CHAPITRE V
ActiveSummary
CHAPITRE V has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €91,992 and a net result of -€13,110. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 66% of 3507 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability7▼-77
Solvency92▲+18
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 2.69 against 1.88 in 2024; short-term debt: 33.1% and cash: 51.3% of total assets), and 33.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← 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
66.9%
Return on assets
-9.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-09-2026, 41 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
41 d late
2024
29 d late
2023
26 d late
2022
on the day
2021
9 d early
2020
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 20 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€91,992▼ 12.5%
2024 · €105,102
Total assets
€137,429▼ 35.4%
2024 · €212,820
Net result
-€13,110
2024 · €26,084
Working capital
€76,815▼ 18.7%
2024 · €94,519
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€16,712€70,722▲ 323%€12,904▼ 81.8%€32,952▲ 155%-€12,458
Net result€15,610within the sector's middle half€52,167above the sector's middle half▲ 234%€9,203within the sector's middle half▼ 82.4%€26,084within the sector's middle half▲ 183%-€13,110below the sector's middle half
Equity€17,648within the sector's middle half▲ 766%€69,816within the sector's middle half▲ 296%€79,019within the sector's middle half▲ 13.2%€105,102within the sector's middle half▲ 33.0%€91,992within the sector's middle half▼ 12.5%
Total assets€79,158within the sector's middle half▲ 96.5%€158,362within the sector's middle half▲ 100%€169,942within the sector's middle half▲ 7.3%€212,820within the sector's middle half▲ 25.2%€137,429within the sector's middle half▼ 35.4%
Debt€61,510▲ 60.8%€88,547▲ 44.0%€90,924▲ 2.7%€107,718▲ 18.5%€45,436▼ 57.8%
Working capital€6,946within the sector's middle half€61,411within the sector's middle half▲ 784%€69,086within the sector's middle half▲ 12.5%€94,519above the sector's middle half▲ 36.8%€76,815above the sector's middle half▼ 18.7%
Solvency22.3%within the sector's middle half▲ 17.2pp44.1%within the sector's middle half▲ 21.8pp46.5%within the sector's middle half▲ 2.4pp49.4%within the sector's middle half▲ 2.9pp66.9%within the sector's middle half▲ 17.6pp
Current ratio1.11within the sector's middle half▲ 0.341.72within the sector's middle half▲ 0.601.79within the sector's middle half▲ 0.071.88within the sector's middle half▲ 0.102.69within the sector's middle half▲ 0.81
Return on assets (ROA)19.7%within the sector's middle half▲ 29.6pp32.9%above the sector's middle half▲ 13.2pp5.4%within the sector's middle half▼ 27.5pp12.3%within the sector's middle half▲ 6.8pp-9.5%below the sector's middle half▼ 21.8pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €12,458 after €32,952 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,429
Fixed assets
€15,177 ▲ 32.5%
Current assets
€122,251 ▼ 39.3%
Equity and liabilities €137,429
Equity
€91,992 ▼ 12.5%
Debt
€45,436 ▼ 57.8%
Debt's share of the balance-sheet total falls from 50.6% to 33.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€6,335▼
2024 · €37,682
Cash flow
-€6,988▼
2024 · €30,814
Debt to equity
0.49▼
2024 · 1.02
ROE
-14.3%▼
2024 · 24.8%
Interest coverage
-9.68▼
2024 · 88.14
Debt ≤ 1 year
€45,436▼
2024 · €106,847
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,442 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
2.1%
went bankrupt
7.3%
stopped otherwise
90%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,442 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,892 | €4,738 | €4,895 | €4,730 | €6,122 | ▲ 29.4% |
| Other operating charges640/8 | €3 | €45 | €236 | €53 | €27 | ▼ 48.3% |
| Gross operating margin9900 | €20,607 | €75,506 | €18,035 | €37,735 | -€6,308 | ▼ 117% |
| Operating profit (loss)9901 | €16,712 | €70,722 | €12,904 | €32,952 | -€12,458 | ▼ 138% |
| Financial income75/76B | - | €0 | €0 | €27 | €2 | ▼ 92.2% |
| Recurring financial income75 | - | €0 | €0 | €27 | €2 | ▼ 92.2% |
| Financial charges65/66B | €210 | €582 | €528 | €428 | €654 | ▲ 53.0% |
| Recurring financial charges65 | €210 | €582 | €528 | €428 | €654 | ▲ 53.0% |
| Profit (loss) for the period before taxes9903 | €16,502 | €70,140 | €12,376 | €32,551 | -€13,110 | ▼ 140% |
