SQUASH 22
ActiveSummary
SQUASH 22 has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €964,757 and a net result of -€33,717. Equity is growing by ~26.2% per year across the filed fiscal years. Its solvency ranks better than 54% of 437 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▼-53
Solvency62▼-23
Growth44▼-17
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity ample (current ratio 2.36 against 3.59 in 2024; short-term debt: 7.9% and cash: 15.4% of total assets), but 62.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer bankruptcies
← 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 · 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
37.1%
Return on assets
-1.3%
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
55 d early
2023
28 d late
2022
45 d early
2021
40 d early
2020
11 d late
2019
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 16 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€501,259▲ 16.8%
2020 · €429,106
EBIT margin
23.4%▲ 20.4pp
2020 · 3.0%
Net result
-€33,717
2024 · €275,954
Working capital
€278,174▼ 42.3%
2024 · €482,197
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€501,259▲ 16.8%
Operating result€117,328▲ 806%€274,609▲ 134%€265,449▼ 3.3%€366,320▲ 38.0%-€33,668
Net result€78,761above the sector's middle half▲ 1,504%€178,782above the sector's middle half▲ 127%€185,484above the sector's middle half▲ 3.7%€275,954above the sector's middle half▲ 48.8%-€33,717within the sector's middle half
EBIT margin23.4%▲ 20.4pp
Equity€358,255above the sector's middle half▲ 28.2%€537,037within the sector's middle half▲ 49.9%€722,520within the sector's middle half▲ 34.5%€998,474within the sector's middle half▲ 38.2%€964,757within the sector's middle half▼ 3.4%
Total assets€1.2mabove the sector's middle half▲ 3.4%€1.5mwithin the sector's middle half▲ 19.2%€1.5mwithin the sector's middle half▲ 4.8%€1.7mwithin the sector's middle half▲ 9.5%€2.6mwithin the sector's middle half▲ 55.1%
Debt€867,683▼ 4.2%€924,383▲ 6.5%€809,473▼ 12.4%€679,255▼ 16.1%€1.6m▲ 141%
Working capital€26,173within the sector's middle half€169,516within the sector's middle half▲ 548%€361,314within the sector's middle half▲ 113%€482,197within the sector's middle half▲ 33.5%€278,174within the sector's middle half▼ 42.3%
Solvency29.2%within the sector's middle half▲ 5.6pp36.7%within the sector's middle half▲ 7.5pp47.2%within the sector's middle half▲ 10.4pp59.5%within the sector's middle half▲ 12.4pp37.1%within the sector's middle half▼ 22.4pp
Current ratio1.13within the sector's middle half▲ 0.551.53within the sector's middle half▲ 0.402.40within the sector's middle half▲ 0.873.59above the sector's middle half▲ 1.192.36within the sector's middle half▼ 1.23
Return on assets (ROA)6.4%within the sector's middle half▲ 6.0pp12.2%above the sector's middle half▲ 5.8pp12.1%above the sector's middle half▼ 0.1pp16.4%above the sector's middle half▲ 4.3pp-1.3%within the sector's middle half▼ 17.7pp
Staff (FTE)5▲ 4.2%6.3within the sector's middle half▲ 26.0%6.3within the sector's middle half=5.9within the sector's middle half▼ 6.3%7.2within the sector's middle half▲ 22.0%
above
within
below
the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2022 Net result +127% on 2021. The accounts now follow the full schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €33,668 after €366,320 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.1m ▲ 110%
Current assets
€483,263 ▼ 27.7%
Equity and liabilities €2.6m
Equity
€964,757 ▼ 3.4%
Debt
€1.6m ▲ 141%
Debt's share of the balance-sheet total rises from 40.5% to 62.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€69,462▼
2024 · €449,576
Cash flow
€69,413▼
2024 · €359,209
Quick ratio
2.19▼
2024 · 3.44
Debt to equity
1.70▲
2024 · 0.68
ROE
-3.5%▼
