QRST
ActiveQRST has been active since 1970 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €334k and a net result of €28k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 40% of 35 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
76
/ 100
Excellent▼ -10 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability43▼-57
Solvency78▼-2
Growth78=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.06 against 2.31 in 2024), but 64.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 37
Relative position
BE, all sectors
reference
Sector 37
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
35.4%
Return on assets
3%
Age of the figures
8 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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
8 d early
2023
13 d early
2022
9 d early
2021
13 d early
2020
9 d early
2019
8 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
€334k▼ 20.7%
2024 · €421k
2018: €196k
2019: €224k
2020: €244k
2021: €236k
2022: €280k
2023: €348k
2024: €421k
2018 → 2025
Total assets
€943k▼ 16.7%
2024 · €1.13M
2018: €980k
2019: €910k
2020: €861k
2021: €810k
2022: €899k
2023: €940k
2024: €1.13M
2018 → 2025
Net result
€28k▼ 69.8%
2024 · €94k
2018: €22k
2019: €28k
2020: €36k
2021: €52k
2022: €75k
2023: €96k
2024: €94k
2018 → 2025
Working capital
€183k▼ 24.1%
2024 · €241k
2018: €17k
2019: €68k
2020: €107k
2021: €120k
2022: €124k
2023: €186k
2024: €241k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€236k-€280k▲ 18.5%€348k▲ 24.4%€421k▲ 20.9%€334k▼ 20.7%
Operating result€97k-€116k▲ 20.4%€155k▲ 33.2%€154k▼ 0.5%€64k▼ 58.8%
Net result€52k-€75k▲ 44.8%€96k▲ 27.9%€94k▼ 2.0%€28k▼ 69.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 59% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €943k
Fixed assets
€589k▼ 16.8%
Current assets
€354k▼ 16.6%
Equity and liabilities €943k
Equity
€334k▼ 20.7%
Debt
€610k▼ 14.4%
The debt ratio rises from 62.9% to 64.6%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€192k▼
2024 · €262k
Cash flow
€157k▼
2024 · €202k
Solvency
35.4%▼
2024 · 37.1%
Current ratio
2.06▼
2024 · 2.31
Quick ratio
2.06▼
2024 · 2.31
Debt / equity
1.83▲
2024 · 1.69
ROE
8.5%▼
2024 · 22.4%
ROA
3.0%▼
2024 · 8.3%
Interest coverage
9.08▼
2024 · 12.44
Debt
€610k▼
2024 · €712k
Debt ≤ 1 year
€171k▼
2024 · €184k
Debt > 1 year
€438k▼
2024 · €528k
Income taxes
€15k▼
2024 · €40k
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€1.13M€943k▼
Fixed assets21/28€709k€589k▼
Tangible fixed assets22/27€707k€588k▼
Land and buildings22€343k€283k▼
Plant, machinery and equipment23€551€2k▲
Furniture and vehicles24€358k€298k▼
Other tangible fixed assets26€6k€5k▼
Financial fixed assets28€1k€1k=
Current assets29/58€424k€354k▼
Amounts receivable after more than one year29€45k€25k▼
Other amounts receivable291€45k€25k▼
Amounts receivable within one year40/41€306k€287k▼
Trade receivables40€292k€252k▼
Other amounts receivable41€14k€35k▲
Cash at bank and in hand54/58€57k€36k▼
Deferred charges and accrued income490/1€17k€6k▼
Equity and liabilities
Total equity and liabilities10/49€1.13M€943k▼
Equity10/15€421k€334k▼
Contributions10/11€9k€9k=
Reserves13€412k€325k▼
Tax-exempt reserves132€20k€20k=
Distributable reserves133€392k€305k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€712k€610k▼
Amounts payable after more than one year17€528k€438k▼
Financial debts170/4€528k€438k▼
Amounts payable within one year42/48€184k€171k▼
Current portion of amounts payable after more than one year42€90k€90k=
Trade debts44€4k€7k▲
Suppliers440/4€4k€7k▲
Taxes, remuneration and social security45€87k€52k▼
Taxes450/3€87k€52k▼
Other amounts payable47/48€3k€22k▲
Accrued charges and deferred income492/3€126€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€108k€128k▲
Other operating charges640/8€15k€16k▲
Gross operating margin9900€277k€207k▼
Operating profit (loss)9901€154k€64k▼
Financial income75/76B€797€1k▲
Recurring financial income75€797€1k▲
Financial charges65/66B€21k€21k▲
Recurring financial charges65€21k€21k▲
Profit (loss) for the period before taxes9903€134k€43k▼
Income taxes67/77€40k€15k▼
Profit (loss) for the period9904€94k€28k▼
Profit (loss) for the period to be appropriated9905€94k€28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€94k€28k▼
Transfer from equity791/2€22k€116k▲
Transfer to equity691/2€94k€28k▼
To other reserves6921€94k€28k▼
Profit to be distributed694/7€22k€116k▲
Return on contributions (dividend)694€22k€116k▲
The notes to these accounts (14 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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €96k ▲27.9%
Operating result €155k, net result €96k, both a record.
22-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €224k ▲14.3%
2 profitable years in a row build equity to €224k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Brugge · 2 establishment units since 1970
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.
Gotevlietstraat 748000 BruggeGround area
1.0 ha
Building footprint
2,171 m²
Volume, LiDAR
18,893 m³
2 parcels, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
QRST
since 19702.004.651.488
QRST
since 20122.209.939.617
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31810N0615/00E002 | Flanders | 8,815 m² | 1 · 1,970 m² | 10.2 m · 3 fl. |
| 31425C0108/00G000 | Flanders | 1,218 m² | 1 · 201 m² | 9.9 m |
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 · 5 entries · 5,338 EUR awarded · 5,338 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 620 EUR | 620 EUR |
| 2024 | 1 | 950 EUR | 950 EUR |
| 2023 | 2 | 2,688 EUR | 2,688 EUR |
| 2022 | 1 | 1,080 EUR | 1,080 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Similar companies · same sector, comparable size
CLEAN SERVICE
BE 0480.767.137
Haaltert · Eq €334k
BYL OLIVIER
BE 0884.800.841
Thuin · Eq €334k
Vidange Inter
BE 0406.838.388
Charleroi · Eq €332k
PEETERS RUIMDIENST
BE 0871.584.293
Kalmthout · Eq €337k
derioolrat Bauden Patrick
BE 0876.378.469
Veurne · Eq €338k
Of 360 companies in sector 37000 we hold annual accounts for 204. 150 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-02-1970
Fiscal year end31-12
Activities, NACEBEL
37000Sewerage
60242
38210Materials recovery from waste
38212Waste collection, recovery and disposal activities
38219Waste collection, recovery and disposal activities
38330Waste collection, recovery and disposal activities
39000Remediation activities and other waste management service activities
49410Freight transport by road
49420Removal services
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.