HALF THE SKY
ActiveThe annual accounts of HALF THE SKY for fiscal year 2025 show a net loss of 359% of the equity at the start of that year. The 2025 annual accounts show equity of €2k and a net result of €-11k. Equity is shrinking by ~21.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 26% of 18039 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency30▼-5
Growth55▲+9
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.47 against 1.1 in 2024; short-term debt: 67.7% and cash: 50.5% of total assets), and 94.6% of the assets are financed with debt.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
5.4%
Return on assets
-29.1%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-11k
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 16-07-2026, 15 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
15 d early
2024
8 d early
2023
7 d early
2022
12 d early
2021
27 d early
2020
107 d early
2019
61 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€20k▲ 133%
2024 · €9k
2018: €4k
2019: €9k
2020: €2k
2021: €1k
2022: €2k
2023: €3k
2024: €9k
2018 → 2025
EBIT margin
-54.4%▲ 106.7pp
2024 · -161.1%
2018: -79.2%
2019: 32.3%
2020: -164.2%
2021: -286.5%
2022: -387.8%
2023: -513.8%
2024: -161.1%
2018 → 2025
Net result
€-11k▲ 22.1%
2024 · €-14k
2018: €-4k
2019: €2k
2020: €-4k
2021: €-4k
2022: €-8k
2023: €-14k
2024: €-14k
2018 → 2025
Working capital
€12k▲ 368%
2024 · €3k
2018: €42k
2019: €46k
2020: €43k
2021: €39k
2022: €31k
2023: €17k
2024: €3k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1k-€2k▲ 49.7%€3k▲ 42.9%€9k▲ 223%€20k▲ 133%
Equity€40k-€32k▼ 20.2%€17k▼ 45.6%€3k▼ 82.2%€2k▼ 33.5%
Operating result€-4k-€-7k▼ 103%€-14k▼ 89.4%€-14k▼ 1.2%€-11k▲ 21.2%
Net result€-4k-€-8k▼ 85.8%€-14k▼ 80.4%€-14k▲ 1.9%€-11k▲ 22.1%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11k in 2025 against €14k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €38k
Fixed assets
€100▼ 78.8%
Current assets
€38k▲ 30.1%
Equity and liabilities €38k
Equity
€2k▼ 33.5%
Debt
€36k▲ 35.6%
The debt ratio rises from 89.6% to 94.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-10k
Cash flow
€-11k
Solvency
5.4%▼
2024 · 10.4%
Current ratio
1.47▲
2024 · 1.10
Quick ratio
0.78▲
2024 · 0.20
Debt / equity
17.60▲
2024 · 8.63
ROE
-540.6%▼
2024 · -461.1%
ROA
-29.1%▲
2024 · -47.9%
Interest coverage
-56.41
Debt
€36k▲
2024 · €26k
Debt ≤ 1 year
€26k▼
2024 · €26k
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€30k€38k▲
Fixed assets21/28€471€100▼
Tangible fixed assets22/27€371-
Furniture and vehicles24€371-
Financial fixed assets28€100€100=
Current assets29/58€29k€38k▲
Stocks and contracts in progress3€24k€18k▼
Stocks30/36€24k€18k▼
Amounts receivable within one year40/41€1k€796▼
Trade receivables40€626€796▲
Other amounts receivable41€395-
Cash at bank and in hand54/58€4k€19k▲
Equity and liabilities
Total equity and liabilities10/49€30k€38k▲
Equity10/15€3k€2k▼
Contributions10/11€50k€60k▲
Profit (loss) carried forward14€-47k€-58k▼
Amounts payable17/49€26k€36k▲
Amounts payable within one year42/48€26k€26k▼
Trade debts44€8k€5k▼
Suppliers440/4€8k€5k▼
Taxes, remuneration and social security45-€3k
Taxes450/3-€3k
Other amounts payable47/48€19k€18k▼
Accrued charges and deferred income492/3-€10k
Income statement
Code20242025
Turnover70€9k€20k▲
Goods, raw materials, services and sundry goods60/61€22k€30k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€371
Gross operating margin9900€-14k€-10k▲
Operating profit (loss)9901€-14k€-11k▲
Financial charges65/66B€398€186▼
Recurring financial charges65€398€186▼
Profit (loss) for the period before taxes9903€-14k€-11k▲
Profit (loss) for the period9904€-14k€-11k▲
Profit (loss) for the period to be appropriated9905€-14k€-11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-47k€-58k▼
Profit (loss) brought forward from the previous period14P€-33k€-47k▼
The notes to these accounts (7 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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 27.28
Current ratio from 10.91 to 27.28; short-term debt falls from €5k to €2k.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Liège · 1 establishment unit since 2018
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 Chéri 40B4000 LiègeGround area
1,603 m²
Building footprint
274 m²
Volume, LiDAR
3,539 m³
2 parcels, Wallonia · tallest building 19.6 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
HALF THE SKY
since 20182.275.506.370
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62810B0812/00M002 | Wallonia | 1,399 m² | 1 · 205 m² | 19.6 m · 6 fl. |
| 62802B0180/00S002 | Wallonia | 204 m² | 1 · 69 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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FIDELLE
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Of 6,501 companies in sector 47716 we hold annual accounts for 2,440. 541 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded23-03-2018
Fiscal year end31-12
Activities, NACEBEL
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47820Market retail: textiles, clothing, footwear
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.