Level Five
ActiveSummary
Level Five has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €83,711 and a net result of €3,420. Equity remains stable across the filed financial years (±0.5% per year). Its solvency ranks better than 86% of 2,461 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €83,711
- Surplus
- €3,420
- Board
- 10 members
- Melchior,LailaDaily manager
Why 95raises risk1 change of registered office in 24 monthslowers riskLegal form: non-profit associationSector: Arts creation and performing arts activities (NACE 90)Liquidity: current ratio 3.46, cash €27,387Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 90, micro): better than 88% on solvency, 72% on liquidity, 39% on profitability and 44% on growth.
The bankruptcy probability was computed on 24-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 4 accounts on average 51 days before the deadline; the sector median (NACE 90) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €3,420
- Resignations: Caroline Dumalin, Laura Muyldermans and…Reappointments: David Berstein, Mirthe Demaerel…
Financials · financial year 2025, micro format
2022 to 2025, 4 financial years
The operating result returns to profit in 2025: €3,467 after a loss of €4,604 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 90, Arts creation and performing arts activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 5,048 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 93.9% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,474 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 5,048 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.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €122,455 | €151,370 | €184,199 | €184,476 | ▲ 0.2% |
| Membership fees, donations, legacies and grants73 | €81,573 | €53,966 | €58,526 | €52,559 | ▼ 10.2% |
| Non-recurring operating income76A | €20 | €931 | €70 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €177,219 | €149,203 | €198,012 | €175,239 | ▼ 11.5% |
| Remuneration, social security and pensions62 | €28,764 | €29,885 | €41,066 | €50,650 | ▲ 23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,585 | €8,234 | €8,634 | €7,895 | ▼ 8.6% |
| Other operating charges640/8 | €901 | €99 | - | €1,742 | - |
| Gross operating margin9900 | €30,453 | €57,462 | €45,096 | €63,754 | ▲ 41.4% |
| Operating profit (loss)9901 | -€5,798 | €19,244 | -€4,604 | €3,467 | - |
| Financial income75/76B | - | €23 | €12 | €49 | ▲ 305% |
| Recurring financial income75 | - | €23 | €12 | €49 | ▲ 305% |
| Financial charges65/66B | €152 | €132 | €111 | €97 | ▼ 13.1% |
| Recurring financial charges65 | €152 | €132 | €111 | €97 | ▼ 13.1% |
| Profit (loss) for the period before taxes9903 | -€5,949 | €19,135 | -€4,703 | €3,420 | - |
| Income taxes67/77 | - | - | €1,636 | - | - |
| Profit (loss) for the period9904 | -€5,949 | €19,135 | -€6,339 | €3,420 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,949 | €19,135 | -€6,339 | €3,420 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €90,603 | €133,695 | €119,032 | €96,945 | ▼ 18.6% |
| Fixed assets21/28 | €58,267 | €66,518 | €59,084 | €51,189 | ▼ 13.4% |
| Tangible fixed assets22/27 | €54,095 | €62,346 | €54,912 | €47,017 | ▼ 14.4% |
| Land and buildings22 | €52,617 | €61,607 | €54,112 | €46,617 | ▼ 13.9% |
| Plant, machinery and equipment23 | €1,478 | €739 | €800 | €400 | ▼ 50.0% |
| Financial fixed assets28 | €4,172 | €4,172 | €4,172 | €4,172 | = |
| Current assets29/58 | €32,335 | €67,178 | €59,948 | €45,756 | ▼ 23.7% |
| Amounts receivable within one year40/41 | €7,819 | €14,470 | €19,339 | €11,597 | ▼ 40.0% |
| Trade receivables40 | €7,819 | €14,470 | €19,289 | €11,597 | ▼ 39.9% |
| Other amounts receivable41 | - | - | €50 | - | - |
| Cash at bank and in hand54/58 | €18,491 | €52,708 | €40,610 | €27,387 | ▼ 32.6% |
| Deferred charges and accrued income490/1 | €6,026 | - | - | €6,772 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €90,603 | €133,695 | €119,032 | €96,945 | ▼ 18.6% |
| Equity10/15 | €73,227 | €99,279 | €86,616 | €83,711 | ▼ 3.4% |
| Profit (loss) carried forward14 | €28,227 | €47,362 | €41,023 | €44,443 | ▲ 8.3% |
| Investment grants15 | €45,000 | €51,917 | €45,593 | €39,269 | ▼ 13.9% |
| Amounts payable17/49 | €17,376 | €34,417 | €32,417 | €13,233 | ▼ 59.2% |
| Amounts payable within one year42/48 | €11,045 | €9,779 | €12,901 | €13,233 | ▲ 2.6% |
| Trade debts44 | €151 | €2,127 | €2,431 | €4,323 | ▲ 77.8% |
| Suppliers440/4 | €151 | €2,127 | €2,431 | €4,323 | ▲ 77.8% |
| Taxes, remuneration and social security45 | €2,012 | €4,310 | €6,776 | €5,216 | ▼ 23.0% |
| Taxes450/3 | €741 | €37 | €685 | €486 | ▼ 29.0% |
