David Szafran
ActiveDavid Szafran has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €380k and a net result of €84k. Equity is growing by ~26.5% per year across the filed fiscal years. Its solvency ranks better than 61% of 12665 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability87▲+3
Solvency92▼-2
Growth85=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 3.44 against 4.14 in 2024; short-term debt: 27.7% and cash: 8.8% of total assets), and 32.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 69
Relative position
BE, all sectors
reference
Sector 69
lower
← fewer bankruptcies
more bankruptcies →
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 · 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
67.1%
Return on assets
14.8%
Age of the figures
18 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 13-11-2025, 13 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 · 5 filingsDeviation from the deadline
2025
13 d late
2024
30 d late
2023
30 d late
2022
30 d late
2021
8 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close18-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Turnover
€0
2024 · €0
2021: €102k
2022: €479k
2024: €0
2021 → 2025
EBIT margin
50.3%▼ 0.3pp
2021 · 50.6%
2021: 50.6%
2021 → 2022
Net result
€84k▲ 61.2%
2024 · €52k
2021: €38k
2022: €184k
2023: €17k
2024: €52k
2021 → 2025
Working capital
€383k▲ 31.4%
2024 · €292k
2021: €37k
2022: €202k
2023: €229k
2024: €292k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€102k-€479k▲ 372%€0€0
Equity€43k-€227k▲ 425%€244k▲ 7.4%€296k▲ 21.3%€380k▲ 28.3%
Operating result€51k-€241k▲ 369%€21k▼ 91.3%€64k▲ 206%€104k▲ 63.0%
Net result€38k-€184k▲ 380%€17k▼ 90.8%€52k▲ 207%€84k▲ 61.2%
Turnover and EBIT margin not published: the micro 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 63% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €566k
Fixed assets
€26k▼ 38.1%
Current assets
€540k▲ 40.5%
Equity and liabilities €566k
Equity
€380k▲ 28.3%
Debt
€186k▲ 43.3%
The debt ratio rises from 30.5% to 32.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€121k▲
2024 · €85k
Cash flow
€101k▲
2024 · €72k
Solvency
67.1%▼
2024 · 69.5%
Current ratio
3.44▼
2024 · 4.14
Quick ratio
3.44▼
2024 · 4.14
Debt / equity
0.49▲
2024 · 0.44
ROE
22.0%▲
2024 · 17.5%
ROA
14.8%▲
2024 · 12.2%
Interest coverage
60.42▲
2024 · 42.55
Debt
€186k▲
2024 · €130k
Debt ≤ 1 year
€157k▲
2024 · €93k
Debt > 1 year
€29k▼
2024 · €37k
Income taxes
€27k▲
2024 · €16k
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€426k€566k▲
Formation expenses20€0€0=
Fixed assets21/28€41k€26k▼
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€41k€26k▼
Furniture and vehicles24€39k€23k▼
Other tangible fixed assets26€3k€3k=
Current assets29/58€385k€540k▲
Amounts receivable after more than one year29€275k€353k▲
Other amounts receivable291€275k€353k▲
Amounts receivable within one year40/41€68k€134k▲
Trade receivables40€67k€134k▲
Other amounts receivable41€1k€0▼
Cash at bank and in hand54/58€38k€50k▲
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€426k€566k▲
Equity10/15€296k€380k▲
Contributions10/11€5k€5k=
Profit (loss) carried forward14€291k€375k▲
Amounts payable17/49€130k€186k▲
Amounts payable after more than one year17€37k€29k▼
Financial debts170/4€37k€29k▼
Amounts payable within one year42/48€93k€157k▲
Current portion of amounts payable after more than one year42€8k€8k▼
Trade debts44€53k€85k▲
Suppliers440/4€53k€85k▲
Advances received on contracts in progress46€100€100=
Taxes, remuneration and social security45€28k€58k▲
Taxes450/3€28k€58k▲
Remuneration and social security454/9€0€0=
Other amounts payable47/48€3k€6k▲
Income statement
Code20242025
Turnover70€0€0=
Goods, raw materials, services and sundry goods60/61€0€0=
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€17k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€53k-
Other operating charges640/8€6k€8k▲
Gross operating margin9900€144k€129k▼
Operating profit (loss)9901€64k€104k▲
Financial income75/76B€6k€8k▲
Recurring financial income75€6k€8k▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€68k€111k▲
Income taxes67/77€16k€27k▲
Profit (loss) for the period9904€52k€84k▲
Profit (loss) for the period to be appropriated9905€52k€84k▲
Appropriation of the result
Profit (loss) to be appropriated9906€291k€375k▲
Profit (loss) brought forward from the previous period14P€239k€291k▲
The notes to these accounts (9 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
2025
13-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 13 days late
2024
30-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
31-03
Financial
Weakest financial yearnet €17k ▼90.8%
Net result drops to €17k, the lowest in the series; recovery starts the following year.
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
31-03
Financial
Highest result since 2021net €184k ▲380%
Operating result €241k, net result €184k, both a record.
31-03
Financial
Equity above €200kEq €227k ▲425%
2 profitable years in a row build equity to €227k.
2021
08-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Brussel · 1 establishment unit since 2020
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.
Louizalaan 2501050 BrusselGround area
978 m²
Building footprint
890 m²
Volume, LiDAR
35,209 m³
Parcel 21807G0123/00P004, Brussels · tallest building 45.4 m, ±14 floors. Linked by address, not a title deed.
1 establishment unit
David Szafran
since 20202.310.112.804
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0123/00P004 | Brussels | 977 m² | 1 · 890 m² | 45.4 m · 14 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.
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Of 22,051 companies in sector 69101 we hold annual accounts for 9,053. 6,377 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-11-2020
Fiscal year end31-03
Abbreviation FR
DS
Activities, NACEBEL
69101Activities of lawyers
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.