BGSA
ActiveBGSA has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28k and a net result of €190k. Equity is shrinking by ~27.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 12% of 31697 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency30▼-1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.51 against 0.47 in 2024; short-term debt: 95.4% and cash: 3.4% of total assets), and 95.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
4.6%
Return on assets
30.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 31697 sector peers (2025).
NBB · sector comparisonPosition among 31697 sector peers
Solvency
better than 12%
← weakest
strongest →
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 19-05-2026, 73 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
73 d early
2024
28 d early
2023
on the day
2022
24 d late
2021
29 d late
2020
31 d late
2019
32 d late
← 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€28k▼ 15.8%
2024 · €34k
2019: €58k
2020: €124k
2021: €242k
2022: €174k
2023: €69k
2024: €34k
2019 → 2025
Total assets
€614k▲ 5.6%
2024 · €581k
2019: €337k
2020: €392k
2021: €525k
2022: €659k
2023: €589k
2024: €581k
2019 → 2025
Net result
€190k▼ 25.4%
2024 · €254k
2019: €33k
2020: €66k
2021: €119k
2022: €196k
2023: €246k
2024: €254k
2019 → 2025
Working capital
€-290k▼ 0.4%
2024 · €-289k
2019: €-43k
2020: €-2k
2021: €57k
2022: €-67k
2023: €-238k
2024: €-289k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€242k-€174k▼ 28.3%€69k▼ 60.1%€34k▼ 51.6%€28k▼ 15.8%
Operating result€163k-€267k▲ 63.8%€313k▲ 17.6%€339k▲ 8.3%€246k▼ 27.5%
Net result€119k-€196k▲ 64.6%€246k▲ 25.1%€254k▲ 3.5%€190k▼ 25.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 27% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €614k
Fixed assets
€318k▼ 1.6%
Current assets
€296k▲ 14.6%
Equity and liabilities €614k
Equity
€28k▼ 15.8%
Debt
€586k▲ 6.9%
The debt ratio rises from 94.2% to 95.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€254k▼
2024 · €346k
Cash flow
€198k▼
2024 · €261k
Solvency
4.6%▼
2024 · 5.8%
Current ratio
0.51▲
2024 · 0.47
Quick ratio
0.51▲
2024 · 0.47
Debt / equity
20.72▲
2024 · 16.31
ROE
671.0%▼
2024 · 757.1%
ROA
30.9%▼
2024 · 43.7%
Interest coverage
93.76▲
2024 · 78.57
Debt
€586k▲
2024 · €548k
Debt ≤ 1 year
€586k▲
2024 · €547k
Debt > 1 year
€0▼
2024 · €1k
Income taxes
€64k▼
2024 · €88k
Staff costs
€48k▲
2024 · €39k
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€581k€614k▲
Fixed assets21/28€323k€318k▼
Tangible fixed assets22/27€38k€33k▼
Furniture and vehicles24€38k€33k▼
Financial fixed assets28€285k€285k=
Current assets29/58€258k€296k▲
Amounts receivable within one year40/41€42k€87k▲
Trade receivables40€21k€22k▲
Other amounts receivable41€21k€65k▲
Current investments50/53€200k€181k▼
Cash at bank and in hand54/58€16k€21k▲
Deferred charges and accrued income490/1€0€7k▲
Equity and liabilities
Total equity and liabilities10/49€581k€614k▲
Equity10/15€34k€28k▼
Contributions10/11€25k€25k=
Profit (loss) carried forward14€9k€3k▼
Amounts payable17/49€548k€586k▲
Amounts payable after more than one year17€1k€0▼
Financial debts170/4€1k€0▼
Amounts payable within one year42/48€547k€586k▲
Current portion of amounts payable after more than one year42€43k€28k▼
Trade debts44€22k€23k▲
Suppliers440/4€22k€23k▲
Taxes, remuneration and social security45€70k€62k▼
Taxes450/3€62k€51k▼
Remuneration and social security454/9€8k€11k▲
Other amounts payable47/48€412k€472k▲
Income statement
Code20242025
Remuneration, social security and pensions62€39k€48k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€8k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€387k€304k▼
Operating profit (loss)9901€339k€246k▼
Financial income75/76B€8k€10k▲
Recurring financial income75€8k€10k▲
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€343k€254k▼
Income taxes67/77€88k€64k▼
Profit (loss) for the period9904€254k€190k▼
Profit (loss) for the period to be appropriated9905€254k€190k▼
Appropriation of the result
Profit (loss) to be appropriated9906€299k€198k▼
Profit (loss) brought forward from the previous period14P€44k€9k▼
Profit to be distributed694/7€290k€195k▼
Return on contributions (dividend)694€290k€195k▼
The notes to these accounts (11 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
19-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2019net €254k ▲3.5%
Operating result €339k, net result €254k, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €200kEq €242k ▲95.6%
3 profitable years in a row build equity to €242k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €100kEq €124k ▲115%
2 profitable years in a row build equity to €124k.
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Ukkel · 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.
Roberts-Jonesstraat 381180 UkkelGround area
1,146 m²
Building footprint
445 m²
Volume, LiDAR
6,202 m³
2 parcels, Brussels · tallest building 19.2 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
BGSA
since 20182.280.871.064
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21618B0328/00A011 | Brussels | 1,028 m² | 1 · 352 m² | 19.2 m · 6 fl. |
| 21616G0167/02C004 | Brussels | 118 m² | 1 · 93 m² | 12.6 m · 3 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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Of 82,569 companies in sector 70200 we hold annual accounts for 52,577. 33,966 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-10-2018
Fiscal year end31-12
Activities, NACEBEL
70100Activities of head offices
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.