BLIZZARD
ActiveSummary
BLIZZARD has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €127,980 and a net result of -€18,808. Equity is shrinking by ~13.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 84% of 7098 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability3▲+3
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 6.54 against 6.51 in 2024; short-term debt: 13.7% and cash: 3.6% of total assets), and 13.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€18,808
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
14 d late
2023
59 d late
2022
56 d late
2021
30 d late
2020
123 d late
2019
136 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 56 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 30 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€127,980▼ 12.8%
2024 · €146,788
Total assets
€148,415▼ 12.5%
2024 · €169,691
Net result
-€18,808▲ 79.1%
2024 · -€90,162
Working capital
€112,592▼ 10.8%
2024 · €126,172
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€34,303▼ 167%-€34,329▼ 0.1%-€100,216▼ 192%-€89,748▲ 10.4%-€18,622▲ 79.3%
Net result-€35,417below the sector's middle half▼ 144%-€34,556below the sector's middle half▲ 2.4%-€100,875below the sector's middle half▼ 192%-€90,162below the sector's middle half▲ 10.6%-€18,808below the sector's middle half▲ 79.1%
Equity€372,380above the sector's middle half▼ 8.7%€337,824above the sector's middle half▼ 9.3%€236,949above the sector's middle half▼ 29.9%€146,788within the sector's middle half▼ 38.1%€127,980within the sector's middle half▼ 12.8%
Total assets€431,472above the sector's middle half▼ 8.4%€369,409above the sector's middle half▼ 14.4%€259,148within the sector's middle half▼ 29.8%€169,691within the sector's middle half▼ 34.5%€148,415within the sector's middle half▼ 12.5%
Debt€59,091▼ 6.3%€31,585▼ 46.5%€22,198▼ 29.7%€22,904▲ 3.2%€20,435▼ 10.8%
Working capital€284,852above the sector's middle half▲ 1.6%€282,889above the sector's middle half▼ 0.7%€210,548above the sector's middle half▼ 25.6%€126,172above the sector's middle half▼ 40.1%€112,592above the sector's middle half▼ 10.8%
Solvency86.3%above the sector's middle half▼ 0.3pp91.4%above the sector's middle half▲ 5.1pp91.4%above the sector's middle half=86.5%above the sector's middle half▼ 4.9pp86.2%above the sector's middle half▼ 0.3pp
Current ratio5.82above the sector's middle half▲ 0.389.96above the sector's middle half▲ 4.1410.48above the sector's middle half▲ 0.536.51above the sector's middle half▼ 3.986.54above the sector's middle half▲ 0.03
Return on assets (ROA)-8.2%below the sector's middle half▼ 5.1pp-9.4%below the sector's middle half▼ 1.1pp-38.9%below the sector's middle half▼ 29.6pp-53.1%below the sector's middle half▼ 14.2pp-12.7%below the sector's middle half▲ 40.5pp
Staff (FTE)33=3=3=
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €18,622 in 2025 against €89,748 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €148,415
Fixed assets
€15,483 ▼ 24.9%
Current assets
€132,932 ▼ 10.8%
Equity and liabilities €148,415
Equity
€127,980 ▼ 12.8%
Debt
€20,435 ▼ 10.8%
Debt's share of the balance-sheet total rises from 13.5% to 13.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€12,455▲
2024 · -€78,614
Cash flow
-€12,641▲
2024 · -€79,028
Quick ratio
6.42▲
2024 · 6.41
Debt to equity
0.16▲
2024 · 0.16
ROE
-14.7%▲
2024 · -61.4%
Interest coverage
-66.14▲
2024 · -384.48
Debt ≤ 1 year
€20,340▼
2024 · €22,904
Staff costs
€99,541▼
2024 · €184,605
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,834 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,338 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 5,834 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6,969 | €11,000 | - | - |
| Remuneration, social security and pensions62 | €136,850 | €152,842 | €185,260 | €184,605 | €99,541 | ▼ 46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,855 | €38,909 | €26,722 | €11,134 | €6,167 | ▼ 44.6% |
| Other operating charges640/8 | €3,031 | €1,722 | €2,282 | €983 | €400 | ▼ 59.4% |
| Gross operating margin9900 | €149,433 | €159,144 | €114,048 | €106,974 | €87,486 | ▼ 18.2% |
| Operating profit (loss)9901 | -€34,303 | -€34,329 | -€100,216 | -€89,748 | -€18,622 | ▲ 79.3% |
| Financial income75/76B | €78 | €727 | €320 | €55 | €2 | ▼ 95.9% |
| Recurring financial income75 | €78 | €727 | €320 | €55 | €2 | ▼ 95.9% |
| Financial charges65/66B | €863 | €227 | €667 | €204 | €188 | ▼ 7.9% |
| Recurring financial charges65 | €863 | €227 | €667 | €204 | €188 | ▼ 7.9% |
| Profit (loss) for the period before taxes9903 | -€35,088 | -€33,829 | -€100,563 | -€89,898 | -€18,808 | ▲ 79.1% |
| Income taxes67/77 | €329 | €727 | €312 | €264 | - | - |
| Profit (loss) for the period9904 | -€35,417 | -€34,556 | -€100,875 | -€90,162 | -€18,808 | ▲ 79.1% |
