Modified Spaces
ActiveSummary
The computed 12-month bankruptcy probability of Modified Spaces is 2.0% (moderate). The 2025 annual accounts show negative equity (€-33k) and a net result of €-8k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 21% of 13305 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
35
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability15▲+15
Solvency13▲+13
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.75 against 0.2 in 2024; short-term debt: 112% and cash: 34% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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 2025Solvency, return and age of the figures
Solvency
-12.5%
Return on assets
-3.2%
Age of the figures
12 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-33k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
76 d early
2023
27 d early
2022
2 d early
2021
32 d early
2020
74 d early
2019
122 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-33k▼ 34.0%
2024 · €-25k
2018: €-237k
2019: €-230k
2020: €-241k
2021: €-128k
2022: €-10k
2023: €17k
2024: €-25k
2018 → 2025
Total assets
€268k▲ 2,691%
2024 · €10k
2018: €22k
2019: €33k
2020: €25k
2021: €151k
2022: €45k
2023: €49k
2024: €10k
2018 → 2025
Net result
€-8k▲ 79.9%
2024 · €-42k
2018: €-9k
2019: €7k
2020: €-11k
2021: €114k
2022: €118k
2023: €27k
2024: €-42k
2018 → 2025
Working capital
€-75k▼ 174%
2024 · €-27k
2018: €-237k
2019: €-230k
2020: €-257k
2021: €-140k
2022: €-4k
2023: €11k
2024: €-27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-128k-€-10k▲ 92.4%€17k€-25k€-33k▼ 34.0%
Operating result€114k-€118k▲ 3.7%€26k▼ 77.6%€-42k€-2k▲ 94.3%
Net result€114k-€118k▲ 3.7%€27k▼ 77.1%€-42k€-8k▲ 79.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2025 against €42k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €268k
Fixed assets
€42k ▲ 1,507%
Current assets
€226k ▲ 3,140%
Key figures and ratios
EBITDA
€-1k▲
2024 · €-39k
Cash flow
€-7k▲
2024 · €-39k
Solvency
-12.5%▲
2024 · -259.9%
Current ratio
0.75▲
2024 · 0.20
Quick ratio
0.65▲
2024 · 0.20
Debt to equity
-9.02▼
2024 · -1.38
ROA
-3.2%▲
2024 · -439.7%
Interest coverage
-0.19▲
2024 · -107.60
Debt
€302k▲
2024 · €35k
Debt ≤ 1 year
€300k▲
2024 · €34k
Staff costs
€211k
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 · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€10k€268k▲
Fixed assets21/28€3k€42k▲
Intangible fixed assets21€3k€4k▲
Tangible fixed assets22/27-€38k
Plant, machinery and equipment23-€38k
Financial fixed assets28€0-
Current assets29/58€7k€226k▲
Stocks and contracts in progress3-€30k
Stocks30/36-€30k
Amounts receivable within one year40/41€2k€98k▲
Trade receivables40€0€96k▲
Other amounts receivable41€2k€2k▼
Cash at bank and in hand54/58€5k€91k▲
Deferred charges and accrued income490/1-€6k
Equity and liabilities
Total equity and liabilities10/49€10k€268k▲
Equity10/15€-25k€-33k▼
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-44k€-52k▼
Amounts payable17/49€35k€302k▲
Amounts payable within one year42/48€34k€300k▲
Financial debts43-€998
Credit institutions430/8-€998
Trade debts44€2k€240k▲
Suppliers440/4€2k€240k▲
Taxes, remuneration and social security45€205€27k▲
Taxes450/3€205€693▲
Remuneration and social security454/9-€26k
Other amounts payable47/48€32k€33k▲
Accrued charges and deferred income492/3€387€1k▲
Income statement
Code20242025
Remuneration, social security and pensions62-€211k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€1k▼
Other operating charges640/8€587€2k▲
Gross operating margin9900€-38k€212k▲
Operating profit (loss)9901€-42k€-2k▲
Financial income75/76B€519€68▼
Recurring financial income75€519€68▼
Financial charges65/66B€362€6k▲
Recurring financial charges65€362€6k▲
Profit (loss) for the period before taxes9903€-42k€-8k▲
Profit (loss) for the period9904€-42k€-8k▲
Profit (loss) for the period to be appropriated9905€-42k€-8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-44k€-52k▼
Profit (loss) brought forward from the previous period14P€-1k€-44k▼
The notes to these accounts (10 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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Weakest financial yearnet €-42k ▼256%
Net result drops to €-42k, the lowest in the series; recovery starts the following year.
03-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €118k ▲3.7%
Operating result €118k, net result €118k, both a record.
29-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €114k
Net result €114k after one loss-making year.
15-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
30-09
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
03-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
21-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Gent · 1 establishment unit since 2025
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.
Dublinstraat 31/159000 GentGround area
1.4 ha
Building footprint
4,757 m²
Volume, LiDAR
51,984 m³
2 parcels, Flanders · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Bar Bricolage / Chinastraat
since 20252.372.350.081
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0697/00A003 | Flanders | 9,891 m² | 1 · 1,247 m² | 11.8 m · 3 fl. |
| 44021A3417/00W000 | Flanders | 4,510 m² | 1 · 3,510 m² | 14.7 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.372.350.081
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MORANT
BE 0427.459.501
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BAR KOTEE
BE 0803.496.431
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NEW CHEVALJEE
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Of 14,018 companies in sector 56301 we hold annual accounts for 4,891. 3,927 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-11-2010
Fiscal year end30-09
Activities, NACEBEL 2025
56301Cafés and bars
56309Food and beverage service activities
64210Activities of holding companies
70200Business and other management consultancy
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.