Checked.be
Active
BE 0809.024.936Private limited company
ZUIDERVAART
Kerkstraat 72 ·2060 Antwerpen, Belgium· 17 yrs active
Sector: Other support activities for arts and performing arts
(90399)
Conclusion
ZUIDERVAART has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-3k) and a net result of €-723. Equity is shrinking by ~59.5% per year across the filed fiscal years. Its solvency ranks better than 16% of 2465 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €-3k |
| Net result | €-723 |
| Better than sector | 16% |
| Active | 17 yrs |
Financial profile
48
/ 100
Mixed profile: strong on stability, weaker on growth.
All 5 axes are computed from data Checked has read.
Health
35
Profitability
42
Solvency
42
Growth
22
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2009, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
35
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
82
2020
88
2021
30
2022
2
2023
35
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.90 (< 1.0)
-10
Equity
Negative equity
-25
Profitability
ROE 29% (≥ 10%)
+10
EBITDA margin
EBITDA-marge 1%
+2
Interest coverage
Interest coverage 2.2×
+3
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-04-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~38% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 90, Arts creation and performing arts activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -5.7% | 49.1% | |
| Net result | €-723 | €6k | |
| Equity | €-3k | €45k | |
| Gross operating margin | €2k | €24k | |
| Total assets | €44k | €111k |
€112k
-61.4%
20-24
€854
-
20-24
€-723
+95.1%
20-24
€467
-
20-24
€44k
-0.2%
20-24
€-3k
-40.6%
20-24
€-4k
+1.5%
20-24
€5k
+20411.5%
20-24
€47k
+1.4%
20-24
€47k
+1.4%
20-24
€344
-92.2%
20-24
0.90
+0.3%
20-24
0.90
+0.3%
20-24
-5.7%
-40.8%
20-24
-18.70
+27.9%
20-24
28.9%
-96.5%
20-24
-1.6%
+95.1%
20-24
-0.6%
+87.3%
20-24
0.8%
-
20-24
2.20
-
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | €112k | €291k | €90k | €117k | €266k |
| EBITDA | €854 | €-4k | €-4k | €7k | €12k |
| Net profit | €-723 | €-15k | €-9k | €1k | €8k |
| Cash flow | €467 | €-9k | €-4k | €6k | €14k |
| Staff costs | - | - | - | - | - |
| Income taxes | - | €5k | €26 | €590 | €2k |
| Dividends | - | - | - | - | - |
| Total assets | €44k | €44k | €33k | €43k | €73k |
| Equity | €-3k | €-2k | €13k | €22k | €21k |
| Debt | €47k | €46k | €20k | €21k | €52k |
| of which ≤ 1y | €47k | €46k | €20k | €20k | €48k |
| of which > 1y | - | - | - | €344 | €4k |
| Working capital | €-4k | €-5k | €5k | €13k | €11k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 0.90 | 0.90 | 1.23 | 1.65 | 1.24 |
| Quick ratio | 0.90 | 0.90 | 1.23 | 1.65 | 1.24 |
| Working capital ratio | -10.1% | -10.3% | 14.1% | 30.7% | 15.5% |
| Solvency | -5.7% | -4.0% | 39.4% | 52.0% | 29.0% |
| Debt / equity | -18.70 | -25.93 | 1.54 | 0.92 | 0.21 |
| Long-term debt ratio | - | - | - | 0.02 | 0.21 |
| Interest coverage | 2.20 | -10.24 | -14.59 | 19.72 | - |
| Gross margin | 0.9% | 2.4% | -7.0% | -3.8% | - |
| Net margin | -0.6% | -5.1% | -10.5% | 1.0% | 3.2% |
| ROA | -1.6% | -33.1% | -28.7% | 2.7% | 11.6% |
| ROE | 28.9% | 825.9% | -72.9% | 5.1% | 40.0% |
| EBITDA margin | 0.8% | -1.2% | -4.4% | 5.6% | 4.5% |
| Days sales outstanding | 72d | 33d | 65d | 33d | 31d |
| Days payable outstanding | 91d | 39d | 28d | 35d | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €44k | €44k | €33k | €43k | €73k |
| Fixed assets | 21/28 | €2k | €3k | €8k | €10k | €14k |
| Tangible fixed assets | 22/27 | €2k | €3k | €8k | €10k | €14k |
| Current assets | 29/58 | €42k | €42k | €24k | €33k | €59k |
| Amounts receivable within one year | 40/41 | €22k | €40k | €17k | €16k | €23k |
| Cash & bank | 54/58 | €19k | €2k | €7k | €17k | €36k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €44k | €44k | €33k | €43k | €73k |
| Equity | 10/15 | €-3k | €-2k | €13k | €22k | €21k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Reserves | 13 | €311 | €311 | €312 | €311 | €311 |
| Accumulated profits (losses) | 14 | €-15k | €-14k | €209 | €10k | €8k |
| Amounts payable | 17/49 | €47k | €46k | €20k | €21k | €52k |
| Amounts payable after one year | 17 | - | - | - | €344 | €4k |
| Amounts payable within one year | 42/48 | €47k | €46k | €20k | €20k | €48k |
| Trade debts payable within one year | 44 | €28k | €31k | €7k | €12k | €29k |
| Income statement | ||||||
| Turnover | 70 | €112k | €291k | €90k | €117k | €266k |
| Gross operating margin | 9900 | €2k | €7k | €-3k | €9k | €13k |
| Operating result | 9901 | €-336 | €-9k | €-9k | €2k | €7k |
| Financial income | 75 | €1 | €16 | €1 | €246 | €39 |
| Financial charges | 65 | €388 | €342 | €273 | €333 | €601 |
| Result before taxes | 9903 | €-723 | €-9k | €-9k | €2k | €6k |
| Income taxes | 67/77 | - | €5k | €26 | €590 | €2k |
| Net result for the period | 9904 | €-723 | €-15k | €-9k | €1k | €4k |
| Result to be appropriated | 9905 | €-723 | €-15k | €-9k | €1k | €4k |
Legal Structure
| NACE primary | Other support activities for arts and performing arts(90399) |
| Legal form | Private limited company(610) |
| Incorporation | 12-01-2009 |
| Status | Active |
| Postal code | 2060 |
Establishment units
REALISATIESTUDIO ZUIDERVAART
since 20092.175.665.854
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11805E0790/00F000 | Flanders | 597 m² | 1 · 325 m² | 16.0 m · 4 fl. |
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.
Updates
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
30-09
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
26-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
2021
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 40 days late
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 18 days late
2016
21-04
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Arts creation and performing arts activities90029Other support activities for arts and performing arts90399Activities of interior architects71112
Names & trade names
| Legal nameNL | ZUIDERVAART |
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