RELES
ActiveRELES has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €147k and a net result of €128k. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 20% of 9113 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
47
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability56▲+43
Solvency28▼-20
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity short (current ratio 0.84 against 1.11 in 2024; short-term debt: 88.2% and cash: 2.8% of total assets), and 97.2% 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+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 68
Relative position
BE, all sectors
reference
Sector 68
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
2.8%
Return on assets
2.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 9113 sector peers (2025).
NBB · sector comparisonPosition among 9113 sector peers
Solvency
better than 20%
← weakest
strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
16 d early
2024
29 d early
2023
27 d early
2022
32 d early
2021
20 d early
2020
32 d early
2019
25 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€147k▼ 87.8%
2024 · €1.20M
2019: €-46k
2020: €314k
2021: €1.51M
2022: €1.37M
2023: €1.44M
2024: €1.20M
2019 → 2025
Total assets
€5.31M▲ 1.8%
2024 · €5.22M
2019: €1.75M
2020: €4.18M
2021: €3.97M
2022: €4.53M
2023: €4.14M
2024: €5.22M
2019 → 2025
Net result
€128k
2024 · €-239k
2019: €-65k
2020: €360k
2021: €1.19M
2022: €-137k
2023: €72k
2024: €-239k
2019 → 2025
Working capital
€-729k
2024 · €369k
2019: €-288k
2020: €-6k
2021: €1.14M
2022: €931k
2023: €577k
2024: €369k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.51M-€1.37M▼ 9.1%€1.44M▲ 5.3%€1.20M▼ 16.6%€147k▼ 87.8%
Operating result€1.61M-€-85k€204k€-82k€182k
Net result€1.19M-€-137k€72k€-239k€128k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €182k after a loss of €82k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.31M
Fixed assets
€1.36M▼ 2.7%
Current assets
€3.96M▲ 3.4%
Equity and liabilities €5.31M
Equity
€147k▼ 87.8%
Debt
€5.16M▲ 28.6%
The debt ratio rises from 77.0% to 97.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€224k▲
2024 · €-41k
Cash flow
€170k▲
2024 · €-198k
Solvency
2.8%▼
2024 · 23.0%
Current ratio
0.84▼
2024 · 1.11
Quick ratio
0.04▼
2024 · 0.05
Debt / equity
35.15▲
2024 · 3.34
ROE
87.3%▲
2024 · -19.8%
ROA
2.4%▲
2024 · -4.6%
Interest coverage
4.08▲
2024 · -0.25
Debt
€5.16M▲
2024 · €4.01M
Debt ≤ 1 year
€4.68M▲
2024 · €3.46M
Debt > 1 year
€457k▼
2024 · €490k
Income taxes
€70▲
2024 · €54
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€5.22M€5.31M▲
Fixed assets21/28€1.39M€1.36M▼
Tangible fixed assets22/27€1.39M€1.36M▼
Land and buildings22€1.28M€1.24M▼
Other tangible fixed assets26€110k€111k▲
Current assets29/58€3.82M€3.96M▲
Stocks and contracts in progress3€3.65M€3.77M▲
Stocks30/36€3.65M€3.77M▲
Amounts receivable within one year40/41€49k€38k▼
Trade receivables40-€2k
Other amounts receivable41€49k€36k▼
Cash at bank and in hand54/58€125k€150k▲
Deferred charges and accrued income490/1€358€368▲
Equity and liabilities
Total equity and liabilities10/49€5.22M€5.31M▲
Equity10/15€1.20M€147k▼
Contributions10/11€19k€19k=
Reserves13€1.18M€128k▼
Distributable reserves133€1.18M€128k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€4.01M€5.16M▲
Amounts payable after more than one year17€490k€457k▼
Financial debts170/4€490k€457k▼
Amounts payable within one year42/48€3.46M€4.68M▲
Current portion of amounts payable after more than one year42€32k€33k▲
Financial debts43€2.23M€0▼
Credit institutions430/8€2.23M€0▼
Trade debts44€142k€27k▼
Suppliers440/4€142k€27k▼
Taxes, remuneration and social security45€2k€0▼
Taxes450/3€2k€0▼
Other amounts payable47/48€1.05M€4.62M▲
Accrued charges and deferred income492/3€70k€22k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€42k▲
Other operating charges640/8€4k€5k▲
Gross operating margin9900€-36k€229k▲
Operating profit (loss)9901€-82k€182k▲
Financial income75/76B€5k€908▼
Recurring financial income75€5k€908▼
Financial charges65/66B€162k€55k▼
Recurring financial charges65€162k€55k▼
Profit (loss) for the period before taxes9903€-239k€128k▲
Income taxes67/77€54€70▲
Profit (loss) for the period9904€-239k€128k▲
Profit (loss) for the period to be appropriated9905€-239k€128k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-239k€128k▲
Transfer from equity791/2€239k€1.18M▲
Transfer to equity691/2-€128k
To other reserves6921-€128k
Profit to be distributed694/7-€1.18M
Return on contributions (dividend)694-€1.18M
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (14 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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €128k
Net result €128k after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-239k ▼430%
Net result drops to €-239k, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €72k
Net result €72k after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2019net €1.19M ▲231%
Operating result €1.61M, net result €1.19M, both a record.
31-12
Financial
Equity above €1MEq €1.51M ▲379%
2 profitable years in a row build equity to €1.51M.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €360k
Net result €360k after one loss-making year.
31-12
Financial
Equity above €200kEq €314k
Equity rises from €-46k to €314k.
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Kortrijk · 1 establishment unit since 2018
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.
Beneluxpark(Kor) 118500 KortrijkGround area
2,356 m²
Building footprint
244 m²
Parcel 34354D0202/00K000, Flanders. Linked by address, not a title deed.
1 establishment unit
RELES
since 20182.282.005.469
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354D0202/00K000 | Flanders | 2,356 m² | 1 · 244 m² | 0.0 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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
Flamis
BE 0773.665.565
Dendermonde · Eq €147k
IMMO VILLA NOVA
BE 0832.978.194
Malle · Eq €147k
D.C. ALU
BE 0859.773.455
Manage · Eq €147k
SRKA INVEST
BE 0757.517.243
Sint-Jans-Molenbeek · Eq €147k
THE HUMAN WIRE
BE 0791.874.643
Zemst · Eq €147k
Of 7,322 companies in sector 68110 we hold annual accounts for 5,381. 3,813 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded15-11-2018
Fiscal year end31-12
Activities, NACEBEL
68110Buying and selling of own real estate
68121Development of residential building projects
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 7 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.