ALTERATIO

Active Private limited companyfounded 2020active for 6 yearsRue du Panama 13, 6250 Aiseau-PreslesKBO/BCE: BE 0745.680.669

ALTERATIO

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Overview

Lifetime

6 annual accounts with figures on one time axis

Compare with

Gross marginpeak €88,466 (2025)

€88,466▲ 81.5%

Resultpeak €69,087 (2025)

€69,087▲ 161%

Equitypeak €139,084 (2025)

€139,084▲ 26.4%

Debts

€87,650▲ 137%

Board2 names since 2020

1 directorKARA OMER FARUK

Documentsfilings and deeds

29-07-20262 days before the deadline

2025abbreviated format

Gross margin from €48,740 to €88,466Result from €26,468 to €69,087Dividend €40,000Equity from €109,997 to €139,084Debts from €36,907 to €87,650Cash from €81,513 to €120,827

Key points

from the 2025 annual accounts

Equity

€139,084 ▲ 26.4%

ALTERATIO paid out €40,000 in dividends. That is 58% of the 2025 profit.

Turnover

≈ €210,000 estimated

The accounts state no turnover.

Debts

€87,650 ▲ 137%

Other debts

+46,008

Taxes and wages

+7,616

The rest

-2,882

Debts rose by €50,743 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.

Liquidity

2.57 was 3.85 in 2024

Short-term debts rose from €36,868 to €87,650.

Filings

6 annual accounts 1 late

The 2023 accounts came 28 days late. The other five were filed on time.

Board

1 joined

New director. Latest change 10-09-2026 · 2 in office.

Checked score

Excellent

Financially stronger than 68% of micro companies in computer programming and consultancy (NACE 62)

Probability in this band: under 0.55%

Bankruptcy probability within 12 months < 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 25,917 companies (NACE 62, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025highest value 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025lowest value 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026 10-2026: < 0.1%● unchanged vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026

Financial strength

Strong

Solvency

86-14equity 61.3% of total assets

Liquidity

82-9short-term debt 38.7% · cash 53.3%

Profitability

100+9return on assets 30.5%

Score breakdown

lowers risk

Liquidity: current ratio 2.57, cash €120,827

Sector: Computer programming, consultancy and related activities (NACE 62)

Size: total assets €226,734

Equity €139,084 (61.3% of total assets)

Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 53% of them on solvency, 66% on liquidity, 82% on profitability and 70% on growth.

The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 26,972 companies had the same profile as ALTERATIO has now. Each dot stands for 68 companies, two years later.

94.9%

were still trading

3.4%

stopped another way

1.6%

went bankrupt

Micro
5 to 10 years old
solvency 30% or more
a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of ALTERATIO itself is lower: < 0.1% within 12 months. It rests on far more data about ALTERATIO than the profile alone.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%	0.9%
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 26,972 companies, not a prediction for ALTERATIO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €13,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 2.57 (3.85 in 2024), above the usual 1.5. Short-term debt is 38.7% and cash 53.3% of total assets. 38.7% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

5 signals, none raises the risk

Five signals.

lowers riskneutral

Liquidity: current ratio 2.57, cash €120,827

NBB · annual accounts

Sector: Computer programming, consultancy and related activities (NACE 62)

KBO

Size: total assets €226,734

Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Equity €139,084 (61.3% of total assets)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

2 days early

2024

7 days early

2023

28 days late

2022

on the day

2021

18 days early

2020

18 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 6 accounts on average 3 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 July (4 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

05-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Board and ownership

KARA OMER FARUK

Director, since 01-07-2020

Kamil KARA

Director

Board & ownership

Recent changes

18-09-2026

Appointment: Kamil KARA (director) General meeting of 09-09-2026 · Gazette deed

30-04-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0745680669

01-04-2020

First establishment Rue du Panama 13, Aiseau-Presles

27-03-2020

Incorporation published on 31-03-2020 · Gazette deed

All 13 events

Comparable companies

same main activity, similar in size and age

Company	Total assets	Gross margin	Solvency	Staff
ALTERATIO Aiseau-Presles	€226,734	€88,466	61.3%	-
EVOLUTION SOFTWARE CONSULTING Aiseau-Presles	€241,218	€92,342	2.1%	-
DIGITALIFE Brunehaut	€234,533	€87,854	23.6%	-
MANINI SOLUTIONS Braine-le-Comte	€212,627	€91,140	15.6%	-
TILLEUL.BE Chièvres	€189,830	€94,984	71.3%	-
M DO-IT Fosses-la-Ville	€222,308	€92,028	48.0%	-
RC-Technologies Hove	€230,977	€92,698	20.0%	-

