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Checked processes every Belgian company, act by act, from the Belgian Official Gazette. The data below is real and verified, this company's full, act-by-act verified dossier is still being assembled.
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Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of RADIONOMY is 1.4% (low). The 2023 annual accounts show negative equity (€-15.37M) and a net result of €-770k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 111 sector peers (fiscal year 2023). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 6 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone1.4%
Low
0%0,5%1,5%4%10%≥25%
Annual accounts: weaker financial profile
+Higher-failure-rate region
+Long track record
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2023: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Trust signals
2 signalsEstablished
Founded in 2007, 18 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
Turnover€2.60M-23.6%
EBIT margin21.5%-42.8pp
Net result€-770k
Working capital€4.61M+9.8%
Annual accounts & ratios
Source: NBB · 2023Annual accounts filed on 28-02-2025 with the NBB · fiscal year 2023 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~4.7%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2023 · NACE 73, Advertising & market research · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -134.1% | 32.6% | |
| Net result | €-770k | €30k | |
| Equity | €-15.37M | €112k | |
| Staff costs | €1.59M | €256k | |
| Employees (FTE) | 11.6 | 4.3 |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P5
Stable position over 2020-2023
· n=51-111
P5
Weakening position over 2020-2023
· n=51-113
P5
Stable position over 2020-2023
· n=51-111
P87
Stable position over 2021-2023
· n=33-50
Describes the position versus peers, not a forecast.
€2.60M
-23.6%
18-23
€1.39M
-52.6%
far above sector median
€-770k
-
far below sector median
€57k
-97.8%
far above sector median
€11.46M
+10.4%
far above sector median
€-15.37M
-5.3%
far below sector median
€4.61M
+9.8%
far above sector median
12
-14.7%
18-23
€1.59M
-4.1%
18-23
€-2k
-
far below sector median
€26.79M
+7.2%
far above sector median
€1.55M
+70.0%
far above sector median
€25.22M
+4.8%
18-23
3.98
-29.1%
+228% vs sector
3.98
-29.1%
far above sector median
-134.1%
+4.6%
far below sector median
-1.74
-1.9%
far below sector median
5.0%
-
far above sector median
-6.7%
-
+47% vs sector
-29.6%
-
18-23
53.4%
-38.0%
18-23
1.05
-97.2%
-91% vs sector
Figures by fiscal year
| Fiscal year | 2023 |
|---|---|
| Revenue | €2.60M |
| EBITDA | €1.39M |
| Net profit | €-770k |
| Cash flow | €57k |
| Staff costs | €1.59M |
| Income taxes | - |
| Dividends | - |
| Total assets | €11.46M |
| Equity | €-15.37M |
| Debt | €26.79M |
| of which ≤ 1y | €1.55M |
| of which > 1y | €25.22M |
| Working capital | €4.61M |
| Employees (FTE) | 11.6 |
Ratios (computed)
| 2023 | |
|---|---|
| Current ratio | 3.98 |
| Quick ratio | 3.98 |
| Working capital ratio | 40.2% |
| Solvency | -134.1% |
| Debt / equity | -1.74 |
| Long-term debt ratio | -1.64 |
| Interest coverage | 1.05 |
| Gross margin | - |
| Net margin | -29.6% |
| ROA | -6.7% |
| ROE | 5.0% |
| EBITDA margin | 53.4% |
| Days sales outstanding | 833d |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €11.46M |
| Fixed assets | 21/28 | €5.30M |
| Intangible fixed assets | 21 | €1.68M |
| Tangible fixed assets | 22/27 | €1k |
| Financial fixed assets | 28 | €3.62M |
| Current assets | 29/58 | €6.16M |
| Amounts receivable within one year | 40/41 | €6.14M |
| Cash & bank | 54/58 | €9k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €11.46M |
| Equity | 10/15 | €-15.37M |
| Contributions / capital | 10/11 | €3.22M |
| Accumulated profits (losses) | 14 | €-18.58M |
| Provisions & deferred taxes | 16 | €36k |
| Amounts payable | 17/49 | €26.79M |
| Amounts payable after one year | 17 | €25.22M |
| Amounts payable within one year | 42/48 | €1.55M |
| Trade debts payable within one year | 44 | €610k |
| Income statement | ||
| Turnover | 70 | €2.60M |
| Operating result | 9901 | €560k |
| Financial income | 75 | €10k |
| Financial charges | 65 | €1.34M |
| Result before taxes | 9903 | €-770k |
| Net result for the period | 9904 | €-770k |
| Result to be appropriated | 9905 | €-770k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2023 · computed38
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.
