Source Publishing
ActiveSummary
The computed 12-month bankruptcy probability of Source Publishing is 3.4% (moderate). The 2025 annual accounts show equity of €3,776 and a net result of -€6,224. Its solvency ranks better than 31% of 22,513 sector peers (NACE 47, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €3,776
- Loss
- -€6,224
Why 48raises riskFounded in 2024Sector: Retail trade (NACE 47)Latest accounts 31 days late; 1 of the last 3 latelowers riskSize: total assets €31,479Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro): better than 28% on solvency, 5% on liquidity and 6% on profitability.
The bankruptcy probability was computed on 23-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · micro…
- IncorporationAppointment: GATES Kenneth Bruno (director)…
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00488866.
Turnover and EBIT margin not published: the micro format does not require them.
Peer companies
Historical observationOf the 177 companies that looked in July 2024 the way this one looks now, 3.4% went bankrupt within 24 months and 91.5% are still going.
- Micro
- under 2 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 3.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 177 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2025 |
|---|---|
| Gross operating margin9900 | -€6,025 |
| Operating profit (loss)9901 | -€6,025 |
| Financial charges65/66B | €199 |
| Recurring financial charges65 | €199 |
| Profit (loss) for the period before taxes9903 | -€6,224 |
| Profit (loss) for the period9904 | -€6,224 |
| Profit (loss) for the period to be appropriated9905 | -€6,224 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €31,479 | |
| Current assets29/58 | €31,479 | |
| Amounts receivable within one year40/41 | €1,011 | |
| Other amounts receivable41 | €1,011 | |
| Cash at bank and in hand54/58 | €468 | |
| Deferred charges and accrued income490/1 | €30,000 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €31,479 | |
| Equity10/15 | €3,776 | |
| Contributions10/11 | €10,000 | |
| Profit (loss) carried forward14 | -€6,224 | |
| Amounts payable17/49 | €27,703 | |
| Amounts payable within one year42/48 | €27,703 | |
| Trade debts44 | €11,703 | |
| Suppliers440/4 | €11,703 | |
| Other amounts payable47/48 | €16,000 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€6,224 |
| Operating cash flow (approximation) | -€6,224 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00488866 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| GATES Kenneth Bruno |
|
Owners and capital
Capital and shareholders
- GATES Kenneth Bruno 6,000 shares (60%) · €6,000
- WEKSTEIN Isabelle 1,000 shares (10%) · €1,000
- DIDAILLER Laurent 1,000 shares (10%) · €1,000
- KALETA Bertrand 1,000 shares (10%) · €1,000
- WASELLE Damien 1,000 shares (10%) · €1,000
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 29-10-2024 Incorporation · €10,000 · 10,000 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
29-10
Gazette deed
IncorporationAppointment: GATES Kenneth Bruno (director) · Founding capital · Capital9 facts ▸
- Incorporation, 24-10-2024
- Founding capital, €10,000
- Capital, €10,000
- Board composition, “administrateur”, 24-10-2024 (deed in French)
- Director appointment, GATES Kenneth Bruno (director (not named in the articles))
- Other provision, “acquisition de la personnalité juridique” (deed in French)
- Pre-incorporation commitments, “takeover, acquisition de la personnalité juridique” (deed in French)
- Power of attorney, DUBOIS Nathalie
- Power of attorney, Source Publishing
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 23 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21443C0191/00H016 | Brussels | 312 m² | 1 · 166 m² | 17.8 m · 5 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'édition d'œuvres musicales, audiovisuelles et littéraires; L'administration de droits éditoriaux de tiers; La gestion de droits voisins” (deed in French)
3 activities (deed in French)
- L'édition d'œuvres musicales, audiovisuelles et littéraires
- L'administration de droits éditoriaux de tiers
- La gestion de droits voisins
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- 5 provisions in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Chaque action donne un droit égal dans la répartition des bénéfices et des produits de la liquidation” (deed in French)“Titulaires peuvent prendre connaissance, registre des actions nominatives” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Toute forme de transfert ou engagement de transférer, à titre onéreux ou gratuit, la pleine propriété ou l'usufruit, l'organe…” (deed in French)
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 13 June at 15:00
- Meeting noticeHow and how far ahead shareholders are invited to a meeting; by law at least fifteen days.
- One provision in the deed
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- One provision in the deed
- Meeting procedureHow the meeting runs, from opening to minutes.
- One provision in the deed
- Meeting agendaHow the agenda is set and who may add items to it.
- One provision in the deed
- Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
- One provision in the deed
- Written decisionsDecisions without a meeting, when everyone involved agrees in writing.
- One provision in the deed
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- One provision in the deed
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed