M18X
ActiveM18X has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €58k and a net result of €85k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 16935 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency45▼-55
Growth58▼-20
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.65 against 4.36 in 2024), and 66.6% 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 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
33.4%
Return on assets
48.7%
Age of the figures
8 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
on the day
2023
31 d early
2022
29 d late
2021
30 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€58k▼ 59.6%
2024 · €143k
2021: €79k
2022: €160k
2023: €276k
2024: €143k
2021 → 2025
Total assets
€174k▲ 12.4%
2024 · €154k
2021: €145k
2022: €279k
2023: €332k
2024: €154k
2021 → 2025
Net result
€85k▼ 28.0%
2024 · €117k
2021: €77k
2022: €81k
2023: €116k
2024: €117k
2021 → 2025
Working capital
€-41k
2024 · €37k
2021: €73k
2022: €79k
2023: €174k
2024: €37k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€79k-€160k▲ 103%€276k▲ 72.4%€143k▼ 48.0%€58k▼ 59.6%
Operating result€99k-€104k▲ 5.5%€153k▲ 46.8%€151k▼ 1.7%€117k▼ 22.5%
Net result€77k-€81k▲ 5.4%€116k▲ 42.4%€117k▲ 1.4%€85k▼ 28.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €174k
Fixed assets
€99k▼ 7.2%
Current assets
€75k▲ 55.6%
Equity and liabilities €174k
Equity
€58k▼ 59.6%
Debt
€116k▲ 946%
The debt ratio rises from 7.2% to 66.6%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€127k▼
2024 · €160k
Cash flow
€94k▼
2024 · €126k
Solvency
33.4%▼
2024 · 92.8%
Current ratio
0.65▼
2024 · 4.36
Quick ratio
0.65▼
2024 · 4.36
Debt / equity
2.00▲
2024 · 0.08
ROE
146.0%▲
2024 · 81.9%
ROA
48.7%▼
2024 · 76.1%
Interest coverage
30.25▼
2024 · 59.63
Debt
€116k▲
2024 · €11k
Debt ≤ 1 year
€116k▲
2024 · €11k
Income taxes
€28k▼
2024 · €31k
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€154k€174k▲
Fixed assets21/28€106k€99k▼
Tangible fixed assets22/27€106k€99k▼
Land and buildings22€78k€75k▼
Plant, machinery and equipment23€945€702▼
Furniture and vehicles24€20k€16k▼
Other tangible fixed assets26€7k€7k▼
Current assets29/58€48k€75k▲
Amounts receivable within one year40/41€23k€27k▲
Trade receivables40€12k€20k▲
Other amounts receivable41€12k€7k▼
Cash at bank and in hand54/58€14k€36k▲
Deferred charges and accrued income490/1€11k€12k▲
Equity and liabilities
Total equity and liabilities10/49€154k€174k▲
Equity10/15€143k€58k▼
Contributions10/11€2k€2k=
Reserves13€142k€56k▼
Distributable reserves133€142k€56k▼
Amounts payable17/49€11k€116k▲
Amounts payable within one year42/48€11k€116k▲
Trade debts44€11k€627▼
Suppliers440/4€11k€627▼
Taxes, remuneration and social security45-€12k
Taxes450/3-€12k
Other amounts payable47/48-€103k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€10k▲
Other operating charges640/8€939€745▼
Gross operating margin9900€161k€127k▼
Operating profit (loss)9901€151k€117k▼
Financial income75/76B€395€365▼
Recurring financial income75€395€365▼
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€148k€113k▼
Income taxes67/77€31k€28k▼
Profit (loss) for the period9904€117k€85k▼
Profit (loss) for the period to be appropriated9905€117k€85k▼
Appropriation of the result
Profit (loss) to be appropriated9906€117k€85k▼
Transfer from equity791/2€250k€140k▼
Transfer to equity691/2€117k€55k▼
To other reserves6921€117k€55k▼
Profit to be distributed694/7€250k€170k▼
Return on contributions (dividend)694€250k€170k▼
The notes to these accounts (5 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2021net €117k ▲1.4%
Net result €117k, the highest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 4.11
Current ratio from 1.66 to 4.11; short-term debt falls from €119k to €56k.
31-12
Financial
Equity above €200kEq €276k ▲72.4%
3 profitable years in a row build equity to €276k.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Equity above €150kEq €160k ▲103%
2 profitable years in a row build equity to €160k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Sint-Niklaas · 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.
Zonnestraat 939100 Sint-NiklaasGround area
489 m²
Building footprint
108 m²
Parcel 46017B0114/00D000, Flanders. Linked by address, not a title deed.
1 establishment unit
M18X
since 20202.306.769.173
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46017B0114/00D000 | Flanders | 489 m² | 1 · 108 m² | 0.0 m |
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 29,889 companies in sector 62200 we hold annual accounts for 18,319. 15,374 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-09-2020
Fiscal year end31-12
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryWebsite:m18x.com