THE LINE
ActiveSummary
THE LINE has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9k and a net result of €-6k. Equity is shrinking by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 66% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency87▼-11
Growth32=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.44 against 2.08 in 2024; short-term debt: 38% and cash: 54.4% of total assets), and 38% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
62%
Return on assets
-38.3%
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 €-6k
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 20-05-2026, 72 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
72 d early
2024
27 d late
2023
61 d early
2022
24 d early
2021
2 d early
2020
36 d early
2019
32 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€9k▼ 38.2%
2024 · €14k
2018: €43k
2019: €48k▲ +10.2% vs 2018
2020: €55k▲ +16.3% vs 2019highest in 8 years
2021: €53k▼ -4.2% vs 2020
2022: €47k▼ -10.6% vs 2021
2023: €39k▼ -18.0% vs 2022
2024: €14k▼ -62.7% vs 2023
2025: €9k▼ -38.2% vs 2024lowest in 8 years
2018 → 2025
Total assets
€14k▼ 27.5%
2024 · €20k
2018: €54k
2019: €58k▲ +8.0% vs 2018highest in 8 years
2020: €56k▼ -3.3% vs 2019
2021: €54k▼ -4.0% vs 2020
2022: €48k▼ -11.6% vs 2021
2023: €42k▼ -12.1% vs 2022
2024: €20k▼ -52.6% vs 2023
2025: €14k▼ -27.5% vs 2024lowest in 8 years
2018 → 2025
Net result
€-6k▲ 77.3%
2024 · €-24k
2018: €31khighest in 8 years
2019: €4k▼ -85.7% vs 2018
2020: €8k▲ +76.4% vs 2019
2021: €-2k▼ -130% vs 2020
2022: €-6k▼ -139% vs 2021
2023: €-9k▼ -52.4% vs 2022
2024: €-24k▼ -185% vs 2023lowest in 8 years
2025: €-6k▲ +77.3% vs 2024
2018 → 2025
Working capital
€2k▼ 58.7%
2024 · €6k
2018: €43k
2019: €47k▲ +8.1% vs 2018
2020: €55k▲ +17.1% vs 2019highest in 8 years
2021: €52k▼ -3.9% vs 2020
2022: €41k▼ -22.6% vs 2021
2023: €30k▼ -25.7% vs 2022
2024: €6k▼ -80.6% vs 2023
2025: €2k▼ -58.7% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€53k-€47k▼ 10.6%€39k▼ 18.0%€14k▼ 62.7%€9k▼ 38.2%
2021: €53khighest in 5 years
2022: €47k▼ -10.6% vs 2021
2023: €39k▼ -18.0% vs 2022
2024: €14k▼ -62.7% vs 2023
2025: €9k▼ -38.2% vs 2024lowest in 5 years
Operating result€-2k-€-6k▼ 147%€-8k▼ 51.1%€-24k▼ 191%€-5k▲ 77.5%
2021: €-2khighest in 5 years
2022: €-6k▼ -147% vs 2021
2023: €-8k▼ -51.1% vs 2022
2024: €-24k▼ -191% vs 2023lowest in 5 years
2025: €-5k▲ +77.5% vs 2024
Net result€-2k-€-6k▼ 139%€-9k▼ 52.4%€-24k▼ 185%€-6k▲ 77.3%
2021: €-2khighest in 5 years
2022: €-6k▼ -139% vs 2021
2023: €-9k▼ -52.4% vs 2022
2024: €-24k▼ -185% vs 2023lowest in 5 years
2025: €-6k▲ +77.3% vs 2024
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 €5k in 2025 against €24k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14k
Fixed assets
€7k ▼ 24.2%
Current assets
€8k ▼ 30.0%
Equity and liabilities €14k
Equity
€9k ▼ 38.2%
Debt
€5k ▲ 1.1%
Debt's share of the balance-sheet total rises from 27.2% to 38.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-3k
Cash flow
€-3k
Current ratio
1.44▼
2024 · 2.08
Debt to equity
0.61▲
2024 · 0.37
ROE
-61.8%▲
2024 · -168.3%
ROA
-38.3%▲
2024 · -122.5%
Interest coverage
-51.19
Debt ≤ 1 year
€5k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 35 lines
Balance sheet
Code20242025
Assets
Total assets20/58€20k€14k▼
Fixed assets21/28€9k€7k▼
Tangible fixed assets22/27€9k€7k▼
Plant, machinery and equipment23€9k€7k▼
Current assets29/58€11k€8k▼
Amounts receivable within one year40/41€6k€62▼
Trade receivables40€225-
Other amounts receivable41€5k€62▼
Cash at bank and in hand54/58€6k€8k▲
Equity and liabilities
Total equity and liabilities10/49€20k€14k▼
Equity10/15€14k€9k▼
Contributions10/11€12k€12k=
Reserves13€42k€42k=
Distributable reserves133€42k€42k=
Profit (loss) carried forward14€-40k€-45k▼
Amounts payable17/49€5k€5k▲
Amounts payable within one year42/48€5k€5k▲
Trade debts44€321€218▼
Suppliers440/4€321€218▼
Taxes, remuneration and social security45-€93
Taxes450/3-€93
Other amounts payable47/48€5k€5k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k
Other operating charges640/8€126€128▲
Gross operating margin9900€-24k€-3k▲
Operating profit (loss)9901€-24k€-5k▲
Financial income75/76B€23€3▼
Recurring financial income75€23€3▼
Financial charges65/66B€98€66▼
Recurring financial charges65€98€66▼
Profit (loss) for the period before taxes9903€-24k€-6k▲
