FOCUS RESEARCH
ActiveFOCUS RESEARCH has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-65k) and a net result of €1k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 7027 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability69=
Solvency7=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.04 against 0.04 in 2024; short-term debt: 109.7% and cash: 2.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight 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 · 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
-17.8%
Return on assets
0.3%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 7027 sector peers (2025).
NBB · sector comparisonPosition among 7027 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 08-12-2025, 54 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
54 d early
2024
68 d early
2023
35 d early
2022
34 d early
2021
42 d early
2020
48 d early
2019
39 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close23-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-65k▲ 1.7%
2024 · €-66k
2019: €49k
2020: €49k
2021: €49k
2022: €51k
2023: €-68k
2024: €-66k
2019 → 2025
Total assets
€364k▼ 1.9%
2024 · €371k
2019: €516k
2020: €515k
2021: €527k
2022: €506k
2023: €376k
2024: €371k
2019 → 2025
Net result
€1k▼ 31.9%
2024 · €2k
2019: €988
2020: €-17
2021: €478
2022: €2k
2023: €-119k
2024: €2k
2019 → 2025
Working capital
€-385k▼ 1.2%
2024 · €-380k
2019: €-379k
2020: €-374k
2021: €-377k
2022: €-377k
2023: €-382k
2024: €-380k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€49k-€51k▲ 4.3%€-68k€-66k▲ 2.4%€-65k▲ 1.7%
Operating result€3k-€5k▲ 72.1%€744▼ 85.0%€4k▲ 485%€3k▼ 41.2%
Net result€478-€2k▲ 340%€-119k€2k€1k▼ 31.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 41% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €364k
Fixed assets
€349k▼ 1.8%
Current assets
€14k▼ 5.9%
Key figures and ratios
EBITDA
€26k▼
2024 · €27k
Cash flow
€24k▲
2024 · €24k
Solvency
-17.8%▼
2024 · -17.8%
Current ratio
0.04▼
2024 · 0.04
Quick ratio
0.04▼
2024 · 0.04
Debt / equity
-6.61▲
2024 · -6.62
ROA
0.3%▼
2024 · 0.4%
Interest coverage
29.07▲
2024 · 17.82
Debt
€428k▼
2024 · €437k
Debt ≤ 1 year
€399k▲
2024 · €395k
Debt > 1 year
€30k▼
2024 · €41k
Income taxes
€553▼
2024 · €1k
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€371k€364k▼
Fixed assets21/28€356k€349k▼
Tangible fixed assets22/27€356k€349k▼
Land and buildings22€301k€297k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€3k€5k▲
Other tangible fixed assets26€49k€45k▼
Current assets29/58€15k€14k▼
Amounts receivable within one year40/41€2k€5k▲
Trade receivables40€1k€5k▲
Other amounts receivable41€267€0▼
Cash at bank and in hand54/58€12k€8k▼
Deferred charges and accrued income490/1€994€951▼
Equity and liabilities
Total equity and liabilities10/49€371k€364k▼
Equity10/15€-66k€-65k▲
Contributions10/11€80k€80k=
Capital10€80k€80k=
Issued capital100€80k€80k=
Reserves13€3k€3k▲
Non-distributable reserves130/1€3k€3k▲
Legal reserve130€3k€3k▲
Profit (loss) carried forward14€-149k€-148k▲
Amounts payable17/49€437k€428k▼
Amounts payable after more than one year17€41k€30k▼
Financial debts170/4€41k€30k▼
Amounts payable within one year42/48€395k€399k▲
Trade debts44€106€3k▲
Suppliers440/4€106€3k▲
Taxes, remuneration and social security45€1k€5k▲
Taxes450/3€1k€5k▲
Other amounts payable47/48€394k€391k▼
Income statement
Code20242025
Non-recurring operating income76A€8k€12k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€23k▲
Other operating charges640/8€5k€7k▲
Gross operating margin9900€32k€33k▲
Operating profit (loss)9901€4k€3k▼
Financial charges65/66B€2k€887▼
Recurring financial charges65€2k€887▼
Profit (loss) for the period before taxes9903€3k€2k▼
Income taxes67/77€1k€553▼
Profit (loss) for the period9904€2k€1k▼
Profit (loss) for the period to be appropriated9905€2k€1k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-149k€-148k▲
Profit (loss) brought forward from the previous period14P€-150k€-149k▲
Transfer to equity691/2-€411
To the legal reserve6920-€411
The notes to these accounts (14 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
2025
08-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
24-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
2023
27-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Weakest financial yearnet €-119k ▼5743%
Net result drops to €-119k, the lowest in the series; recovery starts the following year.
2022
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Highest result since 2019net €2k ▲340%
Operating result €5k, net result €2k, both a record.
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Back to profitnet €478
Net result €478 after one loss-making year.
2020
14-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
23-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
18-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
12-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
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.
14-07-2025
Hélène Helbig de Balzac: Resigned as Director
30-06-2021
Helbig de Balzac Clément: Resigned as Director
Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 1993
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.
Avenue des Aubépines 421301 WavreGround area
3,599 m²
Building footprint
190 m²
Volume, LiDAR
1,280 m³
Parcel 25006E0066/00T003, Wallonia · tallest building 22.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FOCUS RESEARCH
since 19932.061.436.872
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006E0066/00T003 | Wallonia | 3,599 m² | 1 · 190 m² | 22.4 m · 2 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 2,715 companies in sector 73200 we hold annual accounts for 1,785. 1,164 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-02-1993
Fiscal year end30-06
Activities, NACEBEL
73200Market research and public opinion polling
74131
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.