BELRIVE
ActiveBELRIVE has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €544k and a net result of €-17k. Equity is growing by ~24.8% per year across the filed fiscal years. Its solvency ranks better than 80% of 112 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability16▼-61
Solvency94▼-5
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 3.01 against 3.62 in 2024; short-term debt: 30.6% and cash: 37.3% of total assets), and 31.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 30
Relative position
BE, all sectors
reference
Sector 30
higher
← fewer bankruptcies
more bankruptcies →
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
2 d early
2023
6 d early
2022
32 d early
2021
31 d late
2020
97 d early
2019
17 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-17k
2024 · €52k
2018: €35k
2019: €42k
2020: €41k
2021: €151k
2022: €112k
2023: €108k
2024: €52k
2018 → 2025
Working capital
€486k▼ 6.1%
2024 · €518k
2018: €18k
2019: €46k
2020: €74k
2021: €242k
2022: €355k
2023: €459k
2024: €518k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€289k-€401k▲ 38.9%€509k▲ 27.0%€561k▲ 10.2%€544k▼ 3.1%
Operating result€191k-€151k▼ 21.1%€157k▲ 4.0%€70k▼ 55.5%€-15k
Net result€151k-€112k▼ 25.8%€108k▼ 3.4%€52k▼ 52.3%€-17k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €15k after €70k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €789k
Fixed assets
€62k▲ 30.0%
Current assets
€728k▲ 1.7%
Equity and liabilities €789k
Equity
€544k▼ 3.1%
Debt
€246k▲ 21.6%
The debt ratio rises from 26.5% to 31.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-3k▼
2024 · €79k
Cash flow
€-6k▼
2024 · €61k
Solvency
68.9%▼
2024 · 73.5%
Current ratio
3.01▼
2024 · 3.62
Quick ratio
2.24▼
2024 · 2.34
Debt / equity
0.45▲
2024 · 0.36
ROE
-3.2%▼
2024 · 9.2%
ROA
-2.2%▼
2024 · 6.8%
Interest coverage
-1.01▼
2024 · 13.97
Debt
€246k▲
2024 · €202k
Debt ≤ 1 year
€242k▲
2024 · €198k
Income taxes
€0▼
2024 · €20k
Staff costs
€231k▲
2024 · €225k
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€763k€789k▲
Fixed assets21/28€47k€62k▲
Intangible fixed assets21€2k€0▼
Tangible fixed assets22/27€18k€34k▲
Plant, machinery and equipment23€12k€13k▲
Furniture and vehicles24€7k€21k▲
Financial fixed assets28€27k€28k▲
Current assets29/58€716k€728k▲
Stocks and contracts in progress3€253k€187k▼
Stocks30/36€253k€187k▼
Amounts receivable within one year40/41€201k€232k▲
Trade receivables40€135k€172k▲
Other amounts receivable41€66k€60k▼
Cash at bank and in hand54/58€251k€295k▲
Deferred charges and accrued income490/1€10k€14k▲
Equity and liabilities
Total equity and liabilities10/49€763k€789k▲
Equity10/15€561k€544k▼
Contributions10/11€125k€125k=
Capital10€125k€125k=
Issued capital100€125k€125k=
Reserves13€173k€173k=
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Distributable reserves133€160k€160k=
Profit (loss) carried forward14€263k€246k▼
Amounts payable17/49€202k€246k▲
Amounts payable within one year42/48€198k€242k▲
Trade debts44€141k€191k▲
Suppliers440/4€141k€191k▲
Taxes, remuneration and social security45€40k€27k▼
Taxes450/3€15k€38▼
Remuneration and social security454/9€25k€27k▲
Other amounts payable47/48€17k€23k▲
Accrued charges and deferred income492/3€4k€4k▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€225k€231k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€11k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€-1k
Provisions for liabilities and charges: additions (uses and reversals)635/8€0-
Other operating charges640/8€1k€3k▲
Gross operating margin9900€305k€230k▼
Operating profit (loss)9901€70k€-15k▼
Financial income75/76B€8k€688▼
Recurring financial income75€8k€688▼
Financial charges65/66B€6k€3k▼
Recurring financial charges65€6k€3k▼
Profit (loss) for the period before taxes9903€72k€-17k▼
Income taxes67/77€20k€0▼
Profit (loss) for the period9904€52k€-17k▼
Profit (loss) for the period to be appropriated9905€52k€-17k▼
Appropriation of the result
Profit (loss) to be appropriated9906€315k€246k▼
Profit (loss) brought forward from the previous period14P€263k€263k=
Transfer to equity691/2€52k€0▼
To other reserves6921€52k€0▼
Social balance
Average headcount (FTE)90873.23.0▼
The notes to these accounts (12 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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-17k ▼134%
Net result drops to €-17k, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €500kEq €509k ▲27%
6 profitable years in a row build equity to €509k.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €151k ▲268%
Operating result €191k, net result €151k, both a record.
31-12
Financial
Equity above €200kEq €289k ▲110%
4 profitable years in a row build equity to €289k.
25-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €100kEq €137k ▲42.7%
3 profitable years in a row build equity to €137k.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
14-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
20-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Liège · 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 du Chéra 304000 LiègeGround area
6,448 m²
Building footprint
729 m²
Volume, LiDAR
3,850 m³
2 parcels, Wallonia · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Dock Marine Europe
since 20122.215.200.579
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62078A0405/00L035 | Wallonia | 4,775 m² | 1 · 58 m² | - |
| 62810B1230/00W000 | Wallonia | 1,673 m² | 1 · 670 m² | 6.7 m · 2 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.
Similar companies · same sector, comparable size
VAN HOOREWEDER HUBERT
BE 0810.579.411
Beernem · Eq €413k
POPEL
BE 0699.509.362
Essen · Eq €759k
ALLSEAS AFRICA MARINE CONTRACTORS
BE 0837.965.281
Essen · Eq €368k
DESIGN4DREDGERS
BE 0841.438.079
Gent · Eq €950k
Vanwelden Shipyard
BE 0801.666.101
Brugge · Eq €271k
Of 48 companies in sector 30110 we hold annual accounts for 33. 15 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded21-12-2012
Fiscal year end31-12
Activities, NACEBEL
30110Manufacture of other transport equipment
46140Agents in the wholesale of industrial machinery, ships and aircraft
33150Repair, maintenance and installation of machinery and equipment
47639Retail sale of other sporting goods
47640Retail trade
71209Other technical testing and analysis
77399Renting and leasing of other machinery, equipment and tangible goods
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.