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Azalea Vision

Active
Technologiepark-Zwijnaarde 122 ·9052 Gent, Belgium
KBO/BCE: BE 0753.715.734
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Age5 yrs
Board8
Staff (FTE)5.4
Real estate1 parcel · 3,594 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Azalea Vision is 1.3% (low). The 2024 annual accounts show negative equity (€-2.54M) and a net result of €-1.62M. Its solvency ranks better than 5% of 106 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 2 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
1.3% Low
0%0,5%1,5%4%10%≥25%
Young company +Annual accounts: weaker financial profile +Lower-failure-rate sector −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

1 signal · with evidence
Negative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide
Deadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 13 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-08-2025, 8 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.
How we compute the deadline
The year end is derived from 4 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 08-08-2025 8 d late 2025-00377166
31-12-2023 31-07-2024 23-10-2024 84 d late 2024-00514854
31-12-2022 31-07-2023 02-08-2023 2 d late 2023-00311043
31-12-2021 31-07-2022 31-08-2022 31 d late 2022-20411857

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
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.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-1.62M+51.0%
Working capital€-1.71M

Annual accounts & ratios

Source: NBB · 2024
Annual accounts filed on 08-08-2025 with the NBB · fiscal year 2024 · verkort
€-4.00M€-3.00M€-2.00M€-1.00M€0Operating result 2023: €-3.33M€-3.33MNet result 2023: €-3.31M€-3.31MOperating result 2024: €-1.79M€-1.79MNet result 2024: €-1.62M€-1.62M20232024
Operating resultNet result
Sector comparison
Fiscal year 2024 · NACE 74 · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency -186.4% 45.9%
better than 5% of 106 sector peers
Net result €-1.62M €9k
better than 5% of 106 sector peers
Equity €-2.54M €76k
better than 5% of 106 sector peers
Gross operating margin €71k €75k
better than 49% of 107 sector peers
Staff costs €604k €176k
higher than 75% of 50 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€-535k
-10601.3% 23-24
Net profit
€-1.62M
+51.0% 23-24
Cash flow
€-361k
- 23-24
Total assets
€1.36M
-13.9% 23-24
Equity
€-2.54M
-175.0% 23-24
Working capital
€-1.71M
- 23-24
Employees (FTE)
5
-6.9% 23-24
Staff costs
€604k
-6.1% 23-24
Income taxes
€-179k
-403.1% 23-24
Debt
€3.91M
+55.7% 23-24
Debt ≤ 1y
€2.95M
+618.7% 23-24
Debt > 1y
€0
-100.0% 23-24
Current ratio
0.42
-87.9% 23-24
Quick ratio
0.42
-87.9% 23-24
Solvency
-186.4%
-219.5% 23-24
Debt / equity
-1.54
+43.4% 23-24
ROE
63.6%
-82.2% 23-24
ROA
-118.6%
+43.1% 23-24
Interest coverage
-144.66
-22715.5% 23-24
Figures by fiscal year
Fiscal year2024
Depositverkort
Revenue-
EBITDA€-535k
Net profit€-1.62M
Cash flow€-361k
Staff costs€604k
Income taxes€-179k
Dividends-
Total assets€1.36M
Equity€-2.54M
Debt€3.91M
of which ≤ 1y€2.95M
of which > 1y€0
Working capital€-1.71M
Employees (FTE)5.4
Ratios (computed)
2024
Current ratio0.42
Quick ratio0.42
Working capital ratio-125.6%
Solvency-186.4%
Debt / equity-1.54
Long-term debt ratio0.00
Interest coverage-144.66
Gross margin-
Net margin-
ROA-118.6%
ROE63.6%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€1.36M
Fixed assets 21/28€113k
Formation expenses 20€19k
Intangible fixed assets 21€57k
Tangible fixed assets 22/27€19k
Financial fixed assets 28€37k
Current assets 29/58€1.23M
Amounts receivable within one year 40/41€124k
Cash & bank 54/58€876k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€1.36M
Equity 10/15€-2.54M
Contributions / capital 10/11€7.80M
Accumulated profits (losses) 14€-10.34M
Amounts payable 17/49€3.91M
Amounts payable after one year 17€0
Amounts payable within one year 42/48€2.95M
Trade debts payable within one year 44€372k
Income statement
Gross operating margin 9900€71k
Operating result 9901€-1.79M
Financial income 75€17
Financial charges 65€4k
Result before taxes 9903€-1.80M
Income taxes 67/77€-179k
Net result for the period 9904€-1.62M
Result to be appropriated 9905€-1.62M
You're seeing the latest fiscal year only. Unlock 1 prior year (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2024 · computed
15 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

