Alter-M
ActiveSummary
Alter-M has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €323,908 and a net result of €41,716. Equity is growing by ~21% per year across the filed fiscal years. Its solvency ranks better than 70% of 15369 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability81▼-10
Solvency100▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 4.21 against 3.92 in 2023; short-term debt: 23.1% and cash: 84.9% of total assets), and 24.3% of the assets are financed with debt.
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Signals
Four 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
26 d late
2023
30 d late
2022
28 d early
2021
47 d early
2020
27 d late
2019
20 d late
← 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 5 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€323,908▲ 14.3%
2023 · €283,292
Total assets
€427,707▲ 9.3%
2023 · €391,471
Net result
€41,716▼ 39.9%
2023 · €69,356
Working capital
€316,753▲ 14.5%
2023 · €276,585
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€119,388▲ 2,828%€57,452▼ 51.9%€51,510▼ 10.3%€99,172▲ 92.5%€62,729▼ 36.7%
Net result€83,839above the sector's middle half▲ 7,008%€39,860within the sector's middle half▼ 52.5%€35,179within the sector's middle half▼ 11.7%€69,356within the sector's middle half▲ 97.2%€41,716within the sector's middle half▼ 39.9%
Equity€189,898within the sector's middle half▲ 79.0%€229,758within the sector's middle half▲ 21.0%€231,936within the sector's middle half▲ 0.9%€283,292above the sector's middle half▲ 22.1%€323,908above the sector's middle half▲ 14.3%
Total assets€261,941within the sector's middle half▲ 38.2%€348,988within the sector's middle half▲ 33.2%€313,583within the sector's middle half▼ 10.1%€391,471within the sector's middle half▲ 24.8%€427,707within the sector's middle half▲ 9.3%
Debt€72,044▼ 13.7%€119,230▲ 65.5%€81,647▼ 31.5%€108,178▲ 32.5%€103,799▼ 4.0%
Working capital€181,682▲ 79.4%€220,780▲ 21.5%€224,589▲ 1.7%€276,585▲ 23.2%€316,753▲ 14.5%
Solvency72.5%within the sector's middle half▲ 16.5pp65.8%within the sector's middle half▼ 6.7pp74.0%within the sector's middle half▲ 8.1pp72.4%within the sector's middle half▼ 1.6pp75.7%within the sector's middle half▲ 3.4pp
Staff (FTE)1within the sector's middle half=1=1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting 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 falls in 2024; 2024 is 37% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €427,707
Fixed assets
€12,132 ▼ 39.8%
Current assets
€415,575 ▲ 11.9%
Equity and liabilities €427,707
Equity
€323,908 ▲ 14.3%
Debt
€103,799 ▼ 4.0%
Debt's share of the balance-sheet total falls from 27.6% to 24.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€70,765▼
2023 · €108,236
Cash flow
€49,752▼
2023 · €78,420
Current ratio
4.21▲
2023 · 3.92
Debt to equity
0.32▼
2023 · 0.38
ROE
12.9%▼
2023 · 24.5%
ROA
9.8%▼
2023 · 17.7%
Interest coverage
26.61▼
2023 · 175.65
Debt ≤ 1 year
€98,822▲
2023 · €94,718
Debt > 1 year
€4,977▼
2023 · €13,461
Income taxes
€18,405▼
2023 · €29,205
Staff costs
€43,592▲
2023 · €42,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €39,941 | €42,057 | €42,000 | €43,592 | ▲ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,683 | €5,901 | €9,996 | €9,064 | €8,036 | ▼ 11.3% |
| Other operating charges640/8 | - | €3,907 | €2,009 | €1,749 | €1,049 | ▼ 40.0% |
| Gross operating margin9900 | €160,982 | €107,201 | €105,572 | €151,985 | €115,407 | ▼ 24.1% |
| Operating profit (loss)9901 | €119,388 | €57,452 | €51,510 | €99,172 | €62,729 | ▼ 36.7% |
| Financial income75/76B | - | €661 | €455 | €5 | €51 | ▲ 936% |
| Recurring financial income75 | €10 | €661 | €455 | €5 | €51 | ▲ 936% |
| Financial charges65/66B | - | €1,650 | €994 | €616 | €2,659 | ▲ 332% |
| Recurring financial charges65 | €1,275 | €1,650 | €994 | €616 | €2,659 | ▲ 332% |
| Profit (loss) for the period before taxes9903 | €118,123 | €56,464 | €50,972 | €98,561 | €60,121 | ▼ 39.0% |
| Income taxes67/77 | €34,284 | €16,603 | €15,793 | €29,205 | €18,405 | ▼ 37.0% |
| Profit (loss) for the period9904 | €83,839 | €39,860 | €35,179 | €69,356 | €41,716 | ▼ 39.9% |
| Profit (loss) for the period to be appropriated9905 | €83,839 | €39,860 | €35,179 | €69,356 | €41,716 | ▼ 39.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €261,941 | €348,988 | €313,583 | €391,471 | €427,707 | ▲ 9.3% |
