Checked.be
Active
BE 0847.313.311Coöperatieve vennootschap met beperkte aansprakelijkheid
OLSTAR
Menisberg 39 ·1654 Beersel, Belgium· 14 yrs active
Sector: Media representation
(73120)
Conclusion
OLSTAR has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-12k) and a net result of €-11k. Equity is shrinking by ~236.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 854 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €-12k |
| Net result | €-11k |
| Better than sector | 5% |
| Active | 14 yrs |
Financial profile
54
/ 100
Mixed profile: strong on profitability, weaker on health.
All 5 axes are computed from data Checked has read.
Health
7
Profitability
100
Solvency
33
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2012, 14 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
7
/ 100
Critical
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
No credit
negative equity or figures too weak
Score history
30
2023
12
2024
7
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.38 (< 1.0)
-10
Quick ratio
Quick ratio 0.38 (< 0.6)
-5
Equity
Negative equity
-25
Profitability
ROE 92% (≥ 10%)
+10
Interest coverage
Interest coverage -31.3× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 19-01-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Net result: declining trend of ~110.1%/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 2025 · NACE 73, Advertising, market research and public relations activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -152.4% | 56.9% | |
| Net result | €-11k | €27k | |
| Equity | €-12k | €53k | |
| Gross operating margin | €-6k | €50k | |
| Total assets | €8k | €121k |
€-10k
-286.8%
23-25
€-11k
-167.1%
23-25
€-10k
-254.8%
23-25
€8k
-51.7%
23-25
€-12k
-1192.3%
23-25
€-13k
-456.4%
23-25
€21k
+15.2%
23-25
€21k
+15.2%
23-25
0.38
-56.0%
23-25
0.38
-56.0%
23-25
-152.4%
-2578.3%
23-25
-1.66
+91.1%
23-25
92.3%
-79.3%
23-25
-140.6%
-453.5%
23-25
-31.25
-290.8%
23-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | micro schema | micro schema | abbreviated schema |
| Revenue | - | - | - |
| EBITDA | €-10k | €-3k | €-560 |
| Net profit | €-11k | €-4k | €-2k |
| Cash flow | €-10k | €-3k | €-891 |
| Staff costs | - | - | - |
| Income taxes | - | - | - |
| Dividends | - | - | - |
| Total assets | €8k | €17k | €20k |
| Equity | €-12k | €-958 | €3k |
| Debt | €21k | €18k | €17k |
| of which ≤ 1y | €21k | €18k | €17k |
| of which > 1y | - | - | - |
| Working capital | €-13k | €-2k | €650 |
| Employees (FTE) | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, abbreviated schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 0.38 | 0.87 | 1.04 |
| Quick ratio | 0.38 | 0.87 | 1.04 |
| Working capital ratio | -155.4% | -13.5% | 3.3% |
| Solvency | -152.4% | -5.7% | 16.6% |
| Debt / equity | -1.66 | -18.57 | 5.02 |
| Long-term debt ratio | - | - | - |
| Interest coverage | -31.25 | -8.00 | -1.69 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | -140.6% | -25.4% | -10.0% |
| ROE | 92.3% | 446.4% | -60.4% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (21 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €8k | €17k | €20k |
| Fixed assets | 21/28 | €246 | €1k | €3k |
| Tangible fixed assets | 22/27 | €246 | €1k | €3k |
| Current assets | 29/58 | €8k | €16k | €17k |
| Amounts receivable within one year | 40/41 | €7k | €9k | €9k |
| Cash & bank | 54/58 | €870 | €6k | €8k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €8k | €17k | €20k |
| Equity | 10/15 | €-12k | €-958 | €3k |
| Contributions / capital | 10/11 | €27k | €27k | €27k |
| Reserves | 13 | €9k | €9k | €9k |
| Accumulated profits (losses) | 14 | €-48k | €-37k | €-33k |
| Amounts payable | 17/49 | €21k | €18k | €17k |
| Amounts payable within one year | 42/48 | €21k | €18k | €17k |
| Trade debts payable within one year | 44 | €2k | €691 | €595 |
| Income statement | ||||
| Gross operating margin | 9900 | €-6k | €-2k | €-22 |
| Operating result | 9901 | €-11k | €-4k | €-2k |
| Financial income | 75 | €0 | - | - |
| Financial charges | 65 | €321 | €324 | €331 |
| Result before taxes | 9903 | €-11k | €-4k | €-2k |
| Net result for the period | 9904 | €-11k | €-4k | €-2k |
| Result to be appropriated | 9905 | €-11k | €-4k | €-2k |
Legal Structure
| NACE primary | Media representation(73120) |
| Legal form | Coöperatieve vennootschap met beperkte aansprakelijkheid(008) |
| Incorporation | 29-06-2012 |
| Status | Active |
| Postal code | 1654 |
Establishment units
Menisberg 39, 1654 Beersel
since 20122.211.403.822
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23035A0236/00K002 | Flanders | 609 m² | 1 · 102 m² | 10.1 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
Next filing, fiscal year 2026, expected by
2026
19-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series.
21-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
20-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
21-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 6 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
Media representation73120
Names & trade names
| Legal nameFR | OLSTAR |
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