TRANSPARENCE
ActiveThe computed 12-month bankruptcy probability of TRANSPARENCE is 1.5% (moderate). The 2024 annual accounts show negative equity (€-97k) and a net result of €-71k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 26062 sector peers (fiscal year 2024). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
7
/ 100
Critical▼ -13 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency33=
Growth32=
Stability100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.18 in 2023), and equity is negative.
Credit advice for your own amount and term
Signals
Seven 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 10
Relative position
BE, all sectors
reference
Sector 10
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 2024Solvency, return and age of the figures
Solvency
-11.8%
Return on assets
-8.5%
Age of the figures
20 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
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€97k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-05-2025, 68 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
68 d early
2023
19 d early
2022
45 d late
2021
92 d late
2020
71 d early
2019
11 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-71k▼ 61.0%
2023 · €-44k
2018: €18k
2019: €13k
2020: €4k
2021: €4k
2022: €-22k
2023: €-44k
2018 → 2024
Working capital
€-292k▼ 41.5%
2023 · €-206k
2018: €-17k
2019: €-10k
2020: €-39k
2021: €-38k
2022: €-147k
2023: €-206k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€32k-€36k▲ 13.1%€17k▼ 52.9%€-27k€-97k▼ 263%
Operating result€11k-€12k▲ 11.9%€-5k€-12k▼ 156%€-25k▼ 112%
Net result€4k-€4k▲ 6.5%€-22k€-44k▼ 103%€-71k▼ 61.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €25k in 2024 against €12k in 2023; the loss grows and 2024 is the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €827k
Fixed assets
€785k▼ 6.6%
Current assets
€42k▼ 8.9%
Key figures and ratios
EBITDA
€57k▼
2023 · €72k
Cash flow
€12k▼
2023 · €40k
Solvency
-11.8%▼
2023 · -3.0%
Current ratio
0.13▼
2023 · 0.18
Quick ratio
0.08▼
2023 · 0.13
Debt / equity
-9.50▲
2023 · -34.06
ROE
72.4%▼
2023 · 163.3%
ROA
-8.5%▼
2023 · -4.9%
Interest coverage
1.25▼
2023 · 2.24
Debt
€925k▲
2023 · €914k
Debt ≤ 1 year
€334k▲
2023 · €253k
Debt > 1 year
€589k▼
2023 · €659k
Income taxes
€317▼
2023 · €324
Staff costs
€187k▲
2023 · €167k
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€887k€827k▼
Fixed assets21/28€840k€785k▼
Intangible fixed assets21€302-
Tangible fixed assets22/27€840k€785k▼
Land and buildings22€348k€328k▼
Plant, machinery and equipment23€256k€237k▼
Furniture and vehicles24€3k€2k▼
Leasing and similar rights25€232k€218k▼
Current assets29/58€46k€42k▼
Stocks and contracts in progress3€14k€14k=
Stocks30/36€14k€14k=
Amounts receivable within one year40/41€9k€17k▲
Trade receivables40€8k€17k▲
Other amounts receivable41€1k-
Cash at bank and in hand54/58€23k€11k▼
Deferred charges and accrued income490/1€514€303▼
Equity and liabilities
Total equity and liabilities10/49€887k€827k▼
Equity10/15€-27k€-97k▼
Contributions10/11€30k€30k=
Reserves13€9k€9k=
Distributable reserves133€9k€9k=
Profit (loss) carried forward14€-65k€-136k▼
Amounts payable17/49€914k€925k▲
Amounts payable after more than one year17€659k€589k▼
Financial debts170/4€659k€589k▼
Amounts payable within one year42/48€253k€334k▲
Current portion of amounts payable after more than one year42€108k€123k▲
Financial debts43€25k€9k▼
Credit institutions430/8€25k€9k▼
Trade debts44€76k€114k▲
Suppliers440/4€76k€114k▲
Taxes, remuneration and social security45€25k€69k▲
Taxes450/3€5k€22k▲
Remuneration and social security454/9€20k€47k▲
Other amounts payable47/48€19k€18k▼
Accrued charges and deferred income492/3€2k€2k▲
Income statement
Code20232024
Remuneration, social security and pensions62€167k€187k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€84k€82k▼
Other operating charges640/8€11k€31k▲
Gross operating margin9900€250k€275k▲
Operating profit (loss)9901€-12k€-25k▼
Financial income75/76B€796€671▼
Recurring financial income75€796€671▼
Financial charges65/66B€32k€46k▲
Recurring financial charges65€32k€46k▲
Profit (loss) for the period before taxes9903€-43k€-70k▼
Income taxes67/77€324€317▼
Profit (loss) for the period9904€-44k€-71k▼
Profit (loss) for the period to be appropriated9905€-44k€-71k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-65k€-136k▼
Profit (loss) brought forward from the previous period14P€-22k€-65k▼
Social balance
Average headcount (FTE)90876.3-
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
24-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-71k
Net result drops to €-71k, the lowest in the series.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
14-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 45 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
20-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2025
Michael ISTACE
CurrentDirector · since 08-09-2025
08-09-2025
Michael ISTACE: Appointed as Director
20-03-2023
Sophie LAFALIZE: Resigned as Director
Location & real-estate footprint
Registered office, Paliseul · 1 establishment unit since 2015
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.
Rue du Chaffour 116850 PaliseulGround area
930 m²
Building footprint
521 m²
Volume, LiDAR
2,246 m³
Parcel 84050A1508/00H000, Wallonia · tallest building 9.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Rue du Chaffour 11, 6850 Paliseul
since 20152.238.555.310
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84050A1508/00H000 | Wallonia | 930 m² | 1 · 521 m² | 9.4 m · 1 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.
Similar companies · same sector, comparable size
SENAD
BE 0725.568.809
Schaarbeek · Eq €17k
Les Sucrées de Vincent
BE 0778.779.544
Waterloo · Eq €17k
BANKETBAKKERIJ JORIS
BE 0438.713.776
Aartselaar · Eq €17k
HAYDAR-23
BE 0774.630.320
Sint-Jans-Molenbeek · Eq €17k
MEHIRA
BE 0704.785.271
Aalst · Eq €17k
Of 4,201 companies in sector 10712 we hold annual accounts for 1,834. 1,151 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded08-01-2015
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 07-09-2026. Scores and ratios are computed by Checked and are not a credit decision.