FIRST ELEMENT
ActiveFIRST ELEMENT has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €517k and a net result of €-236k. Equity is growing by ~19.2% per year across the filed fiscal years. Its solvency ranks better than 56% of 7931 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-71
Solvency75▼-25
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.02 against 9.39 in 2024; short-term debt: 48.4% and cash: 54.7% of total assets), but 50.5% 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 · 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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
27 d early
2023
16 d early
2022
56 d late
2021
51 d late
2020
88 d late
2019
10 d early
← 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€517k▼ 31.4%
2024 · €753k
2018: €261k
2019: €312k
2020: €364k
2021: €444k
2022: €529k
2023: €635k
2024: €753k
2018 → 2025
Total assets
€1.04M▲ 21.4%
2024 · €859k
2018: €307k
2019: €357k
2020: €1.96M
2021: €1.54M
2022: €574k
2023: €975k
2024: €859k
2018 → 2025
Net result
€-236k
2024 · €118k
2018: €42k
2019: €51k
2020: €51k
2021: €80k
2022: €86k
2023: €106k
2024: €118k
2018 → 2025
Working capital
€514k▼ 30.6%
2024 · €741k
2018: €251k
2019: €294k
2020: €351k
2021: €438k
2022: €487k
2023: €612k
2024: €741k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€444k-€529k▲ 19.3%€635k▲ 19.9%€753k▲ 18.6%€517k▼ 31.4%
Operating result€37k-€238k▲ 547%€161k▼ 32.2%€134k▼ 17.0%€-183k
Net result€80k-€86k▲ 6.9%€106k▲ 23.3%€118k▲ 11.7%€-236k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €183k after €134k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.04M
Fixed assets
€24k▼ 19.0%
Current assets
€1.02M▲ 22.8%
Equity and liabilities €1.04M
Equity
€517k▼ 31.4%
Debt
€527k▲ 394%
The debt ratio rises from 12.4% to 50.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-171k▼
2024 · €148k
Cash flow
€-224k▼
2024 · €131k
Solvency
49.5%▼
2024 · 87.6%
Current ratio
2.02▼
2024 · 9.39
Quick ratio
2.02▼
2024 · 9.39
Debt / equity
1.02▲
2024 · 0.14
ROE
-45.7%▼
2024 · 15.7%
ROA
-22.6%▼
2024 · 13.7%
Interest coverage
-2.50▼
2024 · 4.22
Debt
€527k▲
2024 · €107k
Debt ≤ 1 year
€505k▲
2024 · €88k
Staff costs
€74k▲
2024 · €57k
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€859k€1.04M▲
Fixed assets21/28€30k€24k▼
Tangible fixed assets22/27€16k€10k▼
Plant, machinery and equipment23€13k€2k▼
Furniture and vehicles24€3k€8k▲
Financial fixed assets28€14k€14k=
Current assets29/58€830k€1.02M▲
Amounts receivable within one year40/41€404k€428k▲
Trade receivables40€15k-
Other amounts receivable41€389k€428k▲
Cash at bank and in hand54/58€406k€571k▲
Deferred charges and accrued income490/1€20k€20k▲
Equity and liabilities
Total equity and liabilities10/49€859k€1.04M▲
Equity10/15€753k€517k▼
Contributions10/11€19k€19k=
Reserves13€232k€232k=
Distributable reserves133€232k€232k=
Profit (loss) carried forward14€502k€266k▼
Amounts payable17/49€107k€527k▲
Amounts payable within one year42/48€88k€505k▲
Trade debts44€79k€498k▲
Suppliers440/4€79k€498k▲
Taxes, remuneration and social security45€9k€7k▼
Taxes450/3€9k-
Remuneration and social security454/9-€7k
Accrued charges and deferred income492/3€18k€22k▲
Income statement
Code20242025
Remuneration, social security and pensions62€57k€74k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€12k▼
Other operating charges640/8€7k€8k▲
Gross operating margin9900€211k€-89k▼
Operating profit (loss)9901€134k€-183k▼
Financial income75/76B€58k€15k▼
Recurring financial income75€58k€15k▼
Financial charges65/66B€35k€68k▲
Recurring financial charges65€35k€68k▲
Profit (loss) for the period before taxes9903€157k€-236k▼
Income taxes67/77€39k-
Profit (loss) for the period9904€118k€-236k▼
Profit (loss) for the period to be appropriated9905€118k€-236k▼
Appropriation of the result
Profit (loss) to be appropriated9906€502k€266k▼
Profit (loss) brought forward from the previous period14P€385k€502k▲
Social balance
Average headcount (FTE)90871.11.2▲
The notes to these accounts (6 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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-236k ▼300%
Net result drops to €-236k, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €118k ▲11.7%
Net result €118k, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 9.39
Current ratio from 2.91 to 9.39; short-term debt falls from €320k to €88k.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 56 days late
2022
31-12
Financial
Liquidity times 10current ratio 13.84
Current ratio from 1.40 to 13.84; short-term debt falls from €1.09M to €38k.
31-12
Financial
Equity above €500kEq €529k ▲19.3%
5 profitable years in a row build equity to €529k.
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 51 days late
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 88 days late
2020
21-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Antwerpen · 1 establishment unit since 2013
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.
Hoveniersstraat 222018 AntwerpenGround area
951 m²
Building footprint
757 m²
Volume, LiDAR
19,973 m³
Parcel 11808H1178/00C009, Flanders · tallest building 38.7 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
FIRST ELEMENT BVBA
since 20132.219.155.706
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1178/00C009 | Flanders | 951 m² | 1 · 757 m² | 38.7 m · 10 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
SANDGEMS
BE 0452.004.954
Antwerpen · Eq €513k
DEEPDIAM
BE 0824.294.914
Antwerpen · Eq €512k
DIAMASTER
BE 0862.697.511
Antwerpen · Eq €511k
S.G.I.
BE 0751.988.639
Antwerpen · Eq €510k
RAMOS DIAMONDS
BE 0442.626.935
Antwerpen · Eq €524k
Of 1,229 companies in sector 46861 we hold annual accounts for 678. 477 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-05-2013
Fiscal year end31-12
Activities, NACEBEL
46861Wholesale of diamonds and other precious stones
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.