BITSTREAM VISUALS
ActiveSummary
BITSTREAM VISUALS has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €280,382 and a net result of -€55,603. Equity is shrinking by about 4.2% per year across the filed financial years. Its solvency ranks better than 61% of 640 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Overview
- Equity
- €280,382
- Loss
- -€55,603
- Parent
- HUZAAR HOLDING · 100%
- COCOMERO BVDirector · permanent representative Steven Lagaisse
- STOIC MUNDI BVDirector · permanent representative Lieven Depoorter
Why 66raises risk1 change of registered office in 24 monthsLoss of €55,603 (financial year 2025)Liquidity: current ratio 1.95, cash €2,427, halvedlowers riskSector: Arts creation and performing arts activities (NACE 90)Show the evidence
Checked score
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 90, micro): better than 55% on solvency, 20% on liquidity, 27% on profitability and 10% on growth.
The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 34 days before the deadline; the sector median (NACE 90) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Weakest financial yearnet -€55,603
- Registered officeRegistered-office move
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €89,781 after €42,855 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 90, Arts creation and performing arts activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 929 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 90.1% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 929 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €29,181 | €25,888 | ▼ 11.3% |
| Remuneration, social security and pensions62 | - | - | - | €358,425 | €412,024 | €287,559 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €353,410 | €294,841 | €186,540 | €135,168 | €169,147 | €173,393 | €112,797 | ▼ 34.9% |
| Other operating charges640/8 | - | - | - | €5,467 | €6,138 | €3,078 | €5,415 | ▲ 75.9% |
| Non-recurring operating charges66A | - | - | - | €3,282 | €582 | €4,066 | €58,621 | ▲ 14× |
| Gross operating margin9900 | €667,123 | €385,789 | €723,848 | €948,455 | €678,792 | €510,951 | €87,052 | ▼ 83.0% |
| Operating profit (loss)9901 | €205,899 | -€47,833 | €285,289 | €446,113 | €90,901 | €42,855 | -€89,781 | - |
| Financial income75/76B | - | - | - | €11,177 | €36,423 | €42 | €52,027 | ▲ 1,239× |
| Recurring financial income75 | €518 | €3,239 | €9,804 | €11,177 | €36,423 | €42 | €52,027 | ▲ 1,239× |
| Financial charges65/66B | - | - | - | €91,853 | - | €1,196 | €6,763 | ▲ 465% |
| Recurring financial charges65 | €13,773 | €7,447 | €12,027 | €91,853 | - | €1,196 | €6,763 | ▲ 465% |
| Profit (loss) for the period before taxes9903 | €192,644 | -€52,040 | €283,066 | €365,437 | €127,324 | €41,701 | -€44,517 | - |
| Income taxes67/77 | €59,874 | -€8,818 | €75,691 | €121,855 | €20,892 | €26,910 | €11,086 | ▼ 58.8% |
| Profit (loss) for the period9904 | €138,973 | -€37,019 | €213,579 | €243,583 | €106,432 | €14,791 | -€55,603 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €37,928 | €47,833 | - | €43,985 | - |
| Transfer to tax-exempt reserves689 | - | - | - | €47,833 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €152,777 | -€26,640 | €228,346 | €233,678 | €154,265 | €14,791 | -€11,618 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.9m | €1.7m | €1.7m | €1.8m | €1.7m | €1.1m | €0.5m | ▼ 50.0% |
| Fixed assets21/28 | €0.8m | €0.6m | €0.5m | €0.5m | €0.7m | €0.5m | €0.2m | ▼ 69.4% |
| Intangible fixed assets21 | - | €0.003m | €0.002m | €0.002m | €0.001m | - | - | - |
| Tangible fixed assets22/27 | €0.8m | €0.6m | €0.5m | €0.5m | €0.7m | €0.5m | €0.2m | ▼ 69.4% |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.2m | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.3m | €0.2m | €0.1m | ▼ 41.6% |
