The Nutshell
ActiveSummary
The Nutshell has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €67k and a net result of €43k. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 30% of 88 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability93▼-7
Solvency56▼-27
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 3.09 against 4.2 in 2025; short-term debt: 31.6% and cash: 69.2% of total assets), but 69.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
30.6%
Return on assets
19.6%
Age of the figures
6 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 22-05-2026, 162 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2026
162 d early
2025
31 d early
2024
44 d early
2023
131 d early
2022
25 d late
2021
61 d late
2020
48 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-03-2027 close31-10-2027 deadline
Financials · fiscal year 2026, micro schema
Equity
€67k▼ 43.9%
2025 · €119k
2019: €90k
2020: €191k▲ +112% vs 2019
2021: €165k▼ -13.6% vs 2020
2022: €186k▲ +12.8% vs 2021
2023: €212k▲ +13.8% vs 2022highest in 8 years
2024: €189k▼ -10.9% vs 2023
2025: €119k▼ -37.0% vs 2024
2026: €67k▼ -43.9% vs 2025lowest in 8 years
2019 → 2026
Total assets
€218k▲ 5.7%
2025 · €206k
2019: €229k
2020: €248k▲ +8.6% vs 2019
2021: €192k▼ -22.9% vs 2020lowest in 8 years
2022: €213k▲ +11.1% vs 2021
2023: €236k▲ +11.1% vs 2022
2024: €291k▲ +23.1% vs 2023highest in 8 years
2025: €206k▼ -29.2% vs 2024
2026: €218k▲ +5.7% vs 2025
2019 → 2026
Net result
€43k▼ 16.8%
2025 · €51k
2019: €97khighest in 8 years
2020: €91k▼ -6.8% vs 2019
2021: €54k▼ -40.4% vs 2020
2022: €21k▼ -60.9% vs 2021lowest in 8 years
2023: €26k▲ +21.3% vs 2022
2024: €25k▼ -2.5% vs 2023
2025: €51k▲ +105% vs 2024
2026: €43k▼ -16.8% vs 2025
2019 → 2026
Working capital
€143k▼ 6.2%
2025 · €153k
2019: €118klowest in 8 years
2020: €219k▲ +86.0% vs 2019
2021: €159k▼ -27.3% vs 2020
2022: €171k▲ +7.3% vs 2021
2023: €200k▲ +17.0% vs 2022
2024: €254k▲ +26.9% vs 2023highest in 8 years
2025: €153k▼ -39.8% vs 2024
2026: €143k▼ -6.2% vs 2025
2019 → 2026
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Equity€186k-€212k▲ 13.8%€189k▼ 10.9%€119k▼ 37.0%€67k▼ 43.9%
2022: €186k
2023: €212k▲ +13.8% vs 2022highest in 5 years
2024: €189k▼ -10.9% vs 2023
2025: €119k▼ -37.0% vs 2024
2026: €67k▼ -43.9% vs 2025lowest in 5 years
Operating result€30k-€37k▲ 20.2%€32k▼ 12.6%€65k▲ 104%€54k▼ 16.8%
2022: €30klowest in 5 years
2023: €37k▲ +20.2% vs 2022
2024: €32k▼ -12.6% vs 2023
2025: €65k▲ +104% vs 2024highest in 5 years
2026: €54k▼ -16.8% vs 2025
Net result€21k-€26k▲ 21.3%€25k▼ 2.5%€51k▲ 105%€43k▼ 16.8%
2022: €21klowest in 5 years
2023: €26k▲ +21.3% vs 2022
2024: €25k▼ -2.5% vs 2023
2025: €51k▲ +105% vs 2024highest in 5 years
2026: €43k▼ -16.8% vs 2025
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2026; 2026 is 17% below 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €218k
Fixed assets
€6k ▲ 6.4%
Current assets
€212k ▲ 5.7%
Equity and liabilities €218k
Equity
€67k ▼ 43.9%
Debt
€151k ▲ 73.7%
Debt's share of the balance-sheet total rises from 42.2% to 69.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€56k▼
2025 · €68k
Cash flow
€45k▼
2025 · €54k
Current ratio
3.09▼
2025 · 4.20
Debt to equity
2.26▲
2025 · 0.73
ROE
64.0%▲
2025 · 43.1%
ROA
19.6%▼
2025 · 24.9%
Interest coverage
165.06▲
2025 · 126.88
Debt ≤ 1 year
€69k▲
2025 · €48k
Income taxes
€11k▼
2025 · €13k
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 · 2026 against 2025 · 45 lines
