FIRST INC
ActiveFIRST INC has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €68k and a net result of €8k. Equity is shrinking by ~12.5% per year across the filed fiscal years. Its solvency ranks better than 76% of 4443 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
86
/ 100
Excellent▲ +29 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability55▲+19
Solvency77▲+16
Growth58=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.01 against 0.61 in 2024), and 38.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
61.6%
Return on assets
6.8%
Age of the figures
8 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €68k
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
29 d late
2023
26 d late
2022
31 d late
2021
68 d late
2020
82 d late
2019
58 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
08-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€308k▲ 7.9%
2018 · €285k
2018: €285k
2018 → 2019
EBIT margin
0.9%▼ 2.0pp
2018 · 2.9%
2018: 2.9%
2018 → 2019
Net result
€8k▲ 74.7%
2024 · €4k
2018: €2k
2019: €480
2020: €-8k
2021: €4k
2022: €-41k
2023: €-18k
2024: €4k
2018 → 2025
Working capital
€352
2024 · €-27k
2018: €-41k
2019: €-32k
2020: €-191
2021: €17k
2022: €-22k
2023: €-30k
2024: €-27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€118k-€76k▼ 35.2%€58k▼ 24.2%€60k▲ 4.7%€68k▲ 12.4%
Operating result€-4k-€-39k▼ 849%€-14k▲ 64.4%€5k€10k▲ 93.1%
Net result€4k-€-41k€-18k▲ 55.5%€4k€8k▲ 74.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 93% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110k
Fixed assets
€68k▼ 22.5%
Current assets
€43k▲ 0.1%
Equity and liabilities €110k
Equity
€68k▲ 12.4%
Debt
€42k▼ 39.0%
The debt ratio falls from 53.5% to 38.4%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€20k▲
2024 · €20k
Cash flow
€18k▼
2024 · €19k
Solvency
61.6%▲
2024 · 46.5%
Current ratio
1.01▲
2024 · 0.61
Quick ratio
0.49▲
2024 · 0.30
Debt / equity
0.62▼
2024 · 1.15
ROE
11.0%▲
2024 · 7.1%
ROA
6.8%▲
2024 · 3.3%
Interest coverage
11.56▼
2024 · 28.84
Debt
€42k▼
2024 · €69k
Debt ≤ 1 year
€42k▼
2024 · €69k
Income taxes
€366▲
2024 · €0
Staff costs
€104k▼
2024 · €122k
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€130k€110k▼
Fixed assets21/28€87k€68k▼
Tangible fixed assets22/27€87k€68k▼
Land and buildings22€69k€60k▼
Plant, machinery and equipment23€7k€6k▼
Furniture and vehicles24€11k€2k▼
Financial fixed assets28€0-
Current assets29/58€43k€43k▲
Stocks and contracts in progress3€22k€22k=
Stocks30/36€22k€22k=
Amounts receivable within one year40/41€1k€16k▲
Trade receivables40€1k€12k▲
Other amounts receivable41€0€4k▲
Cash at bank and in hand54/58€19k€5k▼
Equity and liabilities
Total equity and liabilities10/49€130k€110k▼
Equity10/15€60k€68k▲
Contributions10/11€25k€25k=
Reserves13€36k€43k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€33k€41k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€69k€42k▼
Amounts payable within one year42/48€69k€42k▼
Current portion of amounts payable after more than one year42€0-
Trade debts44€9k€15k▲
Suppliers440/4€9k€15k▲
Taxes, remuneration and social security45€17k€16k▼
Taxes450/3€5k€4k▼
Remuneration and social security454/9€12k€12k▲
Other amounts payable47/48€44k€11k▼
Income statement
Code20242025
Non-recurring operating income76A-€4k
Remuneration, social security and pensions62€122k€104k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€11k▼
Other operating charges640/8€4k€4k▲
Gross operating margin9900€145k€128k▼
Operating profit (loss)9901€5k€10k▲
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€697€2k▲
Recurring financial charges65€697€2k▲
Profit (loss) for the period before taxes9903€4k€8k▲
Income taxes67/77€0€366▲
Profit (loss) for the period9904€4k€8k▲
Profit (loss) for the period to be appropriated9905€4k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€4k€8k▲
Transfer from equity791/2€0-
Transfer to equity691/2€3k€8k▲
To other reserves6921€3k€8k▲
Profit to be distributed694/7€2k€0▼
Directors or managers695€2k€0▼
The notes to these accounts (13 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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €8k ▲74.7%
Operating result €10k, net result €8k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-41k ▼1239%
Net result drops to €-41k, the lowest in the series; recovery starts the following year.
07-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 68 days late
2021
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 82 days late
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 105 days late
2017
26-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 87 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Dendermonde · 1 establishment unit since 1995
Ground area
522 m²
Building footprint
222 m²
Volume, LiDAR
3,350 m³
Parcel 42006D0708/00G000, Flanders · tallest building 18.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
FIRST
since 19952.070.644.746
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42006D0708/00G000 | Flanders | 522 m² | 1 · 222 m² | 18.3 m · 5 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.
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Of 21,676 companies in sector 96210 we hold annual accounts for 2,809. 1,964 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-01-1995
Fiscal year end31-12
Activities, NACEBEL
93021
96021Hairdressing
96210Hairdressing and barber services
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 08-09-2026. Scores and ratios are computed by Checked and are not a credit decision.