M&A PROJECTS
ActiveM&A PROJECTS has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-20k) and a net result of €-6k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 17% of 18040 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
34
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▲+12
Solvency7▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.79 against 0.81 in 2024; short-term debt: 117.4% and cash: 10.8% of total assets), and equity is negative.
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 · 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 47
Relative position
BE, all sectors
reference
Sector 47
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
-17.8%
Return on assets
-5.3%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-20k
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
54 d early
2023
32 d early
2022
6 d early
2021
34 d early
2020
31 d early
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, micro schema
Equity
€-20k▼ 42.2%
2024 · €-14k
2018: €56k
2019: €5k
2020: €13k
2021: €19k
2022: €13k
2023: €6k
2024: €-14k
2018 → 2025
Total assets
€112k▼ 1.8%
2024 · €114k
2018: €184k
2019: €77k
2020: €171k
2021: €187k
2022: €177k
2023: €138k
2024: €114k
2018 → 2025
Net result
€-6k▲ 69.8%
2024 · €-20k
2018: €5k
2019: €-51k
2020: €8k
2021: €6k
2022: €-5k
2023: €-8k
2024: €-20k
2018 → 2025
Working capital
€-27k▼ 11.7%
2024 · €-24k
2018: €14k
2019: €5k
2020: €8k
2021: €14k
2022: €11k
2023: €-1k
2024: €-24k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€19k-€13k▼ 28.0%€6k▼ 58.5%€-14k€-20k▼ 42.2%
Operating result€569-€-12k€-12k▲ 0.8%€-19k▼ 58.6%€-5k▲ 74.7%
Net result€6k-€-5k€-8k▼ 50.4%€-20k▼ 150%€-6k▲ 69.8%
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 €5k in 2025 against €19k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €112k
Fixed assets
€8k▼ 28.0%
Current assets
€105k▲ 0.8%
Key figures and ratios
EBITDA
€-2k▲
2024 · €-16k
Cash flow
€-3k▲
2024 · €-17k
Solvency
-17.8%▼
2024 · -12.3%
Current ratio
0.79▼
2024 · 0.81
Quick ratio
0.19▼
2024 · 0.23
Debt / equity
-6.61▲
2024 · -9.13
ROA
-5.3%▲
2024 · -17.2%
Interest coverage
-0.39▲
2024 · -2.75
Debt
€132k▲
2024 · €128k
Debt ≤ 1 year
€132k▲
2024 · €128k
Income taxes
€435▲
2024 · €323
Staff costs
€39k▼
2024 · €48k
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€114k€112k▼
Fixed assets21/28€10k€8k▼
Tangible fixed assets22/27€10k€8k▼
Plant, machinery and equipment23€4k€3k▼
Furniture and vehicles24€6k€5k▼
Current assets29/58€104k€105k▲
Stocks and contracts in progress3€74k€80k▲
Stocks30/36€74k€80k▲
Amounts receivable within one year40/41€12k€8k▼
Trade receivables40€12k€5k▼
Other amounts receivable41€0€2k▲
Cash at bank and in hand54/58€14k€12k▼
Deferred charges and accrued income490/1€3k€5k▲
Equity and liabilities
Total equity and liabilities10/49€114k€112k▼
Equity10/15€-14k€-20k▼
Contributions10/11€31k€31k=
Reserves13€8k€8k=
Distributable reserves133€8k€8k=
Profit (loss) carried forward14€-53k€-59k▼
Amounts payable17/49€128k€132k▲
Amounts payable within one year42/48€128k€132k▲
Financial debts43-€10k
Credit institutions430/8-€10k
Trade debts44€10k€13k▲
Suppliers440/4€10k€13k▲
Taxes, remuneration and social security45€10k€4k▼
Taxes450/3€5k€1k▼
Remuneration and social security454/9€5k€3k▼
Other amounts payable47/48€107k€104k▼
Accrued charges and deferred income492/3€294€484▲
Income statement
Code20242025
Non-recurring operating income76A€0€181▲
Remuneration, social security and pensions62€48k€39k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Other operating charges640/8€5k€6k▲
Non-recurring operating charges66A-€1k
Gross operating margin9900€38k€44k▲
Operating profit (loss)9901€-19k€-5k▲
Financial income75/76B€5k€4k▼
Recurring financial income75€5k€4k▼
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Profit (loss) for the period before taxes9903€-19k€-5k▲
Income taxes67/77€323€435▲
Profit (loss) for the period9904€-20k€-6k▲
Profit (loss) for the period to be appropriated9905€-20k€-6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-53k€-59k▼
Profit (loss) brought forward from the previous period14P€-33k€-53k▼
The notes to these accounts (4 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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet €-51k ▼1100%
Net result drops to €-51k, the lowest in the series; recovery starts the following year.
05-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 36 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 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, Geraardsbergen · 1 establishment unit since 1982
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.
Lessensestraat 119500 GeraardsbergenGround area
618 m²
Building footprint
618 m²
Volume, LiDAR
4,703 m³
2 parcels, Flanders · tallest building 15.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
s.Oliver Halle
since 19822.020.111.112
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41018A0616/00S000 | Flanders | 391 m² | 1 · 391 m² | 15.1 m · 2 fl. |
| 23027G0068/00E000 | Flanders | 226 m² | 1 · 226 m² | 12.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Similar companies · same sector, comparable size
RAVZA
BE 0874.752.928
Gent · Eq €6k
VANHOL
BE 0889.843.554
Menen · Eq €6k
NEW WORLD FASHION
BE 0765.337.027
La Louvière · Eq €6k
B2Destock
BE 0805.734.260
Charleroi · Eq €6k
BALR BELGIUM
BE 0731.715.441
Maasmechelen · Eq €6k
Of 6,501 companies in sector 47716 we hold annual accounts for 2,440. 971 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-01-1982
Fiscal year end31-12
Activities, NACEBEL
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47711Retail sale of women's outerwear
47712Retail trade
47713Retail trade
47714Retail trade
47715Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 43 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.