Protealis
ActiveProtealis has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.06M and a net result of €-4.98M. Equity is growing by ~14.3% per year across the filed fiscal years. Its solvency ranks better than 78% of 211 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth52▼-26
Stability94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €470k at 30 days acceptable
Liquidity ample (current ratio 11.05 against 20.96 in 2024), and 18.5% of the assets are financed with debt.
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 · 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 72
Relative position
BE, all sectors
reference
Sector 72
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
81.5%
Return on assets
-44.8%
Age of the figures
8 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year -€5M
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 05-06-2026, 56 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
56 d early
2024
65 d early
2023
63 d early
2022
81 d early
← 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€9.06M▼ 35.5%
2024 · €14.04M
2022: €6.14M
2023: €6.88M
2024: €14.04M
2022 → 2025
Total assets
€11.12M▼ 31.3%
2024 · €16.18M
2022: €8.05M
2023: €8.29M
2024: €16.18M
2022 → 2025
Net result
€-4.98M▼ 29.6%
2024 · €-3.84M
2022: €-3.90M
2023: €-3.30M
2024: €-3.84M
2022 → 2025
Working capital
€9.26M▼ 33.7%
2024 · €13.97M
2022: €5.50M
2023: €5.69M
2024: €13.97M
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€6.14M-€6.88M▲ 12.1%€14.04M▲ 104%€9.06M▼ 35.5%
Operating result€-4.07M-€-3.54M▲ 12.9%€-4.41M▼ 24.6%€-5.32M▼ 20.4%
Net result€-3.90M-€-3.30M▲ 15.4%€-3.84M▼ 16.5%€-4.98M▼ 29.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5.32M in 2025 against €4.41M in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.12M
Fixed assets
€938k▼ 37.9%
Current assets
€10.18M▼ 30.6%
Equity and liabilities €11.12M
Equity
€9.06M▼ 35.5%
Debt
€2.06M▼ 3.7%
The debt ratio rises from 13.2% to 18.5%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-1.00M▼
2024 · €-639k
Cash flow
€-668k▼
2024 · €-67k
Solvency
81.5%▼
2024 · 86.8%
Current ratio
11.05▼
2024 · 20.96
Quick ratio
10.88▼
2024 · 20.74
Debt / equity
0.23▲
2024 · 0.15
ROE
-54.9%▼
2024 · -27.4%
ROA
-44.8%▼
2024 · -23.7%
Interest coverage
-179.34▼
2024 · -89.16
Debt
€2.06M▼
2024 · €2.14M
Debt ≤ 1 year
€921k▲
2024 · €700k
Income taxes
€-121k▲
2024 · €-153k
Staff costs
€2.08M▲
2024 · €1.64M
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€16.18M€11.12M▼
Fixed assets21/28€1.51M€938k▼
Intangible fixed assets21€514k€73k▼
Tangible fixed assets22/27€998k€864k▼
Plant, machinery and equipment23€937k€768k▼
Furniture and vehicles24€47k€62k▲
Other tangible fixed assets26€14k€35k▲
Current assets29/58€14.67M€10.18M▼
Amounts receivable after more than one year29€1.33M€1.06M▼
Other amounts receivable291€1.33M€1.06M▼
Stocks and contracts in progress3€160k€163k▲
Stocks30/36€160k€163k▲
Amounts receivable within one year40/41€896k€1.15M▲
Trade receivables40€18k€89k▲
Other amounts receivable41€877k€1.06M▲
Current investments50/53€11.50M€6.50M▼
Cash at bank and in hand54/58€669k€1.25M▲
Deferred charges and accrued income490/1€112k€53k▼
Equity and liabilities
Total equity and liabilities10/49€16.18M€11.12M▼
Equity10/15€14.04M€9.06M▼
Contributions10/11€17.88M€17.88M=
Capital10€17.88M€17.88M=
Issued capital100€17.88M€17.88M=
Profit (loss) carried forward14€-3.84M€-8.82M▼
Amounts payable17/49€2.14M€2.06M▼
Amounts payable within one year42/48€700k€921k▲
Trade debts44€414k€601k▲
Suppliers440/4€414k€601k▲
Taxes, remuneration and social security45€285k€320k▲
Taxes450/3€10k€10k▲
Remuneration and social security454/9€275k€310k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€1.44M€1.14M▼
Income statement
Code20242025
Non-recurring operating income76A-€34k
Remuneration, social security and pensions62€1.64M€2.08M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3.77M€4.31M▲
Other operating charges640/8€10k€7k▼
Non-recurring operating charges66A€25k€400▼
Gross operating margin9900€1.03M€1.08M▲
Operating profit (loss)9901€-4.41M€-5.32M▼
Financial income75/76B€426k€220k▼
Recurring financial income75€426k€220k▼
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€-3.99M€-5.10M▼
Income taxes67/77€-153k€-121k▲
Profit (loss) for the period9904€-3.84M€-4.98M▼
Profit (loss) for the period to be appropriated9905€-3.84M€-4.98M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-11.04M€-8.82M▲
Profit (loss) brought forward from the previous period14P€-7.20M€-3.84M▲
Transfer from equity791/2€7.20M€0▼
Social balance
Average headcount (FTE)908715.117.2▲
The notes to these accounts (13 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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
25-03
State Gazette act
Resignations & appointmentsBoard meeting · Director resignation · Director appointment8 facts ▸
State Gazette act
Resignations & appointments
Board meeting · Director resignation · Director appointment8 facts ▸
- Board meeting, 05/03/2026
- Director resignation, Johan Cardoen (bestuurder)
- Director appointment, Tom Viaene (bestuurder)
- Permanent representative, Benjamin Laga
- Permanent representative, Caaj Greebe
- Permanent representative, François van Lierde
- Permanent representative, David Buckeridge
- Permanent representative, Vincent De Smet
2025
31-12
Financial
Weakest financial yearnet €-4.98M
Net result drops to €-4.98M, the lowest in the series.
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 20.96
Current ratio from 10.00 to 20.96.
31-12
Financial
Equity above €10MEq €14.04M ▲104%
Equity rises from €6.88M to €14.04M.
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
11-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
Tom Viaene
CurrentDirector · since 01-04-2026
01-04-2026
Tom Viaene: Appointed as Director
17-12-2025
Johan Cardoen: Resigned as Director
Location & real-estate footprint
Registered office, Gent · 2 establishment units since 2021
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.
Technologiepark-Zwijnaarde 949052 GentGround area
1.7 ha
Building footprint
2,953 m²
Volume, LiDAR
29,058 m³
2 parcels, Flanders · tallest building 15.3 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Protealis
since 20212.316.069.295
Protealis
since 20212.325.710.701
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44082B0081/00F000 | Flanders | 1.2 ha | 1 · 1,291 m² | 15.3 m · 5 fl. |
| 44003A0057/00F000 | Flanders | 5,026 m² | 1 · 1,662 m² | 8.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 19 entries · 2,706,100 EUR awarded · 1,444,122 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 10 | 403,591 EUR | 477,591 EUR |
| 2024 | 5 | 1,567,793 EUR | 573,570 EUR |
| 2023 | 3 | 2,961 EUR | 197,961 EUR |
| 2022 | 1 | 731,755 EUR | 195,000 EUR |
Schemes
Onderzoeksproject
Ontwikkelingsproject
Baekeland-mandaat
Subsidie 'Schaalklaar'
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Show 2 more
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteGavere2.325.710.701
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Of 756 companies in sector 72101 we hold annual accounts for 478. 146 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-03-2021
Fiscal year end31-12
Activities, NACEBEL
72101Research and development on biotechnology
72109Other research and development on natural sciences
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.