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Brusselskaai

Active
Private limited companyfounded 20179 yrs activeLiefjeslaan(Kok) 2, 8670 Koksijde, BelgiumKBO/BCE: BE 0678.682.571
Summary

The annual accounts of Brusselskaai for fiscal year 2025 show a net loss of 87% of the equity at the start of that year. The 2025 annual accounts show equity of €15,259 and a net result of -€106,371. Equity is shrinking by ~14% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisWatch ReportCompare
BrusselskaaiActiveChecked score 53/100
Risk analysis ReportCompare

Overview

Activity
Activity not known1 site
Size
€8.8mtotal assets 2025
Equity
€15,259
Loss
-€106,371
Turnover not published (abridged schema)
Financial health
53 Fair Checked score 2025
Bankruptcy chance 12 m
0.3%
Structure
Largest shareholder
REAL UNITED · 50%
Accounts 56 d early0 of 2 deeds read
Why 53Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year- Liquidity: current ratio 2.27, cash €24,763, halved- Equity €15,259 (0.2% of total assets)+ Size: total assets €8.8m+ No main activity registeredShow the evidence

Checked score

Score 2025
53 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 15% of its sector peers (no NACE code, small)
Performance against the sector, not lower risk
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 25-1
equity 0.2% of total assets
Liquidity 29+1
short-term debt 44.0% · cash 0.3%
Profitability 34+1
return on assets -1.2%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 11-2024: 0.4% 12-2024: 0.4%● 0.0% vs 11-2024 01-2025: 0.4%● 0.0% vs 12-2024 02-2025: 0.4%▲ +2.1% vs 01-2025highest value 03-2025: 0.4%▼ -10.0% vs 02-2025 04-2025: 0.3%▼ -12.3% vs 03-2025 05-2025: 0.2%▼ -49.0% vs 04-2025 06-2025: 0.2%● 0.0% vs 05-2025 07-2025: 0.2%● 0.0% vs 06-2025 08-2025: 0.2%▼ -4.6% vs 07-2025 09-2025: 0.1%▼ -16.9% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%▼ -8.0% vs 11-2025lowest value 01-2026: 0.1%● 0.0% vs 12-2025lowest value 02-2026: 0.1%▲ +3.9% vs 01-2026 03-2026: 0.1%▼ -1.5% vs 02-2026 04-2026: 0.1%▲ +0.8% vs 03-2026 05-2026: 0.1%▲ +11.5% vs 04-2026 06-2026: 0.2%▲ +16.4% vs 05-2026 07-2026: 0.3%▲ +91.2% vs 06-2026 08-2026: 0.3%● 0.0% vs 07-2026 09-2026: 0.3%● 0.0% vs 08-2026 10-2026: 0.3%● 0.0% vs 09-2026
  • Size: total assets €8.8m lowers the probability for this profile
  • Liquidity: current ratio 2.27, cash €24,763, halved raises the probability
  • Equity €15,259 (0.2% of total assets) raises the probability
  • No main activity registered lowers the probability
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.27 against 2.12 in 2024; short-term debt: 44% and cash: 0.3% of total assets), but 99.8% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, small). Better than this share of them on solvency 11%, liquidity 19%, profitability 26%, growth against the median 3%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: total assets €8.8m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 2.27, cash €24,763, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Equity €15,259 (0.2% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · No main activity registered
In the bankruptcy model this factor lowers the probability.
KBO
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€106,371
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-06-2026, 56 days ahead of the deadline.
NBB · 8 filings
Deviation from the deadline
2025
56 d early
2024
112 d early
2023
63 d early
2022
116 d early
2021
153 d early
2020
150 d early
2019
98 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 107 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
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. Usually files around 10 April (4 of the last 5 filed years within 50 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
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
  1. Annual accounts filedfiscal year 2025 · micro…
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Weakest financial yearnet -€137,665

Key points

  • Risk: 5 loss-making years in a rowloss fiscal year 2025 -€106,371 View
  • Caution: Equity fell in 2025from €121,629 to €15,259 ▼ 87.5% View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View

By topic

Financials

Fiscal year
2025
Total assets
€8.8m
Loss
-€106,371
Solvency
0.2%
Total assets▲ 7.3%
Net result
20182025
Go to Financials

Timeline

Events
10
Since
2019
Next accounts
by 31-07-2027
  1. 05-06-2026Annual accounts filed
  2. 10-04-2025Annual accounts filed
  3. 31-12-2024Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Founded
18-07-2017
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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