Pixel Fuel
ActiveSummary
Pixel Fuel has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22k and a net result of €54k. Equity is shrinking by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 27% of 679 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability95▲+15
Solvency33▼-67
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.81 against 2.96 in 2024; short-term debt: 91.2% and cash: 66.6% of total assets), and 91.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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 58
Relative position
BE, all sectors
reference
Sector 58
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
8.5%
Return on assets
20.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-05-2026, 80 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
80 d early
2024
59 d early
2023
54 d early
2022
32 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€22k▼ 88.6%
2024 · €193k
2022: €113k
2023: €172k
2024: €193k
2022 → 2025
Total assets
€259k▲ 9.2%
2024 · €238k
2022: €159k
2023: €234k
2024: €238k
2022 → 2025
Net result
€54k▲ 144%
2024 · €22k
2022: €112k
2023: €59k
2024: €22k
2022 → 2025
Working capital
€-45k
2024 · €88k
2022: €-27k
2023: €53k
2024: €88k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€113k-€172k▲ 51.7%€193k▲ 12.4%€22k▼ 88.6%
Operating result€143k-€75k▼ 47.2%€33k▼ 56.2%€71k▲ 114%
Net result€112k-€59k▼ 47.0%€22k▼ 62.6%€54k▲ 144%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 114% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €259k
Fixed assets
€68k ▼ 35.1%
Current assets
€191k ▲ 44.4%
Equity and liabilities €259k
Equity
€22k ▼ 88.6%
Debt
€237k ▲ 432%
Debt's share of the balance-sheet total rises from 18.8% to 91.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€109k▲
2024 · €68k
Cash flow
€93k▲
2024 · €57k
Current ratio
0.81▼
2024 · 2.96
Debt to equity
10.81▲
2024 · 0.23
ROE
246.3%▲
2024 · 11.5%
ROA
20.8%▲
2024 · 9.3%
Interest coverage
55.43▲
2024 · 46.02
Debt ≤ 1 year
€237k▲
2024 · €45k
Income taxes
€15k▲
2024 · €9k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€238k€259k▲
Fixed assets21/28€105k€68k▼
Tangible fixed assets22/27€105k€68k▼
Furniture and vehicles24€100k€64k▼
Other tangible fixed assets26€5k€4k▼
Current assets29/58€132k€191k▲
Amounts receivable within one year40/41€16k€18k▲
Trade receivables40€16k€16k=
Other amounts receivable41-€2k
Cash at bank and in hand54/58€117k€173k▲
Deferred charges and accrued income490/1-€234
Equity and liabilities
Total equity and liabilities10/49€238k€259k▲
Equity10/15€193k€22k▼
Contributions10/11€2k€2k=
Reserves13€191k€20k▼
Distributable reserves133€191k€20k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€45k€237k▲
Amounts payable within one year42/48€45k€237k▲
Trade debts44€529€1k▲
Suppliers440/4€529€1k▲
Taxes, remuneration and social security45€33k€18k▼
Taxes450/3€33k€18k▼
Other amounts payable47/48€11k€217k▲
Accrued charges and deferred income492/3-€918
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€39k▲
Other operating charges640/8€505€624▲
Gross operating margin9900€68k€110k▲
Operating profit (loss)9901€33k€71k▲
Financial income75/76B€19€0▼
Recurring financial income75€19€0▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€32k€69k▲
Income taxes67/77€9k€15k▲
Profit (loss) for the period9904€22k€54k▲
Profit (loss) for the period to be appropriated9905€22k€54k▲
Appropriation of the result
Profit (loss) to be appropriated9906€22k€54k▲
Transfer from equity791/2-€225k
Transfer to equity691/2€21k€54k▲
To other reserves6921€21k€54k▲
Profit to be distributed694/7€859€225k▲
Return on contributions (dividend)694€859€225k▲
The notes to these accounts (5 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
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €22k ▼62.6%
Net result drops to €22k, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity quadruplescurrent ratio 1.86
Current ratio from 0.41 to 1.86.
31-12
Financial
Equity above €150kEq €172k ▲51.7%
2 profitable years in a row build equity to €172k.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
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, Edegem · 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.
Leopold III-lei 232650 EdegemGround area
2,544 m²
Building footprint
143 m²
Volume, LiDAR
877 m³
Parcel 11472B0127/00H006, Flanders · tallest building 12.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Pixel Fuel
since 20222.333.590.762
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11472B0127/00H006 | Flanders | 2,544 m² | 1 · 143 m² | 12.0 m · 2 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.
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Of 169 companies in sector 58210 we hold annual accounts for 59. 47 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-07-2022
Fiscal year end31-12
Activities, NACEBEL 2025
58210Publishing activities
58290Other software publishing
62100Computer programming
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.