QSM
ActiveSummary
QSM has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €322k and a net result of €343k. Equity is shrinking by ~56% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 32% of 909 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability86▲+61
Solvency38▲+38
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity tight (current ratio 1.08 against 0.19 in 2023; short-term debt: 43.6% and cash: 11.6% of total assets), and 86.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sector 93
lower
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-08-2025, 18 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
not confirmed
2024
18 d late
2023
28 d late
2022
31 d late
2021
2 d early
2020
9 d early
2019
36 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€322k
2023 · €-821k
2018: €123k
2019: €271k
2020: €82k
2021: €-418k
2022: €-533k
2023: €-821k
2018 → 2024
Total assets
€2.42M▲ 42.1%
2023 · €1.71M
2018: €2.52M
2019: €2.65M
2020: €2.20M
2021: €1.83M
2022: €1.60M
2023: €1.71M
2018 → 2024
Net result
€343k
2023 · €-288k
2018: €-24k
2019: €149k
2020: €-190k
2021: €-502k
2022: €-114k
2023: €-288k
2018 → 2024
Working capital
€80k
2023 · €-961k
2018: €-327k
2019: €-241k
2020: €-229k
2021: €-737k
2022: €-692k
2023: €-961k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€82k-€-418k€-533k▼ 27.4%€-821k▼ 54.1%€322k
Operating result€-171k-€-469k▼ 174%€-56k▲ 88.1%€-198k▼ 254%€449k
Net result€-190k-€-502k▼ 165%€-114k▲ 77.2%€-288k▼ 152%€343k
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 2024: €449k after a loss of €198k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.42M
Fixed assets
€1.29M ▼ 13.0%
Current assets
€1.14M ▲ 400%
Equity and liabilities €2.42M
Equity
€322k
Provisions
€50k
Debt
€2.05M
Debt finances 84.6% of the balance-sheet total.
Key figures and ratios
EBITDA
€885k▲
2023 · €278k
Cash flow
€779k▲
2023 · €187k
Current ratio
1.08▲
2023 · 0.19
Debt to equity
6.37▲
2023 · -2.99
ROE
106.5%
ROA
14.2%▲
2023 · -16.9%
Interest coverage
8.11▲
2023 · 3.01
Debt ≤ 1 year
€1.06M▼
2023 · €1.19M
Debt > 1 year
€932k▼
2023 · €1.23M
Income taxes
€1k▲
2023 · €690
Staff costs
€685k▲
2023 · €608k
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 · 64 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.71M€2.42M▲
Fixed assets21/28€1.48M€1.29M▼
Intangible fixed assets21€14k€8k▼
Tangible fixed assets22/27€1.45M€1.26M▼
Land and buildings22€451k€341k▼
Plant, machinery and equipment23€382k€453k▲
Furniture and vehicles24€2k€5k▲
Leasing and similar rights25€344k€265k▼
Other tangible fixed assets26€267k€197k▼
Financial fixed assets28€18k€18k=
Current assets29/58€227k€1.14M▲
Amounts receivable within one year40/41€113k€344k▲
Trade receivables40€89k€270k▲
Other amounts receivable41€24k€74k▲
Current investments50/53-€500k
Cash at bank and in hand54/58€105k€281k▲
Deferred charges and accrued income490/1€9k€12k▲
Equity and liabilities
Total equity and liabilities10/49€1.71M€2.42M▲
Equity10/15€-821k€322k▲
Contributions10/11€50k€850k▲
Reserves13€23k€23k=
Tax-exempt reserves132€0-
Distributable reserves133€23k€23k=
Profit (loss) carried forward14€-894k€-551k▲
Provisions and deferred taxes16€75k€50k▼
Provisions for liabilities and charges160/5€75k€50k▼
Environmental obligations163-€50k
Other liabilities and charges164/5€75k-
Deferred taxes168€0-
Amounts payable17/49€2.45M€2.05M▼
Amounts payable after more than one year17€1.23M€932k▼
Financial debts170/4€1.23M€932k▼
Amounts payable within one year42/48€1.19M€1.06M▼
Current portion of amounts payable after more than one year42€537k€584k▲
Financial debts43€58€0▼
Credit institutions430/8€58€0▼
Trade debts44€492k€394k▼
Suppliers440/4€492k€394k▼
Taxes, remuneration and social security45€149k€73k▼
Taxes450/3€37k€6k▼
Remuneration and social security454/9€112k€68k▼
Other amounts payable47/48€11k€6k▼
Accrued charges and deferred income492/3€33k€63k▲
Income statement
Code20232024
Remuneration, social security and pensions62€608k€685k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€476k€436k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€75k€-25k▼
Other operating charges640/8€22k€105k▲
Non-recurring operating charges66A€311k€0▼
Gross operating margin9900€1.29M€1.65M▲
Operating profit (loss)9901€-198k€449k▲
Financial income75/76B€418€5k▲
Recurring financial income75€418€5k▲
Financial charges65/66B€92k€109k▲
Recurring financial charges65€92k€109k▲
Profit (loss) for the period before taxes9903€-290k€345k▲
Transfer from deferred taxes780€2k€0▼
Income taxes67/77€690€1k▲
Profit (loss) for the period9904€-288k€343k▲
Transfer from tax-exempt reserves789€7k€0▼
Profit (loss) for the period to be appropriated9905€-282k€343k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-894k€-551k▲
Profit (loss) brought forward from the previous period14P€-613k€-894k▼
Transfer from equity791/2€0-
Social balance
Average headcount (FTE)908715.215.3▲
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
14-08
State Gazette act
Resignation: REBANO BV (non-statutory director)Appointment: Mooze Holding BV (non-statutory director) · Permanent representative: Rob Simons · Director discharge5 facts ▸
State Gazette act
Resignation: REBANO BV (non-statutory director)
Appointment: Mooze Holding BV (non-statutory director) · Permanent representative: Rob Simons · Director discharge5 facts ▸
- General meeting, 13/07/2026
- Director resignation, REBANO BV (non-statutory director)
- Director discharge, REBANO BV (non-statutory director)
- Director appointment, Mooze Holding BV (non-statutory director)
- Permanent representative, Rob Simons
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
31-12
Financial
Back to profitnet €343k
Net result €343k after 4 loss-making years.
