NPA
ActiveNPA has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-577k) and a net result of €-82k. Equity is shrinking by ~40.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 820 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
5
/ 100
Critical▲ +5 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability24▼-9
Solvency33=
Growth38▼-20
Stability100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.38 against 0.48 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Nine 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 41
Relative position
BE, all sectors
reference
Sector 41
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
-62.1%
Return on assets
-8.8%
Age of the figures
18 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
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€577k
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-12-2025, 58 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
58 d late
2024
90 d late
2023
4 d early
2022
38 d early
2021
4 d early
2020
16 d late
2019
25 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close15-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
€92k▼ 80.6%
2024 · €474k
2024: €474k
2024 → 2025
EBIT margin
-63.7%▼ 49.2pp
2024 · -14.4%
2024: -14.4%
2024 → 2025
Net result
€-82k▲ 25.3%
2024 · €-109k
2019: €-507k
2020: €-300k
2021: €50k
2022: €-394k
2023: €-68k
2024: €-109k
2019 → 2025
Working capital
€-928k▼ 10.0%
2024 · €-843k
2019: €-10k
2020: €-267k
2021: €-227k
2022: €-661k
2023: €-747k
2024: €-843k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€474k€92k▼ 80.6%
Equity€92k-€-318k€-386k▼ 21.4%€-496k▼ 28.3%€-577k▼ 16.5%
Operating result€58k-€-401k€-44k▲ 89.0%€-68k▼ 55.7%€-58k▲ 14.7%
Net result€50k-€-394k€-68k▲ 82.7%€-109k▼ 60.0%€-82k▲ 25.3%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €58k in 2025 against €68k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €930k
Fixed assets
€351k▲ 0.9%
Current assets
€579k▼ 24.2%
Key figures and ratios
EBITDA
€-39k▲
2024 · €-53k
Cash flow
€-63k▲
2024 · €-93k
Solvency
-62.1%▼
2024 · -44.6%
Current ratio
0.38▼
2024 · 0.48
Quick ratio
0.22▼
2024 · 0.32
Debt / equity
-2.61▲
2024 · -3.24
ROE
14.1%▼
2024 · 22.0%
ROA
-8.8%▲
2024 · -9.8%
Interest coverage
-1.62▼
2024 · -1.26
Debt
€1.51M▼
2024 · €1.61M
Debt ≤ 1 year
€1.51M▼
2024 · €1.61M
Income taxes
€245
Staff costs
€88k▼
2024 · €174k
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€1.11M€930k▼
Fixed assets21/28€348k€351k▲
Tangible fixed assets22/27€259k€260k▲
Land and buildings22€225k€225k=
Plant, machinery and equipment23€33k€34k▲
Furniture and vehicles24€1k€908▼
Financial fixed assets28€89k€91k▲
Current assets29/58€764k€579k▼
Stocks and contracts in progress3€243k€243k=
Stocks30/36€243k€243k=
Amounts receivable within one year40/41€327k€336k▲
Trade receivables40€96k€109k▲
Other amounts receivable41€231k€227k▼
Cash at bank and in hand54/58€195k€644▼
Equity and liabilities
Total equity and liabilities10/49€1.11M€930k▼
Equity10/15€-496k€-577k▼
Contributions10/11€546k€546k=
Capital10€546k€546k=
Issued capital100€546k€546k=
Reserves13€287k€287k=
Non-distributable reserves130/1€115k€115k=
Legal reserve130€55k€55k=
Other1319€60k€60k=
Tax-exempt reserves132€38k€38k=
Distributable reserves133€135k€135k=
Profit (loss) carried forward14€-1.33M€-1.41M▼
Amounts payable17/49€1.61M€1.51M▼
Amounts payable within one year42/48€1.61M€1.51M▼
Financial debts43€150k€150k=
Credit institutions430/8€150k€150k=
Trade debts44€346k€233k▼
Suppliers440/4€346k€233k▼
Advances received on contracts in progress46€1k€1k=
Taxes, remuneration and social security45€77k€11k▼
Taxes450/3-€11k
Remuneration and social security454/9€77k-
Other amounts payable47/48€1.03M€1.11M▲
Income statement
Code20242025
Turnover70€474k€92k▼
Goods, raw materials, services and sundry goods60/61€327k€37k▼
Remuneration, social security and pensions62€174k€88k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€19k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€5k-
