BOVENISTIER MODEL
ActiveBOVENISTIER MODEL has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-16k) and a net result of €-4k. Equity is shrinking by ~27.5% per year across the filed fiscal years. Its solvency ranks better than 7% of 1983 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
28
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.45 against 0.4 in 2024; short-term debt: 214.9% of total assets), and equity is negative.
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 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-137.9%
Return on assets
-32.2%
Age of the figures
15 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-16k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-01-2026, 8 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
8 d early
2024
39 d early
2023
33 d early
2022
8 d early
2021
42 d early
2020
40 d early
2019
35 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close19-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-16k▼ 30.4%
2024 · €-12k
2019: €5k
2020: €-8k
2021: €-7k
2022: €-8k
2023: €-7k
2024: €-12k
2019 → 2025
Total assets
€11k▲ 26.8%
2024 · €9k
2019: €8k
2020: €227
2021: €140
2022: €3k
2023: €6k
2024: €9k
2019 → 2025
Net result
€-4k▲ 23.0%
2024 · €-5k
2019: €-7k
2020: €-13k
2021: €261
2022: €-858
2023: €920
2024: €-5k
2019 → 2025
Working capital
€-14k▼ 7.0%
2024 · €-13k
2019: €5k
2020: €-8k
2021: €-7k
2022: €-7k
2023: €-7k
2024: €-13k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-7k-€-8k▼ 11.7%€-7k▲ 11.3%€-12k▼ 65.5%€-16k▼ 30.4%
Operating result€545-€-428€2k€-4k€-3k▲ 34.9%
Net result€261-€-858€920€-5k€-4k▲ 23.0%
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 €3k in 2025 against €4k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11k
Fixed assets
€487▼ 24.4%
Current assets
€11k▲ 30.8%
Key figures and ratios
EBITDA
€-3k▲
2024 · €-4k
Cash flow
€-3k▲
2024 · €-5k
Solvency
-137.9%▼
2024 · -134.1%
Current ratio
0.45▲
2024 · 0.40
Quick ratio
0.45▲
2024 · 0.40
Debt / equity
-1.73▲
2024 · -1.75
ROA
-32.2%▲
2024 · -53.0%
Interest coverage
-2.56▲
2024 · -6.22
Debt
€27k▲
2024 · €21k
Debt ≤ 1 year
€24k▲
2024 · €21k
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€9k€11k▲
Fixed assets21/28€644€487▼
Tangible fixed assets22/27€644€487▼
Plant, machinery and equipment23€476€364▼
Furniture and vehicles24€167€123▼
Current assets29/58€8k€11k▲
Amounts receivable within one year40/41€8k€11k▲
Trade receivables40€8k€10k▲
Other amounts receivable41€228€1k▲
Equity and liabilities
Total equity and liabilities10/49€9k€11k▲
Equity10/15€-12k€-16k▼
Contributions10/11€12k€12k=
Profit (loss) carried forward14€-24k€-28k▼
Amounts payable17/49€21k€27k▲
Amounts payable within one year42/48€21k€24k▲
Financial debts43€3k€8k▲
Credit institutions430/8€3k€8k▲
Trade debts44€375€289▼
Suppliers440/4€375€289▼
Other amounts payable47/48€18k€17k▼
Accrued charges and deferred income492/3-€3k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€131€157▲
Other operating charges640/8€115-
Gross operating margin9900€-4k€-3k▲
Operating profit (loss)9901€-4k€-3k▲
Financial charges65/66B€640€983▲
Recurring financial charges65€640€983▲
Profit (loss) for the period before taxes9903€-5k€-4k▲
Profit (loss) for the period9904€-5k€-4k▲
Profit (loss) for the period to be appropriated9905€-5k€-4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-24k€-28k▼
Profit (loss) brought forward from the previous period14P€-20k€-24k▼
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
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
29-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Back to profitnet €920
Net result €920 after one loss-making year.
23-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Back to profitnet €261
Net result €261 after 2 loss-making years.
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
2019
27-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Brugge · 1 establishment unit since 2017
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.
Sint-Amandsstraat 378000 BruggeGround area
238 m²
Building footprint
210 m²
Volume, LiDAR
1,943 m³
Parcel 31804D0665/00D000, Flanders · tallest building 16.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Sint-Amandsstraat 37, 8000 Brugge
since 20172.305.186.786
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31804D0665/00D000 | Flanders | 238 m² | 1 · 210 m² | 16.3 m · 3 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Similar companies · same sector, comparable size
ANDREI LUGOVSKI MUSIC
BE 0553.588.502
Gent · Eq €5k
SEA OF CLOUDS
BE 0723.952.075
Brussel · Eq €5k
HEADD
BE 0466.850.310
Antwerpen · Eq €5k
SNAKES IN EXILE
BE 0463.728.789
Hasselt · Eq €5k
STUDIO TIMOTHY SEGERS
BE 0649.653.540
Antwerpen · Eq €5k
Of 8,303 companies in sector 90201 we hold annual accounts for 601. 253 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-08-2017
Fiscal year end30-06
Activities, NACEBEL
90201Performing arts by independent artists
90202Performing arts by artistic ensembles
90021Arts creation and performing arts activities
90029Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
90399Other support activities for arts and performing arts
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.