GAPBUSTERS
ActiveGAPBUSTERS has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-357k) and a net result of €-72k. Equity is shrinking by ~49.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 185 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
15
/ 100
Critical▲ +8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency33▼-1
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.41 against 0.52 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 59
Relative position
BE, all sectors
reference
Sector 59
lower
← fewer bankruptcies
more bankruptcies →
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
-96.6%
Return on assets
-19.4%
Age of the figures
8 mo
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 · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€357k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
61 d late
2023
61 d late
2022
85 d late
2021
32 d early
2020
44 d early
2019
122 d late
← 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-72k▲ 17.0%
2024 · €-87k
2018: €-85k
2019: €-80k
2020: €-58k
2021: €-152k
2022: €-165k
2023: €-61k
2024: €-87k
2018 → 2025
Working capital
€-431k▼ 9.9%
2024 · €-392k
2018: €238k
2019: €-399k
2020: €133k
2021: €-345k
2022: €-254k
2023: €-884k
2024: €-392k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.79M-€572k▼ 68.0%€233k▼ 59.4%€-236k€-357k▼ 51.4%
Operating result€-473k-€-1.51M▼ 220%€-336k▲ 77.7%€-541k▼ 60.9%€-118k▲ 78.3%
Net result€-152k-€-165k▼ 8.3%€-61k▲ 62.9%€-87k▼ 41.2%€-72k▲ 17.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €118k in 2025 against €541k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €369k
Fixed assets
€74k▼ 52.6%
Current assets
€295k▼ 31.8%
Key figures and ratios
EBITDA
€-69k▼
2024 · €14k
Cash flow
€-23k▼
2024 · €468k
Solvency
-96.6%▼
2024 · -40.0%
Current ratio
0.41▼
2024 · 0.52
Quick ratio
0.41▼
2024 · 0.52
Debt / equity
-2.04▲
2024 · -3.50
ROE
20.1%▼
2024 · 36.7%
ROA
-19.4%▼
2024 · -14.7%
Interest coverage
-18.98▼
2024 · 0.51
Debt
€726k▼
2024 · €825k
Debt ≤ 1 year
€726k▼
2024 · €825k
Staff costs
€5k▼
2024 · €32k
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€589k€369k▼
Fixed assets21/28€156k€74k▼
Intangible fixed assets21€156k€74k▼
Tangible fixed assets22/27€0-
Furniture and vehicles24€0-
Financial fixed assets28€185€185=
Current assets29/58€433k€295k▼
Amounts receivable within one year40/41€429k€294k▼
Trade receivables40€256k€127k▼
Other amounts receivable41€173k€168k▼
Cash at bank and in hand54/58€4k€734▼
Equity and liabilities
Total equity and liabilities10/49€589k€369k▼
Equity10/15€-236k€-357k▼
Contributions10/11€112k€112k=
Capital10€112k€112k=
Issued capital100€112k€112k=
Profit (loss) carried forward14€-777k€-849k▼
Investment grants15€430k€380k▼
Amounts payable17/49€825k€726k▼
Amounts payable within one year42/48€825k€726k▼
Financial debts43€126k€146k▲
Credit institutions430/8€126k€146k▲
Trade debts44€585k€448k▼
Suppliers440/4€585k€448k▼
Taxes, remuneration and social security45€85€18k▲
Taxes450/3-€18k
Remuneration and social security454/9€85€85=
Other amounts payable47/48€114k€114k=
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€32k€5k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€555k€49k▼
Other operating charges640/8€1k€220▼
Gross operating margin9900€47k€-63k▼
Operating profit (loss)9901€-541k€-118k▲
Financial income75/76B€482k€49k▼
Recurring financial income75€482k€49k▼
Financial charges65/66B€27k€4k▼
Recurring financial charges65€27k€4k▼
Profit (loss) for the period before taxes9903€-87k€-72k▲
Profit (loss) for the period9904€-87k€-72k▲
Profit (loss) for the period to be appropriated9905€-87k€-72k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-777k€-849k▼
Profit (loss) brought forward from the previous period14P€-690k€-777k▼
Social balance
Average headcount (FTE)90870.10.1=
The notes to these accounts (21 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 85 days late
2022
31-12
Financial
Weakest financial yearnet €-165k
Net result drops to €-165k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 122 days late
2019
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 121 days late
2018
04-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 4 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Liège · 1 establishment unit since 2015
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.
Rue de Mulhouse 364020 LiègeGround area
1.3 ha
Building footprint
4,913 m²
Volume, LiDAR
40,305 m³
Parcel 62817B0418/00G002, Wallonia · tallest building 16.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Gapbusters
since 20152.241.211.229
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62817B0418/00G002 | Wallonia | 1.3 ha | 1 · 4,913 m² | 16.3 m · 3 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.
Public money · subsidies and aid
Wallonia-Brussels Federation
2021 to 2024 · 13 entries · 253,500 EUR in total| Year | Entries | paid |
|---|---|---|
| 2024 | 2 | 23,600 EUR |
| 2023 | 3 | 27,000 EUR |
| 2022 | 6 | 168,900 EUR |
| 2021 | 2 | 34,000 EUR |
Budget allocations
Aide à la création - relance de la production indépendante avec la RTBF
Commission du Cinéma - Aide aux projets
Similar companies · same sector, comparable size
HET HUIS
BE 0438.728.327
Leuven · Eq €234k
BOZO FILM COMPANY
BE 0472.109.886
Rotselaar · Eq €231k
RADIO & CO - COBRA RADIO BREWERY
BE 0899.664.013
Brussel · Eq €235k
PUKKA
BE 0872.090.376
Brussel · Eq €229k
FOCUS LIVE
BE 0842.156.572
Sint-Gillis (bij-Brussel) · Eq €236k
Of 1,321 companies in sector 59111 we hold annual accounts for 684. 429 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-03-2015
Fiscal year end31-12
Activities, NACEBEL
59111Production of cinema films
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.