Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The micro format states no turnover.
In 2025, 9 people joined and 7 left.
The 2019 accounts came latest: 31 days after the end of the period.
Less equity than 85% of companies in printing. Sector median €63,051 · 1,229 companies.
In July 2024, 3,631 companies had the same profile as FIVE has now. Each dot stands for 10 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,631 companies, not a prediction for FIVE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| FIVE Brussels | €112,925 | €100,924 | -6.4% | - |
| KALYPTUS Brussels | €121,955 | €106,674 | 16.8% | - |
| DIVASOL Nazareth-De Pinte | €124,868 | €92,358 | 66.8% | - |
| WE CONTROL La Hulpe | €133,190 | €90,457 | -21.6% | - |
| TiGR Ghent | €102,543 | €65,865 | 88.1% | - |
| DL PRINTING Sint-Genesius-Rode | €127,977 | €77,607 | 75.0% | - |
| INSPIRATION BY VERVIERS Verviers | €159,349 | €122,155 | -71.3% | - |
These companies have the same main activity as FIVE: pre-press and pre-media services (NACE 18130). They are comparable in size and age: total assets between €103,000 and €159,000, founded between 2012 and 2017.
FIVE files the micro format. That format states no turnover. The gross margin rose from -€36,196 in 2016 to €100,924 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €250,000. Estimated: probably between €170,000 and €390,000.
Higher than 16% of 1,228 companies in 2025.
Higher than 22% of 1,188 companies in 2025.
Higher than 79% of 1,199 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 9 people joined and 7 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
112,925 | 107,888 | 161,638 | 151,427 | 155,196 | 216,173 | 158,439 | 160,259 | 123,402 | 182,420 | |
21/28 |
12,400 | 14,675 | 13,612 | 24,664 | 28,288 | 36,299 | 48,972 | 28,340 | 16,167 | 46,001 | |
21 |
452 | 1,352 | 2,252 | 3,152 | 4,052 | - | - | - | 12,256 | 41,648 | |
22/27 |
1,947 | 3,323 | 4,859 | 11,411 | 20,135 | 32,199 | 44,872 | 28,340 | 3,912 | 4,352 | |
24 |
1,947 | 3,323 | 4,859 | 11,411 | 20,135 | 32,199 | 44,872 | 28,340 | 3,912 | 4,352 | |
28 |
10,000 | 10,000 | 6,500 | 10,100 | 4,100 | 4,100 | 4,100 | - | - | - | |
29/58 |
100,525 | 93,213 | 148,026 | 126,763 | 126,908 | 179,874 | 109,466 | 131,920 | 107,235 | 136,419 | |
3 |
67,343 | 69,675 | 101,844 | 78,193 | 50,026 | 66,383 | 51,540 | 55,389 | 52,932 | 67,987 | |
30/36 |
67,343 | 69,675 | 101,844 | 78,193 | 50,026 | 66,383 | 51,540 | 55,389 | 52,932 | 67,987 | |
40/41 |
23,321 | 13,953 | 42,791 | 28,124 | 46,834 | 51,649 | 42,458 | 43,766 | 44,380 | 53,449 | |
40 |
23,321 | 13,953 | 39,291 | 27,642 | 46,834 | 51,649 | 42,458 | 41,736 | 41,972 | 51,419 | |
41 |
- | 0 | 3,500 | 483 | - | - | - | 2,030 | 2,408 | 2,030 | |
54/58 |
9,154 | 7,717 | 3,098 | 18,966 | 29,075 | 60,963 | 14,336 | 15,878 | 9,922 | 14,280 | |
490/1 |
708 | 1,868 | 293 | 1,480 | 974 | 880 | 1,132 | 16,887 | - | 703 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
112,925 | 107,888 | 161,638 | 151,427 | 155,196 | 216,173 | 158,439 | 160,259 | 123,402 | 182,420 | |
10/15 |
-7,272 | -27,082 | -44,168 | -89,611 | -90,026 | -101,577 | -102,024 | -109,663 | -82,428 | -75,365 | |
10/11 |
