Minsky
ActiveSummary
Minsky has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €142k and a net result of €-3k. Equity is growing by ~22.3% per year across the filed fiscal years. Its solvency ranks better than 40% of 2832 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability68▼-7
Solvency56▼-3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.41 against 1.53 in 2023; short-term debt: 62.8% and cash: 42% of total assets), and 68.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
31.4%
Return on assets
-0.7%
Age of the figures
21 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-07-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
3 d early
2023
29 d early
2022
4 d early
2021
6 d early
2020
5 d late
2019
8 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€142k▼ 2.1%
2023 · €145k
2018: €17klowest in 7 years
2019: €67k▲ +305% vs 2018
2020: €79k▲ +18.1% vs 2019
2021: €94k▲ +19.0% vs 2020
2022: €123k▲ +30.3% vs 2021
2023: €145k▲ +18.0% vs 2022highest in 7 years
2024: €142k▼ -2.1% vs 2023
2018 → 2024
Total assets
€451k▲ 7.4%
2023 · €420k
2018: €209klowest in 7 years
2019: €248k▲ +18.8% vs 2018
2020: €393k▲ +58.2% vs 2019
2021: €445k▲ +13.3% vs 2020
2022: €296k▼ -33.5% vs 2021
2023: €420k▲ +42.1% vs 2022
2024: €451k▲ +7.4% vs 2023highest in 7 years
2018 → 2024
Net result
€-3k
2023 · €22k
2018: €9k
2019: €50k▲ +470% vs 2018highest in 7 years
2020: €12k▼ -75.9% vs 2019
2021: €15k▲ +23.9% vs 2020
2022: €29k▲ +89.5% vs 2021
2023: €22k▼ -22.6% vs 2022
2024: €-3k▼ -114% vs 2023lowest in 7 years
2018 → 2024
Working capital
€116k▼ 8.6%
2023 · €127k
2018: €-3klowest in 7 years
2019: €65k▲ +2597% vs 2018
2020: €71k▲ +9.1% vs 2019
2021: €166k▲ +132% vs 2020highest in 7 years
2022: €135k▼ -18.5% vs 2021
2023: €127k▼ -6.0% vs 2022
2024: €116k▼ -8.6% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€79k-€94k▲ 19.0%€123k▲ 30.3%€145k▲ 18.0%€142k▼ 2.1%
2020: €79klowest in 5 years
2021: €94k▲ +19.0% vs 2020
2022: €123k▲ +30.3% vs 2021
2023: €145k▲ +18.0% vs 2022highest in 5 years
2024: €142k▼ -2.1% vs 2023
Operating result€21k-€25k▲ 19.2%€47k▲ 92.7%€38k▼ 20.4%€3k▼ 92.5%
2020: €21k
2021: €25k▲ +19.2% vs 2020
2022: €47k▲ +92.7% vs 2021highest in 5 years
2023: €38k▼ -20.4% vs 2022
2024: €3k▼ -92.5% vs 2023lowest in 5 years
Net result€12k-€15k▲ 23.9%€29k▲ 89.5%€22k▼ 22.6%€-3k
2020: €12k
2021: €15k▲ +23.9% vs 2020
2022: €29k▲ +89.5% vs 2021highest in 5 years
2023: €22k▼ -22.6% vs 2022
2024: €-3k▼ -114% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 93% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €451k
Fixed assets
€52k ▼ 4.6%
Current assets
€400k ▲ 9.1%
Equity and liabilities €451k
Equity
€142k ▼ 2.1%
Debt
€309k ▲ 12.4%
Debt's share of the balance-sheet total rises from 65.5% to 68.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€19k▼
2023 · €48k
Cash flow
€13k▼
2023 · €32k
Current ratio
1.41▼
2023 · 1.53
Debt to equity
2.18▲
2023 · 1.90
ROE
-2.2%▼
2023 · 15.2%
ROA
-0.7%▼
2023 · 5.3%
Interest coverage
10.09▼
2023 · 53.40
Debt ≤ 1 year
€283k▲
2023 · €239k
Debt > 1 year
€25k▼
2023 · €34k
Income taxes
€4k▼
2023 · €15k
Staff costs
€429k▲
2023 · €331k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€420k€451k▲
Fixed assets21/28€54k€52k▼
Intangible fixed assets21-€2k
Tangible fixed assets22/27€54k€49k▼
Plant, machinery and equipment23€1k€564▼
Furniture and vehicles24€53k€42k▼
Other tangible fixed assets26-€6k
Current assets29/58€366k€400k▲
Amounts receivable within one year40/41€155k€206k▲
Trade receivables40€125k€198k▲