| Furniture and vehicles24 | - | - | - | €0.09m | €0.07m | €0.03m | €0.01m | ▼ 65.2% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.007m | - |
| Financial fixed assets28 | - | - | - | - | - | €53 | - | - |
| Current assets29/58 | €1.0m | €1.0m | €1.2m | €1.3m | €1.1m | €0.5m | €0.4m | ▼ 31.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.07m | €0.07m | - | - | - |
| Other amounts receivable291 | - | - | - | €0.07m | €0.07m | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.1m | €0.1m | €0.3m | €0.3m | €0.2m | €0.4m | ▲ 56.5% |
| Trade receivables40 | - | - | - | €0.3m | €0.2m | €0.1m | €0.2m | ▲ 78.6% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.08m | €0.1m | €0.2m | ▲ 34.7% |
| Current investments50/53 | - | - | - | €0.6m | €0.4m | €0.1m | - | - |
| Cash at bank and in hand54/58 | €0.9m | €0.9m | €1.1m | €0.2m | €0.3m | €0.2m | €0.002m | ▼ 98.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.01m | €0.004m | €0.001m | ▼ 60.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.9m | €1.7m | €1.7m | €1.8m | €1.7m | €1.1m | €0.5m | ▼ 50.0% |
| Equity10/15 | €1.0m | €0.9m | €1.2m | €1.4m | €1.3m | €0.8m | €0.3m | ▼ 63.8% |
| Contributions10/11 | €0.3m | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.7m | €0.6m | €0.9m | €1.1m | €1.0m | €0.5m | - | - |
| Non-distributable reserves130/1 | - | - | - | €1.0m | €0.7m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.03m | €0.03m | - | - | - |
| Other1319 | - | - | - | €0.9m | €0.7m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.09m | €0.04m | €0.04m | - | - |
| Distributable reserves133 | - | - | - | €0.05m | €0.2m | €0.4m | - | - |
| Profit (loss) carried forward14 | €255 | - | - | €0 | €0.001m | €0.02m | -€0.01m | - |
| Provisions and deferred taxes16 | €0.01m | €0.006m | - | - | - | - | - | - |
| Amounts payable17/49 | €0.9m | €0.7m | €0.6m | €0.4m | €0.5m | €0.3m | €0.2m | ▼ 12.3% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.2m | €0.02m | €0.1m | €0.09m | €0.06m | ▼ 33.6% |
| Financial debts170/4 | - | - | - | €0.02m | €0.1m | €0.09m | €0.06m | ▼ 33.6% |
| Amounts payable within one year42/48 | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | ▼ 2.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.03m | €0.04m | €0.03m | ▼ 21.0% |
| Trade debts44 | €0.1m | €0.07m | €0.03m | €0.07m | €0.08m | €0.02m | €0.01m | ▼ 40.8% |
| Suppliers440/4 | - | - | - | €0.07m | €0.08m | €0.02m | €0.01m | ▼ 40.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.01m | €0.02m | ▲ 63.5% |
| Taxes450/3 | - | - | - | €0.08m | €0.07m | €0.01m | €0.02m | ▲ 63.5% |
| Remuneration and social security454/9 | - | - | - | €0.04m | €0.05m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 2.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.007m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €138,973 | -€37,019 | €213,579 | €243,583 | €106,432 | €14,791 | -€55,603 | - |
| + Depreciation and write-downs630 | €353,410 | €294,841 | €186,540 | €135,168 | €169,147 | €173,393 | €112,797 | ▼ 34.9% |
| Operating cash flow (approximation) | €492,383 | €257,822 | €400,118 | €378,751 | €275,579 | €188,184 | €57,194 | ▼ 69.6% |
| Investment in fixed assets (approximation) | - | -€89,301 | -€102,631 | -€125,872 | -€297,554 | -€43,593 | €251,521 | - |
| Change in cash | - | €27,952 | €205,824 | -€855,208 | €24,151 | -€88,175 | -€169,304 | ▼ 92.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 25-11-2025 | 2025-00570299 |
| 30-06-2024 | abbreviated format | 17-12-2024 | 2024-00617882 |
| 30-06-2023 | abbreviated format | 29-01-2024 | 2024-00010023 |
| 30-06-2022 | abbreviated format | 10-01-2023 | 2023-20557217 |
| 30-06-2021 | abbreviated format | 10-12-2021 | 2021-79900141 |
