Expeels
ActiveExpeels has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143k and a net result of €-27k. Equity is growing by ~45.4% per year across the filed fiscal years. Its solvency ranks better than 56% of 675 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency98▼-2
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity ample (current ratio 2.14 against 7.74 in 2024), and 40.2% 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○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 58
Relative position
BE, all sectors
reference
Sector 58
lower
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
on the day
2023
29 d late
2022
31 d late
2021
30 d late
2020
3 d early
2019
101 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€143k▼ 15.9%
2024 · €169k
2018: €-117k
2019: €-94k
2020: €-88k
2021: €-25k
2022: €-10k
2023: €87k
2024: €169k
2018 → 2025
Total assets
€238k▲ 3.1%
2024 · €231k
2018: €98k
2019: €146k
2020: €143k
2021: €150k
2022: €157k
2023: €195k
2024: €231k
2018 → 2025
Net result
€-27k
2024 · €83k
2018: €-5k
2019: €23k
2020: €6k
2021: €63k
2022: €15k
2023: €23k
2024: €83k
2018 → 2025
Working capital
€72k▼ 44.1%
2024 · €130k
2018: €8k
2019: €-14k
2020: €-10k
2021: €30k
2022: €42k
2023: €36k
2024: €130k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-25k-€-10k▲ 60.8%€87k€169k▲ 95.1%€143k▼ 15.9%
Operating result€65k-€16k▼ 75.3%€27k▲ 66.2%€87k▲ 228%€-26k
Net result€63k-€15k▼ 75.5%€23k▲ 46.6%€83k▲ 266%€-27k
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 2025: a loss of €26k after €87k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €238k
Fixed assets
€102k▲ 24.3%
Current assets
€136k▼ 8.7%
Equity and liabilities €238k
Equity
€143k▼ 15.9%
Debt
€96k▲ 55.0%
The debt ratio rises from 26.7% to 40.2%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-2k▼
2024 · €110k
Cash flow
€-3k▼
2024 · €105k
Solvency
59.8%▼
2024 · 73.3%
Current ratio
2.14▼
2024 · 7.74
Quick ratio
2.06▼
2024 · 7.48
Debt / equity
0.67▲
2024 · 0.36
ROE
-18.9%▼
2024 · 48.7%
ROA
-11.3%▼
2024 · 35.7%
Interest coverage
-1.71▼
2024 · 59.63
Debt
€96k▲
2024 · €62k
Debt ≤ 1 year
€64k▲
2024 · €19k
Debt > 1 year
€32k▼
2024 · €43k
Income taxes
€482▼
2024 · €3k
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€231k€238k▲
Fixed assets21/28€82k€102k▲
Tangible fixed assets22/27€82k€102k▲
Land and buildings22€47k€43k▼
Plant, machinery and equipment23€5k€6k▲
Furniture and vehicles24€30k€53k▲
Current assets29/58€149k€136k▼
Stocks and contracts in progress3€5k€5k=
Stocks30/36€5k€5k=
Amounts receivable within one year40/41€43k€38k▼
Trade receivables40€22k€10k▼
Other amounts receivable41€22k€29k▲
Current investments50/53-€16k
Cash at bank and in hand54/58€100k€73k▼
Deferred charges and accrued income490/1-€3k
Equity and liabilities
Total equity and liabilities10/49€231k€238k▲
Equity10/15€169k€143k▼
Contributions10/11€280k€280k=
Profit (loss) carried forward14€-111k€-137k▼
Amounts payable17/49€62k€96k▲
Amounts payable after more than one year17€43k€32k▼
Financial debts170/4€43k€32k▼
Amounts payable within one year42/48€19k€64k▲
Current portion of amounts payable after more than one year42€10k€10k▲
Trade debts44€1k€854▼
Suppliers440/4€1k€854▼
Taxes, remuneration and social security45€8k€2k▼
Taxes450/3€8k€2k▼
Other amounts payable47/48€0€50k▲
Income statement
Code20242025
Non-recurring operating income76A€0€2k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€24k▲
Other operating charges640/8€2k€16k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€113k€14k▼
Operating profit (loss)9901€87k€-26k▼
Financial income75/76B€4€1k▲
Recurring financial income75€4€1k▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€86k€-26k▼
Income taxes67/77€3k€482▼
Profit (loss) for the period9904€83k€-27k▼
Profit (loss) for the period to be appropriated9905€83k€-27k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-111k€-137k▼
Profit (loss) brought forward from the previous period14P€-193k€-111k▲
The notes to these accounts (10 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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-27k ▼133%
Net result drops to €-27k, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €83k ▲266%
Operating result €87k, net result €83k, both a record.
31-12
Financial
Liquidity times 5current ratio 7.74
Current ratio from 1.64 to 7.74; short-term debt falls from €55k to €19k.
31-12
Financial
Equity above €150kEq €169k ▲95.1%
6 profitable years in a row build equity to €169k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 1.78
Current ratio from 0.84 to 1.78; short-term debt falls from €65k to €39k.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
31-12
Financial
Back to profitnet €23k
Net result €23k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Maldegem · 1 establishment unit since 1995
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.
Boslaan 499990 MaldegemGround area
1,760 m²
Building footprint
328 m²
Volume, LiDAR
2,223 m³
2 parcels, Flanders · tallest building 16.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
RATE ONE
since 19952.073.542.769
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43502D0005/00C003 | Flanders | 1,282 m² | 1 · 196 m² | 16.2 m · 2 fl. |
| 43502D0135/00R000 | Flanders | 478 m² | 1 · 132 m² | 10.6 m · 3 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 2 entries · 1,344 EUR awarded · 1,344 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 489 EUR | 489 EUR |
| 2023 | 1 | 855 EUR | 855 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 496 companies in sector 58130 we hold annual accounts for 244. 177 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-03-1995
Fiscal year end31-12
Activities, NACEBEL
52450
58130Publishing activities
58140Publishing activities
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
46431Wholesale of electrical household appliances and audio-video equipment
47120Other non-specialised retail sale
47540Retail sale of electrical household appliances
47711Retail sale of women's outerwear
47910Retail trade
52720
58190Other publishing activities, excluding software publishing
95210Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.