Equity
Equity fell by 99% in 2 years.
Equity fell by 99% in 2 years.
Every financial year from 2022 to 2025 closed with a loss. 2022 was the heaviest.
Of this, €124,516 falls due within a year.
Short-term debts rose from €53,429 to €124,516.
Lower net result than 95% of companies in computer programming and consultancy. Sector median €28,568 · 21,212 companies.
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 9% of them on solvency, 51% on liquidity, 5% on profitability and 4% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 646 companies had the same profile as Exatom has now. Each dot stands for 2 companies, two years later.
Another 0.9% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Exatom itself is lower: 0.5% within 12 months. It rests on far more data about Exatom than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 646 companies, not a prediction for Exatom. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 1.57 (3.6 in 2024), above the usual 1.5. Short-term debt is 62.2% and cash 59.3% of total assets. However, 99.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 57 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Exatom Hasselt | €200,135 | -€56,492 | 0.9% | - |
| MGM DIGITAL Charleroi | €198,308 | -€825 | 20.2% | - |
| Curaevia Ghent | €206,530 | -€5,811 | 2.4% | - |
| Arkadiko Wijnegem | €221,657 | -€67,778 | 24.5% | - |
| WASP ZONE Overijse | €204,261 | -€12,959 | 99.8% | - |
| ARTISCIEN SOLUTIONS Auderghem | €214,928 | -€46,784 | 9.3% | - |
| SMARTEFACT Uccle | €198,404 | -€68,559 | 52.5% | 0 |
These companies have the same main activity as Exatom: computer programming (NACE 62100). They are comparable in size and age: total assets between €198,000 and €222,000, founded between 2020 and 2021.
Exatom files the micro format. That format states no turnover. The gross margin rose from -€217,216 in 2022 to -€56,492 in 2025.
In July 2023, the Official Gazette published the appointment of BLUCCA B.V. as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 10% of 21,206 companies in 2025.
Higher than 34% of 20,569 companies in 2025.
Lower than 95% of 20,744 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
200,135 | 207,229 | 355,951 | 106,885 | |
21/28 |
5,149 | 15,123 | 24,710 | 32,203 | |
21 |
3,853 | 13,303 | 22,753 | 32,203 | |
22/27 |
300 | 1,129 | 1,958 | - | |
24 |
300 | 1,129 | 1,958 | - | |
28 |
996 | 691 | - | - | |
29/58 |
194,985 | 192,107 | 331,240 | 74,682 | |
40/41 |
74,463 | 19,299 | 37,378 | 37,195 | |
40 |
61,745 | 14,104 | 34,125 | 33,600 | |
41 |
12,718 | 5,195 | 3,253 | 3,595 | |
54/58 |
118,619 | 169,903 | 282,120 | 36,634 | |
490/1 |
1,904 | 2,905 | 11,743 | 853 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
200,135 | 207,229 | 355,951 | 106,885 | |
10/15 |
1,728 | 132,500 | 313,442 | 11,184 | |
10/11 |
640,072 | 640,072 | 640,072 | 245,000 | |
14 |
-638,344 | -507,571 | -326,630 | -233,816 | |
17/49 |
198,407 | 74,729 | 42,509 | 95,701 | |
17 |
67,683 | - | - | - | |
170/4 |
67,683 | - | - | - | |
42/48 |
124,516 | 53,429 | 41,997 | 95,597 | |
43 |
3,374 | 1,996 | - | - | |
439 |
3,374 | 1,996 | - | - | |
44 |
105,218 | 37,108 | 32,126 | 95,597 | |
440/4 |
105,218 | 37,108 | 32,126 | 95,597 | |
45 |
15,923 | 14,325 | 9,871 | - | |
450/3 |
3,878 | 3,407 | 2,152 | - | |
454/9 |
12,045 | 10,918 | 7,718 | - | |
492/3 |
6,208 | 21,300 | 512 | 104 | |
| Income statement | |||||
9900 |
-56,492 | -112,610 | -56,356 | -217,216 | |
62 |
63,299 | 58,021 | 25,864 | - | |
630 |
10,279 | 10,279 | 9,978 | 15,047 | |
640/8 |
602 | 451 | 526 | 1,332 | |
9901 |
-130,672 | -181,361 | -92,724 | -233,595 | |
75/76B |
387 | 625 | 33 | 23 | |
75 |
387 | 625 | 33 | 23 | |
65/66B |
488 | 205 | 124 | 243 | |
65 |
488 | 205 | 124 | 243 | |
9903 |
-130,772 | -180,941 | -92,815 | -233,816 | |
9904 |