| Income taxes67/77 | €892 | €17,973 | €3,173 | €6,467 | - | - |
| Profit (loss) for the period9904 | €15,610 | €52,167 | €9,203 | €26,084 | -€13,110 | ▼ 150% |
| Profit (loss) for the period to be appropriated9905 | €15,610 | €52,167 | €9,203 | €26,084 | -€13,110 | ▼ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €79,158 | €158,362 | €169,942 | €212,820 | €137,429 | ▼ 35.4% |
| Fixed assets21/28 | €10,702 | €11,226 | €13,117 | €11,454 | €15,177 | ▲ 32.5% |
| Intangible fixed assets21 | €900 | €800 | €700 | €600 | €500 | ▼ 16.7% |
| Tangible fixed assets22/27 | €9,802 | €10,427 | €12,417 | €10,854 | €14,678 | ▲ 35.2% |
| Plant, machinery and equipment23 | €9,802 | €10,427 | €12,417 | €9,954 | €13,976 | ▲ 40.4% |
| Furniture and vehicles24 | - | - | - | €900 | €702 | ▼ 22.0% |
| Current assets29/58 | €68,456 | €147,136 | €156,825 | €201,366 | €122,251 | ▼ 39.3% |
| Amounts receivable within one year40/41 | €20,070 | €4,459 | €7,287 | €22,821 | €51,758 | ▲ 127% |
| Trade receivables40 | €20,070 | €4,459 | €7,287 | €22,177 | €51,758 | ▲ 133% |
| Other amounts receivable41 | - | - | - | €645 | - | - |
| Cash at bank and in hand54/58 | €48,386 | €141,804 | €149,539 | €178,545 | €70,494 | ▼ 60.5% |
| Deferred charges and accrued income490/1 | - | €873 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €79,158 | €158,362 | €169,942 | €212,820 | €137,429 | ▼ 35.4% |
| Equity10/15 | €17,648 | €69,816 | €79,019 | €105,102 | €91,992 | ▼ 12.5% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €11,500 | €63,500 | €73,000 | €99,000 | €99,000 | = |
| Distributable reserves133 | €11,500 | €63,500 | €73,000 | €99,000 | €99,000 | = |
| Profit (loss) carried forward14 | €148 | €316 | €19 | €102 | -€13,008 | ▼ 12,825% |
| Amounts payable17/49 | €61,510 | €88,547 | €90,924 | €107,718 | €45,436 | ▼ 57.8% |
| Amounts payable after more than one year17 | - | €2,822 | €3,184 | €870 | - | - |
| Financial debts170/4 | - | €2,822 | €3,184 | €870 | - | - |
| Amounts payable within one year42/48 | €61,510 | €85,724 | €87,739 | €106,847 | €45,436 | ▼ 57.5% |
| Current portion of amounts payable after more than one year42 | €254 | €1,693 | €2,927 | €2,314 | €870 | ▼ 62.4% |
| Trade debts44 | €1,276 | €2,179 | €202 | - | €1,341 | - |
| Suppliers440/4 | €1,276 | €2,179 | €202 | - | €1,341 | - |
| Taxes, remuneration and social security45 | €7,990 | €29,307 | €16,518 | €17,784 | €19,968 | ▲ 12.3% |
| Taxes450/3 | €7,990 | €29,307 | €16,518 | €17,784 | €19,968 | ▲ 12.3% |
| Other amounts payable47/48 | €51,990 | €52,546 | €68,093 | €86,749 | €23,257 | ▼ 73.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,610 | €52,167 | €9,203 | €26,084 | -€13,110 | ▼ 150% |
| + Depreciation and write-downs630 | €3,892 | €4,738 | €4,895 | €4,730 | €6,122 | ▲ 29.4% |
| Operating cash flow (approximation) | €19,502 | €56,905 | €14,098 | €30,814 | -€6,988 | ▼ 123% |
| Investment in fixed assets (approximation) | - | -€5,262 | -€6,785 | -€3,067 | -€9,846 | ▼ 221% |
| Change in cash | - | €93,418 | €7,735 | €29,006 | -€108,051 | ▼ 473% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 41 days late
2025
31-12
Financial
Weakest financial yearnet -€13,110
Net result drops to -€13,110, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Equity above €100,000Eq €105,102 ▲33%
4 profitable years in a row build equity to €105,102.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2020net €52,167 ▲234%
Operating result €70,722, net result €52,167, both a record.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €15,610
Net result €15,610 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Assesse · 1 establishment unit since 2019
Ground area
4,995 m²
Building footprint
248 m²
Parcel 92006D0473/00L002, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CHAPITRE V
since 20192.297.737.978
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92006D0473/00L002 | Wallonia | 4,995 m² | 1 · 248 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,616. 2,174 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
59113Video and film production, excluding cinema and television films
74209Other photographic activities
90120Visual arts creation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738995191
Also
9925:BE0738995191
Registered
04-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.