NORTHWARD
ActiveNORTHWARD has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €250k and a net result of €138k. Equity is growing by ~40.4% per year across the filed fiscal years. Its solvency ranks better than 55% of 1973 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+22
Solvency81▲+38
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity ample (current ratio 1.98 against 1.16 in 2024; short-term debt: 44.3% and cash: 8.6% of total assets), and 44.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
55.7%
Return on assets
30.7%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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 · 10 filingsDeviation from the deadline
2025
2 d late
2024
150 d late
2023
on the day
2022
on the day
2021
92 d late
2019
8 d early
2018
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close16-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€138k▲ 89.5%
2024 · €73k
2019: €17k
2021: €15k
2022: €13k
2023: €15k
2024: €73k
2019 → 2025
Working capital
€195k▲ 55.6%
2024 · €125k
2019: €20k
2021: €38k
2022: €54k
2023: €63k
2024: €125k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€90k-€103k▲ 14.1%€118k▲ 14.7%€166k▲ 40.4%€250k▲ 51.2%
Operating result€19k-€19k▼ 2.9%€18k▼ 5.4%€85k▲ 378%€183k▲ 115%
Net result€15k-€13k▼ 16.7%€15k▲ 18.8%€73k▲ 380%€138k▲ 89.5%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 115% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €449k
Fixed assets
€55k▲ 36.2%
Current assets
€394k▼ 56.1%
Equity and liabilities €449k
Equity
€250k▲ 51.2%
Debt
€199k▼ 74.2%
The debt ratio falls from 82.3% to 44.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€199k▲
2024 · €110k
Cash flow
€153k▲
2024 · €97k
Solvency
55.7%▲
2024 · 17.7%
Current ratio
1.98▲
2024 · 1.16
Quick ratio
1.98▲
2024 · 1.16
Debt / equity
0.79▼
2024 · 4.66
ROE
55.0%▲
2024 · 43.9%
ROA
30.7%▲
2024 · 7.8%
Interest coverage
38.20▲
2024 · 18.09
Debt
€199k▼
2024 · €772k
Debt ≤ 1 year
€199k▼
2024 · €771k
Income taxes
€49k▲
2024 · €19k
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€937k€449k▼
Fixed assets21/28€41k€55k▲
Intangible fixed assets21€3k€2k▼
Tangible fixed assets22/27€38k€54k▲
Furniture and vehicles24€37k€25k▼
Other tangible fixed assets26€1k€29k▲
Current assets29/58€897k€394k▼
Amounts receivable within one year40/41€840k€356k▼
Trade receivables40€715k€213k▼
Other amounts receivable41€125k€143k▲
Cash at bank and in hand54/58€56k€38k▼
Deferred charges and accrued income490/1€933€32▼
Equity and liabilities
Total equity and liabilities10/49€937k€449k▼
Equity10/15€166k€250k▲
Contributions10/11€23k€23k=
Reserves13€92k€177k▲
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Distributable reserves133€91k€176k▲
Profit (loss) carried forward14€51k€51k=
Amounts payable17/49€772k€199k▼
Amounts payable within one year42/48€771k€199k▼
Current portion of amounts payable after more than one year42€7k€7k=
Trade debts44€715k€127k▼
Suppliers440/4€715k€127k▼
Taxes, remuneration and social security45€24k€40k▲
Taxes450/3€24k€40k▲
Other amounts payable47/48€25k€25k=
Accrued charges and deferred income492/3€340-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€16k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€112k€201k▲
Operating profit (loss)9901€85k€183k▲
Financial income75/76B€13k€9k▼
Recurring financial income75€13k€9k▼
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Profit (loss) for the period before taxes9903€92k€187k▲
Income taxes67/77€19k€49k▲
Profit (loss) for the period9904€73k€138k▲
Profit (loss) for the period to be appropriated9905€73k€138k▲
Appropriation of the result
Profit (loss) to be appropriated9906€124k€189k▲
Profit (loss) brought forward from the previous period14P€51k€51k=
Transfer to equity691/2€48k€113k▲
To other reserves6921€48k€113k▲
Profit to be distributed694/7€25k€25k=
Directors or managers695€25k€25k=
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
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
30-06
Financial
Highest result since 2019net €138k ▲89.5%
Operating result €183k, net result €138k, both a record.
30-06
Financial
Equity above €200kEq €250k ▲51.2%
6 profitable years in a row build equity to €250k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 150 days late
2024
30-06
Financial
Equity above €150kEq €166k ▲40.4%
5 profitable years in a row build equity to €166k.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
Financial
Weakest financial yearnet €13k ▼16.7%
Net result drops to €13k, the lowest in the series; recovery starts the following year.
30-06
Financial
Equity above €100kEq €103k ▲14.1%
3 profitable years in a row build equity to €103k.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 92 days late
2020
23-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 78 days late
2017
16-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
06-01
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
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, Elsene · 1 establishment unit since 2007
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.
Louizalaan 3671050 ElseneGround area
1,726 m²
Building footprint
944 m²
Volume, LiDAR
9,284 m³
2 parcels, Brussels, Flanders · tallest building 34.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
NORTHWARD
since 20072.163.991.014
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22004C0496/00F013 | Flanders | 1,459 m² | 1 · 678 m² | 11.1 m · 3 fl. |
| 21807G0211/00W012 | Brussels | 266 m² | 1 · 265 m² | 34.0 m · 5 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.
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Of 2,275 companies in sector 90202 we hold annual accounts for 413. 289 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded17-07-2007
Fiscal year end30-06
Activities, NACEBEL
90202Performing arts by artistic ensembles
92312
90393Specialised image, lighting and sound technical services
92313
Sources
Crossroads Bank for EnterprisesNational Bank · 17 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.