EU REVIEW
ActiveEU REVIEW has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €38k and a net result of €-9k. Equity is shrinking by ~13.7% per year across the filed fiscal years. Its solvency ranks better than 92% of 675 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
70
/ 100
Healthy▲ +10 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency100=
Growth32=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 18.91 against 15.35 in 2024), and 4.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 58
Relative position
BE, all sectors
reference
Sector 58
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
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
95.7%
Return on assets
-23.2%
Age of the figures
8 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€9k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
29 d late
2023
31 d late
2022
31 d late
2021
26 d late
2020
31 d late
2019
63 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€38k▼ 19.5%
2024 · €47k
2018: €111k
2019: €108k
2020: €102k
2021: €98k
2022: €96k
2023: €69k
2024: €47k
2018 → 2025
Total assets
€40k▼ 19.9%
2024 · €50k
2018: €138k
2019: €120k
2020: €108k
2021: €110k
2022: €98k
2023: €90k
2024: €50k
2018 → 2025
Net result
€-9k▲ 58.0%
2024 · €-22k
2018: €-4k
2019: €-3k
2020: €-6k
2021: €-4k
2022: €-2k
2023: €-26k
2024: €-22k
2018 → 2025
Working capital
€31k▼ 11.0%
2024 · €35k
2018: €131k
2019: €118k
2020: €107k
2021: €98k
2022: €96k
2023: €69k
2024: €35k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€98k-€96k▼ 2.0%€69k▼ 27.6%€47k▼ 31.7%€38k▼ 19.5%
Operating result€-7k-€-4k▲ 37.3%€-29k▼ 583%€-23k▲ 19.0%€-10k▲ 55.9%
Net result€-4k-€-2k▲ 57.1%€-26k▼ 1,282%€-22k▲ 17.0%€-9k▲ 58.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10k in 2025 against €23k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €40k
Fixed assets
€7k▼ 42.9%
Current assets
€33k▼ 12.2%
Equity and liabilities €40k
Equity
€38k▼ 19.5%
Debt
€2k▼ 28.7%
The debt ratio falls from 4.9% to 4.3%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€-5k▲
2024 · €-19k
Cash flow
€-4k▲
2024 · €-18k
Solvency
95.7%▲
2024 · 95.1%
Current ratio
18.91▲
2024 · 15.35
Quick ratio
18.91▲
2024 · 15.35
Debt / equity
0.05▼
2024 · 0.05
ROE
-24.2%▲
2024 · -46.4%
ROA
-23.2%▲
2024 · -44.2%
Debt
€2k▼
2024 · €2k
Debt ≤ 1 year
€2k▼
2024 · €2k
Income taxes
€171▼
2024 · €306
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€50k€40k▼
Fixed assets21/28€13k€7k▼
Tangible fixed assets22/27€13k€7k▼
Furniture and vehicles24€13k€7k▼
Financial fixed assets28€25€25=
Current assets29/58€37k€33k▼
Amounts receivable within one year40/41€23k€18k▼
Other amounts receivable41€23k€18k▼
Deferred charges and accrued income490/1€14k€15k▲
Equity and liabilities
Total equity and liabilities10/49€50k€40k▼
Equity10/15€47k€38k▼
Contributions10/11€11k€11k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€35k€26k▼
Amounts payable17/49€2k€2k▼
Amounts payable within one year42/48€2k€2k▼
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€174€171▼
Taxes450/3€174€171▼
Income statement
Code20242025
Non-recurring operating income76A€500-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€771€522▼
Gross operating margin9900€-19k€-4k▲
Operating profit (loss)9901€-23k€-10k▲
Financial income75/76B€1k€1k▼
Recurring financial income75€1k€1k▼
Financial charges65/66B€12-
Recurring financial charges65€12-
Profit (loss) for the period before taxes9903€-22k€-9k▲
Income taxes67/77€306€171▼
Profit (loss) for the period9904€-22k€-9k▲
Profit (loss) for the period to be appropriated9905€-22k€-9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€35k€26k▼
Profit (loss) brought forward from the previous period14P€57k€35k▼
The notes to these accounts (5 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Liquidity quadruplescurrent ratio 15.35
Current ratio from 4.30 to 15.35; short-term debt falls from €21k to €2k.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet €-26k
Net result drops to €-26k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Liquidity times 6current ratio 52.50
Current ratio from 8.99 to 52.50; short-term debt falls from €12k to €2k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Liquidity quadruplescurrent ratio 260.66
Current ratio from 65.60 to 260.66; short-term debt falls from €2k to €413.
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 65.60
Current ratio from 20.59 to 65.60; short-term debt falls from €7k to €2k.
28-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 120 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 59 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, La Hulpe · 1 establishment unit since 2012
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.
Rue de l'Argentine 741310 La HulpeGround area
240 m²
Building footprint
59 m²
Volume, LiDAR
547 m³
Parcel 25050B0405/00A002, Wallonia · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
EU REVIEW
since 20122.205.873.931
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25050B0405/00A002 | Wallonia | 240 m² | 1 · 59 m² | 11.3 m · 3 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.
Similar companies · same sector, comparable size
AUXILIUM
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HERCULES SOLUTIONS
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DA HYPE RECORD
BE 0878.056.074
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Emotions Livre
BE 1015.250.993
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at home publishers
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Of 1,107 companies in sector 58110 we hold annual accounts for 361. 235 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-11-2011
Fiscal year end31-12
Activities, NACEBEL
58110Book publishing
58120Publishing activities
58130Publishing activities
58140Publishing activities
60310News agency activities
63910Computing infrastructure, data processing, hosting and other information service activities
72101Research and development on biotechnology
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.