INTERCONNECTION
ActiveSummary
INTERCONNECTION has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €65,708. Equity is shrinking by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 88% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+75
Solvency100▲+14
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 5.93 against 2.55 in 2024; short-term debt: 16.8% and cash: 1.1% of total assets), and 16.8% of the assets are financed with debt.
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Signals
Six 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
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
83.2%
Return on assets
4.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
30 d late
2023
28 d late
2022
20 d early
2021
4 d early
2020
3 d early
2019
29 d early
← 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 on the deadline day; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€65,708
2024 · -€262,511
Working capital
€1.1m▲ 7.3%
2024 · €1.0m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€223,478▲ 13.5%€40,180-€781-€252,113▼ 32,175%€78,885
Net result-€224,409below the sector's middle half▲ 18.2%€30,605within the sector's middle half-€11,820below the sector's middle half-€262,511below the sector's middle half▼ 2,121%€65,708within the sector's middle half
Equity€1.3mwithin the sector's middle half▼ 14.8%€1.3mwithin the sector's middle half▲ 2.4%€1.3mwithin the sector's middle half▼ 0.9%€1.0mwithin the sector's middle half▼ 20.1%€1.1mwithin the sector's middle half▲ 6.3%
Total assets€1.6mwithin the sector's middle half▼ 16.3%€1.8mwithin the sector's middle half▲ 10.3%€1.9mwithin the sector's middle half▲ 8.0%€1.7mwithin the sector's middle half▼ 10.5%€1.3mwithin the sector's middle half▼ 21.8%
Debt€313,713▼ 21.7%€448,120▲ 42.8%€600,479▲ 34.0%€662,244▲ 10.3%€224,003▼ 66.2%
Working capital€1.3m▼ 15.3%€1.3m▲ 2.3%€1.3m▼ 0.8%€1.0m▼ 20.8%€1.1m▲ 7.3%
Solvency80.4%above the sector's middle half▲ 1.4pp74.6%above the sector's middle half▼ 5.8pp68.5%above the sector's middle half▼ 6.1pp61.2%within the sector's middle half▼ 7.3pp83.2%above the sector's middle half▲ 22.0pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €78,885 after a loss of €252,113 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€5,578 ▼ 63.3%
Current assets
€1.3m ▼ 21.5%
Equity and liabilities €1.3m
Equity
€1.1m ▲ 6.3%
Debt
€224,003 ▼ 66.2%
Debt's share of the balance-sheet total falls from 38.8% to 16.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€81,988▲
2024 · -€250,480
Cash flow
€68,811▲
2024 · -€260,878
Current ratio
5.93▲
2024 · 2.55
Quick ratio
0.14▼
2024 · 0.24
Debt to equity
0.20▼
2024 · 0.63
ROE
5.9%▲
2024 · -25.2%
ROA
4.9%▲
2024 · -15.4%
Interest coverage
8.26▲
2024 · -20.67
Debt ≤ 1 year
€224,003▼
2024 · €662,244
Income taxes
€3,263
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,684 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €478 | €654 | €854 | €1,632 | €3,103 | ▲ 90.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €245,965 | -€19,669 | ▼ 108% |
| Other operating charges640/8 | €1,341 | €868 | €1,710 | €1,347 | €2,267 | ▲ 68.3% |
| Gross operating margin9900 | -€221,659 | €41,701 | €1,782 | -€3,168 | €64,586 | ▲ 2,139% |
| Operating profit (loss)9901 | -€223,478 | €40,180 | -€781 | -€252,113 | €78,885 | ▲ 131% |
| Financial income75/76B | €5,337 | €1,406 | €354 | €1,718 | €13 | ▼ 99.2% |
| Recurring financial income75 | €5,337 | €1,406 | €354 | €1,718 | €13 | ▼ 99.2% |
| Financial charges65/66B | €5,981 | €10,981 | €10,624 | €12,116 | €9,928 | ▼ 18.1% |
| Recurring financial charges65 | €5,981 | €10,981 | €10,624 | €12,116 | €9,928 | ▼ 18.1% |
| Profit (loss) for the period before taxes9903 | -€224,122 | €30,605 | -€11,052 | -€262,511 | €68,970 | ▲ 126% |
| Income taxes67/77 | €287 | - | €769 | - | €3,263 | - |
| Profit (loss) for the period9904 | -€224,409 | €30,605 | -€11,820 | -€262,511 | €65,708 | ▲ 125% |
| Profit (loss) for the period to be appropriated9905 | -€224,409 | €30,605 | -€11,820 | -€262,511 | €65,708 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.8m | €1.9m | €1.7m | €1.3m | ▼ 21.8% |
| Fixed assets21/28 | €8,490 | €9,100 | €8,273 | €15,212 | €5,578 | ▼ 63.3% |
| Tangible fixed assets22/27 | €911 | €1,521 | €667 | €7,606 | €4,503 | ▼ 40.8% |
| Furniture and vehicles24 | €911 | €1,521 | €667 | €7,606 | €4,503 | ▼ 40.8% |