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

Directors

Directors & mandates

8 directors
Current directors & mandates
  • Enrique Vega & PartnersLegal entity
    Director (executive)· perm. rep.: Enrique Vega
    State Gazette act 25120561 (24-09-2025)
    Current
    24-09-2025 → present
  • Robert Dempsey
    Director
    State Gazette act 25087443 (10-07-2025)
    Current
    01-04-2025 → present
  • Alexandre LOISEAU
    Director
    State Gazette act 25316068 (04-03-2025)
    Current
    04-03-2025 → present
  • Andrés Felipe VASQUEZ QUINTERO
    Director
    State Gazette act 25316068 (04-03-2025)
    Current
    04-03-2025 → present
  • FPCI PSL INNOVATION FUNDLegal entity
    Director· perm. rep.: Clément VANDEN DRIESSCHE
    State Gazette act 25316068 (04-03-2025)
    Current
    04-03-2025 → present
  • IMEC.XPANDLegal entity
    Director· perm. rep.: Frank BULENS
    State Gazette act 25316068 (04-03-2025)
    Current
    04-03-2025 → present
  • SENSINNOVATLegal entity
    Director· perm. rep.: Rudi DE WINTER
    State Gazette act 25316068 (04-03-2025)
    Current
    04-03-2025 → present
  • Sung-Ya KAO
    Director
    State Gazette act 25316068 (04-03-2025)
    Current
    04-03-2025 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary Overige activiteiten van vrije beroepen en andere wetenschappelijke en technische activiteiten, neg(74999)
Legal form Private limited company(610)
Incorporation04-09-2020
StatusActive
Postal code9052

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank
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.

Technologiepark-Zwijnaarde 1229052 Gent

Establishment units

1 location
Azalea Vision
Technologiepark-Zwijnaarde 122, 9052 GentVervaardiging van instrumenten voor de oogheelkunde
since 20202.307.771.837
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area3,594 m²
Buildings1
Building footprint1,214 m²

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
44082B0100/00H000 Flanders 3,594 m² 1 · 1,214 m² -
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

4 acts
Capital history · 1
04-03-2025
Capital change
All acts · 4 updated 10 months ago
2025
24-09-2025 5 directors appointed Director changes
  • Enrique Vega, Directeur
  • Olivier Van Raemdonck, Dagelijks bestuur
  • Charles Groffils, Dagelijks bestuur
  • Lotte Wuyts, Dagelijks bestuur
  • CRESCO ADVOCATEN BV, Dagelijks bestuur
10-07-2025 4 directors appointed Director changes
  • Robert Dempsey, Bestuurder
  • Elske Bleeker, Gedelegeerd bestuurder
  • Charles Groffils, Gedelegeerd bestuurder
  • CRESCO ADVOCATEN BV, Gedelegeerd bestuurder
04-03-2025 Capital increase of €5,149,970 Capital & shares·Tim CARNEWAL
  • Inbreng in geld · Apport en numéraire
  • 3 kapitaalbewegingen in deze akte
Notary: Tim CARNEWAL · BrusselFirm: BERQUIN NOTARISSEN
2024
06-08-2024 Bert Kegels appointed as statutory auditor Director changes
  • Bert Kegels, Commissaris

Analysis

Snowflake analysis

financial profile on 5 axes
Health15Profitability100Solvency33Growth58Stability94
60 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 15
Profitability 100
Solvency 33
Growth 58
Stability 94

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 724 of the 4,558 companies in this sector. 59 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Vervaardiging van medische en tandheelkundige instrumenten en benodigdheden32500Vervaardiging van medische en tandheelkundige instrumenten en benodigdheden32500Overige gespecialiseerde wetenschappelijke en technische activiteiten74909Overige activiteiten van vrije beroepen en andere wetenschappelijke en technische activiteiten, neg74999Vervaardiging van medische en tandheelkundige instrumenten en benodigdheden32500Vervaardiging van medische en tandheelkundige instrumenten en benodigdheden32500Overige dienstverlenende activiteiten op het gebied van informatie63920Overige dienstverlenende activiteiten op het gebied van informatie, n.e. g.63990Overig speur- en ontwikkelingswerk op natuurwetenschappelijk gebied72109Overig speur- en ontwikkelingswerk op natuurwetenschappelijk gebied72190
Primary activity highlighted.
Names & trade names
Legal nameNL Azalea Vision
Registered office
Technologiepark-Zwijnaarde 122
9052 Gent, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.