CROSSWORD
ActiveSummary
CROSSWORD has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€47,528) and a net result of €9,456. Equity is shrinking by ~17.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 4345 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+30
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.16 against 0.11 in 2023; short-term debt: 632% and cash: 0.3% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
-532%
Return on assets
105.8%
Age of the figures
21 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 4345 sector peers (2024).
NBB · sector comparisonPosition among 4345 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-10-2025, 65 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
not confirmed
2024
65 d late
2023
46 d late
2022
105 d late
2021
69 d late
2020
122 d late
2019
114 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 87 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€47,528▲ 16.6%
2023 · -€56,984
Total assets
€8,934▲ 19.1%
2023 · €7,500
Net result
€9,456▲ 261%
2023 · €2,616
Working capital
-€47,644▲ 16.8%
2023 · -€57,275
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€4,547▲ 84.2%-€10,387▼ 128%-€12,593▼ 21.2%€4,939€11,546▲ 134%
Net result-€6,211below the sector's middle half▲ 79.2%-€11,419below the sector's middle half▼ 83.9%-€13,702below the sector's middle half▼ 20.0%€2,616within the sector's middle half€9,456within the sector's middle half▲ 261%
Equity-€34,479below the sector's middle half▼ 22.0%-€45,898below the sector's middle half▼ 33.1%-€59,600below the sector's middle half▼ 29.9%-€56,984below the sector's middle half▲ 4.4%-€47,528below the sector's middle half▲ 16.6%
Total assets€37,686below the sector's middle half▼ 29.4%€8,946below the sector's middle half▼ 76.3%€8,890below the sector's middle half▼ 0.6%€7,500below the sector's middle half▼ 15.6%€8,934below the sector's middle half▲ 19.1%
Debt€72,165▼ 11.7%€54,844▼ 24.0%€68,490▲ 24.9%€64,484▼ 5.8%€56,462▼ 12.4%
Working capital-€38,814below the sector's middle half▼ 17.3%-€46,538below the sector's middle half▼ 19.9%-€60,065below the sector's middle half▼ 29.1%-€57,275below the sector's middle half▲ 4.6%-€47,644below the sector's middle half▲ 16.8%
Solvency-91.5%below the sector's middle half▼ 38.6pp-513.1%below the sector's middle half▼ 421.6pp-670.4%below the sector's middle half▼ 157.4pp-759.8%below the sector's middle half▼ 89.4pp-532.0%below the sector's middle half▲ 227.8pp
Current ratio0.45below the sector's middle half▼ 0.110.15below the sector's middle half▼ 0.300.12below the sector's middle half▼ 0.030.11below the sector's middle half▼ 0.010.16below the sector's middle half▲ 0.04
Return on assets (ROA)-16.5%below the sector's middle half▲ 39.5pp-127.6%below the sector's middle half▼ 111.2pp-154.1%below the sector's middle half▼ 26.5pp34.9%above the sector's middle half▲ 189.0pp105.8%above the sector's middle half▲ 71.0pp
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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 134% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €8,934
Fixed assets
€116 ▼ 60.1%
Current assets
€8,818 ▲ 22.3%
Equity and liabilities
Equity-€47,528
Debt€56,462
Equity is negative: debt (€56,462) exceeds the balance-sheet total (€8,934).
Key figures and ratios
EBITDA
€11,721▲
2023 · €5,113
Cash flow
€9,631▲
2023 · €2,790
Interest coverage
5.98▲
2023 · 2.44
Debt ≤ 1 year
€56,462▼
2023 · €64,484
Income taxes
€131▼
2023 · €237
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,341 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% | 1.8% |
| 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 3,795 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,712 | €5,532 | €175 | €174 | €175 | ▲ 0.6% |
| Other operating charges640/8 | - | €827 | €832 | €1,113 | €852 | ▼ 23.5% |
| Gross operating margin9900 | €2,079 | -€4,028 | -€11,586 | €6,226 | €12,573 | ▲ 102% |
| Operating profit (loss)9901 | -€4,547 | -€10,387 | -€12,593 | €4,939 | €11,546 | ▲ 134% |
| Financial income75/76B | - | €1 | - | €10 | - | - |
| Recurring financial income75 | €12 | €1 | - | €10 | - | - |
| Financial charges65/66B | - | €916 | €993 | €2,096 | €1,959 | ▼ 6.5% |
| Recurring financial charges65 | €1,676 | €916 | €993 | €2,096 | €1,959 | ▼ 6.5% |
| Profit (loss) for the period before taxes9903 | -€6,211 | -€11,302 | -€13,586 | €2,853 | €9,587 | ▲ 236% |
| Income taxes67/77 | - | €117 | €116 | €237 | €131 | ▼ 44.7% |
| Profit (loss) for the period9904 | -€6,211 | -€11,419 | -€13,702 | €2,616 | €9,456 | ▲ 261% |
