IRoAD
ActiveIRoAD has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €364k and a net result of €182k. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 52% of 709 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability97▲+15
Solvency70▼-9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.32 against 3.66 in 2024; short-term debt: 42.2% and cash: 30.9% of total assets), but 55% of the assets are financed with debt.
Credit advice for your own amount and term
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
45%
Return on assets
22.5%
Age of the figures
12 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 22-05-2026, 22 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
22 d late
2024
21 d late
2023
14 d late
2022
3 d late
2021
11 d late
2020
on the day
2019
29 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€182k▲ 162%
2024 · €70k
2018: €503k
2019: €325k
2020: €24k
2021: €46k
2022: €49k
2023: €80k
2024: €70k
2018 → 2025
Working capital
€450k▼ 0.6%
2024 · €453k
2018: €292k
2019: €319k
2020: €325k
2021: €327k
2022: €331k
2023: €527k
2024: €453k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€328k-€332k▲ 1.1%€332k▲ 0.1%€342k▲ 2.9%€364k▲ 6.4%
Operating result€49k-€53k▲ 7.7%€90k▲ 69.0%€86k▼ 4.3%€195k▲ 127%
Net result€46k-€49k▲ 4.8%€80k▲ 65.3%€70k▼ 13.4%€182k▲ 162%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 127% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €808k
Fixed assets
€17k▲ 17.6%
Current assets
€791k▲ 26.9%
Equity and liabilities €808k
Equity
€364k▲ 6.4%
Debt
€444k▲ 50.1%
The debt ratio rises from 46.4% to 55.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€207k▲
2024 · €96k
Cash flow
€194k▲
2024 · €80k
Solvency
45.0%▼
2024 · 53.6%
Current ratio
2.32▼
2024 · 3.66
Quick ratio
2.32▼
2024 · 3.66
Debt / equity
1.22▲
2024 · 0.87
ROE
50.0%▲
2024 · 20.3%
ROA
22.5%▲
2024 · 10.9%
Interest coverage
85.09▲
2024 · 8.62
Debt
€444k▲
2024 · €296k
Debt ≤ 1 year
€341k▲
2024 · €170k
Debt > 1 year
€3k▼
2024 · €9k
Income taxes
€10k▲
2024 · €5k
Staff costs
€150k▲
2024 · €123k
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€638k€808k▲
Fixed assets21/28€15k€17k▲
Tangible fixed assets22/27€14k€17k▲
Furniture and vehicles24€14k€17k▲
Financial fixed assets28€191€191=
Current assets29/58€623k€791k▲
Amounts receivable within one year40/41€394k€541k▲
Trade receivables40€163k€183k▲
Other amounts receivable41€230k€358k▲
Cash at bank and in hand54/58€230k€249k▲
Deferred charges and accrued income490/1-€437
Equity and liabilities
Total equity and liabilities10/49€638k€808k▲
Equity10/15€342k€364k▲
Contributions10/11€30k€30k=
Reserves13€253k€253k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Distributable reserves133€250k€250k=
Profit (loss) carried forward14€59k€81k▲
Amounts payable17/49€296k€444k▲
Amounts payable after more than one year17€9k€3k▼
Financial debts170/4€9k€3k▼
Amounts payable within one year42/48€170k€341k▲
Current portion of amounts payable after more than one year42€6k€7k▲
Trade debts44€69k€121k▲
Suppliers440/4€69k€121k▲
Taxes, remuneration and social security45€34k€53k▲
Taxes450/3€7k€24k▲
Remuneration and social security454/9€27k€29k▲
Other amounts payable47/48€61k€160k▲
Accrued charges and deferred income492/3€116k€101k▼
Income statement
Code20242025
Remuneration, social security and pensions62€123k€150k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€12k▲
Other operating charges640/8€695€1k▲
Gross operating margin9900€220k€359k▲
Operating profit (loss)9901€86k€195k▲
Financial income75/76B€160€0▼
Recurring financial income75€160€0▼
Financial charges65/66B€11k€2k▼
Recurring financial charges65€11k€2k▼
Profit (loss) for the period before taxes9903€75k€192k▲
Income taxes67/77€5k€10k▲
Profit (loss) for the period9904€70k€182k▲
Profit (loss) for the period to be appropriated9905€70k€182k▲
Appropriation of the result
Profit (loss) to be appropriated9906€119k€241k▲
Profit (loss) brought forward from the previous period14P€49k€59k▲
Profit to be distributed694/7€60k€160k▲
Directors or managers695€60k€160k▲
Social balance
Average headcount (FTE)90871.01.7▲
The notes to these accounts (8 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
01-09
State Gazette act
Resignations & appointmentsGeneral meeting · Director appointment · Mandate compensation3 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director appointment · Mandate compensation3 facts ▸
- General meeting, 2026-05-28
- Director appointment, Douglas GRAUWELS (administrateur)
- Mandate compensation, Douglas GRAUWELS
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 22 days late
2025
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 21 days late
2024
14-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 14 days late
2023
03-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 3 days late
2022
11-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 11 days late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Weakest financial yearnet €24k ▼92.8%
Net result drops to €24k, the lowest in the series; recovery starts the following year.
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 days late
2019
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
03-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 3 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
Douglas GRAUWELS
CurrentDirector · since 01-01-2026
01-01-2026
Appointed as Director
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2007
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.
Kasteeltjeslaan 281180 UkkelGround area
95 m²
Building footprint
92 m²
Volume, LiDAR
393 m³
Parcel 21614H0032/00A015, Brussels · tallest building 8.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Kasteeltjeslaan 28, 1180 Ukkel
since 20072.261.731.875
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0032/00A015 | Brussels | 95 m² | 1 · 92 m² | 8.7 m · 1 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
E-MPULS
BE 0824.371.623
Hasselt · Eq €364k
HAPPINESS BRUSSELS
BE 0876.054.114
Vilvoorde · Eq €364k
TWOGETHER AND PARTNERS
BE 0433.341.857
Ukkel · Eq €363k
BELLCRO
BE 0440.388.710
Antwerpen · Eq €363k
MUSTANGO FALLS
BE 0477.721.535
Ukkel · Eq €365k
Of 9,862 companies in sector 73110 we hold annual accounts for 3,755. 2,409 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded04-01-2007
Fiscal year end30-09
Activities, NACEBEL
73110Advertising agencies
74401
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.