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PUBLIROUTE

Active
Public limited company·Activiteiten van reclamebureaus· 35 yrs active
Poverstraat 88 ·1731 Asse, Belgium
KBO/BCE: BE 0441.679.701
Watch Print / PDF
Age35 yrs
Board4
Staff (FTE)23
Connections16
Real estate1 parcel · 4,608 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of PUBLIROUTE is 0.2% (very low). The 2025 annual accounts show equity of €11.78M and a net result of €-31k. Equity is growing by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 76 sector peers (fiscal year 2025). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Filing behaviour

From the deposit records, complete market-wide
Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-05-2026, 79 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
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.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 13-05-2026 79 d early 2026-00119529
31-12-2024 31-07-2025 07-08-2025 7 d late 2025-00369793
31-12-2023 31-07-2024 31-05-2024 61 d early 2024-00118794
31-12-2022 31-07-2023 15-06-2023 46 d early 2023-00127523
31-12-2021 31-07-2022 12-05-2022 80 d early 2022-20033171
31-12-2020 31-07-2021 17-05-2021 75 d early 2021-14700472
31-12-2019 31-07-2020 08-07-2020 23 d early 2020-28300143
31-12-2018 31-07-2019 29-08-2019 29 d late 2019-56500141
31-12-2017 31-07-2018 29-06-2018 32 d early 2018-29900180
31-12-2016 31-07-2017 25-07-2017 6 d early 2017-37900147

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Long-established
Founded in 1990, 35 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.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
0.2% Very low
0%0,5%1,5%4%10%≥25%
Long track record −Lower-risk legal form −Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-31k
Working capital€14.48M+1.9%

Annual accounts & ratios

Source: NBB · 2025
Annual accounts filed on 13-05-2026 with the NBB · fiscal year 2025 · verkort
€-2.50M€0€2.50M€5.00M€7.50MOperating result 2019: €623k€623kNet result 2019: €8.18M€8.18MOperating result 2021: €1.08M€1.08MNet result 2021: €660k€660kOperating result 2022: €620k€620kNet result 2022: €511k€511kOperating result 2023: €443k€443kNet result 2023: €734k€734kOperating result 2025: €-395k€-395kNet result 2025: €-31k€-31k20192021202220232025
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~5.5%/year over 6 fiscal years, indicative, assuming unchanged policy.
€8.00M€10.00M€12.00M€14.00M€16.00M2026: €12.95M (€12.01M - €13.90M)2027: €13.67M (€12.72M - €14.61M)2028: €14.42M (€13.48M - €15.36M)2018: €8.44M2019: €8.75M2021: €9.94M2022: €10.46M2023: €11.19M2025: €11.78M201820192021202220232025202620272028
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 · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency 68.6% 46.1%
better than 72% of 76 sector peers
Net result €-31k €52k
better than 6% of 76 sector peers
Equity €11.78M €279k
better than 95% of 76 sector peers
Gross operating margin €3.79M €133k
better than 95% of 75 sector peers
Staff costs €2.22M €272k
higher than 95% of 37 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
Solvency P72
2021: P76 · n=1272022: P70 · n=1902023: P69 · n=2182025: P72 · n=762021 2025
Stable position over 2021-2025 · n=76-218
Net result P6
2021: P95 · n=1272022: P95 · n=1892023: P95 · n=2172025: P6 · n=762021 2025
Weakening position over 2021-2025 · n=76-217
Equity P95
2021: P95 · n=1272022: P95 · n=1902023: P95 · n=2182025: P95 · n=762021 2025
Stable position over 2021-2025 · n=76-218
Gross operating margin P95
2021: P95 · n=1252022: P95 · n=1882023: P95 · n=2162025: P95 · n=752021 2025
Stable position over 2021-2025 · n=75-216
Describes the position versus peers, not a forecast.
EBITDA
€-311k
- 18-25
Net profit
€-31k
- 18-25
Cash flow
€54k
-93.3% 18-25
Total assets
€17.19M
+4.2% 18-25
Equity
€11.78M
+5.3% 18-25
Working capital
€14.48M
+1.9% 18-25
Employees (FTE)
23
-20.4% 18-25
Staff costs
€2.22M
-4.3% 18-25
Income taxes
€-45k
- 18-25
Debt
€5.35M
+0.8% 18-25
Debt ≤ 1y
€2.62M
+24.6% 18-25
Current ratio
6.54
-15.9% 18-25
Quick ratio
6.52
-15.8% 18-25
Solvency
68.6%
+1.1% 18-25
Debt / equity
0.45
-4.3% 18-25
ROE
-0.3%
- 18-25
ROA
-0.2%
- 18-25
Interest coverage
-378.21
- 18-25
Figures by fiscal year
Fiscal year2025
Depositverkort
Revenue-
EBITDA€-311k
Net profit€-31k
Cash flow€54k
Staff costs€2.22M
Income taxes€-45k
Dividends-
Total assets€17.19M
Equity€11.78M
Debt€5.35M
of which ≤ 1y€2.62M
of which > 1y-
Working capital€14.48M
Employees (FTE)23.0
Ratios (computed)
2025
Current ratio6.54
Quick ratio6.52
Working capital ratio84.3%
Solvency68.6%
Debt / equity0.45
Long-term debt ratio-
Interest coverage-378.21
Gross margin-
Net margin-
ROA-0.2%
ROE-0.3%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2025
Balance sheet, Assets
TOTAL ASSETS 20/58€17.19M
Fixed assets 21/28€89k
Intangible fixed assets 21€29k
Tangible fixed assets 22/27€59k
Financial fixed assets 28€125
Current assets 29/58€17.10M
Stocks & contracts in progress 3€32k
Amounts receivable within one year 40/41€16.15M
Cash & bank 54/58€550
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€17.19M
Equity 10/15€11.78M
Contributions / capital 10/11€62k
Reserves 13€506k
Accumulated profits (losses) 14€11.22M
Provisions & deferred taxes 16€54k
Amounts payable 17/49€5.35M
Amounts payable within one year 42/48€2.62M
Trade debts payable within one year 44€1.46M
Income statement
Gross operating margin 9900€3.79M
Operating result 9901€-395k
Financial income 75€320k
Financial charges 65€822
Result before taxes 9903€-76k
Income taxes 67/77€-45k
Net result for the period 9904€-31k
Result to be appropriated 9905€-31k
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2025 · computed
55 / 100 Fair
050100
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.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

