Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 0 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2022.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
X-FACTOR from Antwerpen, company number BE0437433673, closed financial year 2025 with a result of € -577 after tax. For that financial year X-FACTOR recorded a gross margin of € 7,231 and equity of € 95,465. Compared with financial year 2024, the result moved from € -111 to € -577. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on October 24, 2025.
€ 95,465
▼ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -577
▼ 420 % more loss than in 2024
Profit after tax over the fiscal year.
€ 0
▼ 100% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 20,465.
Debts at end 2025
€ 41
▼ € 8,752 vs 2024
Loans from banks and other lenders, long and short.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 8,000 | € 7,777 | € 6,464 | € 7,231 | ▲ 12% |
| Profit after taxes | € 319 | € 809 | € -111 | € -577 | ▼ € 466 |
| Equity | € 95,343 | € 96,152 | € 96,041 | € 95,465 | ▼ 1% |
| Total debts | € 139,052 | € 132,558 | € 126,985 | € 121,656 | ▼ 4% |
| Cash | € 93 | € 136 | € 179 | € 0 | ▼ 100% |
| Land & buildings | € 85,302 | € 79,575 | € 73,848 | € 68,121 | ▼ 8% |
| Retained profit | € 20,343 | € 21,152 | € 21,041 | € 20,465 | ▼ 3% |
| Bank debt | € 26,539 | € 17,862 | € 8,793 | € 41 | ▼ € 8,752 |
| Balance sheet total | € 234,395 | € 228,710 | € 223,027 | € 217,121 | ▼ 3% |
Key figures of X-FACTOR, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
What happened to X-FACTOR?
What happened at X-FACTOR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Ellen Vermeulen stepped down as director. NBB
- Koert Vermeulen stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 577. Source: NBB ↗
- Ellen Vermeulen became a director. NBB
- Koert Vermeulen became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 319 profit in 2022 to € 577 loss in 2025.
Best year ever: 2023, with € 809 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Ellen Vermeulen
Director
since 2016 · until 2027
since 2009 · until 2027
Establishments
Establishment units
Physical locations of this company
Laarsebaan 261
2170 Antwerpen
Lombardenvest 33
2000 Antwerpen
Active since 25 May 1989
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0437.433.673
- VAT number
- BE 0437.433.673
- Registered office
- Laarsebaan 261, 2170 Antwerpen
- Names & denominations
- X-FACTOR
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 May 1989
- Peppol
- Not registered