Checked.be
Active
BE 0752.610.231Private limited company
EXKUUS
Industrielaan 4 ·9320 Aalst, Belgium· 6 yrs active
Sector: Advertising agencies
(73110)
Conclusion
EXKUUS has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115k and a net result of €-16k. Equity is growing by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 58% of 6794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €115k |
| Net result | €-16k |
| Better than sector | 58% |
| Active | 6 yrs |
Financial profile
61
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
52
Profitability
0
Solvency
99
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
52
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€6k
estimate, not credit advice
Score history
68
2021
78
2022
86
2023
94
2024
52
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.71 (≥ 1.5)
+10
Quick ratio
Quick ratio 2.71 (≥ 1.0)
+5
Leverage
Debt/equity 0.58 (< 1.0)
+10
Profitability
Negatieve ROE -14%
-10
Interest coverage
Interest coverage -8.4× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-04-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~5.4%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 73, Advertising, market research and public relations activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 63.3% | 54.7% | |
| Net result | €-16k | €14k | |
| Equity | €115k | €61k | |
| Gross operating margin | €-7k | €37k | |
| Staff costs | €0 | €29k |
€-7k
-
21-25
€-16k
-
21-25
€-6k
-
21-25
€181k
+1.5%
21-25
€115k
-12.2%
21-25
€114k
-4.8%
21-25
0
-70.0%
21-25
€0
-100.0%
21-25
€-2
-
21-25
€67k
+39.0%
21-25
€67k
+39.0%
21-25
2.71
-22.5%
21-25
2.71
-22.5%
21-25
63.3%
-13.5%
21-25
0.58
+58.4%
21-25
-14.0%
-
21-25
-8.8%
-
21-25
-8.37
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €-7k | €45k | €33k | €65k | €123k |
| Net profit | €-16k | €11k | €736 | €33k | €83k |
| Cash flow | €-6k | €40k | €33k | €55k | €87k |
| Staff costs | €0 | €16k | €38k | €28k | - |
| Income taxes | €-2 | €5k | €1k | €10k | €34k |
| Dividends | - | - | - | - | - |
| Total assets | €181k | €179k | €187k | €391k | €384k |
| Equity | €115k | €131k | €120k | €119k | €86k |
| Debt | €67k | €48k | €67k | €271k | €298k |
| of which ≤ 1y | €67k | €48k | €67k | €242k | €298k |
| of which > 1y | - | - | - | - | - |
| Working capital | €114k | €120k | €80k | €79k | €78k |
| Employees (FTE) | - | 0.3 | 1.0 | 0.9 | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 2.71 | 3.50 | 2.19 | 1.33 | 1.26 |
| Quick ratio | 2.71 | 3.50 | 2.19 | 1.33 | 1.26 |
| Working capital ratio | 62.8% | 67.0% | 42.7% | 20.1% | 20.2% |
| Solvency | 63.3% | 73.2% | 64.2% | 30.6% | 22.4% |
| Debt / equity | 0.58 | 0.37 | 0.56 | 2.27 | 3.46 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | -8.37 | 21.40 | 37.14 | 117.08 | 67.10 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -8.8% | 5.9% | 0.4% | 8.5% | 21.6% |
| ROE | -14.0% | 8.1% | 0.6% | 27.9% | 96.5% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €181k | €179k | €187k | €391k | €384k |
| Fixed assets | 21/28 | €755 | €11k | €40k | €70k | €8k |
| Intangible fixed assets | 21 | €0 | €8k | €33k | €58k | - |
| Tangible fixed assets | 22/27 | €755 | €3k | €7k | €12k | €8k |
| Financial fixed assets | 28 | - | - | €0 | €59 | €178 |
| Current assets | 29/58 | €181k | €168k | €147k | €320k | €376k |
| Amounts receivable within one year | 40/41 | €86k | €136k | €76k | €241k | €218k |
| Investments | 50/53 | €26k | €26k | €26k | €26k | €26k |
| Cash & bank | 54/58 | €61k | €3k | €45k | €53k | €131k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €181k | €179k | €187k | €391k | €384k |
| Equity | 10/15 | €115k | €131k | €120k | €119k | €86k |
| Contributions / capital | 10/11 | €3k | €3k | €3k | €3k | €3k |
| Reserves | 13 | €127k | €127k | €116k | €116k | €83k |
| Accumulated profits (losses) | 14 | €-15k | €737 | €736 | - | - |
| Amounts payable | 17/49 | €67k | €48k | €67k | €271k | €298k |
| Amounts payable within one year | 42/48 | €67k | €48k | €67k | €242k | €298k |
| Trade debts payable within one year | 44 | €52k | €30k | €11k | €218k | €237k |
| Income statement | ||||||
| Gross operating margin | 9900 | €-7k | €61k | €71k | €94k | €133k |
| Operating result | 9901 | €-18k | €16k | €2k | €43k | €119k |
| Financial income | 75 | €2k | €2k | €2k | €1k | €53 |
| Financial charges | 65 | €872 | €2k | €901 | €552 | €2k |
| Result before taxes | 9903 | €-16k | €15k | €2k | €44k | €117k |
| Income taxes | 67/77 | €-2 | €5k | €1k | €10k | €34k |
| Net result for the period | 9904 | €-16k | €11k | €736 | €33k | €83k |
| Result to be appropriated | 9905 | €-16k | €11k | €736 | €33k | €83k |
Legal Structure
| NACE primary | Advertising agencies(73110) |
| Legal form | Private limited company(610) |
| Incorporation | 14-08-2020 |
| Status | Active |
| Postal code | 9320 |
Establishment units
EXKUUS
since 20202.305.951.009
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41342B1195/00M000 | Flanders | 9,053 m² | 1 · 1,601 m² | 7.8 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-16k ▼251%
Net result drops to €-16k, the lowest in the series.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €100kEq €119k ▲38.6%
2 profitable years in a row build equity to €119k.
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Advertising agencies73110Vocational training85592
Names & trade names
| Legal nameNL | EXKUUS |
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