PUBLI LETTRAL
ActivePUBLI LETTRAL has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €535k and a net result of €50k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 66% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+4
Solvency83▲+11
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 2.25 against 1.84 in 2024; short-term debt: 33.7% and cash: 6.8% of total assets), and 42.4% 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○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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Sector 32
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
57.6%
Return on assets
5.4%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €535k
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
31 d early
2023
19 d early
2022
57 d late
2021
39 d late
2020
37 d late
2019
31 d early
← 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€535k▲ 10.3%
2024 · €485k
2018: €541k
2019: €628k
2020: €530k
2021: €420k
2022: €447k
2023: €460k
2024: €485k
2018 → 2025
Total assets
€930k▼ 10.3%
2024 · €1.04M
2018: €723k
2019: €824k
2020: €849k
2021: €903k
2022: €970k
2023: €1.20M
2024: €1.04M
2018 → 2025
Net result
€50k▲ 97.6%
2024 · €25k
2018: €-64k
2019: €87k
2020: €-784
2021: €-110k
2022: €27k
2023: €95k
2024: €25k
2018 → 2025
Working capital
€392k▲ 10.1%
2024 · €356k
2018: €377k
2019: €459k
2020: €425k
2021: €284k
2022: €310k
2023: €334k
2024: €356k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€420k-€447k▲ 6.5%€460k▲ 2.8%€485k▲ 5.5%€535k▲ 10.3%
Operating result€-103k-€41k€129k▲ 215%€66k▼ 48.7%€93k▲ 39.6%
Net result€-110k-€27k€95k▲ 249%€25k▼ 73.3%€50k▲ 97.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 40% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €930k
Fixed assets
€224k▼ 12.9%
Current assets
€705k▼ 9.4%
Equity and liabilities €930k
Equity
€535k▲ 10.3%
Provisions
€10k▼ 13.7%
Debt
€384k▼ 28.7%
The debt ratio falls from 52.0% to 41.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€172k▲
2024 · €147k
Cash flow
€129k▲
2024 · €106k
Solvency
57.6%▲
2024 · 46.8%
Current ratio
2.25▲
2024 · 1.84
Quick ratio
1.74▲
2024 · 1.39
Debt / equity
0.72▼
2024 · 1.11
ROE
9.3%▲
2024 · 5.2%
ROA
5.4%▲
2024 · 2.4%
Interest coverage
6.93▲
2024 · 5.93
Debt
€384k▼
2024 · €539k
Debt ≤ 1 year
€313k▼
2024 · €422k
Debt > 1 year
€62k▼
2024 · €116k
Income taxes
€27k▲
2024 · €22k
Staff costs
€809k▲
2024 · €774k
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€1.04M€930k▼
Fixed assets21/28€258k€224k▼
Intangible fixed assets21€4k€2k▼
Tangible fixed assets22/27€253k€223k▼
Plant, machinery and equipment23€110k€92k▼
Furniture and vehicles24€88k€53k▼
Other tangible fixed assets26€55k€77k▲
Financial fixed assets28€25€125▲
Current assets29/58€778k€705k▼
Amounts receivable after more than one year29€12k€10k▼
Trade receivables290€12k€10k▼
Stocks and contracts in progress3€190k€160k▼
Stocks30/36€190k€160k▼
Amounts receivable within one year40/41€369k€402k▲
Trade receivables40€332k€359k▲
Other amounts receivable41€37k€43k▲
Current investments50/53€101k€61k▼
Cash at bank and in hand54/58€91k€63k▼
Deferred charges and accrued income490/1€15k€9k▼
Equity and liabilities
Total equity and liabilities10/49€1.04M€930k▼
Equity10/15€485k€535k▲
Contributions10/11€21k€21k=
Reserves13€510k€514k▲
Tax-exempt reserves132€53k€53k=
Distributable reserves133€456k€461k▲
Profit (loss) carried forward14€-45k€0▲
Provisions and deferred taxes16€12k€10k▼
Provisions for liabilities and charges160/5€12k€10k▼
Other liabilities and charges164/5€12k€10k▼
Amounts payable17/49€539k€384k▼
Amounts payable after more than one year17€116k€62k▼
Financial debts170/4€116k€62k▼
Amounts payable within one year42/48€422k€313k▼
Current portion of amounts payable after more than one year42€175k€114k▼
Trade debts44€153k€88k▼
Suppliers440/4€153k€88k▼
Taxes, remuneration and social security45€95k€82k▼
Taxes450/3€28k€22k▼
Remuneration and social security454/9€66k€60k▼
Other amounts payable47/48-€29k
Accrued charges and deferred income492/3-€9k
Income statement
Code20242025
Non-recurring operating income76A€6k€0▼
Remuneration, social security and pensions62€774k€809k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€81k€79k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€660€0▼
Other operating charges640/8€4k€5k▲
Non-recurring operating charges66A€3k€779▼
Gross operating margin9900€928k€986k▲
Operating profit (loss)9901€66k€93k▲
Financial income75/76B€6k€9k▲
Recurring financial income75€6k€9k▲
Financial charges65/66B€25k€25k▼
Recurring financial charges65€25k€25k▼
Profit (loss) for the period before taxes9903€47k€77k▲
Income taxes67/77€22k€27k▲
Profit (loss) for the period9904€25k€50k▲
Profit (loss) for the period to be appropriated9905€25k€50k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-45k€5k▲
Profit (loss) brought forward from the previous period14P€-71k€-45k▲
Transfer to equity691/2-€5k
To other reserves6921-€5k
Social balance
Average headcount (FTE)908711.713.1▲
The notes to these accounts (19 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 · abbreviated schema · 31 days late
2025
31-12
Financial
Equity above €500kEq €535k ▲10.3%
4 profitable years in a row build equity to €535k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €95k ▲249%
Operating result €129k, net result €95k, both a record.
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 57 days late
2022
31-12
Financial
Back to profitnet €27k
Net result €27k after 2 loss-making years.
08-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 39 days late
2021
31-12
Financial
Weakest financial yearnet €-110k
Net result drops to €-110k, the lowest in the series; recovery starts the following year.
06-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 37 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €87k
Net result €87k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 16 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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, Ardooie · 1 establishment unit since 1983
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.
Pittemsestraat 60A8850 ArdooieGround area
1.4 ha
Building footprint
3,921 m²
Volume, LiDAR
26,604 m³
2 parcels, Flanders · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Pittemsestraat 60, 8850 Ardooie
since 19832.021.482.770
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36001B1138/00W000 | Flanders | 9,759 m² | 1 · 3,151 m² | 11.0 m · 2 fl. |
| 36001C0966/00B000 | Flanders | 3,850 m² | 1 · 770 m² | 6.3 m · 1 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 3,758 EUR awarded · 5,458 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 3,063 EUR | 3,063 EUR |
| 2024 | 1 | 59 EUR | 1,759 EUR |
| 2023 | 1 | 552 EUR | 552 EUR |
| 2022 | 1 | 84 EUR | 84 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 915 companies in sector 32990 we hold annual accounts for 163. 106 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-1982
Fiscal year end31-12
Activities, NACEBEL
32990Other manufacturing not elsewhere classified
43341Painting of buildings
45441
Sources
Crossroads Bank for EnterprisesNational Bank · 43 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.