HEADBOX
ActiveSummary
HEADBOX has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€515) and a net result of €53,038. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 7071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency24▲+24
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.89 against 0.44 in 2024; short-term debt: 100.6% and cash: 17.6% of total assets), and equity is negative.
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Signals
Four 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
-0.7%
Return on assets
67.2%
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 14% of 7071 sector peers (2025).
NBB · sector comparisonPosition among 7071 sector peers
Solvency
better than 14%
← weakest
strongest →
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
47 d early
2023
34 d late
2022
71 d late
2021
92 d late
2020
209 d late
2019
574 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 126 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€515▲ 99.0%
2024 · -€53,553
Total assets
€78,874▲ 75.3%
2024 · €44,982
Net result
€53,038▲ 224%
2024 · €16,346
Working capital
-€8,846▲ 84.0%
2024 · -€55,342
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€14,778▼ 440%-€11,395▲ 22.9%-€58,457▼ 413%€18,573€63,409▲ 241%
Net result-€15,472▼ 277%-€7,909▲ 48.9%-€58,390▼ 638%€16,346€53,038▲ 224%
Equity-€3,600-€11,509▼ 220%-€69,899▼ 507%-€53,553▲ 23.4%-€515▲ 99.0%
Total assets€143,498▲ 15.0%€142,869▼ 0.4%€15,994▼ 88.8%€44,982▲ 181%€78,874▲ 75.3%
Debt€147,098▲ 30.2%€154,379▲ 4.9%€85,893▼ 44.4%€98,535▲ 14.7%€79,389▼ 19.4%
Working capital-€73,778▼ 25.8%-€85,286▼ 15.6%-€73,360▲ 14.0%-€55,342▲ 24.6%-€8,846▲ 84.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 241% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €78,874
Fixed assets
€8,404 ▲ 357%
Current assets
€70,470 ▲ 63.3%
Key figures and ratios
EBITDA
€65,593▲
2024 · €20,197
Cash flow
€55,221▲
2024 · €17,970
Solvency
-0.7%▲
2024 · -119.1%
Current ratio
0.89▲
2024 · 0.44
ROA
67.2%▲
2024 · 36.3%
Interest coverage
65.51▲
2024 · 8.89
Debt ≤ 1 year
€79,316▼
2024 · €98,486
Income taxes
€9,385▲
2024 · €271
Equity ratios withheld: equity of -€515 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €338 | - | €1,284 | €1,624 | €2,184 | ▲ 34.5% |
| Other operating charges640/8 | €515 | - | €3,616 | €463 | €29,189 | ▲ 6,204% |
| Non-recurring operating charges66A | - | - | €1,604 | €878 | - | - |
| Gross operating margin9900 | -€13,925 | -€11,395 | -€51,954 | €21,538 | €94,782 | ▲ 340% |
| Operating profit (loss)9901 | -€14,778 | -€11,395 | -€58,457 | €18,573 | €63,409 | ▲ 241% |
| Financial income75/76B | €329 | €3,684 | - | €316 | €15 | ▼ 95.4% |
| Recurring financial income75 | €329 | €3,684 | - | €316 | €15 | ▼ 95.4% |
| Financial charges65/66B | €877 | €198 | €447 | €2,272 | €1,001 | ▼ 55.9% |
| Recurring financial charges65 | €877 | €198 | €447 | €2,272 | €1,001 | ▼ 55.9% |
| Profit (loss) for the period before taxes9903 | -€15,326 | -€7,909 | -€58,904 | €16,617 | €62,422 | ▲ 276% |
| Income taxes67/77 | €146 | - | -€515 | €271 | €9,385 | ▲ 3,362% |
| Profit (loss) for the period9904 | -€15,472 | -€7,909 | -€58,390 | €16,346 | €53,038 | ▲ 224% |
| Profit (loss) for the period to be appropriated9905 | -€15,472 | -€7,909 | -€58,390 | €16,346 | €53,038 | ▲ 224% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €143,498 | €142,869 | €15,994 | €44,982 | €78,874 | ▲ 75.3% |
| Fixed assets21/28 | €70,178 | €73,777 | €3,462 | €1,838 | €8,404 | ▲ 357% |
| Tangible fixed assets22/27 | €70,178 | €73,777 | €3,462 | €1,838 | €8,404 | ▲ 357% |
| Furniture and vehicles24 | €175 | €1,761 | €2,254 | €1,033 | €8,002 | ▲ 675% |
| Other tangible fixed assets26 | €3 | €2,016 | €1,208 | €805 | €403 | ▼ 50.0% |
| Assets under construction and advance payments27 | €70,000 | €70,000 | - | - | - | - |
| Current assets29/58 | €73,320 | €69,092 | €12,532 | €43,144 | €70,470 | ▲ 63.3% |
