UNDER-COVER
ActiveUNDER-COVER has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.92M and a net result of €86k. Equity is growing by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 7955 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability54▲+47
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity ample (current ratio 50.64 against 42.71 in 2024; short-term debt: 2% and cash: 3.3% of total assets), and 2% 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
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
98%
Return on assets
4.4%
Age of the figures
9 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 · 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 →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 10 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
30 d late
2022
185 d late
2021
30 d late
2020
34 d late
2019
62 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.92M▲ 4.7%
2024 · €1.84M
2018: €1.49M
2019: €1.55M
2020: €1.73M
2021: €1.89M
2022: €2.08M
2023: €2.02M
2024: €1.84M
2018 → 2025
Total assets
€1.96M▲ 4.3%
2024 · €1.88M
2018: €2.67M
2019: €2.14M
2020: €1.96M
2021: €2.13M
2022: €2.10M
2023: €2.04M
2024: €1.88M
2018 → 2025
Net result
€86k
2024 · €-183k
2018: €82k
2019: €65k
2020: €158k
2021: €165k
2022: €191k
2023: €-56k
2024: €-183k
2018 → 2025
Working capital
€1.92M▲ 4.8%
2024 · €1.83M
2018: €1.73M
2019: €1.84M
2020: €1.89M
2021: €1.98M
2022: €2.08M
2023: €2.01M
2024: €1.83M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.89M-€2.08M▲ 10.1%€2.02M▼ 3.0%€1.84M▼ 9.1%€1.92M▲ 4.7%
Operating result€55k-€129k▲ 134%€32k▼ 75.5%€-100k€55k
Net result€165k-€191k▲ 15.7%€-56k€-183k▼ 228%€86k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €55k after a loss of €100k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.96M
Fixed assets
€2k▼ 51.3%
Current assets
€1.96M▲ 4.4%
Equity and liabilities €1.96M
Equity
€1.92M▲ 4.7%
Debt
€39k▼ 12.0%
The debt ratio falls from 2.3% to 2.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57k▲
2024 · €-98k
Cash flow
€88k▲
2024 · €-182k
Solvency
98.0%▲
2024 · 97.7%
Current ratio
50.64▲
2024 · 42.71
Quick ratio
49.71▲
2024 · 41.81
Debt / equity
0.02▼
2024 · 0.02
ROE
4.5%▲
2024 · -10.0%
ROA
4.4%▲
2024 · -9.8%
Interest coverage
3.59▲
2024 · -5.75
Debt
€39k▼
2024 · €44k
Debt ≤ 1 year
€39k▼
2024 · €44k
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€1.88M€1.96M▲
Fixed assets21/28€4k€2k▼
Tangible fixed assets22/27€4k€2k▼
Furniture and vehicles24€4k€2k▼
Current assets29/58€1.88M€1.96M▲
Amounts receivable after more than one year29€325k€507k▲
Other amounts receivable291€325k€507k▲
Stocks and contracts in progress3€40k€36k▼
Stocks30/36€40k€36k▼
Amounts receivable within one year40/41€811k€963k▲
Trade receivables40€804k€961k▲
Other amounts receivable41€7k€2k▼
Current investments50/53€641k€388k▼
Cash at bank and in hand54/58€59k€64k▲
Deferred charges and accrued income490/1€565€735▲
Equity and liabilities
Total equity and liabilities10/49€1.88M€1.96M▲
Equity10/15€1.84M€1.92M▲
Contributions10/11€395k€395k=
Reserves13€1.44M€1.53M▲
Distributable reserves133€1.44M€1.53M▲
Amounts payable17/49€44k€39k▼
Amounts payable within one year42/48€44k€39k▼
Trade debts44€32k€8k▼
Suppliers440/4€32k€8k▼
Taxes, remuneration and social security45€11k€8k▼
Taxes450/3€11k€8k▼
Other amounts payable47/48€853€22k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k=
Other operating charges640/8€19k€1k▼
Gross operating margin9900€-79k€59k▲
Operating profit (loss)9901€-100k€55k▲
Financial income75/76B€80k€55k▼
Recurring financial income75€80k€55k▼
Financial charges65/66B€164k€24k▼
Recurring financial charges65€17k€16k▼
Non-recurring financial charges66B€147k€8k▼
Profit (loss) for the period before taxes9903€-183k€86k▲
Profit (loss) for the period9904€-183k€86k▲
Profit (loss) for the period to be appropriated9905€-183k€86k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-183k€86k▲
Transfer from equity791/2€183k-
Transfer to equity691/2-€86k
To other reserves6921-€86k
The notes to these accounts (8 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Back to profitnet €86k
Net result €86k after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €-183k
Net result drops to €-183k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
01-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 185 days late
2022
31-12
Financial
Highest result since 2018net €191k ▲15.7%
Operating result €129k, net result €191k, both a record.
31-12
Financial
Liquidity times 8current ratio 111.14
Current ratio from 14.26 to 111.14; short-term debt falls from €150k to €19k.
31-12
Financial
Equity above €2MEq €2.08M ▲10.1%
5 profitable years in a row build equity to €2.08M.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
03-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 34 days late
2020
31-12
Financial
Liquidity quadruplescurrent ratio 27.21
Current ratio from 7.15 to 27.21; short-term debt falls from €299k to €72k.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 62 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 7.15
Current ratio from 2.84 to 7.15; short-term debt falls from €939k to €299k.
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 1 day late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Herentals · 1 establishment unit since 2005
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.
Toekomstlaan(HRT) 392200 HerentalsGround area
9,586 m²
Building footprint
822 m²
Volume, LiDAR
5,268 m³
Parcel 13302D0236/00E000, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
-
since 20052.149.985.796
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13302D0236/00E000 | Flanders | 9,586 m² | 1 · 822 m² | 10.2 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
967600AE58YVSBUQU327
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Of 268 companies in sector 46474 we hold annual accounts for 181. 91 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-10-2005
Fiscal year end31-12
Activities, NACEBEL
46474Wholesale trade
27402Manufacture of electrical equipment
47552Retail sale of lighting equipment
47592Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:0497/503511