X-SEC SERVICES
ActiveSummary
X-SEC SERVICES has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €227k and a net result of €88k. Equity is growing by ~20.7% per year across the filed fiscal years. Its solvency ranks better than 58% of 37956 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
86
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+1
Solvency91▼-9
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity ample (current ratio 2.82 against 5.81 in 2023; short-term debt: 34.5% and cash: 18% of total assets), and 34.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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 03-06-2025, 58 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
5 d late
2022
40 d early
2021
62 d early
2020
30 d late
2019
69 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€227k▼ 0.8%
2023 · €229k
2018: €73k
2019: €158k
2020: €100k
2021: €71k
2022: €162k
2023: €229k
2018 → 2024
Total assets
€346k▲ 26.1%
2023 · €274k
2018: €109k
2019: €243k
2020: €174k
2021: €155k
2022: €204k
2023: €274k
2018 → 2024
Net result
€88k▲ 31.6%
2023 · €67k
2018: €69k
2019: €72k
2020: €62k
2021: €63k
2022: €91k
2023: €67k
2018 → 2024
Working capital
€217k▼ 1.3%
2023 · €220k
2018: €72k
2019: €157k
2020: €94k
2021: €67k
2022: €158k
2023: €220k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€100k-€71k▼ 28.9%€162k▲ 127%€229k▲ 41.5%€227k▼ 0.8%
Operating result€77k-€89k▲ 14.8%€127k▲ 42.9%€94k▼ 25.9%€113k▲ 20.3%
Net result€62k-€63k▲ 1.9%€91k▲ 44.6%€67k▼ 26.5%€88k▲ 31.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 20% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €346k
Fixed assets
€10k ▲ 11.2%
Current assets
€336k ▲ 26.6%
Equity and liabilities €346k
Equity
€227k ▼ 0.8%
Debt
€119k ▲ 161%
Debt's share of the balance-sheet total rises from 16.7% to 34.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€116k▲
2023 · €96k
Cash flow
€91k▲
2023 · €69k
Current ratio
2.82▼
2023 · 5.81
Quick ratio
2.80▼
2023 · 5.77
Debt to equity
0.53▲
2023 · 0.20
ROE
38.9%▲
2023 · 29.3%
ROA
25.5%▲
2023 · 24.4%
Interest coverage
1080.40▲
2023 · 544.47
Debt ≤ 1 year
€119k▲
2023 · €46k
Income taxes
€25k▼
2023 · €27k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€274k€346k▲
Fixed assets21/28€9k€10k▲
Tangible fixed assets22/27€9k€10k▲
Plant, machinery and equipment23€4k€6k▲
Furniture and vehicles24€3k€3k▲
Other tangible fixed assets26€2k€1k▼
Current assets29/58€266k€336k▲
Amounts receivable after more than one year29€15k€15k▼
Other amounts receivable291€15k€15k▼
Stocks and contracts in progress3€2k€2k=
Stocks30/36€2k€2k=
Amounts receivable within one year40/41€19k€27k▲
Trade receivables40€18k€25k▲
Other amounts receivable41€630€2k▲
Current investments50/53€160k€220k▲
Cash at bank and in hand54/58€67k€62k▼
Deferred charges and accrued income490/1€3k€10k▲
Equity and liabilities
Total equity and liabilities10/49€274k€346k▲
Equity10/15€229k€227k▼
Contributions10/11€19k€19k=
Reserves13€210k€208k▼
Distributable reserves133€210k€208k▼
Amounts payable17/49€46k€119k▲
Amounts payable within one year42/48€46k€119k▲
Financial debts43€10k-
Credit institutions430/8€10k-
Trade debts44€6k€6k▲
Suppliers440/4€6k€6k▲
Taxes, remuneration and social security45€27k€35k▲
Taxes450/3€27k€35k▲
Other amounts payable47/48€2k€78k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€1k€1k▼
Gross operating margin9900€97k€117k▲
Operating profit (loss)9901€94k€113k▲
Financial income75/76B€525€524▼
Recurring financial income75€525€524▼
Financial charges65/66B€176€107▼
Recurring financial charges65€176€107▼
Profit (loss) for the period before taxes9903€95k€114k▲
Income taxes67/77€27k€25k▼
Profit (loss) for the period9904€67k€88k▲
Profit (loss) for the period to be appropriated9905€67k€88k▲
Appropriation of the result
Profit (loss) to be appropriated9906€67k€88k▲
Transfer from equity791/2-€2k
Transfer to equity691/2€67k-
To other reserves6921€67k-
Profit to be distributed694/7-€90k
Return on contributions (dividend)694-€90k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 days late
2023
31-12
Financial
Equity above €200kEq €229k ▲41.5%
6 profitable years in a row build equity to €229k.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €91k ▲44.6%
Operating result €127k, net result €91k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 4.75
Current ratio from 1.80 to 4.75; short-term debt falls from €84k to €42k.
31-12
Financial
Equity above €150kEq €162k ▲127%
5 profitable years in a row build equity to €162k.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €62k ▼14.5%
Net result drops to €62k, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
31-12
Financial
Equity above €150kEq €158k ▲115%
2 profitable years in a row build equity to €158k.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Gent · 1 establishment unit 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.
Heiebreestraat 199031 GentGround area
699 m²
Building footprint
93 m²
Volume, LiDAR
510 m³
Parcel 44017A0849/00E000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
X-SEC SERVICES
since 20172.270.441.980
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017A0849/00E000 | Flanders | 699 m² | 1 · 93 m² | 8.6 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 82,562 companies in sector 70200 we hold annual accounts for 52,574. 39,330 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-11-2017
Fiscal year end31-12
Activities, NACEBEL 2025
16281Manufacture of other wood products
70200Business and other management consultancy
74201Photography, excluding press photography
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:Ronny.vanreybrouck@X-sec.be