Balance sheet
Code20252026
Assets
Total assets20/58€206k€218k▲
Fixed assets21/28€5k€6k▲
Tangible fixed assets22/27€3k€3k▲
Furniture and vehicles24€3k€3k▲
Financial fixed assets28€2k€2k=
Current assets29/58€201k€212k▲
Amounts receivable within one year40/41€94k€60k▼
Trade receivables40€64k€33k▼
Other amounts receivable41€29k€26k▼
Cash at bank and in hand54/58€107k€151k▲
Deferred charges and accrued income490/1€503€2k▲
Equity and liabilities
Total equity and liabilities10/49€206k€218k▲
Equity10/15€119k€67k▼
Contributions10/11€20k€20k=
Reserves13€47k€47k=
Distributable reserves133€47k€47k=
Profit (loss) carried forward14€52k€0▼
Amounts payable17/49€87k€151k▲
Amounts payable within one year42/48€48k€69k▲
Financial debts43€2k€2k▲
Credit institutions430/8€2k€2k▲
Trade debts44€22k€16k▼
Suppliers440/4€22k€16k▼
Taxes, remuneration and social security45€0€8k▲
Taxes450/3€0€8k▲
Remuneration and social security454/9€0€93▲
Other amounts payable47/48€24k€43k▲
Accrued charges and deferred income492/3€39k€82k▲
Income statement
Code20252026
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€840€864▲
Gross operating margin9900€69k€57k▼
Operating profit (loss)9901€65k€54k▼
Financial income75/76B€0€129▲
Recurring financial income75€0€129▲
Financial charges65/66B€537€341▼
Recurring financial charges65€537€341▼
Profit (loss) for the period before taxes9903€65k€54k▼
Income taxes67/77€13k€11k▼
Profit (loss) for the period9904€51k€43k▼
Profit (loss) for the period to be appropriated9905€51k€43k▼
Appropriation of the result
Profit (loss) to be appropriated9906€76k€95k▲
Profit (loss) brought forward from the previous period14P€25k€52k▲
Transfer from equity791/2€97k€0▼
Profit to be distributed694/7€121k€95k▼
Return on contributions (dividend)694€121k€95k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €3k | €3k | €3k | €2k | ▼ 30.3% |
| Other operating charges640/8 | €1k | €53k | €1k | €840 | €864 | ▲ 2.9% |
| Gross operating margin9900 | €35k | €93k | €36k | €69k | €57k | ▼ 17.2% |
| Operating profit (loss)9901 | €30k | €37k | €32k | €65k | €54k | ▼ 16.8% |
| Financial income75/76B | - | €104 | €0 | €0 | €129 | - |
| Recurring financial income75 | - | €104 | €0 | €0 | €129 | - |
| Financial charges65/66B | €270 | €243 | €207 | €537 | €341 | ▼ 36.5% |
| Recurring financial charges65 | €270 | €243 | €207 | €537 | €341 | ▼ 36.5% |
| Profit (loss) for the period before taxes9903 | €30k | €36k | €32k | €65k | €54k | ▼ 16.5% |
| Income taxes67/77 | €9k | €11k | €7k | €13k | €11k | ▼ 15.2% |
| Profit (loss) for the period9904 | €21k | €26k | €25k | €51k | €43k | ▼ 16.8% |
| Profit (loss) for the period to be appropriated9905 | €21k | €26k | €25k | €51k | €43k | ▼ 16.8% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €213k | €236k | €291k | €206k | €218k | ▲ 5.7% |
| Fixed assets21/28 | €15k | €12k | €8k | €5k | €6k | ▲ 6.4% |
| Tangible fixed assets22/27 | €13k | €9k | €6k | €3k | €3k | ▲ 11.4% |
| Furniture and vehicles24 | €13k | €9k | €6k | €3k | €3k | ▲ 11.4% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €198k | €225k | €283k | €201k | €212k | ▲ 5.7% |
| Amounts receivable within one year40/41 | €114k | €122k | €65k | €94k | €60k | ▼ 36.0% |
| Trade receivables40 | €58k | €64k | €33k | €64k | €33k | ▼ 47.8% |
| Other amounts receivable41 | €55k | €59k | €32k | €29k | €26k | ▼ 10.2% |
| Cash at bank and in hand54/58 | €84k | €102k | €216k | €107k | €151k | ▲ 41.3% |
