icode
Activeicode has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €45k. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 31% of 187 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
66
/ 100
Healthy▲ +8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency42▲+1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity short (current ratio 0.84 against 0.7 in 2024), and 71.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Sector 72
lower
← 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
28.8%
Return on assets
57.2%
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
14 d early
2023
48 d early
2022
28 d early
2021
23 d late
2020
11 d late
2019
10 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€45k▲ 30.3%
2024 · €35k
2018: €21k
2019: €28k
2020: €62k
2021: €26k
2022: €40k
2023: €48k
2024: €35k
2018 → 2025
Working capital
€-9k▲ 42.7%
2024 · €-16k
2018: €-21k
2019: €-20k
2020: €-23k
2021: €-17k
2022: €-6k
2023: €-3k
2024: €-16k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€22k-€22k▲ 0.4%€22k=€22k▲ 1.5%€23k▲ 1.7%
Operating result€38k-€60k▲ 58.8%€78k▲ 29.4%€61k▼ 22.2%€63k▲ 4.6%
Net result€26k-€40k▲ 54.4%€48k▲ 19.3%€35k▼ 27.4%€45k▲ 30.3%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €79k
Fixed assets
€32k▼ 16.5%
Current assets
€48k▲ 29.1%
Equity and liabilities €79k
Equity
€23k▲ 1.7%
Debt
€57k▲ 7.7%
The debt ratio rises from 70.0% to 71.2%: debt grows faster than equity.
Key figures and ratios
EBITDA
€73k▲
2024 · €69k
Cash flow
€55k▲
2024 · €44k
Solvency
28.8%▼
2024 · 30.0%
Current ratio
0.84▲
2024 · 0.70
Quick ratio
0.84▲
2024 · 0.70
Debt / equity
2.47▲
2024 · 2.33
ROE
198.4%▲
2024 · 154.8%
ROA
57.2%▲
2024 · 46.5%
Interest coverage
78.07▲
2024 · 57.63
Debt
€57k▲
2024 · €52k
Debt ≤ 1 year
€57k▲
2024 · €52k
Income taxes
€17k▼
2024 · €25k
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€75k€79k▲
Fixed assets21/28€38k€32k▼
Tangible fixed assets22/27€38k€32k▼
Furniture and vehicles24€16k€14k▼
Other tangible fixed assets26€22k€18k▼
Current assets29/58€37k€48k▲
Amounts receivable within one year40/41€6k€9k▲
Trade receivables40-€7k
Other amounts receivable41€6k€2k▼
Cash at bank and in hand54/58€28k€36k▲
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€75k€79k▲
Equity10/15€22k€23k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€2k€2k▲
Amounts payable17/49€52k€57k▲
Amounts payable within one year42/48€52k€57k▲
Trade debts44€192€4k▲
Suppliers440/4€192€4k▲
Taxes, remuneration and social security45€6k€2k▼
Taxes450/3€6k€2k▼
Other amounts payable47/48€46k€51k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€71k€74k▲
Operating profit (loss)9901€61k€63k▲
Financial income75/76B€536€441▼
Recurring financial income75€536€441▼
Financial charges65/66B€1k€931▼
Recurring financial charges65€1k€931▼
Profit (loss) for the period before taxes9903€60k€63k▲
Income taxes67/77€25k€17k▼
Profit (loss) for the period9904€35k€45k▲
Profit (loss) for the period to be appropriated9905€35k€45k▲
Appropriation of the result
Profit (loss) to be appropriated9906€37k€47k▲
Profit (loss) brought forward from the previous period14P€2k€2k▲
Profit to be distributed694/7€35k€45k▲
Return on contributions (dividend)694€35k€45k▲
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
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 23 days late
2021
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 11 days late
2020
31-12
Financial
Highest result since 2018net €62k ▲122%
Operating result €88k, net result €62k, both a record.
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 10 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 5 days late
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2013
06-11
State Gazette act
General meeting · Capital increase
Statutes amendment · Director resignation
Financial milestoneState Gazette actNBB 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, Walhain · 1 establishment unit since 2000
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.
Rue Saint-Martin(NSV) 281457 WalhainGround area
2,221 m²
Building footprint
351 m²
Volume, LiDAR
2,501 m³
Parcel 25071C0819/00C000, Wallonia · tallest building 13.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Saint-Martin(NSV) 28, 1457 Walhain
since 20002.093.647.505
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25071C0819/00C000 | Wallonia | 2,220 m² | 1 · 351 m² | 13.8 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.
Structure & network
Ownership & control
1 partyicodeBE 0469.114.665
controls
Where this company holds controlthis company sits on their board1
1 location
Similar companies · same sector, comparable size
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Eummena
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AtomX
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INDRA SCIENTIFIC
BE 0883.685.836
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Groupement de Recherche sur l'Environnement et d'Etude de nouvelles Technologies culturales
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Of 1,175 companies in sector 72109 we hold annual accounts for 712. 267 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-12-1999
Fiscal year end31-12
Activities, NACEBEL
72109Other research and development on natural sciences
73100
70200Business and other management consultancy
70220Business consulting
72200Scientific research and development
73200Market research and public opinion polling
74142
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.