STATE OF MIND

Active

Private limited companyfounded 20233 yrs activeMoreelstraat 94, 9470 Denderleeuw, BelgiumKBO/BCE: BE 0802.425.273

STATE OF MIND has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €38k and a net result of €17k. Its solvency ranks better than 21% of 19907 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).

Watch Print / PDF

Checked score

Score 2024

76 / 100

Excellent

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

Axes · tick = 2023

Profitability85▼-15

Solvency55▼-1

Growth52

Track record94

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2.5k at 30 days acceptable

Liquidity ample (current ratio 2.51 against 1.63 in 2023; short-term debt: 26.7% and cash: 19.4% of total assets), but 70% 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

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

−lowers risk+raises risk○neutral

Lower-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 86

Relative position

BE, all sectors

reference

Sector 86

lower

← 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

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

30%

Return on assets

13.1%

Age of the figures

21 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 19907 sector peers (2024).

NBB · sector comparison

Position among 19907 sector peers

Solvency

better than 21%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-06-2025, 40 days ahead of the deadline.

NBB · 2 filings

Deviation from the deadline

2025

not confirmed

2024

40 d early

2023

34 d early

← 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, micro schema

Equity

€38k▲ 71.2%

2023 · €22k

2023: €22k

2023 → 2024

Total assets

€126k▲ 78.9%

2023 · €70k

2023: €70k

2023 → 2024

Net result

€17k▼ 12.5%

2023 · €19k

2023: €19k

2023 → 2024

Working capital

€51k▲ 351%

2023 · €11k

2023: €11k

2023 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20232024Trend

Equity€22k-€38k▲ 71.2%

Operating result€25k-€24k▼ 4.8%

Net result€19k-€17k▼ 12.5%

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 2024; 2024 is 5% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €126k

33.0%

67.0%

Fixed assets €42k▲ 0.6%

Current assets €85k▲ 190%

Equity and liabilities €126k

30.0%

70.0%

Equity €38k▲ 71.2%

Debt €88k▲ 82.4%

The debt ratio rises from 68.6% to 70.0%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€33k▲

2023 · €30k

Cash flow

€26k▲

2023 · €24k

Solvency

30.0%▼

2023 · 31.4%

Current ratio

2.51▲

2023 · 1.63

Quick ratio

2.51▲

2023 · 1.63

Debt / equity

2.33▲

2023 · 2.19

ROE

43.7%▼

2023 · 85.5%

ROA

13.1%▼

2023 · 26.8%

Interest coverage

14.07▼

2023 · 25.37

Debt

€88k▲

2023 · €48k

Debt ≤ 1 year

€34k▲

2023 · €18k

Debt > 1 year

€54k▲

2023 · €30k

Income taxes

€5k▼

2023 · €5k

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€70k€126k▲

Fixed assets21/28€41k€42k▲

Tangible fixed assets22/27€41k€42k▲

Plant, machinery and equipment23-€6k

Furniture and vehicles24€3k€6k▲

Leasing and similar rights25€38k€30k▼

Current assets29/58€29k€85k▲

Amounts receivable after more than one year29€6k-

Trade receivables290€6k-

Amounts receivable within one year40/41€15k€60k▲

Other amounts receivable41€15k€60k▲

Cash at bank and in hand54/58€8k€25k▲

Equity and liabilities

Total equity and liabilities10/49€70k€126k▲

Equity10/15€22k€38k▲

Contributions10/11€4k€4k=

Reserves13€18k€34k▲

Distributable reserves133€18k€34k▲

Amounts payable17/49€48k€88k▲

Amounts payable after more than one year17€30k€54k▲

Financial debts170/4€30k€54k▲

Amounts payable within one year42/48€18k€34k▲

Current portion of amounts payable after more than one year42€8k€14k▲

Trade debts44-€6k

Suppliers440/4-€6k

Taxes, remuneration and social security45€8k€13k▲

Taxes450/3€8k€13k▲

Other amounts payable47/48€2k€476▼

Accrued charges and deferred income492/3€300€300=

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€9k▲

Other operating charges640/8€2k€2k▲

Gross operating margin9900€32k€36k▲

Operating profit (loss)9901€25k€24k▼

Financial charges65/66B€1k€2k▲

Recurring financial charges65€1k€2k▲

Profit (loss) for the period before taxes9903€24k€22k▼

Income taxes67/77€5k€5k▼

Profit (loss) for the period9904€19k€17k▼

Profit (loss) for the period to be appropriated9905€19k€17k▼

Appropriation of the result

Profit (loss) to be appropriated9906€19k€17k▼

Transfer to equity691/2€18k€16k▼

To other reserves6921€18k€16k▼

Profit to be distributed694/7€800€800=

Return on contributions (dividend)694€800€800=

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 2Filings 2

2025

21-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

27-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

NBB filing

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

Location & real-estate footprint

Registered office, Denderleeuw · 1 establishment unit since 2023

establishment The establishment unit 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.

Moreelstraat 949470 Denderleeuw

Ground area

759 m²

Building footprint

96 m²

Volume, LiDAR

464 m³