Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
The accounts state no turnover.
Of this, €10,203 falls due within a year.
Six of the last ten came late. The 2019 accounts came latest: 67 days after the end of the period.
Less equity than 90% of companies in head offices and management consultancy. Sector median €323,509 · 10,866 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 8% of them on solvency, 49% on liquidity, 30% on profitability and 1% 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).
In July 2024, 2,333 companies had the same profile as Anabel Energy has now. Each dot stands for 6 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Anabel Energy itself is lower: 0.3% within 12 months. It rests on far more data about Anabel Energy than the profile alone.
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 2,333 companies, not a prediction for Anabel Energy. 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.
Liquidity is ample, with a current ratio of 2.99 (2.93 in 2024), above the usual 1.5. Short-term debt is 6.4% and cash 6.2% of total assets. However, equity is negative.
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.
The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Anabel Energy Ottignies-Louvain-la-Neuve | €160,098 | €7,506 | -1.8% | - |
| ENERES Ottignies-Louvain-la-Neuve | €168,194 | €8,821 | 38.0% | - |
| Steertone Solutions Braine-l'Alleud | €171,296 | €8,970 | 16.0% | - |
| VEDAV Knokke-Heist | €176,196 | €7,724 | 28.6% | - |
| Verto-Consulting Destelbergen | €171,841 | €8,004 | 62.9% | - |
| EJ@work Ghent | €147,829 | €8,062 | 30.8% | - |
| FIRST CONSULTING AND MANAGEMENT Chimay | €166,057 | €8,241 | 65.8% | - |
These companies have the same main activity as Anabel Energy: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €148,000 and €176,000, founded between 2014 and 2016.
Anabel Energy files the abbreviated format. That format states no turnover. The gross margin rose from -€45,100 in 2015 to €7,506 in 2025.
Missing Link Group holds 50.29% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €30,000. Estimated: probably between €13,000 and €75,000.
Higher than 9% of 10,856 companies in 2025.
Higher than 68% of 10,478 companies in 2025.
Higher than 16% of 10,725 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
160,098 | 163,759 | 291,612 | 302,226 | 277,956 | 281,511 | 244,754 | 200,610 | 178,352 | 97,546 | 24,975 | |
21/28 |
129,590 | 139,362 | 165,651 | 173,168 | 189,686 | 186,061 | 151,179 | 87,948 | 216 | 432 | - | |
21 |
120,590 | 130,362 | 156,651 | 173,168 | 189,686 | 186,061 | 151,179 | 87,948 | - | - | - | |
22/27 |
- | - | - | - | - | - | - | - | 216 | 432 | - | |
23 |
- | - | - | - | - | - | - | - | 216 | 432 | - | |
28 |
9,000 | 9,000 | 9,000 | - | - | - | - | - | - | - | - | |
29/58 |
30,509 | 24,397 | 125,961 | 129,057 | 88,271 | 95,450 | 93,575 | 112,662 | 178,136 | 97,114 | 24,975 | |
40/41 |
18,852 | 8,576 | 62,385 | 66,039 | 1,289 | 2,348 | 3,770 | 18,665 | 9,236 | 10,588 | 127 | |
40 |
18,852 | 18 | 55,708 | 63,074 | 1,289 | 143 | 3,500 | 5,193 | - | 7,442 | - | |
41 |
- | 8,558 | 6,677 | 2,965 | - | 2,205 | 270 | 13,472 | 9,236 | 3,147 | 127 | |
54/58 |
9,948 | 13,713 | 63,577 | 61,176 | 85,276 | 91,390 | 89,806 | 93,997 | 168,900 | 86,526 | 24,848 | |
490/1 |
1,709 | 2,109 | - | 1,842 | 1,706 | 1,712 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
160,098 | 163,759 | 291,612 | 302,226 | 277,956 | 281,511 | 244,754 | 200,610 | 178,352 | 97,546 | 24,975 | |
10/15 |
-2,914 | -613 | 64,738 | 65,174 | 58,839 | 50,241 | 37,091 | 41,908 | 57,732 | 93,213 | -5,650 | |
10/11 |
140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 40,000 | |
100 |
- | - | - | - | - | - | 140,000 | 140,000 | 140,000 | 140,000 | 40,000 | |
14 |
-142,914 | -140,613 | -75,263 | -74,826 | -81,161 | -89,759 | -102,909 | -98,092 | -82,268 | -46,787 | -45,650 | |
17/49 |
163,012 | 164,372 | 226,875 | 237,052 | 219,118 | 231,270 | 207,663 | 158,702 | 120,620 | 4,333 | 30,625 | |
17 |
152,809 | 156,047 | 159,258 | 213,587 | 192,833 | 192,833 | 192,833 | 158,310 | 118,659 | - | - | |
170/4 |
152,809 | 156,047 | 159,258 | 213,587 | 192,833 | 192,833 | 192,833 | 158,310 | 118,659 | - | - | |
42/48 |
10,203 | 8,325 | 67,617 | 23,465 | 26,285 | 38,437 | 14,830 | 393 | 1,961 | 4,333 | 30,625 | |
44 |
6,736 | 8,218 | 53,580 | 21,553 | 22,462 | 36,253 | 10,469 | 131 | 1,699 | 4,071 | 363 | |