Other amounts receivable41€30k€8k▼
Cash at bank and in hand54/58€206k€190k▼
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€420k€451k▲
Equity10/15€145k€142k▼
Contributions10/11€6k€6k=
Reserves13€53k€53k=
Distributable reserves133€53k€53k=
Profit (loss) carried forward14€86k€83k▼
Amounts payable17/49€275k€309k▲
Amounts payable after more than one year17€34k€25k▼
Financial debts170/4€34k€25k▼
Amounts payable within one year42/48€239k€283k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Trade debts44€161k€176k▲
Suppliers440/4€161k€176k▲
Advances received on contracts in progress46€4k-
Taxes, remuneration and social security45€64k€96k▲
Taxes450/3-€19k
Remuneration and social security454/9€64k€77k▲
Other amounts payable47/48€2k€3k▲
Accrued charges and deferred income492/3€3k€865▼
Income statement
Code20232024
Remuneration, social security and pensions62€331k€429k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€16k▲
Other operating charges640/8€6k€475▼
Gross operating margin9900€385k€448k▲
Operating profit (loss)9901€38k€3k▼
Financial income75/76B€5€54▲
Recurring financial income75€5€54▲
Financial charges65/66B€891€2k▲
Recurring financial charges65€891€2k▲
Profit (loss) for the period before taxes9903€37k€977▼
Income taxes67/77€15k€4k▼
Profit (loss) for the period9904€22k€-3k▼
Profit (loss) for the period to be appropriated9905€22k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€108k€83k▼
Profit (loss) brought forward from the previous period14P€86k€86k=
Transfer to equity691/2€22k-
To other reserves6921€22k-
Social balance
Average headcount (FTE)90875.87.3▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €226k | €283k | €331k | €429k | ▲ 29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €6k | €10k | €16k | ▲ 66.2% |
| Other operating charges640/8 | - | €118 | €96 | €6k | €475 | ▼ 92.5% |
| Gross operating margin9900 | €213k | €257k | €337k | €385k | €448k | ▲ 16.4% |
| Operating profit (loss)9901 | €21k | €25k | €47k | €38k | €3k | ▼ 92.5% |
| Financial income75/76B | - | €5 | €27 | €5 | €54 | ▲ 1,101% |
| Recurring financial income75 | €5 | €5 | €27 | €5 | €54 | ▲ 1,101% |
| Financial charges65/66B | - | €329 | €386 | €891 | €2k | ▲ 113% |
| Recurring financial charges65 | €166 | €329 | €386 | €891 | €2k | ▲ 113% |
| Profit (loss) for the period before taxes9903 | €21k | €24k | €47k | €37k | €977 | ▼ 97.4% |
| Income taxes67/77 | €8k | €9k | €19k | €15k | €4k | ▼ 72.5% |
| Profit (loss) for the period9904 | €12k | €15k | €29k | €22k | €-3k | ▼ 114% |
| Profit (loss) for the period to be appropriated9905 | €12k | €15k | €29k | €22k | €-3k | ▼ 114% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €393k | €445k | €296k | €420k | €451k | ▲ 7.4% |
| Fixed assets21/28 | €8k | €13k | €14k | €54k | €52k | ▼ 4.6% |
| Intangible fixed assets21 | - | - | - | - | €2k | - |
| Tangible fixed assets22/27 | €8k | €13k | €14k | €54k | €49k | ▼ 9.1% |
| Plant, machinery and equipment23 | - | - | €2k | €1k | €564 | ▼ 50.8% |
| Furniture and vehicles24 | - | €12k | €12k | €53k | €42k | ▼ 20.3% |
| Other tangible fixed assets26 | - | €1k | - | - | €6k | - |
| Current assets29/58 | €384k | €432k | €282k | €366k | €400k | ▲ 9.1% |
| Amounts receivable within one year40/41 | €164k | €99k | €102k | €155k | €206k | ▲ 32.8% |
| Trade receivables40 | - | €98k | €101k | €125k | €198k | ▲ 58.0% |
| Other amounts receivable41 | - | €452 | €465 | €30k | €8k | ▼ 72.5% |
| Cash at bank and in hand54/58 | €219k | €330k | €177k | €206k | €190k | ▼ 8.1% |
