Twenty Three
ActiveTwenty Three has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €565k and a net result of €-773k. Equity is growing by ~38% per year across the filed fiscal years. Its solvency ranks better than 25% of 237 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
7
/ 100
Critical▼ -74 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-100
Solvency20▼-30
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.84 against 1.17 in 2024), and 81.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+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 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 237 sector peers (2025).
NBB · sector comparisonPosition among 237 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-05-2026, 64 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
64 d early
2024
28 d late
2023
15 d early
2022
3 d early
2021
61 d late
2020
121 d late
2019
91 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€565k▼ 57.8%
2024 · €1.34M
2018: €185k
2019: €221k
2020: €262k
2021: €400k
2022: €626k
2023: €892k
2024: €1.34M
2018 → 2025
Total assets
€3.05M▼ 33.0%
2024 · €4.56M
2018: €387k
2019: €369k
2020: €573k
2021: €2.10M
2022: €2.70M
2023: €3.60M
2024: €4.56M
2018 → 2025
Net result
€-773k
2024 · €446k
2018: €173k
2019: €36k
2020: €42k
2021: €45k
2022: €276k
2023: €266k
2024: €446k
2018 → 2025
Working capital
€-245k
2024 · €367k
2018: €46k
2019: €-51k
2020: €68k
2021: €-43k
2022: €38k
2023: €374k
2024: €367k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€400k-€626k▲ 56.6%€892k▲ 42.5%€1.34M▲ 50.0%€565k▼ 57.8%
Operating result€70k-€363k▲ 420%€389k▲ 7.1%€720k▲ 85.2%€-674k
Net result€45k-€276k▲ 507%€266k▼ 3.7%€446k▲ 67.7%€-773k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €674k after €720k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.05M
Fixed assets
€1.81M▼ 13.5%
Current assets
€1.25M▼ 49.5%
Equity and liabilities €3.05M
Equity
€565k▼ 57.8%
Debt
€2.49M▼ 22.7%
The debt ratio rises from 70.7% to 81.5%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-402k▼
2024 · €974k
Cash flow
€-501k▼
2024 · €699k
Solvency
18.5%▼
2024 · 29.3%
Current ratio
0.84▼
2024 · 1.17
Quick ratio
0.63▼
2024 · 1.00
Debt / equity
4.41▲
2024 · 2.41
ROE
-136.9%▼
2024 · 33.3%
ROA
-25.3%▼
2024 · 9.8%
Interest coverage
-3.73▼
2024 · 5.74
Debt
€2.49M▼
2024 · €3.22M
Debt ≤ 1 year
€1.49M▼
2024 · €2.10M
Debt > 1 year
€998k▼
2024 · €1.12M
Income taxes
€7k▼
2024 · €137k
Staff costs
€396k▼
2024 · €517k
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€4.56M€3.05M▼
Fixed assets21/28€2.09M€1.81M▼
Intangible fixed assets21€284k€231k▼
Tangible fixed assets22/27€1.70M€1.48M▼
Land and buildings22€1.18M€1.12M▼
Plant, machinery and equipment23€481k€337k▼
Furniture and vehicles24€11k€9k▼
Leasing and similar rights25€25k€16k▼
Financial fixed assets28€109k€94k▼
Current assets29/58€2.47M€1.25M▼
Stocks and contracts in progress3€375k€305k▼
Stocks30/36€375k€305k▼
Amounts receivable within one year40/41€2.04M€810k▼
Trade receivables40€1.98M€647k▼
Other amounts receivable41€57k€164k▲
Cash at bank and in hand54/58€51k€130k▲
Deferred charges and accrued income490/1€639€1k▲
Equity and liabilities
Total equity and liabilities10/49€4.56M€3.05M▼
Equity10/15€1.34M€565k▼
Contributions10/11€62k€62k=
Reserves13€229k€229k=
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Tax-exempt reserves132€227k€227k=
Distributable reserves133-€2k
Profit (loss) carried forward14€1.05M€273k▼
Amounts payable17/49€3.22M€2.49M▼
Amounts payable after more than one year17€1.12M€998k▼
Financial debts170/4€1.08M€956k▼
Other amounts payable178/9€42k€42k=
Amounts payable within one year42/48€2.10M€1.49M▼
Current portion of amounts payable after more than one year42€239k€592k▲
Financial debts43€500k€420k▼
Credit institutions430/8€500k€420k▼
Trade debts44€1.09M€360k▼
Suppliers440/4€1.09M€360k▼
Taxes, remuneration and social security45€174k€118k▼
Taxes450/3€117k€96k▼
Remuneration and social security454/9€57k€22k▼
Other amounts payable47/48€100k€0▼
Income statement
Code20242025
Non-recurring operating income76A€11k€0▼
Remuneration, social security and pensions62€517k€396k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€253k€272k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€4k€0▼
Other operating charges640/8€15k€13k▼
Non-recurring operating charges66A-€21k
Gross operating margin9900€1.51M€27k▼
Operating profit (loss)9901€720k€-674k▼
Financial income75/76B€32k€16k▼
Recurring financial income75€32k€16k▼
Financial charges65/66B€170k€108k▼
Recurring financial charges65€170k€108k▼
Profit (loss) for the period before taxes9903€583k€-766k▼
Income taxes67/77€137k€7k▼
Profit (loss) for the period9904€446k€-773k▼
Transfer to tax-exempt reserves689€114k€0▼
Profit (loss) for the period to be appropriated9905€332k€-773k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.05M€273k▼
Profit (loss) brought forward from the previous period14P€714k€1.05M▲
Social balance
Average headcount (FTE)90876.65.4▼
The notes to these accounts (20 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
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-773k ▼273%
Net result drops to €-773k, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Highest result since 2018net €446k ▲67.7%
Operating result €720k, net result €446k, both a record.
31-12
Financial
Equity above €1MEq €1.34M ▲50%
7 profitable years in a row build equity to €1.34M.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €500kEq €626k ▲56.6%
5 profitable years in a row build equity to €626k.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 61 days late
2021
29-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 121 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 1.30
Current ratio from 0.50 to 1.30.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
31-12
Financial
Equity above €200kEq €221k ▲19.2%
2 profitable years in a row build equity to €221k.
16-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 47 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Izegem · 2 establishment units since 2017
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.
Hollebeekstraat 168870 IzegemGround area
9,597 m²
Building footprint
3,224 m²
Volume, LiDAR
20,662 m³
2 parcels, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Twenty Three
since 20172.262.232.020
Twenty Three
since 20252.380.839.462
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36494D1474/00D000 | Flanders | 5,065 m² | 1 · 618 m² | 9.8 m · 2 fl. |
| 37322D0024/00H005 | Flanders | 4,532 m² | 1 · 2,606 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
8945009JCUU9LRDWMS28
Similar companies · same sector, comparable size
LBV PARTNERS
BE 0436.219.391
Tournai · Eq €564k
A.T.F.C.
BE 0865.146.364
Ramillies · Eq €563k
METAALCONSTRUCTIE LEURIDAN
BE 0478.312.245
Wingene · Eq €567k
ROBO CONSTRUCTIONS METALLIQUES
BE 0475.645.141
Soignies · Eq €562k
ATELIERS LUCIEN DELPORTE
BE 0414.984.311
Tournai · Eq €561k
Of 3,964 companies in sector 25110 we hold annual accounts for 2,133. 1,524 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-03-2017
Fiscal year end31-12
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
31009Manufacture of furniture
74112Other professional, scientific and technical activities
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.twentythree.be
E-mail:Info@twentythree.be