Subisco
ActiveSubisco has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €100k and a net result of €-10k. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 59% of 11297 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▼-75
Solvency78▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.06 against 2.35 in 2024; short-term debt: 42.8% and cash: 27.1% of total assets), and 46.6% 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 →
raises risk · 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 2025Solvency, return and age of the figures
Solvency
53.4%
Return on assets
-5.4%
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
29 d late
2023
86 d late
2022
25 d late
2021
29 d late
2020
30 d late
2019
28 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€100k▼ 9.1%
2024 · €110k
2018: €49k
2019: €61k
2020: €56k
2021: €60k
2022: €70k
2023: €82k
2024: €110k
2018 → 2025
Total assets
€187k▼ 2.4%
2024 · €191k
2018: €67k
2019: €100k
2020: €106k
2021: €115k
2022: €129k
2023: €138k
2024: €191k
2018 → 2025
Net result
€-10k
2024 · €28k
2018: €2k
2019: €12k
2020: €-4k
2021: €3k
2022: €10k
2023: €12k
2024: €28k
2018 → 2025
Working capital
€85k▼ 9.3%
2024 · €94k
2018: €44k
2019: €60k
2020: €49k
2021: €55k
2022: €68k
2023: €81k
2024: €94k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€60k-€70k▲ 17.3%€82k▲ 16.8%€110k▲ 33.7%€100k▼ 9.1%
Operating result€4k-€14k▲ 228%€16k▲ 9.0%€37k▲ 137%€-9k
Net result€3k-€10k▲ 197%€12k▲ 14.0%€28k▲ 134%€-10k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €9k after €37k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €187k
Fixed assets
€22k▼ 22.5%
Current assets
€165k▲ 1.1%
Equity and liabilities €187k
Equity
€100k▼ 9.1%
Debt
€87k▲ 6.8%
The debt ratio rises from 42.6% to 46.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2k▼
2024 · €41k
Cash flow
€-3k▼
2024 · €32k
Solvency
53.4%▼
2024 · 57.4%
Current ratio
2.06▼
2024 · 2.35
Quick ratio
2.06▼
2024 · 2.35
Debt / equity
0.87▲
2024 · 0.74
ROE
-10.0%▼
2024 · 25.2%
ROA
-5.4%▼
2024 · 14.4%
Interest coverage
-1.43▼
2024 · 63.75
Debt
€87k▲
2024 · €82k
Debt ≤ 1 year
€80k▲
2024 · €69k
Debt > 1 year
€7k▼
2024 · €12k
Income taxes
€-841▼
2024 · €9k
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€191k€187k▼
Fixed assets21/28€28k€22k▼
Tangible fixed assets22/27€28k€22k▼
Furniture and vehicles24€28k€22k▼
Financial fixed assets28€25€25=
Current assets29/58€163k€165k▲
Amounts receivable within one year40/41€112k€115k▲
Trade receivables40€18k€25k▲
Other amounts receivable41€95k€90k▼
Cash at bank and in hand54/58€51k€51k▼
Equity and liabilities
Total equity and liabilities10/49€191k€187k▼
Equity10/15€110k€100k▼
Contributions10/11€29k€29k=
Reserves13€11k€11k=
Non-distributable reserves130/1€11k€11k=
Reserves not available under the articles1311€11k€11k=
Profit (loss) carried forward14€70k€60k▼
Amounts payable17/49€82k€87k▲
Amounts payable after more than one year17€12k€7k▼
Financial debts170/4€12k€7k▼
Amounts payable within one year42/48€69k€80k▲
Current portion of amounts payable after more than one year42€5k€5k▲
Trade debts44€8k€19k▲
Suppliers440/4€8k€19k▲
Taxes, remuneration and social security45€13k€9k▼
Taxes450/3€13k€9k▼
Other amounts payable47/48€44k€47k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€7k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€35k
Other operating charges640/8€1k€786▼
Non-recurring operating charges66A€0-
Gross operating margin9900€43k€33k▼
Operating profit (loss)9901€37k€-9k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€650€2k▲
Recurring financial charges65€650€2k▲
Profit (loss) for the period before taxes9903€36k€-11k▼
Income taxes67/77€9k€-841▼
Profit (loss) for the period9904€28k€-10k▼
Profit (loss) for the period to be appropriated9905€28k€-10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€70k€60k▼
Profit (loss) brought forward from the previous period14P€42k€70k▲
The notes to these accounts (15 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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-10k ▼136%
Net result drops to €-10k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Highest result since 2018net €28k ▲134%
Operating result €37k, net result €28k, both a record.
31-12
Financial
Equity above €100kEq €110k ▲33.7%
4 profitable years in a row build equity to €110k.
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 86 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 22 days late
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Wavre · 1 establishment unit since 1975
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 du Gravier 41300 WavreGround area
182 m²
Building footprint
172 m²
Volume, LiDAR
1,383 m³
Parcel 25112M0160/00M000, Wallonia · tallest building 15.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Gravier 4, 1300 Wavre
since 19752.011.267.680
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112M0160/00M000 | Wallonia | 182 m² | 1 · 172 m² | 15.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 siteWavre2.011.267.680
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RAEIJMAEKERS
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Of 453 companies in sector 46360 we hold annual accounts for 286. 189 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-06-1975
Fiscal year end31-12
Activities, NACEBEL
46360Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.