These companies have the same main activity as ALTERATIO: computer programming (NACE 62100). They are comparable in size and age: total assets between €190,000 and €241,000, founded between 2019 and 2020.

Official details

Source: KBO

Status: Active since 27-03-2020Normal situation
Activity: Computer programmingNACE 62100and 4 others
Establishment unit: 2.300.887.9066250 Aiseau-Presles, since 01-04-2020
Financial year end: 31 December
Peppol: Reachable since 30-04-2025

Company details

Annual accounts 2025

Gross margin: €88,466▲ 81.5%
Profit: €69,087▲ 161%
Equity: €139,084▲ 26.4%
Total assets: €226,734▲ 54.3%
Filing: Filed on 29-07-2026, 2 days before the end of the filing period

Financials

Insights on ALTERATIO

ALTERATIO files the abbreviated format. That format states no turnover. The gross margin rose from €26,651 in 2020 to €88,466 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 29-07-2026, 2 days before the deadline

Gross margin

€88,466

▲ 81.5%

Operating result

€82,300

▲ 118%

EBITDA

€86,370

▲ 83.3%

Cash flow

€73,157

▲ 104%

Solvency

61.3%

▼ 13.5 percentage points

Current ratio

2.57

▼ 1.27

Money flows

no detail for 2025

Balance sheet

balance sheet total €226,734 on 31-12-2025

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Position in the sector

Compare with sector

Solvency61.3%

Higher than 63% of 3,396 companies in 2025.

Current ratio2.57

Higher than 62% of 3,258 companies in 2025.

Return on assets30.5%

Higher than 84% of 3,306 companies in 2025.

