SHINE
ActiveSummary
SHINE has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200k and a net result of €198k. Equity is growing by ~43.7% per year across the filed fiscal years. Its solvency ranks better than 71% of 2003 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency98▼-2
Growth78=
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 2.95 against 25.33 in 2024; short-term debt: 26.9% and cash: 42.9% of total assets), and 26.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← 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
73.1%
Return on assets
72.3%
Age of the figures
9 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 22-07-2026, 9 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
9 d early
2024
2 d early
2023
30 d late
2022
30 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€200k▼ 49.6%
2024 · €396k
Total assets
€273k▼ 33.4%
2024 · €410k
Net result
€198k▲ 36.0%
2024 · €145k
Working capital
€143k▼ 59.2%
2024 · €351k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€55k-€275k▲ 402%€190k▼ 30.9%€255k▲ 34.4%
Net result€43k-€205k▲ 374%€145k▼ 29.2%€198k▲ 36.0%
Equity€45k-€251k▲ 453%€396k▲ 58.0%€200k▼ 49.6%
Total assets€88k-€318k▲ 259%€410k▲ 29.2%€273k▼ 33.4%
Debt€43k-€67k▲ 55.4%€14k▼ 78.4%€74k▲ 411%
Working capital€35k-€233k▲ 559%€351k▲ 50.6%€143k▼ 59.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 34% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €273k
Fixed assets
€56k ▲ 25.1%
Current assets
€217k ▼ 40.6%
Equity and liabilities €273k
Equity
€200k ▼ 49.6%
Debt
€74k ▲ 411%
Debt's share of the balance-sheet total rises from 3.5% to 26.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€266k▲
2024 · €197k
Cash flow
€208k▲
2024 · €152k
Current ratio
2.95▼
2024 · 25.33
Debt to equity
0.37▲
2024 · 0.04
ROE
99.0%▲
2024 · 36.7%
ROA
72.3%▲
2024 · 35.4%
Interest coverage
69.33▼
2024 · 99.22
Debt ≤ 1 year
€74k▲
2024 · €14k
Income taxes
€65k▲
2024 · €47k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €179 | €3k | €7k | €11k | ▲ 53.3% |
| Other operating charges640/8 | €348 | €607 | €2k | €911 | ▼ 46.6% |
| Gross operating margin9900 | €55k | €279k | €198k | €267k | ▲ 34.4% |
| Operating profit (loss)9901 | €55k | €275k | €190k | €255k | ▲ 34.4% |
| Financial income75/76B | - | €1k | €5k | €12k | ▲ 155% |
| Recurring financial income75 | - | €1k | €5k | €12k | ▲ 155% |
| Financial charges65/66B | €49 | €3k | €2k | €4k | ▲ 93.4% |
| Recurring financial charges65 | €49 | €3k | €2k | €4k | ▲ 93.4% |
| Profit (loss) for the period before taxes9903 | €55k | €273k | €192k | €263k | ▲ 36.7% |
| Income taxes67/77 | €11k | €68k | €47k | €65k | ▲ 38.7% |
| Profit (loss) for the period9904 | €43k | €205k | €145k | €198k | ▲ 36.0% |
| Profit (loss) for the period to be appropriated9905 | €43k | €205k | €145k | €198k | ▲ 36.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €88k | €318k | €410k | €273k | ▼ 33.4% |
| Fixed assets21/28 | €10k | €18k | €45k | €56k | ▲ 25.1% |
| Tangible fixed assets22/27 | €10k | €18k | €45k | €56k | ▲ 25.1% |
| Plant, machinery and equipment23 | €6k | €14k | €23k | €19k | ▼ 19.2% |
| Furniture and vehicles24 | €4k | €4k | €22k | €34k | ▲ 57.7% |
| Other tangible fixed assets26 | - | - | - | €3k | - |
| Current assets29/58 | €78k | €300k | €365k | €217k | ▼ 40.6% |
| Amounts receivable after more than one year29 | - | €100k | €20k | - | - |
| Trade receivables290 | - | €100k | - | - | - |
| Other amounts receivable291 | - | - | €20k | - | - |
| Amounts receivable within one year40/41 | €38k | €24k | €116 | €21k | ▲ 18,364% |
| Trade receivables40 | €36k | €24k | - | €21k | - |
| Other amounts receivable41 | €2k | €221 | €116 | €303 | ▲ 162% |
| Current investments50/53 | - | - | €120k | €75k | ▼ 37.2% |
| Cash at bank and in hand54/58 | €38k | €173k | €223k | €117k | ▼ 47.3% |
| Deferred charges and accrued income490/1 | €3k | €2k | €3k | €3k | ▲ 8.4% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €88k | €318k | €410k | €273k | ▼ 33.4% |
| Equity10/15 | €45k | €251k | €396k | €200k | ▼ 49.6% |
| Contributions10/11 | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €43k | €249k | €394k | €198k | ▼ 49.8% |
| Amounts payable17/49 | €43k | €67k | €14k | €74k | ▲ 411% |
| Amounts payable within one year42/48 | €43k | €67k | €14k | €74k | ▲ 411% |
| Financial debts43 | €40 | €343 | €310 | €575 | ▲ 85.4% |
| Credit institutions430/8 | €40 | €343 | €310 | €575 | ▲ 85.4% |
| Trade debts44 | €16k | €12k | €574 | €2k | ▲ 240% |
| Suppliers440/4 | €16k | €12k | €574 | €2k | ▲ 240% |
| Taxes, remuneration and social security45 | €17k | €47k | €13k | €37k | ▲ 178% |
| Taxes450/3 | €17k | €47k | €13k | €35k | ▲ 161% |
| Remuneration and social security454/9 | - | - | - | €2k | - |
| Other amounts payable47/48 | €10k | €7k | €59 | €34k | ▲ 56,794% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43k | €205k | €145k | €198k | ▲ 36.0% |
| + Depreciation and write-downs630 | €179 | €3k | €7k | €11k | ▲ 53.3% |
| Operating cash flow (approximation) | €43k | €209k | €152k | €208k | ▲ 36.8% |
| Investment in fixed assets (approximation) | - | €-11k | €-34k | €-22k | ▲ 36.1% |
| Change in cash | - | €136k | €49k | €-105k | ▼ 313% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 6current ratio 25.33
Current ratio from 4.48 to 25.33; short-term debt falls from €67k to €14k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2022net €205k ▲374%
Operating result €275k, net result €205k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.48
Current ratio from 1.82 to 4.48.
31-12
Financial
Equity above €200kEq €251k ▲453%
2 profitable years in a row build equity to €251k.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Brussel · 1 establishment unit since 2022
Ground area
261 m²
Building footprint
120 m²
Volume, LiDAR
1,908 m³
Parcel 21805E0093/00G002, Brussels · tallest building 20.0 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SHINE
since 20222.336.978.834
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0093/00G002 | Brussels | 261 m² | 1 · 120 m² | 20.0 m · 6 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500CPLOEHDRM3KB21
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Of 8,315 companies in sector 90201 we hold annual accounts for 602. 453 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
Founded30-09-2022
Fiscal year end31-12
Activities, NACEBEL 2025
90201Performing arts by independent artists
59120Post-production of films, video and television programmes
90202Performing arts by artistic ensembles
Scores and ratios are computed by Checked and are not a credit decision.