EXPLOSIVE
ActiveSummary
EXPLOSIVE has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €50k and a net result of €-9k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 70% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▲+30
Solvency83▲+2
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity tight (current ratio 1.31 against 2.21 in 2024; short-term debt: 17.1% and cash: 2.4% of total assets), and 42.2% of the assets are financed with debt.
Credit check 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
57.8%
Return on assets
-10%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
29 d late
2023
29 d late
2022
262 d late
2021
29 d late
2020
30 d late
2019
28 d late
← 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, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-9k▼ 293%
2024 · €-2k
2018: €20khighest in 8 years
2019: €9k▼ -53.8% vs 2018
2020: €-6k▼ -164% vs 2019
2021: €-6k▲ +6.3% vs 2020
2022: €8k▲ +251% vs 2021
2023: €1k▼ -83.0% vs 2022
2024: €-2k▼ -255% vs 2023
2025: €-9k▼ -293% vs 2024lowest in 8 years
2018 → 2025
Working capital
€5k▼ 73.7%
2024 · €17k
2018: €8k
2019: €16k▲ +110% vs 2018
2020: €18k▲ +9.2% vs 2019
2021: €9k▼ -51.2% vs 2020
2022: €16k▲ +81.3% vs 2021
2023: €22k▲ +41.4% vs 2022highest in 8 years
2024: €17k▼ -21.5% vs 2023
2025: €5k▼ -73.7% 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€51k-€59k▲ 16.3%€61k▲ 2.4%€59k▼ 3.6%€50k▼ 14.8%
2021: €51k
2022: €59k▲ +16.3% vs 2021
2023: €61k▲ +2.4% vs 2022highest in 5 years
2024: €59k▼ -3.6% vs 2023
2025: €50k▼ -14.8% vs 2024lowest in 5 years
Operating result€-5k-€3k€1k▼ 45.1%€-12k€-8k▲ 28.8%
2021: €-5k
2022: €3k▲ +153% vs 2021highest in 5 years
2023: €1k▼ -45.1% vs 2022
2024: €-12k▼ -888% vs 2023lowest in 5 years
2025: €-8k▲ +28.8% vs 2024
Net result€-6k-€8k€1k▼ 83.0%€-2k€-9k▼ 293%
2021: €-6k
2022: €8k▲ +251% vs 2021highest in 5 years
2023: €1k▼ -83.0% vs 2022
2024: €-2k▼ -255% vs 2023
2025: €-9k▼ -293% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2025 against €12k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €87k
Fixed assets
€67k ▼ 6.9%
Current assets
€19k ▼ 39.1%
Equity and liabilities €87k
Equity
€50k ▼ 14.8%
Debt
€37k ▼ 19.4%
Debt's share of the balance-sheet total falls from 43.6% to 42.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€7k▲
2024 · €-1k
Cash flow
€7k▼
2024 · €8k
Current ratio
1.31▼
2024 · 2.21
Quick ratio
0.34▼
2024 · 1.02
Debt to equity
0.73▼
2024 · 0.77
ROE
-17.3%▼
2024 · -3.8%
ROA
-10.0%▼
2024 · -2.1%
Interest coverage
4.76▲
2024 · -1.13
Debt ≤ 1 year
€15k▲
2024 · €14k
Debt > 1 year
€22k▼
2024 · €31k
Income taxes
€4▼
2024 · €8
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€104k€87k▼
Fixed assets21/28€72k€67k▼
Tangible fixed assets22/27€72k€67k▼
Land and buildings22€72k€67k▼
Current assets29/58€32k€19k▼
Stocks and contracts in progress3€17k€14k▼
Stocks30/36€17k€14k▼
Amounts receivable within one year40/41€4k€687▼
Trade receivables40€3k€687▼
Other amounts receivable41€589-
Current investments50/53€8k€2k▼
Cash at bank and in hand54/58€2k€2k▲
Deferred charges and accrued income490/1€1k€180▼
Equity and liabilities
Total equity and liabilities10/49€104k€87k▼
Equity10/15€59k€50k▼
Contributions10/11€19k€19k=
Reserves13€7k€7k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€5k€5k=
Profit (loss) carried forward14€33k€25k▼
Amounts payable17/49€45k€37k▼
Amounts payable after more than one year17€31k€22k▼
Financial debts170/4€31k€22k▼
Other amounts payable178/9€206-
Amounts payable within one year42/48€14k€15k▲
Current portion of amounts payable after more than one year42€10k€10k▲
Taxes, remuneration and social security45€5k€3k▼
Taxes450/3€5k€3k▼
Other amounts payable47/48-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€16k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€969€10k▲
Operating profit (loss)9901€-12k€-8k▲
Financial income75/76B€11k€1k▼
Recurring financial income75€378€137▼
Non-recurring financial income76B€10k€1k▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€-2k€-9k▼
Income taxes67/77€8€4▼
Profit (loss) for the period9904€-2k€-9k▼
Profit (loss) for the period to be appropriated9905€-2k€-9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€33k€25k▼
Profit (loss) brought forward from the previous period14P€35k€33k▼
The notes to these accounts (6 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 | €5k | €6k | €6k | €11k | €16k | ▲ 49.8% |
| Other operating charges640/8 | €2k | €2k | €2k | €2k | €2k | ▼ 1.4% |
| Gross operating margin9900 | €2k | €10k | €10k | €969 | €10k | ▲ 890% |
| Operating profit (loss)9901 | €-5k | €3k | €1k | €-12k | €-8k | ▲ 28.8% |
