BOREAL
ActiveBOREAL has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €109k and a net result of €-13k. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 89% of 31540 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability5▼-66
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity ample (current ratio 10.44 against 8.5 in 2024; short-term debt: 9.5% and cash: 18.3% of total assets), and 9.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 →
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-08-2026, 12 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
12 d late
2024
26 d late
2023
12 d late
2022
9 d late
2021
26 d late
2020
17 d late
2019
61 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€109k▼ 10.7%
2024 · €122k
2018: €80k
2019: €93k
2020: €99k
2021: €103k
2022: €114k
2023: €119k
2024: €122k
2018 → 2025
Total assets
€120k▼ 12.3%
2024 · €137k
2018: €104k
2019: €104k
2020: €113k
2021: €117k
2022: €140k
2023: €146k
2024: €137k
2018 → 2025
Net result
€-13k
2024 · €3k
2018: €3k
2019: €13k
2020: €6k
2021: €4k
2022: €11k
2023: €5k
2024: €3k
2018 → 2025
Working capital
€107k▼ 5.7%
2024 · €114k
2018: €80k
2019: €89k
2020: €96k
2021: €101k
2022: €113k
2023: €104k
2024: €114k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€103k-€114k▲ 11.0%€119k▲ 3.9%€122k▲ 2.4%€109k▼ 10.7%
Operating result€8k-€19k▲ 153%€8k▼ 59.0%€6k▼ 31.2%€-13k
Net result€4k-€11k▲ 193%€5k▼ 60.1%€3k▼ 36.8%€-13k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €13k after €6k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €120k
Fixed assets
€1k▼ 81.8%
Current assets
€119k▼ 8.0%
Equity and liabilities €120k
Equity
€109k▼ 10.7%
Debt
€11k▼ 25.1%
The debt ratio falls from 11.1% to 9.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-6k▼
2024 · €12k
Cash flow
€-6k▼
2024 · €9k
Solvency
90.5%▲
2024 · 88.9%
Current ratio
10.44▲
2024 · 8.50
Quick ratio
10.44▲
2024 · 8.50
Debt / equity
0.10▼
2024 · 0.12
ROE
-11.9%▼
2024 · 2.3%
ROA
-10.8%▼
2024 · 2.1%
Interest coverage
-24.98▼
2024 · 206.48
Debt
€11k▼
2024 · €15k
Debt ≤ 1 year
€11k▼
2024 · €15k
Income taxes
€305▼
2024 · €3k
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€137k€120k▼
Fixed assets21/28€8k€1k▼
Tangible fixed assets22/27€8k€1k▼
Furniture and vehicles24€8k€1k▼
Other tangible fixed assets26-€350
Current assets29/58€129k€119k▼
Amounts receivable within one year40/41€40k€26k▼
Trade receivables40€39k€25k▼
Other amounts receivable41€1k€1k▲
Current investments50/53-€70k
Cash at bank and in hand54/58€88k€22k▼
Deferred charges and accrued income490/1€306€298▼
Equity and liabilities
Total equity and liabilities10/49€137k€120k▼
Equity10/15€122k€109k▼
Contributions10/11€8k€8k=
Reserves13€52k€52k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€50k€50k=
Profit (loss) carried forward14€62k€49k▼
Amounts payable17/49€15k€11k▼
Amounts payable within one year42/48€15k€11k▼
Trade debts44€3k€943▼
Suppliers440/4€3k€943▼
Taxes, remuneration and social security45€11k€7k▼
Taxes450/3€11k€6k▼
Remuneration and social security454/9-€600
Other amounts payable47/48€2k€4k▲
Income statement
Code20242025
Non-recurring operating income76A€125k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k▲
Other operating charges640/8€827€661▼
Gross operating margin9900€13k€-6k▼
Operating profit (loss)9901€6k€-13k▼
Financial income75/76B€70€467▲
Recurring financial income75€70€467▲
Financial charges65/66B€58€256▲
Recurring financial charges65€58€256▲
Profit (loss) for the period before taxes9903€6k€-13k▼
Income taxes67/77€3k€305▼
Profit (loss) for the period9904€3k€-13k▼
Profit (loss) for the period to be appropriated9905€3k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€65k€49k▼
Profit (loss) brought forward from the previous period14P€62k€62k=
Transfer to equity691/2€3k-
To other reserves6921€3k-
The notes to these accounts (4 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
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 12 days late
2025
31-12
Financial
Weakest financial yearnet €-13k ▼555%
Net result drops to €-13k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Equity above €100kEq €103k ▲3.9%
4 profitable years in a row build equity to €103k.
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 17 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Highest result since 2018net €13k ▲340%
Net result €13k, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 9.48
Current ratio from 4.33 to 9.48; short-term debt falls from €24k to €10k.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
01-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-06
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.
Directors · office · real estate
Directors
1 act for this company is 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 1991
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 de Joie 394000 LiègeGround area
253 m²
Building footprint
54 m²
Volume, LiDAR
612 m³
Parcel 62804D0327/00S007, Wallonia · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Joie 39, 4000 Liège
since 19912.052.812.978
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62804D0327/00S007 | Wallonia | 253 m² | 1 · 54 m² | 14.4 m · 4 fl. |
Linked by address, not proof of ownership
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.
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JAVAWE
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Of 82,524 companies in sector 70200 we hold annual accounts for 52,566. 40,725 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-05-1991
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
74142
69202Legal and accounting activities
69209Other tax advisory services
74121
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.