Seagull I
ActiveSeagull I has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.21M and a net result of €304k. Equity is growing by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 48% of 268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
99
/ 100
Excellent▲ +11 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▲+4
Solvency57▲+3
Growth85=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity ample (current ratio 1.61 against 1.64 in 2024), but 72.4% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Sector 35
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
27.6%
Return on assets
3.8%
Age of the figures
9 mo
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
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 21-05-2026, 71 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
71 d early
2024
64 d early
2023
78 d early
2022
67 d early
2021
76 d early
2020
59 d early
2019
50 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.19M▼ 13.9%
2024 · €1.38M
2019: €356k
2020: €1.05M
2021: €941k
2022: €2.11M
2023: €3.97M
2024: €1.38M
2019 → 2025
EBIT margin
50.0%▲ 14.5pp
2024 · 35.4%
2019: 41.4%
2020: 65.6%
2021: 45.9%
2022: 59.5%
2023: 70.6%
2024: 35.4%
2019 → 2025
Net result
€304k▲ 16.8%
2024 · €260k
2018: €-15k
2019: €19k
2020: €539k
2021: €205k
2022: €751k
2023: €1.95M
2024: €260k
2018 → 2025
Working capital
€665k▼ 1.6%
2024 · €676k
2018: €359k
2019: €986k
2020: €185k
2021: €467k
2022: €545k
2023: €689k
2024: €676k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€941k-€2.11M▲ 124%€3.97M▲ 88.6%€1.38M▼ 65.3%€1.19M▼ 13.9%
Equity€2.08M-€2.11M▲ 1.6%€2.23M▲ 5.6%€2.21M▼ 0.9%€2.21M▲ 0.1%
Operating result€432k-€1.25M▲ 190%€2.80M▲ 124%€488k▼ 82.6%€592k▲ 21.4%
Net result€205k-€751k▲ 266%€1.95M▲ 159%€260k▼ 86.7%€304k▲ 16.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 21% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.99M
Fixed assets
€6.25M▼ 6.8%
Current assets
€1.75M▲ 0.9%
Equity and liabilities €7.99M
Equity
€2.21M▲ 0.1%
Provisions
€105k▲ 19.0%
Debt
€5.68M▼ 7.5%
The debt ratio falls from 72.8% to 71.0%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€1.05M▲
2024 · €945k
Cash flow
€761k▲
2024 · €717k
Solvency
27.6%▲
2024 · 26.2%
Current ratio
1.61▼
2024 · 1.64
Quick ratio
1.61▼
2024 · 1.64
Debt / equity
2.57▼
2024 · 2.78
ROE
13.7%▲
2024 · 11.8%
ROA
3.8%▲
2024 · 3.1%
Interest coverage
5.13▲
2024 · 4.27
Debt
€5.68M▼
2024 · €6.14M
Debt ≤ 1 year
€1.08M▲
2024 · €1.06M
Debt > 1 year
€4.59M▼
2024 · €5.07M
Income taxes
€106k▲
2024 · €85k
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€8.44M€7.99M▼
Fixed assets21/28€6.70M€6.25M▼
Tangible fixed assets22/27€6.70M€6.25M▼
Plant, machinery and equipment23€6.70M€6.25M▼
Current assets29/58€1.73M€1.75M▲
Amounts receivable within one year40/41€1.47M€1.19M▼
Trade receivables40€417k€494k▲
Other amounts receivable41€1.05M€698k▼
Cash at bank and in hand54/58€169k€505k▲
Deferred charges and accrued income490/1€94k€52k▼
Equity and liabilities
Total equity and liabilities10/49€8.44M€7.99M▼
Equity10/15€2.21M€2.21M▲
Contributions10/11€2.00M€2.00M=
Capital10€2.00M€2.00M=
Issued capital100€2.00M€2.00M=
Reserves13€200k€200k=
Non-distributable reserves130/1€200k€200k=
Legal reserve130€200k€200k=
Profit (loss) carried forward14€7k€10k▲
Provisions and deferred taxes16€88k€105k▲
Provisions for liabilities and charges160/5€88k€105k▲
Other liabilities and charges164/5€88k€105k▲
Amounts payable17/49€6.14M€5.68M▼
Amounts payable after more than one year17€5.07M€4.59M▼
Financial debts170/4€5.07M€4.59M▼
Other loans174€5.07M€4.59M▼
Amounts payable within one year42/48€1.06M€1.08M▲
Current portion of amounts payable after more than one year42€465k€483k▲
Trade debts44€167k€197k▲
Suppliers440/4€167k€197k▲
Taxes, remuneration and social security45€144k€104k▼
Taxes450/3€144k€104k▼
Other amounts payable47/48€281k€301k▲
Accrued charges and deferred income492/3€14k€8k▼
Income statement
Code20242025
Operating income70/76A€1.40M€1.53M▲
Turnover70€1.38M€1.19M▼
Other operating income74€24k€348k▲
Operating charges60/66A€913k€941k▲
Services and other goods61€438k€466k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€457k€457k=
Provisions for liabilities and charges: additions (uses and reversals)635/8€17k€17k=
Other operating charges640/8€1k€1k▲
Operating profit (loss)9901€488k€592k▲
Financial income75/76B€79k€23k▼
Recurring financial income75€79k€23k▼
Income from current assets751€78k€23k▼
Other financial income752/9€3€3▲
Financial charges65/66B€222k€205k▼
Recurring financial charges65€222k€205k▼
Debt charges650€221k€205k▼
Other financial charges652/9€408€562▲
Profit (loss) for the period before taxes9903€345k€410k▲
Income taxes67/77€85k€106k▲
Taxes670/3€89k€106k▲
Tax adjustments and reversals of tax provisions77€4k-
Profit (loss) for the period9904€260k€304k▲
Profit (loss) for the period to be appropriated9905€260k€304k▲
Appropriation of the result
Profit (loss) to be appropriated9906€288k€311k▲
Profit (loss) brought forward from the previous period14P€28k€7k▼
Profit to be distributed694/7€281k€301k▲
Return on contributions (dividend)694€281k€301k▲
The notes to these accounts (29 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
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
14-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €1.95M ▲159%
Operating result €2.80M, net result €1.95M, both a record.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €2MEq €2.08M ▲95.3%
3 profitable years in a row build equity to €2.08M.
02-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
31-12
Financial
Equity above €1MEq €1.00M ▲1.9%
Equity rises from €985k to €1.00M.
09-05
NBB filing
Annual accounts filed
fiscal year 2018 · 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 2025
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.
07-07-2025
Nico Priem: Resigned as Director
31-08-2021
François Thoumsin: Resigned as Director
31-08-2021
Luc Maertens: Resigned as Director
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2018
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.
Isabellalaan 18380 BruggeGround area
2,909 m²
Building footprint
2,909 m²
Volume, LiDAR
28,513 m³
Parcel 31812S0246/00B000, Flanders · tallest building 37.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Seagull I
since 20182.277.540.006
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812S0246/00B000 | Flanders | 2,909 m² | 1 · 2,909 m² | 37.1 m · 2 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 557 companies in sector 35150 we hold annual accounts for 225. 107 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-06-2018
Fiscal year end31-12
Activities, NACEBEL
35150Electricity, gas, steam and air conditioning supply
35110Production of electricity from non-renewable sources
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.