BUTTERFISH GROUP
ActiveBUTTERFISH GROUP has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €295k and a net result of €12k. Equity is growing by ~18.7% per year across the filed fiscal years. Its solvency ranks better than 44% of 218 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability21▼-51
Solvency69▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity ample (current ratio 3.12 against 2.59 in 2024; short-term debt: 30.3% and cash: 43.9% of total assets), but 55.9% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 60
Relative position
BE, all sectors
reference
Sector 60
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
44.1%
Return on assets
1.7%
Age of the figures
9 mo
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 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 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
3 d late
2024
61 d late
2023
64 d late
2022
23 d late
2021
59 d late
2020
76 d late
2019
101 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€12k▼ 33.1%
2024 · €17k
2018: €-7k
2019: €33k
2020: €46k
2021: €171k
2022: €226k
2023: €-25k
2024: €17k
2018 → 2025
Working capital
€429k▲ 0.9%
2024 · €426k
2018: €-8k
2019: €8k
2020: €178k
2021: €438k
2022: €745k
2023: €306k
2024: €426k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€238k-€424k▲ 78.0%€369k▼ 12.9%€330k▼ 10.7%€295k▼ 10.4%
Operating result€221k-€312k▲ 41.1%€-515k€31k€-101k
Net result€171k-€226k▲ 32.4%€-25k€17k€12k▼ 33.1%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €101k after €31k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €670k
Fixed assets
€37k▼ 47.7%
Current assets
€632k▼ 8.7%
Equity and liabilities €670k
Equity
€295k▼ 10.4%
Debt
€374k▼ 13.8%
The debt ratio falls from 56.9% to 55.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-53k▼
2024 · €78k
Cash flow
€60k▼
2024 · €64k
Solvency
44.1%▲
2024 · 43.1%
Current ratio
3.12▲
2024 · 2.59
Quick ratio
3.12▲
2024 · 2.59
Debt / equity
1.27▼
2024 · 1.32
ROE
3.9%▼
2024 · 5.3%
ROA
1.7%▼
2024 · 2.3%
Interest coverage
-5.31▼
2024 · 9.19
Debt
€374k▼
2024 · €435k
Debt ≤ 1 year
€203k▼
2024 · €267k
Income taxes
€9k▲
2024 · €8k
Staff costs
€67k▲
2024 · €63k
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€764k€670k▼
Fixed assets21/28€71k€37k▼
Intangible fixed assets21€3k€2k▼
Tangible fixed assets22/27€68k€28k▼
Plant, machinery and equipment23€15k€12k▼
Furniture and vehicles24€50k€13k▼
Other tangible fixed assets26€4k€3k▼
Financial fixed assets28-€7k
Current assets29/58€693k€632k▼
Amounts receivable within one year40/41€307k€280k▼
Trade receivables40€170k€160k▼
Other amounts receivable41€138k€120k▼
Current investments50/53-€7k
Cash at bank and in hand54/58€366k€294k▼
Deferred charges and accrued income490/1€19k€51k▲
Equity and liabilities
Total equity and liabilities10/49€764k€670k▼
Equity10/15€330k€295k▼
Contributions10/11€6k€6k=
Reserves13€323k€289k▼
Distributable reserves133€323k€289k▼
Profit (loss) carried forward14€179€206▲
Amounts payable17/49€435k€374k▼
Amounts payable within one year42/48€267k€203k▼
Current portion of amounts payable after more than one year42€14k-
Financial debts43-€10k
Credit institutions430/8-€10k
Trade debts44€92k€76k▼
Suppliers440/4€92k€76k▼
Taxes, remuneration and social security45€100k€62k▼
Taxes450/3€86k€47k▼
Remuneration and social security454/9€14k€15k▲
Other amounts payable47/48€61k€55k▼
Accrued charges and deferred income492/3€167k€172k▲
Income statement
Code20242025
Remuneration, social security and pensions62€63k€67k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€46k€48k▲
Other operating charges640/8€2k€5k▲
Gross operating margin9900€143k€18k▼
Operating profit (loss)9901€31k€-101k▼
Financial income75/76B€2k€132k▲
Recurring financial income75€2k€132k▲
Financial charges65/66B€8k€10k▲
Recurring financial charges65€8k€10k▲
Profit (loss) for the period before taxes9903€25k€21k▼
Income taxes67/77€8k€9k▲
Profit (loss) for the period9904€17k€12k▼
Profit (loss) for the period to be appropriated9905€17k€12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€17k€12k▼
Profit (loss) brought forward from the previous period14P€163€179▲
Transfer from equity791/2€57k€46k▼
Transfer to equity691/2€17k€12k▼
To other reserves6921€17k€12k▼
Profit to be distributed694/7€57k€46k▼
Return on contributions (dividend)694€57k€46k▼
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (11 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
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 3 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 64 days late
2023
31-12
Financial
Weakest financial yearnet €-25k ▼111%
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
31-12
Financial
Highest result since 2018net €226k ▲32.4%
Operating result €312k, net result €226k, both a record.
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
2021
31-12
Financial
Equity above €200kEq €238k ▲252%
3 profitable years in a row build equity to €238k.
15-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 76 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
08-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 69 days late
2018
08-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 69 days late
2017
14-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 45 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Waterloo · 1 establishment unit 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.
Chaussée de Bruxelles 14A1410 WaterlooGround area
388 m²
Building footprint
544 m²
Volume, LiDAR
3,407 m³
Parcel 25762H0860/00C000, Wallonia · tallest building 11.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BUTTERFISH GROUP
since 20102.191.741.625
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25762H0860/00C000 | Wallonia | 388 m² | 1 · 544 m² | 11.7 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.
Recognitions · licences · registrations
Legal Entity Identifier
984500B2BFEC6DUDTE17
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Of 150 companies in sector 60200 we hold annual accounts for 62. 42 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-07-2010
Fiscal year end31-12
Activities, NACEBEL
60100Programming, broadcasting, news agency and other content distribution activities
60200Programming, broadcasting, news agency and other content distribution activities
59112Motion picture, video and television programme production, sound recording and music publishing activities
74209Other photographic activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.