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Borealis

Active
Private limited companyfounded 20242 yrs active't Helleke(Kor) 11, 8500 Kortrijk, BelgiumKBO/BCE: BE 1008.861.465
Summary

The computed 12-month bankruptcy probability of Borealis is 3.2% (moderate). The 2025 annual accounts show equity of €73,384 and a net result of -€26,616. The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes
Profitability23
Solvency41
Growth-
Track record67
Bankruptcy probability, 12 months
3.2% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days only on tighter terms
Liquidity short (current ratio 0.37; short-term debt: 20.9% and cash: 1.5% of total assets), and 84.2% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
15.8%
Return on assets
-5.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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 · 1 filing
Deviation from the deadline
2025
21 d late
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

Borealis was incorporated on 26 April 2024 as a Private limited company.1 The company has filed annual accounts once, for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
€73,384
Total assets
€464,255
Net result
-€26,616
Working capital
-€61,322

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Balance-sheet composition
Assets €464,255
Fixed assets €428,500
Current assets €35,755
Equity and liabilities €464,255
Equity €73,384
Debt €390,870
Debt finances 84.2% of the balance-sheet total.
Key figures and ratios
2025 value
Current ratio
0.37
Debt to equity
5.33
ROE
-36.3%
ROA
-5.7%
Debt ≤ 1 year
€97,077
Debt > 1 year
€284,571
Annual accounts
Filed annual accounts As filed with the NBB · 2025 · 30 lines
Balance sheet Code2025
Assets
Total assets20/58€464,255
Fixed assets21/28€428,500
Financial fixed assets28€428,500
Current assets29/58€35,755
Amounts receivable within one year40/41€28,821
Trade receivables40€24,000
Other amounts receivable41€4,821
Cash at bank and in hand54/58€6,934
Equity and liabilities
Total equity and liabilities10/49€464,255
Equity10/15€73,384
Contributions10/11€100,000
Profit (loss) carried forward14-€26,616
Amounts payable17/49€390,870
Amounts payable after more than one year17€284,571
Financial debts170/4€284,571
Amounts payable within one year42/48€97,077
Current portion of amounts payable after more than one year42€43,714
Trade debts44€403
Suppliers440/4€403
Other amounts payable47/48€52,960
Accrued charges and deferred income492/3€9,222
Income statement Code2025
Other operating charges640/8€178
Gross operating margin9900€392
Operating profit (loss)9901€214
Financial charges65/66B€26,829
Recurring financial charges65€26,829
Profit (loss) for the period before taxes9903-€26,616
Profit (loss) for the period9904-€26,616
Profit (loss) for the period to be appropriated9905-€26,616
Appropriation of the result
Profit (loss) to be appropriated9906-€26,616

The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2025
Other operating charges640/8€178
Gross operating margin9900€392
Operating profit (loss)9901€214
Financial charges65/66B€26,829
Recurring financial charges65€26,829
Profit (loss) for the period before taxes9903-€26,616
Profit (loss) for the period9904-€26,616
Profit (loss) for the period to be appropriated9905-€26,616
Line2025
Assets
Total assets20/58€464,255
Fixed assets21/28€428,500
Financial fixed assets28€428,500
Current assets29/58€35,755
Amounts receivable within one year40/41€28,821
Trade receivables40€24,000
Other amounts receivable41€4,821
Cash at bank and in hand54/58€6,934
Equity and liabilities
Total equity and liabilities10/49€464,255
Equity10/15€73,384
Contributions10/11€100,000
Profit (loss) carried forward14-€26,616
Amounts payable17/49€390,870
Amounts payable after more than one year17€284,571
Financial debts170/4€284,571
Amounts payable within one year42/48€97,077
Current portion of amounts payable after more than one year42€43,714
Trade debts44€403
Suppliers440/4€403
Other amounts payable47/48€52,960
Accrued charges and deferred income492/3€9,222
Line2025
Profit (loss) for the period9904-€26,616
Operating cash flow (approximation)-€26,616

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
21-08
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
NBB filing
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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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, Kortrijk · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
1,682 m²
Building footprint
235 m²
Volume, LiDAR
1,120 m³
Parcel 34022E1024/00L000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Borealis
't Helleke(Kor) 11, 8500 KortrijkHoldings
since 20242.359.699.006
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34022E1024/00L000 Flanders 1,682 m² 1 · 234 m² 7.3 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.

Structure & network

Owners and holdings

1 owner · 1 holding

Chain of control

  1. AXIS 80%
  2. Borealis

Highest known parent: AXIS. The sources do not say who stands above it.

Owners 1

Holdings 1

According to the 2025 annual accounts of Borealis and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Identification & contact

Identification
Legal formPrivate limited company
Founded26-04-2024
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID 0208:1008861465
Also 9925:BE1008861465
Registered 03-11-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.