SECUREX WATERSPORTBAAN
ActiveSummary
SECUREX WATERSPORTBAAN has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.65M and a net result of €328k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 34% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability43▲+3
Solvency47▲+1
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €400k at 30 days acceptable
Liquidity short (current ratio 0.19 against 0.27 in 2024; short-term debt: 15.5% and cash: 0% of total assets), and 78% 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
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
22%
Return on assets
1.1%
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
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
31 d early
2023
19 d early
2022
18 d early
2021
37 d early
2020
37 d early
2019
32 d early
← 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€328k
2024 · €-111k
2018: €-70k
2019: €-272k
2020: €-581k
2023: €-313k
2024: €-111k
2018 → 2025
Working capital
€-3.79M▼ 30.2%
2024 · €-2.91M
2018: €170k
2019: €279k
2020: €-1.99M
2023: €-3.12M
2024: €-2.91M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202320242025Trend
Equity€8.23M-€7.65M▼ 7.1%€6.43M▼ 15.9%€6.32M▼ 1.7%€6.65M▲ 5.2%
Operating result€-77k-€-174k▼ 126%€192k€386k▲ 101%€903k▲ 134%
Net result€-272k-€-581k▼ 113%€-313k▲ 46.0%€-111k▲ 64.5%€328k
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 134% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €30.20M
Fixed assets
€29.31M ▲ 1.0%
Current assets
€895k ▼ 17.2%
Equity and liabilities €30.20M
Equity
€6.65M ▲ 5.2%
Provisions
€84k ▼ 76.9%
Debt
€23.47M ▲ 0.2%
Debt's share of the balance-sheet total falls from 77.8% to 77.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.56M▲
2024 · €1.31M
Cash flow
€990k▲
2024 · €815k
Current ratio
0.19▼
2024 · 0.27
Debt to equity
3.53▼
2024 · 3.70
ROE
4.9%▲
2024 · -1.8%
ROA
1.1%▲
2024 · -0.4%
Interest coverage
2.75▲
2024 · 2.60
Debt ≤ 1 year
€4.69M▲
2024 · €3.99M
Debt > 1 year
€18.39M▼
2024 · €19.07M
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€30.10M€30.20M▲
Fixed assets21/28€29.02M€29.31M▲
Tangible fixed assets22/27€29.02M€29.31M▲
Land and buildings22€28.49M€28.84M▲
Plant, machinery and equipment23€14k€6k▼
Furniture and vehicles24€517k€435k▼
Other tangible fixed assets26-€22k
Current assets29/58€1.08M€895k▼
Amounts receivable within one year40/41€589k€772k▲
Trade receivables40€588k€693k▲
Other amounts receivable41€1k€79k▲
Cash at bank and in hand54/58€253k€6k▼
Deferred charges and accrued income490/1€240k€117k▼
Equity and liabilities
Total equity and liabilities10/49€30.10M€30.20M▲
Equity10/15€6.32M€6.65M▲
Contributions10/11€10.12M€10.12M=
Capital10€9.92M€9.92M=
Issued capital100€9.92M€9.92M=
Outside capital11€199k€199k=
Share premium1100/10€199k€199k=
Reserves13€589k€605k▲
Non-distributable reserves130/1€589k€605k▲
Legal reserve130€589k€605k▲
Profit (loss) carried forward14€-4.39M€-4.08M▲
Provisions and deferred taxes16€364k€84k▼
Provisions for liabilities and charges160/5€364k€84k▼
Other liabilities and charges164/5€364k€84k▼
Amounts payable17/49€23.41M€23.47M▲
Amounts payable after more than one year17€19.07M€18.39M▼
Financial debts170/4€19.07M€18.39M▼
Amounts payable within one year42/48€3.99M€4.69M▲
Current portion of amounts payable after more than one year42€811k€774k▼
Trade debts44€1.28M€163k▼
Suppliers440/4€1.28M€163k▼
Taxes, remuneration and social security45€70k-
Taxes450/3€70k-
Other amounts payable47/48€1.83M€3.75M▲
Accrued charges and deferred income492/3€346k€386k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€927k€662k▼
Other operating charges640/8€191k€122k▼
Gross operating margin9900€1.50M€1.69M▲
Operating profit (loss)9901€386k€903k▲
Financial income75/76B€7k€5k▼
