Equity
-€2.1m
Debts exceed assets in financial year 2025.
Invisible Puppy
Lifetime
10 annual accounts with figures on one time axispeak €2.9m (2019)
€267,037▼ 86.8%
lowest -€502,917 (2024)
-€179,235▲ €323,682
peak €20,646 (2016)
-€2.1m▼ €179,235
€2.2m▲ 2.1%
peak 21.4 FTE (2019)
4.4 FTE▼ 65.4%
Board6 names since 2020
1 directorDe Cronos Groep
Owners3 names in the annual accounts
86.61%KOO and 1 other
Documentsfilings and deeds
27-07-20264 days before the deadline
2025financial year
Address struck 08-08Turnover from €2.0m to €267,037Gross margin from €591,312 to €72,728Loss of €179,235Staff from 12.7 FTE to 4.4 FTEAddress strikeout annulled 31-10
Key points
from the 2025 annual accountsLosses
-€907,282 in three years
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Turnover
€267,037 ▼ 86.8%
Turnover fell in 2025: different schema filed.
Debts
€2.2m 1,459% of the balance sheet
Suppliers 3%Taxes and wages 0%Other 97%
Staff
4.4 FTE from 21.4 in 2019
Between 2019 and 2025, 79% of the full-time equivalents disappeared.
Payment terms
67 days to suppliers
Invisible Puppy pays its suppliers 14 days later than in 2024. Customers pay 49 days later.
Checked score
29
Weak
Financially stronger than 8% of micro companies in advertising and market research (NACE 73)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
9.7% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,229 companies (NACE 73, micro).
About 1 in 10 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.6%
01-2025: 4.6%● unchanged vs 12-2024
02-2025: 4.6%● unchanged vs 01-2025
03-2025: 4.4%▼ -0.2 percentage points vs 02-2025
04-2025: 4.4%● unchanged vs 03-2025
05-2025: 4.4%● unchanged vs 04-2025
06-2025: 4.2%▼ -0.2 percentage points vs 05-2025lowest value
07-2025: 4.3%▲ +0.1 percentage points vs 06-2025
08-2025: 4.6%▲ +0.3 percentage points vs 07-2025
09-2025: 8.4%▲ +3.8 percentage points vs 08-2025
10-2025: 8.4%● unchanged vs 09-2025
11-2025: 9.9%▲ +1.5 percentage points vs 10-2025
12-2025: 9.9%● unchanged vs 11-2025
01-2026: 9.9%● unchanged vs 12-2025
02-2026: 10.5%▲ +0.6 percentage points vs 01-2026highest value
03-2026: 10.1%▼ -0.4 percentage points vs 02-2026
04-2026: 10.1%● unchanged vs 03-2026
05-2026: 9.4%▼ -0.7 percentage points vs 04-2026
06-2026: 9.0%▼ -0.4 percentage points vs 05-2026
07-2026: 9.3%▲ +0.3 percentage points vs 06-2026
08-2026: 9.7%▲ +0.4 percentage points vs 07-2026
09-2026: 9.7%● unchanged vs 08-2026
10-2026: 9.7%● unchanged vs 09-2026
11-2026: 9.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €179,235, the second in a row (financial year 2025)
Negative equity -€2.1m
Ex-officio strike-off in the KBO
1 change of registered office in 24 months
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 5% of them on solvency, 4% on liquidity, 6% on profitability and 17% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as Invisible Puppy has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Invisible Puppy itself is higher: 9.7% within 12 months. It rests on far more data about Invisible Puppy than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,907 companies, not a prediction for Invisible Puppy. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.07 (0.13 in 2024), below 1. Cash is 3% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
raises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€2.1m
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 days early
2024
24 days early
2023
27 days late
2022
52 days late
2021
23 days late
2020
30 days late
2019
21 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 12 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
raises risk · Administrative warnings in the KBO publications
The FPS Economy published 2 notices about the company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Address struckAddress strikeout annulled
Searched, nothing found (1)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- De Cronos Groep 100%equity €47.8m (2026) · 31-03-2026 annual accounts of De Cronos Groep
