Start2Finish
ActiveSummary
Start2Finish has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €52k and a net result of €-12k. Equity is growing by ~20.4% per year across the filed fiscal years. Its solvency ranks better than 56% of 27786 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
54
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability4▼-43
Solvency78▲+3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity tight (current ratio 1.05 against 1.6 in 2024; short-term debt: 16.3% and cash: 11.2% of total assets), and 47.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
52.6%
Return on assets
-11.6%
Age of the figures
9 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 07-07-2026, 24 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
24 d early
2024
17 d early
2023
338 d late
2022
30 d late
2021
29 d late
2020
25 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€52k▼ 9.4%
2024 · €58k
2018: €6k
2019: €17k
2020: €28k
2021: €39k
2022: €46k
2023: €62k
2024: €58k
2018 → 2025
Total assets
€100k▼ 14.3%
2024 · €116k
2018: €105k
2019: €131k
2020: €117k
2021: €147k
2022: €107k
2023: €128k
2024: €116k
2018 → 2025
Net result
€-12k
2024 · €2k
2018: €194
2019: €11k
2020: €11k
2021: €11k
2022: €7k
2023: €4k
2024: €2k
2018 → 2025
Working capital
€883▼ 93.5%
2024 · €14k
2018: €-18k
2019: €-2k
2020: €3k
2021: €16k
2022: €10k
2023: €23k
2024: €14k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€39k-€46k▲ 16.6%€62k▲ 35.0%€58k▼ 6.5%€52k▼ 9.4%
Operating result€16k-€10k▼ 36.6%€7k▼ 35.1%€4k▼ 33.8%€-10k
Net result€11k-€7k▼ 40.8%€4k▼ 44.5%€2k▼ 41.8%€-12k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €10k after €4k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €100k
Fixed assets
€83k ▲ 3.1%
Current assets
€17k ▼ 52.8%
Equity and liabilities €100k
Equity
€52k ▼ 9.4%
Debt
€47k ▼ 19.1%
Debt's share of the balance-sheet total falls from 50.3% to 47.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-9k▼
2024 · €5k
Cash flow
€-11k▼
2024 · €3k
Current ratio
1.05▼
2024 · 1.60
Debt to equity
0.90▼
2024 · 1.01
ROE
-22.1%▼
2024 · 3.7%
ROA
-11.6%▼
2024 · 1.8%
Interest coverage
-6.49▼
2024 · 3.08
Debt ≤ 1 year
€16k▼
2024 · €23k
Debt > 1 year
€31k▼
2024 · €36k
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 · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€116k€100k▼
Fixed assets21/28€80k€83k▲
Tangible fixed assets22/27€80k€83k▲
Land and buildings22€78k€78k=
Plant, machinery and equipment23€967€568▼
Furniture and vehicles24€2k€5k▲
Current assets29/58€36k€17k▼
Amounts receivable within one year40/41€31k€5k▼
Trade receivables40€31k€616▼
Other amounts receivable41€337€4k▲
Cash at bank and in hand54/58-€11k
Deferred charges and accrued income490/1€5k€1k▼
Equity and liabilities
Total equity and liabilities10/49€116k€100k▼
Equity10/15€58k€52k▼
Contributions10/11€19k€19k=
Reserves13€194€194=
Distributable reserves133€194€194=
Profit (loss) carried forward14€39k€34k▼
Amounts payable17/49€58k€47k▼
Amounts payable after more than one year17€36k€31k▼
Financial debts170/4€36k€31k▼
Amounts payable within one year42/48€23k€16k▼
Current portion of amounts payable after more than one year42€5k€5k▲
Financial debts43€543-
Credit institutions430/8€543-
Trade debts44€3k€990▼
Suppliers440/4€3k€990▼
Taxes, remuneration and social security45€591€591=
Taxes450/3€591€591=
Other amounts payable47/48€14k€10k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€896€950▲
Other operating charges640/8€650€1k▲
Gross operating margin9900€6k€-8k▼
Operating profit (loss)9901€4k€-10k▼
Financial income75/76B€27-
Recurring financial income75€27-
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€3k€-12k▼
Income taxes67/77€591-
Profit (loss) for the period9904€2k€-12k▼
Profit (loss) for the period to be appropriated9905€2k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€39k€34k▼
Profit (loss) brought forward from the previous period14P€37k€45k▲
The notes to these accounts (9 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
19-08
State Gazette act
Appointment: BARAK (director)Permanent representative: Rik Minten · Resignation: Joris Wellens (director) · Registered-office move5 facts ▸
State Gazette act
Appointment: BARAK (director)
Permanent representative: Rik Minten · Resignation: Joris Wellens (director) · Registered-office move5 facts ▸
- General meeting, 14-08-2026
- Registered-office move, Nieuwe Bornestraat 43 bus C, 3012 Leuven
- Director appointment, BARAK (director)
- Permanent representative, Rik Minten
- Director resignation, Joris Wellens (director)
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-12k ▼648%
Net result drops to €-12k, the lowest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 338 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-12
Financial
Highest result since 2018net €11k ▲5603%
Net result €11k, the highest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
BARAK
CurrentDirector · since 26-06-2026 · Private limited company · perm. rep.: Rik Minten
26-06-2026
BARAK: Appointed as Director
26-06-2026
Joris Wellens: Resigned as Director
Location & real-estate footprint
Registered office, Leuven · 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.
Nieuwe Bornestraat 433012 LeuvenGround area
92 m²
Parcel 24126C0189/00R003, Flanders. Linked by address, not a title deed.
1 establishment unit
Start2Finish
since 20172.263.429.969
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24126C0189/00R003 | Flanders | 92 m² | - | - |
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
Similar companies · same sector, comparable size
C.C.T.
BE 0795.258.458
Sint-Pieters-Leeuw · Eq €52,415
IMMOPTIMIZE
BE 1004.679.478
Brussel · Eq €52,373
Perfekt Home
BE 0896.684.133
Ukkel · Eq €52,348
D&V Ingenieurs
BE 0742.712.073
Wingene · Eq €52,338
NUH
BE 0550.464.706
Gent · Eq €52,309
Of 7,293 companies in sector 43350 we hold annual accounts for 2,363. 2,005 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
Founded07-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.