| Fixed assets21/28 | €20,786 | €39,228 | €29,232 | €20,168 | €12,132 | ▼ 39.8% |
| Intangible fixed assets21 | - | - | - | €0 | - | - |
| Tangible fixed assets22/27 | €20,786 | €39,228 | €29,232 | €20,168 | €12,132 | ▼ 39.8% |
| Furniture and vehicles24 | - | €39,228 | €29,232 | €20,168 | €12,132 | ▼ 39.8% |
| Current assets29/58 | €241,155 | €309,760 | €284,351 | €371,303 | €415,575 | ▲ 11.9% |
| Amounts receivable within one year40/41 | €25,625 | €21,312 | €15,732 | €46,857 | €52,149 | ▲ 11.3% |
| Trade receivables40 | - | €21,312 | €14,076 | €46,828 | €52,118 | ▲ 11.3% |
| Other amounts receivable41 | - | - | €1,655 | €29 | €31 | ▲ 4.0% |
| Cash at bank and in hand54/58 | €215,380 | €287,118 | €266,295 | €324,296 | €363,277 | ▲ 12.0% |
| Deferred charges and accrued income490/1 | - | €1,330 | €2,325 | €150 | €150 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €261,941 | €348,988 | €313,583 | €391,471 | €427,707 | ▲ 9.3% |
| Equity10/15 | €189,898 | €229,758 | €231,936 | €283,292 | €323,908 | ▲ 14.3% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €136,960 | €176,460 | €178,460 | €229,460 | €270,060 | ▲ 17.7% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €174,600 | €176,600 | €229,460 | €270,060 | ▲ 17.7% |
| Profit (loss) carried forward14 | €46,738 | €47,098 | €47,276 | €47,632 | €47,648 | = |
| Amounts payable17/49 | €72,044 | €119,230 | €81,647 | €108,178 | €103,799 | ▼ 4.0% |
| Amounts payable after more than one year17 | €12,571 | €30,250 | €21,885 | €13,461 | €4,977 | ▼ 63.0% |
| Financial debts170/4 | - | €30,250 | €21,885 | €13,461 | €4,977 | ▼ 63.0% |
| Amounts payable within one year42/48 | €59,473 | €88,980 | €59,762 | €94,718 | €98,822 | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | €9,298 | €8,365 | €8,424 | €8,484 | ▲ 0.7% |
| Trade debts44 | €480 | €13,310 | €2,517 | €18,918 | €1,419 | ▼ 92.5% |
| Suppliers440/4 | - | €13,310 | €2,517 | €18,918 | €1,419 | ▼ 92.5% |
| Taxes, remuneration and social security45 | - | €27,184 | €8,132 | €29,292 | €25,787 | ▼ 12.0% |
| Taxes450/3 | - | €22,247 | €3,071 | €19,711 | €19,488 | ▼ 1.1% |
| Remuneration and social security454/9 | - | €4,937 | €5,061 | €9,581 | €6,299 | ▼ 34.3% |
| Other amounts payable47/48 | - | €39,187 | €40,747 | €38,084 | €63,132 | ▲ 65.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,839 | €39,860 | €35,179 | €69,356 | €41,716 | ▼ 39.9% |
| + Depreciation and write-downs630 | €9,683 | €5,901 | €9,996 | €9,064 | €8,036 | ▼ 11.3% |
| Operating cash flow (approximation) | €93,522 | €45,761 | €45,175 | €78,420 | €49,752 | ▼ 36.6% |
| Investment in fixed assets (approximation) | - | -€24,342 | €0 | €0 | €0 | - |
| Change in cash | - | €71,738 | -€20,823 | €58,001 | €38,981 | ▼ 32.8% |
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
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €229,758 ▲21%
4 profitable years in a row build equity to €229,758.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Highest result since 2018net €83,839 ▲7,008%
Operating result €119,388, net result €83,839, both a record.
31-12
Financial
Equity above €150,000Eq €189,898 ▲79%
3 profitable years in a row build equity to €189,898.
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
31-12
Financial
Weakest financial yearnet €1,179 ▼93.6%
Net result drops to €1,179, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 13 days late
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Huy · 1 establishment unit since 2011
Ground area
71 m²
Building footprint
67 m²
Volume, LiDAR
581 m³
Parcel 61031B0445/00B000, Wallonia · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
AVOCAT PIERRE MACHIELS
since 20112.194.995.281
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61031B0445/00B000 | Wallonia | 71 m² | 1 · 67 m² | 10.6 m · 3 fl. |
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.
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cabinet d'avocat D'HOTEL Gaël
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Advocatenkantoor Vangeel Christophe
BE 0824.743.983
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CS
BE 0886.568.320
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,058. 6,630 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0832804485
Also
9925:BE0832804485
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.