TARGET DISTRIBUTION
ActiveTARGET DISTRIBUTION has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-43k) and a net result of €854. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
32
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability38▲+38
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.6 against 0.65 in 2024; short-term debt: 164.8% of total assets), and equity is negative.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
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
-64.8%
Return on assets
1.3%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 27711 sector peers (2025).
NBB · sector comparisonPosition among 27711 sector peers
Solvency
better than 5%
← weakest
strongest →
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
31 d late
2023
92 d late
2022
94 d late
2021
31 d late
2020
55 d late
2019
185 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-43k▲ 1.9%
2024 · €-44k
2018: €64k
2019: €88k
2020: €101k
2021: €95k
2022: €89k
2023: €43k
2024: €-44k
2018 → 2025
Total assets
€67k▼ 20.6%
2024 · €84k
2018: €98k
2019: €315k
2020: €300k
2021: €305k
2022: €346k
2023: €304k
2024: €84k
2018 → 2025
Net result
€854
2024 · €-87k
2018: €12k
2019: €34k
2020: €13k
2021: €-5k
2022: €-6k
2023: €-46k
2024: €-87k
2018 → 2025
Working capital
€-44k▲ 3.6%
2024 · €-45k
2018: €59k
2019: €51k
2020: €68k
2021: €56k
2022: €39k
2023: €10k
2024: €-45k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€95k-€89k▼ 6.2%€43k▼ 51.6%€-44k€-43k▲ 1.9%
Operating result€99-€940▲ 848%€-53k€-81k▼ 51.8%€2k
Net result€-5k-€-6k▼ 15.6%€-46k▼ 679%€-87k▼ 89.2%€854
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €2k after a loss of €81k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €67k
Fixed assets
€385▼ 66.8%
Current assets
€66k▼ 20.0%
Key figures and ratios
EBITDA
€3k▲
2024 · €-80k
Cash flow
€2k▲
2024 · €-86k
Solvency
-64.8%▼
2024 · -52.5%
Current ratio
0.60▼
2024 · 0.65
Quick ratio
0.46▼
2024 · 0.54
Debt / equity
-2.54▲
2024 · -2.91
ROA
1.3%▲
2024 · -104.1%
Interest coverage
2.08▲
2024 · -11.78
Debt
€110k▼
2024 · €128k
Debt ≤ 1 year
€110k▼
2024 · €128k
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€84k€67k▼
Fixed assets21/28€1k€385▼
Tangible fixed assets22/27€1k€385▼
Plant, machinery and equipment23€198€14▼
Furniture and vehicles24€962€370▼
Current assets29/58€83k€66k▼
Stocks and contracts in progress3€14k€16k▲
Stocks30/36€14k€16k▲
Amounts receivable within one year40/41€69k€50k▼
Trade receivables40€20k€7k▼
Other amounts receivable41€48k€43k▼
Equity and liabilities
Total equity and liabilities10/49€84k€67k▼
Equity10/15€-44k€-43k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-65k€-64k▲
Amounts payable17/49€128k€110k▼
Amounts payable within one year42/48€128k€110k▼
Current portion of amounts payable after more than one year42€2k-
Financial debts43€5k€8k▲
Credit institutions430/8€5k€8k▲
Trade debts44€24k€4k▼
Suppliers440/4€24k€4k▼
Taxes, remuneration and social security45€4k€605▼
Taxes450/3€3k€605▼
Remuneration and social security454/9€1k-
Other amounts payable47/48€93k€97k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€887€776▼
Other operating charges640/8€5k€587▼
Non-recurring operating charges66A€78k€120▼
Gross operating margin9900€4k€4k▲
Operating profit (loss)9901€-81k€2k▲
Financial income75/76B€13€21▲
Recurring financial income75€13€21▲
Financial charges65/66B€7k€1k▼
Recurring financial charges65€7k€1k▼
Profit (loss) for the period before taxes9903€-87k€854▲
Profit (loss) for the period9904€-87k€854▲
Profit (loss) for the period to be appropriated9905€-87k€854▲
Appropriation of the result
Profit (loss) to be appropriated9906€-65k€-64k▲
Profit (loss) brought forward from the previous period14P€23k€-65k▼
The notes to these accounts (6 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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €854
Net result €854 after 4 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet €-87k
Net result drops to €-87k, the lowest in the series; recovery starts the following year.
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
02-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 94 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
01-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 185 days late
2020
31-12
Financial
Equity above €100kEq €101k ▲14.3%
3 profitable years in a row build equity to €101k.
2019
31-12
Financial
Highest result since 2018net €34k ▲185%
Operating result €43k, net result €34k, both a record.
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Aalst · 1 establishment unit since 2010
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.
Hoveniersstraat 569300 AalstGround area
1,045 m²
Building footprint
179 m²
Volume, LiDAR
1,070 m³
2 parcels, Flanders · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
TARGET DITRIBUTION
since 20102.284.897.653
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002B0153/00P000 | Flanders | 902 m² | 1 · 118 m² | 10.8 m · 1 fl. |
| 41303D0919/00W002 | Flanders | 143 m² | 1 · 61 m² | 10.6 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 540 EUR awarded · 540 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 315 EUR | 315 EUR |
| 2022 | 1 | 225 EUR | 225 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
Electrical Panel Service
BE 1013.264.077
Balen · Eq €43k
Belgian Innovation Group
BE 0471.668.042
Bekkevoort · Eq €43k
BORRE TECHNICS
BE 0668.370.283
Bekkevoort · Eq €44k
PASCAL DEFERME
BE 0841.195.183
Heusden-Zolder · Eq €44k
EGS TECHNIC
BE 0742.981.990
Ganshoren · Eq €44k
Of 1,123 companies in sector 43212 we hold annual accounts for 420. 348 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded12-04-2010
Fiscal year end31-12
Activities, NACEBEL
43212Electrical installation work in industrial facilities
46421Wholesale trade
46442Wholesale trade
46474Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.