HEXORAY

Active

Private limited companyfounded 20196 yrs activeElizastraat 43, 1050 Elsene, BelgiumKBO/BCE: BE 0738.694.689

The computed 12-month bankruptcy probability of HEXORAY is 4.8% (elevated). The 2025 annual accounts show negative equity (€-19k) and a net result of €-24k. Equity is shrinking by ~59.8% per year across the filed fiscal years. Its solvency ranks better than 8% of 10345 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

Watch Print / PDF

Checked score

Score 2025

13 / 100

Critical

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0=

Solvency0▼-31

Growth32=

Track record100

Bankruptcy probability, 12 months

4.8% Elevated

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.57 against 0.66 in 2024; short-term debt: 133.5% and cash: 0% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 2025

Solvency, return and age of the figures

Solvency

-33.5%

Return on assets

-41.1%

Age of the figures

9 mo

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 →

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

202122232425

2020 to 2025 · latest year €-19k

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 · 6 filings

Deviation from the deadline

2025

31 d late

2024

50 d late

2023

13 d late

2022

32 d early

2021

31 d early

2020

1 d early

← before the deadline after the deadline →

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 months

Position in the running window

22-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-24k▲ 12.4%

2024 · €-27k

2020: €-17k 2021: €-28k 2022: €-34k 2023: €-45k 2024: €-27k

2020 → 2025

Working capital

€-33k▼ 32.8%

2024 · €-25k

2020: €91k 2021: €61k 2022: €10k 2023: €-18k 2024: €-25k

2020 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€110k-€76k▼ 30.5%€32k▼ 58.5%€4k▼ 86.0%€-19k

Operating result€-28k-€-33k▼ 17.0%€-44k▼ 34.6%€-27k▲ 38.8%€-24k▲ 12.3%

Net result€-28k-€-34k▼ 18.0%€-45k▼ 33.1%€-27k▲ 38.9%€-24k▲ 12.4%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €24k in 2025 against €27k in 2024; the loss shrinks.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €58k

24.2%

75.8%

Fixed assets €14k▼ 52.7%

Current assets €44k▼ 11.1%

Key figures and ratios

2025 value · change against 2024

EBITDA

€-8k▼

2024 · €-7k

Cash flow

€-8k▼

2024 · €-7k

Solvency

-33.5%▼

2024 · 5.6%

Current ratio

0.57▼

2024 · 0.66

Quick ratio

0.05▼

2024 · 0.12

Debt / equity

-3.99▼

2024 · 16.82

ROA

-41.1%▼

2024 · -34.4%

Interest coverage

-140.82▼

2024 · -65.31

Debt

€77k▲

2024 · €75k

Debt ≤ 1 year

€77k▲

2024 · €75k

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€79k€58k▼

Fixed assets21/28€30k€14k▼

Intangible fixed assets21€27k€14k▼

Tangible fixed assets22/27€2k€440▼

Plant, machinery and equipment23€2k€440▼

Current assets29/58€49k€44k▼

Stocks and contracts in progress3€40k€40k=

Stocks30/36€40k€40k=

Amounts receivable within one year40/41€9k€3k▼

Other amounts receivable41€9k€3k▼

Cash at bank and in hand54/58€120€29▼

Equity and liabilities

Total equity and liabilities10/49€79k€58k▼

Equity10/15€4k€-19k▼

Contributions10/11€155k€155k=

Profit (loss) carried forward14€-151k€-174k▼

Amounts payable17/49€75k€77k▲

Amounts payable within one year42/48€75k€77k▲

Trade debts44€1k€3k▲

Suppliers440/4€1k€3k▲

Other amounts payable47/48€73k€75k▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€16k▼

Other operating charges640/8-€787

Gross operating margin9900€-7k€-7k▼

Operating profit (loss)9901€-27k€-24k▲

Financial charges65/66B€111€58▼

Recurring financial charges65€111€58▼

Profit (loss) for the period before taxes9903€-27k€-24k▲

Profit (loss) for the period9904€-27k€-24k▲

Profit (loss) for the period to be appropriated9905€-27k€-24k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-151k€-174k▼

Profit (loss) brought forward from the previous period14P€-123k€-151k▼

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 8Financial 1Gazette 1Filings 6

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 31 days late

26-08

State Gazette act Registered office

Board meeting · Registered-office move2 facts ▸

Board meeting, 2026-05-19
Registered-office move, Rue Elise 1050 Ixelles

2025

19-09

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 50 days late

2024

13-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 13 days late

2023

31-12

Financial Weakest financial yearnet €-45k

Net result drops to €-45k, the lowest in the series; recovery starts the following year.

29-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

5 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Elsene · 1 establishment unit since 2019

establishment The establishment unit on the map

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.

Elizastraat 431050 Elsene

Ground area

303 m²

Building footprint

115 m²

Volume, LiDAR

1,514 m³

Parcel 21445C0234/00W028, Brussels · tallest building 18.9 m, ±5 floors. Linked by address, not a title deed.

1 establishment unit

HEXORAY

Elizastraat 43, 1050 ElseneOther manufacturing

since 20192.297.381.454

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21445C0234/00W028	Brussels	303 m²	1 · 115 m²	18.9 m · 5 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.

Similar companies · same sector, comparable size

Saint-Nicolas · Eq €4k

Sint-Jans-Molenbeek · Eq €5k

AQUAPOOL DESIGN

BE 1015.482.310

Thuin · Eq €4k

Of 1,314 companies in sector 47639 we hold annual accounts for 624. 181 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded03-12-2019

Fiscal year end31-12

Activities, NACEBEL

47639Retail sale of other sporting goods

47640Retail trade

Sources

Crossroads Bank for EnterprisesNational Bank · 6 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.