Q-top
ActiveSummary
Q-top has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.8m and a net result of €2.5m. Equity is growing by ~60.6% per year across the filed fiscal years. Its solvency ranks better than 91% of 264 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €390,000 at 30 days acceptable
Liquidity ample (current ratio 12.22 against 7.7 in 2024; short-term debt: 7.6% and cash: 37.5% of total assets), and 9.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
90.1%
Return on assets
28.7%
Age of the figures
9 mo
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
Publishing activities (NACE 58)
about 30% 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
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 25-06-2026, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
36 d early
2024
22 d early
2023
27 d early
2022
17 d late
2021
51 d early
2020
32 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 26 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
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. Usually files around 5 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 company by total assets in Limburg, Publishing sector#1 company by equity in Limburg, Publishing sector#7 employer in Limburg, Publishing and media sector
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€4.0m
EBIT margin
59.5%
Net result
€2.5m▲ 38.0%
2024 · €1.8m
Working capital
€7.3m▲ 56.3%
2024 · €4.7m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€4.0m
Operating result€728,940▲ 37.0%€764,561▲ 4.9%€1.1m▲ 46.3%€1.7m▲ 47.9%€2.4m▲ 43.5%
Net result€766,190above the sector's middle half▲ 49.2%€760,903above the sector's middle half▼ 0.7%€1.2mabove the sector's middle half▲ 51.2%€1.8mabove the sector's middle half▲ 56.6%€2.5mabove the sector's middle half▲ 38.0%
EBIT margin59.5%
Equity€1.6mabove the sector's middle half▲ 92.7%€2.4mabove the sector's middle half▲ 47.8%€3.5mabove the sector's middle half▲ 48.9%€5.3mabove the sector's middle half▲ 51.4%€7.8mabove the sector's middle half▲ 46.8%
Total assets€2.0mabove the sector's middle half▲ 73.7%€2.9mabove the sector's middle half▲ 45.0%€4.3mabove the sector's middle half▲ 45.2%€6.1mabove the sector's middle half▲ 41.6%€8.6mabove the sector's middle half▲ 42.9%
Debt€436,375▼ 18.8%€588,191▲ 34.8%€768,639▲ 30.7%€746,571▼ 2.9%€855,709▲ 14.6%
Working capital€1.2mabove the sector's middle half▲ 352%€1.8mabove the sector's middle half▲ 56.3%€2.9mabove the sector's middle half▲ 60.5%€4.7mabove the sector's middle half▲ 61.0%€7.3mabove the sector's middle half▲ 56.3%
Solvency78.5%above the sector's middle half▲ 7.7pp80.0%above the sector's middle half▲ 1.5pp82.0%above the sector's middle half▲ 2.0pp87.7%above the sector's middle half▲ 5.7pp90.1%above the sector's middle half▲ 2.4pp
Current ratio4.93above the sector's middle half▲ 3.194.50above the sector's middle half▼ 0.435.10above the sector's middle half▲ 0.607.70above the sector's middle half▲ 2.5912.22above the sector's middle half▲ 4.53
Return on assets (ROA)37.8%above the sector's middle half▼ 6.2pp25.9%above the sector's middle half▼ 11.9pp26.9%above the sector's middle half▲ 1.1pp29.8%above the sector's middle half▲ 2.8pp28.7%above the sector's middle half▼ 1.0pp
Staff (FTE)12.9above the sector's middle half▲ 6.6%13.3above the sector's middle half▲ 3.1%12.7above the sector's middle half▼ 4.5%12.5above the sector's middle half▼ 1.6%10.4above the sector's middle half▼ 16.8%
above
within
below
the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 44% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.6m
Fixed assets
€650,768 ▼ 0.6%
Current assets
€8.0m ▲ 48.1%
Equity and liabilities €8.6m
Equity
€7.8m ▲ 46.8%
Debt
€855,709 ▲ 14.6%
Debt's share of the balance-sheet total falls from 12.3% to 9.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.5m▲
2024 · €1.8m
Cash flow
€2.6m▲
2024 · €1.9m
Quick ratio
12.22▲
2024 · 7.70
Debt to equity
0.11▼
2024 · 0.14
ROE
31.9%▼
