Summary
Conclusion
the dossier summarised in one paragraphThe file of FRESH START contains 1 historical bankruptcy publication, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 2.3% (moderate). The 2023 annual accounts show negative equity (€-51k) and a net result of €-3k. Equity is shrinking by ~18.8% per year across the filed fiscal years.
Based on the State Gazette, CBE and 5 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneStatistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Insolvency timeline
1 eventSignals
1 signal · with evidenceSignals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wide| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 30-11-2025 | 30-06-2026 | nothing on record | not filed | - |
| 30-11-2024 | 30-06-2025 | nothing on record | not filed | - |
| 30-11-2023 | 30-06-2024 | 23-05-2025 | 327 d late | 2025-00105403 |
| 30-11-2022 | 30-06-2023 | 11-07-2023 | 11 d late | 2023-00238398 |
| 30-11-2021 | 30-06-2022 | 31-05-2022 | 30 d early | 2022-20049713 |
| 30-11-2019 | 30-06-2020 | 28-04-2020 | 63 d early | 2020-10200473 |
| 30-11-2018 | 30-06-2019 | 28-05-2019 | 33 d early | 2019-15000508 |
| 31-12-2016 | 31-07-2017 | 22-06-2017 | 39 d early | 2017-20200419 |
| 31-12-2015 | 31-07-2016 | 13-05-2016 | 79 d early | 2016-12700108 |
| 31-12-2014 | 31-07-2015 | 30-06-2015 | 31 d early | 2015-27600474 |
| 31-12-2013 | 31-07-2014 | 20-06-2014 | 41 d early | 2014-20600093 |
| 31-12-2012 | 31-07-2013 | 19-06-2013 | 42 d early | 2013-19800375 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
1 signalAdministrative Flags
Financials
Annual accounts & ratios
Source: NBB · 2023How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Show 8 other metrics
| Fiscal year | 2023 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | - |
| Net profit | €-3k |
| Cash flow | - |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €28k |
| Equity | €-51k |
| Debt | €79k |
| of which ≤ 1y | €79k |
| of which > 1y | - |
| Working capital | €-51k |
| Employees (FTE) | - |
| 2023 | |
|---|---|
| Current ratio | 0.35 |
| Quick ratio | 0.35 |
| Working capital ratio | -183.4% |
| Solvency | -183.4% |
| Debt / equity | -1.55 |
| Long-term debt ratio | - |
| Interest coverage | - |
| Gross margin | - |
| Net margin | - |
| ROA | -12.5% |
| ROE | 6.8% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (18 line items)
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €28k |
| Current assets | 29/58 | €28k |
| Cash & bank | 54/58 | €27k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €28k |
| Equity | 10/15 | €-51k |
| Contributions / capital | 10/11 | €6k |
| Reserves | 13 | €22k |
| Accumulated profits (losses) | 14 | €-79k |
| Amounts payable | 17/49 | €79k |
| Amounts payable within one year | 42/48 | €79k |
| Trade debts payable within one year | 44 | €9k |
| Income statement | ||
| Gross operating margin | 9900 | €-3k |
| Operating result | 9901 | €-3k |
| Financial income | 75 | €0 |
| Financial charges | 65 | €643 |
| Result before taxes | 9903 | €-3k |
| Net result for the period | 9904 | €-3k |
| Result to be appropriated | 9905 | €-3k |
Health barometer
FY 2023 · computedThe full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Locations & real estate
Registered office
on the map · from the address registerReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44803C0134/00R000 | Flanders | 456 m² | 1 · 259 m² | 16.3 m · 4 fl. |
Publications
Lifecycle & Insolvency Signals
1 event from the State GazetteTime machine: BS events + macro context
2020-2026Belgian State Gazette · acts
0 of 5 acts readWe know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.
Analysis
Financial profile
5 of 5 axes measuredFragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Credit advice
verdict per customer and amountCompany registry
Company registry (CBE)
Crossroads Bank| Legal nameNL | FRESH START |