2024 · 27.6%
Interest coverage
2.24▼
2024 · 82.51
Debt ≤ 1 year
€205,089▲
2024 · €186,133
Debt > 1 year
€1.4m▲
2024 · €493,122
Income taxes
€446▼
2024 · €121,062
Staff costs
€339,240▲
2024 · €286,656
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 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% 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 12,321 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €501,259 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €295,402 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €92,925 | €226,165 | €279,784 | €286,656 | €339,240 | ▲ 18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €69,338 | €70,857 | €61,694 | €83,255 | €103,130 | ▲ 23.9% |
| Other operating charges640/8 | €3,129 | €1,742 | €3,886 | €18,288 | €109,533 | ▲ 499% |
| Gross operating margin9900 | €282,721 | €573,374 | €610,812 | €754,520 | €518,235 | ▼ 31.3% |
| Operating profit (loss)9901 | €117,328 | €274,609 | €265,449 | €366,320 | -€33,668 | ▼ 109% |
| Financial income75/76B | €5,480 | €4,553 | €12,309 | €36,145 | €31,371 | ▼ 13.2% |
| Recurring financial income75 | €4,129 | €4,553 | €411 | €35,644 | €29,915 | ▼ 16.1% |
| Non-recurring financial income76B | €1,350 | - | €11,898 | €500 | €1,456 | ▲ 191% |
| Financial charges65/66B | €32,774 | €13,119 | €9,145 | €5,449 | €30,974 | ▲ 468% |
| Recurring financial charges65 | €13,334 | €13,119 | €9,145 | €5,449 | €30,974 | ▲ 468% |
| Non-recurring financial charges66B | €19,440 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €90,034 | €266,043 | €268,613 | €397,016 | -€33,272 | ▼ 108% |
| Income taxes67/77 | €11,273 | €87,261 | €83,129 | €121,062 | €446 | ▼ 99.6% |
| Profit (loss) for the period9904 | €78,761 | €178,782 | €185,484 | €275,954 | -€33,717 | ▼ 112% |
| Profit (loss) for the period to be appropriated9905 | €78,761 | €178,782 | €185,484 | €275,954 | -€33,717 | ▼ 112% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.5m | €1.5m | €1.7m | €2.6m | ▲ 55.1% |
| Fixed assets21/28 | €992,267 | €972,575 | €912,919 | €1.0m | €2.1m | ▲ 110% |
| Tangible fixed assets22/27 | €991,542 | €971,986 | €911,973 | €1.0m | €2.1m | ▲ 110% |
| Land and buildings22 | €850,430 | €821,132 | €791,834 | €762,536 | €1.9m | ▲ 144% |
| Plant, machinery and equipment23 | €125,929 | €142,913 | €102,157 | €204,959 | €183,032 | ▼ 10.7% |
| Furniture and vehicles24 | €15,183 | €7,941 | €17,982 | €41,147 | €76,775 | ▲ 86.6% |
| Financial fixed assets28 | €725 | €588 | €946 | €757 | - | - |
| Current assets29/58 | €233,671 | €488,845 | €619,075 | €668,330 | €483,263 | ▼ 27.7% |
| Amounts receivable after more than one year29 | - | - | - | €161,000 | €11,000 | ▼ 93.2% |
| Other amounts receivable291 | - | - | - | €161,000 | €11,000 | ▼ 93.2% |
| Stocks and contracts in progress3 | €28,369 | €38,933 | €43,047 | €28,144 | €34,185 | ▲ 21.5% |
| Stocks30/36 | €28,369 | €38,933 | €43,047 | €28,144 | €34,185 | ▲ 21.5% |
| Amounts receivable within one year40/41 | €61,000 | €65,530 | €377,309 | €138,544 | €26,464 | ▼ 80.9% |
| Trade receivables40 | €61,000 | €65,530 | €80,309 | €132,065 | €20,027 | ▼ 84.8% |
| Other amounts receivable41 | - | - | €297,000 | €6,479 | €6,438 | ▼ 0.6% |
| Cash at bank and in hand54/58 | €132,437 | €372,518 | €186,854 | €328,777 | €399,749 | ▲ 21.6% |
| Deferred charges and accrued income490/1 | €11,865 | €11,865 | €11,865 | €11,865 | €11,865 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.5m | €1.5m | €1.7m | €2.6m | ▲ 55.1% |
| Equity10/15 | €358,255 | €537,037 | €722,520 | €998,474 | €964,757 | ▼ 3.4% |
| Contributions10/11 | €248,000 | €248,000 | €248,000 | €248,000 | €248,000 | = |
| Capital10 | €248,000 | €248,000 | €248,000 | €248,000 | €248,000 | = |
| Issued capital100 | €248,000 | €248,000 | €248,000 | €248,000 | €248,000 | = |
