EX CURSUS
ActiveEX CURSUS has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €376k and a net result of €-36k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 94% of 6974 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability57▲+57
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 8.93 against 8.0 in 2024; short-term debt: 4.6% and cash: 19% of total assets), and 4.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-36k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
29 d late
2023
26 d late
2022
144 d late
2021
31 d late
2020
31 d late
2019
52 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€0
2023 · €0
2021: €0
2022: €0
2023: €0
2021 → 2024
Total assets
€394k▼ 8.7%
2024 · €432k
2018: €426k
2019: €476k
2020: €672k
2021: €841k
2022: €702k
2023: €551k
2024: €432k
2018 → 2025
Net result
€-36k▲ 73.3%
2024 · €-134k
2018: €46k
2019: €67k
2020: €146k
2021: €131k
2022: €-26k
2023: €-71k
2024: €-134k
2018 → 2025
Working capital
€143k▲ 2.5%
2024 · €139k
2018: €306k
2019: €358k
2020: €491k
2021: €615k
2022: €268k
2023: €229k
2024: €139k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€0-€0€0€0
Equity€642k-€616k▼ 4.1%€545k▼ 11.4%€412k▼ 24.5%€376k▼ 8.7%
Operating result€292k-€-23k€-76k▼ 225%€-135k▼ 77.1%€-33k▲ 75.4%
Net result€131k-€-26k€-71k▼ 171%€-134k▼ 89.4%€-36k▲ 73.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €33k in 2025 against €135k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €394k
Fixed assets
€233k▼ 14.4%
Current assets
€161k▲ 1.0%
Equity and liabilities €394k
Equity
€376k▼ 8.7%
Debt
€18k▼ 9.5%
The debt ratio stays at 4.6%.
Key figures and ratios
EBITDA
€8k▲
2024 · €-87k
Cash flow
€6k▲
2024 · €-85k
Solvency
95.4%=
2024 · 95.4%
Current ratio
8.93▲
2024 · 8.00
Quick ratio
8.18▲
2024 · 7.94
Debt / equity
0.05▼
2024 · 0.05
ROE
-9.5%▲
2024 · -32.4%
ROA
-9.0%▲
2024 · -30.9%
Interest coverage
17.32▲
2024 · -134.36
Debt
€18k▼
2024 · €20k
Debt ≤ 1 year
€18k▼
2024 · €20k
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€432k€394k▼
Formation expenses20€0€0=
Fixed assets21/28€272k€233k▼
Tangible fixed assets22/27€272k€233k▼
Plant, machinery and equipment23€255k€221k▼
Furniture and vehicles24€18k€12k▼
Current assets29/58€159k€161k▲
Stocks and contracts in progress3€1k€14k▲
Stocks30/36€1k€14k▲
Amounts receivable within one year40/41€71k€72k▲
Trade receivables40€0€15▲
Other amounts receivable41€71k€72k▲
Cash at bank and in hand54/58€86k€75k▼
Deferred charges and accrued income490/1€954€941▼
Equity and liabilities
Total equity and liabilities10/49€432k€394k▼
Equity10/15€412k€376k▼
Contributions10/11€38k€38k=
Reserves13€516k€516k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€516k€516k=
Profit (loss) carried forward14€-142k€-178k▼
Amounts payable17/49€20k€18k▼
Amounts payable within one year42/48€20k€18k▼
Trade debts44€1k€3k▲
Suppliers440/4€1k€3k▲
Taxes, remuneration and social security45€155€144▼
Taxes450/3€155€144▼
Other amounts payable47/48€19k€15k▼
Income statement
Code20242025
Turnover70€0-
Goods, raw materials, services and sundry goods60/61€0€0=
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€48k€42k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0
Other operating charges640/8€407€479▲
Non-recurring operating charges66A€68k-
Gross operating margin9900€-18k€9k▲
Operating profit (loss)9901€-135k€-33k▲
Financial income75/76B€2k-
Recurring financial income75€2k-
Financial charges65/66B€644€3k▲
Recurring financial charges65€644€487▼
Non-recurring financial charges66B-€2k
Profit (loss) for the period before taxes9903€-134k€-36k▲
Income taxes67/77€0-
Profit (loss) for the period9904€-134k€-36k▲
Profit (loss) for the period to be appropriated9905€-134k€-36k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-142k€-178k▼
Profit (loss) brought forward from the previous period14P€-9k€-142k▼
The notes to these accounts (7 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €-134k
Net result drops to €-134k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Liquidity times 10current ratio 42.30
Current ratio from 4.09 to 42.30; short-term debt falls from €87k to €6k.
22-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 144 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €146k ▲119%
Net result €146k, the highest in the series.
31-12
Financial
Equity above €500kEq €511k ▲39.9%
3 profitable years in a row build equity to €511k.
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 52 days late
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Ukkel · 1 establishment unit since 2010
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.
Hamoirlaan 25B1180 UkkelGround area
2,307 m²
Building footprint
403 m²
Volume, LiDAR
2,593 m³
2 parcels, Brussels · tallest building 12.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
zingle
since 20102.190.484.880
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0294/00S013 | Brussels | 2,097 m² | 1 · 297 m² | 11.6 m · 2 fl. |
| 21612D0209/00V000 | Brussels | 211 m² | 1 · 107 m² | 12.3 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.
Recognitions · licences · registrations
Legal Entity Identifier
5493002CRFQQQ5UMJG06
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Of 13,425 companies in sector 73300 we hold annual accounts for 6,900. 4,567 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-05-2010
Fiscal year end31-12
Activities, NACEBEL
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
62010Computer programming, consultancy and related activities
62020IT consultancy
62030Computer programming, consultancy and related activities
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.