ULTIMA THULE
ActiveULTIMA THULE has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21k and a net result of €3k. Equity is shrinking by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 52% of 11195 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
78
/ 100
Excellent= vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability79▼-21
Solvency76▼-3
Growth32=
Stability100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.46 in 2024), and 55.6% 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.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.4%
Return on assets
7%
Age of the figures
8 mo
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 31-03-2026, 122 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
122 d early
2024
1 d early
2023
29 d early
2022
3 d early
2021
1 d early
2020
31 d early
← 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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€21k=
2024 · €21k
2020: €35k
2021: €118k
2022: €136k
2023: €21k
2024: €21k
2020 → 2025
Total assets
€46k▲ 4.1%
2024 · €45k
2020: €76k
2021: €161k
2022: €176k
2023: €43k
2024: €45k
2020 → 2025
Net result
€3k▼ 55.9%
2024 · €7k
2020: €33k
2021: €83k
2022: €19k
2023: €16k
2024: €7k
2020 → 2025
Working capital
€10k▼ 10.4%
2024 · €11k
2020: €28k
2021: €99k
2022: €120k
2023: €8k
2024: €11k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€118k-€136k▲ 15.8%€21k▼ 84.9%€21k=€21k=
Operating result€105k-€27k▼ 74.3%€22k▼ 19.8%€11k▼ 47.7%€5k▼ 56.1%
Net result€83k-€19k▼ 77.5%€16k▼ 11.8%€7k▼ 54.9%€3k▼ 55.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 56% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €46k
Fixed assets
€11k▲ 12.0%
Current assets
€36k▲ 1.9%
Equity and liabilities €46k
Equity
€21k=
Debt
€26k▲ 7.6%
The debt ratio rises from 53.8% to 55.6%: debt grows faster than equity.
Key figures and ratios
EBITDA
€8k▼
2024 · €16k
Cash flow
€6k▼
2024 · €12k
Solvency
44.4%▼
2024 · 46.2%
Current ratio
1.38▼
2024 · 1.46
Quick ratio
1.38▼
2024 · 1.46
Debt / equity
1.25▲
2024 · 1.16
ROE
15.8%▼
2024 · 35.9%
ROA
7.0%▼
2024 · 16.6%
Interest coverage
76.03▼
2024 · 142.40
Debt
€26k▲
2024 · €24k
Debt ≤ 1 year
€26k▲
2024 · €24k
Income taxes
€2k▼
2024 · €4k
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€45k€46k▲
Fixed assets21/28€10k€11k▲
Tangible fixed assets22/27€10k€11k▲
Furniture and vehicles24€1k€391▼
Other tangible fixed assets26€8k€10k▲
Current assets29/58€35k€36k▲
Amounts receivable within one year40/41€3k€3k▼
Trade receivables40-€363
Other amounts receivable41€3k€2k▼
Cash at bank and in hand54/58€31k€32k▲
Deferred charges and accrued income490/1€1k€1k▼
Equity and liabilities
Total equity and liabilities10/49€45k€46k▲
Equity10/15€21k€21k=
Contributions10/11€2k€2k=
Reserves13€19k€19k=
Distributable reserves133€19k€19k=
Amounts payable17/49€24k€26k▲
Amounts payable within one year42/48€24k€26k▲
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€455€455=
Taxes450/3€455€455=
Other amounts payable47/48€21k€23k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€3k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€-842
Other operating charges640/8€984€2k▲
Gross operating margin9900€17k€9k▼
Operating profit (loss)9901€11k€5k▼
Financial income75/76B€125€65▼
Recurring financial income75€125€65▼
Financial charges65/66B€113€101▼
Recurring financial charges65€113€101▼
Profit (loss) for the period before taxes9903€11k€5k▼
Income taxes67/77€4k€2k▼
Profit (loss) for the period9904€7k€3k▼
Profit (loss) for the period to be appropriated9905€7k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€7k€3k▼
Profit to be distributed694/7€7k€3k▼
Return on contributions (dividend)694€7k€3k▼
The notes to these accounts (5 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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €3k ▼55.9%
Net result drops to €3k, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2020net €83k ▲153%
Operating result €105k, net result €83k, both a record.
31-12
Financial
Equity above €100kEq €118k ▲239%
2 profitable years in a row build equity to €118k.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Laakdal · 1 establishment unit since 2019
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.
Geelsebaan 462430 LaakdalGround area
1,479 m²
Building footprint
173 m²
Volume, LiDAR
978 m³
Parcel 13045C0296/00D002, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ULTIMA THULE
since 20192.294.097.807
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13045C0296/00D002 | Flanders | 1,479 m² | 1 · 173 m² | 10.1 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.
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Of 163 companies in sector 46852 we hold annual accounts for 95. 27 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-08-2019
Fiscal year end31-12
Activities, NACEBEL
46852Wholesale trade
64200Holdings
64210Activities of holding companies
70200Business and other management consultancy
70220Business consulting
74201Photography, excluding press photography
74209Other photographic activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 6 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.