SQUADRA B M

Active

Private limited companyfounded 20214 yrs activeKoolmeesstraat 17, 3530 Houthalen-Helchteren, BelgiumKBO/BCE: BE 0779.324.724

The computed 12-month bankruptcy probability of SQUADRA B M is 5.6% (elevated). The 2024 annual accounts show equity of €9k and a net result of €58k. Equity is shrinking by ~90.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 19% of 2935 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

41 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability77▲+77

Solvency26▲+8

Growth32=

Track record94

Bankruptcy probability, 12 months

5.6% Elevated

0%0.5%1.5%4%10%≥ 25%

No publishable credit limit; credit only on tighter terms

Liquidity short (current ratio 0.54 against 0.57 in 2023; short-term debt: 65.5% and cash: 9.7% of total assets), and 98.8% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

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 2024

Solvency, return and age of the figures

Solvency

1.2%

Return on assets

8.5%

Age of the figures

21 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 2935 sector peers (2024).

NBB · sector comparison

Position among 2935 sector peers

Solvency

better than 19%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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 · 3 filings

Deviation from the deadline

2025

not confirmed

2024

28 d late

2023

68 d late

2022

4 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€9k

2023 · €-50k

2022: €98k 2023: €-50k

2022 → 2024

Total assets

€685k▼ 8.4%

2023 · €748k

2022: €409k 2023: €748k

2022 → 2024

Net result

€58k

2023 · €-148k

2022: €88k 2023: €-148k

2022 → 2024

Working capital

€-207k▲ 1.0%

2023 · €-209k

2022: €75k 2023: €-209k

2022 → 2024

Multi-year overview

Available amounts per fiscal year

Line202220232024Trend

Equity€98k-€-50k€9k

Operating result€114k-€-120k€90k

Net result€88k-€-148k€58k

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €90k after a loss of €120k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €685k

64.7%

35.3%

Fixed assets €444k▼ 6.6%

Current assets €242k▼ 11.5%

Equity and liabilities €685k

98.8%

Equity €9k

Debt €677k

Debt finances 98.8% of the balance-sheet total.

Key figures and ratios

2024 value · change against 2023

EBITDA

€161k▲

2023 · €-72k

Cash flow

€129k▲

2023 · €-100k

Solvency

1.2%▲

2023 · -6.6%

Current ratio

0.54▼

2023 · 0.57

Quick ratio

0.37▲

2023 · 0.27

Debt / equity

79.61▲

2023 · -16.05

ROE

684.5%

ROA

8.5%▲

2023 · -19.8%

Interest coverage

5.71▲

2023 · -2.61

Debt

€677k▼

2023 · €797k

Debt ≤ 1 year

€449k▼

2023 · €482k

Debt > 1 year

€228k▼

2023 · €315k

Income taxes

€4k▲

2023 · €190

Staff costs

€441k▼

2023 · €462k

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€748k€685k▼

Fixed assets21/28€475k€444k▼

Tangible fixed assets22/27€475k€444k▼

Plant, machinery and equipment23€183k€164k▼

Furniture and vehicles24€47k€28k▼

Leasing and similar rights25-€32k

Other tangible fixed assets26€244k€219k▼

Current assets29/58€273k€242k▼

Stocks and contracts in progress3€144k€74k▼

Stocks30/36€144k€74k▼

Amounts receivable within one year40/41€107k€94k▼

Trade receivables40€73k€90k▲

Other amounts receivable41€34k€4k▼

Cash at bank and in hand54/58€19k€67k▲

Deferred charges and accrued income490/1€3k€7k▲

Equity and liabilities

Total equity and liabilities10/49€748k€685k▼

Equity10/15€-50k€9k▲

Contributions10/11€10k€10k=

Reserves13€0-

Distributable reserves133€0-

Profit (loss) carried forward14€-60k€-1k▲

Amounts payable17/49€797k€677k▼

Amounts payable after more than one year17€315k€228k▼

Financial debts170/4€181k€123k▼

Trade debts175€134k€104k▼

Amounts payable within one year42/48€482k€449k▼

Current portion of amounts payable after more than one year42€77k€101k▲

Financial debts43€20k€0▼

Credit institutions430/8€0-

Other loans439€20k€0▼

Trade debts44€140k€144k▲

Suppliers440/4€140k€144k▲

Advances received on contracts in progress46€3k€160▼

Taxes, remuneration and social security45€120k€108k▼

Taxes450/3€52k€48k▼

Remuneration and social security454/9€69k€60k▼

Other amounts payable47/48€122k€95k▼

Accrued charges and deferred income492/3€0€591▲

Income statement Code20232024

Non-recurring operating income76A€5k€454▼

Remuneration, social security and pensions62€462k€441k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€48k€71k▲

Other operating charges640/8€56k€56k▼

Gross operating margin9900€446k€658k▲

Operating profit (loss)9901€-120k€90k▲

Financial income75/76B€119€415▲

Recurring financial income75€119€415▲

Financial charges65/66B€28k€28k▲

Recurring financial charges65€28k€28k▲

Profit (loss) for the period before taxes9903€-148k€62k▲

Income taxes67/77€190€4k▲

Profit (loss) for the period9904€-148k€58k▲

Profit (loss) for the period to be appropriated9905€-148k€58k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-148k€-1k▲

Profit (loss) brought forward from the previous period14P-€-60k

Transfer from equity791/2€88k€0▼

Transfer to equity691/2€0-

To other reserves6921€0-

Social balance

Average headcount (FTE)908712.913.2▲

The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 5Financial 2Filings 3

2025

28-08

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 28 days late

2024

31-12

Financial Back to profitnet €58k

Net result €58k after one loss-making year.

07-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 68 days late

2023

31-12

Financial Weakest financial yearnet €-148k ▼268%

Net result drops to €-148k, the lowest in the series; recovery starts the following year.

04-08

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 4 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 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, Houthalen-Helchteren · 2 establishment units since 2022

establishment All 2 establishment units on the map

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.

Koolmeesstraat 173530 Houthalen-Helchteren

Ground area

8,578 m²

Building footprint

8,873 m²

Volume, LiDAR

98,149 m³

3 parcels, Flanders · tallest building 23.9 m, ±4 floors. Linked by address, not a title deed.

2 establishment units

Balena

Vennestraat 185, 3600 GenkFull-service restaurants

since 20222.332.064.694

Norma

C-Mine 1, 3600 GenkFull-service restaurants

since 20232.342.889.203

3 parcels

Flanders 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
71307H0052/00V014 ProtectedMonumentSteenkoolmijn Winterslag: fase 2Source ↗	Flanders	7,194 m²	1 · 8,127 m²	23.9 m · 4 fl.
72452E1161/00Y009	Flanders	1,115 m²	1 · 503 m²	11.8 m · 4 fl.
71307H0394/00G000	Flanders	269 m²	1 · 243 m²	12.2 m · 2 fl.