PROPELLERS
ActiveSummary
PROPELLERS has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €182k and a net result of €-38k. Equity is growing by ~30.6% per year across the filed fiscal years. Its solvency ranks better than 82% of 2284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity short (current ratio 0.32 against 2.4 in 2024; short-term debt: 19.4% and cash: 0.1% of total assets), and 19.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-38k
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
14 d early
2023
15 d early
2022
7 d early
2021
21 d late
2020
23 d late
2019
69 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-38k▼ 10.4%
2024 · €-34k
2018: €-29k
2019: €-10k▲ +66.5% vs 2018
2020: €17k▲ +274% vs 2019
2021: €47k▲ +182% vs 2020highest in 8 years
2022: €36k▼ -24.6% vs 2021
2023: €43k▲ +20.6% vs 2022
2024: €-34k▼ -180% vs 2023
2025: €-38k▼ -10.4% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-30k
2024 · €35k
2018: €16k
2019: €14k▼ -9.4% vs 2018
2020: €39k▲ +173% vs 2019
2021: €56k▲ +42.9% vs 2020
2022: €70k▲ +24.0% vs 2021
2023: €108k▲ +54.6% vs 2022highest in 8 years
2024: €35k▼ -67.5% vs 2023
2025: €-30k▼ -185% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€101k-€137k▲ 35.3%€180k▲ 31.5%€220k▲ 21.9%€182k▼ 17.3%
2021: €101klowest in 5 years
2022: €137k▲ +35.3% vs 2021
2023: €180k▲ +31.5% vs 2022
2024: €220k▲ +21.9% vs 2023highest in 5 years
2025: €182k▼ -17.3% vs 2024
Operating result€53k-€49k▼ 7.6%€56k▲ 15.8%€-35k€-38k▼ 10.2%
2021: €53k
2022: €49k▼ -7.6% vs 2021
2023: €56k▲ +15.8% vs 2022highest in 5 years
2024: €-35k▼ -161% vs 2023
2025: €-38k▼ -10.2% vs 2024lowest in 5 years
Net result€47k-€36k▼ 24.6%€43k▲ 20.6%€-34k€-38k▼ 10.4%
2021: €47khighest in 5 years
2022: €36k▼ -24.6% vs 2021
2023: €43k▲ +20.6% vs 2022
2024: €-34k▼ -180% vs 2023
2025: €-38k▼ -10.4% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €38k in 2025 against €35k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225k
Fixed assets
€212k ▲ 14.5%
Current assets
€14k ▼ 77.0%
Equity and liabilities €225k
Equity
€182k ▼ 17.3%
Debt
€44k ▲ 73.9%
Debt's share of the balance-sheet total rises from 10.3% to 19.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-11k▲
2024 · €-13k
Cash flow
€-11k▲
2024 · €-13k
Current ratio
0.32▼
2024 · 2.40
Debt to equity
0.24▲
2024 · 0.11
ROE
-20.9%▼
2024 · -15.7%
ROA
-16.9%▼
2024 · -14.1%
Interest coverage
-64.53▲
2024 · -85.10
Debt ≤ 1 year
€44k▲
2024 · €25k
Income taxes
€3
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 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€245k€225k▼
Fixed assets21/28€185k€212k▲
Tangible fixed assets22/27€185k€212k▲
Land and buildings22€13k€12k▼
Other tangible fixed assets26€172k€199k▲
Current assets29/58€60k€14k▼
Amounts receivable within one year40/41€28k€14k▼
Trade receivables40€13k-
Other amounts receivable41€16k€14k▼
Cash at bank and in hand54/58€32k€189▼
Equity and liabilities
Total equity and liabilities10/49€245k€225k▼
Equity10/15€220k€182k▼
Contributions10/11€86k€86k=
Outside capital11€86k€86k=
Other1109/19€86k€86k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€132k€94k▼
Amounts payable17/49€25k€44k▲
Amounts payable within one year42/48€25k€44k▲
Trade debts44€12k€158▼
Suppliers440/4€12k€158▼
Taxes, remuneration and social security45€13k-
Taxes450/3€13k-
Other amounts payable47/48€630€44k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€27k▲
Other operating charges640/8€724-
Gross operating margin9900€-12k€-11k▲
Operating profit (loss)9901€-35k€-38k▼
Financial income75/76B€245€210▼
Recurring financial income75€245€210▼
Financial charges65/66B€153€174▲
Recurring financial charges65€153€174▲
Profit (loss) for the period before taxes9903€-34k€-38k▼
Income taxes67/77-€3
Profit (loss) for the period9904€-34k€-38k▼
Profit (loss) for the period to be appropriated9905€-34k€-38k▼
Appropriation of the result
Profit (loss) to be appropriated9906€132k€94k▼
Profit (loss) brought forward from the previous period14P€166k€132k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €7k | €8k | €22k | €27k | ▲ 25.0% |
| Other operating charges640/8 | €423 | €426 | €476 | €724 | - | - |
| Gross operating margin9900 | €57k | €56k | €65k | €-12k | €-11k | ▲ 9.1% |
| Operating profit (loss)9901 | €53k | €49k | €56k | €-35k | €-38k | ▼ 10.2% |
| Financial income75/76B | €0 | - | €280 | €245 | €210 | ▼ 14.3% |
| Recurring financial income75 | €0 | - | €280 | €245 | €210 | ▼ 14.3% |