ALTERATIO Middle half of the sector 80% of the sector Abbreviated accounts in computer programming and consultancy (NACE 62)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020
Balance sheet: assets
Total assets`20/58`	226,734	146,904	165,879	111,640	90,255	45,574
Fixed assets`21/28`	1,045	5,115	12,866	4,546	3,211	4,649
Tangible fixed assets`22/27`	1,045	5,115	12,866	4,546	3,211	4,649
Furniture and vehicles`24`	1,045	5,115	12,866	4,546	3,211	4,649
Current assets`29/58`	225,689	141,789	153,013	107,094	87,044	40,924
Amounts receivable within one year`40/41`	104,862	60,276	75,977	57,527	13,165	864
Trade receivables`40`	65,862	28,941	55,283	49,102	13,165	635
Other amounts receivable`41`	39,000	31,335	20,694	8,425	-	229
Cash at bank and in hand`54/58`	120,827	81,513	77,036	49,567	73,879	40,061
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	226,734	146,904	165,879	111,640	90,255	45,574
Equity`10/15`	139,084	109,997	103,529	92,406	49,636	30,817
Contributions`10/11`	10,000	10,000	10,000	10,000	10,000	10,000
Capital`10`	10,000	10,000	10,000	10,000	10,000	-
Issued capital`100`	10,000	10,000	10,000	10,000	10,000	10,000
Profit (loss) carried forward`14`	129,084	99,997	93,529	82,406	39,636	20,817
Amounts payable`17/49`	87,650	36,907	62,351	19,235	40,619	14,757
Amounts payable within one year`42/48`	87,650	36,868	62,351	19,235	40,619	14,757
Trade debts`44`	5,918	8,759	40,367	3,571	14,347	1,301
Suppliers`440/4`	5,918	8,759	40,367	3,571	14,347	1,301
Taxes, remuneration and social security`45`	15,725	8,108	1,984	14,577	26,272	13,456
Taxes`450/3`	15,725	8,108	-	-	12,785	4,638
Remuneration and social security`454/9`	-	-	1,984	14,577	13,487	8,818
Other amounts payable`47/48`	66,008	20,000	20,000	1,086	-	-
Accrued charges and deferred income`492/3`	-	40	-	-	-	-
Income statement
Turnover`70`	-	-	-	-	189,655	72,393
Gross operating margin`9900`	88,466	48,740	49,269	65,011	44,960	26,651
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	144,695	45,742
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	4,070	9,387	6,680	3,475	2,829	1,546
Other operating charges`640/8`	2,096	1,621	2,415	2,269	9,496	668
Operating profit (loss)`9901`	82,300	37,733	40,174	59,267	32,635	24,437
Financial income`75/76B`	45	42	2	-	7	-
Recurring financial income`75`	45	42	2	-	-	-
Non-recurring financial income`76B`	-	-	-	-	7	-
Financial charges`65/66B`	138	22	0	12,667	9,652	3,620
Recurring financial charges`65`	138	22	0	12,667	9,652	3,620
Profit (loss) for the period before taxes`9903`	82,206	37,752	40,175	46,600	22,990	20,817
Income taxes`67/77`	13,119	11,284	9,052	3,830	4,170	-
Profit (loss) for the period`9904`	69,087	26,468	31,123	42,770	18,819	20,817
Profit (loss) for the period to be appropriated`9905`	69,087	26,468	31,123	42,770	18,819	20,817
Appropriation of the result
Profit (loss) to be appropriated`9906`	169,084	119,997	113,529	82,406	39,636	20,817
Profit (loss) brought forward from the previous period`14P`	99,997	93,529	82,406	39,636	20,817	-
Profit to be distributed`694/7`	40,000	20,000	20,000	-	-	-
Return on contributions (dividend)`694`	40,000	20,000	20,000	-	-	-
Social balance sheet
Hours worked`1013`	-	-	0	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 29-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	29-07-2026	2026-00345786	PDF
31-12-2024	micro format	24-07-2025	2025-00312056	PDF
31-12-2023	micro format	28-08-2024	2024-00382018	PDF
31-12-2022	micro format	31-07-2023	2023-00304114	PDF
31-12-2021	micro format	13-07-2022	2022-20186851	PDF
31-12-2020	micro format	13-07-2021	2021-35000220	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2025	2024	2023	2022	2021	2020
EBITDA	86,370	47,119	46,854	62,742	35,464	25,983
Cash flow	73,157	35,855	37,803	46,245	21,648	22,362
Investment in fixed assets (approximation)	0	1,636	15,000	4,810	1,391	6,195
Change in cash	39,314	4,477	27,469	-24,313	33,819	-
Working capital	138,039	104,921	90,662	87,859	46,425	26,167
EBIT margin	-	-	-	-	17.2%	33.8%
Solvency	61.3%	74.9%	62.4%	82.8%	55.0%	67.6%
Current ratio	2.57	3.85	2.45	5.57	2.14	2.77
Debt to equity	0.63	0.34	0.60	0.21	0.82	0.48
ROE	49.7%	24.1%	30.1%	46.3%	37.9%	67.6%
ROA	30.5%	18.0%	18.8%	38.3%	20.9%	45.7%
Interest coverage	over 100	over 100	over 100	4.95	3.67	-
Customer credit	-	-	-	-	25 days	3 days
Supplier credit	-	-	-	-	36 days	10 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	31-12-2023
Employees at the balance-sheet date	0
full-time	0
part-time	0

Source: social balance sheet in the 2023 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	€1,636	€15,000	€4,810	€1,391
Depreciation and write-downs of the year	€4,070	€9,387	€6,680	€3,475	€2,829

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on ALTERATIO

The operating result for 2025 is 118% higher than in 2024 and the highest since 2020. It is a recovery after the fall in 2024.

Debt's share of the balance-sheet total rises from 25.1% to 38.7%. Equity and debt are higher.

