CUNCTATOR
ActiveCUNCTATOR has been active since 1940 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €206k and a net result of €-82k. Equity is shrinking by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 88% of 4450 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth32▼-26
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 5.26), and 9.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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 -€82k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
28 d late
2023
51 d early
2022
25 d early
2021
47 d early
2020
10 d late
2019
7 d late
← before the deadline
after the deadline →
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
08-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-82k▼ 130%
2024 · €-35k
2018: €-48k
2019: €-40k
2020: €-44k
2021: €169k
2022: €-42k
2023: €-34k
2024: €-35k
2018 → 2025
Working capital
€91k▼ 59.2%
2023 · €222k
2018: €27k
2019: €33k
2020: €26k
2021: €272k
2022: €253k
2023: €222k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€399k-€357k▼ 10.6%€323k▼ 9.6%€287k▼ 11.0%€206k▼ 28.4%
Operating result€169k-€-42k€-34k▲ 18.3%€-35k▼ 3.4%€-83k▼ 134%
Net result€169k-€-42k€-34k▲ 19.2%€-35k▼ 3.4%€-82k▼ 130%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €83k in 2025 against €35k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €227k
Fixed assets
€115k▲ 29.3%
Current assets
€112k▼ 43.5%
Equity and liabilities €227k
Equity
€206k
Debt
€21k
Debt finances 9.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€-72k▼
2024 · €-24k
Cash flow
€-71k▼
2024 · €-24k
Solvency
90.6%▼
2024 · 100.0%
Current ratio
5.26
Quick ratio
5.26
Debt / equity
0.10
ROE
-39.6%▼
2024 · -12.4%
ROA
-35.9%▼
2024 · -12.4%
Interest coverage
-863.35▼
2024 · -480.12
Debt
€21k
Debt ≤ 1 year
€21k
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€287k€227k▼
Fixed assets21/28€89k€115k▲
Tangible fixed assets22/27€89k€115k▲
Land and buildings22€54k€54k=
Other tangible fixed assets26€35k€61k▲
Current assets29/58€198k€112k▼
Amounts receivable within one year40/41-€80k
Trade receivables40-€2k
Other amounts receivable41-€78k
Cash at bank and in hand54/58€196k€26k▼
Deferred charges and accrued income490/1€2k€6k▲
Equity and liabilities
Total equity and liabilities10/49€287k€227k▼
Equity10/15€287k€206k▼
Contributions10/11€132k€132k=
Capital10€132k€132k=
Issued capital100€132k€132k=
Reserves13€153k€73k▼
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Distributable reserves133€140k€60k▼
Profit (loss) carried forward14€2k€426▼
Amounts payable17/49-€21k
Amounts payable within one year42/48-€21k
Trade debts44-€21k
Suppliers440/4-€21k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€11k▼
Other operating charges640/8€8k€9k▲
Gross operating margin9900€-15k€-64k▼
Operating profit (loss)9901€-35k€-83k▼
Financial income75/76B-€2k
Recurring financial income75-€2k
Financial charges65/66B€49€84▲
Recurring financial charges65€49€84▲
Profit (loss) for the period before taxes9903€-35k€-82k▼
Profit (loss) for the period9904€-35k€-82k▼
Profit (loss) for the period to be appropriated9905€-35k€-82k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-822k€-80k▲
Profit (loss) brought forward from the previous period14P€-787k€2k▲
Transfer from equity791/2€824k€80k▼
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2025
31-12
Financial
Weakest financial yearnet €-82k
Net result drops to €-82k, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 131current ratio 1615.49
Current ratio from 12.34 to 1615.49; short-term debt falls from €24k to €157.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €169k
Net result €169k after 3 loss-making years.
31-12
Financial
Liquidity times 6current ratio 12.34
Current ratio from 2.10 to 12.34.
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
4 directors, last change in 2025
Emile Andernack
CurrentManaging director · since 16-04-2025
16-04-2025
Emile Andernack: Appointed as Managing director
16-04-2025
Denis ORTMANS: Resigned as Director
16-04-2025
Frédéric Lílien: Resigned as Director
13-05-2022
Denis ORTMANS: Appointed as Director
13-05-2022
Denis ORTMANS: Appointed as Managing director
13-05-2022
Stefan LILIEN: Resigned as Director
13-05-2022
Stefan LILIEN: Resigned as Managing director
Not every act has been read: a resignation may be missing here
6 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Theux · 1 establishment unit since 1990
Ground area
486 m²
Building footprint
379 m²
Volume, LiDAR
3,274 m³
2 parcels, Wallonia · tallest building 19.7 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Rue des Martyrs 28, 4800 Verviers
since 19902.010.905.218
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63060C0093/00N005 | Wallonia | 302 m² | 1 · 297 m² | 19.7 m · 2 fl. |
| 63079D0101/00M000 | Wallonia | 184 m² | 1 · 82 m² | 16.8 m · 5 fl. |
Linked by address, not proof of ownership
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.
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RESULTS
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Of 9,087 companies in sector 68201 we hold annual accounts for 6,717. 4,788 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-12-1940
Fiscal year end31-12
Activities, NACEBEL
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 07-09-2026. Scores and ratios are computed by Checked and are not a credit decision.