- KOO 86.61%score 48equity -€10.1m (2025) · annual accounts 2025
Recent changes
1 director reappointed, 1 statutory auditor reappointed
Capital from €62,000 to €2,182,000 · Capital from €2,182,000 to €62,000 · De Cronos Groep NV (sole director) and KPMG Bedrijfsrevisoren (statutory auditor) · Gazette deed
Address strikeout annulled
KBO administration
Registered office moved from Ghent to Kontich
New registered office: Veldkant 33 bus A te 2550 Kontich · Previous registered office: Sint Denijslaan 201, 9000 Gent · Permanent representative: Dirk Deroost · Board meeting of 30-09-2025 · Gazette deed
Address struck
Sint-Denijslaan 201 Sint-Denijslaan 201, 9000
Gent · effective 05-06-2025 · KBO administration
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Invisible Puppy Kontich | €153,963 | €72,728 | -1358.6% | 4.4 |
| AMS Stories Willebroek | €115,781 | €70,753 | 59.3% | - |
| TOUCH ACTIVATION MARKETING Vosselaar | €223,879 | €72,846 | 32.3% | - |
| FACTS & FEELINGS Antwerp | €184,321 | €59,325 | 37.6% | - |
| ONLINE ED Zottegem | €136,865 | €89,385 | 19.7% | - |
| LALLEMAND Namur | €175,371 | €50,926 | 11.7% | - |
| #NotOnlyIdeas Overijse | €149,850 | €112,312 | -183.8% | - |
These companies have the same main activity as Invisible Puppy: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €116,000 and €224,000, founded between 2013 and 2016.
Official details
Source: KBO- Status
- Active since 12-08-2015Normal situation
- Registered office
- 146 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 7 November 2026.
- Activity
- Market research and public opinion pollingNACE 73200and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.245.345.8052550 Kontich, since 12-08-2015
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €153,963▼ 46.3%
- Employeeson 31-12-2025
- 1▼ 90.0%
- Filing
- Filed on 27-07-2026, 4 days before the end of the filing period
Companies linked to Invisible Puppy
Parent and group
Insights on Invisible Puppy
Invisible Puppy has existed since 2015. Turnover fell from €2.0m in 2024 to €267,037 in 2025 and staff from 12.7 to 4.4 full-time equivalents. The accounts now follow the full format, last year the abbreviated format.
Turnover has fallen every year since 2022. Solvency fell in 2025 from -667.3% to -1358.6% because of the loss.
De Cronos Groep holds all the shares. In July 2023, the Official Gazette published the appointment of De Cronos Groep as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Invisible Puppy
- What is the company number of Invisible Puppy?
- The company number of Invisible Puppy is 0635.475.605. The VAT number is the same number with BE in front: BE 0635.475.605.
- Where is Invisible Puppy based?
- The registered office is at Veldkant 33, 2550 Kontich.Company details
- What does Invisible Puppy do?
- According to the KBO register, the main activity is market research and public opinion polling (NACE 73200).
- What is the legal form of Invisible Puppy?
- Invisible Puppy is a public limited company (NV).
- When was Invisible Puppy founded?
- Invisible Puppy was founded on 12-08-2015.
- Is Invisible Puppy still active?
- Yes, Invisible Puppy is an active enterprise in the KBO register.
- How many employees does Invisible Puppy have?
- Invisible Puppy had an average of 4.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Invisible Puppy fall under?
- In its 2025 annual accounts, Invisible Puppy states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Invisible Puppy?
- The turnover of Invisible Puppy was €267,037 in financial year 2025, according to the filed annual accounts.
- Is Invisible Puppy profitable?
- In financial year 2025, Invisible Puppy made a loss of €179,235.
- Where can I find the annual accounts of Invisible Puppy?
- Invisible Puppy filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Invisible Puppy due?
- Invisible Puppy must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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