THEMA
ActiveTHEMA has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.99M and a net result of €-183k. Equity is growing by ~38.3% per year across the filed fiscal years. Its solvency ranks better than 89% of 417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
68
/ 100
Healthy▲ +40 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency91▲+35
Growth52=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days acceptable
Liquidity ample (current ratio 1.58 against 0.04 in 2024), and 20.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sector 93
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
79.6%
Return on assets
-1.6%
Age of the figures
8 mo
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
7 d early
2023
8 d early
2022
17 d early
2021
108 d early
2020
3 d early
2019
7 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
14-09-2026 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
€-183k▼ 45.7%
2024 · €-126k
2018: €507k
2019: €-228k
2020: €-197k
2021: €24k
2022: €-161k
2023: €-102k
2024: €-126k
2018 → 2025
Working capital
€183k
2024 · €-1.90M
2018: €-51k
2019: €-73k
2020: €-88k
2021: €-10k
2022: €-206k
2023: €-1.69M
2024: €-1.90M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.44M-€3.79M▲ 55.6%€4.72M▲ 24.6%€4.60M▼ 2.7%€8.99M▲ 95.7%
Operating result€75k-€-136k€6k€36k▲ 471%€-25k
Net result€24k-€-161k€-102k▲ 36.9%€-126k▼ 23.5%€-183k▼ 45.7%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €25k after €36k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.30M
Fixed assets
€10.80M▲ 5.4%
Current assets
€500k▲ 511%
Equity and liabilities €11.30M
Equity
€8.99M▲ 95.7%
Debt
€2.31M▼ 59.8%
The debt ratio falls from 55.5% to 20.4%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€271k▲
2024 · €253k
Cash flow
€113k▲
2024 · €91k
Solvency
79.6%▲
2024 · 44.5%
Current ratio
1.58▲
2024 · 0.04
Quick ratio
1.58▲
2024 · 0.04
Debt / equity
0.26▼
2024 · 1.25
ROE
-2.0%▲
2024 · -2.7%
ROA
-1.6%▼
2024 · -1.2%
Interest coverage
1.67▲
2024 · 1.56
Debt
€2.31M▼
2024 · €5.74M
Debt ≤ 1 year
€317k▼
2024 · €1.98M
Debt > 1 year
€1.99M▼
2024 · €3.75M
Income taxes
€2k
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€10.34M€11.30M▲
Fixed assets21/28€10.25M€10.80M▲
Tangible fixed assets22/27€10.25M€10.80M▲
Land and buildings22€10.25M€10.80M▲
Current assets29/58€82k€500k▲
Amounts receivable within one year40/41€79k€463k▲
Trade receivables40€79k€74k▼
Other amounts receivable41€0€389k▲
Cash at bank and in hand54/58€3k€2k▼
Deferred charges and accrued income490/1€0€35k▲
Equity and liabilities
Total equity and liabilities10/49€10.34M€11.30M▲
Equity10/15€4.60M€8.99M▲
Contributions10/11€6.90M€11.48M▲
Capital10€6.90M€11.48M▲
Issued capital100€6.90M€11.90M▲
Uncalled capital101-€420k
Reserves13€176k€176k=
Non-distributable reserves130/1€3k€3k=
Legal reserve130€3k€3k=
Tax-exempt reserves132€173k€173k=
Profit (loss) carried forward14€-2.48M€-2.66M▼
Amounts payable17/49€5.74M€2.31M▼
Amounts payable after more than one year17€3.75M€1.99M▼
Financial debts170/4€3.75M€1.99M▼
Amounts payable within one year42/48€1.98M€317k▼
Current portion of amounts payable after more than one year42€1.70M€300k▼
Trade debts44€263k€13k▼
Suppliers440/4€263k€13k▼
Taxes, remuneration and social security45€17k€4k▼
Taxes450/3€17k€4k▼
Accrued charges and deferred income492/3€5k€472▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€217k€296k▲
Other operating charges640/8€2k€9k▲
Gross operating margin9900€255k€280k▲
Operating profit (loss)9901€36k€-25k▼
Financial income75/76B€73€7k▲
Recurring financial income75€73€7k▲
Financial charges65/66B€162k€162k▲
Recurring financial charges65€162k€162k▲
Profit (loss) for the period before taxes9903€-126k€-181k▼
Income taxes67/77-€2k
Profit (loss) for the period9904€-126k€-183k▼
Profit (loss) for the period to be appropriated9905€-126k€-183k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-2.48M€-2.66M▼
Profit (loss) brought forward from the previous period14P€-2.35M€-2.48M▼
The notes to these accounts (17 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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity times 38current ratio 1.58
Current ratio from 0.04 to 1.58; short-term debt falls from €1.98M to €317k.
31-12
Financial
Equity above €5MEq €8.99M ▲95.7%
Equity rises from €4.60M to €8.99M.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €24k
Net result €24k after 2 loss-making years.
31-12
Financial
Equity above €2MEq €2.44M ▲268%
Equity rises from €661k to €2.44M.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €-228k ▼145%
Net result drops to €-228k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Zandhoven · 1 establishment unit since 1978
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.
Vierselbaan 1112240 ZandhovenGround area
5.3 ha
Building footprint
1,122 m²
Volume, LiDAR
7,741 m³
Parcel 11054C0531/00R000, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Vierselbaan 111, 2240 Zandhoven
since 19782.015.040.683
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11054C0531/00R000 | Flanders | 5.3 ha | 1 · 1,122 m² | 10.9 m · 2 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 3,282 companies in sector 93110 we hold annual accounts for 1,488. 284 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-05-1978
Fiscal year end31-12
Activities, NACEBEL
51110
93110Operation of sports facilities
46110Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 48 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.
Contact details
3 entriesE-mail:thema@telenet.be
Phone:03/484.52.91
Fax:03/484.65.91