TOSALU is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €98.15M and a net result of €125.15M. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 79% of 2377 sector peers (fiscal year 2025). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €98.15M
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
2 d early
2023
23 d early
2022
11 d early
2021
25 d late
2020
12 d early
2019
41 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€98.15M▲ 104%
2024 · €48.00M
2018: €32.83M
2019: €33.35M
2020: €33.39M
2021: €33.40M
2022: €33.21M
2023: €33.32M
2024: €48.00M
2018 → 2025
Net result
€125.15M▲ 753%
2024 · €14.68M
2018: €812k
2019: €519k
2020: €496k
2021: €209k
2022: €-189k
2023: €109k
2024: €14.68M
2018 → 2025
Total assets
€107.00M▲ 88.3%
2024 · €56.82M
2018: €46.43M
2019: €45.03M
2020: €44.77M
2021: €43.71M
2022: €42.79M
2023: €42.44M
2024: €56.82M
2018 → 2025
Solvency
91.7%▲ 7.2pp
2024 · 84.5%
2018: 70.7%
2019: 74.1%
2020: 74.6%
2021: 76.4%
2022: 77.6%
2023: 78.5%
2024: 84.5%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€364k€359k▼ 1.4%
Equity€33.40M-€33.21M▼ 0.6%€33.32M▲ 0.3%€48.00M▲ 44.1%€98.15M▲ 104%
Operating result€94k-€-217k€-267k▼ 22.7%€-160k▲ 40.1%€-263k▼ 64.8%
Net result€209k-€-189k€109k€14.68M▲ 13,423%€125.15M▲ 753%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €263k in 2025 against €160k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €107.00M
Fixed assets
€100.58M▲ 77.5%
Current assets
€6.42M▲ 3,820%
Equity and liabilities €107.00M
Equity
€98.15M▲ 104%
Provisions
€557▼ 34.2%
Debt
€8.86M▲ 0.4%
The debt ratio falls from 15.5% to 8.3%. Equity and debt are higher.
Key figures and ratios
Solvency
91.7%▲
2024 · 84.5%
ROE
127.5%▲
2024 · 30.6%
ROA
117.0%▲
2024 · 25.8%
Debt
€8.86M▲
2024 · €8.82M
Debt ≤ 1 year
€1.38M▲
2024 · €591k
Debt > 1 year
€6.80M▼
2024 · €7.69M
Income taxes
€237k▲
2024 · €58k
Staff costs
€6k▼
2024 · €6k
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€56.82M€107.00M▲
Fixed assets21/28€56.65M€100.58M▲
Tangible fixed assets22/27€617k€617k▼
Land and buildings22€581k€594k▲
Furniture and vehicles24€36k€22k▼
Financial fixed assets28€56.04M€99.96M▲
Companies linked by participating interests282/3€54.32M€99.27M▲
Participating interests282€41.86M€20.72M▼
Amounts receivable283€12.47M€78.55M▲
Other financial fixed assets284/8€1.72M€696k▼
Shares284€1.71M€696k▼
Amounts receivable and cash guarantees285/8€592€592=
Current assets29/58€164k€6.42M▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€34k€15k▼
Trade receivables40€3k€0▼
Other amounts receivable41€31k€15k▼
Current investments50/53-€5.05M
Other investments51/53-€5.05M
Cash at bank and in hand54/58€119k€1.24M▲
Deferred charges and accrued income490/1€11k€114k▲
Equity and liabilities
Total equity and liabilities10/49€56.82M€107.00M▲
Equity10/15€48.00M€98.15M▲
Contributions10/11€17.58M€17.58M=
Capital10€17.54M€17.54M=
Issued capital100€17.54M€17.54M=
Outside capital11€45k€45k=
Share premium1100/10€45k€45k=
Reserves13€30.42M€80.56M▲
Non-distributable reserves130/1€1.17M€3.68M▲
Legal reserve130€1.17M€3.68M▲
Tax-exempt reserves132€0-
Distributable reserves133€29.25M€76.88M▲
Investment grants15€1k€816▼
Provisions and deferred taxes16€846€557▼
Deferred taxes168€846€557▼
Amounts payable17/49€8.82M€8.86M▲
Amounts payable after more than one year17€7.69M€6.80M▼
Financial debts170/4€7.69M€6.80M▼
Subordinated loans170€1.66M€1.06M▼
Credit institutions173€500k€214k▼
Other loans174€5.53M€5.53M▼
Amounts payable within one year42/48€591k€1.38M▲
Current portion of amounts payable after more than one year42€348k€286k▼
Trade debts44€50k€62k▲
Suppliers440/4€50k€62k▲
Taxes, remuneration and social security45€32k€260k▲
Taxes450/3€32k€260k▲
Other amounts payable47/48€161k€770k▲
Accrued charges and deferred income492/3€539k€679k▲
Income statement
Code20242025
Operating income70/76A€569k€533k▼
Turnover70€364k€359k▼
Other operating income74€205k€172k▼
Non-recurring operating income76A-€3k
Operating charges60/66A€729k€797k▲
Services and other goods61€559k€724k▲
Remuneration, social security and pensions62€6k€6k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€119k€49k▼
Other operating charges640/8€18k€17k▼
Non-recurring operating charges66A€27k€0▼
Operating profit (loss)9901€-160k€-263k▼
Financial income75/76B€15.15M€125.99M▲
Recurring financial income75€15.14M€125.99M▲
Income from financial fixed assets750€389k€1.11M▲
Income from current assets751€714k€863k▲
Other financial income752/9€14.04M€124.02M▲
Non-recurring financial income76B€2k€6k▲
Financial charges65/66B€251k€344k▲
Recurring financial charges65€251k€344k▲
Debt charges650€251k€309k▲
Other financial charges652/9€25€35k▲
Profit (loss) for the period before taxes9903€14.74M€125.39M▲
Income taxes67/77€58k€237k▲
Taxes670/3€58k€237k▲
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€14.68M€125.15M▲
Transfer from tax-exempt reserves789€46k€0▼
Profit (loss) for the period to be appropriated9905€14.72M€125.15M▲
Appropriation of the result
Profit (loss) to be appropriated9906€14.72M€125.15M▲
Transfer to equity691/2€14.72M€50.15M▲
To the legal reserve6920-€2.51M
To other reserves6921€14.72M€47.64M▲
Profit to be distributed694/7-€75.00M
Return on contributions (dividend)694-€75.00M
Social balance
Average headcount (FTE)90870.20.2=
The notes to these accounts (63 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €125.15M ▲753%
Net result €125.15M, the highest in the series.
31-12
Financial
Liquidity times 17current ratio 4.66
Current ratio from 0.28 to 4.66.
31-12
Financial
Equity above €50MEq €98.15M ▲104%
3 profitable years in a row build equity to €98.15M.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €109k
Net result €109k after one loss-making year.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
26-05
State Gazette act
Merger · Accounting effect
Capital · Corporate purpose
2022
31-12
Financial
Weakest financial yearnet €-189k ▼191%
Net result drops to €-189k, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 41 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Kortemark · 1 establishment unit since 2002
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.
Ellestraat 168610 KortemarkGround area
6,600 m²
Building footprint
685 m²
Volume, LiDAR
3,709 m³
Parcel 32011C1370/00D000, Flanders · tallest building 12.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ellestraat 16, 8610 Kortemark
since 20022.049.951.973
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32011C1370/00D000 | Flanders | 6,600 m² | 1 · 685 m² | 12.7 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600S1QZTBVPZ9YV11
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Of 24,726 companies in sector 64210 we hold annual accounts for 19,748. 1,836 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-09-1990
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
74142
74151
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 35 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.