| Reserves13 | €103,561 | €282,343 | €467,827 | €742,827 | €742,827 | = |
| Non-distributable reserves130/1 | €24,800 | €24,800 | €24,800 | €24,800 | €24,800 | = |
| Legal reserve130 | €24,800 | €24,800 | €24,800 | €24,800 | €24,800 | = |
| Distributable reserves133 | €78,761 | €257,543 | €443,027 | €718,027 | €718,027 | = |
| Profit (loss) carried forward14 | €6,694 | €6,694 | €6,694 | €7,648 | -€26,070 | ▼ 441% |
| Amounts payable17/49 | €867,683 | €924,383 | €809,473 | €679,255 | €1.6m | ▲ 141% |
| Amounts payable after more than one year17 | €660,185 | €605,054 | €551,713 | €493,122 | €1.4m | ▲ 191% |
| Financial debts170/4 | €660,185 | €605,054 | €551,713 | €493,122 | €1.4m | ▲ 191% |
| Amounts payable within one year42/48 | €207,498 | €319,329 | €257,760 | €186,133 | €205,089 | ▲ 10.2% |
| Current portion of amounts payable after more than one year42 | €66,393 | €61,539 | €53,709 | €58,159 | €105,395 | ▲ 81.2% |
| Trade debts44 | €23,565 | €59,766 | €29,399 | €9,284 | €15,205 | ▲ 63.8% |
| Suppliers440/4 | €23,565 | €59,766 | €29,399 | €9,284 | €15,205 | ▲ 63.8% |
| Taxes, remuneration and social security45 | €38,494 | €131,702 | €174,652 | €118,690 | €84,489 | ▼ 28.8% |
| Taxes450/3 | €27,152 | €113,642 | €140,916 | €94,959 | €45,518 | ▼ 52.1% |
| Remuneration and social security454/9 | €11,342 | €18,059 | €33,736 | €23,731 | €38,971 | ▲ 64.2% |
| Other amounts payable47/48 | €79,046 | €66,322 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78,761 | €178,782 | €185,484 | €275,954 | -€33,717 | ▼ 112% |
| + Depreciation and write-downs630 | €69,338 | €70,857 | €61,694 | €83,255 | €103,130 | ▲ 23.9% |
| Operating cash flow (approximation) | €148,099 | €249,639 | €247,178 | €359,209 | €69,413 | ▼ 80.7% |
| Investment in fixed assets (approximation) | - | -€51,165 | -€2,038 | -€179,736 | -€1.2m | ▼ 575% |
| Change in cash | - | €240,081 | -€185,664 | €141,923 | €70,972 | ▼ 50.0% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €275,954 ▲48.8%
Operating result €366,320, net result €275,954, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €500,000Eq €537,037 ▲49.9%
3 profitable years in a row build equity to €537,037.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 11 days late
2020
31-12
Financial
Back to profitnet €4,911
Net result €4,911 after 2 loss-making years.
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet -€63,167
Net result drops to -€63,167, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 39 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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, Liège · 1 establishment unit since 1988
Ground area
143 m²
Building footprint
94 m²
Volume, LiDAR
641 m³
Parcel 62805B0455/00B002, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Rue des Vingt-Deux 33, 4000 Liège
since 19882.039.384.715
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62805B0455/00B002 | Wallonia | 143 m² | 1 · 94 m² | 8.9 m · 2 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
Food safety, FASFC
1 siteLiège2.039.384.715
Similar companies · same sector, comparable size
BRAKELSPORTINVEST
BE 0847.389.030
Brakel · Eq €969,813
AGB Kontich
BE 0871.968.335
Kontich · Eq €974,580
THE OUTSIDER VLAAMSE ARDENNEN
BE 0534.389.628
Oudenaarde · Eq €953,520
SCHOUKENS TRAINING CENTER
BE 0897.287.315
Maldegem · Eq €977,552
Building Creations
BE 0841.336.230
Meerhout · Eq €949,952
Of 3,294 companies in sector 93110 we hold annual accounts for 1,500. 880 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded20-04-1988
Fiscal year end31-12
Activities, NACEBEL 2025
93110Operation of sports facilities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434120035
Registered
13-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.