Active BE 0560.791.345Public limited company

ATELIER RELIEF

Kasterlindenstraat 128 ·1082 Sint-Agatha-Berchem, Belgium· 12 yrs active

Sector: Other business support services (82990)

Conclusion Checked

ATELIER RELIEF has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-306k) and a net result of €-29k. Equity is shrinking by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 3177 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€-306k
Net result	€-29k
Better than sector	5%
Active	12 yrs

Financial profile 5 of 5 axes measured · computed by Checked

37 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0

Profitability 16

Solvency 33

Growth 38

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

1.1% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2014, 12 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 Flags0 events

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 FY 2024 · computed

0 / 100 Critical

050100

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

25 2022

5 2023

0 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.18 (< 1.0) -10

Quick ratio Quick ratio 0.18 (< 0.6) -5

Equity Negative equity -25

Profitability ROE 10% +3

EBITDA margin Negatieve EBITDA-marge -10

Interest coverage Interest coverage -16.9× (< 1.5×) -10

Profit trend Net profit down YoY -3

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview9 NBB filings

Annual accounts filed on 30-09-2025 with the NBB · fiscal year 2024 · micro schema

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~10.5%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

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 82, Office administrative, office support and other business support activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-417.5%	53.8%	better than 5% of 3177 sector peers
Net result	€-29k	€18k	better than 5% of 3176 sector peers
Equity	€-306k	€40k	better than 5% of 3179 sector peers
Gross operating margin	€-6k	€36k	better than 7% of 3176 sector peers
Total assets	€73k	€94k	better than 42% of 3182 sector peers

Revenue

€7k

+51.9% 22-24

EBITDA

€-12k

+1.4% 22-24

Net profit

€-29k

-3.1% 22-24

Cash flow

€-13k

+0.5% 22-24

Total assets

€73k

-22.6% 22-24

Equity

€-306k

-10.6% 22-24

Working capital

€-24k

-434.6% 22-24

Income taxes

€343

+37.9% 22-24

Debt

€379k

+2.2% 22-24

Debt ≤ 1y

€29k

+37.4% 22-24

Debt > 1y

€350k

0.0% 22-24

Current ratio

0.18

-76.8% 22-24

Quick ratio

0.18

-62.7% 22-24

Solvency

-417.5%

-43.0% 22-24

Debt / equity

-1.24

+7.7% 22-24

ROE

9.6%

-6.8% 22-24

ROA

-40.2%

-33.2% 22-24

Net margin

-402.8%

+32.1% 22-24

EBITDA margin

-169.4%

+35.1% 22-24

Interest coverage

-16.87

+2.2% 22-24

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2024	2023	2022
Deposit	micro schema	micro schema	micro schema
Revenue	€7k	€5k	€50k
EBITDA	€-12k	€-13k	€-15k
Net profit	€-29k	€-29k	€-30k
Cash flow	€-13k	€-14k	€-15k
Staff costs	-	-	-
Income taxes	€343	€249	€244
Dividends	-	-	-
Total assets	€73k	€95k	€134k
Equity	€-306k	€-277k	€-248k
Debt	€379k	€371k	€382k
of which ≤ 1y	€29k	€21k	€32k
of which > 1y	€350k	€350k	€350k
Working capital	€-24k	€-4k	€9k
Employees (FTE)	-	-	-

Ratios (computed)

	2024	2023	2022
Current ratio	0.18	0.79	1.28
Quick ratio	0.18	0.49	1.08
Working capital ratio	-32.7%	-4.7%	6.8%
Solvency	-417.5%	-292.0%	-185.6%
Debt / equity	-1.24	-1.34	-1.54
Long-term debt ratio	-1.14	-1.27	-1.41
Interest coverage	-16.87	-17.25	-16.04
Gross margin	-123.4%	-262.8%	-31.6%
Net margin	-402.8%	-593.5%	-61.3%
ROA	-40.2%	-30.1%	-22.8%
ROE	9.6%	10.3%	12.3%
EBITDA margin	-169.4%	-260.9%	-30.7%
Days sales outstanding	0d	128d	47d
Days payable outstanding	29d	0d	0d
Inventory turnover	-	2.74	10.27
Days inventory (DSI)	0d	133d	36d

Balance-sheet composition 2024

Assets

Fixed assets €68k · 92.6% Current assets €5k · 7.4%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€73k	€95k	€134k
Fixed assets	21/28	€68k	€78k	€93k
Intangible fixed assets	21	€63k	€78k	€92k
Tangible fixed assets	22/27	€5k	€325	€650
Current assets	29/58	€5k	€17k	€41k
Stocks & contracts in progress	3	€0	€6k	€6k
Amounts receivable within one year	40/41	€1k	€8k	€24k
Cash & bank	54/58	€859	€254	€11k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€73k	€95k	€134k
Equity	10/15	€-306k	€-277k	€-248k
Contributions / capital	10/11	€100k	€100k	€100k
Accumulated profits (losses)	14	€-406k	€-377k	€-348k
Amounts payable	17/49	€379k	€371k	€382k
Amounts payable after one year	17	€350k	€350k	€350k
Amounts payable within one year	42/48	€29k	€21k	€32k
Trade debts payable within one year	44	€1k	€0	€0
Income statement
Turnover	70	€7k	€5k	€50k
Gross operating margin	9900	€-6k	€-10k	€-13k
Operating result	9901	€-28k	€-28k	€-30k
Financial income	75	-	-	€1k
Financial charges	65	€734	€728	€950
Result before taxes	9903	€-29k	€-28k	€-30k
Income taxes	67/77	€343	€249	€244
Net result for the period	9904	€-29k	€-29k	€-30k
Result to be appropriated	9905	€-29k	€-29k	€-30k

Legal Structure

NACE primary	Other business support services(82990)
Legal form	Public limited company(014)
Incorporation	28-08-2014
Status	Active
Postal code	1082

Establishment units 1 location

Vilain XIIII-straat 20, 1050 Elsene

Printing and reproduction of recorded media

since 20142.233.876.049

Real-estate footprint Source: CBE × cadastre

Brussels 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21342B0008/00V002	Brussels	249 m²	1 · 114 m²	10.9 m · 2 fl.
21444B0061/00D002 ProtectedMonumentArt-nouveauhuisSource ↗	Brussels	160 m²	1 · 84 m²	16.5 m · 5 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Updates 9 events

All 9Filings 9

2025

30-09