N48
ActiveThe computed 12-month bankruptcy probability of N48 is 2.2% (moderate). The annual accounts of N48 for fiscal year 2025 show a net loss of 69% of the equity at the start of that year. The 2025 annual accounts show equity of €706 and a net result of €-2k. Equity is shrinking by ~26.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 33% of 4559 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
38
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability6▼-78
Solvency31▼-49
Growth58▼-20
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
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 tight (current ratio 1.06; short-term debt: 94.2% and cash: 98.2% of total assets), and 94.2% 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.
+raises risk○neutral
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
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
5.8%
Return on assets
-12.7%
Age of the figures
9 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 03-08-2026, 3 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 · 3 filingsDeviation from the deadline
2025
3 d late
2024
32 d late
2023
27 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€706▼ 68.9%
2024 · €2k
2023: €2k
2024: €2k
2023 → 2025
Total assets
€12k▲ 198%
2024 · €4k
2023: €5k
2024: €4k
2023 → 2025
Net result
€-2k
2024 · €766
2023: €-3k
2024: €766
2023 → 2025
Working capital
€706▼ 68.9%
2024 · €2k
2023: €2k
2024: €2k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€2k-€2k▲ 51.0%€706▼ 68.9%
Operating result€-3k-€1k€-1k
Net result€-3k-€766€-2k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1k after €1k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €12k
Equity
€706▼ 68.9%
Debt
€12k▲ 524%
The debt ratio rises from 45.0% to 94.2%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
5.8%
Current ratio
1.06
Quick ratio
1.04
ROA
-12.7%
Debt
€12k▲
2024 · €2k
Debt ≤ 1 year
€12k▲
2024 · €2k
Staff costs
€8k▲
2024 · €718
Equity ratios withheld: equity of €706 is too small for a meaningful ratio.
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€4k€12k▲
Current assets29/58€4k€12k▲
Stocks and contracts in progress3€285€215▼
Stocks30/36€285€215▼
Amounts receivable within one year40/41€371-
Other amounts receivable41€371-
Cash at bank and in hand54/58€3k€12k▲
Equity and liabilities
Total equity and liabilities10/49€4k€12k▲
Equity10/15€2k€706▼
Contributions10/11€5k€5k=
Profit (loss) carried forward14€-3k€-4k▼
Amounts payable17/49€2k€12k▲
Amounts payable within one year42/48€2k€12k▲
Trade debts44-€1k
Suppliers440/4-€1k
Taxes, remuneration and social security45€2k€5k▲
Taxes450/3€1k€4k▲
Remuneration and social security454/9€610€1k▲
Other amounts payable47/48-€5k
Income statement
Code20242025
Remuneration, social security and pensions62€718€8k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€4k€8k▲
Operating profit (loss)9901€1k€-1k▼
Financial charges65/66B€542€484▼
Recurring financial charges65€542€484▼
Profit (loss) for the period before taxes9903€766€-2k▼
Profit (loss) for the period9904€766€-2k▼
Profit (loss) for the period to be appropriated9905€766€-2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€-4k▼
Profit (loss) brought forward from the previous period14P€-3k€-3k▲
The notes to these accounts (1 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
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 3 days late
2025
01-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 32 days late
2024
31-12
Financial
Back to profitnet €766
Net result €766 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Liège · 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.
Rue du Moulin 484020 LiègeGround area
190 m²
Building footprint
68 m²
Volume, LiDAR
761 m³
Parcel 62020A0508/00R004, Wallonia · tallest building 13.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
N48
since 20252.374.900.686
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62020A0508/00R004 | Wallonia | 190 m² | 1 · 68 m² | 13.7 m · 4 fl. |
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.
Similar companies · same sector, comparable size
HAYAL
BE 0821.719.959
Schaarbeek · Eq €703
TAKING CARE OF BUSINESS DEPAUW
BE 0479.211.177
Sint-Genesius-Rode · Eq €710
GLOBAL MAST
BE 0737.793.381
Sint-Gillis (bij-Brussel) · Eq €715
KAPPER RIF
BE 1024.359.788
Vilvoorde · Eq €722
UVERDIL
BE 0722.660.688
Brussel · Eq €678
Of 21,751 companies in sector 96210 we hold annual accounts for 2,826. 839 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-03-2023
Fiscal year end31-12
Activities, NACEBEL
96021Hairdressing
96210Hairdressing and barber services
47750Retail sale of cosmetics and toilet articles
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.