TOSCA CAPITAL
ActiveFor the legal form of TOSCA CAPITAL, Checked does not compute a bankruptcy probability. The 2024 annual accounts show negative equity (€-15.58M) and a net result of €-884k. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
15
/ 100
Critical
The score weighs solvency, liquidity and profitability. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-84
Solvency0=
Growth32▼-26
Track record100
Credit verdict
No credit on open account
Liquidity short (current ratio 0.49 against 0.98 in 2023; short-term debt: 16.6% and cash: 0.5% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-15.58M
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-10-2025, 67 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
67 d late
2023
2 d early
2022
31 d late
2021
31 d early
2020
9 d early
2019
89 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-884k
2023 · €9.70M
2018: €-796k
2019: €-7k
2020: €-3k
2021: €-4k
2022: €-25.90M
2023: €9.70M
2018 → 2024
Working capital
€-101k▲ 42.5%
2023 · €-175k
2018: €-22.08M
2019: €-22.09M
2020: €-16.15M
2021: €-15.37M
2022: €-10.89M
2023: €-175k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.50M-€1.50M▼ 0.2%€-24.40M€-14.70M▲ 39.8%€-15.58M▼ 6.0%
Operating result€-3k-€-3k▼ 8.3%€-17.20M▼ 493,510%€8.17M€-565k
Net result€-3k-€-4k▼ 9.0%€-25.90M▼ 728,141%€9.70M€-884k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €565k after €8.17M in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.19M
Fixed assets
€1.09M▼ 32.3%
Current assets
€97k▼ 99.1%
Key figures and ratios
EBITDA
€-29k▼
2023 · €8.71M
Cash flow
€-348k▼
2023 · €10.24M
Current ratio
0.49▼
2023 · 0.98
Quick ratio
0.49▼
2023 · 0.98
Debt / equity
-1.08▲
2023 · -1.85
ROA
-74.3%▼
2023 · 77.8%
Interest coverage
-0.05▼
2023 · 4.09
Debt
€16.77M▼
2023 · €27.17M
Debt ≤ 1 year
€197k▼
2023 · €11.04M
Debt > 1 year
€15.38M=
2023 · €15.38M
A ratio outside any meaningful range has been withheld (balance sheet total €1.19M, equity €-15.58M).
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€12.48M€1.19M▼
Fixed assets21/28€1.61M€1.09M▼
Intangible fixed assets21€1.61M€1.07M▼
Tangible fixed assets22/27€39-
Plant, machinery and equipment23€39-
Financial fixed assets28€8k€22k▲
Current assets29/58€10.86M€97k▼
Amounts receivable within one year40/41€10.86M€91k▼
Trade receivables40€14k-
Other amounts receivable41€10.84M€91k▼
Cash at bank and in hand54/58€6k€5k▼
Equity and liabilities
Total equity and liabilities10/49€12.48M€1.19M▼
Equity10/15€-14.70M€-15.58M▼
Contributions10/11€530k€530k=
Reserves13€53k€53k=
Non-distributable reserves130/1€53k€53k=
Reserves not available under the articles1311€53k€53k=
Profit (loss) carried forward14€-15.28M€-16.16M▼
Amounts payable17/49€27.17M€16.77M▼
Amounts payable after more than one year17€15.38M€15.38M=
Financial debts170/4€15.38M€15.38M=
Amounts payable within one year42/48€11.04M€197k▼
Trade debts44€12k€325▼
Suppliers440/4€12k€325▼
Taxes, remuneration and social security45€8k€8k=
Taxes450/3€8k€8k=
Other amounts payable47/48€11.02M€189k▼
Accrued charges and deferred income492/3€754k€1.19M▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€536k€535k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-10.54M-
Other operating charges640/8€5k€968▼
Non-recurring operating charges66A€1.80M-
Gross operating margin9900€-31k€-28k▲
Operating profit (loss)9901€8.17M€-565k▼
Financial income75/76B€3.66M€280k▼
Recurring financial income75€3.66M€280k▼
Financial charges65/66B€2.13M€599k▼
Recurring financial charges65€2.13M€599k▼
Profit (loss) for the period before taxes9903€9.70M€-884k▼
Profit (loss) for the period9904€9.70M€-884k▼
Profit (loss) for the period to be appropriated9905€9.70M€-884k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-15.28M€-16.16M▼
Profit (loss) brought forward from the previous period14P€-24.98M€-15.28M▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
06-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 67 days late
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €9.70M
Net result €9.70M after 5 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-25.90M
Net result drops to €-25.90M, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 89 days late
2019
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 146 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.
01-12-2025
NEXT GENERATION DEVELOPMENT: Resigned as Manager
01-12-2025
WAUCQUEZ Jean-Louis: Resigned as Manager
16-12-2021
Laurent Marian: Resigned as Director
16-12-2021
Olivier Marian: Resigned as Director
Location & real-estate footprint
Registered office, LUXEMBOURG
Cannot be placed on the map
The registered office is abroad (Luxembourg). The address register our map runs on (BOSA BEST) covers Belgian addresses only.
RUE GOETHE 24L.1637 LUXEMBOURGLuxembourgStructure & network
Connections & network
14 connected companiesNetwork connections
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Company data · Crossroads Bank
Identification
Legal formForeign entity
Founded29-05-2018
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filings
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.