EXPLEO
ActiveSummary
EXPLEO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3k and a net result of €-1k. Equity is shrinking by ~32.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▲+5
Solvency32▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
6.6%
Return on assets
-2.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← 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 10-02-2026, 171 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
171 d early
2024
169 d early
2023
161 d early
2022
178 d early
2021
149 d early
2020
123 d early
2019
52 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, unclassified schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-1k▲ 59.8%
2024 · €-3k
2018: €12k
2019: €12k▲ +0.3% vs 2018
2020: €2k▼ -84.6% vs 2019
2021: €25k▲ +1267% vs 2020highest in 8 years
2022: €3k▼ -89.7% vs 2021
2023: €-13k▼ -584% vs 2022lowest in 8 years
2024: €-3k▲ +73.2% vs 2023
2025: €-1k▲ +59.8% vs 2024
2018 → 2025
Working capital
€40k▼ 3.0%
2024 · €41k
2018: €85khighest in 8 years
2019: €67k▼ -21.2% vs 2018
2020: €56k▼ -16.1% vs 2019
2021: €57k▲ +0.9% vs 2020
2022: €56k▼ -1.2% vs 2021
2023: €44k▼ -21.8% vs 2022
2024: €41k▼ -6.9% vs 2023
2025: €40k▼ -3.0% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€22k-€20k▼ 4.9%€8k▼ 61.4%€5k▼ 42.6%€3k▼ 29.9%
2021: €22khighest in 5 years
2022: €20k▼ -4.9% vs 2021
2023: €8k▼ -61.4% vs 2022
2024: €5k▼ -42.6% vs 2023
2025: €3k▼ -29.9% vs 2024lowest in 5 years
Operating result€34k-€4k▼ 86.8%€-12k€-3k▲ 73.6%€-1k▲ 61.1%
2021: €34khighest in 5 years
2022: €4k▼ -86.8% vs 2021
2023: €-12k▼ -382% vs 2022lowest in 5 years
2024: €-3k▲ +73.6% vs 2023
2025: €-1k▲ +61.1% vs 2024
Net result€25k-€3k▼ 89.7%€-13k€-3k▲ 73.2%€-1k▲ 59.8%
2021: €25khighest in 5 years
2022: €3k▼ -89.7% vs 2021
2023: €-13k▼ -584% vs 2022lowest in 5 years
2024: €-3k▲ +73.2% vs 2023
2025: €-1k▲ +59.8% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1k in 2025 against €3k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €49k
Equity
€3k ▼ 29.9%
Debt
€45k ▼ 1.7%
Debt's share of the balance-sheet total rises from 91.1% to 93.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-1k▲
2024 · €-3k
Cash flow
€-1k▲
2024 · €-3k
Current ratio
5.43▲
2024 · 5.19
Quick ratio
3.41▲
2024 · 3.34
Debt to equity
14.27▲
2024 · 10.18
ROE
-42.6%▲
2024 · -74.4%
ROA
-2.8%▲
2024 · -6.6%
Interest coverage
-17.55▲
2024 · -44.90
Debt ≤ 1 year
€9k▼
2024 · €10k
Debt > 1 year
€36k=
2024 · €36k
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 · 2025 against 2024 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€51k€49k▼
Formation expenses20€0€0=
Fixed assets21/28€115€0▼
Tangible fixed assets22/27€115€0▼
Plant, machinery and equipment23€115€0▼
Furniture and vehicles24€0€0=
Current assets29/58€51k€49k▼
Stocks and contracts in progress3€18k€18k=
Stocks30/36€18k€18k=
Amounts receivable within one year40/41€6k€6k▼
Other amounts receivable41€6k€6k▼
Cash at bank and in hand54/58€26k€24k▼
Deferred charges and accrued income490/1€163€731▲
Equity and liabilities
Total equity and liabilities10/49€51k€49k▼
Equity10/15€5k€3k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-16k€-17k▼
Amounts payable17/49€46k€45k▼
Amounts payable after more than one year17€36k€36k=
Other amounts payable178/9€36k€36k=
Amounts payable within one year42/48€10k€9k▼
Trade debts44€400€410▲
Suppliers440/4€400€410▲
Other amounts payable47/48€9k€9k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€367€115▼
Gross operating margin9900€-3k€-1k▲
Operating profit (loss)9901€-3k€-1k▲
Financial charges65/66B€65€67▲
Recurring financial charges65€65€67▲
Profit (loss) for the period before taxes9903€-3k€-1k▲
Profit (loss) for the period9904€-3k€-1k▲
Profit (loss) for the period to be appropriated9905€-3k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-16k€-17k▼
Profit (loss) brought forward from the previous period14P€-13k€-16k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €367 | €367 | €367 | €367 | €115 | ▼ 68.7% |
| Gross operating margin9900 | €34k | €5k | €-12k | €-3k | €-1k | ▲ 60.1% |
| Operating profit (loss)9901 | €34k | €4k | €-12k | €-3k | €-1k | ▲ 61.1% |
