Qu'ALU
ActiveQu'ALU has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €210k and a net result of €26k. Equity is growing by ~21.4% per year across the filed fiscal years. Its solvency ranks better than 22% of 2036 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
45
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability44▼-11
Solvency47=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.16 against 1.26 in 2024; short-term debt: 77.9% and cash: 10.5% of total assets), and 78.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
21.8%
Return on assets
2.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2036 sector peers (2025).
NBB · sector comparisonPosition among 2036 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
61 d late
← 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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€26k▼ 37.7%
2024 · €42k
2020: €-5k
2021: €37k
2022: €44k
2023: €4k
2024: €42k
2020 → 2025
Working capital
€123k▼ 28.6%
2024 · €173k
2020: €-21k
2021: €-22k
2022: €68k
2023: €112k
2024: €173k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€94k-€138k▲ 47.3%€142k▲ 2.8%€184k▲ 29.4%€210k▲ 14.2%
Operating result€54k-€88k▲ 64.1%€32k▼ 63.2%€90k▲ 177%€76k▼ 14.8%
Net result€37k-€44k▲ 20.3%€4k▼ 91.2%€42k▲ 973%€26k▼ 37.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €961k
Fixed assets
€89k▲ 506%
Current assets
€872k▲ 5.4%
Equity and liabilities €961k
Equity
€210k▲ 14.2%
Debt
€751k▲ 14.2%
The debt ratio stays at 78.2%.
Key figures and ratios
EBITDA
€101k▼
2024 · €113k
Cash flow
€50k▼
2024 · €65k
Solvency
21.8%=
2024 · 21.8%
Current ratio
1.16▼
2024 · 1.26
Quick ratio
0.99▼
2024 · 1.01
Debt / equity
3.58=
2024 · 3.58
ROE
12.4%▼
2024 · 22.7%
ROA
2.7%▼
2024 · 5.0%
Interest coverage
2.57▼
2024 · 3.66
Debt
€751k▲
2024 · €658k
Debt ≤ 1 year
€749k▲
2024 · €654k
Income taxes
€11k▼
2024 · €17k
Staff costs
€176k▲
2024 · €163k
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€842k€961k▲
Fixed assets21/28€15k€89k▲
Tangible fixed assets22/27€15k€89k▲
Plant, machinery and equipment23€13k€78k▲
Furniture and vehicles24€175-
Other tangible fixed assets26€1k€90▼
Assets under construction and advance payments27-€11k
Current assets29/58€827k€872k▲
Stocks and contracts in progress3€163k€129k▼
Stocks30/36€120k€116k▼
Contracts in progress37€43k€13k▼
Amounts receivable within one year40/41€543k€641k▲
Trade receivables40€543k€641k▲
Other amounts receivable41€0-
Cash at bank and in hand54/58€49k€101k▲
Deferred charges and accrued income490/1€71k€892▼
Equity and liabilities
Total equity and liabilities10/49€842k€961k▲
Equity10/15€184k€210k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€116k€142k▲
Amounts payable17/49€658k€751k▲
Amounts payable within one year42/48€654k€749k▲
Financial debts43€250k€275k▲
Credit institutions430/8€250k€275k▲
Trade debts44€329k€396k▲
Suppliers440/4€329k€396k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€62k€78k▲
Taxes450/3€30k€43k▲
Remuneration and social security454/9€32k€35k▲
Other amounts payable47/48€14k-
Accrued charges and deferred income492/3€4k€3k▼
Income statement
Code20242025
Non-recurring operating income76A€5k€1k▼
Remuneration, social security and pensions62€163k€176k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€24k▲
Other operating charges640/8€491€1k▲
Gross operating margin9900€276k€278k▲
Operating profit (loss)9901€90k€76k▼
Financial income75/76B€22-
Recurring financial income75€22-
Financial charges65/66B€31k€39k▲
Recurring financial charges65€31k€39k▲
Profit (loss) for the period before taxes9903€59k€37k▼
Income taxes67/77€17k€11k▼
Profit (loss) for the period9904€42k€26k▼
Profit (loss) for the period to be appropriated9905€42k€26k▼
Appropriation of the result
Profit (loss) to be appropriated9906€116k€142k▲
Profit (loss) brought forward from the previous period14P€74k€116k▲
Social balance
Average headcount (FTE)90872.82.8=
The notes to these accounts (6 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Equity above €200kEq €210k ▲14.2%
5 profitable years in a row build equity to €210k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Equity above €150kEq €184k ▲29.4%
4 profitable years in a row build equity to €184k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Highest result since 2020net €44k ▲20.3%
Net result €44k, the highest in the series.
31-12
Financial
Equity above €100kEq €138k ▲47.3%
2 profitable years in a row build equity to €138k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Bornem · 1 establishment unit since 2019
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.
Woestijnstraat(BOR) 312880 BornemGround area
2.0 ha
Building footprint
1.4 ha
Volume, LiDAR
128,588 m³
2 parcels, Flanders · tallest building 48.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Qu'ALU
since 20192.292.922.226
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0069/00C000 | Flanders | 1.6 ha | 1 · 1.2 ha | 48.0 m · 2 fl. |
| 12007C0507/00A000 | Flanders | 4,556 m² | 1 · 2,255 m² | 7.2 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.
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NIVIC
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ZYDE -AMEEL
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,136. 7,367 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-09-2019
Fiscal year end31-12
Activities, NACEBEL
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.