BULLES
ActiveBULLES has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.53M and a net result of €-44k. Equity is shrinking by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 63% of 7321 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency64=
Growth58=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days only on tighter terms
Liquidity short (current ratio 0.23 against 0.16 in 2024), and 44.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 41
Relative position
BE, all sectors
reference
Sector 41
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 2025Solvency, return and age of the figures
Solvency
55.8%
Return on assets
-1.6%
Age of the figures
11 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€44k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 19-03-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 d early
2024
27 d early
2023
39 d early
2022
44 d early
2021
33 d early
2020
37 d early
2019
27 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.53M▼ 2.8%
2024 · €1.58M
2018: €2.27M
2019: €2.00M
2020: €1.75M
2021: €1.59M
2022: €1.66M
2023: €1.62M
2024: €1.58M
2018 → 2025
Total assets
€2.75M▼ 1.7%
2024 · €2.80M
2018: €2.46M
2019: €3.00M
2020: €3.16M
2021: €2.95M
2022: €3.02M
2023: €2.98M
2024: €2.80M
2018 → 2025
Net result
€-44k▼ 15.7%
2024 · €-38k
2018: €-142k
2019: €-268k
2020: €-253k
2021: €-161k
2022: €67k
2023: €-40k
2024: €-38k
2018 → 2025
Working capital
€-936k▲ 8.4%
2024 · €-1.02M
2018: €295k
2019: €-830k
2020: €-1.24M
2021: €-1.23M
2022: €-1.17M
2023: €-1.08M
2024: €-1.02M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.59M-€1.66M▲ 4.2%€1.62M▼ 2.4%€1.58M▼ 2.4%€1.53M▼ 2.8%
Operating result€-161k-€67k€-40k€-38k▲ 3.8%€-44k▼ 15.4%
Net result€-161k-€67k€-40k€-38k▲ 3.8%€-44k▼ 15.7%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €44k in 2025 against €38k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.75M
Fixed assets
€2.48M▼ 5.0%
Current assets
€272k▲ 43.1%
Equity and liabilities €2.75M
Equity
€1.53M▼ 2.8%
Debt
€1.22M▼ 0.4%
The debt ratio rises from 43.6% to 44.2%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€87k▼
2024 · €89k
Cash flow
€87k▼
2024 · €89k
Solvency
55.8%▼
2024 · 56.4%
Current ratio
0.23▲
2024 · 0.16
Quick ratio
0.23▲
2024 · 0.16
Debt / equity
0.79▲
2024 · 0.77
ROE
-2.9%▼
2024 · -2.4%
ROA
-1.6%▼
2024 · -1.4%
Interest coverage
529.02▼
2024 · 1984.65
Debt
€1.22M▼
2024 · €1.22M
Debt ≤ 1 year
€1.21M▼
2024 · €1.21M
Debt > 1 year
€4k=
2024 · €4k
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€2.80M€2.75M▼
Fixed assets21/28€2.61M€2.48M▼
Tangible fixed assets22/27€2.61M€2.48M▼
Land and buildings22€2.59M€2.47M▼
Plant, machinery and equipment23€12k€9k▼
Furniture and vehicles24€1k€1k▼
Financial fixed assets28€550€550=
Current assets29/58€190k€272k▲
Amounts receivable within one year40/41€98k€84k▼
Trade receivables40€37k€36k▼
Other amounts receivable41€62k€47k▼
Cash at bank and in hand54/58€92k€187k▲
Deferred charges and accrued income490/1-€1k
Equity and liabilities
Total equity and liabilities10/49€2.80M€2.75M▼
Equity10/15€1.58M€1.53M▼
Contributions10/11€3.00M€3.00M=
Profit (loss) carried forward14€-1.42M€-1.47M▼
Amounts payable17/49€1.22M€1.22M▼
Amounts payable after more than one year17€4k€4k=
Other amounts payable178/9€4k€4k=
Amounts payable within one year42/48€1.21M€1.21M▼
Trade debts44€4k€85▼
Suppliers440/4€4k€85▼
Other amounts payable47/48€1.21M€1.21M=
Accrued charges and deferred income492/3€6k€5k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€127k€131k▲
Other operating charges640/8€14k€26k▲
Gross operating margin9900€103k€113k▲
Operating profit (loss)9901€-38k€-44k▼
Financial income75/76B€7€18▲
Recurring financial income75€7€18▲
Financial charges65/66B€45€164▲
Recurring financial charges65€45€164▲
Profit (loss) for the period before taxes9903€-38k€-44k▼
Profit (loss) for the period9904€-38k€-44k▼
Profit (loss) for the period to be appropriated9905€-38k€-44k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.42M€-1.47M▼
Profit (loss) brought forward from the previous period14P€-1.38M€-1.42M▼
The notes to these accounts (5 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
19-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €67k
Net result €67k after 4 loss-making years.
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet €-268k
Net result drops to €-268k, the lowest in the series; recovery starts the following year.
12-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-04
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Gent · 1 establishment unit since 2002
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.
Orchideestraat 989041 GentGround area
5.5 ha
Building footprint
641 m²
Volume, LiDAR
4,036 m³
Parcel 44051C0483/00G000, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Orchideestraat 98, 9041 Gent
since 20022.115.385.007
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44051C0483/00G000 | Flanders | 5.5 ha | 1 · 641 m² | 10.6 m · 2 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.
Similar companies · same sector, comparable size
MAGE CONSTRUCT
BE 0870.371.793
Frameries · Eq €1.53M
RENOVATION DE CONSTRUCTION
BE 0866.799.819
Mons · Eq €1.53M
Andrebo - Beheer
BE 0445.260.880
Hove · Eq €1.53M
CORPUSS
BE 0450.892.325
Wervik · Eq €1.53M
MATTHYS PROJECTEN
BE 0455.982.152
Kruisem · Eq €1.54M
Of 29,535 companies in sector 41001 we hold annual accounts for 15,872. 4,853 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-10-2002
Fiscal year end30-09
Activities, NACEBEL
41001General construction of residential buildings
45211
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.