BRAINWORKS
ActiveSummary
BRAINWORKS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €872k and a net result of €51k. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 79% of 36375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
79
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability72▲+9
Solvency98▼-2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 14.94 against 38.21 in 2023; short-term debt: 4.6% and cash: 19.3% of total assets), and 26.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
73.3%
Return on assets
4.3%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
on the day
2022
31 d early
2021
18 d late
2020
19 d early
2019
1 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€872k▲ 6.3%
2023 · €821k
2018: €720k
2019: €745k
2020: €770k
2021: €790k
2022: €804k
2023: €821k
2018 → 2024
Total assets
€1.19M▲ 9.0%
2023 · €1.09M
2018: €942k
2019: €975k
2020: €1.01M
2021: €1.04M
2022: €1.07M
2023: €1.09M
2018 → 2024
Net result
€51k▲ 206%
2023 · €17k
2018: €24k
2019: €24k
2020: €25k
2021: €20k
2022: €14k
2023: €17k
2018 → 2024
Working capital
€756k▲ 6.1%
2023 · €712k
2018: €476k
2019: €511k
2020: €573k
2021: €604k
2022: €657k
2023: €712k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€770k-€790k▲ 2.6%€804k▲ 1.8%€821k▲ 2.1%€872k▲ 6.3%
Operating result€44k-€35k▼ 19.8%€28k▼ 20.9%€36k▲ 31.6%€83k▲ 129%
Net result€25k-€20k▼ 21.9%€14k▼ 27.8%€17k▲ 17.6%€51k▲ 206%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 129% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.19M
Fixed assets
€381k ▲ 5.4%
Current assets
€810k ▲ 10.8%
Equity and liabilities €1.19M
Equity
€872k ▲ 6.3%
Debt
€319k ▲ 17.2%
Debt's share of the balance-sheet total rises from 24.9% to 26.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€113k▲
2023 · €70k
Cash flow
€81k▲
2023 · €50k
Current ratio
14.94▼
2023 · 38.21
Debt to equity
0.37▲
2023 · 0.33
ROE
5.9%▲
2023 · 2.0%
ROA
4.3%▲
2023 · 1.5%
Interest coverage
5.71▲
2023 · 5.08
Debt ≤ 1 year
€54k▲
2023 · €19k
Debt > 1 year
€251k▲
2023 · €241k
Income taxes
€19k▲
2023 · €6k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.09M€1.19M▲
Fixed assets21/28€362k€381k▲
Tangible fixed assets22/27€362k€381k▲
Land and buildings22€356k€355k▼
Plant, machinery and equipment23€6k€6k▼
Furniture and vehicles24€0€21k▲
Current assets29/58€731k€810k▲
Amounts receivable within one year40/41€25k€37k▲
Trade receivables40€23k€35k▲
Other amounts receivable41€1k€1k▲
Current investments50/53-€540k
Cash at bank and in hand54/58€704k€230k▼
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€1.09M€1.19M▲
Equity10/15€821k€872k▲
Contributions10/11€474k€474k=
Capital10€0-
Issued capital100€0-
Outside capital11€474k€474k=
Other1109/19€474k€474k=
Reserves13€347k€398k▲
Non-distributable reserves130/1€0-
Legal reserve130€0-
Distributable reserves133€347k€398k▲
Amounts payable17/49€272k€319k▲
Amounts payable after more than one year17€241k€251k▲
Financial debts170/4€241k€251k▲
Amounts payable within one year42/48€19k€54k▲
Trade debts44€6k€17k▲
Suppliers440/4€6k€17k▲
Taxes, remuneration and social security45€12k€37k▲
Taxes450/3€12k€37k▲
Other amounts payable47/48€960€331▼
Accrued charges and deferred income492/3€12k€14k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€30k▼
Other operating charges640/8€6k€6k▲
Gross operating margin9900€76k€120k▲
Operating profit (loss)9901€36k€83k▲
Financial income75/76B€325€7k▲
Recurring financial income75€325€7k▲
Financial charges65/66B€14k€20k▲
Recurring financial charges65€14k€20k▲
Profit (loss) for the period before taxes9903€23k€70k▲
Income taxes67/77€6k€19k▲
Profit (loss) for the period9904€17k€51k▲
Profit (loss) for the period to be appropriated9905€17k€51k▲
Appropriation of the result
Profit (loss) to be appropriated9906€17k€51k▲
Transfer to equity691/2€17k€51k▲
To the legal reserve6920€0-
To other reserves6921€17k€51k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €51k ▲206%
Operating result €83k, net result €51k, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €14k ▼27.8%
Net result drops to €14k, the lowest in the series; recovery starts the following year.
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Kortenaken · 1 establishment unit since 1988
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.
Winkelveldstraat 4a3470 KortenakenGround area
1.3 ha
Building footprint
171 m²
Volume, LiDAR
833 m³
2 parcels, Flanders · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BRAINWORKS
since 19882.040.930.181
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24091B0121/00N000 | Flanders | 1.3 ha | 1 · 171 m² | 6.7 m · 2 fl. |
| 71020B0273/00T000 | Flanders | 242 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
9845004640CF2FI37996
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 3,304 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-10-1988
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
27120Manufacture of electrical equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.