440/4 |
6,736 | 8,218 | 53,580 | 21,553 | 22,462 | 36,253 | 10,469 | 131 | 1,699 | 4,071 | 363 | |
45 |
1,966 | - | 13,898 | - | 2,104 | 882 | 4,120 | - | - | - | - | |
450/3 |
1,966 | - | 13,898 | - | 2,104 | 882 | 4,120 | - | - | - | - | |
47/48 |
1,500 | 107 | 139 | 1,912 | 1,719 | 1,302 | 242 | 262 | 262 | 262 | 30,262 | |
| Income statement | ||||||||||||
76A |
- | - | - | - | - | - | - | - | - | 10,000 | - | |
9900 |
7,506 | -39,015 | 16,277 | 22,906 | 33,550 | 33,843 | 13,133 | -5,798 | -35,178 | -10,599 | -45,100 | |
630 |
9,772 | 26,289 | 16,517 | 16,517 | 24,876 | 20,677 | 17,883 | 9,988 | 216 | 216 | - | |
640/8 |
- | - | 150 | - | - | - | - | - | - | - | - | |
9901 |
-2,266 | -65,304 | -390 | 6,388 | 8,674 | 13,167 | -4,751 | -15,786 | -35,394 | -10,815 | -45,100 | |
75/76B |
9 | 0 | 2 | - | 6 | 28 | - | - | - | 10,000 | - | |
75 |
9 | 0 | 2 | - | 6 | 28 | - | - | - | - | - | |
76B |
- | - | - | - | - | - | - | - | - | 10,000 | - | |
65/66B |
44 | 47 | 48 | 53 | 83 | 44 | 66 | 38 | 87 | 321 | 550 | |
65 |
44 | 47 | 48 | 53 | 83 | 44 | 66 | 38 | 87 | 321 | 550 | |
9903 |
-2,300 | -65,351 | -436 | 6,335 | 8,597 | 13,151 | -4,817 | -15,824 | -35,481 | -1,136 | -45,650 | |
9904 |
-2,300 | -65,351 | -436 | 6,335 | 8,597 | 13,151 | -4,817 | -15,824 | -35,481 | -1,136 | -45,650 | |
9905 |
-2,300 | -65,351 | -436 | 6,335 | 8,597 | 13,151 | -4,817 | -15,824 | -35,481 | -1,136 | -45,650 | |
| Appropriation of the result | ||||||||||||
9906 |
-142,914 | -140,613 | -75,263 | -74,826 | -81,161 | -89,759 | -102,909 | -98,092 | -82,268 | -46,787 | -45,650 | |
14P |
-140,613 | -75,263 | -74,826 | -81,161 | -89,759 | - | - | - | - | - | - | |
| Document | ||||||||||||
The notes to these accounts have 7 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 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00488898.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00488898 | |
| 31-12-2024 | full format | 28-08-2025 | 2025-00424155 | |
| 31-12-2023 | full format | 05-08-2024 | 2024-00338089 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00152375 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20140201 | |
| 31-12-2020 | full format | 05-07-2021 | 2021-31300280 | |
| 31-12-2019 | full format | 06-10-2020 | 2020-59100313 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-61300274 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-60800235 | |
| 31-12-2016 | full format | 04-07-2017 | 2017-27000001 | |
| 31-12-2015 | full format | 29-08-2016 | 2016-52100173 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,506 | -39,015 | 16,127 | 22,906 | 33,550 | 33,843 | 13,133 | -5,798 | -35,178 | -10,599 | - | ||
| 7,472 | -39,062 | 16,081 | 22,852 | 33,473 | 33,827 | 13,066 | -5,836 | -35,265 | -921 | - | ||
| 0 | 0 | 9,000 | 0 | 28,500 | 55,559 | 81,114 | 97,720 | 0 | 647 | - | ||
| -3,765 | -49,864 | 2,401 | -24,100 | -6,114 | 1,585 | -4,191 | -74,903 | 82,374 | 61,678 | - | ||
| 20,306 | 16,072 | 58,345 | 105,592 | 61,986 | 57,013 | 78,745 | 112,270 | 176,176 | 92,782 | -5,650 | ||
| -1.8% | -0.4% | 22.2% | 21.6% | 21.2% | 17.8% | 15.2% | 20.9% | 32.4% | 95.6% | -22.6% | ||
| 2.99 | 2.93 | 1.86 | 5.50 | 3.36 | 2.48 | 6.31 | - | 90.85 | 22.41 | 0.82 | ||
| - | - | 3.50 | 3.64 | 3.72 | 4.60 | 5.60 | 3.79 | 2.09 | 0.05 | - | ||
| - | - | -0.7% | 9.7% | 14.6% | 26.2% | -13.0% | -37.8% | -61.5% | -1.2% | - | ||
| -1.4% | -39.9% | -0.1% | 2.1% | 3.1% | 4.7% | -2.0% | -7.9% | -19.9% | -1.2% | -182.8% | ||
| over 100 | -833.29 | over 100 | over 100 | over 100 | - | - | - | - | - | - |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Intangible fixed assets | - | - | - | - | €28,500 |
| Financial fixed assets | - | - | €9,000 | - | - |
| €9,772 | €26,289 | €16,517 | €16,517 | €24,876 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €2,266, smaller than the loss of €65,304 in 2024.
Equity is negative. Debt (€163,012) exceeds the balance-sheet total (€160,098).
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of Missing Link Group. Every holding stands with its own latest accounts.
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue du Rondia 8 registered office 1348 Ottignies-Louvain-la-Neuve | 12-02-2015 | 2.239.682.092 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25386B0090/00G000 | 274 m² | 1 · 92 m² | 9.0 m · 2 |
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