Checked.be
Active
BE 0727.466.940Private limited company
Subline
Vuurkruisenlaan 11 ·3500 Hasselt, Belgium· 7 yrs active
Sector: Veterinary services
(75000)
Conclusion
Subline has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €208k and a net result of €46k. Equity is growing by ~20.8% per year across the filed fiscal years. Its solvency ranks better than 91% of 1227 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €208k |
| Net result | €46k |
| Better than sector | 91% |
| Active | 7 yrs |
Financial profile
90
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
100
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2019, past the statistically most fragile first 3 years.
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 strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€21k
estimate, not credit advice
Score history
85
2021
93
2022
100
2023
93
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 9.74 (≥ 1.5)
+10
Quick ratio
Quick ratio 9.74 (≥ 1.0)
+5
Leverage
Debt/equity 0.11 (< 1.0)
+10
Profitability
ROE 22% (≥ 10%)
+10
Interest coverage
Interest coverage 92.3× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 02-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~20.8%/year over 5 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 2025 · NACE 75, Veterinary activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 89.9% | 52.6% | |
| Net result | €46k | €31k | |
| Equity | €208k | €90k | |
| Gross operating margin | €63k | €69k | |
| Total assets | €231k | €219k |
€62k
+124.1%
21-25
€46k
+141.0%
21-25
€47k
+126.8%
21-25
€231k
+36.0%
21-25
€208k
+28.0%
21-25
€204k
+29.7%
21-25
€18k
+124.7%
21-25
€23k
+206.7%
21-25
€23k
+206.7%
21-25
9.74
-55.0%
21-25
9.74
-55.0%
21-25
89.9%
-5.9%
21-25
0.11
+139.6%
21-25
21.9%
+88.3%
21-25
19.7%
+77.2%
21-25
92.33
-60.9%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €62k | €28k | €38k | €30k | - |
| Net profit | €46k | €19k | €27k | €20k | €74k |
| Cash flow | €47k | €21k | €28k | €23k | - |
| Staff costs | - | - | - | - | - |
| Income taxes | €18k | €8k | €11k | €8k | €29k |
| Dividends | - | - | - | - | - |
| Total assets | €231k | €170k | €165k | €164k | €159k |
| Equity | €208k | €163k | €144k | €117k | €97k |
| Debt | €23k | €8k | €21k | €47k | €62k |
| of which ≤ 1y | €23k | €8k | €21k | €47k | €62k |
| of which > 1y | - | - | - | - | - |
| Working capital | €204k | €157k | €137k | €101k | €97k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 9.74 | 21.67 | 7.39 | 3.16 | 2.56 |
| Quick ratio | 9.74 | 21.67 | 7.39 | 3.16 | 2.56 |
| Working capital ratio | 88.2% | 92.4% | 82.8% | 61.5% | 60.9% |
| Solvency | 89.9% | 95.5% | 87.0% | 71.5% | 60.9% |
| Debt / equity | 0.11 | 0.05 | 0.15 | 0.40 | 0.64 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 92.33 | 236.02 | 81.81 | 111.81 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 19.7% | 11.1% | 16.2% | 12.2% | 46.8% |
| ROE | 21.9% | 11.6% | 18.6% | 17.1% | 76.8% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €231k | €170k | €165k | €164k | €159k |
| Fixed assets | 21/28 | €4k | €5k | €7k | €16k | - |
| Tangible fixed assets | 22/27 | €4k | €5k | €7k | €16k | - |
| Current assets | 29/58 | €227k | €165k | €158k | €147k | €159k |
| Amounts receivable within one year | 40/41 | €27k | €39k | €39k | €25k | €131k |
| Investments | 50/53 | €45k | - | - | - | - |
| Cash & bank | 54/58 | €105k | €122k | €117k | €120k | €28k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €231k | €170k | €165k | €164k | €159k |
| Equity | 10/15 | €208k | €163k | €144k | €117k | €97k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Reserves | 13 | €196k | €150k | €131k | €105k | €85k |
| Amounts payable | 17/49 | €23k | €8k | €21k | €47k | €62k |
| Amounts payable within one year | 42/48 | €23k | €8k | €21k | €47k | €62k |
| Trade debts payable within one year | 44 | €3k | €2 | €4k | €1k | €808 |
| Income statement | ||||||
| Gross operating margin | 9900 | €63k | €29k | €39k | €31k | €105k |
| Operating result | 9901 | €61k | €26k | €37k | €28k | €104k |
| Financial income | 75 | €3k | €975 | €839 | €839 | - |
| Financial charges | 65 | €675 | €118 | €467 | €272 | €813 |
| Result before taxes | 9903 | €64k | €27k | €37k | €28k | €103k |
| Income taxes | 67/77 | €18k | €8k | €11k | €8k | €29k |
| Net result for the period | 9904 | €46k | €19k | €27k | €20k | €74k |
| Result to be appropriated | 9905 | €46k | €19k | €27k | €20k | €74k |
Legal Structure
| NACE primary | Veterinary services(75000) |
| Legal form | Private limited company(610) |
| Incorporation | 24-05-2019 |
| Status | Active |
| Postal code | 3500 |
Establishment units
Subline
since 20192.289.643.329
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71328D0359/00H010 | Flanders | 471 m² | 1 · 182 m² | 10.8 m · 1 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €200kEq €208k ▲28%
5 profitable years in a row build equity to €208k.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €19k ▼29.2%
Net result drops to €19k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 21.67
Current ratio from 7.39 to 21.67; short-term debt falls from €21k to €8k.
31-12
Financial
Equity above €150kEq €163k ▲13.1%
4 profitable years in a row build equity to €163k.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 7.39
Current ratio from 3.16 to 7.39; short-term debt falls from €47k to €21k.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
31-12
Financial
Equity above €100kEq €117k ▲20.6%
2 profitable years in a row build equity to €117k.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Veterinary services75000Business and other management consultancy70200Business consulting70220Other business support services82990
Names & trade names
| Legal nameNL | Subline |
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