45 MANAGEMENT
ActiveSummary
45 MANAGEMENT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €202,016 and a net result of -€60,492. Equity is growing by ~15.6% per year across the filed fiscal years. Its solvency ranks better than 39% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability3▼-19
Solvency67▲+25
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 4.61 against 1.43 in 2024; short-term debt: 19.8% and cash: 0.1% of total assets), but 57.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 17-07-2026, 14 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
14 d early
2024
27 d early
2023
43 d late
2022
2 d early
2021
75 d late
2020
51 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 4 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 29 July (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies How does this company compare with its sector?Sector benchmark
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€202,016▼ 31.8%
2024 · €296,236
Total assets
€476,976▼ 72.7%
2024 · €1.7m
Net result
-€60,492
2024 · €52,175
Working capital
€340,491▼ 34.2%
2024 · €517,344
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€168-€21,574▼ 12,759%-€14,722▲ 31.8%-€17,020▼ 15.6%-€126,294▼ 642%
Net result-€15,374below the sector's middle half€51,569within the sector's middle half€51,923within the sector's middle half▲ 0.7%€52,175within the sector's middle half▲ 0.5%-€60,492below the sector's middle half
Equity€143,035within the sector's middle half▼ 9.7%€193,804within the sector's middle half▲ 35.5%€244,895above the sector's middle half▲ 26.4%€296,236above the sector's middle half▲ 21.0%€202,016within the sector's middle half▼ 31.8%
Total assets€1.8mabove the sector's middle half▼ 0.7%€1.8mabove the sector's middle half▼ 0.3%€1.8mabove the sector's middle half▼ 1.0%€1.7mabove the sector's middle half▼ 1.4%€476,976above the sector's middle half▼ 72.7%
Debt€1.7m▲ 0.2%€1.6m▼ 3.4%€1.5m▼ 4.3%€1.5m▼ 5.0%€274,961▼ 81.1%
Working capital€476,678above the sector's middle half▲ 15.2%€493,599above the sector's middle half▲ 3.5%€507,098above the sector's middle half▲ 2.7%€517,344above the sector's middle half▲ 2.0%€340,491above the sector's middle half▼ 34.2%
Solvency8.0%below the sector's middle half▼ 0.8pp10.8%below the sector's middle half▲ 2.9pp13.8%below the sector's middle half▲ 3.0pp16.9%below the sector's middle half▲ 3.1pp42.4%within the sector's middle half▲ 25.4pp
Current ratio1.38within the sector's middle half▲ 0.071.40within the sector's middle half▲ 0.021.41within the sector's middle half▲ 0.021.43within the sector's middle half▲ 0.024.61above the sector's middle half▲ 3.19
Return on assets (ROA)-0.9%below the sector's middle half▼ 9.4pp2.9%within the sector's middle half▲ 3.7pp2.9%within the sector's middle half=3.0%within the sector's middle half▲ 0.1pp-12.7%below the sector's middle half▼ 15.7pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €126,294 in 2025 against €17,020 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €476,976
Fixed assets
€42,271 ▲ 122%
Current assets
€434,705 ▼ 74.9%
Equity and liabilities €476,976
Equity
€202,016 ▼ 31.8%
Debt
€274,961 ▼ 81.1%
Debt's share of the balance-sheet total falls from 83.1% to 57.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€113,593▼
2024 · -€2,004
Cash flow
-€47,791▼
2024 · €67,191
Debt to equity
1.36▼
2024 · 4.90
ROE
-29.9%▼
2024 · 17.6%
Interest coverage
-10.30▼
2024 · -0.19
Debt ≤ 1 year
€94,214▼
2024 · €1.2m
Debt > 1 year
€179,693▼
2024 · €237,884
Income taxes
€457▼
2024 · €23,634
Staff costs
€24,269▲
2024 · €22,906
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 224 companies that looked in July 2024 the way this one looks now, 4.0% went bankrupt within 24 months and 88% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
4.0%
went bankrupt
7.1%
stopped otherwise
88%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 224 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €21,899 | €22,420 | €21,466 | €22,906 | €24,269 | ▲ 6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,273 | €22,293 | €18,495 | €15,016 | €12,701 | ▼ 15.4% |
| Other operating charges640/8 | €2,130 | €3,257 | €3,109 | €2,517 | €2,681 | ▲ 6.5% |
| Non-recurring operating charges66A | €115 | €2,504 | €1,116 | €286 | €115 | ▼ 59.7% |
| Gross operating margin9900 | €44,248 | €28,900 | €29,463 | €23,705 | -€86,528 | ▼ 465% |
| Operating profit (loss)9901 | -€168 | -€21,574 | -€14,722 | -€17,020 | -€126,294 | ▼ 642% |
| Financial income75/76B | - | €103,338 | €103,375 | €103,614 | €77,288 | ▼ 25.4% |
| Recurring financial income75 | - | €103,338 | €103,375 | €103,614 | €77,288 | ▼ 25.4% |
| Financial charges65/66B | €14,872 | €14,796 | €12,600 | €10,785 | €11,029 | ▲ 2.3% |
| Recurring financial charges65 | €14,872 | €14,796 | €12,600 | €10,785 | €11,029 | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | -€15,040 | €66,968 | €76,053 | €75,809 | -€60,035 | ▼ 179% |
| Income taxes67/77 | €335 | €15,399 | €24,129 | €23,634 | €457 | ▼ 98.1% |
| Profit (loss) for the period9904 | -€15,374 | €51,569 | €51,923 | €52,175 | -€60,492 | ▼ 216% |