| Financial income75/76B | €38 | €6k | €220 | €11k | €1k | ▼ 87.8% |
| Recurring financial income75 | €38 | €250 | €220 | €378 | €137 | ▼ 63.8% |
| Non-recurring financial income76B | - | €6k | - | €10k | €1k | ▼ 88.7% |
| Financial charges65/66B | €388 | €127 | €294 | €1k | €2k | ▲ 38.0% |
| Recurring financial charges65 | €388 | €127 | €294 | €1k | €2k | ▲ 38.0% |
| Profit (loss) for the period before taxes9903 | €-6k | €8k | €1k | €-2k | €-9k | ▼ 294% |
| Income taxes67/77 | €31 | - | €2 | €8 | €4 | ▼ 50.0% |
| Profit (loss) for the period9904 | €-6k | €8k | €1k | €-2k | €-9k | ▼ 293% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €8k | €1k | €-2k | €-9k | ▼ 293% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €72k | €73k | €68k | €104k | €87k | ▼ 16.8% |
| Fixed assets21/28 | €45k | €45k | €39k | €72k | €67k | ▼ 6.9% |
| Tangible fixed assets22/27 | €45k | €45k | €39k | €72k | €67k | ▼ 6.9% |
| Land and buildings22 | €39k | €41k | €36k | €72k | €67k | ▼ 6.9% |
| Furniture and vehicles24 | €6k | €4k | €2k | - | - | - |
| Current assets29/58 | €27k | €28k | €29k | €32k | €19k | ▼ 39.1% |
| Stocks and contracts in progress3 | €20k | €19k | €19k | €17k | €14k | ▼ 15.9% |
| Stocks30/36 | €20k | €19k | €19k | €17k | €14k | ▼ 15.9% |
| Amounts receivable within one year40/41 | €4k | €5k | €3k | €4k | €687 | ▼ 82.1% |
| Trade receivables40 | €4k | €5k | €2k | €3k | €687 | ▼ 78.8% |
| Other amounts receivable41 | €16 | - | €1k | €589 | - | - |
| Current investments50/53 | €1k | €3k | €4k | €8k | €2k | ▼ 74.9% |
| Cash at bank and in hand54/58 | €2k | €733 | €3k | €2k | €2k | ▲ 22.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1k | €180 | ▼ 83.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €72k | €73k | €68k | €104k | €87k | ▼ 16.8% |
| Equity10/15 | €51k | €59k | €61k | €59k | €50k | ▼ 14.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Reserves13 | €7k | €7k | €7k | €7k | €7k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €5k | €5k | €5k | €5k | €5k | = |
| Profit (loss) carried forward14 | €26k | €34k | €35k | €33k | €25k | ▼ 26.1% |
| Amounts payable17/49 | €21k | €13k | €7k | €45k | €37k | ▼ 19.4% |
| Amounts payable after more than one year17 | €2k | €903 | - | €31k | €22k | ▼ 29.6% |
| Financial debts170/4 | €2k | €903 | - | €31k | €22k | ▼ 29.1% |
| Other amounts payable178/9 | - | - | - | €206 | - | - |
| Amounts payable within one year42/48 | €18k | €13k | €7k | €14k | €15k | ▲ 2.6% |
| Current portion of amounts payable after more than one year42 | €2k | €2k | €904 | €10k | €10k | ▲ 2.0% |
| Trade debts44 | €952 | €4 | €2k | - | - | - |
| Suppliers440/4 | €952 | €4 | €2k | - | - | - |
| Taxes, remuneration and social security45 | €2k | €4k | €4k | €5k | €3k | ▼ 38.7% |
| Taxes450/3 | €2k | €4k | €4k | €5k | €3k | ▼ 38.7% |
| Other amounts payable47/48 | €14k | €7k | €206 | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €8k | €1k | €-2k | €-9k | ▼ 293% |
| + Depreciation and write-downs630 | €5k | €6k | €6k | €11k | €16k | ▲ 49.8% |
| Operating cash flow (approximation) | €-309 | €14k | €7k | €8k | €7k | ▼ 14.4% |
| Investment in fixed assets (approximation) | - | €-5k | €0 | €-44k | €-11k | ▲ 75.6% |
| Change in cash | - | €-1k | €2k | €-1k | €382 | ▲ 136% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema · 29 days late
18-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 262 days late
2022
31-12
Financial
Back to profitnet €8k
Net result €8k after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 29 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Lontzen · 1 establishment unit since 1999
Ground area
507 m²
Building footprint
143 m²
Volume, LiDAR
1,065 m³
Parcel 63048D0202/00M006, Wallonia · tallest building 13.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MMM Collection
since 19992.046.791.060
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63048D0202/00M006 | Wallonia | 507 m² | 1 · 143 m² | 13.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
FAM
BE 1011.906.770
Antwerpen · Eq €50,012
AUTREMENT
BE 0451.821.248
Ath · Eq €50,038
AU LOUVRE
BE 0457.175.549
Brussel · Eq €49,895
Suzy Shoez and Thingz
BE 1025.365.323
Dessel · Eq €50,229
OPERANDI
BE 0432.455.197
Wavre · Eq €49,737
Of 6,502 companies in sector 47716 we hold annual accounts for 2,440. 1,857 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded19-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
46423Wholesale of clothing, excluding workwear and underwear
Scores and ratios are computed by Checked and are not a credit decision.