Equity
€20,460 from €218,652 in 2020
Equity fell by 91% in 5 years.
ALTFIVE
Lifetime
8 annual accounts with figures on one time axispeak €166,867 (2025)
€166,867▲ 4.9%
peak €122,005 (2025)
€122,005▲ 4.9%
peak €218,652 (2020)
€20,460unchanged
€135,652▲ 2.0%
Board1 name since 2018
1 directorThomas Frezel
Documentsfilings and deeds
26-06-202635 days before the deadline
2025micro format
Dividend €122,005
Key points
from the 2025 annual accountsDebts
€135,652 87% of the balance sheet
Suppliers 0%Taxes and wages 9%Other 90%
Position in the sector
€122,005
Higher net result than 95% of companies in computer programming and consultancy. Sector median €28,568 · 21,212 companies.
Checked score
93
Excellent
Financially stronger than 44% 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 25,932 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 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
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 05-2026lowest value
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: < 0.1%▼ -0.1 percentage points vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Equity €20,460 (13.1% of total assets)
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Liquidity: current ratio 1.07, cash €142,023
Size: total assets €156,112
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 18% of them on solvency, 33% on liquidity, 82% on profitability and 41% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 6,713 companies had the same profile as ALTFIVE has now. Each dot stands for 17 companies, two years later.
95.8%
were still trading
2.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ALTFIVE itself is lower: < 0.1% within 12 months. It rests on far more data about ALTFIVE than the profile alone.
Test of the method
The method was tested on the 497,447 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.
| 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 6,713 companies, not a prediction for ALTFIVE. 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 €1,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.07 (1.06 in 2024), below the usual 1.5. Short-term debt is 86.9% and cash 91% of total assets. 86.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 21206 sector peers (2025).
NBB · sector comparisonPosition among 21206 sector peers
Solvency
better than 16%
← weakest
strongest →
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 26-06-2026, 35 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
35 days early
2024
77 days early
2023
100 days early
2022
25 days early
2021
138 days early
2020
31 days early
2019
41 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 52 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)
neutral · 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 15 May (4 of the last 5 accounts filed within 52 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0686967262
Change of role: Thomas Frezel, from manager to director
Director discharge: Thomas Frezel · Gazette deed
Incorporation
published on 04-01-2018 · Gazette deed
First establishment
ALFTIVE, Boerenstraat 57, Etterbeek
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ALTFIVE Etterbeek | €156,112 | €166,867 | 13.1% | - |
| FIT 4 IT Woluwe-Saint-Lambert | €163,113 | €168,947 | 11.5% | - |
| Sigma Cubed Watermael-Boitsfort | €171,393 | €191,236 | 1.2% | - |
| DevNet Consult Koekelberg | €144,434 | €191,935 | 15.0% | - |
| BEFORMATIC Vilvoorde | €176,847 | €148,636 | 1.1% | - |
| HYMS Bertem | €158,357 | €143,806 | 11.7% | - |
| BITTRACK Lummen | €133,398 | €141,771 | 90.4% | - |
These companies have the same main activity as ALTFIVE: computer programming (NACE 62100). They are comparable in size and age: total assets between €133,000 and €177,000, founded between 2017 and 2018.
Official details
Source: KBO- Status
- Active since 02-01-2018Normal situation
- Activity
- Computer programmingNACE 62100
- Establishment unit
- 2.271.549.1661040 Etterbeek, since 02-01-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 18-11-2025
Annual accounts 2025
- ≈ €240,000estimated
- €156,112▲ 1.8%
- Filing
- Filed on 26-06-2026, 35 days before the end of the filing period
Insights on ALTFIVE
ALTFIVE files the micro format. That format states no turnover. The gross margin rose from €105,826 in 2018 to €166,867 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ALTFIVE
- What is the company number of ALTFIVE?
- The company number of ALTFIVE is 0686.967.262. The VAT number is the same number with BE in front: BE 0686.967.262.
- Where is ALTFIVE based?
- The registered office is at Boerenstraat 57, 1040 Etterbeek.Company details
- What does ALTFIVE do?
- According to the KBO register, the main activity is computer programming (NACE 62100).
- What is the legal form of ALTFIVE?
- ALTFIVE is a private limited company (BV).
- When was ALTFIVE founded?
- ALTFIVE was founded on 02-01-2018.
- Is ALTFIVE still active?
- Yes, ALTFIVE is an active enterprise in the KBO register.
- What is the turnover of ALTFIVE?
- The turnover in financial year 2025 is ≈ €240,000. This figure is estimated from the gross margin of €166,867 and 32 comparable companies (NACE 62100). It probably lies between €210,000 and €350,000.Financials
- Is ALTFIVE profitable?
- In financial year 2025, ALTFIVE made a profit of €122,005.
- Where can I find the annual accounts of ALTFIVE?
- ALTFIVE filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ALTFIVE due?
- ALTFIVE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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