| Remuneration and social security454/9 | €1,271 | €4,273 | €6,090 | €4,730 | ▼ 22.3% |
| Accrued charges and deferred income492/3 | €6,331 | €24,637 | €19,515 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,949 | €19,135 | -€6,339 | €3,420 | - |
| + Depreciation and write-downs630 | €6,585 | €8,234 | €8,634 | €7,895 | ▼ 8.6% |
| Operating cash flow (approximation) | €636 | €27,369 | €2,295 | €11,315 | ▲ 393% |
| Investment in fixed assets (approximation) | - | -€16,484 | -€1,200 | €0 | - |
| Change in cash | - | €34,217 | -€12,098 | -€13,223 | ▼ 9.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 13-04-2026 | 2026-00077954 |
| 31-12-2024 | micro format | 19-06-2025 | 2025-00153887 |
| 31-12-2023 | micro format | 02-04-2024 | 2024-00054045 |
| 31-12-2022 | micro format | 05-10-2023 | 2023-00472066 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €15,400 awarded · €10,400 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,900 | €1,900 |
| 2023 | 1 | €5,000 | €0 |
| 2022 | 2 | €8,500 | €8,500 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 10
Show all 10 directors
Day-to-day management 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Anders Böhike |
|
| Sophie Rocca |
|
| Anders Laurent BÖHLKE |
|
| David Berstein |
|
| Dries Segers |
|
| Mirthe Demaerel |
|
| Rune Peitersen |
|
| Tim Vanheers |
|
| Twee-eiige Drieling VOF |
|
| Veerle Melis |
|
| Melchior,Laila |
|
| Caroline Dumalin |
|
| Laura Muyldermans |
|
| Stefanie Salzmann |
|
Owners and capital
Owners
This non-profit association has no shareholders or capital.
Group and network
Connections & network
4 connected companiesHistory
Acts, filings and financial milestones
04-12
Gazette deed
Resignations: Caroline Dumalin, Laura Muyldermans and Stefanie SalzmannReappointments: David Berstein, Mirthe Demaerel and 3 others · Appointments: Tim Vanheers, Dries Segers and 3 others · Registered-office move15 facts ▸
- Registered-office move, Gabrielle Petitstraat 6,1080,Molenbeek,Belgie
- Director resignation, Caroline Dumalin (director)
- Director resignation, Laura Muyldermans (director)
- Director resignation, Stefanie Salzmann (director)
- Director reappointment, David Berstein (director)
- Director reappointment, Mirthe Demaerel (director)
- Director reappointment, Twee-eiige Drieling VOF (director)
- Director reappointment, Sophie Rocca (director)
- Director reappointment, Anders Bohlke (director)
- Director appointment, Tim Vanheers (director)
- Director appointment, Dries Segers (director)
- Director appointment, Veerle Melis (director)
- +3 further facts in this act
24-11
Gazette deed
Appointments: Sophie Rocca (director) and Anders Böhike (director)4 facts ▸
- General meeting, “bestuurswijzigingen, eenparigheid van stemmen” (deed in Dutch)
- Director appointment, Sophie Rocca (director)
- Director appointment, Anders Böhike (director)
- General meeting, “meer dan 2/3 van de leden aanwezig, statutenwijziging” (deed in Dutch)
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 24 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21012F0360/00X003 | Brussels | 5,750 m² | 1 · 4,114 m² | 31.7 m · 6 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Level Five
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Brussels Hoofdstedelijk Gewest, Bestuur bevoegd om zetel binnen België te verplaatsen binnen hetzelfde taalgebied” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Vergoed op voorlegging bewijsstukken, Bestuur” (deed in Dutch)“Coöptatie bestuurders” (deed in Dutch)
Capital, shares and profit
- Membership ruleWho can become a member or partner, and on what terms.
- “Leden en toegetreden leden” (deed in Dutch)“Aantal leden, 3” (deed in Dutch)“Rechten en plichten van leden, per jaar” (deed in Dutch)“Per e-mail aan Bestuur,op elk moment, ontslagneming van leden” (deed in Dutch)“Bestuur schorst lidmaatschap in afwachting van Algemene Vergadering waarop beslist wordt over beëindiging, schorsing van leden” (deed in Dutch)“Geheim, uitsluiting van leden” (deed in Dutch)“Uitsluiting van rechten op bezit, geen enkel lid of toegetreden lid,noch erfgenamen of rechthebbenden van overleden lid,kunnen aanspraak…” (deed in Dutch)“Aansluiting van toegetreden leden, Bestuur beslist autonoom” (deed in Dutch)“Rechten en plichten van toegetreden leden, per jaar” (deed in Dutch)“Op elk moment via mail of brief aan Bestuur, ontslagneming van toegetreden leden” (deed in Dutch)“Beëindiging van lidmaatschap van toegetreden leden, kan op elk moment worden beëindigd door Bestuur” (deed in Dutch)1 more provision on this in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “2/3 leden aanwezig of vertegenwoordigd, elk ogenblik” (deed in Dutch)1 more provision on this in the deed