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MINDQUEST

Active
Private limited companyfounded 200421 years activeGalgestraat 3, 8610 Kortemark, BelgiumKBO/BCE: BE 0869.744.956
Summary

The computed 12-month bankruptcy probability of MINDQUEST is 1.8% (moderate). The annual accounts of MINDQUEST for fiscal year 2025 show a net loss of 65% of total assets and of 89% of the equity at the start of that year. The 2025 annual accounts show equity of €2,598 and a net result of -€21,005. Equity is shrinking by ~13.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 24% of 312 sector peers (NACE 61, fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.

Overview

Activity
Wired, wireless and satellite telecommunications
NACE 61100Computer programming NACE 62100
1 site
Size
€309,342turnover 2025
Staff
1 FTE
Equity
€2,598
Loss
-€21,005
Financial health
53 Fair Checked score 2025
Bankruptcy probability, 12 months
1.8%
Structure
Accounts 107 days early0 of 4 deeds read
Why 53- Loss of €21,005 (FY 2025)- 1 change of registered office in 24 months- Sector Telecommunications (NACE 61)+ Size: turnover €309,342, total assets €32,390Show the evidence

Checked score

Score 2025
53 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 28% of its sector peers (NACE 61, micro)
Financial strength · tick = 2024
Weak
Solvency 33-31
equity 8.0% of total assets
Liquidity 51+6
short-term debt 61.4% · cash 26.3%
Profitability 1-76
return on assets -64.9%
Bankruptcy probability, 12 months
1.8% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.9% (525 companies)
Last 24 months 11-2024: 0.9% 12-2024: 0.9%● unchanged vs 11-2024 01-2025: 0.9%● unchanged vs 12-2024 02-2025: 0.9%● unchanged vs 01-2025 03-2025: 1.0%▲ +0.1 percentage points vs 02-2025 04-2025: 2.0%▲ +1.0 percentage point vs 03-2025 05-2025: 2.0%● unchanged vs 04-2025highest value 06-2025: 2.0%● unchanged vs 05-2025 07-2025: 0.9%▼ -1.1 percentage points vs 06-2025lowest value 08-2025: 0.9%● unchanged vs 07-2025lowest value 09-2025: 0.9%● unchanged vs 08-2025lowest value 10-2025: 0.9%● unchanged vs 09-2025lowest value 11-2025: 0.9%● unchanged vs 10-2025lowest value 12-2025: 0.9%● unchanged vs 11-2025lowest value 01-2026: 0.9%● unchanged vs 12-2025lowest value 02-2026: 0.9%● unchanged vs 01-2026lowest value 03-2026: 1.0%▲ +0.1 percentage points vs 02-2026 04-2026: 1.0%● unchanged vs 03-2026 05-2026: 1.8%▲ +0.8 percentage points vs 04-2026 06-2026: 1.8%● unchanged vs 05-2026 07-2026: 1.8%● unchanged vs 06-2026 08-2026: 1.8%● unchanged vs 07-2026 09-2026: 1.8%● unchanged vs 08-2026 10-2026: 1.8%● unchanged vs 09-2026
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 0.87 against 1.53 in 2024; short-term debt: 61.4% and cash: 26.3% of total assets), and 92% of the assets are financed with debt.
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 61, micro): better than 25% on solvency, 52% on liquidity, 16% on profitability and 20% on growth.

The bankruptcy probability was computed on 06-10-2026 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).

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Signals

Six signals.
−lowers risk+raises risk○neutral
raises risk · Loss of €21,005 (FY 2025)
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian State Gazette
raises risk · Sector Telecommunications (NACE 61)
KBO
lowers risk · Size: turnover €309,342, total assets €32,390
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 312 sector peers (2025).
NBB · sector comparison
Position among 312 sector peers
Solvency
better than 24%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-04-2026, 107 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
107 days early
2024
36 days early
2023
28 days early
2022
40 days early
2021
67 days early
2020
37 days early
2019
32 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 50 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.

Checked, nothing found (2)
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. Usually files around 21 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
07-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · micro…
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Back to profitnet €12,366

Key points

  • Caution: Among the weakest 10% on net resultsector median €6,785 · 311 companies -€21,005 View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Turnover 20253 fiscal years filed €309,342 View

By topic

Financials

Fiscal year
2025
Turnover
€309,342
Loss
-€21,005
Solvency
8.0%
Turnover▼ 7.3%
Net result
20232025
Go to Financials

Timeline

Events
15
Since
2017
Next accounts
by 31-07-2027
  1. 03-07-2024Annual accounts filed
  2. 31-12-2023Weakest financial year
  3. 21-06-2023Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Wired, wireless and satellite telecommunicationsNACE 61100
Founded
29-10-2004
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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