The Image Factory
ActiveThe annual accounts of The Image Factory for fiscal year 2025 show a net loss of 90% of the equity at the start of that year. The 2025 annual accounts show equity of €2k and a net result of €-16k. Equity is shrinking by ~13.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 18% of 1513 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
34
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability16▲+16
Solvency26▼-10
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.63 against 0.75 in 2024; short-term debt: 83.3% and cash: 0% of total assets), and 98.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 59
Relative position
BE, all sectors
reference
Sector 59
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
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
1.2%
Return on assets
-11.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-16k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 1513 sector peers (2025).
NBB · sector comparisonPosition among 1513 sector peers
Solvency
better than 18%
← 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 05-06-2026, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
56 d early
2024
36 d early
2023
33 d early
2022
31 d early
2021
4 d early
2020
60 d late
2019
68 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€2k▼ 90.2%
2024 · €17k
2018: €46k
2019: €46k
2020: €46k
2021: €105k
2022: €78k
2023: €58k
2024: €17k
2018 → 2025
Total assets
€141k▼ 8.1%
2024 · €153k
2018: €148k
2019: €132k
2020: €128k
2021: €164k
2022: €128k
2023: €165k
2024: €153k
2018 → 2025
Net result
€-16k▲ 61.6%
2024 · €-41k
2018: €-53k
2019: €468
2020: €-52
2021: €59k
2022: €-27k
2023: €-20k
2024: €-41k
2018 → 2025
Working capital
€-43k▼ 73.1%
2024 · €-25k
2018: €50k
2019: €39k
2020: €31k
2021: €111k
2022: €58k
2023: €22k
2024: €-25k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€105k-€78k▼ 26.1%€58k▼ 25.5%€17k▼ 70.1%€2k▼ 90.2%
Operating result€79k-€-25k€-13k▲ 48.4%€-34k▼ 159%€-7k▲ 78.4%
Net result€59k-€-27k€-20k▲ 27.8%€-41k▼ 105%€-16k▲ 61.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2025 against €34k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €141k
Fixed assets
€66k▼ 15.2%
Current assets
€74k▼ 0.7%
Equity and liabilities €141k
Equity
€2k▼ 90.2%
Debt
€139k▲ 2.4%
The debt ratio rises from 88.7% to 98.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€11k▲
2024 · €-15k
Cash flow
€3k▲
2024 · €-21k
Solvency
1.2%▼
2024 · 11.3%
Current ratio
0.63▼
2024 · 0.75
Quick ratio
0.63▼
2024 · 0.75
Debt / equity
81.83▲
2024 · 7.85
ROE
-918.9%▼
2024 · -234.6%
ROA
-11.1%▲
2024 · -26.5%
Interest coverage
1.34▲
2024 · -2.23
Debt
€139k▲
2024 · €136k
Debt ≤ 1 year
€117k▲
2024 · €100k
Debt > 1 year
€22k▼
2024 · €36k
Staff costs
€77k▲
2024 · €50k
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€153k€141k▼
Fixed assets21/28€78k€66k▼
Tangible fixed assets22/27€78k€66k▼
Plant, machinery and equipment23€7k€3k▼
Furniture and vehicles24€24k€20k▼
Other tangible fixed assets26€47k€42k▼
Financial fixed assets28€627€627=
Current assets29/58€75k€74k▼
Amounts receivable within one year40/41€55k€69k▲
Trade receivables40€46k€61k▲
Other amounts receivable41€9k€8k▼
Cash at bank and in hand54/58€16k€0▼
Deferred charges and accrued income490/1€3k€5k▲
Equity and liabilities
Total equity and liabilities10/49€153k€141k▼
Equity10/15€17k€2k▼
Contributions10/11€20k€20k=
Reserves13€35k€35k=
Distributable reserves133€35k€35k=
Profit (loss) carried forward14€-38k€-54k▼
Amounts payable17/49€136k€139k▲
Amounts payable after more than one year17€36k€22k▼
Financial debts170/4€36k€22k▼
Amounts payable within one year42/48€100k€117k▲
Current portion of amounts payable after more than one year42€14k€14k▲
Financial debts43€0€13k▲
Credit institutions430/8€0€13k▲
Trade debts44€29k€23k▼
Suppliers440/4€29k€23k▼
Taxes, remuneration and social security45€7k€11k▲
Taxes450/3€0€3k▲
Remuneration and social security454/9€7k€9k▲
Other amounts payable47/48€50k€55k▲
Accrued charges and deferred income492/3-€0
Income statement
Code20242025
Remuneration, social security and pensions62€50k€77k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€18k▼
Other operating charges640/8€1k€1k▼
Gross operating margin9900€37k€90k▲
Operating profit (loss)9901€-34k€-7k▲
Financial income75/76B€222€24▼
Recurring financial income75€222€24▼
Financial charges65/66B€7k€8k▲
Recurring financial charges65€7k€8k▲
Profit (loss) for the period before taxes9903€-41k€-16k▲
Profit (loss) for the period9904€-41k€-16k▲
Profit (loss) for the period to be appropriated9905€-41k€-16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-38k€-54k▼
Profit (loss) brought forward from the previous period14P€2k€-38k▼
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €59k
Net result €59k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 4.29
Current ratio from 1.38 to 4.29; short-term debt falls from €82k to €34k.
31-12
Financial
Equity above €100kEq €105k ▲127%
Equity rises from €46k to €105k.
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 60 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
2019
31-12
Financial
Back to profitnet €468
Net result €468 after one loss-making year.
12-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 43 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
10-07
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
5 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, Anderlecht · 1 establishment unit since 1999
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.
Bergense Steenweg 12751070 AnderlechtGround area
1.1 ha
Building footprint
3,826 m²
Volume, LiDAR
35,477 m³
Parcel 21307E0261/00G000, Brussels · tallest building 47.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
The Image Factory
since 19992.151.882.345
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21307E0261/00G000 | Brussels | 1.1 ha | 1 · 3,826 m² | 47.8 m · 3 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.
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Of 2,574 companies in sector 59113 we hold annual accounts for 703. 141 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-05-1999
Fiscal year end31-12
Activities, NACEBEL
59113Video and film production, excluding cinema and television films
74201Photography, excluding press photography
46432Wholesale trade
47742Retail sale of prescription glasses, lenses and sunglasses
47782Retail trade
74209Other photographic activities
Sources
Crossroads Bank for EnterprisesNational Bank · 26 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.