2024 · 33.9%
Interest coverage
359.59▲
2024 · 214.56
Debt ≤ 1 year
€654,073▼
2024 · €701,111
Debt > 1 year
€32,636▼
2024 · €45,460
Income taxes
€1,459▲
2024 · €1,229
Staff costs
€817,952▼
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €4.0m | - |
| Non-recurring operating income76A | €25,901 | €4,130 | €3,138 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €432,229 | - |
| Remuneration, social security and pensions62 | €916,315 | €852,892 | €937,914 | €1.1m | €817,952 | ▼ 23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €104,542 | €99,429 | €115,632 | €139,397 | €147,204 | ▲ 5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2,412 | -€1,570 | €1,167 | - | - |
| Other operating charges640/8 | €14,119 | €30,399 | €9,194 | €386,941 | €396,058 | ▲ 2.4% |
| Non-recurring operating charges66A | €4,383 | €8,198 | - | - | €5,866 | - |
| Gross operating margin9900 | €1.8m | €1.8m | €2.2m | €3.2m | €3.7m | ▲ 15.2% |
| Operating profit (loss)9901 | €728,940 | €764,561 | €1.1m | €1.7m | €2.4m | ▲ 43.5% |
| Financial income75/76B | €48,794 | €9,531 | €42,979 | €155,923 | €117,810 | ▼ 24.4% |
| Recurring financial income75 | €48,794 | €9,531 | €42,979 | €155,923 | €102,711 | ▼ 34.1% |
| Non-recurring financial income76B | - | - | - | - | €15,098 | - |
| Financial charges65/66B | €10,266 | €12,345 | €10,606 | €8,362 | €7,015 | ▼ 16.1% |
| Recurring financial charges65 | €10,266 | €12,345 | €10,606 | €8,362 | €7,015 | ▼ 16.1% |
| Profit (loss) for the period before taxes9903 | €767,469 | €761,746 | €1.2m | €1.8m | €2.5m | ▲ 37.9% |
| Income taxes67/77 | €1,279 | €844 | €752 | €1,229 | €1,459 | ▲ 18.6% |
| Profit (loss) for the period9904 | €766,190 | €760,903 | €1.2m | €1.8m | €2.5m | ▲ 38.0% |
| Profit (loss) for the period to be appropriated9905 | €766,190 | €760,903 | €1.2m | €1.8m | €2.5m | ▲ 38.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €2.9m | €4.3m | €6.1m | €8.6m | ▲ 42.9% |
| Fixed assets21/28 | €571,919 | €606,277 | €645,842 | €654,639 | €650,768 | ▼ 0.6% |
| Intangible fixed assets21 | €205,960 | €295,738 | €355,321 | €381,009 | €405,997 | ▲ 6.6% |
| Tangible fixed assets22/27 | €363,289 | €307,869 | €287,851 | €270,960 | €242,101 | ▼ 10.7% |
| Land and buildings22 | €324,812 | €298,317 | €278,224 | €204,721 | €197,138 | ▼ 3.7% |
| Plant, machinery and equipment23 | €2,063 | €1,522 | €982 | €53,343 | €40,088 | ▼ 24.8% |
| Furniture and vehicles24 | €36,415 | €8,030 | €8,645 | €10,033 | €2,700 | ▼ 73.1% |
| Other tangible fixed assets26 | - | - | - | €2,863 | €2,176 | ▼ 24.0% |
| Financial fixed assets28 | €2,670 | €2,670 | €2,670 | €2,670 | €2,670 | = |
| Current assets29/58 | €1.5m | €2.3m | €3.6m | €5.4m | €8.0m | ▲ 48.1% |
| Stocks and contracts in progress3 | €3,629 | €1,860 | €450 | €450 | €450 | = |
| Stocks30/36 | €3,629 | €1,860 | €450 | €450 | €450 | = |
| Amounts receivable within one year40/41 | €251,868 | €1.9m | €3.3m | €5.0m | €4.7m | ▼ 6.1% |
| Trade receivables40 | €229,749 | €154,766 | €165,355 | €172,594 | €228,682 | ▲ 32.5% |
| Other amounts receivable41 | €22,119 | €1.8m | €3.1m | €4.9m | €4.5m | ▼ 7.4% |
| Cash at bank and in hand54/58 | €1.1m | €363,810 | €281,912 | €319,474 | €3.2m | ▲ 915% |
| Deferred charges and accrued income490/1 | €80,294 | €45,359 | €33,427 | €54,474 | €33,147 | ▼ 39.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €2.9m | €4.3m | €6.1m | €8.6m | ▲ 42.9% |
| Equity10/15 | €1.6m | €2.4m | €3.5m | €5.3m | €7.8m | ▲ 46.8% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Outside capital11 | €25,000 | - | - | - | - | - |
| Other1109/19 | €25,000 | - | - | - | - | - |
| Revaluation surpluses12 | €74,750 | €74,750 | €74,750 | €74,750 | €74,750 | = |
| Reserves13 | €1.5m | €2.3m | €3.4m | €3.4m | €3.4m | = |
| Non-distributable reserves130/1 | €2,500 | - | - | - | - | - |
| Reserves not available under the articles1311 | €2,500 | - | - | - | - | - |
| Distributable reserves133 | €1.5m | €2.3m | €3.4m | €3.4m | €3.4m | = |