16,200 | 16,200 | 16,200 | 16,200 | 16,200 | 16,200 | 16,200 | 16,200 | 16,200 | 16,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 2,400 | 2,400 | 2,400 | 2,400 | |
14 |
-23,472 | -43,282 | -60,368 | -105,811 | -106,226 | -117,777 | -118,224 | -125,863 | -98,628 | -91,565 | |
17/49 |
120,197 | 134,971 | 205,806 | 241,038 | 245,221 | 317,751 | 260,463 | 269,922 | 205,830 | 257,784 | |
17 |
- | - | - | - | - | 7,365 | 28,919 | 56,430 | 84,724 | - | |
170/4 |
- | - | - | - | - | 7,365 | 28,919 | 56,430 | 84,724 | - | |
42/48 |
120,197 | 134,971 | 205,806 | 241,038 | 245,221 | 310,302 | 231,544 | 213,493 | 121,105 | 257,784 | |
42 |
5,722 | - | - | - | 4,921 | 28,560 | 27,511 | 26,172 | 22,776 | - | |
43 |
1,102 | 1,603 | - | - | - | - | - | - | - | - | |
430/8 |
1,102 | 1,603 | - | - | - | - | - | - | - | - | |
44 |
28,204 | 24,153 | 64,358 | 59,609 | 32,677 | 35,060 | 27,184 | 23,452 | 2,572 | 37,452 | |
440/4 |
28,204 | 24,153 | 64,358 | 59,609 | 32,677 | 35,060 | 27,184 | 23,452 | 2,572 | 37,452 | |
45 |
37,674 | 28,286 | 29,986 | 25,999 | 16,466 | 18,228 | 9,186 | 9,859 | 6,159 | 2,019 | |
450/3 |
27,352 | 20,625 | 24,386 | 22,043 | 11,585 | 17,806 | 9,186 | 9,859 | 6,159 | 2,019 | |
454/9 |
10,323 | 7,661 | 5,600 | 3,957 | 4,881 | 421 | - | - | - | - | |
47/48 |
47,495 | 80,929 | 111,461 | 155,430 | 191,158 | 228,454 | 167,663 | 154,010 | 89,598 | 218,313 | |
492/3 |
- | - | - | - | - | 84 | - | - | - | - | |
| Income statement | |||||||||||
9900 |
100,924 | 88,280 | 137,447 | 59,163 | 79,514 | 44,318 | 31,068 | 5,118 | -534 | -36,196 | |
60/61 |
- | - | - | - | 262,333 | - | - | - | - | - | |
62 |
66,460 | 62,925 | 79,886 | 38,306 | 36,106 | 5,178 | - | - | - | - | |
630 |
2,275 | 5,798 | 8,217 | 8,234 | 14,882 | 14,697 | 12,893 | 21,098 | 32,026 | 49,551 | |
631/4 |
- | - | - | - | - | - | - | - | 1,799 | - | |
640/8 |
417 | 559 | 3,184 | 3,201 | 3,340 | 10,418 | 558 | 897 | 579 | 923 | |
9901 |
31,772 | 18,997 | 46,160 | 9,423 | 25,186 | 14,025 | 17,617 | -16,877 | -34,939 | -86,670 | |
75/76B |
1 | 89 | 10 | 14 | 5 | 99 | 0 | 3 | 36,849 | 6,253 | |
75 |
1 | 89 | 10 | 14 | 5 | 99 | 0 | 3 | 24 | 6,253 | |
76B |
- | - | - | - | - | - | - | - | 36,825 | - | |
65/66B |
904 | 420 | 179 | 8,507 | 13,427 | 13,466 | 9,746 | 10,153 | 8,973 | 11,147 | |
65 |
904 | 420 | 179 | 8,507 | 13,427 | 13,466 | 9,746 | 10,153 | 8,973 | 11,147 | |
9903 |
30,869 | 18,666 | 45,992 | 929 | 11,765 | 658 | 7,871 | -27,027 | -7,063 | -91,565 | |
67/77 |
11,059 | 1,580 | 549 | 515 | 213 | 211 | 232 | 208 | - | - | |
9904 |
19,810 | 17,086 | 45,443 | 415 | 11,552 | 447 | 7,639 | -27,236 | -7,063 | -91,565 | |
9905 |
19,810 | 17,086 | 45,443 | 415 | 11,552 | 447 | 7,639 | -27,236 | -7,063 | -91,565 | |
| Appropriation of the result | |||||||||||
9906 |
-23,472 | -43,282 | -60,368 | -105,811 | -106,226 | -117,777 | -118,224 | -125,863 | -98,628 | -91,565 | |
14P |
-43,282 | -60,368 | -105,811 | -106,226 | -117,777 | - | - | - | - | - | |
| Social balance sheet | |||||||||||
9087 |
- | - | 4 | - | 1 | 0.3 | - | - | - | - | |
Hours worked1013 |