-130,772 | -180,941 | -92,815 | -233,816 | |
9905 |
-130,772 | -180,941 | -92,815 | -233,816 | |
| Appropriation of the result | |||||
9906 |
-638,344 | -507,571 | -326,630 | -233,816 | |
14P |
-507,571 | -326,630 | -233,816 | - | |
| Social balance sheet | |||||
9087 |
1 | 1 | 0.5 | - | |
Hours worked1013 |
1,706 | 1,744 | 840 | - | |
| Document | |||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 04-06-2026.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| -120,393 | -171,083 | -82,746 | -218,548 | ||
| -120,494 | -170,663 | -82,836 | -218,768 | ||
| 305 | 691 | 2,486 | 47,250 | ||
| -51,284 | -112,217 | 245,485 | - | ||
| 70,470 | 138,678 | 289,243 | -20,915 | ||
| 0.9% | 63.9% | 88.1% | 10.5% | ||
| 1.57 | 3.60 | 7.89 | 0.78 | ||
| - | 0.56 | 0.14 | 8.56 | ||
| - | -136.6% | -29.6% | - | ||
| -65.3% | -87.3% | -26.1% | -218.8% | ||
| -246.93 | -834.55 | -668.71 | -900.00 |
A ratio outside any meaningful range has been withheld (balance sheet total €200,135, equity €1,728).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| part-time | 0 | 0 | - |
| in full-time equivalents | 1 | 1 | 1 |
| 1 | 1 | 0.5 | |
| On a permanent contract | 1 | 1 | 1 |
| Joined | - | - | 1 |
| Left | - | - | 0 |
Source: social balance sheet in the 2023 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,486 | - |
| Intangible fixed assets | - | - | - | €47,250 |
| Financial fixed assets | €305 | €691 | - | - |
| €10,279 | €10,279 | €9,978 | €15,047 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €130,672, smaller than the loss of €181,361 in 2024.
Debt's share of the balance-sheet total rises from 36.1% to 99.1%. Equity is lower and debt is higher.
Source: lists of holdings in the owners' accounts
Exatom has no parent and no holdings in its annual accounts.
| SiPM
registered office since 06-03-2008 · founded in 2008 · group WALUFIN |
total assets €9.9m (2025) 0896.235.854 |
| SiPM Group
registered office since 27-03-2017 · founded in 2017 · group WALUFIN |
total assets €9.1m (2025) 0673.544.541 |
| HARTE-HANKS BELGIUM
registered office since 17-08-1994 · founded in 1994 |
13 FTE (2025) 0453.195.480 |
| ENSEK Benelux
registered office since 01-10-2016 · founded in 2014 |
11 FTE (2022) 0563.879.212 |
| Beheersmaatschappij Les Fawes
registered office since 15-05-1992 · founded in 1992 |
total assets €2.3m (2025) 0447.409.728 |
| ADVOCATENKANTOOR RELIANCE
establishment since 01-10-2023 · founded in 2009 |
1.2 FTE (2025) 0821.045.612 |
| Cadac Group
registered office since 09-02-1995 · founded in 1995 |
5 FTE (2025) 0454.356.512 |
| ALEACE CONSULTING
registered office since 16-11-2016 · founded in 2016 |
total assets €1.3m (2025) 0666.409.301 |
| Rai Stone
registered office since 15-02-2022 · founded in 2022 |
total assets €1.2m (2025) 0781.976.485 |
| ACRE!
registered office since 26-09-2012 · founded in 2012 |
total assets €1.1m (2025) 0849.017.442 |
| GROWZER via FILACO, no longer at GROWZER · Director · deed of 21-03-2019 founded in 2015 · negative equity (2025) |
2.8 FTE (2025) |
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Exatom was incorporated on 29 April 2021 as a private limited company by Blucca, FILACO and two natural persons, with a starting capital of €155,000.12 In 2022 the capital was increased by €90,000.3 The registered office was moved to Hasselt in 2025.4 The board currently has 5 members.5 Total assets rose from €106,885 in 2022 to €200,135 in 2025 and headcount from 0.5 full-time equivalents in 2023 to 1 in 2025.6
| Establishment | Since | Unit number |
|---|---|---|
| Koning Boudewijnlaan 20A registered office 3500 Hasselt | ||
| Koning Boudewijnlaan 20 3500 Hasselt | 29-04-2021 | 2.316.708.705 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71323C0286/00F002 | 3,766 m² | 1 · 984 m² | 21.6 m · 2 |
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