HEADD
ActiveHEADD has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5k and a net result of €3k. Equity is shrinking by ~33.5% per year across the filed fiscal years. Its solvency ranks better than 17% of 1973 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+12
Solvency27▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Seven 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 90
Relative position
BE, all sectors
reference
Sector 90
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
1.5%
Return on assets
0.8%
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 17% of 1973 sector peers (2025).
NBB · sector comparisonPosition among 1973 sector peers
Solvency
better than 17%
← 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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
14 d early
2023
22 d early
2022
24 d early
2021
17 d early
2020
19 d early
2019
3 d early
← 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
Equity
€5k▲ 112%
2024 · €2k
2018: €47k
2019: €61k
2020: €41k
2021: €43k
2022: €3k
2023: €15k
2024: €2k
2018 → 2025
Total assets
€319k▼ 7.2%
2024 · €343k
2018: €267k
2019: €293k
2020: €478k
2021: €448k
2022: €420k
2023: €392k
2024: €343k
2018 → 2025
Net result
€3k
2024 · €-13k
2018: €5k
2019: €14k
2020: €-20k
2021: €2k
2022: €-40k
2023: €12k
2024: €-13k
2018 → 2025
Working capital
€-167k▲ 10.1%
2024 · €-186k
2018: €-83k
2019: €-95k
2020: €-218k
2021: €-207k
2022: €-194k
2023: €-178k
2024: €-186k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€43k-€3k▼ 93.0%€15k▲ 389%€2k▼ 84.7%€5k▲ 112%
Operating result€5k-€-37k€16k€-8k€6k
Net result€2k-€-40k€12k€-13k€3k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6k after a loss of €8k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €319k
Fixed assets
€304k▼ 9.0%
Current assets
€15k▲ 52.7%
Equity and liabilities €319k
Equity
€5k▲ 112%
Debt
€314k▼ 8.0%
The debt ratio falls from 99.3% to 98.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€36k▲
2024 · €22k
Cash flow
€33k▲
2024 · €18k
Solvency
1.5%▲
2024 · 0.7%
Current ratio
0.08▲
2024 · 0.05
Quick ratio
0.05▲
2024 · 0.03
Debt / equity
65.45
ROE
52.7%▲
2024 · -555.6%
ROA
0.8%▲
2024 · -3.7%
Interest coverage
9.39▲
2024 · 5.29
Debt
€314k▼
2024 · €341k
Debt ≤ 1 year
€182k▼
2024 · €196k
Debt > 1 year
€131k▼
2024 · €145k
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€343k€319k▼
Fixed assets21/28€334k€304k▼
Tangible fixed assets22/27€334k€304k▼
Land and buildings22€334k€304k▼
Current assets29/58€10k€15k▲
Stocks and contracts in progress3€3k€5k▲
Stocks30/36€3k€5k▲
Amounts receivable within one year40/41€5k€3k▼
Trade receivables40€3k€2k▼
Other amounts receivable41€3k€1k▼
Cash at bank and in hand54/58€1k€7k▲
Equity and liabilities
Total equity and liabilities10/49€343k€319k▼
Equity10/15€2k€5k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-16k€-14k▲
Amounts payable17/49€341k€314k▼
Amounts payable after more than one year17€145k€131k▼
Financial debts170/4€145k€131k▼
Amounts payable within one year42/48€196k€182k▼
Current portion of amounts payable after more than one year42€25k€28k▲
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€2k€2k▼
Taxes450/3€120-
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€167k€149k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€30k▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€23k€39k▲
Operating profit (loss)9901€-8k€6k▲
Financial income75/76B€2€28▲
Recurring financial income75€2€28▲
Financial charges65/66B€4k€4k▼
Recurring financial charges65€4k€4k▼
Profit (loss) for the period before taxes9903€-13k€3k▲
Profit (loss) for the period9904€-13k€3k▲
Profit (loss) for the period to be appropriated9905€-13k€3k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-16k€-14k▲
Profit (loss) brought forward from the previous period14P€-4k€-16k▼
The notes to these accounts (9 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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-40k ▼2161%
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €14k ▲192%
Operating result €24k, net result €14k, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Antwerpen · 1 establishment unit since 1999
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.
Kleinebeerstraat 392018 AntwerpenGround area
150 m²
Building footprint
90 m²
Volume, LiDAR
992 m³
Parcel 11806F1263/00W002, Flanders · tallest building 16.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
HEADD
since 19992.093.007.996
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11806F1263/00W002 | Flanders | 150 m² | 1 · 90 m² | 16.7 m · 4 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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ANDREI LUGOVSKI MUSIC
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Of 8,304 companies in sector 90201 we hold annual accounts for 601. 249 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-09-1999
Fiscal year end31-12
Activities, NACEBEL
90201Performing arts by independent artists
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 26 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.