KAYAK
ActiveKAYAK has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €56k and a net result of €-41k. Equity is shrinking by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 28% of 7931 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
34
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency47▼-21
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days only on tighter terms
Liquidity tight (current ratio 1.22 against 1.71 in 2024; short-term debt: 77.8% and cash: 2.2% of total assets), and 77.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
22.2%
Return on assets
-16.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-41k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
31 d early
2023
30 d early
2022
18 d early
2021
18 d late
2020
26 d late
2019
91 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
17-09-2026 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
€-41k▲ 1.5%
2024 · €-42k
2018: €-35k
2019: €-22k
2020: €8k
2021: €21k
2022: €-33k
2023: €-33k
2024: €-42k
2018 → 2025
Working capital
€43k▼ 53.2%
2024 · €92k
2018: €163k
2019: €149k
2020: €169k
2021: €185k
2022: €148k
2023: €116k
2024: €92k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€206k-€173k▼ 16.0%€139k▼ 19.4%€98k▼ 29.9%€56k▼ 42.1%
Operating result€23k-€-28k€-29k▼ 4.5%€-37k▼ 27.4%€-33k▲ 11.0%
Net result€21k-€-33k€-33k▼ 1.3%€-42k▼ 24.7%€-41k▲ 1.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €33k in 2025 against €37k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €254k
Fixed assets
€13k▲ 161%
Current assets
€241k▲ 7.7%
Equity and liabilities €254k
Equity
€56k▼ 42.1%
Debt
€197k▲ 50.6%
The debt ratio rises from 57.3% to 77.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-30k▲
2024 · €-36k
Cash flow
€-38k▲
2024 · €-41k
Solvency
22.2%▼
2024 · 42.7%
Current ratio
1.22▼
2024 · 1.71
Quick ratio
0.10▼
2024 · 0.37
Debt / equity
3.50▲
2024 · 1.34
ROE
-72.7%▼
2024 · -42.7%
ROA
-16.2%▲
2024 · -18.2%
Interest coverage
-3.76▲
2024 · -7.78
Debt
€197k▲
2024 · €131k
Debt ≤ 1 year
€197k▲
2024 · €131k
Staff costs
€65k▼
2024 · €86k
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€229k€254k▲
Fixed assets21/28€5k€13k▲
Tangible fixed assets22/27€4k€12k▲
Furniture and vehicles24€798€9k▲
Other tangible fixed assets26€3k€3k▼
Financial fixed assets28€777€777=
Current assets29/58€224k€241k▲
Stocks and contracts in progress3€175k€221k▲
Stocks30/36€175k€221k▲
Amounts receivable within one year40/41€35k€14k▼
Trade receivables40€35k€14k▼
Cash at bank and in hand54/58€14k€5k▼
Equity and liabilities
Total equity and liabilities10/49€229k€254k▲
Equity10/15€98k€56k▼
Contributions10/11€25k€25k=
Reserves13€72k€31k▼
Tax-exempt reserves132€23k€23k=
Distributable reserves133€49k€8k▼
Amounts payable17/49€131k€197k▲
Amounts payable within one year42/48€131k€197k▲
Current portion of amounts payable after more than one year42€5k-
Financial debts43€19k€28k▲
Credit institutions430/8€19k€28k▲
Trade debts44€33k€97k▲
Suppliers440/4€33k€97k▲
Taxes, remuneration and social security45€22k€17k▼
Taxes450/3€19k€13k▼
Remuneration and social security454/9€3k€4k▲
Other amounts payable47/48€52k€55k▲
Income statement
Code20242025
Non-recurring operating income76A€88-
Remuneration, social security and pensions62€86k€65k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€515€3k▲
Other operating charges640/8€2k€4k▲
Non-recurring operating charges66A€9k€3k▼
Gross operating margin9900€61k€42k▼
Operating profit (loss)9901€-37k€-33k▲
Financial charges65/66B€5k€8k▲
Recurring financial charges65€5k€8k▲
Non-recurring financial charges66B-€133
Profit (loss) for the period before taxes9903€-42k€-41k▲
Profit (loss) for the period9904€-42k€-41k▲
Profit (loss) for the period to be appropriated9905€-42k€-41k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-42k€-41k▲
Transfer from equity791/2€42k€41k▼
The notes to these accounts (10 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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-42k
Net result drops to €-42k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 18 days late
2021
31-12
Financial
Highest result since 2018net €21k ▲167%
Operating result €23k, net result €21k, both a record.
31-12
Financial
Equity above €200kEq €206k ▲11.2%
2 profitable years in a row build equity to €206k.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Back to profitnet €8k
Net result €8k after 2 loss-making years.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Courcelles · 3 establishment units since 1995
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.
Avenue de Wallonie(CO) 1186180 CourcellesGround area
3.1 ha
Building footprint
1.1 ha
Volume, LiDAR
47,399 m³
4 parcels, Wallonia · tallest building 15.1 m, ±2 floors. Linked by address, not a title deed.
3 establishment units
TOWER
since 19952.142.925.285
TOWER
since 19962.038.159.842
TOWER
since 20162.252.324.756
4 parcels
Wallonia
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55022A0356/00Y003 | Wallonia | 2.2 ha | 1 · 6,334 m² | 15.1 m · 2 fl. |
| 52502C0323/00F002 | Wallonia | 6,697 m² | 1 · 4,441 m² | - |
| 52302A1138/00X000 | Wallonia | 1,734 m² | - | - |
| 52322A0147/00P006 | Wallonia | 1,444 m² | 1 · 201 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 3
4 of 4 parcels 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
ALEXIA MODA
BE 0502.860.668
Anderlecht · Eq €56k
COPACABANA
BE 0433.320.774
Anderlecht · Eq €57k
TALYNA LYN
BE 0860.572.122
Deinze · Eq €56k
Debaes - Claeys
BE 0417.231.444
Maldegem · Eq €57k
MO.T.T.
BE 0800.940.381
Ardooie · Eq €55k
Of 1,313 companies in sector 46423 we hold annual accounts for 813. 534 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-05-1988
Fiscal year end31-12
Activities, NACEBEL
46423Wholesale of clothing, excluding workwear and underwear
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
51421
52421
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.