| Financial income75/76B | - | €14 | - | - | - | - |
| Recurring financial income75 | - | €14 | - | - | - | - |
| Financial charges65/66B | - | €967 | €61 | €65 | €67 | ▲ 2.0% |
| Recurring financial charges65 | €57 | €967 | €61 | €65 | €67 | ▲ 2.0% |
| Profit (loss) for the period before taxes9903 | €34k | €3k | €-13k | €-3k | €-1k | ▲ 59.8% |
| Income taxes67/77 | €8k | €886 | - | - | - | - |
| Profit (loss) for the period9904 | €25k | €3k | €-13k | €-3k | €-1k | ▲ 59.8% |
| Profit (loss) for the period to be appropriated9905 | €25k | €3k | €-13k | €-3k | €-1k | ▲ 59.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €96k | €70k | €53k | €51k | €49k | ▼ 4.3% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €1k | €849 | €482 | €115 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €1k | €849 | €482 | €115 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | €849 | €482 | €115 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0 | €0 | - |
| Current assets29/58 | €95k | €69k | €53k | €51k | €49k | ▼ 4.0% |
| Stocks and contracts in progress3 | €27k | €16k | €43k | €18k | €18k | = |
| Stocks30/36 | - | €16k | €43k | €18k | €18k | = |
| Amounts receivable within one year40/41 | €2k | €6k | €6k | €6k | €6k | ▼ 6.8% |
| Other amounts receivable41 | - | €6k | €6k | €6k | €6k | ▼ 6.8% |
| Cash at bank and in hand54/58 | €65k | €46k | €3k | €26k | €24k | ▼ 8.3% |
| Deferred charges and accrued income490/1 | - | €996 | €1k | €163 | €731 | ▲ 348% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €96k | €70k | €53k | €51k | €49k | ▼ 4.3% |
| Equity10/15 | €22k | €20k | €8k | €5k | €3k | ▼ 29.9% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €1k | - | €-13k | €-16k | €-17k | ▼ 8.5% |
| Amounts payable17/49 | €75k | €50k | €45k | €46k | €45k | ▼ 1.7% |
| Amounts payable after more than one year17 | €36k | €36k | €36k | €36k | €36k | = |
| Other amounts payable178/9 | - | €36k | €36k | €36k | €36k | = |
| Amounts payable within one year42/48 | €38k | €13k | €9k | €10k | €9k | ▼ 8.2% |
| Trade debts44 | €662 | €550 | €400 | €400 | €410 | ▲ 2.5% |
| Suppliers440/4 | - | €550 | €400 | €400 | €410 | ▲ 2.5% |
| Taxes, remuneration and social security45 | - | €548 | - | - | - | - |
| Taxes450/3 | - | €548 | - | - | - | - |
| Other amounts payable47/48 | - | €12k | €9k | €9k | €9k | ▼ 8.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25k | €3k | €-13k | €-3k | €-1k | ▲ 59.8% |
| + Depreciation and write-downs630 | €367 | €367 | €367 | €367 | €115 | ▼ 68.7% |
| Operating cash flow (approximation) | €26k | €3k | €-12k | €-3k | €-1k | ▲ 58.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-19k | €-43k | €23k | €-2k | ▼ 109% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-02
NBB filing
Annual accounts filed
fiscal year 2025 · unclassified schema
2025
12-02
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
21-02
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
03-02
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema
2022
31-12
Financial
Liquidity doublescurrent ratio 5.18
Current ratio from 2.48 to 5.18; short-term debt falls from €38k to €13k.
04-03
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
2021
31-12
Financial
Highest result since 2018net €25k ▲1,267%
Operating result €34k, net result €25k, both a record.
30-03
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema
2020
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 25.38
Current ratio from 6.75 to 25.38; short-term debt falls from €15k to €3k.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Raeren · 1 establishment unit since 2015
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.
Hauptstrasse 1394730 Raeren1 establishment unit
EXPLEO
since 20152.242.405.022
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Of 2,503 companies in sector 46649 we hold annual accounts for 1,755. 144 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
33120Repair and maintenance of machinery
46140Agents in the wholesale of industrial machinery, ships and aircraft
77391Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.