TASE RESEARCH
ActiveTASE RESEARCH has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €911k and a net result of €129k. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 39% of 1397 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
91
/ 100
Excellent▲ +7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▲+54
Solvency58▼-11
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85k at 30 days acceptable
Liquidity ample (current ratio 1.78 against 2.48 in 2024), but 73.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 62
Relative position
BE, all sectors
reference
Sector 62
lower
← 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
26.5%
Return on assets
3.7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
7 d late
2024
28 d early
2023
15 d early
2022
19 d early
2021
13 d early
2020
18 d early
2019
22 d early
← 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€129k▲ 378%
2024 · €27k
2018: €-142k
2019: €-152k
2020: €122k
2021: €45k
2022: €144k
2023: €-7k
2024: €27k
2018 → 2025
Working capital
€1.16M▲ 6.3%
2024 · €1.10M
2018: €-267k
2019: €-326k
2020: €-165k
2021: €-97k
2022: €8k
2023: €924k
2024: €1.10M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€693k-€788k▲ 13.6%€780k▼ 0.9%€807k▲ 3.5%€911k▲ 12.9%
Operating result€54k-€152k▲ 182%€591▼ 99.6%€20k▲ 3,260%€122k▲ 513%
Net result€45k-€144k▲ 223%€-7k€27k€129k▲ 378%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 513% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.44M
Fixed assets
€784k▼ 10.1%
Current assets
€2.66M▲ 44.9%
Equity and liabilities €3.44M
Equity
€911k▲ 12.9%
Debt
€2.53M▲ 33.3%
The debt ratio rises from 70.2% to 73.5%: debt grows faster than equity.
Key figures and ratios
EBITDA
€246k▲
2024 · €143k
Cash flow
€253k▲
2024 · €150k
Solvency
26.5%▼
2024 · 29.8%
Current ratio
1.78▼
2024 · 2.48
Quick ratio
1.78▼
2024 · 2.47
Debt / equity
2.78▲
2024 · 2.35
ROE
14.2%▲
2024 · 3.3%
ROA
3.7%▲
2024 · 1.0%
Interest coverage
39.59▲
2024 · 15.82
Debt
€2.53M▲
2024 · €1.90M
Debt ≤ 1 year
€1.49M▲
2024 · €739k
Debt > 1 year
€74k▼
2024 · €142k
Income taxes
€2k▼
2024 · €5k
Staff costs
€450k▼
2024 · €495k
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€2.71M€3.44M▲
Fixed assets21/28€871k€784k▼
Intangible fixed assets21-€34k
Tangible fixed assets22/27€640k€518k▼
Land and buildings22€168k€157k▼
Plant, machinery and equipment23€409k€326k▼
Furniture and vehicles24€63k€35k▼
Financial fixed assets28€231k€231k=
Current assets29/58€1.83M€2.66M▲
Stocks and contracts in progress3€10k€700▼
Stocks30/36€10k€700▼
Amounts receivable within one year40/41€719k€1.40M▲
Trade receivables40€719k€1.24M▲
Other amounts receivable41€91€159k▲
Cash at bank and in hand54/58€1.10M€473k▼
Deferred charges and accrued income490/1€74€790k▲
Equity and liabilities
Total equity and liabilities10/49€2.71M€3.44M▲
Equity10/15€807k€911k▲
Contributions10/11€1.00M€1.00M=
Capital10€1.00M€1.00M=
Issued capital100€1.00M€1.00M=
Reserves13€22k€22k=
Non-distributable reserves130/1€20k€20k=
Legal reserve130€20k€20k=
Tax-exempt reserves132€2k€2k=
Profit (loss) carried forward14€-215k€-111k▲
Amounts payable17/49€1.90M€2.53M▲
Amounts payable after more than one year17€142k€74k▼
Financial debts170/4€142k€74k▼
Amounts payable within one year42/48€739k€1.49M▲
Current portion of amounts payable after more than one year42€142k€74k▼
Trade debts44€474k€962k▲
Suppliers440/4€474k€962k▲
Taxes, remuneration and social security45€107k€64k▼
Taxes450/3€49k€14k▼
Remuneration and social security454/9€58k€50k▼
Other amounts payable47/48€16k€395k▲
Accrued charges and deferred income492/3€1.02M€963k▼
Income statement
Code20242025
Remuneration, social security and pensions62€495k€450k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€123k€124k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€435-
Other operating charges640/8€9k€9k▲
Gross operating margin9900€647k€705k▲
Operating profit (loss)9901€20k€122k▲
Financial income75/76B€21k€15k▼
Recurring financial income75€21k€15k▼
Financial charges65/66B€9k€6k▼
Recurring financial charges65€9k€6k▼
Profit (loss) for the period before taxes9903€32k€131k▲
Income taxes67/77€5k€2k▼
Profit (loss) for the period9904€27k€129k▲
Profit (loss) for the period to be appropriated9905€27k€129k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-215k€-86k▲
Profit (loss) brought forward from the previous period14P€-242k€-215k▲
Profit to be distributed694/7-€25k
Return on contributions (dividend)694-€25k
Social balance
Average headcount (FTE)90877.77.6▼
The notes to these accounts (11 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
07-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 7 days late
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity doublescurrent ratio 2.06
Current ratio from 1.01 to 2.06; short-term debt falls from €1.61M to €872k.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €144k ▲223%
Operating result €152k, net result €144k, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €122k
Net result €122k after 2 loss-making years.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-152k
Net result drops to €-152k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Schaarbeek · 1 establishment unit since 1986
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.
Kolonel Picquartlaan 51-531030 SchaarbeekGround area
567 m²
Building footprint
243 m²
Volume, LiDAR
2,251 m³
Parcel 21015A0088/00X008, Brussels · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Kolonel Picquartlaan 51 5, 1030 Schaarbeek
since 19862.028.838.439
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21015A0088/00X008 | Brussels | 567 m² | 1 · 242 m² | 14.2 m · 4 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
Legal Entity Identifier
648860UXS33O58RHX954
Similar companies · same sector, comparable size
IMAC & RETAIL SERVICES
BE 0890.916.987
Bornem · Eq €912k
VITAMINE S
BE 0797.322.974
Elsene · Eq €912k
Elander
BE 1001.672.775
Lennik · Eq €910k
Wortell Belgium
BE 0879.683.397
Gent · Eq €913k
SO-HIN
BE 0878.735.371
Namur · Eq €910k
Of 29,889 companies in sector 62200 we hold annual accounts for 18,319. 8,987 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-01-1986
Fiscal year end31-12
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
72100
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.