| Stocks and contracts in progress3 | €3,000 | - | - | - | - | - |
| Stocks30/36 | €3,000 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €69,263 | €67,336 | €12,532 | €25,901 | €55,877 | ▲ 116% |
| Trade receivables40 | €9,802 | €12,222 | €2,532 | €15,901 | €46,384 | ▲ 192% |
| Other amounts receivable41 | €59,461 | €55,114 | €10,000 | €10,000 | €9,493 | ▼ 5.1% |
| Cash at bank and in hand54/58 | €558 | €1,256 | - | €11,776 | €13,865 | ▲ 17.7% |
| Deferred charges and accrued income490/1 | €500 | €500 | - | €5,467 | €728 | ▼ 86.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €143,498 | €142,869 | €15,994 | €44,982 | €78,874 | ▲ 75.3% |
| Equity10/15 | -€3,600 | -€11,509 | -€69,899 | -€53,553 | -€515 | ▲ 99.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | - | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Other1319 | - | - | €1,860 | - | - | - |
| Profit (loss) carried forward14 | -€24,060 | -€31,969 | -€90,359 | -€72,153 | -€19,115 | ▲ 73.5% |
| Amounts payable17/49 | €147,098 | €154,379 | €85,893 | €98,535 | €79,389 | ▼ 19.4% |
| Amounts payable within one year42/48 | €147,098 | €154,379 | €85,893 | €98,486 | €79,316 | ▼ 19.5% |
| Financial debts43 | - | - | €1,944 | €3,123 | €1,309 | ▼ 58.1% |
| Credit institutions430/8 | - | - | €1,944 | €3,123 | €1,309 | ▼ 58.1% |
| Trade debts44 | €6,993 | €15,345 | €12,468 | €42,572 | €43,541 | ▲ 2.3% |
| Suppliers440/4 | €6,993 | €15,345 | €12,468 | €42,572 | €43,541 | ▲ 2.3% |
| Advances received on contracts in progress46 | €73,327 | €73,327 | - | - | - | - |
| Taxes, remuneration and social security45 | €1,778 | €706 | €2,285 | €2,684 | €26,297 | ▲ 880% |
| Taxes450/3 | €1,778 | €706 | €2,285 | €2,684 | €26,297 | ▲ 880% |
| Other amounts payable47/48 | €65,000 | €65,000 | €69,196 | €50,108 | €8,169 | ▼ 83.7% |
| Accrued charges and deferred income492/3 | - | - | - | €49 | €73 | ▲ 50.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,472 | -€7,909 | -€58,390 | €16,346 | €53,038 | ▲ 224% |
| + Depreciation and write-downs630 | €338 | - | €1,284 | €1,624 | €2,184 | ▲ 34.5% |
| Operating cash flow (approximation) | -€15,134 | -€7,909 | -€57,105 | €17,970 | €55,221 | ▲ 207% |
| Investment in fixed assets (approximation) | - | -€3,599 | €69,031 | €0 | -€8,750 | - |
| Change in cash | - | €699 | - | - | €2,089 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €53,038 ▲224%
Operating result €63,409, net result €53,038, both a record.
14-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €16,346
Net result €16,346 after 4 loss-making years.
03-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 34 days late
2023
31-12
Financial
Weakest financial yearnet -€58,390
Net result drops to -€58,390, the lowest in the series; recovery starts the following year.
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 71 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 209 days late
25-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 574 days late
2019
12-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 73 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Zaventem · 1 establishment unit since 2004
Ground area
1.0 ha
Building footprint
1,857 m²
Volume, LiDAR
60,495 m³
2 parcels, Flanders · tallest building 45.7 m, ±14 floors. Linked by address, not a title deed.
214
companies at this address
See who is registered here
1 establishment unit
HEADBOX
since 20042.139.318.469
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094D0111/00M002 | Flanders | 8,965 m² | 1 · 1,730 m² | 45.7 m · 14 fl. |
| 23066A0143/00Y003 | Flanders | 1,099 m² | 1 · 127 m² | - |
Linked by address, not proof of ownership
Good to know
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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Of 9,864 companies in sector 73110 we hold annual accounts for 3,752. 2,216 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded11-08-2004
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.