Other operating charges640/8€21k€8k▼
Gross operating margin9900€147k€56k▼
Operating profit (loss)9901€-68k€-58k▲
Financial income75/76B€1k€1k▲
Recurring financial income75€1k€1k▲
Financial charges65/66B€42k€24k▼
Recurring financial charges65€42k€24k▼
Profit (loss) for the period before taxes9903€-109k€-81k▲
Income taxes67/77-€245
Profit (loss) for the period9904€-109k€-82k▲
Profit (loss) for the period to be appropriated9905€-109k€-82k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.33M€-1.41M▼
Profit (loss) brought forward from the previous period14P€-1.22M€-1.33M▼
Social balance
Average headcount (FTE)90874.31.2▼
The notes to these accounts (9 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
20-03
State Gazette act
Registered office · Resignations & appointmentsGeneral meeting · Registered-office move · Director reappointment5 facts ▸
State Gazette act
Registered office · Resignations & appointments
General meeting · Registered-office move · Director reappointment5 facts ▸
- General meeting, 07/03/2026
- Registered-office move, Menuchenet 45, 6834 Bellevaux (Bouillon)
- Director reappointment, Michelle ADAM (administrateur)
- Director reappointment, Katherine PONCELET (administrateur)
- Director reappointment, Noël PONCELET (administrateur-délégué)
2025
28-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 58 days late
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 90 days late
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
23-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Back to profitnet €50k
Net result €50k after 2 loss-making years.
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 16 days late
2019
25-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 25 days late
2018
19-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2017
27-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26040046). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Katherine PONCELET
CurrentDirector · since 07-03-2026
Michelle ADAM
CurrentDirector · since 07-03-2026
Noël PONCELET
CurrentManaging director · since 07-03-2026
07-03-2026
Katherine PONCELET: Mandate renewed as Director
07-03-2026
Michelle ADAM: Mandate renewed as Director
07-03-2026
Noël PONCELET: Mandate renewed as Managing director
21-10-2020
Frank PONCELET: Resigned as Director
21-10-2020
Frank PONCELET: Resigned as Managing director
Location & real-estate footprint
Registered office, Bouillon · 1 establishment unit since 1996
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.
Menuchenet,Bellevaux 456834 BouillonGround area
2,008 m²
Building footprint
779 m²
Volume, LiDAR
7,976 m³
Parcel 84008A0001/00S005, Wallonia · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Menuchenet,Bellevaux 45, 6834 Bouillon
since 19962.078.627.054
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84008A0001/00S005 | Wallonia | 2,008 m² | 1 · 779 m² | 13.6 m · 3 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.
Recognitions · licences · registrations
Recognised contractor
7 categoriesNPA SA06288
Similar companies · same sector, comparable size
LUIS B
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PMBEL
BE 0797.081.167
Kraainem · Eq €92k
Renovatiewerken Dewever Olivier
BE 0720.605.971
Gent · Eq €92k
Algemene Bouwonderneming Sterckx
BE 0465.758.267
Aarschot · Eq €92k
Of 29,535 companies in sector 41001 we hold annual accounts for 15,872. 13,028 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-09-1996
Fiscal year end31-03
Activities, NACEBEL
41001General construction of residential buildings
45211
42110Construction of roads and motorways
43110Demolition
43410Roofing work
45111
45220
45230
47521Retail sale of hardware, building materials, paint and glass (general range)
52462
81230Other cleaning activities
90031
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.