ILLUSION
ActiveILLUSION has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-69k) and a net result of €-58k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 11% of 123 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency33=
Growth32=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.12 against 0.36 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Nine 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 26
Relative position
BE, all sectors
reference
Sector 26
lower
← fewer bankruptcies
more bankruptcies →
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
-23.3%
Return on assets
-19.6%
Age of the figures
8 mo
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 · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€69k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 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
5 d late
2024
13 d late
2023
7 d late
2022
24 d late
2021
32 d early
2020
27 d late
2019
25 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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-58k▼ 106%
2024 · €-28k
2018: €5k
2019: €2k
2020: €2k
2021: €-3k
2022: €24k
2023: €-22k
2024: €-28k
2018 → 2025
Working capital
€-215k▼ 44.9%
2024 · €-149k
2018: €19k
2019: €-33k
2020: €-26k
2021: €-26k
2022: €32k
2023: €-115k
2024: €-149k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€14k-€39k▲ 171%€17k▼ 55.7%€-11k€-69k▼ 525%
Operating result€-2k-€30k€-18k€-26k▼ 46.9%€-52k▼ 98.3%
Net result€-3k-€24k€-22k€-28k▼ 31.1%€-58k▼ 106%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €52k in 2025 against €26k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €298k
Fixed assets
€268k▲ 0.1%
Current assets
€30k▼ 64.1%
Key figures and ratios
EBITDA
€-46k▼
2024 · €-21k
Cash flow
€-52k▼
2024 · €-23k
Solvency
-23.3%▼
2024 · -3.2%
Current ratio
0.12▼
2024 · 0.36
Quick ratio
0.12▼
2024 · 0.36
Debt / equity
-5.29▲
2024 · -32.53
ROE
84.0%▼
2024 · 254.8%
ROA
-19.6%▼
2024 · -8.1%
Interest coverage
-7.31▼
2024 · -3.47
Debt
€367k▲
2024 · €362k
Debt ≤ 1 year
€245k▲
2024 · €231k
Debt > 1 year
€123k▼
2024 · €131k
Income taxes
€179▼
2024 · €271
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€350k€298k▼
Fixed assets21/28€268k€268k▲
Tangible fixed assets22/27€268k€268k▲
Land and buildings22€240k€240k=
Plant, machinery and equipment23€1k€872▼
Furniture and vehicles24€1k€5k▲
Other tangible fixed assets26€26k€23k▼
Current assets29/58€82k€30k▼
Amounts receivable within one year40/41€34k€22k▼
Trade receivables40€34k€22k▼
Other amounts receivable41-€425
Cash at bank and in hand54/58€48k€8k▼
Equity and liabilities
Total equity and liabilities10/49€350k€298k▼
Equity10/15€-11k€-69k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-19k€-78k▼
Amounts payable17/49€362k€367k▲
Amounts payable after more than one year17€131k€123k▼
Financial debts170/4€131k€123k▼
Amounts payable within one year42/48€231k€245k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Financial debts43-€16k
Credit institutions430/8-€16k
Trade debts44€44k€26k▼
Suppliers440/4€44k€26k▼
Taxes, remuneration and social security45€4k€179▼
Taxes450/3€4k€179▼
Other amounts payable47/48€175k€194k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€-18k€-44k▼
Operating profit (loss)9901€-26k€-52k▼
Financial income75/76B€4k€1▼
Recurring financial income75€44€1▼
Non-recurring financial income76B€4k-
Financial charges65/66B€6k€6k▲
Recurring financial charges65€6k€6k▲
Profit (loss) for the period before taxes9903€-28k€-58k▼
Income taxes67/77€271€179▼
Profit (loss) for the period9904€-28k€-58k▼
Profit (loss) for the period to be appropriated9905€-28k€-58k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-19k€-78k▼
Profit (loss) brought forward from the previous period14P€9k€-19k▼
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 5 days late
2025
31-12
Financial
Weakest financial yearnet €-58k
Net result drops to €-58k, the lowest in the series.
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 13 days late
2024
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 7 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
31-12
Financial
Back to profitnet €24k
Net result €24k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.52
Current ratio from 0.52 to 1.52.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 25 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
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
5 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, Fosses-la-Ville · 2 establishment units since 2013
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.
Rue du Sartia,Sart-Eustache 295070 Fosses-la-VilleGround area
1,685 m²
Building footprint
288 m²
Volume, LiDAR
760 m³
2 parcels, Flanders, Wallonia · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
ILLUSION
since 20132.225.318.471
ILLUSION
since 20242.354.928.386
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23062B0132/00L003 | Flanders | 845 m² | 1 · 158 m² | 8.6 m · 2 fl. |
| 92110A0302/00R003 | Wallonia | 839 m² | 1 · 130 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Wallonia-Brussels Federation
2024 to 2025 · 2 entries · 3,000 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 1 | 750 EUR |
| 2024 | 1 | 2,250 EUR |
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Of 147 companies in sector 26400 we hold annual accounts for 83. 34 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded09-12-2013
Fiscal year end31-12
Activities, NACEBEL
26400Manufacture of computer, electronic and optical products
90201Performing arts by independent artists
90202Performing arts by artistic ensembles
90021Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.