| Profit (loss) for the period to be appropriated9905 | -€35,417 | -€34,556 | -€100,875 | -€90,162 | -€18,808 | ▲ 79.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €431,472 | €369,409 | €259,148 | €169,691 | €148,415 | ▼ 12.5% |
| Fixed assets21/28 | €87,528 | €54,935 | €26,402 | €20,616 | €15,483 | ▼ 24.9% |
| Intangible fixed assets21 | €2,607 | €5,051 | €3,748 | €5,703 | €3,748 | ▼ 34.3% |
| Tangible fixed assets22/27 | €84,274 | €49,237 | €22,007 | €14,266 | €10,818 | ▼ 24.2% |
| Land and buildings22 | €16,792 | €14,692 | €12,592 | €10,492 | €8,373 | ▼ 20.2% |
| Plant, machinery and equipment23 | €34,779 | €18,674 | €2,981 | €3,299 | €1,683 | ▼ 49.0% |
| Furniture and vehicles24 | €32,703 | €15,872 | €6,434 | €475 | - | - |
| Other tangible fixed assets26 | - | - | - | - | €763 | - |
| Financial fixed assets28 | €647 | €647 | €647 | €647 | €917 | ▲ 41.7% |
| Current assets29/58 | €343,943 | €314,474 | €232,746 | €149,076 | €132,932 | ▼ 10.8% |
| Stocks and contracts in progress3 | €2,003 | €2,705 | €2,923 | €2,305 | €2,305 | = |
| Stocks30/36 | €2,003 | €2,705 | €2,923 | €2,305 | €2,305 | = |
| Amounts receivable within one year40/41 | €177,365 | €165,401 | €171,301 | €138,637 | €122,718 | ▼ 11.5% |
| Trade receivables40 | €157,912 | €160,729 | €170,911 | €137,809 | €121,891 | ▼ 11.6% |
| Other amounts receivable41 | €19,454 | €4,671 | €391 | €827 | €827 | = |
| Cash at bank and in hand54/58 | €164,193 | €145,949 | €57,064 | €7,671 | €5,271 | ▼ 31.3% |
| Deferred charges and accrued income490/1 | €383 | €419 | €1,458 | €463 | €2,638 | ▲ 470% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €431,472 | €369,409 | €259,148 | €169,691 | €148,415 | ▼ 12.5% |
| Equity10/15 | €372,380 | €337,824 | €236,949 | €146,788 | €127,980 | ▼ 12.8% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €72,429 | €72,429 | €72,429 | €72,429 | €72,429 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | €28,175 | €28,175 | €28,175 | €28,175 | €28,175 | = |
| Distributable reserves133 | €42,395 | €42,395 | €44,254 | €44,254 | €44,254 | = |
| Profit (loss) carried forward14 | €281,359 | €246,803 | €145,928 | €55,766 | €36,959 | ▼ 33.7% |
| Amounts payable17/49 | €59,091 | €31,585 | €22,198 | €22,904 | €20,435 | ▼ 10.8% |
| Amounts payable within one year42/48 | €59,091 | €31,585 | €22,198 | €22,904 | €20,340 | ▼ 11.2% |
| Trade debts44 | €24,569 | €14,393 | €7,068 | €3,879 | €8,617 | ▲ 122% |
| Suppliers440/4 | €24,569 | €14,393 | €7,068 | €3,879 | €8,617 | ▲ 122% |
| Taxes, remuneration and social security45 | €31,861 | €16,608 | €14,161 | €12,243 | €11,388 | ▼ 7.0% |
| Taxes450/3 | €15,647 | €16,608 | €14,161 | €10,595 | €6,553 | ▼ 38.2% |
| Remuneration and social security454/9 | €16,214 | - | - | €1,648 | €4,836 | ▲ 193% |
| Other amounts payable47/48 | €2,661 | €584 | €969 | €6,781 | €335 | ▼ 95.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €95 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€35,417 | -€34,556 | -€100,875 | -€90,162 | -€18,808 | ▲ 79.1% |
| + Depreciation and write-downs630 | €43,855 | €38,909 | €26,722 | €11,134 | €6,167 | ▼ 44.6% |
| Operating cash flow (approximation) | €8,438 | €4,353 | -€74,153 | -€79,028 | -€12,641 | ▲ 84.0% |
| Investment in fixed assets (approximation) | - | -€6,316 | €1,811 | -€5,348 | -€1,034 | ▲ 80.7% |
| Change in cash | - | -€18,243 | -€88,885 | -€49,393 | -€2,400 | ▲ 95.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
2023
31-12
Financial
Weakest financial yearnet -€100,875
Net result drops to -€100,875, the lowest in the series; recovery starts the following year.
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 56 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
01-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 123 days late
2020
14-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 136 days late
2019
01-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 62 days late
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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 1983
Ground area
347 m²
Building footprint
329 m²
Volume, LiDAR
3,129 m³
Parcel 21616A0121/00Y002, Brussels · tallest building 17.1 m, ±2 floors. Linked by address, not a title deed.
345
companies at this address
See who is registered here
1 establishment unit
Alsembergsesteenweg 897, 1180 Ukkel
since 19832.022.876.305
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616A0121/00Y002 | Brussels | 347 m² | 1 · 329 m² | 17.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,863 companies in sector 73110 we hold annual accounts for 3,759. 3,000 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-05-1983
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
74201Photography, excluding press photography
E-invoicing
Reachable via Peppol
Peppol ID
0208:0424402516
Registered
10-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.