| Profit (loss) for the period to be appropriated9905 | -€6,211 | -€11,419 | -€13,702 | €2,616 | €9,456 | ▲ 261% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €37,686 | €8,946 | €8,890 | €7,500 | €8,934 | ▲ 19.1% |
| Fixed assets21/28 | €6,172 | €640 | €465 | €291 | €116 | ▼ 60.1% |
| Tangible fixed assets22/27 | €6,172 | €640 | €465 | €291 | €116 | ▼ 60.1% |
| Furniture and vehicles24 | - | €640 | €465 | €291 | €116 | ▼ 60.1% |
| Current assets29/58 | €31,514 | €8,306 | €8,425 | €7,209 | €8,818 | ▲ 22.3% |
| Amounts receivable within one year40/41 | €28,230 | €7,518 | €5,455 | €6,568 | €8,156 | ▲ 24.2% |
| Trade receivables40 | - | €7,518 | €4,299 | €6,364 | €8,067 | ▲ 26.8% |
| Other amounts receivable41 | - | - | €1,156 | €204 | €89 | ▼ 56.4% |
| Cash at bank and in hand54/58 | €2,509 | €36 | €60 | €38 | €25 | ▼ 34.2% |
| Deferred charges and accrued income490/1 | - | €752 | €2,910 | €603 | €637 | ▲ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €37,686 | €8,946 | €8,890 | €7,500 | €8,934 | ▲ 19.1% |
| Equity10/15 | -€34,479 | -€45,898 | -€59,600 | -€56,984 | -€47,528 | ▲ 16.6% |
| Contributions10/11 | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€48,733 | -€60,152 | -€73,854 | -€71,238 | -€61,782 | ▲ 13.3% |
| Amounts payable17/49 | €72,165 | €54,844 | €68,490 | €64,484 | €56,462 | ▼ 12.4% |
| Amounts payable after more than one year17 | €1,837 | - | - | - | - | - |
| Amounts payable within one year42/48 | €70,328 | €54,844 | €68,490 | €64,484 | €56,462 | ▼ 12.4% |
| Current portion of amounts payable after more than one year42 | - | €1,837 | - | - | - | - |
| Financial debts43 | - | €568 | €12,377 | €11,873 | €4,866 | ▼ 59.0% |
| Credit institutions430/8 | - | €568 | €12,377 | €11,873 | €4,866 | ▼ 59.0% |
| Trade debts44 | €29,232 | €6,429 | €5,480 | €5,120 | €3,877 | ▼ 24.3% |
| Suppliers440/4 | - | €6,429 | €5,480 | €5,120 | €3,877 | ▼ 24.3% |
| Taxes, remuneration and social security45 | - | €908 | €50,633 | €47,491 | €25 | ▼ 99.9% |
| Taxes450/3 | - | €908 | €775 | €25 | €25 | = |
| Remuneration and social security454/9 | - | - | €49,858 | €47,466 | - | - |
| Other amounts payable47/48 | - | €45,102 | - | - | €47,694 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,211 | -€11,419 | -€13,702 | €2,616 | €9,456 | ▲ 261% |
| + Depreciation and write-downs630 | €5,712 | €5,532 | €175 | €174 | €175 | ▲ 0.6% |
| Operating cash flow (approximation) | -€499 | -€5,887 | -€13,527 | €2,790 | €9,631 | ▲ 245% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,473 | €24 | -€22 | -€13 | ▲ 40.9% |
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
2025
04-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 65 days late
2024
31-12
Financial
Highest result since 2018net €9,456 ▲261%
Operating result €11,546, net result €9,456, both a record.
15-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 46 days late
2023
31-12
Financial
Back to profitnet €2,616
Net result €2,616 after 4 loss-making years.
13-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 105 days late
2022
08-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 69 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 122 days late
2020
22-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 114 days late
2019
31-12
Financial
Weakest financial yearnet -€29,904
Net result drops to -€29,904, the lowest in the series; recovery starts the following year.
05-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 66 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 56 days late
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 60 days late
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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Evere · 1 establishment unit since 1991
Ground area
506 m²
Building footprint
206 m²
Volume, LiDAR
3,800 m³
2 parcels, Brussels · tallest building 27.4 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
CROSSWORD
since 19912.053.019.054
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21006A0162/00H003 | Brussels | 338 m² | 1 · 66 m² | 11.1 m · 3 fl. |
| 21904B0452/00R002 | Brussels | 168 m² | 1 · 140 m² | 27.4 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 4,522 companies in this sector we hold annual accounts for 721. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded17-05-1991
Fiscal year end31-12
Activities, NACEBEL 2025
74301Translation services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444180717
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.