P18
ActiveP18 has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €442k and a net result of €95k. Equity is growing by ~34.8% per year across the filed fiscal years. Its solvency ranks better than 50% of 629 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▼-20
Solvency68▼-12
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 3.94 against 3.09 in 2024; short-term debt: 12.3% and cash: 39.1% of total assets), but 57.5% 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.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Sector 74
lower
← fewer bankruptcies
more bankruptcies →
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
42.5%
Return on assets
9.2%
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 · 4 filingsDeviation from the deadline
2025
3 d late
2024
14 d early
2023
62 d late
2022
31 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€442k▲ 26.9%
2024 · €349k
2022: €176k
2023: €176k
2024: €349k
2022 → 2025
Total assets
€1.04M▲ 65.3%
2024 · €630k
2022: €337k
2023: €277k
2024: €630k
2022 → 2025
Net result
€95k▼ 45.4%
2024 · €175k
2022: €167k
2023: €2k
2024: €175k
2022 → 2025
Working capital
€375k▼ 6.7%
2024 · €402k
2022: €169k
2023: €132k
2024: €402k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€176k-€176k▲ 0.1%€349k▲ 98.2%€442k▲ 26.9%
Operating result€219k-€6k▼ 97.4%€228k▲ 3,984%€141k▼ 38.3%
Net result€167k-€2k▼ 98.9%€175k▲ 9,364%€95k▼ 45.4%
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 falls in 2025; 2025 is 38% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.04M
Fixed assets
€538k▲ 1,438%
Current assets
€503k▼ 15.5%
Equity and liabilities €1.04M
Equity
€442k▲ 26.9%
Debt
€598k▲ 113%
The debt ratio rises from 44.6% to 57.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€226k▼
2024 · €235k
Cash flow
€180k▼
2024 · €182k
Solvency
42.5%▼
2024 · 55.4%
Current ratio
3.94▲
2024 · 3.09
Quick ratio
3.58▲
2024 · 2.98
Debt / equity
1.35▲
2024 · 0.80
ROE
21.5%▼
2024 · 50.0%
ROA
9.2%▼
2024 · 27.7%
Interest coverage
9.65▼
2024 · 46.25
Debt
€598k▲
2024 · €281k
Debt ≤ 1 year
€128k▼
2024 · €193k
Debt > 1 year
€392k
Income taxes
€26k▼
2024 · €55k
Staff costs
€0▼
2024 · €11k
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€630k€1.04M▲
Fixed assets21/28€35k€538k▲
Tangible fixed assets22/27€35k€538k▲
Land and buildings22-€455k
Plant, machinery and equipment23€8k€7k▼
Furniture and vehicles24€14k€26k▲
Other tangible fixed assets26€13k€50k▲
Financial fixed assets28€0-
Current assets29/58€595k€503k▼
Stocks and contracts in progress3€20k€46k▲
Stocks30/36€20k€46k▲
Amounts receivable within one year40/41€357k€49k▼
Trade receivables40€208k€25k▼
Other amounts receivable41€149k€23k▼
Cash at bank and in hand54/58€207k€407k▲
Deferred charges and accrued income490/1€10k€418▼
Equity and liabilities
Total equity and liabilities10/49€630k€1.04M▲
Equity10/15€349k€442k▲
Contributions10/11€10k€10k=
Reserves13€339k€432k▲
Tax-exempt reserves132€84k€126k▲
Distributable reserves133€255k€306k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€281k€598k▲
Amounts payable after more than one year17-€392k
Financial debts170/4-€392k
Amounts payable within one year42/48€193k€128k▼
Current portion of amounts payable after more than one year42-€16k
Financial debts43€0€198▲
Credit institutions430/8€0€198▲
Trade debts44€26k€2k▼
Suppliers440/4€26k€2k▼
Advances received on contracts in progress46€93k€0▼
Taxes, remuneration and social security45€70k€24k▼
Taxes450/3€70k€24k▼
Other amounts payable47/48€4k€86k▲
Accrued charges and deferred income492/3€88k€79k▼
Income statement
Code20242025
Non-recurring operating income76A€0€7k▲
Remuneration, social security and pensions62€11k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€85k▲
Other operating charges640/8€4k€3k▼
Gross operating margin9900€250k€229k▼
Operating profit (loss)9901€228k€141k▼
Financial income75/76B€6k€4k▼
Recurring financial income75€6k€4k▼
Financial charges65/66B€5k€23k▲
Recurring financial charges65€5k€23k▲
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€229k€122k▼
Income taxes67/77€55k€26k▼
Profit (loss) for the period9904€175k€95k▼
Transfer to tax-exempt reserves689€84k€42k▼
Profit (loss) for the period to be appropriated9905€90k€53k▼
Appropriation of the result
Profit (loss) to be appropriated9906€90k€53k▼
Transfer to equity691/2€89k€52k▼
To other reserves6921€89k€52k▼
Profit to be distributed694/7€2k€2k▼
Return on contributions (dividend)694€2k€2k▼
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (17 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 · abbreviated schema · 3 days late
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2022net €175k ▲9364%
Operating result €228k, net result €175k, both a record.
31-12
Financial
Equity above €200kEq €349k ▲98.2%
3 profitable years in a row build equity to €349k.
01-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 62 days late
2023
31-12
Financial
Weakest financial yearnet €2k ▼98.9%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Antwerpen · 1 establishment unit since 2022
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.
Italiëlei 642000 AntwerpenGround area
242 m²
Building footprint
171 m²
Volume, LiDAR
2,421 m³
Parcel 11802B1361/00D004, Flanders · tallest building 21.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Joost Vandebrug
since 20222.327.251.417
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11802B1361/00D004 | Flanders | 242 m² | 1 · 171 m² | 21.9 m · 5 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
MARY-LAW OFFICE
BE 0875.990.766
Meise · Eq €443k
MONA LISA
BE 0457.164.661
Schaarbeek · Eq €444k
STIJN RAES
BE 0893.296.853
Sint-Martens-Latem · Eq €439k
ATTOUT & SCIAMANNA, avocats associés
BE 0474.544.487
Fontaine-l'Evêque · Eq €439k
maxius
BE 0870.947.954
Leuven · Eq €439k
Of 3,842 companies in sector 74111 we hold annual accounts for 1,008. 770 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-01-2022
Fiscal year end31-12
Activities, NACEBEL
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
90201Performing arts by independent artists
90031Arts creation and performing arts activities
90111Literary creation
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:Joostvandebrug@gmail.com
Phone:+447581496452