3,969 | 3,969 | - | - | 17,923 | 501 | - | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 26-05-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-05-2026 | 2026-00126829 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00443510 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00440615 | |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00363164 | |
| 31-12-2021 | micro format | 17-08-2022 | 2022-20306489 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-38400238 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-48100178 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41200267 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-41700483 | |
| 31-12-2016 | full format | 13-07-2017 | 2017-31100511 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 34,047 | 24,795 | 54,377 | 17,656 | 40,068 | 28,722 | 30,510 | 4,221 | -2,912 | -37,119 | ||
| 22,086 | 22,884 | 53,659 | 8,648 | 26,434 | 15,144 | 20,532 | -6,137 | 24,963 | -42,014 | ||
| 0 | 3,362 | 765 | 6,000 | 6,890 | 2,024 | 33,525 | 33,271 | 2,193 | 95,552 | ||
| 1,437 | 4,620 | -15,868 | -10,109 | -31,889 | 46,627 | -1,542 | 5,956 | -4,357 | - | ||
| -19,672 | -41,757 | -57,780 | -114,275 | -118,313 | -130,428 | -122,078 | -81,573 | -13,871 | -121,365 | ||
| -6.4% | -25.1% | -27.3% | -59.2% | -58.0% | -47.0% | -64.4% | -68.4% | -66.8% | -41.3% | ||
| 0.84 | 0.69 | 0.72 | 0.53 | 0.52 | 0.58 | 0.47 | 0.62 | 0.89 | 0.53 | ||
| 0.28 | 0.17 | 0.22 | 0.20 | 0.31 | 0.37 | 0.25 | 0.36 | 0.45 | 0.27 | ||
| 17.5% | 15.8% | 28.1% | 0.3% | 7.4% | 0.2% | 4.8% | -17.0% | -5.7% | -50.2% | ||
| 37.68 | 59.01 | over 100 | 2.08 | 2.98 | - | - | - | - | - | ||
| - | - | - | - | 45 days | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2021 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | - | 1 |
| full-time | 3 | 3 | - | 1 |
| part-time | - | 0 | - | 0 |
| in full-time equivalents | 3 | - | - | 1 |
| - | - | 4 | 1 | |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | 9 | 9 | 9 | - |
| Left | 7 | 7 | 7 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €3,362 | €765 | - | €2,390 |
| Intangible fixed assets | - | - | - | - | €4,500 |
| Financial fixed assets | - | - | - | €6,000 | - |
| €2,275 | €5,798 | €8,217 | €8,234 | €14,882 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 67% higher than in 2024. It is a recovery after the fall in 2024.
Equity is negative. Debt (€120,197) exceeds the balance-sheet total (€112,925).
FIVE has no parent and no holdings in its annual accounts. is the only director.
| Nollevaux, Sophie (sole trader)
establishment since 09-04-2010 |
founded in 2010 0824.827.127 |
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Bshirt registered office Papenhoutlaan 46, 1020 Brussels 1813005 Pre-press and pre-media services | 25-06-2015 | 2.243.149.744 |
| Oud Korenhuis 25 1000 Brussels 1813005 Pre-press and pre-media services | 23-01-2020 | 2.298.479.237 |
| Bshirt La Madeleine Magdalenasteenweg 11, 1000 Brussels 47120 Other non-specialised retail sale | 01-08-2022 | 2.334.934.114 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21818E0200/00G005 | 282 m² | 1 · 86 m² | 13.8 m · 4 |
| 21004A0955/00A000 | 49 m² | 1 · 49 m² | 26.6 m · 4 |
| 21004A1508/00_000 | 34 m² | 1 · 34 m² | 14.0 m · 4 |
If something looks wrong or is missing, please tell us.