| Profit (loss) carried forward14 | - | - | - | €1.8m | €4.3m | ▲ 138% |
| Amounts payable17/49 | €436,375 | €588,191 | €768,639 | €746,571 | €855,709 | ▲ 14.6% |
| Amounts payable after more than one year17 | €140,992 | €69,201 | €57,638 | €45,460 | €32,636 | ▼ 28.2% |
| Financial debts170/4 | €140,992 | €69,201 | €57,638 | €45,460 | €32,636 | ▼ 28.2% |
| Amounts payable within one year42/48 | €295,383 | €518,931 | €710,719 | €701,111 | €654,073 | ▼ 6.7% |
| Current portion of amounts payable after more than one year42 | €18,610 | €10,980 | €11,564 | €12,178 | €12,825 | ▲ 5.3% |
| Trade debts44 | €71,094 | €256,989 | €428,059 | €472,577 | €437,374 | ▼ 7.4% |
| Suppliers440/4 | €71,094 | €256,989 | €428,059 | €472,577 | €437,374 | ▼ 7.4% |
| Taxes, remuneration and social security45 | €204,473 | €249,756 | €269,890 | €216,357 | €203,874 | ▼ 5.8% |
| Taxes450/3 | €100,293 | €143,726 | €152,001 | €55,666 | €80,730 | ▲ 45.0% |
| Remuneration and social security454/9 | €104,179 | €106,030 | €117,889 | €160,691 | €123,145 | ▼ 23.4% |
| Other amounts payable47/48 | €1,206 | €1,206 | €1,206 | - | - | - |
| Accrued charges and deferred income492/3 | - | €59 | €283 | - | €169,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €766,190 | €760,903 | €1.2m | €1.8m | €2.5m | ▲ 38.0% |
| + Depreciation and write-downs630 | €104,542 | €99,429 | €115,632 | €139,397 | €147,204 | ▲ 5.6% |
| Operating cash flow (approximation) | €870,731 | €860,332 | €1.3m | €1.9m | €2.6m | ▲ 35.6% |
| Investment in fixed assets (approximation) | - | -€133,788 | -€155,196 | -€148,195 | -€143,333 | ▲ 3.3% |
| Change in cash | - | -€757,878 | -€81,899 | €37,562 | €2.9m | ▲ 7,683% |
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
25-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €2.5m ▲38%
Operating result €2.4m, net result €2.5m, both a record.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €5mEq €5.3m ▲51.4%
7 profitable years in a row build equity to €5.3m.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 17 days late
2022
31-12
Financial
Equity above €2mEq €2.4m ▲47.8%
5 profitable years in a row build equity to €2.4m.
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity triplescurrent ratio 4.93
Current ratio from 1.74 to 4.93; short-term debt falls from €345,435 to €295,383.
31-12
Financial
Equity above €1mEq €1.6m ▲92.7%
4 profitable years in a row build equity to €1.6m.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €500,000Eq €826,834 ▲164%
3 profitable years in a row build equity to €826,834.
Show earlier events
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Houthalen-Helchteren · 1 establishment unit since 2006
Ground area
2,777 m²
Building footprint
371 m²
Volume, LiDAR
2,645 m³
Parcel 72015C0013/00N000, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
OT-Pro
since 20062.154.457.694
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72015C0013/00N000 | Flanders | 2,777 m² | 1 · 371 m² | 12.2 m · 3 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.
Structure & network
Part of the group
Hazel Topco
13 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
Highest known parent: Hazel Topco. The sources do not say who stands above it.
Owners 1
- CORILUSparentSourceaccounts CORILUS 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 135,510 EUR awarded · 135,510 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 14,984 EUR | 14,984 EUR |
| 2024 | 1 | 40,951 EUR | 40,951 EUR |
| 2023 | 2 | 39,450 EUR | 39,450 EUR |
| 2022 | 2 | 40,125 EUR | 40,125 EUR |
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Of 1,290 companies in sector 58290 we hold annual accounts for 594. 69 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
Founded23-05-2006
Fiscal year end31-12
Activities, NACEBEL 2025
58290Other software publishing
62100Computer programming
E-invoicing
Reachable via Peppol
Peppol ID
0208:0881486906
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.