| Deferred charges and accrued income490/1 | - | €3k | €3k | €5k | €4k | ▼ 17.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €393k | €445k | €296k | €420k | €451k | ▲ 7.4% |
| Equity10/15 | €79k | €94k | €123k | €145k | €142k | ▼ 2.1% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Capital10 | - | €6k | €6k | - | - | - |
| Issued capital100 | - | €19k | €19k | - | - | - |
| Uncalled capital101 | - | €12k | €12k | - | - | - |
| Reserves13 | €2k | €2k | €30k | €53k | €53k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Legal reserve130 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | - | €29k | €53k | €53k | = |
| Profit (loss) carried forward14 | €71k | €86k | €86k | €86k | €83k | ▼ 3.6% |
| Amounts payable17/49 | €313k | €351k | €173k | €275k | €309k | ▲ 12.4% |
| Amounts payable after more than one year17 | - | - | - | €34k | €25k | ▼ 25.2% |
| Financial debts170/4 | - | - | - | €34k | €25k | ▼ 25.2% |
| Amounts payable within one year42/48 | €313k | €266k | €146k | €239k | €283k | ▲ 18.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8k | €8k | ▲ 4.3% |
| Trade debts44 | €270k | €208k | €57k | €161k | €176k | ▲ 9.5% |
| Suppliers440/4 | - | €208k | €57k | €161k | €176k | ▲ 9.5% |
| Advances received on contracts in progress46 | - | - | €5 | €4k | - | - |
| Taxes, remuneration and social security45 | - | €57k | €85k | €64k | €96k | ▲ 49.7% |
| Taxes450/3 | - | €14k | €33k | - | €19k | - |
| Remuneration and social security454/9 | - | €42k | €52k | €64k | €77k | ▲ 20.4% |
| Other amounts payable47/48 | - | €2k | €5k | €2k | €3k | ▲ 24.7% |
| Accrued charges and deferred income492/3 | - | €84k | €27k | €3k | €865 | ▼ 67.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €15k | €29k | €22k | €-3k | ▼ 114% |
| + Depreciation and write-downs630 | €6k | €6k | €6k | €10k | €16k | ▲ 66.2% |
| Operating cash flow (approximation) | €18k | €21k | €34k | €32k | €13k | ▼ 58.5% |
| Investment in fixed assets (approximation) | - | €-10k | €-7k | €-50k | €-14k | ▲ 72.2% |
| Change in cash | - | €111k | €-153k | €29k | €-17k | ▼ 157% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €100kEq €123k ▲30.3%
5 profitable years in a row build equity to €123k.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 5 days late
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €50k ▲470%
Operating result €76k, net result €50k, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
09-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Brussel · 1 establishment unit since 2014
Ground area
410 m²
Building footprint
362 m²
Volume, LiDAR
5,871 m³
Parcel 21812N0746/00E000, Brussels · tallest building 19.8 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Bloemenstraat 32, 1000 Brussel
since 20142.230.270.025
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N0746/00E000 | Brussels | 410 m² | 1 · 362 m² | 19.8 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 915 EUR awarded · 915 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 915 EUR | 915 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 16,879 companies in sector 62100 we hold annual accounts for 8,771. 6,875 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-04-2014
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
62200Computer consultancy and computer facilities management
63910Web portal activities
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
Website
www.minsky.beBrussel
Scores and ratios are computed by Checked and are not a credit decision.