ESEA
ActiveESEA has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9k and a net result of €34k. Equity is shrinking by ~17.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 10% of 8663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability64▲+61
Solvency28▲+8
Growth58▲+26
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 3.58 against 1.9 in 2024; short-term debt: 20.8% and cash: 8.2% of total assets), but 97.1% 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 70
Relative position
BE, all sectors
reference
Sector 70
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
2.9%
Return on assets
10.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 8663 sector peers (2025).
NBB · sector comparisonPosition among 8663 sector peers
Solvency
better than 10%
← 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 04-07-2026, 27 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
27 d early
2024
64 d early
2023
50 d late
2022
85 d late
2021
165 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€9k
2024 · €-25k
2021: €21k
2022: €26k
2023: €35k
2024: €-25k
2021 → 2025
Total assets
€321k▼ 31.3%
2024 · €467k
2021: €97k
2022: €62k
2023: €141k
2024: €467k
2021 → 2025
Net result
€34k
2024 · €-60k
2021: €18k
2022: €5k
2023: €9k
2024: €-60k
2021 → 2025
Working capital
€173k▼ 20.7%
2024 · €218k
2021: €22k
2022: €23k
2023: €32k
2024: €218k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€21k-€26k▲ 25.3%€35k▲ 32.9%€-25k€9k
Operating result€23k-€8k▼ 67.0%€16k▲ 114%€-50k€49k
Net result€18k-€5k▼ 71.3%€9k▲ 62.7%€-60k€34k
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 returns to profit in 2025: €49k after a loss of €50k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €321k
Fixed assets
€82k▲ 1,029%
Current assets
€240k▼ 47.9%
Equity and liabilities €321k
Equity
€9k
Debt
€312k
Debt finances 97.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€57k▲
2024 · €-50k
Cash flow
€43k▲
2024 · €-59k
Solvency
2.9%▲
2024 · -5.3%
Current ratio
3.58▲
2024 · 1.90
Quick ratio
3.58▲
2024 · 1.90
Debt / equity
33.95▲
2024 · -19.87
ROE
369.5%
ROA
10.6%▲
2024 · -12.8%
Interest coverage
3.90▲
2024 · -4.95
Debt
€312k▼
2024 · €492k
Debt ≤ 1 year
€67k▼
2024 · €242k
Debt > 1 year
€245k▼
2024 · €250k
Staff costs
€100k▲
2024 · €43k
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€467k€321k▼
Fixed assets21/28€7k€82k▲
Intangible fixed assets21-€73k
Tangible fixed assets22/27€3k€4k▲
Furniture and vehicles24€43€2k▲
Other tangible fixed assets26€2k€2k▼
Financial fixed assets28€5k€5k=
Current assets29/58€460k€240k▼
Amounts receivable within one year40/41€245k€211k▼
Trade receivables40€238k€210k▼
Other amounts receivable41€6k€1k▼
Cash at bank and in hand54/58€216k€26k▼
Deferred charges and accrued income490/1-€3k
Equity and liabilities
Total equity and liabilities10/49€467k€321k▼
Equity10/15€-25k€9k▲
Contributions10/11€3k€3k=
Outside capital11€3k€3k=
Other1109/19€3k€3k=
Profit (loss) carried forward14€-27k€7k▲
Amounts payable17/49€492k€312k▼
Amounts payable after more than one year17€250k€245k▼
Financial debts170/4€250k€245k▼
Amounts payable within one year42/48€242k€67k▼
Financial debts43-€873
Credit institutions430/8-€873
Trade debts44€77k€23k▼
Suppliers440/4€77k€23k▼
Advances received on contracts in progress46€143k-
Taxes, remuneration and social security45€6k€5k▼
Taxes450/3-€389
Remuneration and social security454/9€6k€5k▼
Other amounts payable47/48€16k€38k▲
Income statement
Code20242025
Remuneration, social security and pensions62€43k€100k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€393€9k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€-5k€158k▲
Operating profit (loss)9901€-50k€49k▲
Financial income75/76B€782€111▼
Recurring financial income75€782€111▼
Financial charges65/66B€10k€15k▲
Recurring financial charges65€10k€15k▲
Profit (loss) for the period before taxes9903€-60k€34k▲
Profit (loss) for the period9904€-60k€34k▲
Profit (loss) for the period to be appropriated9905€-60k€34k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-27k€7k▲
Profit (loss) brought forward from the previous period14P€32k€-27k▼
The notes to these accounts (10 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
04-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €34k
Net result €34k after one loss-making year.
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-60k ▼792%
Net result drops to €-60k, the lowest in the series; recovery starts the following year.
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 85 days late
12-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 165 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Sint-Martens-Latem · 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.
Nevelse Warande 89830 Sint-Martens-LatemGround area
3,240 m²
Building footprint
343 m²
Volume, LiDAR
2,432 m³
Parcel 44064B0005/00B002, Flanders · tallest building 18.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MIGRABEL
since 20202.308.942.072
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0005/00B002 | Flanders | 3,240 m² | 1 · 343 m² | 18.8 m · 2 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
Flemish government
2022 to 2025 · 3 entries · 308,753 EUR awarded · 21,142 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 308,361 EUR | 20,750 EUR |
| 2022 | 1 | 392 EUR | 392 EUR |
Schemes
Ontwikkelingsproject
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,569 companies in sector 70200 we hold annual accounts for 52,577. 22,026 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-10-2020
Fiscal year end31-12
Activities, NACEBEL
69202Legal and accounting activities
69209Other tax advisory services
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.migrabel.com
Phone:0486432310