HARMATTAN
ActiveHARMATTAN has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €364k and a net result of €263k. Equity is shrinking by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 20% of 3186 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+42
Solvency43▲+9
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.76 against 1.34 in 2024; short-term debt: 10% and cash: 0.9% of total assets), but 82.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Ten 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 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.8%
Return on assets
12.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 3186 sector peers (2025).
NBB · sector comparisonPosition among 3186 sector peers
Solvency
better than 20%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €364k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 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
3 d late
2024
29 d late
2023
1 d early
2022
on the day
2021
61 d late
2020
12 d late
2019
52 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
23-09-2026 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
€263k▲ 2,989%
2024 · €9k
2018: €46k
2019: €28k
2020: €46k
2021: €31k
2022: €24k
2023: €39k
2024: €9k
2018 → 2025
Working capital
€360k▲ 391%
2024 · €73k
2018: €339k
2019: €324k
2020: €286k
2021: €261k
2022: €228k
2023: €134k
2024: €73k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€227k-€211k▼ 7.0%€192k▼ 9.0%€176k▼ 8.6%€364k▲ 107%
Operating result€35k-€24k▼ 30.9%€45k▲ 85.7%€20k▼ 56.6%€373k▲ 1,807%
Net result€31k-€24k▼ 23.2%€39k▲ 60.4%€9k▼ 77.9%€263k▲ 2,989%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,807% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.05M
Fixed assets
€1.48M▼ 10.6%
Current assets
€565k▲ 96.3%
Equity and liabilities €2.05M
Equity
€364k▲ 107%
Provisions
€130k▲ 92.3%
Debt
€1.55M▼ 8.7%
The debt ratio falls from 87.5% to 75.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€465k▲
2024 · €82k
Cash flow
€355k▲
2024 · €71k
Solvency
17.8%▲
2024 · 9.0%
Current ratio
2.76▲
2024 · 1.34
Quick ratio
2.76▲
2024 · 1.34
Debt / equity
4.27▼
2024 · 9.69
ROE
72.3%▲
2024 · 4.8%
ROA
12.9%▲
2024 · 0.4%
Interest coverage
7.63▲
2024 · 2.82
Debt
€1.55M▼
2024 · €1.70M
Debt ≤ 1 year
€204k▼
2024 · €214k
Debt > 1 year
€1.35M▼
2024 · €1.49M
Income taxes
€703▼
2024 · €941
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€1.95M€2.05M▲
Fixed assets21/28€1.66M€1.48M▼
Tangible fixed assets22/27€1.66M€1.48M▼
Land and buildings22€1.66M€1.48M▼
Current assets29/58€288k€565k▲
Amounts receivable within one year40/41€247k€513k▲
Trade receivables40€6k€7k▲
Other amounts receivable41€241k€506k▲
Current investments50/53€2€30k▲
Cash at bank and in hand54/58€37k€19k▼
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€1.95M€2.05M▲
Equity10/15€176k€364k▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€104k€290k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€97k€284k▲
Profit (loss) carried forward14€10k€12k▲
Provisions and deferred taxes16€67k€130k▲
Deferred taxes168€67k€130k▲
Amounts payable17/49€1.70M€1.55M▼
Amounts payable after more than one year17€1.49M€1.35M▼
Financial debts170/4€1.49M€1.35M▼
Amounts payable within one year42/48€214k€204k▼
Current portion of amounts payable after more than one year42€98k€93k▼
Trade debts44€688€401▼
Suppliers440/4€688€401▼
Taxes, remuneration and social security45€919€661▼
Taxes450/3€919€661▼
Other amounts payable47/48€115k€110k▼
Income statement
Code20242025
Non-recurring operating income76A-€284k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€92k▲
Other operating charges640/8€69k€16k▼
Gross operating margin9900€151k€481k▲
Operating profit (loss)9901€20k€373k▲
Financial income75/76B€13k€14k▲
Recurring financial income75€13k€14k▲
Financial charges65/66B€29k€61k▲
Recurring financial charges65€29k€61k▲
Profit (loss) for the period before taxes9903€3k€326k▲
Transfer from deferred taxes780€6k€9k▲
Transfer to deferred taxes680-€71k
Income taxes67/77€941€703▼
Profit (loss) for the period9904€9k€263k▲
Transfer from tax-exempt reserves789€19k€26k▲
Transfer to tax-exempt reserves689-€213k
Profit (loss) for the period to be appropriated9905€28k€77k▲
Appropriation of the result
Profit (loss) to be appropriated9906€35k€87k▲
Profit (loss) brought forward from the previous period14P€7k€10k▲
Profit to be distributed694/7€25k€75k▲
Directors or managers695€25k€75k▲
Social balance
Average headcount (FTE)9087-0.0
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
2026
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 3 days late
2025
31-12
Financial
Highest result since 2018net €263k ▲2989%
Operating result €373k, net result €263k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.76
Current ratio from 1.34 to 2.76; short-term debt falls from €214k to €204k.
31-12
Financial
Equity above €200kEq €364k ▲107%
8 profitable years in a row build equity to €364k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €9k ▼77.9%
Net result drops to €9k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 12 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 52 days late
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-07
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
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, Ukkel · 1 establishment unit since 1990
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.
Fort-Jacolaan 761180 UkkelGround area
1,474 m²
Building footprint
325 m²
Volume, LiDAR
1,618 m³
Parcel 21614H0010/00K040, Brussels · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Dr du Triage Bruyère 7, 1420 Braine-l'Alleud
since 19902.032.319.947
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0010/00K040 | Brussels | 1,474 m² | 1 · 325 m² | 7.7 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 82,569 companies in sector 70200 we hold annual accounts for 52,577. 36,958 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded26-11-1987
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.