Checked.be
Active
BE 0833.478.141Private limited company (pre-2019)
BX PUB
Lakensestraat 60 ·1000 Brussel, Belgium· 15 yrs active
Conclusion
The computed 12-month bankruptcy probability of BX PUB is 3.0% (moderate). The 2025 annual accounts show equity of €8k and a net result of €-2k. Equity is growing by ~13.6% per year across the filed fiscal years. The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €8k |
| Net result | €-2k |
| Active | 15 yrs |
| Locations | 2 |
Financial profile
40
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
15
Profitability
0
Solvency
5
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2011, 15 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
15
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
23
2023
51
2024
15
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.37 (< 1.0)
-10
Quick ratio
Quick ratio 0.37 (< 0.6)
-5
Leverage
Debt/equity 11.69 (> 3.0)
-10
Profitability
Negatieve ROE -24%
-10
Interest coverage
Interest coverage 3.0×
+3
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~13.6%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
€13k
-2.6%
23-25
€-2k
-
23-25
€6k
-48.8%
23-25
€98k
-11.4%
23-25
€8k
-19.6%
23-25
€-41k
+18.6%
23-25
€2k
-
23-25
€90k
-10.7%
23-25
€65k
-4.1%
23-25
€25k
-24.3%
23-25
0.37
+43.9%
23-25
0.37
+43.9%
23-25
7.9%
-9.2%
23-25
11.69
+11.2%
23-25
-24.4%
-
23-25
-1.9%
-
23-25
3.00
-72.3%
23-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €13k | €13k | €8k |
| Net profit | €-2k | €4k | €-3k |
| Cash flow | €6k | €12k | €6k |
| Staff costs | - | - | - |
| Income taxes | €2k | - | - |
| Dividends | - | - | - |
| Total assets | €98k | €111k | €119k |
| Equity | €8k | €10k | €6k |
| Debt | €90k | €101k | €113k |
| of which ≤ 1y | €65k | €68k | €71k |
| of which > 1y | €25k | €33k | €42k |
| Working capital | €-41k | €-51k | €-54k |
| Employees (FTE) | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 0.37 | 0.26 | 0.24 |
| Quick ratio | 0.37 | 0.26 | 0.24 |
| Working capital ratio | -42.1% | -45.8% | -45.4% |
| Solvency | 7.9% | 8.7% | 4.7% |
| Debt / equity | 11.69 | 10.51 | 20.11 |
| Long-term debt ratio | 3.22 | 3.42 | 7.41 |
| Interest coverage | 3.00 | 10.84 | 5.14 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | -1.9% | 3.6% | -2.3% |
| ROE | -24.4% | 41.5% | -48.4% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €98k | €111k | €119k |
| Fixed assets | 21/28 | €74k | €93k | €101k |
| Tangible fixed assets | 22/27 | €72k | €84k | €92k |
| Financial fixed assets | 28 | €2k | €9k | €9k |
| Current assets | 29/58 | €24k | €17k | €17k |
| Amounts receivable within one year | 40/41 | €24k | €17k | €17k |
| Cash & bank | 54/58 | €436 | - | - |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €98k | €111k | €119k |
| Equity | 10/15 | €8k | €10k | €6k |
| Contributions / capital | 10/11 | €6k | €6k | €6k |
| Accumulated profits (losses) | 14 | €2k | €3k | €-572 |
| Amounts payable | 17/49 | €90k | €101k | €113k |
| Amounts payable after one year | 17 | €25k | €33k | €42k |
| Amounts payable within one year | 42/48 | €65k | €68k | €71k |
| Trade debts payable within one year | 44 | €18k | €19k | €18k |
| Income statement | ||||
| Gross operating margin | 9900 | €16k | €18k | €12k |
| Operating result | 9901 | €5k | €5k | €-1k |
| Financial charges | 65 | €4k | €1k | €2k |
| Result before taxes | 9903 | €561 | €4k | €-3k |
| Income taxes | 67/77 | €2k | - | - |
| Net result for the period | 9904 | €-2k | €4k | €-3k |
| Result to be appropriated | 9905 | €-2k | €4k | €-3k |
Legal Structure
| NACE primary | - |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 04-02-2011 |
| Status | Active |
| Postal code | 1000 |
Establishment units
The Lab
since 20132.232.560.710
BAY STUDIO
since 20132.232.560.908
Real-estate footprint
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1116/00D000 | Brussels | 259 m² | 1 · 108 m² | 18.6 m · 5 fl. |
| 21812N1115/00K000 | Brussels | 110 m² | 1 · 88 m² | 18.7 m · 5 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
27-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 239 days late
27-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 605 days late
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
2023
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 242 days late
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 184 days late
2020
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 13 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
15-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 76 days late
15-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 441 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Names & trade names
| Legal nameFR | BX PUB |