STONEHENGE VC
ActiveSTONEHENGE VC has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.49M and a net result of €-335k. Equity is growing by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 44% of 6010 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency69▼-7
Growth35=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days only on tighter terms
Liquidity ample (current ratio 1.51 against 1.65 in 2023), but 63.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
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 · 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 2024Solvency, return and age of the figures
Solvency
36.8%
Return on assets
-8.3%
Age of the figures
20 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€335k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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
not confirmed
2024
60 d late
2023
92 d late
2022
225 d late
2021
95 d late
2020
2 d early
2019
48 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€1.04M▼ 69.7%
2023 · €3.45M
2020: €19.30M
2021: €7.66M
2022: €6.18M
2023: €3.45M
2020 → 2024
EBIT margin
-32.4%▼ 28.7pp
2023 · -3.7%
2020: 4.1%
2021: 3.1%
2022: 3.1%
2023: -3.7%
2020 → 2024
Net result
€-335k▼ 91.5%
2023 · €-175k
2018: €292k
2019: €353k
2020: €707k
2021: €228k
2022: €-125k
2023: €-175k
2018 → 2024
Working capital
€853k▼ 28.0%
2023 · €1.18M
2018: €186k
2019: €858k
2020: €1.50M
2021: €1.59M
2022: €1.28M
2023: €1.18M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€19.30M-€7.66M▼ 60.3%€6.18M▼ 19.3%€3.45M▼ 44.2%€1.04M▼ 69.7%
Equity€1.89M-€2.12M▲ 12.0%€2.00M▼ 5.9%€1.82M▼ 8.8%€1.49M▼ 18.4%
Operating result€786k-€236k▼ 70.0%€194k▼ 17.9%€-129k€-339k▼ 163%
Net result€707k-€228k▼ 67.7%€-125k€-175k▼ 40.1%€-335k▼ 91.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €339k in 2024 against €129k in 2023; the loss grows and 2024 is the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.05M
Fixed assets
€1.52M▼ 3.2%
Current assets
€2.53M▼ 16.0%
Equity and liabilities €4.05M
Equity
€1.49M▼ 18.4%
Debt
€2.56M▼ 7.2%
The debt ratio rises from 60.2% to 63.2%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-254k▼
2023 · €-49k
Cash flow
€-250k▼
2023 · €-95k
Solvency
36.8%▼
2023 · 39.8%
Current ratio
1.51▼
2023 · 1.65
Quick ratio
1.51▼
2023 · 1.65
Debt / equity
1.72▲
2023 · 1.51
ROE
-22.5%▼
2023 · -9.6%
ROA
-8.3%▼
2023 · -3.8%
Interest coverage
-6.21▼
2023 · -1.00
Debt
€2.56M▼
2023 · €2.76M
Debt ≤ 1 year
€1.67M▼
2023 · €1.82M
Debt > 1 year
€869k▼
2023 · €930k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€4.58M€4.05M▼
Fixed assets21/28€1.57M€1.52M▼
Tangible fixed assets22/27€1.53M€1.45M▼
Land and buildings22€1.35M€1.32M▼
Furniture and vehicles24€179k€131k▼
Financial fixed assets28€42k€70k▲
Other financial fixed assets284/8€42k€70k▲
Amounts receivable and cash guarantees285/8€42k€70k▲
Current assets29/58€3.01M€2.53M▼
Amounts receivable after more than one year29-€20k
Other amounts receivable291-€20k
Amounts receivable within one year40/41€2.85M€2.44M▼
Trade receivables40€2.55M€1.53M▼
Other amounts receivable41€301k€909k▲
Cash at bank and in hand54/58€90k€20k▼
Deferred charges and accrued income490/1€67k€51k▼
Equity and liabilities
Total equity and liabilities10/49€4.58M€4.05M▼
Equity10/15€1.82M€1.49M▼
Contributions10/11€294k€294k=
Reserves13€1.53M€1.19M▼
Non-distributable reserves130/1€29k€29k=
Reserves not available under the articles1311€29k€29k=
Tax-exempt reserves132€154k€154k=
Distributable reserves133€1.35M€1.01M▼
Amounts payable17/49€2.76M€2.56M▼
Amounts payable after more than one year17€930k€869k▼
Financial debts170/4€930k€869k▼
Credit institutions173€930k€869k▼
Amounts payable within one year42/48€1.82M€1.67M▼
Current portion of amounts payable after more than one year42€65k€61k▼
Trade debts44€1.70M€1.42M▼
Suppliers440/4€1.70M€1.42M▼
Taxes, remuneration and social security45€361-
Remuneration and social security454/9€361-
Other amounts payable47/48€58k€198k▲
Accrued charges and deferred income492/3-€14k
Income statement
Code20232024
Operating income70/76A€3.45M€1.04M▼
Turnover70€3.45M€1.04M▼
Operating charges60/66A€3.58M€1.38M▼
Goods for resale, raw materials and consumables60€2.95M€667k▼
Purchases600/8€2.95M€667k▼
Services and other goods61€472k€605k▲
Remuneration, social security and pensions62€52k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€80k€84k▲
Other operating charges640/8€19k€27k▲
Operating profit (loss)9901€-129k€-339k▼
Financial income75/76B€150k€59k▼
Recurring financial income75€150k€59k▼
Income from financial fixed assets750-€4k
Income from current assets751€8k€17k▲
Other financial income752/9€143k€38k▼
Financial charges65/66B€181k€55k▼
Recurring financial charges65€181k€55k▼
Debt charges650€49k€41k▼
Other financial charges652/9€132k€14k▼
Profit (loss) for the period before taxes9903€-160k€-335k▼
Income taxes67/77€15k-
Taxes670/3€15k-
Profit (loss) for the period9904€-175k€-335k▼
Profit (loss) for the period to be appropriated9905€-175k€-335k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-175k€-335k▼
Transfer from equity791/2€175k€335k▲
From reserves792€175k€335k▲
Social balance
Average headcount (FTE)90870.5-
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 60 days late
2024
31-12
Financial
Weakest financial yearnet €-335k
Net result drops to €-335k, the lowest in the series.
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 92 days late
12-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 225 days late
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 95 days late
2021
31-12
Financial
Equity above €2MEq €2.12M ▲12%
4 profitable years in a row build equity to €2.12M.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €707k ▲100%
Operating result €786k, net result €707k, both a record.
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 48 days late
2019
31-12
Financial
Equity above €1MEq €1.19M ▲42.4%
2 profitable years in a row build equity to €1.19M.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
22-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 53 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
18 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, Sint-Martens-Latem · 1 establishment unit since 2011
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.
Kortrijksesteenweg 629830 Sint-Martens-LatemGround area
3,578 m²
Building footprint
920 m²
Volume, LiDAR
8,082 m³
Parcel 44064B0243/00G002, Flanders · tallest building 12.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
STONEHENGE VC
since 20112.199.684.539
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0243/00G002 | Flanders | 3,578 m² | 1 · 920 m² | 12.7 m · 3 fl. |
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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
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Of 536 companies in sector 46120 we hold annual accounts for 302. 165 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded26-04-2011
Fiscal year end31-12
Activities, NACEBEL
46120Wholesale trade
46852Wholesale trade
64200Holdings
64210Activities of holding companies
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:annik@stonehengevc.com