Tortuga Bay
ActiveTortuga Bay has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €68k and a net result of €-10k. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 51% of 6965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency86▼-10
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.83 in 2024), and 44.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
55.9%
Return on assets
-8.2%
Age of the figures
17 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 22-10-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
43 d early
2023
6 d early
2022
4 d late
2021
2 d early
2020
30 d late
2019
44 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close14-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€68k▼ 12.9%
2024 · €78k
2019: €67k
2020: €66k
2021: €57k
2022: €59k
2023: €56k
2024: €78k
2019 → 2025
Total assets
€122k▲ 4.4%
2024 · €117k
2019: €235k
2020: €106k
2021: €85k
2022: €86k
2023: €81k
2024: €117k
2019 → 2025
Net result
€-10k
2024 · €23k
2019: €-9k
2020: €-1k
2021: €-8k
2022: €2k
2023: €-3k
2024: €23k
2019 → 2025
Working capital
€27k▼ 17.2%
2024 · €32k
2019: €-112k
2020: €2k
2021: €-7k
2022: €2k
2023: €3k
2024: €32k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€57k-€59k▲ 3.0%€56k▼ 5.9%€78k▲ 40.5%€68k▼ 12.9%
Operating result€-6k-€3k€-2k€25k€-11k
Net result€-8k-€2k€-3k€23k€-10k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €11k after €25k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €122k
Fixed assets
€42k▼ 9.8%
Current assets
€80k▲ 13.7%
Equity and liabilities €122k
Equity
€68k▼ 12.9%
Debt
€54k▲ 39.3%
The debt ratio rises from 33.1% to 44.1%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-6k▼
2024 · €33k
Cash flow
€-6k▼
2024 · €30k
Solvency
55.9%▼
2024 · 66.9%
Current ratio
1.49▼
2024 · 1.83
Quick ratio
1.49▼
2024 · 1.83
Debt / equity
0.79▲
2024 · 0.49
ROE
-14.7%▼
2024 · 28.8%
ROA
-8.2%▼
2024 · 19.3%
Interest coverage
-4.98▼
2024 · 15.42
Debt
€54k▲
2024 · €39k
Debt ≤ 1 year
€54k▲
2024 · €39k
Income taxes
€223▼
2024 · €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€117k€122k▲
Fixed assets21/28€46k€42k▼
Tangible fixed assets22/27€46k€42k▼
Land and buildings22€37k€34k▼
Plant, machinery and equipment23€9k€7k▼
Furniture and vehicles24€1k€932▼
Current assets29/58€71k€80k▲
Amounts receivable within one year40/41€68k€79k▲
Trade receivables40€18k€42k▲
Other amounts receivable41€50k€38k▼
Cash at bank and in hand54/58€1k€0▼
Deferred charges and accrued income490/1€961€991▲
Equity and liabilities
Total equity and liabilities10/49€117k€122k▲
Equity10/15€78k€68k▼
Contributions10/11€19k€19k=
Reserves13€59k€49k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€58k€48k▼
Profit (loss) carried forward14€327€266▼
Amounts payable17/49€39k€54k▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€39k€54k▲
Current portion of amounts payable after more than one year42€1k€0▼
Financial debts43€0€8k▲
Credit institutions430/8€0€8k▲
Trade debts44€29k€44k▲
Suppliers440/4€29k€44k▲
Taxes, remuneration and social security45€9k€1k▼
Taxes450/3€7k€1k▼
Remuneration and social security454/9€1k€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€5k▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€34k€-5k▼
Operating profit (loss)9901€25k€-11k▼
Financial income75/76B€2k€2k▲
Recurring financial income75€2k€2k▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€25k€-10k▼
Income taxes67/77€2k€223▼
Profit (loss) for the period9904€23k€-10k▼
Profit (loss) for the period to be appropriated9905€23k€-10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€20k€-10k▼
Profit (loss) brought forward from the previous period14P€-2k€327▲
Transfer from equity791/2-€10k
Transfer to equity691/2€20k€0▼
To other reserves6921€20k€0▼
The notes to these accounts (11 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
2025
22-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet €-10k ▼145%
Net result drops to €-10k, the lowest in the series.
2024
18-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Back to profitnet €23k
Net result €23k after one loss-making year.
2023
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
04-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
31-03
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
31-03
Financial
Liquidity quadruplescurrent ratio 1.08
Current ratio from 0.28 to 1.08; short-term debt falls from €157k to €30k.
2019
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
02-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 63 days late
2016
27-10
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
6 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, Antwerpen · 1 establishment unit since 1995
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.
Kattendijkdok-Westkaai 612000 AntwerpenGround area
1.5 ha
Building footprint
480 m²
Volume, LiDAR
16,243 m³
Parcel 11807G0129/05_000, Flanders · tallest building 65.5 m, ±12 floors. Linked by address, not a title deed.
1 establishment unit
Kattendijkdok-Westkaai 61, 2000 Antwerpen
since 19952.071.794.690
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G0129/05_000 | Flanders | 1.5 ha | 1 · 480 m² | 65.5 m · 12 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 9,807 companies in sector 73110 we hold annual accounts for 3,724. 3,011 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-05-1994
Fiscal year end31-03
Activities, NACEBEL
73110Advertising agencies
74401
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 30 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
1 entryE-mail:eric.dauchy@theconstellationgroup.eu