31-12
Financial
Liquidity times 6current ratio 1.08
Current ratio from 0.19 to 1.08; short-term debt falls from €1.19M to €1.06M.
31-12
Financial
Equity above €200kEq €322k
Equity rises from €-821k to €322k.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-502k
Net result drops to €-502k, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €149k
Net result €149k after one loss-making year.
Show earlier events
31-12
Financial
Equity above €200kEq €271k ▲121%
Equity rises from €123k to €271k.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 42 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 60 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
Mooze Holding
CurrentNon-statutory director · since 01-07-2026 · Private limited company · perm. rep.: Rob Simons
01-07-2026
Mooze Holding: Appointed as Non-statutory director
30-06-2026
REBANO BV: Resigned as Non-statutory director
Location & real-estate footprint
Registered office, Houthalen-Helchteren · 6 establishment units since 2010
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.
Grote Baan 2053530 Houthalen-HelchterenGround area
4.4 ha
Building footprint
9,768 m²
Volume, LiDAR
85,177 m³
6 parcels, Brussels, Flanders · tallest building 29.2 m, ±8 floors. Linked by address, not a title deed.
6 establishment units
QSM / Mooze Lifestyle Gym
since 20102.189.015.232
QSM / Mooze Lifestyle Gym
since 20102.236.995.885
QSM / Mooze Lifestyle Gym
since 20152.245.034.613
QSM / Mooze Lifestyle Gym
since 20192.300.693.213
QSM / Mooze Lifestyle Gym
since 20222.335.026.164
QSM / Mooze Lifestyle Gym
since 20262.382.500.835
6 parcels
Flanders
5
(83.3%)
Brussels
1
(16.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13434F2058/00B000 | Flanders | 2.0 ha | 1 · 3,073 m² | - |
| 71326F0260/00E000 | Flanders | 1.0 ha | - | - |
| 46302D0730/00N003 | Flanders | 4,504 m² | 1 · 2,560 m² | 15.2 m · 2 fl. |
| 71353F0065/00V003 | Flanders | 3,453 m² | 1 · 2,606 m² | 29.2 m · 8 fl. |
| 72015B0307/00T000 | Flanders | 3,413 m² | 1 · 733 m² | 7.3 m · 1 fl. |
| 21612C0001/00B055 | Brussels | 2,498 m² | 1 · 796 m² | 21.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 5
6 of 6 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
4 connected companiesLinked via shared directors
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Public money · subsidies and aid
Flemish government
2024 to 2025 · 3 entries · 8,925 EUR awarded · 1,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 7,425 EUR | 0 EUR |
| 2024 | 2 | 1,500 EUR | 1,500 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Premie kwalificerend werkplekleren
Stagebonus (stopgezet)
Recognitions · licences · registrations
Dual-learning approval
1 live approval · 1 endedFitnessbegeleider duaal (so)
Show 1 ended approval
Sportbegeleider (so)
Similar companies · same sector, comparable size
Fox Squad
BE 0699.543.808
Lennik · Eq €319,420
B&B
BE 0628.903.656
Liège · Eq €319,148
BROOKLYN GYM
BE 0688.839.263
Herk-de-Stad · Eq €316,443
SENSE OF VITALITY
BE 0885.649.293
Ronse · Eq €313,392
FACE NORD
BE 0455.526.351
Mons · Eq €333,430
Of 1,518 companies in sector 93130 we hold annual accounts for 687. 419 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
Founded09-06-2010
Fiscal year end31-12
Activities, NACEBEL 2025
93130Fitness centres
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
56112Limited-service restaurants, excluding mobile food services
86995Nutrition and dietetics services
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.