9 directors
Current directors & mandates
  • Philippe Andrianne
    Director
    State Gazette act 23122180 (25-09-2023)
    Current
    01-09-2023 → present
  • Thierry Desmedt
    Director
    State Gazette act 23122180 (25-09-2023)
    Current
    01-09-2023 → present
  • C.S. CONSULTINGLegal entity
    Director· perm. rep.: Andrianne Philippe
    State Gazette act 23101562 (07-08-2023)
    Current
    28-07-2023 → present
  • JBMaLegal entity
    Director· perm. rep.: Jérôme Jean-Claude F. Blanchevoye
    State Gazette act 23122180 (25-09-2023)
    Current
    28-11-2018 → present
    2 events
    • 01-09-2023 Appointed· Director
    • 28-11-2018 Appointed· Director
Historic, not recently confirmed (1)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
Former directors (4)
  • Lionel Blaise
    Director
    State Gazette act 23122180 (25-09-2023)
    Former
    01-09-2023 → 23-11-2023
    2 events
    • 23-11-2023 Resigned· Director
    • 01-09-2023 Appointed· Director
  • Christopher Stone
    Director
    State Gazette act 15172704 (11-12-2015)
    Former
    11-12-2015 → 01-09-2023
    4 events
    • 01-09-2023 Resigned· Director
    • 28-11-2018 Resigned· Director
    • 11-12-2015 Mandate renewed· Director
    • 11-12-2015 Mandate renewed· Managing director
  • MEDIA ADVICELegal entity
    Director· perm. rep.: Wim Jansen
    State Gazette act 18342040 (24-12-2018)
    Former
    28-11-2018 → 01-09-2023
    2 events
    • 01-09-2023 Resigned· Director
    • 28-11-2018 Appointed· Director
  • C.S. CONSULTING
    Director
    State Gazette act 18342040 (24-12-2018)
    Former
    - → 28-11-2018
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.

Statutory auditor

2 auditors
Statutory auditor IRE/IBR number Tenure
Mazars Bedrijfsrevisoren BVCurrent
Statutory auditor · represented by Romuald Bilem
 - 19-12-2025 → present
KPMG Réviseurs d'Entreprises
Statutory auditor · represented by Dominic Rousselle
 - 01-01-2018 → 19-12-2025
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary Activiteiten van reclamebureaus(73110)
Legal form Public limited company(014)
Incorporation04-10-1990
StatusActive
Postal code1731

