CONNECTIONS
ActiveSummary
CONNECTIONS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €201,387 and a net result of €43,602. Equity is growing by ~26.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▼-9
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 5.01 against 19.82 in 2024; short-term debt: 17.1% and cash: 58.3% of total assets), and 17.1% 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
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
82.9%
Return on assets
18%
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 27-08-2026, 27 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 · 10 filingsDeviation from the deadline
2025
27 d late
2024
26 d late
2023
29 d late
2023
31 d early
2022
34 d early
2021
56 d early
2020
63 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 15 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 27 August (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€201,387▲ 2.3%
2024 · €196,767
Total assets
€242,896▲ 18.0%
2024 · €205,830
Net result
€43,602▼ 37.2%
2024 · €69,460
Working capital
€166,275▼ 2.5%
2024 · €170,615
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202320242025
Operating result€54,265▲ 137%€64,831▲ 19.5%€90,590-€99,059▲ 9.3%€63,846▼ 35.5%
Net result€35,380▲ 882%€42,294▲ 19.5%€66,942-€69,460▲ 3.8%€43,602▼ 37.2%
Equity€129,771▲ 37.5%€84,265▼ 35.1%€127,307-€196,767▲ 54.6%€201,387▲ 2.3%
Total assets€211,407▲ 23.0%€229,633▲ 8.6%€145,188-€205,830▲ 41.8%€242,896▲ 18.0%
Debt€81,636▲ 5.3%€145,368▲ 78.1%€17,881-€9,063▼ 49.3%€41,509▲ 358%
Working capital€193,717▲ 29.8%€102,074▼ 47.3%€99,804-€170,615▲ 71.0%€166,275▼ 2.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €242,896
Fixed assets
€35,112 ▲ 34.3%
Current assets
€207,784 ▲ 15.6%
Equity and liabilities €242,896
Equity
€201,387 ▲ 2.3%
Debt
€41,509 ▲ 358%
Debt's share of the balance-sheet total rises from 4.4% to 17.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€72,036▼
2024 · €105,870
Cash flow
€51,791▼
2024 · €76,270
Current ratio
5.01▼
2024 · 19.82
Debt to equity
0.21▲
2024 · 0.05
ROE
21.7%▼
2024 · 35.3%
ROA
18.0%▼
2024 · 33.7%
Interest coverage
24.58▼
2024 · 51.27
Debt ≤ 1 year
€41,509▲
2024 · €9,063
Income taxes
€17,320▼
2024 · €27,552
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,370 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 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €3,147 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,670 | €5,767 | €6,062 | €6,811 | €8,189 | ▲ 20.2% |
| Other operating charges640/8 | - | €1,593 | €1,827 | €1,648 | €1,705 | ▲ 3.5% |
| Gross operating margin9900 | €63,082 | €72,191 | €98,480 | €107,517 | €73,741 | ▼ 31.4% |
| Operating profit (loss)9901 | €54,265 | €64,831 | €90,590 | €99,059 | €63,846 | ▼ 35.5% |
| Financial income75/76B | €4,049 | €274 | €5,360 | €18 | €6 | ▼ 67.4% |
| Recurring financial income75 | €4,049 | €274 | €5,360 | €18 | €6 | ▼ 67.4% |
| Financial charges65/66B | €5,285 | €2,870 | €629 | €2,065 | €2,930 | ▲ 41.9% |
| Recurring financial charges65 | €5,285 | €2,870 | €629 | €2,065 | €2,930 | ▲ 41.9% |
| Profit (loss) for the period before taxes9903 | €53,029 | €62,235 | €95,320 | €97,012 | €60,922 | ▼ 37.2% |
| Income taxes67/77 | €17,649 | €19,941 | €28,378 | €27,552 | €17,320 | ▼ 37.1% |
| Profit (loss) for the period9904 | €35,380 | €42,294 | €66,942 | €69,460 | €43,602 | ▼ 37.2% |
| Profit (loss) for the period to be appropriated9905 | €35,380 | €42,294 | €66,942 | €69,460 | €43,602 | ▼ 37.2% |
| Line | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €211,407 | €229,633 | €145,188 | €205,830 | €242,896 | ▲ 18.0% |
| Fixed assets21/28 | €15,299 | €22,646 | €29,667 | €26,152 | €35,112 | ▲ 34.3% |
| Tangible fixed assets22/27 | €15,299 | €22,646 | €29,667 | €26,152 | €35,112 | ▲ 34.3% |
| Plant, machinery and equipment23 | €9,418 | €7,682 | €15,888 | €15,120 | €24,055 | ▲ 59.1% |
| Furniture and vehicles24 | €5,881 | €14,965 | €13,780 | €11,032 | €11,057 | ▲ 0.2% |
| Current assets29/58 | €196,108 | €206,987 | €115,521 | €179,678 | €207,784 | ▲ 15.6% |
| Amounts receivable within one year40/41 | €129,071 | €139,550 | €50,249 | €56,051 | €63,403 | ▲ 13.1% |
| Trade receivables40 | - | €3,000 | - | €717 | - | - |
| Other amounts receivable41 | €129,071 | €136,550 | €50,249 | €55,334 | €63,403 | ▲ 14.6% |
| Cash at bank and in hand54/58 | €67,037 | €65,536 | €63,531 | €121,565 | €141,527 | ▲ 16.4% |