Profit (loss) for the period9904€-24k€-6k▲
Profit (loss) for the period to be appropriated9905€-24k€-6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-40k€-45k▼
Profit (loss) brought forward from the previous period14P€-15k€-40k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €225 | €655 | €2k | - | €2k | - |
| Other operating charges640/8 | €111 | €112 | €115 | €126 | €128 | ▲ 1.6% |
| Gross operating margin9900 | €-2k | €-5k | €-7k | €-24k | €-3k | ▲ 86.5% |
| Operating profit (loss)9901 | €-2k | €-6k | €-8k | €-24k | €-5k | ▲ 77.5% |
| Financial income75/76B | €31 | €62 | €57 | €23 | €3 | ▼ 88.1% |
| Recurring financial income75 | €31 | €62 | €57 | €23 | €3 | ▼ 88.1% |
| Financial charges65/66B | €146 | €157 | €274 | €98 | €66 | ▼ 32.4% |
| Recurring financial charges65 | €146 | €157 | €274 | €98 | €66 | ▼ 32.4% |
| Profit (loss) for the period before taxes9903 | €-2k | €-6k | €-9k | €-24k | €-6k | ▲ 77.3% |
| Profit (loss) for the period9904 | €-2k | €-6k | €-9k | €-24k | €-6k | ▲ 77.3% |
| Profit (loss) for the period to be appropriated9905 | €-2k | €-6k | €-9k | €-24k | €-6k | ▲ 77.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54k | €48k | €42k | €20k | €14k | ▼ 27.5% |
| Fixed assets21/28 | €449 | €7k | €9k | €9k | €7k | ▼ 24.2% |
| Tangible fixed assets22/27 | €449 | €7k | €9k | €9k | €7k | ▼ 24.2% |
| Plant, machinery and equipment23 | €449 | €7k | €9k | €9k | €7k | ▼ 24.2% |
| Current assets29/58 | €54k | €41k | €33k | €11k | €8k | ▼ 30.0% |
| Amounts receivable within one year40/41 | €10k | €8k | €6k | €6k | €62 | ▼ 98.9% |
| Trade receivables40 | - | - | - | €225 | - | - |
| Other amounts receivable41 | €10k | €8k | €6k | €5k | €62 | ▼ 98.8% |
| Cash at bank and in hand54/58 | €43k | €25k | €19k | €6k | €8k | ▲ 35.8% |
| Deferred charges and accrued income490/1 | - | €8k | €8k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54k | €48k | €42k | €20k | €14k | ▼ 27.5% |
| Equity10/15 | €53k | €47k | €39k | €14k | €9k | ▼ 38.2% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €42k | €42k | €42k | €42k | €42k | = |
| Non-distributable reserves130/1 | €307 | €307 | - | - | - | - |
| Reserves not available under the articles1311 | €307 | €307 | - | - | - | - |
| Distributable reserves133 | €41k | €41k | €42k | €42k | €42k | = |
| Profit (loss) carried forward14 | €-1k | €-7k | €-15k | €-40k | €-45k | ▼ 14.0% |
| Amounts payable17/49 | €1k | €372 | €3k | €5k | €5k | ▲ 1.1% |
| Amounts payable within one year42/48 | €1k | €372 | €3k | €5k | €5k | ▲ 1.1% |
| Trade debts44 | €111 | €164 | €3k | €321 | €218 | ▼ 32.2% |
| Suppliers440/4 | €111 | €164 | €3k | €321 | €218 | ▼ 32.2% |
| Taxes, remuneration and social security45 | €775 | €92 | - | - | €93 | - |
| Taxes450/3 | €775 | €92 | - | - | €93 | - |
| Other amounts payable47/48 | €170 | €116 | €138 | €5k | €5k | ▲ 1.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €-6k | €-9k | €-24k | €-6k | ▲ 77.3% |
| + Depreciation and write-downs630 | €225 | €655 | €2k | - | €2k | - |
| Operating cash flow (approximation) | €-2k | €-5k | €-7k | €-24k | €-3k | ▲ 85.9% |
| Investment in fixed assets (approximation) | - | €-7k | €-4k | €0 | €0 | - |
| Change in cash | - | €-18k | €-6k | €-13k | €2k | ▲ 115% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity doublescurrent ratio 110.28
Current ratio from 50.72 to 110.28; short-term debt falls from €1k to €372.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 10current ratio 56.05
Current ratio from 5.38 to 56.05; short-term debt falls from €11k to €992.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Brugge · 1 establishment unit since 2017
Ground area
90 m²
Building footprint
61 m²
Volume, LiDAR
509 m³
Parcel 31802B0483/06B000, Flanders · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
THE LINE
since 20172.264.509.045
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31802B0483/06B000 | Flanders | 90 m² | 1 · 61 m² | 11.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
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 7,863 companies in sector 43341 we hold annual accounts for 2,663. 1,572 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
31009Manufacture of furniture
43342Specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.