Effitrax
ActiveThe file of Effitrax contains 3 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is ≥ 25% (high). The 2024 annual accounts show negative equity (€-259k) and a net result of €-273k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 93 sector peers (fiscal year 2024).
Checked score
Score 2024
10
/ 100
Critical
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability4▼-6
Solvency12▼-14
Growth32=
Track record60
Bankruptcy probability, 12 months
≥ 25%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.54 against 0.72 in 2023; short-term debt: 42.1% and cash: 0.2% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-13.4%
Return on assets
-14.1%
Age of the figures
21 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 29
Relative position
BE, all sectors
reference
Sector 29
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
182021222324
2018 to 2024 · latest year €-259k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-07-2025, 21 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
21 d early
2023
26 d early
2022
38 d early
2021
5 d early
2020
16 d early
2019
82 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€-259k
2023 · €14k
2018: €15k
2020: €266k
2021: €31k
2022: €213k
2023: €14k
2018 → 2024
Total assets
€1.94M▲ 4.8%
2023 · €1.85M
2018: €201k
2020: €776k
2021: €1.03M
2022: €1.41M
2023: €1.85M
2018 → 2024
Net result
€-273k▼ 37.9%
2023 · €-198k
2018: €9k
2020: €-303k
2021: €-685k
2022: €-511k
2023: €-198k
2018 → 2024
Working capital
€-377k▼ 84.5%
2023 · €-204k
2018: €-49k
2020: €-126k
2021: €-342k
2022: €-457k
2023: €-204k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€266k-€31k▼ 88.2%€213k▲ 576%€14k▼ 93.2%€-259k
Operating result€-289k-€-677k▼ 134%€-476k▲ 29.6%€-136k▲ 71.5%€-196k▼ 44.6%
Net result€-303k-€-685k▼ 126%€-511k▲ 25.4%€-198k▲ 61.2%€-273k▼ 37.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €196k in 2024 against €136k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.94M
Fixed assets
€1.50M ▲ 13.2%
Current assets
€439k ▼ 16.4%
Key figures and ratios
EBITDA
€26k▼
2023 · €41k
Cash flow
€-51k▼
2023 · €-21k
Solvency
-13.4%▼
2023 · 0.8%
Current ratio
0.54▼
2023 · 0.72
Quick ratio
0.50▼
2023 · 0.63
Debt to equity
-8.49
ROA
-14.1%▼
2023 · -10.7%
Interest coverage
0.34▼
2023 · 0.61
Debt
€2.20M▲
2023 · €1.84M
Debt ≤ 1 year
€815k▲
2023 · €729k
Debt > 1 year
€1.38M▲
2023 · €1.11M
Income taxes
€843▼
2023 · €1k
Staff costs
€356k▼
2023 · €428k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 53 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.85M€1.94M▲
Fixed assets21/28€1.33M€1.50M▲
Intangible fixed assets21€1.25M€1.41M▲
Tangible fixed assets22/27€65k€79k▲
Plant, machinery and equipment23€33k€24k▼
Furniture and vehicles24€18k€43k▲
Other tangible fixed assets26€14k€12k▼
Financial fixed assets28€13k€13k▲
Current assets29/58€525k€439k▼
Stocks and contracts in progress3€66k€33k▼
Stocks30/36€66k€33k▼
Amounts receivable within one year40/41€430k€398k▼
Trade receivables40€308k€307k▼
Other amounts receivable41€122k€90k▼
Cash at bank and in hand54/58€23k€4k▼
Deferred charges and accrued income490/1€7k€4k▼
Equity and liabilities
Total equity and liabilities10/49€1.85M€1.94M▲
Equity10/15€14k€-259k▼
Contributions10/11€1.31M€1.31M=
Reserves13€94k€94k=
Non-distributable reserves130/1€94k€94k=
Other1319€94k€94k=
Profit (loss) carried forward14€-1.39M€-1.67M▼
Amounts payable17/49€1.84M€2.20M▲
Amounts payable after more than one year17€1.11M€1.38M▲
Financial debts170/4€1.11M€1.29M▲
Other amounts payable178/9€0€94k▲
Amounts payable within one year42/48€729k€815k▲
Current portion of amounts payable after more than one year42-€5k
Financial debts43€0€12k▲
Credit institutions430/8€0€12k▲
Trade debts44€483k€519k▲
Suppliers440/4€483k€519k▲
Taxes, remuneration and social security45€243k€276k▲
Taxes450/3€96k€75k▼
Remuneration and social security454/9€147k€201k▲
Other amounts payable47/48€3k€3k▲
Accrued charges and deferred income492/3-€1k
Income statement
Code20232024
Remuneration, social security and pensions62€428k€356k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€177k€222k▲
Other operating charges640/8€10k€4k▼
Gross operating margin9900€479k€386k▼
Operating profit (loss)9901€-136k€-196k▼
Financial income75/76B€6k€121▼
Recurring financial income75€6k€121▼
Financial charges65/66B€68k€76k▲
Recurring financial charges65€68k€76k▲
Profit (loss) for the period before taxes9903€-197k€-273k▼
Income taxes67/77€1k€843▼
Profit (loss) for the period9904€-198k€-273k▼
Profit (loss) for the period to be appropriated9905€-198k€-273k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.39M€-1.67M▼
Profit (loss) brought forward from the previous period14P€-1.20M€-1.39M▼
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
23-09
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Gent · event 15-09-2026
04-05
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Gent · event 28-04-2026
16-02
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement (SME) · event 10-02-2026
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200kEq €213k ▲576%
Equity rises from €31k to €213k.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-685k
Net result drops to €-685k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200kEq €266k ▲1,633%
Equity rises from €15k to €266k.
21-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 82 days late
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
11 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, Kortrijk · 3 establishment units since 2017
Ground area
1,544 m²
Building footprint
256 m²
Volume, LiDAR
1,437 m³
2 parcels, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
3 establishment units
Effitrax
since 20172.318.948.217
Effitrax
since 20212.321.283.739
Effitrax
since 20212.318.980.879
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34353B0186/00A002 | Flanders | 1,092 m² | - | - |
| 36494D0224/00H002 | Flanders | 452 m² | 1 · 256 m² | 7.8 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 4 entries · 4,133 EUR awarded · 4,133 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | 2,978 EUR | 2,978 EUR |
| 2023 | 2 | 1,155 EUR | 1,155 EUR |
Schemes
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
Bekaert-Muylle
BE 0412.862.088
Jabbeke · Eq €12k
LUMINATE PRODUCTIONS
BE 0431.477.477
Antwerpen · Eq €17k
NAHIZA
BE 1010.518.680
Halle · Eq €21k
Engineering service
BE 0403.118.835
Etterbeek · Eq €23k
Co-Laden
BE 0775.725.232
Hasselt · Eq €9k
Of 94 companies in sector 29310 we hold annual accounts for 71. 18 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-08-2017
Fiscal year end31-12
Activities, NACEBEL 2025
29310Manufacture of motor vehicles, trailers and semi-trailers
62100Computer programming
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryWebsite:www.effitrax.com