TITULUS PICTUS
ActiveThe computed 12-month bankruptcy probability of TITULUS PICTUS is 2.3% (moderate). The 2025 annual accounts show negative equity (€-175k) and a net result of €-377k. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 9% of 4149 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
22
/ 100
Critical
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-26
Solvency11▼-26
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.56 against 0.72 in 2024; short-term debt: 94.5% and cash: 4.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Ten signals. The signal on the left, the evidence on the right.
−lowers risk+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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
-13.8%
Return on assets
-29.8%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-175k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
29 d late
2024
31 d late
2023
30 d late
2022
83 d late
2021
29 d late
2020
31 d late
2019
31 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.36M
EBIT margin
-0.4%
Net result
€-377k▼ 927%
2024 · €-37k
2018: €-18k
2019: €27k
2020: €40k
2021: €84k
2022: €10k
2023: €-67k
2024: €-37k
2018 → 2025
Working capital
€-526k▼ 73.5%
2024 · €-303k
2018: €123k
2019: €-47k
2020: €-124k
2021: €-94k
2022: €-170k
2023: €-244k
2024: €-303k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€309k-€316k▲ 2.3%€246k▼ 22.1%€207k▼ 16.1%€-175k
Operating result€129k-€45k▼ 64.9%€-31k€4k€-342k
Net result€84k-€10k▼ 88.1%€-67k€-37k▲ 45.1%€-377k▼ 927%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €342k after €4k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.21M
Fixed assets
€543k▼ 38.7%
Current assets
€668k▼ 14.3%
Key figures and ratios
EBITDA
€-296k▼
2024 · €54k
Cash flow
€-331k▼
2024 · €13k
Solvency
-13.8%▼
2024 · 12.0%
Current ratio
0.56▼
2024 · 0.72
Quick ratio
0.24▼
2024 · 0.49
Debt / equity
-8.25▼
2024 · 7.34
ROA
-29.8%▼
2024 · -2.1%
Interest coverage
-7.18▼
2024 · 1.21
Debt
€1.44M▼
2024 · €1.52M
Debt ≤ 1 year
€1.19M▲
2024 · €1.08M
Debt > 1 year
€245k▼
2024 · €436k
Staff costs
€262k▼
2024 · €287k
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€1.73M€1.26M▼
Formation expenses20€59k€53k▼
Fixed assets21/28€887k€543k▼
Intangible fixed assets21€8k€2k▼
Tangible fixed assets22/27€746k€542k▼
Land and buildings22€676k€489k▼
Plant, machinery and equipment23€61k€46k▼
Furniture and vehicles24€9k€6k▼
Financial fixed assets28€133k-
Current assets29/58€780k€668k▼
Stocks and contracts in progress3€248k€384k▲
Stocks30/36€248k€384k▲
Amounts receivable within one year40/41€466k€228k▼
Trade receivables40€446k€202k▼
Other amounts receivable41€20k€26k▲
Cash at bank and in hand54/58€58k€54k▼
Deferred charges and accrued income490/1€8k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.73M€1.26M▼
Equity10/15€207k€-175k▼
Contributions10/11€110k€110k=
Capital10€110k€110k=
Issued capital100€110k€110k=
Reserves13€5k€5k=
Non-distributable reserves130/1€5k€5k=
Legal reserve130€5k€5k=
Profit (loss) carried forward14€51k€-327k▼
Investment grants15€41k€37k▼
Amounts payable17/49€1.52M€1.44M▼
Amounts payable after more than one year17€436k€245k▼
Financial debts170/4€436k€245k▼
Amounts payable within one year42/48€1.08M€1.19M▲
Current portion of amounts payable after more than one year42€391k€269k▼
Financial debts43€174k€293k▲
Credit institutions430/8€174k€293k▲
Trade debts44€195k€229k▲
Suppliers440/4€195k€229k▲
Advances received on contracts in progress46€4k-
Taxes, remuneration and social security45€121k€206k▲
Taxes450/3€85k€186k▲
Remuneration and social security454/9€37k€20k▼
Other amounts payable47/48€198k€198k▼
Income statement
Code20242025
Goods, raw materials, services and sundry goods60/61€1.45M€1.22M▼
Remuneration, social security and pensions62€287k€262k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€49k€46k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€253k
Other operating charges640/8€10k€12k▲
Non-recurring operating charges66A€684€162k▲
Gross operating margin9900€352k€394k▲
Operating profit (loss)9901€4k€-342k▼
Financial income75/76B€3k€6k▲
Recurring financial income75€3k€6k▲
Financial charges65/66B€44k€41k▼
Recurring financial charges65€44k€41k▼
Profit (loss) for the period before taxes9903€-37k€-377k▼
Profit (loss) for the period9904€-37k€-377k▼
Profit (loss) for the period to be appropriated9905€-37k€-377k▼
Appropriation of the result
Profit (loss) to be appropriated9906€51k€-327k▼
Profit (loss) brought forward from the previous period14P€88k€51k▼
Social balance
Average headcount (FTE)90876.94.8▼
The notes to these accounts (18 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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 29 days late
2025
31-12
Financial
Weakest financial yearnet €-377k
Net result drops to €-377k, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
22-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 83 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
31-12
Financial
Highest result since 2018net €84k ▲109%
Operating result €129k, net result €84k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Equity above €200kEq €226k ▲42.2%
2 profitable years in a row build equity to €226k.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
31-12
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
31-12
Financial
Equity above €150kEq €159k ▲19.4%
Equity rises from €133k to €159k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
04-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 4 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
02-12-2025
Lardeux Baptiste: Resigned as Managing director
02-12-2025
Leempoel Martin: Resigned as Director
02-12-2025
Leempoel Sébastien: Resigned as Director
13-12-2022
Jean Paul DISPAUX: Resigned as Director
27-04-2018
Lardeux Baptiste: Resigned as Director
27-04-2018
Lardeux Baptiste: Resigned as Managing director
15-03-2013
Lardeux Baptiste: Resigned as Director
15-03-2013
Lardeux Baptiste: Resigned as Managing director
Location & real-estate footprint
Registered office, Elsene · 3 establishment units since 2011
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.
Waverse Steenweg 1671050 ElseneGround area
1.3 ha
Building footprint
1,468 m²
Volume, LiDAR
27,185 m³
3 parcels, Brussels · tallest building 24.6 m, ±8 floors. Linked by address, not a title deed.
3 establishment units
Titulus
since 20112.198.572.801
Bureau Titulus
since 20202.303.290.932
Titulus stock
since 20202.308.125.985
3 parcels
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0582/00A015 | Brussels | 9,313 m² | 1 · 886 m² | 24.6 m · 8 fl. |
| 21442A0079/00D011 | Brussels | 2,732 m² | 1 · 164 m² | 18.2 m · 5 fl. |
| 21009A0928/00F000 | Brussels | 983 m² | 1 · 417 m² | 16.9 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteElsene2.198.572.801
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Of 2,333 companies in sector 47251 we hold annual accounts for 422. 284 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-04-2011
Fiscal year end31-12
Activities, NACEBEL
47251Retail sale of wines and spirits
46190Agents in non-specialised wholesale trade
47252Retail sale of beverages, general range
47279Other retail sale of food
47299Retail trade
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
Sources
Crossroads Bank for EnterprisesNational Bank · 15 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.