70M▲
2023 · €151k
Debt > 1 year
€779k▼
2023 · €2.26M
Income taxes
€246▼
2023 · €374
Staff costs
€199k▼
2023 · €219k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.78M€1.72M▼
Fixed assets21/28€1.19M€1.17M▼
Intangible fixed assets21€180k€150k▼
Tangible fixed assets22/27€1.01M€1.02M▲
Land and buildings22€739k€695k▼
Plant, machinery and equipment23€2k€9k▲
Furniture and vehicles24€253k€301k▲
Other tangible fixed assets26€14k€10k▼
Current assets29/58€587k€551k▼
Stocks and contracts in progress3€351k€297k▼
Stocks30/36€351k€297k▼
Amounts receivable within one year40/41€232k€216k▼
Trade receivables40€232k€216k▼
Cash at bank and in hand54/58€650€34k▲
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€1.78M€1.72M▼
Equity10/15€-632k€-764k▼
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-651k€-783k▼
Amounts payable17/49€2.41M€2.48M▲
Amounts payable after more than one year17€2.26M€779k▼
Financial debts170/4€2.26M€779k▼
Amounts payable within one year42/48€151k€1.70M▲
Current portion of amounts payable after more than one year42€42k-
Trade debts44€46k€47k▲
Suppliers440/4€46k€47k▲
Advances received on contracts in progress46-€1.60M
Taxes, remuneration and social security45€30k€25k▼
Taxes450/3€11k€13k▲
Remuneration and social security454/9€19k€11k▼
Other amounts payable47/48€33k€34k▲
Income statement
Code20232024
Remuneration, social security and pensions62€219k€199k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€159k€147k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€7k€5k▼
Other operating charges640/8€2k€8k▲
Gross operating margin9900€259k€286k▲
Operating profit (loss)9901€-128k€-73k▲
Financial income75/76B-€2k
Recurring financial income75-€2k
Non-recurring financial income76B-€2k
Financial charges65/66B€57k€60k▲
Recurring financial charges65€57k€55k▼
Non-recurring financial charges66B-€5k
Profit (loss) for the period before taxes9903€-185k€-132k▲
Income taxes67/77€374€246▼
Profit (loss) for the period9904€-185k€-132k▲
Profit (loss) for the period to be appropriated9905€-185k€-132k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-651k€-783k▼
Profit (loss) brought forward from the previous period14P€-466k€-651k▼
Social balance
Average headcount (FTE)90874.93.9▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 19 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-207k
Net result drops to €-207k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 5.31
Current ratio from 1.63 to 5.31; short-term debt falls from €318k to €113k.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
10-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 41 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
2019
31-12
Financial
Liquidity times 12current ratio 4.20
Current ratio from 0.35 to 4.20; short-term debt falls from €1.83M to €148k.
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 86 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2023
RONALD DEN BRAVEN HOLDING
CurrentNon-statutory director · since 13-04-2023 · Private limited company (pre-2019) · perm. rep.: RONALD DEN BRAVEN HOLDING
13-04-2023
RONALD DEN BRAVEN HOLDING: Appointed as Non-statutory director
13-04-2023
Ronald DEN BRAVEN: Resigned as Director
Location & real-estate footprint
Registered office, Hoogstraten · 1 establishment unit since 2018
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.
Vrijheid 32320 HoogstratenGround area
5,847 m²
Building footprint
160 m²
Volume, LiDAR
1,480 m³
Parcel 13014C0027/00T008, Flanders · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BELNED
since 20182.272.224.802
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13014C0027/00T008 | Flanders | 5,847 m² | 1 · 160 m² | 13.4 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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 854 EUR awarded · 854 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 854 EUR | 854 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
ISO - CHASSIS
BE 0419.389.297
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DAGMAAT
BE 0747.983.925
Roeselare · Eq €11k
SUPERCERAM
BE 0479.765.562
Sambreville · Eq €12k
HD PREFACONCEPT
BE 0777.758.569
Temse · Eq €11k
TOP HEKWERKEN
BE 1002.129.269
Stekene · Eq €12k
Of 1,794 companies in sector 46831 we hold annual accounts for 1,390. 328 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-12-2017
Fiscal year end31-12
Trade name NL
AD Products
Activities, NACEBEL
46831Wholesale of construction materials, general range
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.