SHORTCUT ADVERTISING
ActiveThe annual accounts of SHORTCUT ADVERTISING for fiscal year 2025 show a net loss of 77% of the equity at the start of that year. The 2025 annual accounts show equity of €39k and a net result of €-129k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 20% of 1633 sector peers (fiscal year 2025). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
37
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-9
Solvency33▼-32
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.08 against 1.66 in 2024; short-term debt: 91.2% and cash: 7.3% of total assets), and 91.7% 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
8.3%
Return on assets
-27.7%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-129k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 1633 sector peers (2025).
NBB · sector comparisonPosition among 1633 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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 · 10 filingsDeviation from the deadline
2025
2 d late
2024
4 d late
2023
1 d early
2022
on the day
2021
3 d late
2020
4 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close22-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€39k▼ 77.0%
2024 · €168k
2019: €188k
2020: €194k
2021: €195k
2022: €199k
2023: €199k
2024: €168k
2019 → 2025
Total assets
€468k▲ 12.3%
2024 · €417k
2019: €689k
2020: €662k
2021: €770k
2022: €546k
2023: €553k
2024: €417k
2019 → 2025
Net result
€-129k▼ 313%
2024 · €-31k
2019: €3k
2020: €6k
2021: €1k
2022: €20k
2023: €211
2024: €-31k
2019 → 2025
Working capital
€32k▼ 79.9%
2024 · €160k
2019: €126k
2020: €165k
2021: €179k
2022: €185k
2023: €179k
2024: €160k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€195k-€199k▲ 1.9%€199k▲ 0.1%€168k▼ 15.7%€39k▼ 77.0%
Operating result€18k-€40k▲ 123%€11k▼ 71.6%€-15k€-119k▼ 686%
Net result€1k-€20k▲ 1,391%€211▼ 98.9%€-31k€-129k▼ 313%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €119k in 2025 against €15k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €468k
Fixed assets
€9k▼ 39.1%
Current assets
€459k▲ 14.2%
Equity and liabilities €468k
Equity
€39k▼ 77.0%
Debt
€429k▲ 72.7%
The debt ratio rises from 59.7% to 91.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-113k▼
2024 · €-7k
Cash flow
€-124k▼
2024 · €-23k
Solvency
8.3%▼
2024 · 40.3%
Current ratio
1.08▼
2024 · 1.66
Quick ratio
1.08▼
2024 · 1.50
Debt / equity
11.12▲
2024 · 1.48
ROE
-335.2%▼
2024 · -18.7%
ROA
-27.7%▼
2024 · -7.5%
Interest coverage
-10.64▼
2024 · -0.43
Debt
€429k▲
2024 · €249k
Debt ≤ 1 year
€427k▲
2024 · €242k
Income taxes
€196▲
2024 · €192
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€417k€468k▲
Fixed assets21/28€14k€9k▼
Tangible fixed assets22/27€9k€3k▼
Plant, machinery and equipment23€6k€1k▼
Furniture and vehicles24€2k€2k▼
Financial fixed assets28€6k€6k=
Current assets29/58€402k€459k▲
Stocks and contracts in progress3€39k-
Contracts in progress37€39k-
Amounts receivable within one year40/41€190k€424k▲
Trade receivables40€140k€298k▲
Other amounts receivable41€49k€126k▲
Cash at bank and in hand54/58€173k€34k▼
Deferred charges and accrued income490/1€334€412▲
Equity and liabilities
Total equity and liabilities10/49€417k€468k▲
Equity10/15€168k€39k▼
Contributions10/11€6k€6k=
Reserves13€162k€32k▼
Distributable reserves133€162k€32k▼
Amounts payable17/49€249k€429k▲
Amounts payable within one year42/48€242k€427k▲
Financial debts43€200k€100k▼
Credit institutions430/8€200k€100k▼
Trade debts44€41k€326k▲
Suppliers440/4€41k€326k▲
Taxes, remuneration and social security45€507€511▲
Taxes450/3€507€511▲
Other amounts payable47/48€619€619=
Accrued charges and deferred income492/3€7k€2k▼
Income statement
Code20242025
Non-recurring operating income76A€2k-
Remuneration, social security and pensions62€81k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€6k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€15k€-770▼
Other operating charges640/8€16k€2k▼
Gross operating margin9900€104k€-111k▼
Operating profit (loss)9901€-15k€-119k▼
Financial income75/76B€318€2▼
Recurring financial income75€318€2▼
Financial charges65/66B€16k€11k▼
Recurring financial charges65€16k€11k▼
Profit (loss) for the period before taxes9903€-31k€-129k▼
Income taxes67/77€192€196▲
Profit (loss) for the period9904€-31k€-129k▼
Profit (loss) for the period to be appropriated9905€-31k€-129k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-31k€-129k▼
Transfer from equity791/2€31k€129k▲
Social balance
Average headcount (FTE)90871.5-
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
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 2 days late
2025
30-06
Financial
Weakest financial yearnet €-129k
Net result drops to €-129k, the lowest in the series.
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Highest result since 2019net €20k ▲1391%
Operating result €40k, net result €20k, both a record.
03-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 3 days late
2021
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
27-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
22-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Leuven · 1 establishment unit since 2007
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.
Schipvaartstraat 263000 LeuvenGround area
4.7 ha
Building footprint
3.9 ha
Volume, LiDAR
623,288 m³
2 parcels, Brussels, Flanders · tallest building 34.0 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
SHORTCUT ADVERTISING
since 20072.159.617.403
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21814P0441/00B000 | Brussels | 4.4 ha | 1 · 3.9 ha | 34.0 m · 6 fl. |
| 24062A0146/00P002 | Flanders | 2,797 m² | 1 · 426 m² | 19.6 m · 6 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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Of 808 companies in sector 73120 we hold annual accounts for 281. 190 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-01-2007
Fiscal year end30-06
Activities, NACEBEL
73110Advertising agencies
73120Media representation
74402
46190Agents in non-specialised wholesale trade
64200Holdings
64210Activities of holding companies
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
74141
74151
74401
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.