EXCELERATE
ActiveEXCELERATE has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €635k and a net result of €-20k. Equity is shrinking by ~8% per year across the filed fiscal years. Its solvency ranks better than 95% of 997 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency100=
Growth32=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 15.65 against 22.24 in 2023), and 3.3% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 78
Relative position
BE, all sectors
reference
Sector 78
lower
← fewer bankruptcies
more bankruptcies →
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
96.7%
Return on assets
-3.1%
Age of the figures
20 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
21222324
2021 to 2024 · latest year -€20k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-08-2025, 5 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
not confirmed
2024
5 d late
2023
65 d early
2022
50 d early
2021
on the day
2020
9 d early
2019
1 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€635k▼ 5.3%
2023 · €670k
2021: €889k
2022: €686k
2023: €670k
2021 → 2024
Total assets
€657k▼ 5.6%
2023 · €696k
2021: €922k
2022: €756k
2023: €696k
2021 → 2024
Net result
€-20k▼ 27.4%
2023 · €-16k
2021: €153k
2022: €28k
2023: €-16k
2021 → 2024
Working capital
€317k▼ 6.9%
2023 · €341k
2021: €575k
2022: €392k
2023: €341k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€889k-€686k▼ 22.8%€670k▼ 2.3%€635k▼ 5.3%
Operating result€-2k-€30k€-17k€-21k▼ 25.0%
Net result€153k-€28k▼ 81.9%€-16k€-20k▼ 27.4%
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 €21k in 2024 against €17k in 2023; the loss grows and 2024 is the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €657k
Fixed assets
€318k▼ 6.3%
Current assets
€339k▼ 5.0%
Equity and liabilities €657k
Equity
€635k▼ 5.3%
Debt
€22k▼ 14.2%
The debt ratio falls from 3.6% to 3.3%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€6k▼
2023 · €9k
Cash flow
€7k▼
2023 · €9k
Solvency
96.7%▲
2023 · 96.4%
Current ratio
15.65▼
2023 · 22.24
Quick ratio
15.65▼
2023 · 22.24
Debt / equity
0.03▼
2023 · 0.04
ROE
-3.2%▼
2023 · -2.4%
ROA
-3.1%▼
2023 · -2.3%
Interest coverage
20.21▼
2023 · 41.05
Debt
€22k▼
2023 · €25k
Debt ≤ 1 year
€22k▲
2023 · €16k
Income taxes
€473▼
2023 · €531
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 · 2024 against 2023
Balance sheet
Code20232024
Total assets
20/58€696k€657k▼
Fixed assets
21/28€339k€318k▼
Tangible fixed assets
22/27€339k€316k▼
Financial fixed assets
28-€2k
Current assets
29/58€357k€339k▼
Amounts receivable within one year
40/41€23k€43k▲
Investments
50/53€152k€153k▲
Cash & bank
54/58€162k€137k▼
Total equity & liabilities
10/49€696k€657k▼
Equity
10/15€670k€635k▼
Contributions / capital
10/11€12k€12k=
Reserves
13€674k€659k▼
Accumulated profits (losses)
14€-16k€-37k▼
Amounts payable
17/49€25k€22k▼
Amounts payable within one year
42/48€16k€22k▲
Trade debts payable within one year
44€6k€13k▲
Income statement
Code20232024
Gross operating margin
9900€10k€8k▼
Operating result
9901€-17k€-21k▼
Financial income
75€1k€1k▼
Financial charges
65€210€316▲
Result before taxes
9903€-16k€-20k▼
Income taxes
67/77€531€473▼
Net result for the period
9904€-16k€-20k▼
Result to be appropriated
9905€-16k€-20k▼
Timeline · acts, filings and financial milestones
2025
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series.
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 22.24
Current ratio from 6.62 to 22.24; short-term debt falls from €70k to €16k.
11-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
07-03
State Gazette act
Director changes
Joris Stalpaert
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
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PEOPLE PERFORMANCE
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Of 2,346 companies in sector 78100 we hold annual accounts for 1,313. 796 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-01-2001
Fiscal year end31-12
Activities, NACEBEL
74501
78100Employment placement agencies
Sources
Crossroads Bank for EnterprisesBelgian Official Gazette · 1 actNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 24-08-2026. Scores and ratios are computed by Checked and are not a credit decision.