| Deferred charges and accrued income490/1 | - | €1,901 | €1,741 | €2,062 | €2,853 | ▲ 38.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €211,407 | €229,633 | €145,188 | €205,830 | €242,896 | ▲ 18.0% |
| Equity10/15 | €129,771 | €84,265 | €127,307 | €196,767 | €201,387 | ▲ 2.3% |
| Contributions10/11 | €24,000 | €24,000 | €100 | €100 | €100 | = |
| Outside capital11 | - | €24,000 | €100 | €100 | €100 | = |
| Other1109/19 | - | €24,000 | €100 | €100 | €100 | = |
| Reserves13 | €3,000 | €60,265 | €127,207 | €196,667 | €200,685 | ▲ 2.0% |
| Non-distributable reserves130/1 | €3,000 | - | - | - | - | - |
| Reserves not available under the articles1311 | €3,000 | - | - | - | - | - |
| Distributable reserves133 | - | €60,265 | €127,207 | €196,667 | €200,685 | ▲ 2.0% |
| Profit (loss) carried forward14 | €102,771 | - | - | - | €602 | - |
| Amounts payable17/49 | €81,636 | €145,368 | €17,881 | €9,063 | €41,509 | ▲ 358% |
| Amounts payable after more than one year17 | €59,669 | €40,455 | - | - | - | - |
| Financial debts170/4 | €59,669 | €40,455 | - | - | - | - |
| Amounts payable within one year42/48 | €2,391 | €104,912 | €15,717 | €9,063 | €41,509 | ▲ 358% |
| Current portion of amounts payable after more than one year42 | - | €9,271 | - | - | - | - |
| Trade debts44 | €2,118 | €5,713 | €9,023 | €2,118 | €30 | ▼ 98.6% |
| Suppliers440/4 | €2,118 | €5,713 | €9,023 | €2,118 | €30 | ▼ 98.6% |
| Taxes, remuneration and social security45 | - | €2,128 | €6,694 | €6,946 | €5,030 | ▼ 27.6% |
| Taxes450/3 | - | €2,128 | €6,694 | €6,946 | €5,030 | ▼ 27.6% |
| Other amounts payable47/48 | €274 | €87,800 | - | - | €36,448 | - |
| Accrued charges and deferred income492/3 | €19,576 | - | €2,164 | - | - | - |
| Line | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,380 | €42,294 | €66,942 | €69,460 | €43,602 | ▼ 37.2% |
| + Depreciation and write-downs630 | €5,670 | €5,767 | €6,062 | €6,811 | €8,189 | ▲ 20.2% |
| Operating cash flow (approximation) | €41,050 | €48,061 | €73,004 | €76,270 | €51,791 | ▼ 32.1% |
| Investment in fixed assets (approximation) | - | -€13,115 | - | -€3,296 | -€17,149 | ▼ 420% |
| Change in cash | - | -€1,501 | - | €58,034 | €19,962 | ▼ 65.6% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
31-12
Financial
Equity above €200,000Eq €201,387 ▲2.3%
8 profitable years in a row build equity to €201,387.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Highest result since 2019net €69,460 ▲3.8%
Operating result €99,059, net result €69,460, both a record.
31-12
Financial
Liquidity triplescurrent ratio 19.82
Current ratio from 7.35 to 19.82; short-term debt falls from €15,717 to €9,063.
31-12
Financial
Equity above €150,000Eq €196,767 ▲54.6%
7 profitable years in a row build equity to €196,767.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Liquidity quadruplescurrent ratio 7.35
Current ratio from 1.97 to 7.35; short-term debt falls from €104,912 to €15,717.
31-12
Financial
Equity above €100,000Eq €127,307 ▲51.1%
6 profitable years in a row build equity to €127,307.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-01
Financial
Liquidity times 6current ratio 82.02
Current ratio from 13.33 to 82.02; short-term debt falls from €12,108 to €2,391.
Show earlier events
31-01
Financial
Equity above €100,000Eq €129,771 ▲37.5%
4 profitable years in a row build equity to €129,771.
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-01
Financial
Weakest financial yearnet €3,602 ▼90.6%
Net result drops to €3,602, the lowest in the series; recovery starts the following year.
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 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, Ukkel · 1 establishment unit since 2004
Ground area
6,833 m²
Building footprint
362 m²
Volume, LiDAR
4,672 m³
Parcel 21614H0006/00P017, Brussels · tallest building 18.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
de Foestraetslaan 11, 1180 Ukkel
since 20042.331.153.686
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0006/00P017 | Brussels | 6,833 m² | 1 · 362 m² | 18.3 m · 4 fl. |
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.
Identification & contact
Identification
Legal formPrivate limited company
Founded23-11-2004
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0870133847
Also
9925:BE0870133847
Registered
10-06-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.