Z!
ActiveSummary
Z! has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-100k) and a net result of €-73k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 1991 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
44
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-18
Solvency0▼-17
Growth22▼-36
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.59 against 0.93 in 2024; short-term debt: 144.1% and cash: 34.6% of total assets), and equity is negative.
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-76.9%
Return on assets
-56.4%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-100k
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
28 d early
2023
36 d early
2022
32 d early
2021
67 d early
2020
16 d early
2019
47 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€520k▼ 25.4%
2024 · €697k
2024: €697k
2024 → 2025
EBIT margin
-16.7%▲ 12.8pp
2024 · -29.5%
2024: -29.5%
2024 → 2025
Net result
€-73k
2024 · €21k
2018: €-53k
2019: €41k
2020: €62k
2021: €-7k
2022: €-80k
2023: €-119k
2024: €21k
2018 → 2025
Working capital
€-76k▼ 235%
2024 · €-23k
2018: €94k
2019: €109k
2020: €193k
2021: €198k
2022: €142k
2023: €-60k
2024: €-23k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€697k€520k▼ 25.4%
Equity€148k-€69k▼ 53.7%€-48k€-27k▲ 44.5%€-100k▼ 276%
Operating result€-2k-€-95k▼ 4,822%€-117k▼ 22.4%€-206k▼ 76.6%€-87k▲ 57.8%
Net result€-7k-€-80k▼ 1,010%€-119k▼ 49.7%€21k€-73k
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €87k in 2025 against €206k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €129k
Fixed assets
€19k ▼ 32.5%
Current assets
€110k ▼ 64.8%
Key figures and ratios
EBITDA
€-78k▲
2024 · €-195k
Cash flow
€-64k▼
2024 · €32k
Solvency
-76.9%▼
2024 · -7.8%
Current ratio
0.59▼
2024 · 0.93
Debt to equity
-2.30▲
2024 · -13.89
ROA
-56.4%▼
2024 · 6.2%
Interest coverage
-13.54▲
2024 · -35.13
Debt
€229k▼
2024 · €368k
Debt ≤ 1 year
€187k▼
2024 · €336k
Debt > 1 year
€7k▼
2024 · €22k
Staff costs
€542k▼
2024 · €589k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€342k€129k▼
Fixed assets21/28€28k€19k▼
Intangible fixed assets21€0-
Tangible fixed assets22/27€22k€15k▼
Plant, machinery and equipment23€17k€12k▼
Furniture and vehicles24€5k€3k▼
Financial fixed assets28€6k€4k▼
Current assets29/58€313k€110k▼
Amounts receivable within one year40/41€240k€58k▼
Trade receivables40€118k€4k▼
Other amounts receivable41€123k€54k▼
Cash at bank and in hand54/58€69k€45k▼
Deferred charges and accrued income490/1€4k€8k▲
Equity and liabilities
Total equity and liabilities10/49€342k€129k▼
Equity10/15€-27k€-100k▼
Contributions10/11€1k€1k=
Capital10€1k€1k=
Profit (loss) carried forward14€-28k€-101k▼
Amounts payable17/49€368k€229k▼
Amounts payable after more than one year17€22k€7k▼
Financial debts170/4€22k€7k▼
Amounts payable within one year42/48€336k€187k▼
Current portion of amounts payable after more than one year42€14k€15k▲
Financial debts43€94k€72k▼
Credit institutions430/8€94k€72k▼
Trade debts44€62k€21k▼
Suppliers440/4€62k€21k▼
Taxes, remuneration and social security45€166k€79k▼
Taxes450/3€95k€28k▼
Remuneration and social security454/9€71k€51k▼
Accrued charges and deferred income492/3€10k€35k▲
Income statement
Code20242025
Turnover70€697k€520k▼
Goods, raw materials, services and sundry goods60/61€1.00M€760k▼
Remuneration, social security and pensions62€589k€542k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€9k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-3k-
Other operating charges640/8€36k€166▼
Non-recurring operating charges66A€8k€10k▲
Gross operating margin9900€435k€474k▲
Operating profit (loss)9901€-206k€-87k▲
Financial income75/76B€233k€20k▼
Recurring financial income75€28k€351▼
Non-recurring financial income76B€205k€19k▼
Financial charges65/66B€6k€6k▲
Recurring financial charges65€6k€6k▲
Profit (loss) for the period before taxes9903€21k€-73k▼
Profit (loss) for the period9904€21k€-73k▼
Profit (loss) for the period to be appropriated9905€21k€-73k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-160k€-101k▲
Profit (loss) brought forward from the previous period14P€-181k€-28k▲
From contributions791€132k-
The notes to these accounts (15 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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €21k
Net result €21k after 3 loss-making years.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-119k
Net result drops to €-119k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €62k ▲52%
Operating result €48k, net result €62k, both a record.
31-12
Financial
Equity above €150kEq €155k ▲66.4%
2 profitable years in a row build equity to €155k.
16-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 47 days late
2019
31-12
Financial
Back to profitnet €41k
Net result €41k after one loss-making year.
Show earlier events
08-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
15-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
14 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, Floreffe · 1 establishment unit since 2008
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.
Rue Célestin-Hastir 1055150 FloreffeGround area
1,360 m²
Building footprint
136 m²
Volume, LiDAR
769 m³
Parcel 92045A0742/00V008, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Z, LES AMIS D'ESPERANZAH
since 20082.198.469.762
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92045A0742/00V008 | Wallonia | 1,360 m² | 1 · 136 m² | 7.8 m · 2 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.
Public money · subsidies and aid
Federal government
2023 to 2025 · 4 entries · 26,715 EUR in total| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2025 | FOD Mobiliteit | 1 | 5,000 EUR |
| 2024 | FOD Mobiliteit | 1 | 9,985 EUR |
| 2023 | FOD Mobiliteit | 2 | 11,730 EUR |
Budget allocations
Toelagen inzake mobiliteit en vervoer (cf. art. 2.33.2 van de algemene uitgavenbegroting)
Wallonia-Brussels Federation
2021 to 2025 · 43 entries · 1,393,260 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 12 | 450,982 EUR |
| 2024 | 12 | 445,151 EUR |
| 2023 | 16 | 416,676 EUR |
| 2021 | 3 | 80,450 EUR |
Budget allocations
Conventions et contrats programmes indexés dans le domaine des musiques
Subventions aux associations reconnues à durée indéterminée dans le cadre du décret du 17 juillet 2003
Aides pluriannuelles dans le domaine des arts vivants
Subventions aux associations reconnues à durée déterminée et indéterminée dans le cadre du décret du 17 juillet 2003
Subventions relatives à la lutte contre les violences faites aux femmes
Show 5 more
Fonds budgétaire destiné à la répartition du bénéfice annuel de la Loterie nationale entre les attributaires (C)
Subventions pour les collectifs relatifs à la lutte contre les violences faites aux femmes
Initiatives en lien avec l’Egalité des chances, la lutte contre toutes formes de discrimination, l’interculturalité et la Citoyenneté en FWB
Dotation à WBI dans le cadre de la promotion internationale de_x000D_
Bruxelles
Aides ponctuelles dans le domaine des arts vivants
Similar companies · same sector, comparable size
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Of 2,276 companies in sector 90202 we hold annual accounts for 413. 324 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded10-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
90202Performing arts by artistic ensembles
90391Promotion and organisation of arts and performing arts events
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.