Active BE 0737.515.645Private limited company

HOME START-UP

Rue Dieudonné-Defrance 54 ·4020 Liège, Belgium· 6 yrs active

Sector: Buying and selling of own real estate (68110)

Conclusion Checked

HOME START-UP has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-29k) and a net result of €-17k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 13655 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€-29k
Net result	€-17k
Better than sector	14%
Active	6 yrs

Financial profile 5 of 5 axes measured · computed by Checked

58 / 100

Mixed profile: strong on profitability, weaker on health.

All 5 axes are computed from data Checked has read.

Health 15

Profitability 100

Solvency 42

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

1.0% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2019, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

15 / 100 Critical

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

No credit

negative equity or figures too weak

Score history

40 2020

71 2021

58 2023

7 2024

15 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.90 (< 1.0) -10

Quick ratio Quick ratio 0.05 (< 0.6) -5

Equity Negative equity -25

Profitability ROE 59% (≥ 10%) +10

Interest coverage Interest coverage 1.1× (< 1.5×) -10

Profit trend Net profit up YoY +5

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview5 NBB filings

Annual accounts filed on 30-08-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Sector comparison

Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-8.7%	29.8%	better than 14% of 13655 sector peers
Net result	€-17k	€6k	better than 18% of 13656 sector peers
Equity	€-29k	€78k	better than 13% of 13671 sector peers
Gross operating margin	€27k	€41k	better than 41% of 13639 sector peers
Total assets	€329k	€416k	better than 44% of 13659 sector peers

EBITDA

€23k

- 20-25

Net profit

€-17k

+76.4% 20-25

Cash flow

€-11k

+83.3% 20-25

Total assets

€329k

-40.5% 20-25

Equity

€-29k

-141.7% 20-25

Working capital

€-35k

-798.6% 20-25

Income taxes

€13k

+226.9% 20-25

Debt

€358k

-36.6% 20-25

Debt ≤ 1y

€358k

-34.3% 20-25

Current ratio

0.90

-9.1% 20-25

Quick ratio

0.05

+108.1% 20-25

Solvency

-8.7%

-306.1% 20-25

Debt / equity

-12.45

+73.8% 20-25

ROE

58.6%

-90.2% 20-25

ROA

-5.1%

+60.4% 20-25

Interest coverage

1.09

- 20-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2021	2020
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€23k	€-41k	€87k	€41k	-
Net profit	€-17k	€-71k	€42k	€34k	€-4k
Cash flow	€-11k	€-64k	€50k	€34k	-
Staff costs	-	-	-	-	-
Income taxes	€13k	-	€4k	€8k	-
Dividends	-	-	-	-	-
Total assets	€329k	€552k	€571k	€260k	€138k
Equity	€-29k	€-12k	€60k	€60k	€26k
Debt	€358k	€564k	€512k	€200k	€111k
of which ≤ 1y	€358k	€544k	€489k	€199k	€111k
of which > 1y	-	-	-	-	-
Working capital	€-35k	€-4k	€62k	€30k	€26k
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2021	2020
Current ratio	0.90	0.99	1.13	1.15	1.24
Quick ratio	0.05	0.02	0.11	0.82	0.38
Working capital ratio	-10.6%	-0.7%	10.8%	11.4%	19.2%
Solvency	-8.7%	-2.2%	10.4%	23.2%	19.2%
Debt / equity	-12.45	-47.50	8.59	3.31	-
Long-term debt ratio	-	-	-	-	-
Interest coverage	1.09	-1.76	2.59	386.09	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	-5.1%	-12.9%	7.3%	13.0%	-2.5%
ROE	58.6%	601.3%	70.3%	56.0%	-13.3%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €6k · 1.9% Current assets €323k · 98.1%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2021	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€329k	€552k	€571k	€260k	€138k
Fixed assets	21/28	€6k	€12k	€20k	€31k	-
Tangible fixed assets	22/27	€6k	€12k	€20k	€31k	-
Current assets	29/58	€323k	€540k	€551k	€229k	€138k
Stocks & contracts in progress	3	€305k	€527k	€500k	€65k	€96k
Amounts receivable within one year	40/41	€6k	€6k	-	€2k	-
Cash & bank	54/58	€5k	€1k	€42k	€153k	€42k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€329k	€552k	€571k	€260k	€138k
Equity	10/15	€-29k	€-12k	€60k	€60k	€26k
Contributions / capital	10/11	€30k	€30k	€30k	€30k	-
Accumulated profits (losses)	14	€-59k	€-42k	€30k	€30k	€-4k
Amounts payable	17/49	€358k	€564k	€512k	€200k	€111k
Amounts payable within one year	42/48	€358k	€544k	€489k	€199k	€111k
Trade debts payable within one year	44	€12k	€16k	€33k	€40k	€21k
Income statement
Gross operating margin	9900	€27k	€-37k	€90k	€51k	€-2k
Operating result	9901	€17k	€-48k	€79k	€41k	€-4k
Financial income	75	-	€5	€0	€2	€88
Financial charges	65	€21k	€23k	€34k	€107	€81
Result before taxes	9903	€-4k	€-71k	€46k	€41k	€-4k
Income taxes	67/77	€13k	-	€4k	€8k	-
Net result for the period	9904	€-17k	€-71k	€42k	€34k	€-4k
Result to be appropriated	9905	€-17k	€-71k	€42k	€34k	€-4k

Legal Structure

NACE primary	Buying and selling of own real estate(68110)
Legal form	Private limited company(610)
Incorporation	07-11-2019
Status	Active
Postal code	4020

Updates 5 events

All 8Financial 3Filings 5

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

2026

30-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 30 days late

2025

26-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 57 days late

03-03

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 215 days late

2024

31-12

Financial Weakest financial yearnet €-71k ▼271%

Net result drops to €-71k, the lowest in the series; recovery starts the following year.

2023

31-12

Financial Highest result since 2020net €42k ▲24.2%

Operating result €79k, net result €42k, both a record.

2022

27-10

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 88 days late

2021

31-12

Financial Back to profitnet €34k

Net result €34k after one loss-making year.

22-11

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 114 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Buying and selling of own real estate68110Renting and operating of own or leased residential real estate, excluding social housing68201

Names & trade names

Legal nameFR

HOME START-UP

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