| 30-06-2020 | abbreviated format | 15-12-2020 | 2020-75600297 |
| 30-06-2019 | micro format | 27-01-2020 | 2020-02200506 |
| 30-06-2018 | micro format | 12-12-2018 | 2018-74200590 |
| 30-06-2017 | micro format | 01-02-2018 | 2018-04100179 |
| 30-06-2016 | abbreviated format | 21-12-2016 | 2016-71000074 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €3,449 awarded · €3,449 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €1,200 | €1,200 |
| 2022 | 1 | €2,249 | €2,249 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 2
Permanent representatives 2
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| COCOMERO BV |
|
| STOIC MUNDI BV |
|
| Lieven Depoorter |
|
| Steven Wydhooge |
|
Owners and capital
Owners
1 ownerChain of control
- HUZAAR HOLDING
- BITSTREAM VISUALS
Highest known parent: HUZAAR HOLDING. The sources do not say who stands above it.
Owners 1
- HUZAAR HOLDINGparent100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 02-01-2024 Converted to unavailable equity
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
07-01
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 16-08-2024
- Registered-office move, 9850 Deinze, Ter Mote 14
27-05
Gazette deed
Resignations: Steven Wydhooge (director) and Lieven Depoorter (director)Appointments: COCOMERO BV (director) and STOIC MUNDI BV (director) · Permanent representatives: Steven Lagaisse and Lieven Depoorter · Director discharge9 facts ▸
- General meeting, 13-05-2024
- Director resignation, Steven Wydhooge (director)
- Director resignation, Lieven Depoorter (director)
- Director discharge, Steven Wydhooge
- Director discharge, Lieven Depoorter
- Director appointment, COCOMERO BV (director (not named in the articles))
- Director appointment, STOIC MUNDI BV (director (not named in the articles))
- Permanent representative, Steven Lagaisse
- Permanent representative, Lieven Depoorter
02-01
Gazette deed
Resignations: DEPOORTER Lieven (statutair zaakvoerder) and WYDHOOGE Steven (statutair zaakvoerder)Appointments: DEPOORTER Lieven (statutory director) and WYDHOOGE Steven (nietstatutair bestuurder) · Amendment of the articles · Capital conversion17 facts ▸
- General meeting, 22-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing, middelen beschikbaar voor uitkering” (deed in Dutch)
- Director resignation, DEPOORTER Lieven ((niet )statutair zaakvoerder)
- Director appointment, DEPOORTER Lieven (statutory director)
- Director resignation, WYDHOOGE Steven ((niet )statutair zaakvoerder)
- Director appointment, WYDHOOGE Steven (nietstatutair bestuurder)
- Other provision, “statuten aanpassen aan voorgaande beslissing en opdracht aan notaris voor verwerking in aan te nemen nieuwe statuten, opdracht aan notaris voor verwerking” (deed in Dutch)
- Capital
- Board composition, DEPOORTER Lieven (statutory director)
- Other provision, “TITEL VIII Algemene bepalingen” (deed in Dutch)
- +5 further facts in this act
Show earlier events
About the unread acts
Of the 7 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44049F0306/00C000 | Flanders | 2,435 m² | 1 · 1,288 m² | 9.0 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- BITSTREAM VISUALS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, overbrenging naar om het even welke plaats in het tweetalig gebied Brussel Hoofdstad of in het Nederlands taalgebied door…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alonedeed of 02-01-2024
- Board ruleHow the board is made up, meets and takes decisions.
- One provision in the deeddeed of 27-05-2024
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of December at 14:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Indien geen andere vereffenaar benoemd, algemene vergadering mag één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding…” (deed in Dutch)