Recurring financial income75€7k€5k▼
Financial charges65/66B€505k€579k▲
Recurring financial charges65€505k€570k▲
Non-recurring financial charges66B-€10k
Profit (loss) for the period before taxes9903€-111k€328k▲
Profit (loss) for the period9904€-111k€328k▲
Profit (loss) for the period to be appropriated9905€-111k€328k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-4.39M€-4.06M▲
Profit (loss) brought forward from the previous period14P€-4.28M€-4.39M▼
Transfer to equity691/2-€16k
To the legal reserve6920-€16k
The notes to these accounts (12 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
24-09
State Gazette act
Resignation: Securex Arbeidsongevallen (director)Permanent representative: Serge DEMOULIN · Appointments: Joeri Klaykens, Tim Mogal and 2 others · Reappointment: ERNST & YOUNG (E&Y) (statutory auditor)10 facts ▸
State Gazette act
Resignation: Securex Arbeidsongevallen (director)
Permanent representative: Serge DEMOULIN · Appointments: Joeri Klaykens, Tim Mogal and 2 others · Reappointment: ERNST & YOUNG (E&Y) (statutory auditor)10 facts ▸
- General meeting, 23-06-2026
- Director resignation, Securex Arbeidsongevallen (director)
- Permanent representative, Serge DEMOULIN (permanent representative)
- Auditor appointment, Joeri Klaykens
- Auditor appointment, Tim Mogal
- Power of attorney, Liesbet DEMASURE
- Power of attorney, Marie-Véronique SCHUERMANS
- Director appointment, ASSINCO bv (director)
- Director appointment, Alain BRAIVE (director)
- Auditor reappointment, ERNST & YOUNG (E&Y)
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €328k
Net result €328k after 5 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-581k
Net result drops to €-581k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
Alain BRAIVE
CurrentDirector · since 24-09-2026
ASSETS INVESTMENTS AND CONSULTANCY
CurrentDirector · since 24-09-2026 · Private limited company · perm. rep.: Serge DEMOULIN
24-09-2026
Alain BRAIVE: Appointed as Director
24-09-2026
ASSETS INVESTMENTS AND CONSULTANCY: Appointed as Director
23-06-2026
Securex Arbeidsongevallen: Resigned as Director
Location & real-estate footprint
Registered office, Etterbeek · 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.
Tervurenlaan 431040 EtterbeekGround area
1,893 m²
Building footprint
881 m²
Volume, LiDAR
13,321 m³
2 parcels, Brussels, Flanders · tallest building 31.3 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
Frankrijklei 53-55
since 20112.205.143.956
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1216/00L000 | Flanders | 1,439 m² | 1 · 556 m² | 31.3 m · 9 fl. |
| 21005A0563/06_000 | Brussels | 454 m² | 1 · 325 m² | 14.9 m · 1 fl. |
Linked by address, not proof of ownership
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.
Statutory auditor
2 auditors| ERNST & YOUNG (E&Y)Current Auditor | 24-09-2026 → present |
| Joeri KlaykensCurrent Auditor | 24-09-2026 → present |
Structure & network
Connections & network
11 connected companiesLinked via shared directors
via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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Show 7 more companies with a shared director
via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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via Alain BRAIVE · Director
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via Alain BRAIVE · Director
former→
via Alain BRAIVE · Director
former→
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OSSEHOEVE
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Of 3,768 companies in sector 68321 we hold annual accounts for 1,391. 359 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 formPublic limited company
Founded16-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.