Kwadraad
ActiveThe annual accounts of Kwadraad for fiscal year 2025 show a net loss of 93% of the equity at the start of that year. The 2025 annual accounts show equity of €8k and a net result of €-108k. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 14% of 7740 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
40
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-44
Solvency27▼-13
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.24 against 0.97 in 2024; short-term debt: 23.1% and cash: 1.5% of total assets), and 98.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 82
Relative position
BE, all sectors
reference
Sector 82
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
1.7%
Return on assets
-23.2%
Age of the figures
18 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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-108k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 7740 sector peers (2025).
NBB · sector comparisonPosition among 7740 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 26-11-2025, 26 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
26 d late
2024
60 d late
2023
58 d late
2022
61 d late
2021
9 d late
2020
30 d late
2019
24 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close22-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€8k▼ 93.2%
2024 · €116k
2019: €70k
2020: €105k
2021: €110k
2022: €155k
2023: €164k
2024: €116k
2019 → 2025
Total assets
€468k▼ 38.3%
2024 · €759k
2019: €629k
2020: €725k
2021: €651k
2022: €924k
2023: €890k
2024: €759k
2019 → 2025
Net result
€-108k▼ 125%
2024 · €-48k
2019: €-19k
2020: €35k
2021: €5k
2022: €39k
2023: €9k
2024: €-48k
2019 → 2025
Working capital
€-83k▼ 988%
2024 · €-8k
2019: €-23k
2020: €24k
2021: €50k
2022: €36k
2023: €81k
2024: €-8k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€110k-€155k▲ 41.4%€164k▲ 5.9%€116k▼ 29.3%€8k▼ 93.2%
Operating result€2k-€51k▲ 2,253%€25k▼ 51.7%€-40k€-101k▼ 153%
Net result€5k-€39k▲ 727%€9k▼ 76.6%€-48k€-108k▼ 125%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €101k in 2025 against €40k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €468k
Fixed assets
€443k▼ 15.3%
Current assets
€26k▼ 89.2%
Equity and liabilities €468k
Equity
€8k▼ 93.2%
Debt
€460k▼ 28.4%
The debt ratio rises from 84.7% to 98.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-19k▼
2024 · €32k
Cash flow
€-26k▼
2024 · €24k
Solvency
1.7%▼
2024 · 15.3%
Current ratio
0.24▼
2024 · 0.97
Quick ratio
0.24▼
2024 · 0.83
Debt / equity
58.54▲
2024 · 5.53
ROA
-23.2%▼
2024 · -6.3%
Interest coverage
-1.92▼
2024 · 4.03
Debt
€460k▼
2024 · €643k
Debt ≤ 1 year
€108k▼
2024 · €244k
Debt > 1 year
€352k▼
2024 · €399k
Income taxes
€317▲
2024 · €306
Staff costs
€41k▼
2024 · €48k
A ratio outside any meaningful range has been withheld (balance sheet total €468k, equity €8k).
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€759k€468k▼
Fixed assets21/28€523k€443k▼
Tangible fixed assets22/27€522k€442k▼
Land and buildings22€410k€364k▼
Plant, machinery and equipment23€13k€7k▼
Furniture and vehicles24€99k€71k▼
Financial fixed assets28€550€550=
Current assets29/58€237k€26k▼
Stocks and contracts in progress3€35k€0▼
Stocks30/36€35k€0▼
Amounts receivable within one year40/41€133k€18k▼
Trade receivables40€133k€18k▼
Other amounts receivable41-€0
Cash at bank and in hand54/58€69k€7k▼
Equity and liabilities
Total equity and liabilities10/49€759k€468k▼
Equity10/15€116k€8k▼
Contributions10/11€19k€19k=
Reserves13€146k€146k=
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Distributable reserves133€146k€144k▼
Profit (loss) carried forward14€-48k€-157k▼
Amounts payable17/49€643k€460k▼
Amounts payable after more than one year17€399k€352k▼
Financial debts170/4€399k€352k▼
Amounts payable within one year42/48€244k€108k▼
Current portion of amounts payable after more than one year42€42k€47k▲
Trade debts44€185k€10k▼
Suppliers440/4€185k€10k▼
Taxes, remuneration and social security45€17k€10k▼
Taxes450/3€7k€6k▼
Remuneration and social security454/9€10k€4k▼
Other amounts payable47/48€541€42k▲
Income statement
Code20242025
Non-recurring operating income76A-€713
Remuneration, social security and pensions62€48k€41k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€72k€82k▲
Other operating charges640/8€3k€21k▲
Non-recurring operating charges66A-€5k
Gross operating margin9900€84k€48k▼
Operating profit (loss)9901€-40k€-101k▼
Financial income75/76B-€2k
Recurring financial income75-€2k
Financial charges65/66B€8k€10k▲
Recurring financial charges65€8k€10k▲
Profit (loss) for the period before taxes9903€-48k€-108k▼
Income taxes67/77€306€317▲
Profit (loss) for the period9904€-48k€-108k▼
Profit (loss) for the period to be appropriated9905€-48k€-108k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-48k€-157k▼
Profit (loss) brought forward from the previous period14P-€-48k
The notes to these accounts (7 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
2025
26-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
31-03
Financial
Weakest financial yearnet €-108k
Net result drops to €-108k, the lowest in the series.
2024
30-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2022
31-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
31-03
Financial
Highest result since 2019net €39k ▲727%
Net result €39k, the highest in the series.
31-03
Financial
Equity above €150kEq €155k ▲41.4%
3 profitable years in a row build equity to €155k.
2021
09-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
31-03
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
31-03
Financial
Equity above €100kEq €105k ▲50.4%
Equity rises from €70k to €105k.
2019
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
14-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Herk-de-Stad · 1 establishment unit since 2020
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.
Steenweg 33540 Herk-de-StadGround area
5,956 m²
Building footprint
357 m²
Parcel 71003B0070/00Z004, Flanders. Linked by address, not a title deed.
1 establishment unit
Kwadraad
since 20202.307.622.575
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71003B0070/00Z004 | Flanders | 5,956 m² | 1 · 357 m² | - |
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.
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Of 4,572 companies in sector 82300 we hold annual accounts for 1,671. 822 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-04-2014
Fiscal year end31-03
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
82300Organisation of conventions and trade shows
90201Performing arts by independent artists
90202Performing arts by artistic ensembles
90021Arts creation and performing arts activities
90029Arts creation and performing arts activities
90031Arts creation and performing arts activities
90032Arts creation and performing arts activities
90111Literary creation
90120Visual arts creation
90391Promotion and organisation of arts and performing arts events
90399Other support activities for arts and performing arts
Sources
Crossroads Bank for EnterprisesNational Bank · 11 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.