INVULNERABLE
ActiveINVULNERABLE has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €327k and a net result of €26k. Equity is growing by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 65% of 1887 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
86
/ 100
Excellent▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability40▼-8
Solvency99▲+1
Growth52=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.4 against 2.17 in 2024), and 39.2% 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 · 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← 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
60.8%
Return on assets
4.9%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
9 d late
2022
on the day
2021
25 d late
2020
6 d late
2018
82 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close16-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€327k▲ 8.8%
2024 · €301k
2018: €259k
2020: €168k
2021: €217k
2022: €249k
2023: €272k
2024: €301k
2018 → 2025
Total assets
€538k▲ 7.1%
2024 · €502k
2018: €449k
2020: €616k
2021: €565k
2022: €462k
2023: €473k
2024: €502k
2018 → 2025
Net result
€26k▼ 8.5%
2024 · €29k
2018: €41k
2020: €44k
2021: €49k
2022: €32k
2023: €23k
2024: €29k
2018 → 2025
Working capital
€283k▲ 24.7%
2024 · €227k
2018: €258k
2020: €166k
2021: €190k
2022: €232k
2023: €228k
2024: €227k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€217k-€249k▲ 14.6%€272k▲ 9.2%€301k▲ 10.6%€327k▲ 8.8%
Operating result€75k-€53k▼ 29.8%€33k▼ 37.0%€48k▲ 45.4%€40k▼ 17.7%
Net result€49k-€32k▼ 35.5%€23k▼ 28.0%€29k▲ 26.2%€26k▼ 8.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 18% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €538k
Fixed assets
€52k▼ 35.8%
Current assets
€486k▲ 15.3%
Equity and liabilities €538k
Equity
€327k▲ 8.8%
Debt
€211k▲ 4.6%
The debt ratio falls from 40.1% to 39.2%: equity grows faster than debt.
Key figures and ratios
EBITDA
€69k▼
2024 · €70k
Cash flow
€55k▲
2024 · €50k
Solvency
60.8%▲
2024 · 59.9%
Current ratio
2.40▲
2024 · 2.17
Quick ratio
2.14▲
2024 · 2.00
Debt / equity
0.64▼
2024 · 0.67
ROE
8.1%▼
2024 · 9.6%
ROA
4.9%▼
2024 · 5.8%
Interest coverage
11.20▼
2024 · 11.50
Debt
€211k▲
2024 · €201k
Debt ≤ 1 year
€202k▲
2024 · €194k
Income taxes
€8k▼
2024 · €15k
Staff costs
€280k▲
2024 · €171k
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€502k€538k▲
Fixed assets21/28€81k€52k▼
Tangible fixed assets22/27€81k€52k▼
Plant, machinery and equipment23€0-
Furniture and vehicles24€81k€52k▼
Current assets29/58€421k€486k▲
Stocks and contracts in progress3€34k€51k▲
Stocks30/36€34k€51k▲
Amounts receivable within one year40/41€159k€179k▲
Trade receivables40€137k€155k▲
Other amounts receivable41€22k€24k▲
Current investments50/53-€100k
Cash at bank and in hand54/58€220k€146k▼
Deferred charges and accrued income490/1€8k€9k▲
Equity and liabilities
Total equity and liabilities10/49€502k€538k▲
Equity10/15€301k€327k▲
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Reserves13€178k€178k=
Non-distributable reserves130/1€24k€24k=
Legal reserve130€24k€24k=
Distributable reserves133€154k€154k=
Profit (loss) carried forward14€23k€49k▲
Amounts payable17/49€201k€211k▲
Amounts payable within one year42/48€194k€202k▲
Trade debts44€36k€21k▼
Suppliers440/4€36k€21k▼
Taxes, remuneration and social security45€8k€27k▲
Remuneration and social security454/9€8k€27k▲
Other amounts payable47/48€150k€154k▲
Accrued charges and deferred income492/3€7k€8k▲
Income statement
Code20242025
Remuneration, social security and pensions62€171k€280k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€29k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€657€0▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€243k€350k▲
Operating profit (loss)9901€48k€40k▼
Financial income75/76B€2k€541▼
Recurring financial income75€2k€541▼
Financial charges65/66B€6k€6k▲
Recurring financial charges65€6k€6k▲
Profit (loss) for the period before taxes9903€44k€34k▼
Income taxes67/77€15k€8k▼
Profit (loss) for the period9904€29k€26k▼
Profit (loss) for the period to be appropriated9905€29k€26k▼
Appropriation of the result
Profit (loss) to be appropriated9906€52k€49k▼
Profit (loss) brought forward from the previous period14P€23k€23k=
Transfer to equity691/2€29k-
To other reserves6921€29k-
The notes to these accounts (3 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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
09-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
31-03
Financial
Weakest financial yearnet €23k ▼28%
Net result drops to €23k, the lowest in the series; recovery starts the following year.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
31-03
Financial
Highest result since 2018net €49k ▲11.4%
Operating result €75k, net result €49k, both a record.
31-03
Financial
Equity above €200kEq €217k ▲29.4%
3 profitable years in a row build equity to €217k.
2020
06-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 6 days late
2019
10-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
09-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
8 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, Colfontaine · 1 establishment unit since 1989
Ground area
8,189 m²
Building footprint
5,692 m²
Volume, LiDAR
36,439 m³
2 parcels, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
A.B.E.
since 19892.044.754.060
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51024A0486/00K002 | Wallonia | 7,746 m² | 1 · 5,542 m² | 8.6 m · 2 fl. |
| 53064B1064/00B005indicative | Wallonia | 443 m² | 1 · 150 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,964 companies in sector 25110 we hold annual accounts for 2,132. 1,626 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded31-08-1989
Fiscal year end31-03
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
25120Manufacture of fabricated metal products, except machinery and equipment
28110
28120
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.