| Financial fixed assets28 | €7,579 | €7,579 | €7,606 | €7,606 | €1,075 | ▼ 85.9% |
| Current assets29/58 | €1.6m | €1.8m | €1.9m | €1.7m | €1.3m | ▼ 21.5% |
| Stocks and contracts in progress3 | €1.5m | €1.6m | €1.8m | €1.5m | €1.3m | ▼ 15.2% |
| Stocks30/36 | €1.5m | €1.6m | €1.8m | €1.5m | €1.3m | ▼ 15.2% |
| Amounts receivable within one year40/41 | €56,275 | €81,367 | €43,395 | €148,043 | €16,401 | ▼ 88.9% |
| Trade receivables40 | €40,305 | €55,397 | €23,785 | €133,043 | €11,774 | ▼ 91.2% |
| Other amounts receivable41 | €15,970 | €25,970 | €19,610 | €15,000 | €4,627 | ▼ 69.2% |
| Cash at bank and in hand54/58 | €53,437 | €100,223 | €53,225 | €6,901 | €14,085 | ▲ 104% |
| Deferred charges and accrued income490/1 | - | - | - | €5,578 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.8m | €1.9m | €1.7m | €1.3m | ▼ 21.8% |
| Equity10/15 | €1.3m | €1.3m | €1.3m | €1.0m | €1.1m | ▲ 6.3% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Capital10 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Issued capital100 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | €1.1m | €1.1m | €1.1m | €843,463 | €905,598 | ▲ 7.4% |
| Non-distributable reserves130/1 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Legal reserve130 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Distributable reserves133 | €1.1m | €1.1m | €1.1m | €823,463 | €885,598 | ▲ 7.5% |
| Profit (loss) carried forward14 | - | €30,605 | €18,784 | - | €3,573 | - |
| Amounts payable17/49 | €313,713 | €448,120 | €600,479 | €662,244 | €224,003 | ▼ 66.2% |
| Amounts payable within one year42/48 | €313,713 | €448,120 | €600,479 | €662,244 | €224,003 | ▼ 66.2% |
| Financial debts43 | €2,524 | €3,362 | €3,394 | €194,031 | €18,452 | ▼ 90.5% |
| Credit institutions430/8 | €2,524 | €3,362 | €3,394 | €194,031 | €18,452 | ▼ 90.5% |
| Trade debts44 | €56,915 | €40,407 | €46,446 | €5,698 | €1,435 | ▼ 74.8% |
| Suppliers440/4 | €56,915 | €40,407 | €46,446 | €5,698 | €1,435 | ▼ 74.8% |
| Advances received on contracts in progress46 | €175,061 | €299,601 | €461,283 | €377,459 | €83,552 | ▼ 77.9% |
| Taxes, remuneration and social security45 | €13,121 | €9,766 | €12,312 | €5,693 | €5,441 | ▼ 4.4% |
| Taxes450/3 | €13,121 | €9,766 | €12,312 | €5,693 | €5,441 | ▼ 4.4% |
| Other amounts payable47/48 | €66,092 | €94,984 | €77,044 | €79,363 | €115,123 | ▲ 45.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€224,409 | €30,605 | -€11,820 | -€262,511 | €65,708 | ▲ 125% |
| + Depreciation and write-downs630 | €478 | €654 | €854 | €1,632 | €3,103 | ▲ 90.1% |
| Operating cash flow (approximation) | -€223,930 | €31,259 | -€10,967 | -€260,878 | €68,811 | ▲ 126% |
| Investment in fixed assets (approximation) | - | -€1,264 | -€27 | -€8,571 | €6,531 | ▲ 176% |
| Change in cash | - | €46,786 | -€46,998 | -€46,324 | €7,184 | ▲ 116% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €65,708
Net result €65,708 after 2 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 5.93
Current ratio from 2.55 to 5.93; short-term debt falls from €662,244 to €224,003.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 30 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €30,605
Net result €30,605 after 2 loss-making years.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€274,187
Net result drops to -€274,187, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Elsene · 1 establishment unit since 2001
Ground area
904 m²
Building footprint
220 m²
Volume, LiDAR
2,201 m³
2 parcels, Brussels · tallest building 16.5 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Amazonestraat 21-23, 1050 Elsene
since 20012.098.015.770
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0232/00E008 | Brussels | 797 m² | 1 · 140 m² | 15.7 m · 4 fl. |
| 21447B0289/00A002 | Brussels | 107 m² | 1 · 79 m² | 16.5 m · 4 fl. |
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 200 companies in sector 46425 we hold annual accounts for 135. 83 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded20-12-2000
Fiscal year end31-12
Activities, NACEBEL 2025
46425Wholesale trade
46190Agents in non-specialised wholesale trade
46423Wholesale of clothing, excluding workwear and underwear
46450Wholesale of perfume and cosmetics
47120Other non-specialised retail sale
47721Retail sale of footwear
47750Retail sale of cosmetics and toilet articles
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.