CZAR.BE
ActiveCZAR.BE has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €388k and a net result of €9k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 24% of 1608 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
69
/ 100
Healthy▼ -18 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▲+8
Solvency25▼-44
Growth52=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.72 in 2024), and 85.9% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 59
Relative position
BE, all sectors
reference
Sector 59
lower
← fewer bankruptcies
more bankruptcies →
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
14.1%
Return on assets
0.3%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 1608 sector peers (2025).
NBB · sector comparisonPosition among 1608 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
38 d early
2023
28 d early
2022
30 d late
2021
31 d early
2020
2 d early
2019
14 d early
← 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€388k▲ 2.4%
2024 · €379k
2018: €335k
2019: €324k
2020: €316k
2021: €403k
2022: €401k
2023: €376k
2024: €379k
2018 → 2025
Total assets
€2.75M▲ 148%
2024 · €1.11M
2018: €1.50M
2019: €1.12M
2020: €1.26M
2021: €1.37M
2022: €1.36M
2023: €1.32M
2024: €1.11M
2018 → 2025
Net result
€9k▲ 213%
2024 · €3k
2018: €68k
2019: €-11k
2020: €-8k
2021: €208k
2022: €-2k
2023: €-25k
2024: €3k
2018 → 2025
Working capital
€400k▲ 7.3%
2024 · €373k
2018: €38k
2019: €207k
2020: €264k
2021: €339k
2022: €462k
2023: €394k
2024: €373k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€403k-€401k▼ 0.5%€376k▼ 6.3%€379k▲ 0.8%€388k▲ 2.4%
Operating result€282k-€12k▼ 95.7%€-22k€15k€29k▲ 91.1%
Net result€208k-€-2k€-25k▼ 1,071%€3k€9k▲ 213%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 91% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.75M
Fixed assets
€179k▼ 17.0%
Current assets
€2.57M▲ 188%
Equity and liabilities €2.75M
Equity
€388k▲ 2.4%
Debt
€2.36M▲ 224%
The debt ratio rises from 65.8% to 85.9%: debt grows faster than equity.
Key figures and ratios
EBITDA
€67k▲
2024 · €48k
Cash flow
€47k▲
2024 · €35k
Solvency
14.1%▼
2024 · 34.2%
Current ratio
1.18▼
2024 · 1.72
Quick ratio
1.18▼
2024 · 1.72
Debt / equity
6.09▲
2024 · 1.93
ROE
2.3%▲
2024 · 0.8%
ROA
0.3%▲
2024 · 0.3%
Interest coverage
21.54▲
2024 · 15.91
Debt
€2.36M▲
2024 · €730k
Debt ≤ 1 year
€2.17M▲
2024 · €521k
Debt > 1 year
€11k▼
2024 · €29k
Income taxes
€19k▲
2024 · €13k
Staff costs
€465k▼
2024 · €465k
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€1.11M€2.75M▲
Fixed assets21/28€215k€179k▼
Intangible fixed assets21€120k€119k▼
Tangible fixed assets22/27€89k€60k▼
Plant, machinery and equipment23€30k€26k▼
Furniture and vehicles24€57k€33k▼
Other tangible fixed assets26€2k€1k▼
Financial fixed assets28€6k€0▼
Current assets29/58€894k€2.57M▲
Amounts receivable within one year40/41€781k€2.25M▲
Trade receivables40€725k€1.66M▲
Other amounts receivable41€56k€591k▲
Current investments50/53-€112k
Cash at bank and in hand54/58€112k€209k▲
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€1.11M€2.75M▲
Equity10/15€379k€388k▲
Contributions10/11€30k€30k=
Reserves13€3k€115k▲
Non-distributable reserves130/1-€112k
Reserves not available under the articles1311-€112k
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€346k€243k▼
Amounts payable17/49€730k€2.36M▲
Amounts payable after more than one year17€29k€11k▼
Financial debts170/4€29k€11k▼
Amounts payable within one year42/48€521k€2.17M▲
Current portion of amounts payable after more than one year42€18k€18k▲
Trade debts44€272k€448k▲
Suppliers440/4€272k€448k▲
Advances received on contracts in progress46€162k€1.10M▲
Taxes, remuneration and social security45€58k€55k▼
Taxes450/3€12k€3k▼
Remuneration and social security454/9€46k€52k▲
Other amounts payable47/48€11k€548k▲
Accrued charges and deferred income492/3€180k€180k=
Income statement
Code20242025
Remuneration, social security and pensions62€465k€465k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€37k▲
Other operating charges640/8€8k€6k▼
Non-recurring operating charges66A€5k€0▼
Gross operating margin9900€526k€537k▲
Operating profit (loss)9901€15k€29k▲
Financial income75/76B€4k€1k▼
Recurring financial income75€4k€1k▼
Financial charges65/66B€3k€3k▲
Recurring financial charges65€3k€3k▲
Profit (loss) for the period before taxes9903€16k€28k▲
Income taxes67/77€13k€19k▲
Profit (loss) for the period9904€3k€9k▲
Profit (loss) for the period to be appropriated9905€3k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€346k€355k▲
Profit (loss) brought forward from the previous period14P€343k€346k▲
Transfer to equity691/2-€112k
To other reserves6921-€112k
Social balance
Average headcount (FTE)90876.06.0=
The notes to these accounts (25 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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-25k
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €208k
Net result €208k after 2 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
17-10-2025
Lieven Van Baelen: Resigned as Director
07-12-2023
Lieven Van Baelen: Resigned as Director
07-12-2023
GYSEL Eurydice: Resigned as Director
07-12-2023
MORTIER Koen: Resigned as Director
07-12-2023
VANHOUTTEGHEM Peter: Resigned as Director
Location & real-estate footprint
Registered office, Sint-Jans-Molenbeek · 1 establishment unit since 2000
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Koolmijnenkaai 301080 Sint-Jans-MolenbeekGround area
1,911 m²
Building footprint
640 m²
Volume, LiDAR
11,472 m³
Parcel 21522B0349/00N000, Brussels · tallest building 21.0 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
CZAR & CCCP
since 20002.099.461.862
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21522B0349/00N000 | Brussels | 1,911 m² | 1 · 640 m² | 21.0 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Wallonia-Brussels Federation
2024 · 1 entry · 16,000 EUR in total| Year | Entries | paid |
|---|---|---|
| 2024 | 1 | 16,000 EUR |
Budget allocations
Aides à la création - hors Commission du Cinéma
European Union, budget
2022 · 1 entry · 180,000 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2022 | 1 | 180,000 EUR |
Projects
101053753 - SLATE 2021 - CZAR SLATE 2021
Similar companies · same sector, comparable size
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Ovation
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Of 2,568 companies in sector 59113 we hold annual accounts for 701. 435 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-11-1999
Fiscal year end31-12
Activities, NACEBEL
59113Video and film production, excluding cinema and television films
73110Advertising agencies
74401
92113
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.