Checked.be
Active
BE 0832.876.345Private limited company
BLUE HOTEL PRODUCTION
Keerkringenlaan 7 ·1190 Vorst, Belgium· 15 yrs active
Sector: Other photographic activities
(74209)
Conclusion
BLUE HOTEL PRODUCTION has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €128k and a net result of €-10k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 92% of 44 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €128k |
| Net result | €-10k |
| Better than sector | 92% |
| Active | 15 yrs |
Financial profile
53
/ 100
Mixed profile: strong on solvency, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
42
Profitability
0
Solvency
100
Growth
22
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2011, 15 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
42
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€3k
estimate, not credit advice
Score history
73
2022
94
2023
100
2024
42
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 15.87 (≥ 1.5)
+10
Quick ratio
Quick ratio 15.87 (≥ 1.0)
+5
Leverage
Debt/equity 0.06 (< 1.0)
+10
Profitability
Negatieve ROE -8%
-10
EBITDA margin
Negatieve EBITDA-marge
-10
Interest coverage
Interest coverage -41.7× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 26-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 4 fiscal years (±1.1%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 74, Other professional, scientific and technical activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 93.9% | 46.6% | |
| Net result | €-10k | €27k | |
| Equity | €128k | €94k | |
| Gross operating margin | €-6k | €72k | |
| Total assets | €137k | €240k |
€25k
-67.2%
22-25
€-8k
-
22-25
€-10k
-
22-25
€-7k
-
22-25
€137k
-9.1%
22-25
€128k
-7.0%
22-25
€123k
-8.2%
22-25
€3k
-35.4%
22-25
€8k
-32.6%
22-25
€8k
-32.6%
22-25
15.87
+33.0%
22-25
15.87
+33.0%
22-25
93.9%
+2.3%
22-25
0.06
-27.5%
22-25
-7.5%
-
22-25
-7.1%
-
22-25
-38.5%
-
22-25
-30.1%
-
22-25
-41.75
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | micro schema | micro schema | micro schema |
| Revenue | €25k | €77k | - | - |
| EBITDA | €-8k | €11k | €9k | €10k |
| Net profit | €-10k | €6k | €3k | €-6k |
| Cash flow | €-7k | €8k | €4k | €-4k |
| Staff costs | - | - | - | - |
| Income taxes | - | €3k | €4k | €14k |
| Dividends | - | - | - | - |
| Total assets | €137k | €150k | €140k | €140k |
| Equity | €128k | €138k | €132k | €129k |
| Debt | €8k | €12k | €8k | €12k |
| of which ≤ 1y | €8k | €12k | €8k | €12k |
| of which > 1y | - | - | - | - |
| Working capital | €123k | €135k | €130k | €126k |
| Employees (FTE) | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 15.87 | 11.93 | 16.72 | 11.88 |
| Quick ratio | 15.87 | 11.93 | 16.72 | 11.88 |
| Working capital ratio | 90.3% | 89.4% | 92.7% | 89.7% |
| Solvency | 93.9% | 91.8% | 94.1% | 91.8% |
| Debt / equity | 0.06 | 0.09 | 0.06 | 0.09 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | -41.75 | 51.55 | 44.55 | 48.16 |
| Gross margin | -24.1% | 17.7% | - | - |
| Net margin | -38.5% | 8.4% | - | - |
| ROA | -7.1% | 4.3% | 2.1% | -4.0% |
| ROE | -7.5% | 4.6% | 2.2% | -4.4% |
| EBITDA margin | -30.1% | 13.9% | - | - |
| Days sales outstanding | 138d | 33d | - | - |
| Days payable outstanding | 75d | 61d | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €137k | €150k | €140k | €140k |
| Fixed assets | 21/28 | €5k | €4k | €2k | €3k |
| Tangible fixed assets | 22/27 | €5k | €3k | €2k | €3k |
| Financial fixed assets | 28 | €275 | €275 | €275 | €275 |
| Current assets | 29/58 | €132k | €147k | €138k | €137k |
| Amounts receivable within one year | 40/41 | €9k | €7k | €6k | €16k |
| Cash & bank | 54/58 | €122k | €138k | €130k | €119k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €137k | €150k | €140k | €140k |
| Equity | 10/15 | €128k | €138k | €132k | €129k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k |
| Reserves | 13 | €17k | €17k | €17k | €17k |
| Accumulated profits (losses) | 14 | €99k | €109k | €102k | €100k |
| Amounts payable | 17/49 | €8k | €12k | €8k | €12k |
| Amounts payable within one year | 42/48 | €8k | €12k | €8k | €12k |
| Trade debts payable within one year | 44 | €6k | €11k | €8k | €12k |
| Income statement | |||||
| Turnover | 70 | €25k | €77k | - | - |
| Gross operating margin | 9900 | €-6k | €14k | €10k | €12k |
| Operating result | 9901 | €-10k | €9k | €7k | €8k |
| Financial income | 75 | €262 | - | - | €182 |
| Financial charges | 65 | €181 | €206 | €193 | €213 |
| Result before taxes | 9903 | €-10k | €9k | €7k | €8k |
| Income taxes | 67/77 | - | €3k | €4k | €14k |
| Net result for the period | 9904 | €-10k | €6k | €3k | €-6k |
| Result to be appropriated | 9905 | €-10k | €6k | €3k | €-6k |
Legal Structure
| NACE primary | Other photographic activities(74209) |
| Legal form | Private limited company(610) |
| Incorporation | 17-01-2011 |
| Status | Active |
| Postal code | 1190 |
Establishment units
Blue Hotel Production
since 20112.197.069.004
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0276/00P006 | Brussels | 185 m² | 1 · 110 m² | 15.3 m · 4 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-10k ▼251%
Net result drops to €-10k, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2022net €6k ▲120%
Operating result €9k, net result €6k, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 12 days late
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 87 days late
2020
29-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 29 days late
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
26-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 26 days late
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Other photographic activities74209Other publishing activities, excluding software publishing58190Photography, excluding press photography74201Organisation of conventions and trade shows82300Other amusement and recreation activities93299Other personal services96999
Names & trade names
| Legal nameFR | BLUE HOTEL PRODUCTION |
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