Structure & network

Connections & network

16 connected companies
C.S. CONSULTING, Sits on the board CCC.S.CONSULTINGJBMa, Sits on the board JJBMaMEDIA ADVICE, Sits on the board MAMEDIA ADVICEPhilippe Andrianne, Shared director, links 13 companies PA Philippe…ianneDomaine de Chastre, via Philippe Andrianne DDDomaine deChastreFERME DU CHATEAU DE WASSEIGES, via Philippe Andrianne FDFERME DUCHATEAU …EIGESFonds du Logement des Familles nombreuses de Wallonie, via Philippe Andrianne FDFonds duLogement…lonieJCDecaux Belgium, via Philippe Andrianne JBJCDecauxBelgiumJCDECAUX BILLBOARD BELGIUM, via Philippe Andrianne JBJCDECAUXBILLBOAR…LGIUMJCDECAUX INSERT BELGIUM, via Philippe Andrianne JIJCDECAUXINSERT BELGIUMJCDecaux Malls, via Philippe Andrianne JMJCDecaux MallsJCDECAUX STREET FURNITURE BELGIUM, via Philippe Andrianne JSJCDECAUXSTREET F…LGIUMLes Jardins de Wasseiges, via Philippe Andrianne LJLes Jardins deWasseigesAlliance Nationale des Mutualités Chrétiennes - Landsbond der Christelijke Mutualiteiten, via Philippe Andrianne ANAllianceNational…eitenPUBLIROUTE PUBLIROUTE0441.679.701
Group structureShared directors
Group structure
C.S. CONSULTING
Sits on the board · 1 subsidiary · 1 location
Control→
JBMa
Sits on the board · 7 subsidiaries · 2 locations
Control→
MEDIA ADVICE
Sits on the board · 6 subsidiaries · 1 location
Control→
Linked via shared directors
former→
Unie van socialprofitondernemingen
viaPhilippe Andrianne · Membre du conseil d'administration
former→
former→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.

Ownership & control

3 parties
Control over this companysits on this company's board3
JBMa
7 subsidiaries · 2 locations
MEDIA ADVICE
6 subsidiaries · 1 location
C.S. CONSULTING
1 subsidiary · 1 location
controls
PUBLIROUTEBE 0441.679.701

Each band states what its claims rest on. A board seat is influence over the board, not ownership. Court mandates (receiver, interim administrator) and liquidation mandates do not link companies and are therefore absent here; they belong under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
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.

Poverstraat 881731 Asse

Establishment units

1 location
PUBLIROUTE SA
Poverstraat 88, 1731 Assehet ontwerpen en voeren van reclame- en promotiecampagnes voor derden via de verschillende media
since 19902.050.147.062
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area4,608 m²
Buildings1
Building footprint1,265 m²

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
23068B0215/00C000 Flanders 4,608 m² 1 · 1,265 m² -
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

12 acts
Capital history · 1
02-02-2022
v3.2
Address history · 1
11-09-2014
v3.2
All acts · 12 updated 7 months ago
2025
19-12-2025 1 director appointed, 1 resigning Director changes
  • Romuald Bilem, Commissaris
  • Xavier NYS, Commissaris
Summary: v3.2
2024
28-02-2024 Articles of association amended Statutes amendment
Summary: v3.2
2023
19-12-2023 Lionel Blaise resigns as director Director changes
  • Lionel Blaise, Bestuurder
Summary: v3.2
25-09-2023 4 directors appointed, 2 resigning Director changes
  • Philippe Andrianne, Bestuurder
  • Thierry Desmedt, Bestuurder
  • Jérôme Blanchevoye, Bestuurder
  • Lionel Blaise, Bestuurder
  • Christopher Stone, Bestuurder
  • Wim JANSEN, Bestuurder
Summary: v3.2
07-08-2023 Andrianne Philippe appointed as director Director changes
  • Andrianne Philippe, Bestuurder
Summary: v3.2
2022
02-02-2022 Transaction in capital or shares Capital & shares
Summary: v3.2
2021
13-12-2021 Dominic Rousselle reappointed as statutory auditor Director changes
  • Dominic Rousselle, Commissaris
Summary: v3.2
2019
12-08-2019 Dominic Rousselle reappointed as statutory auditor Director changes
  • Dominic Rousselle, Commissaris
Summary: v3.2
2018
24-12-2018 4 directors appointed, 2 resigning Director changes
  • Jérôme Jean-Claude F. Blanchevoye, Bestuurder
  • Wim Jansen, Bestuurder
  • Blaise Lionel Richard Jules, Bestuurder
  • Dominic Rousselle, Commissaris
  • Christopher STONE, Bestuurder
  • C.S. CONSULTING, Bestuurder
Summary: v3.2
2017
01-06-2017 End of the company published End of life
Summary: v3.2
2015
11-12-2015 2 reappointed Director changes
  • Christopher Stone, Bestuurder
  • Christopher Stone, Gedelegeerd bestuurder
Summary: v3.2
2014
11-09-2014 Registered office moved within Relegem Registered-office change
  • Poverstraat 116-1731, Relegem → Poverstraat 88, 1731 Relegem
Summary: v3.2

Analysis

Snowflake analysis

financial profile on 5 axes
Health55Profitability0Solvency100Growth52Stability100
61 / 100

Strong profile, led by solvency.

All 5 axes are computed from data Checked has read.

Health 55
Profitability 0
Solvency 100
Growth 52
Stability 100

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Credit advice

verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 839 of the 9,836 companies in this sector. 16 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Reclamebureaus73110Activiteiten van reclamebureaus73110Mediarepresentatie73120Mediarepresentatie73120Publiciteitsagentschappen74401Beheer van publiciteitsdragers74402Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990
Primary activity highlighted.
Names & trade names
Legal nameNL PUBLIROUTE
Registered office
Poverstraat 88
1731 Asse, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.