SILVER TREE INT.
ActiveSILVER TREE INT. has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €178k and a net result of €61k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 36% of 192 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2024
56
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability80▲+22
Solvency49▲+10
Growth85=
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 1.31 against 1.15 in 2023; short-term debt: 76% and cash: 16.7% of total assets), and 76.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · 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
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €178k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-10-2025, 79 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
not confirmed
2024
79 d late
2023
83 d late
2022
28 d late
2021
32 d early
2020
78 d late
2019
44 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€609k▼ 3.4%
2023 · €631k
2018: €25k
2019: €52k
2020: €32k
2021: €56k
2022: €64k
2023: €631k
2018 → 2024
EBIT margin
19.1%▲ 4.9pp
2023 · 14.3%
2018: -3.1%
2019: 8.6%
2020: -23.6%
2021: 3.0%
2022: -25.3%
2023: 14.3%
2018 → 2024
Net result
€61k▲ 13.5%
2023 · €54k
2018: €-1k
2019: €3k
2020: €-621
2021: €8k
2022: €37k
2023: €54k
2018 → 2024
Working capital
€181k▲ 73.2%
2023 · €104k
2018: €630
2019: €4k
2020: €3k
2021: €11k
2022: €45k
2023: €104k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€32k-€56k▲ 76.8%€64k▲ 14.8%€631k▲ 884%€609k▼ 3.4%
Equity€18k-€26k▲ 42.9%€63k▲ 142%€117k▲ 85.9%€178k▲ 52.5%
Operating result€-7k-€2k€-16k€90k€116k▲ 29.6%
Net result€-621-€8k€37k▲ 371%€54k▲ 46.6%€61k▲ 13.5%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 30% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €754k
Equity
€178k▲ 52.5%
Debt
€576k▼ 20.2%
The debt ratio falls from 86.1% to 76.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€117k▲
2023 · €91k
Cash flow
€62k▲
2023 · €55k
Solvency
23.6%▲
2023 · 13.9%
Current ratio
1.31▲
2023 · 1.15
Quick ratio
0.43▲
2023 · 0.28
Debt / equity
3.24▼
2023 · 6.20
ROE
34.4%▼
2023 · 46.2%
ROA
8.1%▲
2023 · 6.4%
Interest coverage
5.06▲
2023 · 2.52
Debt
€576k▼
2023 · €722k
Debt ≤ 1 year
€574k▼
2023 · €715k
Income taxes
€25k
Staff costs
€2k▲
2023 · €0
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€839k€754k▼
Fixed assets21/28€20k-
Tangible fixed assets22/27€20k-
Furniture and vehicles24€20k-
Current assets29/58€819k€754k▼
Stocks and contracts in progress3€621k€506k▼
Stocks30/36€621k€506k▼
Amounts receivable within one year40/41€149k€121k▼
Trade receivables40€89k€89k=
Other amounts receivable41€60k€33k▼
Current investments50/53€33k-
Cash at bank and in hand54/58€15k€126k▲
Deferred charges and accrued income490/1€770€770=
Equity and liabilities
Total equity and liabilities10/49€839k€754k▼
Equity10/15€117k€178k▲
Contributions10/11€31k€31k=
Capital10€31k-
Issued capital100€31k-
Reserves13€351€351=
Non-distributable reserves130/1€351€351=
Legal reserve130€351-
Reserves not available under the articles1311-€351
Profit (loss) carried forward14€85k€146k▲
Amounts payable17/49€722k€576k▼
Amounts payable after more than one year17€4k-
Other amounts payable178/9€4k-
Amounts payable within one year42/48€715k€574k▼
Financial debts43€488k€310k▼
Credit institutions430/8€488k€82k▼
Other loans439-€228k
Trade debts44€9k€9k=
Suppliers440/4€9k€9k=
Taxes, remuneration and social security45-€25k
Taxes450/3-€25k
Other amounts payable47/48€218k€229k▲
Accrued charges and deferred income492/3€3k€3k=
Income statement
Code20232024
Turnover70€631k€609k▼
Goods, raw materials, services and sundry goods60/61€566k€482k▼
Remuneration, social security and pensions62€0€2k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€974€903▼
Other operating charges640/8€2k€8k▲
Gross operating margin9900€93k€128k▲
Operating profit (loss)9901€90k€116k▲
Financial income75/76B€9€606▲
Recurring financial income75€9€606▲
Financial charges65/66B€36k€30k▼
Recurring financial charges65€36k€23k▼
Non-recurring financial charges66B-€7k
Profit (loss) for the period before taxes9903€54k€87k▲
Income taxes67/77-€25k
Profit (loss) for the period9904€54k€61k▲
Profit (loss) for the period to be appropriated9905€54k€61k▲
Appropriation of the result
Profit (loss) to be appropriated9906€85k€146k▲
Profit (loss) brought forward from the previous period14P€31k€85k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
18-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 79 days late
2024
31-12
Financial
Highest result since 2018net €61k ▲13.5%
Operating result €116k, net result €61k, both a record.
31-12
Financial
Equity above €150kEq €178k ▲52.5%
4 profitable years in a row build equity to €178k.
22-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 83 days late
2023
31-12
Financial
Equity above €100kEq €117k ▲85.9%
3 profitable years in a row build equity to €117k.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Liquidity times 12current ratio 14.87
Current ratio from 1.20 to 14.87; short-term debt falls from €55k to €3k.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
17-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 78 days late
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
07-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 18 days late
2016
21-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Elsene · 1 establishment unit since 2001
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.
Louizalaan 3471050 ElseneGround area
707 m²
Building footprint
263 m²
Volume, LiDAR
8,774 m³
Parcel 21807G0215/00R000, Brussels · tallest building 38.1 m, ±12 floors. Linked by address, not a title deed.
1 establishment unit
SILVER TREE INT.
since 20012.041.074.097
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0215/00R000 ProtectedMonumentTweede zetel van de Gestapo |
Brussels | 707 m² | 1 · 263 m² | 38.1 m · 12 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
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Of 1,845 companies in sector 79901 we hold annual accounts for 146. 114 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-11-1988
Fiscal year end31-12
Activities, NACEBEL
79901Tourist information services
46190Agents in non-specialised wholesale trade
68321Property management for co-owned buildings (syndics)
70200Business and other management consultancy
70220Business consulting
74142
82100Office administrative and support services
82190Office administrative, office support and other business support activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:+32 471 194 794