| Deferred charges and accrued income490/1 | €339 | - | €2k | €503 | €2k | ▲ 218% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €213k | €236k | €291k | €206k | €218k | ▲ 5.7% |
| Equity10/15 | €186k | €212k | €189k | €119k | €67k | ▼ 43.9% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €166k | €192k | €144k | €47k | €47k | = |
| Non-distributable reserves130/1 | €2k | €1k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €1k | - | - | - | - |
| Own shares acquired1312 | - | - | €0 | - | - | - |
| Distributable reserves133 | €164k | €191k | €144k | €47k | €47k | = |
| Profit (loss) carried forward14 | - | - | €25k | €52k | €0 | ▼ 100% |
| Amounts payable17/49 | €26k | €24k | €102k | €87k | €151k | ▲ 73.7% |
| Amounts payable within one year42/48 | €26k | €24k | €29k | €48k | €69k | ▲ 43.9% |
| Financial debts43 | - | - | €2k | €2k | €2k | ▲ 21.7% |
| Credit institutions430/8 | - | - | €2k | €2k | €2k | ▲ 21.7% |
| Trade debts44 | €26k | €23k | €18k | €22k | €16k | ▼ 27.6% |
| Suppliers440/4 | €26k | €23k | €18k | €22k | €16k | ▼ 27.6% |
| Taxes, remuneration and social security45 | €35 | €1k | €3k | €0 | €8k | - |
| Taxes450/3 | €35 | €1k | €323 | €0 | €8k | - |
| Remuneration and social security454/9 | - | €180 | €3k | €0 | €93 | - |
| Other amounts payable47/48 | - | - | €6k | €24k | €43k | ▲ 77.9% |
| Accrued charges and deferred income492/3 | - | - | €73k | €39k | €82k | ▲ 110% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21k | €26k | €25k | €51k | €43k | ▼ 16.8% |
| + Depreciation and write-downs630 | €4k | €3k | €3k | €3k | €2k | ▼ 30.3% |
| Operating cash flow (approximation) | €25k | €29k | €28k | €54k | €45k | ▼ 17.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-2k | - |
| Change in cash | - | €18k | €114k | €-109k | €44k | ▲ 140% |
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 2027, expected by
2026
22-05
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
17-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €200kEq €212k ▲13.8%
5 profitable years in a row build equity to €212k.
2022
25-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
31-03
Financial
Weakest financial yearnet €21k ▼60.9%
Net result drops to €21k, the lowest in the series; recovery starts the following year.
2021
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2020
18-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 48 days late
31-03
Financial
Liquidity times 6current ratio 11.45
Current ratio from 2.07 to 11.45; short-term debt falls from €111k to €21k.
31-03
Financial
Equity above €150kEq €191k ▲112%
2 profitable years in a row build equity to €191k.
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 120 days late
2019
18-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 110 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, Gavere · 1 establishment unit since 2016
Ground area
69 m²
Building footprint
72 m²
Volume, LiDAR
438 m³
Parcel 44005A0835/00P000, Flanders · tallest building 8.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Prinsenmolenstraat 18, 9890 Gavere
since 20162.343.918.589
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44005A0835/00P000 | Flanders | 69 m² | 1 · 72 m² | 8.5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 5,585 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
Founded28-06-2016
Fiscal year end31-03
Activities, NACEBEL 2025
73300Public relations and communication consultancy
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.