EXPANDABLE
ActiveSummary
EXPANDABLE has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €114k and a net result of €-16k. Equity is growing by ~68.2% per year across the filed fiscal years. Its solvency ranks better than 84% of 19357 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability5▼-95
Solvency100▲+8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.6 against 1.88 in 2023; short-term debt: 21% and cash: 2.5% of total assets), and 21.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
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
78.4%
Return on assets
-11.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-07-2025, 9 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
9 d early
2023
13 d early
2022
5 d early
2021
3 d early
2020
61 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€114k▼ 12.4%
2023 · €130k
2020: €15k
2021: €16k
2022: €45k
2023: €130k
2020 → 2024
Total assets
€146k▼ 24.8%
2023 · €194k
2020: €105k
2021: €39k
2022: €183k
2023: €194k
2020 → 2024
Net result
€-16k
2023 · €85k
2020: €10k
2021: €-2k
2022: €29k
2023: €85k
2020 → 2024
Working capital
€49k▼ 11.0%
2023 · €55k
2020: €-76k
2021: €6k
2022: €-33k
2023: €55k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€15k-€16k▲ 9.1%€45k▲ 182%€130k▲ 187%€114k▼ 12.4%
Operating result€18k-€898▼ 94.9%€39k▲ 4,273%€113k▲ 187%€-13k
Net result€10k-€-2k€29k€85k▲ 190%€-16k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €13k after €113k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €146k
Fixed assets
€66k ▼ 13.2%
Current assets
€80k ▼ 32.2%
Equity and liabilities €146k
Equity
€114k ▼ 12.4%
Debt
€31k ▼ 50.3%
Debt's share of the balance-sheet total falls from 32.6% to 21.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-965▼
2023 · €124k
Cash flow
€-4k▼
2023 · €96k
Current ratio
2.60▲
2023 · 1.88
Debt to equity
0.27▼
2023 · 0.48
ROE
-14.1%▼
2023 · 65.1%
ROA
-11.1%▼
2023 · 43.9%
Interest coverage
-0.31▼
2023 · 95.19
Debt ≤ 1 year
€31k▼
2023 · €62k
Income taxes
€176▼
2023 · €26k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 39 lines
Balance sheet
Code20232024
Assets
Total assets20/58€194k€146k▼
Fixed assets21/28€76k€66k▼
Intangible fixed assets21€64k€56k▼
Tangible fixed assets22/27€12k€10k▼
Plant, machinery and equipment23€0-
Furniture and vehicles24€12k€10k▼
Current assets29/58€117k€80k▼
Amounts receivable within one year40/41€41k€71k▲
Trade receivables40€6k€69k▲
Other amounts receivable41€35k€2k▼
Cash at bank and in hand54/58€71k€4k▼
Deferred charges and accrued income490/1€5k€5k▼
Equity and liabilities
Total equity and liabilities10/49€194k€146k▼
Equity10/15€130k€114k▼
Contributions10/11€5k€5k=
Profit (loss) carried forward14€125k€109k▼
Amounts payable17/49€63k€31k▼
Amounts payable within one year42/48€62k€31k▼
Current portion of amounts payable after more than one year42€0-
Trade debts44€4k€2k▼
Suppliers440/4€4k€2k▼
Taxes, remuneration and social security45€7k€3k▼
Taxes450/3€7k€3k▼
Other amounts payable47/48€51k€26k▼
Accrued charges and deferred income492/3€750€750=
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€12k▲
Other operating charges640/8€1k€650▼
Gross operating margin9900€125k€-315▼
Operating profit (loss)9901€113k€-13k▼
Financial income75/76B€11€0▼
Recurring financial income75€11€0▼
Financial charges65/66B€1k€3k▲
Recurring financial charges65€1k€3k▲
Profit (loss) for the period before taxes9903€111k€-16k▼
Income taxes67/77€26k€176▼
Profit (loss) for the period9904€85k€-16k▼
Profit (loss) for the period to be appropriated9905€85k€-16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€125k€109k▼
Profit (loss) brought forward from the previous period14P€40k€125k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-16k ▼119%
Net result drops to €-16k, the lowest in the series.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2020net €85k ▲190%
Operating result €113k, net result €85k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.88
Current ratio from 0.76 to 1.88; short-term debt falls from €137k to €62k.
31-12
Financial
Equity above €100kEq €130k ▲187%
2 profitable years in a row build equity to €130k.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €29k
Net result €29k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 10current ratio 1.29
Current ratio from 0.12 to 1.29; short-term debt falls from €87k to €21k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, La Hulpe · 1 establishment unit since 2019
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.
Avenue du Fond du Diable 61310 La Hulpe1 establishment unit
EXPANDABLE
since 20192.293.728.514
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Of 1,530 companies in sector 68322 we hold annual accounts for 740. 559 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68322Real estate appraisal on a fee or contract basis
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filings
Scores and ratios are computed by Checked and are not a credit decision.