Checked.be
Active
BE 0467.056.285Private limited company
MINUS
Sint-Jansstraat 25 ·8970 Poperinge, Belgium· 26 yrs active
Sector: Activities of interior architects
(71112)
Conclusion
MINUS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.01M and a net result of €63k. Equity is growing by ~8.6% per year across the filed fiscal years. Its solvency ranks better than 55% of 1933 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €1.01M |
| Net result | €63k |
| Staff (FTE) | 16 |
| Better than sector | 55% |
Financial profile
68
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
76
Profitability
31
Solvency
81
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1999, 26 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
76
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€75k
estimate, not credit advice
Score history
69
2022
84
2023
76
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.41 (≥ 1.0)
+5
Leverage
Debt/equity 0.98 (< 1.0)
+10
Profitability
ROE 6%
+3
Interest coverage
Interest coverage 14.6× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 26-06-2025 with the NBB · fiscal year 2024 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~8.6%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 71, Architectural and engineering activities; technical testing and analysis · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 48.6% | 44.1% | |
| Net result | €63k | €31k | |
| Equity | €1.01M | €268k | |
| Gross operating margin | €1.40M | €167k | |
| Staff costs | €1.04M | €234k |
€336k
-26.0%
22-24
€63k
-59.5%
22-24
€276k
-23.2%
22-24
€2.09M
-16.0%
22-24
€1.01M
+2.3%
22-24
€225k
+24.3%
22-24
16
-5.9%
22-24
€1.04M
-2.2%
22-24
€48k
-35.7%
22-24
€40k
+421.2%
22-24
€992k
-29.7%
22-24
€552k
-30.5%
22-24
€436k
-28.9%
22-24
1.41
+14.6%
22-24
0.92
+5.7%
22-24
48.6%
+21.7%
22-24
0.98
-31.3%
22-24
6.2%
-60.4%
22-24
3.0%
-51.8%
22-24
14.56
-26.5%
22-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - |
| EBITDA | €336k | €454k | €312k |
| Net profit | €63k | €155k | €83k |
| Cash flow | €276k | €360k | €274k |
| Staff costs | €1.04M | €1.06M | €832k |
| Income taxes | €48k | €75k | €25k |
| Dividends | €40k | €8k | €0 |
| Total assets | €2.09M | €2.48M | €2.26M |
| Equity | €1.01M | €991k | €844k |
| Debt | €992k | €1.41M | €1.33M |
| of which ≤ 1y | €552k | €794k | €747k |
| of which > 1y | €436k | €614k | €584k |
| Working capital | €225k | €181k | €178k |
| Employees (FTE) | 16.0 | 17.0 | 15.9 |
Ratios (computed)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Current ratio | 1.41 | 1.23 | 1.24 |
| Quick ratio | 0.92 | 0.87 | 0.83 |
| Working capital ratio | 10.8% | 7.3% | 7.9% |
| Solvency | 48.6% | 39.9% | 37.4% |
| Debt / equity | 0.98 | 1.42 | 1.58 |
| Long-term debt ratio | 0.43 | 0.62 | 0.69 |
| Interest coverage | 14.56 | 19.82 | 19.67 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 3.0% | 6.3% | 3.7% |
| ROE | 6.2% | 15.7% | 9.8% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2024
Full annual accounts (28 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €2.09M | €2.48M | €2.26M |
| Fixed assets | 21/28 | €1.31M | €1.51M | €1.33M |
| Intangible fixed assets | 21 | €6k | €9k | €12k |
| Tangible fixed assets | 22/27 | €1.30M | €1.49M | €1.31M |
| Financial fixed assets | 28 | €6k | €6k | €6k |
| Current assets | 29/58 | €777k | €975k | €925k |
| Stocks & contracts in progress | 3 | €268k | €283k | €305k |
| Amounts receivable within one year | 40/41 | €219k | €427k | €235k |
| Investments | 50/53 | €96k | €120k | - |
| Cash & bank | 54/58 | €171k | €127k | €378k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.09M | €2.48M | €2.26M |
| Equity | 10/15 | €1.01M | €991k | €844k |
| Contributions / capital | 10/11 | €40k | €40k | €40k |
| Reserves | 13 | €974k | €951k | €804k |
| Accumulated profits (losses) | 14 | €0 | - | €0 |
| Provisions & deferred taxes | 16 | €81k | €81k | €82k |
| Amounts payable | 17/49 | €992k | €1.41M | €1.33M |
| Amounts payable after one year | 17 | €436k | €614k | €584k |
| Amounts payable within one year | 42/48 | €552k | €794k | €747k |
| Trade debts payable within one year | 44 | €322k | €261k | €138k |
| Income statement | ||||
| Gross operating margin | 9900 | €1.40M | €1.55M | €1.16M |
| Operating result | 9901 | €122k | €249k | €122k |
| Financial income | 75 | €11k | €3k | €5k |
| Financial charges | 65 | €23k | €23k | €16k |
| Result before taxes | 9903 | €110k | €229k | €111k |
| Income taxes | 67/77 | €48k | €75k | €25k |
| Net result for the period | 9904 | €63k | €155k | €83k |
| Result to be appropriated | 9905 | €65k | €158k | €71k |
Legal Structure
| NACE primary | Activities of interior architects(71112) |
| Legal form | Private limited company(610) |
| Incorporation | 13-10-1999 |
| Status | Active |
| Postal code | 8970 |
Establishment units
MINUS
since 20002.097.047.354
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33021E0268/00K000 | Flanders | 5,764 m² | 1 · 988 m² | 9.2 m · 2 fl. |
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.
Updates
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €63k ▼59.5%
Net result drops to €63k, the lowest in the series.
31-12
Financial
Equity above €1MEq €1.01M ▲2.3%
3 profitable years in a row build equity to €1.01M.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 91 days late
2023
31-12
Financial
Highest result since 2022net €155k ▲87%
Operating result €249k, net result €155k, both a record.
15-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 10 days late
2020
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
22-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
23-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
20300Joinery installation4332045421Activities of interior architects71112Manufacture of other builders' carpentry and joinery16230
Names & trade names
| Legal nameNL | MINUS |
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