KAL-EL
ActiveKAL-EL has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €867k and a net result of €-201k. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 50% of 531 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability6▼-80
Solvency69▼-17
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity tight (current ratio 1.47 against 3.5 in 2024; short-term debt: 34.9% and cash: 17% of total assets), and 56.2% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-05-2026, 27 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
27 d late
2024
on the day
2023
31 d late
2022
31 d late
2021
30 d late
2020
on the day
2019
15 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
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€867k▼ 47.9%
2024 · €1.66M
2018: €540k
2019: €1.02M
2020: €1.46M
2021: €1.38M
2022: €1.29M
2023: €1.68M
2024: €1.66M
2018 → 2025
Total assets
€1.98M▼ 26.9%
2024 · €2.71M
2018: €978k
2019: €1.32M
2020: €2.07M
2021: €1.92M
2022: €1.76M
2023: €2.42M
2024: €2.71M
2018 → 2025
Net result
€-201k
2024 · €381k
2018: €-218k
2019: €481k
2020: €438k
2021: €-80k
2022: €161k
2023: €392k
2024: €381k
2018 → 2025
Working capital
€324k▼ 73.2%
2024 · €1.21M
2018: €495k
2019: €985k
2020: €1.31M
2021: €1.20M
2022: €1.03M
2023: €1.26M
2024: €1.21M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.38M-€1.29M▼ 6.4%€1.68M▲ 30.4%€1.66M▼ 1.1%€867k▼ 47.9%
Operating result€-61k-€228k€591k▲ 160%€575k▼ 2.8%€-199k
Net result€-80k-€161k€392k▲ 143%€381k▼ 2.9%€-201k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €199k after €575k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.98M
Fixed assets
€965k▼ 4.6%
Current assets
€1.01M▼ 40.2%
Equity and liabilities €1.98M
Equity
€867k▼ 47.9%
Debt
€1.11M▲ 6.5%
The debt ratio rises from 38.5% to 56.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-144k▼
2024 · €629k
Cash flow
€-146k▼
2024 · €436k
Solvency
43.8%▼
2024 · 61.5%
Current ratio
1.47▼
2024 · 3.50
Quick ratio
1.47▼
2024 · 3.50
Debt / equity
1.28▲
2024 · 0.63
ROE
-23.2%▼
2024 · 22.9%
ROA
-10.2%▼
2024 · 14.1%
Interest coverage
-9.95▼
2024 · 32.88
Debt
€1.11M▲
2024 · €1.04M
Debt ≤ 1 year
€690k▲
2024 · €485k
Debt > 1 year
€422k▼
2024 · €486k
Income taxes
€672▼
2024 · €179k
Staff costs
€25k▲
2024 · €24k
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€2.71M€1.98M▼
Fixed assets21/28€1.01M€965k▼
Tangible fixed assets22/27€1.01M€965k▼
Land and buildings22€968k€931k▼
Plant, machinery and equipment23€13k€11k▼
Furniture and vehicles24€30k€23k▼
Financial fixed assets28€25€25=
Current assets29/58€1.70M€1.01M▼
Amounts receivable within one year40/41€861k€561k▼
Trade receivables40€27k€21k▼
Other amounts receivable41€835k€540k▼
Current investments50/53€300k€0▼
Cash at bank and in hand54/58€529k€336k▼
Deferred charges and accrued income490/1€5k€116k▲
Equity and liabilities
Total equity and liabilities10/49€2.71M€1.98M▼
Equity10/15€1.66M€867k▼
Contributions10/11€12k€12k=
Reserves13€1.65M€855k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€38k€38k=
Distributable reserves133€1.61M€816k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.04M€1.11M▲
Amounts payable after more than one year17€486k€422k▼
Financial debts170/4€486k€422k▼
Amounts payable within one year42/48€485k€690k▲
Current portion of amounts payable after more than one year42€63k€64k▲
Trade debts44€13k€25k▲
Suppliers440/4€13k€25k▲
Taxes, remuneration and social security45€8k€5k▼
Taxes450/3€4k€127▼
Remuneration and social security454/9€4k€5k▲
Other amounts payable47/48€401k€596k▲
Accrued charges and deferred income492/3€73k€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€24k€25k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€55k€55k▲
Other operating charges640/8€10k€6k▼
Gross operating margin9900€664k€-114k▼
Operating profit (loss)9901€575k€-199k▼
Financial income75/76B€4k€14k▲
Recurring financial income75€4k€14k▲
Financial charges65/66B€19k€14k▼
Recurring financial charges65€19k€14k▼
Profit (loss) for the period before taxes9903€560k€-200k▼
Income taxes67/77€179k€672▼
Profit (loss) for the period9904€381k€-201k▼
Profit (loss) for the period to be appropriated9905€381k€-201k▼
Appropriation of the result
Profit (loss) to be appropriated9906€381k€-201k▼
Transfer from equity791/2€400k€796k▲
Transfer to equity691/2€381k€0▼
To other reserves6921€381k€0▼
Profit to be distributed694/7€400k€595k▲
Return on contributions (dividend)694€400k€595k▲
Social balance
Average headcount (FTE)9087-0.5
The notes to these accounts (17 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
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
30-09
Financial
Back to profitnet €161k
Net result €161k after one loss-making year.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
15-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 15 days late
2019
30-09
Financial
Back to profitnet €481k
Net result €481k after one loss-making year.
30-09
Financial
Liquidity quadruplescurrent ratio 15.35
Current ratio from 3.69 to 15.35; short-term debt falls from €184k to €69k.
30-09
Financial
Equity above €1MEq €1.02M ▲89.1%
Equity rises from €540k to €1.02M.
23-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Mortsel · 2 establishment units 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.
Osylei 202640 MortselGround area
948 m²
Building footprint
238 m²
Volume, LiDAR
1,350 m³
2 parcels, Flanders · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
KAL-EL
since 20072.158.381.345
Borsbeekstraat 56, 2140 Antwerpen
since 20112.208.421.863
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11029A0179/00D010 | Flanders | 883 m² | 1 · 178 m² | 9.2 m · 1 fl. |
| 11312A0084/00Y008 | Flanders | 65 m² | 1 · 60 m² | 9.6 m · 3 fl. |
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.
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HEATH ROAD
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BARBA ROSSA
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Of 8,303 companies in sector 90201 we hold annual accounts for 601. 260 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded06-12-2006
Fiscal year end30-09
Activities, NACEBEL
90201Performing arts by independent artists
90202Performing arts by artistic ensembles
92311
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.