STARTH
ActiveSTARTH has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €127k and a net result of €24k. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 85% of 11282 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability89▼-11
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 6.7 against 30.86 in 2024; short-term debt: 14.8% and cash: 11.5% of total assets), and 14.8% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
85.2%
Return on assets
16%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 01-02-2026, 1 day 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
1 d late
2024
1 d early
2023
8 d late
2022
27 d late
2021
4 d early
2020
26 d late
2019
13 d late
← 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 close20-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€127k▲ 23.1%
2024 · €103k
2019: €45k
2020: €47k
2021: €72k
2022: €88k
2023: €90k
2024: €103k
2019 → 2025
Total assets
€149k▲ 39.9%
2024 · €107k
2019: €74k
2020: €87k
2021: €88k
2022: €104k
2023: €98k
2024: €107k
2019 → 2025
Net result
€24k▼ 23.1%
2024 · €31k
2019: €3k
2020: €2k
2021: €24k
2022: €16k
2023: €2k
2024: €31k
2019 → 2025
Working capital
€126k▲ 24.4%
2024 · €101k
2019: €47k
2020: €57k
2021: €68k
2022: €85k
2023: €89k
2024: €101k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€72k-€88k▲ 23.0%€90k▲ 2.8%€103k▲ 14.0%€127k▲ 23.1%
Operating result€30k-€20k▼ 31.5%€-428€39k€28k▼ 27.6%
Net result€24k-€16k▼ 32.3%€2k▼ 85.2%€31k▲ 1,169%€24k▼ 23.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 28% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149k
Fixed assets
€1k▼ 32.4%
Current assets
€148k▲ 41.5%
Equity and liabilities €149k
Equity
€127k▲ 23.1%
Debt
€22k▲ 552%
The debt ratio rises from 3.2% to 14.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€30k▼
2024 · €41k
Cash flow
€25k▼
2024 · €32k
Solvency
85.2%▼
2024 · 96.8%
Current ratio
6.70▼
2024 · 30.86
Quick ratio
6.70▼
2024 · 30.86
Debt / equity
0.17▲
2024 · 0.03
ROE
18.8%▼
2024 · 30.0%
ROA
16.0%▼
2024 · 29.0%
Interest coverage
166.48▼
2024 · 265.01
Debt
€22k▲
2024 · €3k
Debt ≤ 1 year
€22k▲
2024 · €3k
Income taxes
€10k▼
2024 · €12k
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€107k€149k▲
Formation expenses20€586€293▼
Fixed assets21/28€2k€1k▼
Tangible fixed assets22/27€2k€1k▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28€25€25=
Current assets29/58€104k€148k▲
Amounts receivable within one year40/41€96k€130k▲
Trade receivables40€7k€36k▲
Other amounts receivable41€89k€94k▲
Cash at bank and in hand54/58€8k€17k▲
Deferred charges and accrued income490/1€241€250▲
Equity and liabilities
Total equity and liabilities10/49€107k€149k▲
Equity10/15€103k€127k▲
Contributions10/11€19k€19k=
Reserves13€82k€106k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€80k€104k▲
Profit (loss) carried forward14€3k€3k=
Amounts payable17/49€3k€22k▲
Amounts payable within one year42/48€3k€22k▲
Trade debts44-€14k
Suppliers440/4-€14k
Taxes, remuneration and social security45€3k€8k▲
Taxes450/3€3k€8k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k▼
Other operating charges640/8€1k€1k▼
Gross operating margin9900€42k€31k▼
Operating profit (loss)9901€39k€28k▼
Financial income75/76B€4k€6k▲
Recurring financial income75€4k€6k▲
Financial charges65/66B€154€178▲
Recurring financial charges65€154€178▲
Profit (loss) for the period before taxes9903€43k€34k▼
Income taxes67/77€12k€10k▼
Profit (loss) for the period9904€31k€24k▼
Profit (loss) for the period to be appropriated9905€31k€24k▼
Appropriation of the result
Profit (loss) to be appropriated9906€34k€27k▼
Profit (loss) brought forward from the previous period14P€3k€3k=
Transfer from equity791/2€18k-
Transfer to equity691/2€31k€24k▼
To other reserves6921€31k€24k▼
Profit to be distributed694/7€18k-
Return on contributions (dividend)694€18k-
The notes to these accounts (9 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
01-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 1 day late
2025
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Highest result since 2019net €31k ▲1169%
Operating result €39k, net result €31k, both a record.
30-06
Financial
Liquidity doublescurrent ratio 30.86
Current ratio from 14.34 to 30.86; short-term debt falls from €7k to €3k.
30-06
Financial
Equity above €100kEq €103k ▲14%
6 profitable years in a row build equity to €103k.
08-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
30-06
Financial
Liquidity doublescurrent ratio 14.34
Current ratio from 6.48 to 14.34; short-term debt falls from €15k to €7k.
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
Financial
Weakest financial yearnet €2k ▼34.7%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
13-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 13 days late
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
2017
16-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 16 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, Fontaine-l'Evêque · 1 establishment unit since 2009
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.
Rue des Closières 126141 Fontaine-l'EvêqueGround area
788 m²
Building footprint
135 m²
Volume, LiDAR
733 m³
2 parcels, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EL & CO
since 20092.179.811.219
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56302D0216/00R000 | Wallonia | 530 m² | 1 · 57 m² | 8.4 m · 2 fl. |
| 52023B1048/00R000 | Wallonia | 258 m² | 1 · 78 m² | 7.0 m · 1 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.
Similar companies · same sector, comparable size
M.AL EXPORT
BE 0833.693.224
Brussel · Eq €127k
PLP COATINGS
BE 0820.950.194
Tessenderlo-Ham · Eq €128k
GOODWOODZ
BE 0803.249.575
Brugge · Eq €130k
LEUZE MATERIAUX
BE 0738.471.193
Leuze-en-Hainaut · Eq €131k
INRANO INVEST
BE 0865.663.830
Turnhout · Eq €123k
Of 1,137 companies in sector 46130 we hold annual accounts for 646. 517 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-07-2009
Fiscal year end30-06
Activities, NACEBEL
46130Agents in the wholesale of timber and building materials
46190Agents in non-specialised wholesale trade
70200Business and other management consultancy
70220Business consulting
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 16 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:0475742245