| Profit (loss) for the period to be appropriated9905 | -€15,374 | €51,569 | €51,923 | €52,175 | -€60,492 | ▼ 216% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €1.8m | €1.8m | €1.7m | €476,976 | ▼ 72.7% |
| Fixed assets21/28 | €68,054 | €51,032 | €34,077 | €19,061 | €42,271 | ▲ 122% |
| Tangible fixed assets22/27 | €68,054 | €51,032 | €34,077 | €19,061 | €28,271 | ▲ 48.3% |
| Land and buildings22 | €44,296 | €37,665 | €28,185 | €17,085 | €13,280 | ▼ 22.3% |
| Plant, machinery and equipment23 | €6,942 | €5,228 | €3,513 | €1,799 | €85 | ▼ 95.3% |
| Furniture and vehicles24 | €16,815 | €8,139 | €2,378 | €177 | €14,907 | ▲ 8,343% |
| Financial fixed assets28 | - | - | - | - | €14,000 | - |
| Current assets29/58 | €1.7m | €1.7m | €1.7m | €1.7m | €434,705 | ▼ 74.9% |
| Amounts receivable within one year40/41 | €1.7m | €1.7m | €1.7m | €1.7m | €434,148 | ▼ 74.8% |
| Trade receivables40 | €1,258 | €15,125 | €15,125 | - | - | - |
| Other amounts receivable41 | €1.7m | €1.7m | €1.7m | €1.7m | €434,148 | ▼ 74.8% |
| Cash at bank and in hand54/58 | €2,195 | €357 | €178 | €5,627 | €558 | ▼ 90.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €1.8m | €1.8m | €1.7m | €476,976 | ▼ 72.7% |
| Equity10/15 | €143,035 | €193,804 | €244,895 | €296,236 | €202,016 | ▼ 31.8% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €153,409 | €188,804 | €239,895 | €291,236 | €257,508 | ▼ 11.6% |
| Distributable reserves133 | €153,409 | €188,804 | €239,895 | €291,236 | €257,508 | ▼ 11.6% |
| Profit (loss) carried forward14 | -€15,374 | - | - | - | -€60,492 | - |
| Amounts payable17/49 | €1.7m | €1.6m | €1.5m | €1.5m | €274,961 | ▼ 81.1% |
| Amounts payable after more than one year17 | €401,696 | €348,828 | €294,243 | €237,884 | €179,693 | ▼ 24.5% |
| Financial debts170/4 | €401,696 | €348,828 | €294,243 | €237,884 | €179,693 | ▼ 24.5% |
| Amounts payable within one year42/48 | €1.3m | €1.2m | €1.2m | €1.2m | €94,214 | ▼ 92.2% |
| Current portion of amounts payable after more than one year42 | €63,597 | €58,262 | €59,979 | €61,753 | €63,585 | ▲ 3.0% |
| Financial debts43 | - | - | €0 | - | - | - |
| Credit institutions430/8 | - | - | €0 | - | - | - |
| Trade debts44 | €79,643 | €18,365 | €38,558 | €29,820 | €26,960 | ▼ 9.6% |
| Suppliers440/4 | €79,643 | €18,365 | €38,558 | €29,820 | €26,960 | ▼ 9.6% |
| Taxes, remuneration and social security45 | €9,169 | €21,877 | €34,679 | €28,677 | €1,503 | ▼ 94.8% |
| Taxes450/3 | €9,169 | €18,392 | €31,129 | €28,677 | €1,503 | ▼ 94.8% |
| Remuneration and social security454/9 | - | €3,485 | €3,550 | - | - | - |
| Other amounts payable47/48 | €1.1m | €1.1m | €1.1m | €1.1m | €2,167 | ▼ 99.8% |
| Accrued charges and deferred income492/3 | - | €1,999 | €2,037 | €2,285 | €1,054 | ▼ 53.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,374 | €51,569 | €51,923 | €52,175 | -€60,492 | ▼ 216% |
| + Depreciation and write-downs630 | €20,273 | €22,293 | €18,495 | €15,016 | €12,701 | ▼ 15.4% |
| Operating cash flow (approximation) | €4,898 | €73,862 | €70,418 | €67,191 | -€47,791 | ▼ 171% |
| Investment in fixed assets (approximation) | - | -€5,271 | -€1,540 | €0 | -€35,911 | - |
| Change in cash | - | -€1,839 | -€178 | €5,448 | -€5,069 | ▼ 193% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€60,492
Net result drops to -€60,492, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 4.61
Current ratio from 1.43 to 4.61; short-term debt falls from €1.2m to €94,214.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
2023
31-12
Financial
Equity above €200,000Eq €244,895 ▲26.4%
2 profitable years in a row build equity to €244,895.
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €51,569
Net result €51,569 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €193,804 ▲35.5%
Equity rises from €143,035 to €193,804.
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
2021
10-06
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.
0 of 2 acts read
About the unread acts
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2019
Ground area
2,412 m²
Building footprint
165 m²
Parcel 46013A0374/00D000, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
45 MANAGEMENT
since 20192.291.072.296
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46013A0374/00D000 | Flanders | 2,412 m² | 1 · 165 m² | 0.0 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Subsidies and aid
Flemish government
2025 · 1 entry · 357 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 357 EUR | 0 EUR |
Similar companies · same sector, comparable size
WATCHCO
BE 0887.586.325
Herent · Eq €202,004
BC MANAGEMENT
BE 0826.081.593
Lievegem · Eq €202,033
BJV INVEST
BE 0804.966.178
Verlaine · Eq €202,036
MAP MANAGEMENT
BE 0544.780.110
Lasne · Eq €202,038
Deblanc
BE 0835.416.755
Ronse · Eq €202,043
Of 82,601 companies in this sector we hold annual accounts for 52,629. 40,057 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded04-07-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0729799888
Also
9925:BE0729799888
Registered
12-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.