Directors
Directors & mandates
9 directorsCurrent directors & mandates
-
Radionomy Group B.V.Legal entityDirector· perm. rep.: Umut AkpinarState Gazette act 23001364 (04-01-2023)Current18-05-2017 → present
2 events
- 23-12-2022 Appointed· Director
- 18-05-2017 Appointed· Director
Historic, not recently confirmed (3)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
Winamp GroupLegal entityDirector· perm. rep.: Alexandre SaboundjianState Gazette act 17127882 (07-09-2017)Not recently confirmedlast confirmed in an act from 2017
-
Not recently confirmedlast confirmed in an act from 2015
-
OTC Asset ManagementLegal entityDirector· perm. rep.: Henri GagnaireState Gazette act 13164689 (30-10-2013)Not recently confirmedlast confirmed in an act from 2013
2 events
- 04-10-2013 Mandate renewed· Director
- 19-03-2012 Appointed· Director
Former directors (5)
-
Former20-04-2015 → 23-12-2022
4 events
- 23-12-2022 Resigned· Director
- 25-09-2020 Mandate renewed· Director
- 07-05-2020 Appointed· Director
- 20-04-2015 Mandate renewed· Director
-
AudioValleyLegal entityDirector· perm. rep.: Alexandre SABOUNDJIANState Gazette act 20320951 (07-05-2020)Former- → 07-05-2020
-
Former16-12-2015 → 18-05-2017
2 events
- 18-05-2017 Resigned· Director
- 16-12-2015 Appointed· Director
-
Former- → 16-12-2015
-
Former20-04-2015 → 16-12-2015
2 events
- 16-12-2015 Resigned· Director
- 20-04-2015 Mandate renewed· Director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
3 auditors| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| EY Réviseurs d'Entreprise SRLCurrent Statutory auditor · represented by Eric Van Hoof |
- | 05-09-2022 → present |
| Ernst & Young Réviseurs d'Entreprises scorl Statutory auditor · represented by Eric Van Hoof succeeded by SCRL Enst & Young Réviseurs d'Entreprises in 2020 |
- | 15-02-2017 → 25-09-2020 |
| SCRL Enst & Young Réviseurs d'Entreprises Statutory auditor · represented by Eric Van Hoof succeeded by EY Réviseurs d'Entreprise SRL in 2022 |
- | 25-09-2020 → 05-09-2022 |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten van reclamebureaus(73110) |
| Legal form | Public limited company(014) |
| Incorporation | 25-09-2007 |
| Status | Active |
| Postal code | 1160 |
Structure & network
Connections & network
9 connected companiesGroup structure
Parent · 1 subsidiary · 1 location
Control→
Network connections
Shared address
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Shared address
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Shared address
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Shared address
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Shared address
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Shared address
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Shared address
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Shared address
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Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Registered office
on the map · from the address register
seat.Municipality
exact location from the address register
Establishment units
1 locationRADIONOMY
since 20072.220.446.202
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area6.1 ha
Buildings2
Building footprint3,215 m²
Volume (LiDAR)41,365 m³
Tallest building30.4 m · ±9 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21306D0093/00K000 | Brussels | 5.7 ha | 1 · 2,064 m² | 12.8 m · 2 fl. |
| 21332B0081/00H002 | Brussels | 3,929 m² | 1 · 1,150 m² | 30.4 m · 9 fl. |
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.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
15 acts Capital history · 2
22-01-2026
v3.2
07-03-2012
v3.2
Address history · 1
29-03-2023
v3.2
All acts · 15
updated 6 months ago
2026
22-01-2026 Capital increase of €23,178,460 to €26,394,157.22
2023
29-03-2023 Registered office moved within Bruxelles
- Route de Lennik 451, 1070 Bruxelles → Hermann-Debroux 54, 1160 Bruxelles
Summary:
v3.2
04-01-2023 1 director appointed, 1 resigning
2022
05-09-2022 Eric Van Hoof reappointed as statutory auditor
2020
25-09-2020 1 director appointed, 1 reappointed
07-05-2020 1 director appointed, 1 resigning
- Alexandre SABOUNDJIAN, Bestuurder
- Alexandre SABOUNDJIAN, Bestuurder
Summary:
v3.2
2017
07-09-2017 1 director appointed, 1 resigning
18-05-2017 1 director appointed, 1 resigning
15-02-2017 Eric Van Hoof appointed as statutory auditor
2015
16-12-2015 1 director appointed, 2 resigning
- Jocelyn Seilles, Bestuurder
- Gaë! Claude, Bestuurder
- Richard Leigh Newsome, Bestuurder
Summary:
v3.2
20-04-2015 3 reappointed
- Alexandre Saboundjian, Bestuurder
- Gaël Claude, Bestuurder
- Richard Leigh Newsome, Bestuurder
Summary:
v3.2
2014
13-10-2014 Articles of association amended
Summary:
v3.2
2013
30-10-2013 Henri Gagnaire reappointed as director
2012
19-03-2012 Xavier FAURE appointed as director
07-03-2012 Capital increase of €499.50 to €1,256,773.22
Analysis
Snowflake analysis
financial profile on 5 axes66
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
38
Profitability
42
Solvency
67
Growth
85
Stability
100
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Names & trade names
| Legal nameFR | RADIONOMY |
Registered office
Herrmann-Debrouxlaan 54
1160 Oudergem, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.