Board & ownership

Board

2 directors, last change in September 2026

KARA OMER FARUK

Director

since 01-07-2020

listed in the 2025 annual accounts, filed on 29-07-2026

Kamil KARA

Director (not named in the articles)

appointed by deed of 18-09-2026 term without a fixed end

also on the board of 1 other company

Signing authority: Each director alone
deed of 18-09-2026

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

KARA OMER FARUK
Director

Kamil KARA
Director (not named in the articles)

Board

Mandates as a list

KARA OMER FARUK
- Director, from 01-07-2020 to date
Kamil KARA
- Director (not named in the articles), appointed by deed of 18-09-2026, still in office

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution: €10,000
Source: 2025 annual accounts

Network & group

No group

ALTERATIO has no parent and no holdings in its annual accounts.

Connections & network

1 connected company

Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

Dr Kara Kâmil - Médecine Générale

via Kamil KARA · Director (not named in the articles) · deed of 07-01-2022

Founded in 2022 · total assets €118,443 (2025)

→

Timeline

13 events since 2020

Board

Filings

Financial

Establishments

2020202220242026

Deadline for the 2026 accounts: 31-07-2027

2026

18-09-2026

Appointment: Kamil KARA (director)General meeting of 09-09-20262 points ▸

General meeting, 09-09-2026
Director appointment, Kamil KARA (director (not named in the articles))

Open the deed in the Belgian Official Gazette

29-07-2026

Annual accounts 2025 filed NBBabbreviated format · 2 days before the deadline

2025

31-12-2025

Highest result from 2020 to 2025 net €69,087 ▲161% The operating result of €82,300 and the net result of €69,087 are both a record.

24-07-2025

Annual accounts 2024 filed PDFmicro format · 7 days before the deadline

30-04-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0745680669

2024

28-08-2024

Annual accounts 2023 filed PDFmicro format · 28 days late

2023

31-12-2023

Equity above €100,000 equity €103,529 ▲12% With a profit in every financial year since 2020, equity grows to €103,529.

31-07-2023

Annual accounts 2022 filed PDFmicro format · on the deadline day

2022

31-12-2022

Liquidity more than doubled current ratio 5.57 The current ratio rises from 2.14 to 5.57. Short-term debt falls from €40,619 to €19,235.

13-07-2022

Annual accounts 2021 filed PDFmicro format · 18 days before the deadline

2021

13-07-2021

Annual accounts 2020 filed PDFmicro format · 18 days before the deadline

2020

01-04-2020

First establishment Rue du Panama 13, Aiseau-Presles

27-03-2020

Incorporation PDFpublished on 31-03-2020

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

ALTERATIO was incorporated on 27 March 2020 as a private limited company.¹ Total assets rose from €45,574 in 2020 to €226,734 in 2025.²

Company details

Identity

Enterprise number: 0745.680.669
VAT number: BE 0745.680.669
Peppol ID: 0208:0745680669
Legal form: Private limited company
Status: Active, normal situation
Founded: 27-03-2020
Financial year: ends on 31 December
Peppol: Reachable since 30-04-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name: ALTERATIO in French
Entity type: Legal entity

Activities

NACEBEL 2025

62100 Computer programming main activity

62200 Computer consultancy and computer facilities management

82990 Other business support services

85592 Vocational training

85599 Other education

Codes under NACEBEL 2008

62010 Computer programming, consultancy and related activities main activity

62020 IT consultancy

62030 Computer programming, consultancy and related activities

82990 Other business support services

85592 Vocational training

85599 Other education

Registered office and establishments

1 establishment

Establishment	Since	Unit number
Rue du Panama 13 registered office 6250 Aiseau-Presles	01-04-2020	2.300.887.906

Buildings and parcels at the address

Ground area: 2,076 m²
Buildings: 147 m²
Volume, LiDAR: 815 m³
Tallest building: 7.7 m

Buildings to scale, each on its own parcel

registered office establishment The establishment unit on the map

Parcels

Cadastral parcel	Area	Buildings	Height / floors
52002A0024/00H012	2,076 m²	1 · 147 m²	7.7 m · 2

Overview

Lifetime

Key points

Equity

Turnover

Debts

Liquidity

Filings

Board

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on ALTERATIO

Financials

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency61.3%

Current ratio2.57

Return on assets30.5%

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on ALTERATIO

Board & ownership

Board

Mandates through the years

Control

Capital

Network & group

No group

Connections & network

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Location

Parcels