| Financial charges65/66B | €255 | €153 | €163 | €153 | €174 | ▲ 13.2% |
| Recurring financial charges65 | €255 | €153 | €163 | €153 | €174 | ▲ 13.2% |
| Profit (loss) for the period before taxes9903 | €52k | €49k | €57k | €-34k | €-38k | ▼ 10.4% |
| Income taxes67/77 | €5k | €13k | €13k | - | €3 | - |
| Profit (loss) for the period9904 | €47k | €36k | €43k | €-34k | €-38k | ▼ 10.4% |
| Profit (loss) for the period to be appropriated9905 | €47k | €36k | €43k | €-34k | €-38k | ▼ 10.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €135k | €157k | €199k | €245k | €225k | ▼ 8.0% |
| Fixed assets21/28 | €45k | €68k | €72k | €185k | €212k | ▲ 14.5% |
| Tangible fixed assets22/27 | €45k | €68k | €72k | €185k | €212k | ▲ 14.5% |
| Land and buildings22 | €14k | €14k | €13k | €13k | €12k | ▼ 3.6% |
| Other tangible fixed assets26 | €31k | €55k | €59k | €172k | €199k | ▲ 15.9% |
| Current assets29/58 | €90k | €88k | €127k | €60k | €14k | ▼ 77.0% |
| Amounts receivable within one year40/41 | €13k | €34k | €28k | €28k | €14k | ▼ 51.7% |
| Trade receivables40 | €13k | €14k | €10k | €13k | - | - |
| Other amounts receivable41 | - | €20k | €17k | €16k | €14k | ▼ 13.4% |
| Cash at bank and in hand54/58 | €77k | €54k | €99k | €32k | €189 | ▼ 99.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €135k | €157k | €199k | €245k | €225k | ▼ 8.0% |
| Equity10/15 | €101k | €137k | €180k | €220k | €182k | ▼ 17.3% |
| Contributions10/11 | €12k | €12k | €12k | €86k | €86k | = |
| Outside capital11 | - | €12k | €12k | €86k | €86k | = |
| Other1109/19 | - | €12k | €12k | €86k | €86k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €87k | €123k | €166k | €132k | €94k | ▼ 28.9% |
| Amounts payable17/49 | €34k | €19k | €19k | €25k | €44k | ▲ 73.9% |
| Amounts payable within one year42/48 | €34k | €19k | €19k | €25k | €44k | ▲ 73.9% |
| Trade debts44 | €23k | €209 | €211 | €12k | €158 | ▼ 98.7% |
| Suppliers440/4 | €23k | €209 | €211 | €12k | €158 | ▼ 98.7% |
| Taxes, remuneration and social security45 | €11k | €18k | €19k | €13k | - | - |
| Taxes450/3 | €11k | €18k | €19k | €13k | - | - |
| Other amounts payable47/48 | - | €266 | €251 | €630 | €44k | ▲ 6,814% |
| Accrued charges and deferred income492/3 | - | €878 | €30 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47k | €36k | €43k | €-34k | €-38k | ▼ 10.4% |
| + Depreciation and write-downs630 | €4k | €7k | €8k | €22k | €27k | ▲ 25.0% |
| Operating cash flow (approximation) | €51k | €43k | €51k | €-13k | €-11k | ▲ 13.8% |
| Investment in fixed assets (approximation) | - | €-30k | €-12k | €-134k | €-54k | ▲ 59.9% |
| Change in cash | - | €-23k | €45k | €-67k | €-32k | ▲ 52.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-38k
Net result drops to €-38k, the lowest in the series.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200kEq €220k ▲21.9%
Equity rises from €180k to €220k.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €180k ▲31.5%
4 profitable years in a row build equity to €180k.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
21-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 21 days late
2021
31-12
Financial
Highest result since 2018net €47k ▲182%
Net result €47k, the highest in the series.
31-12
Financial
Equity above €100kEq €101k ▲87.9%
2 profitable years in a row build equity to €101k.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
31-12
Financial
Back to profitnet €17k
Net result €17k after 2 loss-making years.
Show earlier events
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 69 days late
2019
25-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 25 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Elsene · 1 establishment unit since 2012
Ground area
232 m²
Building footprint
207 m²
Volume, LiDAR
6,008 m³
Parcel 21443A0088/00S008, Brussels · tallest building 33.3 m, ±10 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
PROPELLERS
since 20122.212.875.054
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21443A0088/00S008 | Brussels | 232 m² | 1 · 207 m² | 33.3 m · 10 fl. |
Linked by address, not proof of ownership
Good to know
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 24,497 companies in sector 82990 we hold annual accounts for 9,406. 7,041 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
73110Advertising agencies
73300Public relations and communication consultancy
74999Other professional, scientific and technical activities
Scores and ratios are computed by Checked and are not a credit decision.