RSD - Belgium
ActiveRSD - Belgium has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.73M and a net result of €337k. Equity is shrinking by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 32% of 143 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability48▼-52
Solvency46▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity tight (current ratio 1.26 against 1.34 in 2024; short-term debt: 79.2% and cash: 92.1% of total assets), and 79.2% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 79
Relative position
BE, all sectors
reference
Sector 79
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
20.8%
Return on assets
4%
Age of the figures
9 mo
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 14-04-2026, 108 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
108 d early
2024
125 d early
2023
29 d late
2022
28 d early
2021
46 d early
2020
54 d early
2019
48 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
20-09-2026 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
€337k▼ 78.1%
2024 · €1.54M
2018: €1.36M
2019: €2.04M
2020: €241k
2021: €-362k
2022: €865k
2023: €1.17M
2024: €1.54M
2018 → 2025
Working capital
€1.72M▲ 24.3%
2024 · €1.38M
2018: €1.02M
2019: €3.06M
2020: €3.31M
2021: €2.95M
2022: €1.67M
2023: €1.85M
2024: €1.38M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.95M-€1.68M▼ 43.2%€1.85M▲ 10.2%€1.39M▼ 24.9%€1.73M▲ 24.2%
Operating result€-331k-€1.07M€1.58M▲ 47.2%€2.09M▲ 32.2%€478k▼ 77.1%
Net result€-362k-€865k€1.17M▲ 35.5%€1.54M▲ 31.4%€337k▼ 78.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 77% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.32M
Fixed assets
€5k▲ 2.1%
Current assets
€8.31M▲ 51.0%
Equity and liabilities €8.32M
Equity
€1.73M▲ 24.2%
Debt
€6.59M▲ 59.9%
The debt ratio rises from 74.8% to 79.2%. Equity and debt are higher.
Key figures and ratios
Solvency
20.8%▼
2024 · 25.2%
Current ratio
1.26▼
2024 · 1.34
Quick ratio
1.26▼
2024 · 1.34
Debt / equity
3.82▲
2024 · 2.97
ROE
19.5%▼
2024 · 110.8%
ROA
4.0%▼
2024 · 27.9%
Debt
€6.59M▲
2024 · €4.12M
Debt ≤ 1 year
€6.59M▲
2024 · €4.12M
Income taxes
€113k▼
2024 · €527k
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€5.51M€8.32M▲
Fixed assets21/28€5k€5k▲
Financial fixed assets28€5k€5k▲
Current assets29/58€5.51M€8.31M▲
Amounts receivable within one year40/41€25k€646k▲
Trade receivables40€23k€348k▲
Other amounts receivable41€2k€298k▲
Cash at bank and in hand54/58€5.48M€7.66M▲
Deferred charges and accrued income490/1€4k€6k▲
Equity and liabilities
Total equity and liabilities10/49€5.51M€8.32M▲
Equity10/15€1.39M€1.73M▲
Contributions10/11€150k€150k=
Capital10€150k€150k=
Issued capital100€150k€150k=
Reserves13€1.24M€1.58M▲
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Distributable reserves133€1.22M€1.56M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€4.12M€6.59M▲
Amounts payable within one year42/48€4.12M€6.59M▲
Trade debts44€782k€2.66M▲
Suppliers440/4€782k€2.66M▲
Advances received on contracts in progress46€2.20M€3.91M▲
Taxes, remuneration and social security45€134k€7k▼
Taxes450/3€134k€7k▼
Other amounts payable47/48€1.01M€9k▼
Income statement
Code20242025
Other operating charges640/8€2k€2k▲
Gross operating margin9900€2.09M€480k▼
Operating profit (loss)9901€2.09M€478k▼
Financial income75/76B€650€2k▲
Recurring financial income75€650€2k▲
Financial charges65/66B€22k€30k▲
Recurring financial charges65€22k€30k▲
Profit (loss) for the period before taxes9903€2.07M€449k▼
Income taxes67/77€527k€113k▼
Profit (loss) for the period9904€1.54M€337k▼
Profit (loss) for the period to be appropriated9905€1.54M€337k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.54M€337k▼
Transfer to equity691/2€539k€337k▼
To other reserves6921€539k€337k▼
Profit to be distributed694/7€1.00M€0▼
Return on contributions (dividend)694€1.00M€0▼
The notes to these accounts (5 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
14-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
28-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €865k
Net result €865k after one loss-making year.
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €-362k ▼250%
Net result drops to €-362k, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 48 days late
2019
31-12
Financial
Highest result since 2018net €2.04M ▲50.8%
Operating result €3.01M, net result €2.04M, both a record.
31-12
Financial
Equity above €2MEq €3.07M ▲199%
2 profitable years in a row build equity to €3.07M.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2020
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
20-02-2020
Resigned as Director
Location & real-estate footprint
Registered office, Braine-l'Alleud · 1 establishment unit since 2013
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.
Boulevard de France 91420 Braine-l'AlleudGround area
7,876 m²
Building footprint
860 m²
Volume, LiDAR
12,317 m³
Parcel 25744D0293/00R003, Wallonia · tallest building 18.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Boulevard de France 9, 1420 Braine-l'Alleud
since 20132.217.652.008
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25744D0293/00R003 | Wallonia | 7,876 m² | 1 · 860 m² | 17.9 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,439 companies in sector 79110 we hold annual accounts for 880. 376 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-12-2012
Fiscal year end31-12
Activities, NACEBEL
79110Travel agency activities
79120Travel agency, tour operator and other reservation service and related activities
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.