AS2E
ActiveSummary
AS2E has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €282,417 and a net result of €50,935. Equity is growing by ~23.8% per year across the filed fiscal years. Its solvency ranks better than 63% of 37951 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability84▲+12
Solvency95▲+10
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days only on tighter terms
Liquidity ample (current ratio 3.31 against 2.51 in 2023; short-term debt: 30.2% and cash: 0.4% of total assets), and 30.2% 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
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
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-11-2025, 118 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
118 d late
2023
434 d late
2022
142 d late
2021
3 d early
2020
53 d late
2019
67 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 135 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
€282,417▲ 22.0%
2023 · €231,482
Total assets
€404,481▲ 5.3%
2023 · €384,041
Net result
€50,935▲ 95.3%
2023 · €26,075
Working capital
€281,389▲ 22.5%
2023 · €229,772
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
Line20202021202220232024
Operating result€83,554▲ 36.1%€75,038▼ 10.2%€54,059▼ 28.0%€24,368▼ 54.9%€49,033▲ 101%
Net result€62,631above the sector's middle half▲ 30.0%€47,858within the sector's middle half▼ 23.6%€40,441within the sector's middle half▼ 15.5%€26,075within the sector's middle half▼ 35.5%€50,935within the sector's middle half▲ 95.3%
Equity€117,108within the sector's middle half▲ 115%€164,966within the sector's middle half▲ 40.9%€205,407within the sector's middle half▲ 24.5%€231,482within the sector's middle half▲ 12.7%€282,417above the sector's middle half▲ 22.0%
Total assets€183,293within the sector's middle half▲ 102%€263,844within the sector's middle half▲ 43.9%€337,511within the sector's middle half▲ 27.9%€384,041within the sector's middle half▲ 13.8%€404,481within the sector's middle half▲ 5.3%
Debt€66,185▲ 81.8%€98,878▲ 49.4%€132,104▲ 33.6%€152,559▲ 15.5%€122,063▼ 20.0%
Working capital€116,099within the sector's middle half▲ 122%€164,777above the sector's middle half▲ 41.9%€204,278above the sector's middle half▲ 24.0%€229,772above the sector's middle half▲ 12.5%€281,389above the sector's middle half▲ 22.5%
Solvency63.9%within the sector's middle half▲ 3.9pp62.5%within the sector's middle half▼ 1.4pp60.9%within the sector's middle half▼ 1.7pp60.3%within the sector's middle half▼ 0.6pp69.8%within the sector's middle half▲ 9.5pp
Current ratio2.75within the sector's middle half▲ 0.312.67within the sector's middle half▼ 0.092.55within the sector's middle half▼ 0.122.51within the sector's middle half▼ 0.043.31within the sector's middle half▲ 0.80
Return on assets (ROA)34.2%above the sector's middle half▼ 18.8pp18.1%within the sector's middle half▼ 16.0pp12.0%within the sector's middle half▼ 6.2pp6.8%within the sector's middle half▼ 5.2pp12.6%within the sector's middle half▲ 5.8pp
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 recovers in 2024; 2024 is 101% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €404,481
Fixed assets
€1,028 ▼ 39.9%
Current assets
€403,453 ▲ 5.5%
Equity and liabilities €404,481
Equity
€282,417 ▲ 22.0%
Debt
€122,063 ▼ 20.0%
Debt's share of the balance-sheet total falls from 39.7% to 30.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€49,715▲
2023 · €25,016
Cash flow
€51,618▲
2023 · €26,723
Debt to equity
0.43▼
2023 · 0.66
ROE
18.0%▲
2023 · 11.3%
Interest coverage
14.65▲
2023 · 5.38
Debt ≤ 1 year
€122,063▼
2023 · €152,559
Income taxes
€17,815▲
2023 · €11,761
Staff costs
€21
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,341 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 26,975 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 | - | - | - | - | €21 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,068 | €820 | €1 | €648 | €682 | ▲ 5.3% |
| Other operating charges640/8 | - | €175 | €57 | €2,606 | €2,811 | ▲ 7.9% |
| Gross operating margin9900 | €84,677 | €76,033 | €54,117 | €27,622 | €52,547 | ▲ 90.2% |
| Operating profit (loss)9901 | €83,554 | €75,038 | €54,059 | €24,368 | €49,033 | ▲ 101% |
| Financial income75/76B | - | €1 | - | €18,119 | €23,110 | ▲ 27.5% |
| Recurring financial income75 | - | €1 | - | €18,119 | €23,110 | ▲ 27.5% |
| Financial charges65/66B | - | €10,997 | €252 | €4,652 | €3,393 | ▼ 27.1% |
| Recurring financial charges65 | €3,052 | €10,997 | €252 | €4,652 | €3,393 | ▼ 27.1% |
| Profit (loss) for the period before taxes9903 | €80,502 | €64,042 | €53,807 | €37,836 | €68,750 | ▲ 81.7% |
| Income taxes67/77 | €17,872 | €16,184 | €13,366 | €11,761 | €17,815 | ▲ 51.5% |
| Profit (loss) for the period9904 | €62,631 | €47,858 | €40,441 | €26,075 | €50,935 | ▲ 95.3% |
| Profit (loss) for the period to be appropriated9905 | €62,631 | €47,858 | €40,441 | €26,075 | €50,935 | ▲ 95.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €183,293 | €263,844 | €337,511 | €384,041 | €404,481 | ▲ 5.3% |
| Fixed assets21/28 | €1,009 | €189 | €1,128 | €1,710 | €1,028 | ▼ 39.9% |
| Tangible fixed assets22/27 | €820 | - | €939 | €1,521 | €839 | ▼ 44.9% |
| Land and buildings22 | - | - | - | €895 | €526 | ▼ 41.2% |
| Furniture and vehicles24 | - | - | €939 | €626 | €313 | ▼ 50.1% |
| Financial fixed assets28 | €189 | €189 | €189 | €189 | €189 | = |
| Current assets29/58 | €182,284 | €263,655 | €336,383 | €382,331 | €403,453 | ▲ 5.5% |
| Amounts receivable within one year40/41 | €180,042 | €258,185 | €327,165 | €373,426 | €378,665 | ▲ 1.4% |
| Trade receivables40 | - | €37,676 | €14,832 | €0 | €7,194 | - |
| Other amounts receivable41 | - | €220,509 | €312,333 | €373,426 | €371,470 | ▼ 0.5% |
| Cash at bank and in hand54/58 | €32 | €3,792 | €7,540 | €8,843 | €1,616 | ▼ 81.7% |
| Deferred charges and accrued income490/1 | - | €1,678 | €1,678 | €62 | €23,172 | ▲ 37,131% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €183,293 | €263,844 | €337,511 | €384,041 | €404,481 | ▲ 5.3% |
| Equity10/15 | €117,108 | €164,966 | €205,407 | €231,482 | €282,417 | ▲ 22.0% |
| Contributions10/11 | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | = |
| Outside capital11 | - | €6,300 | €6,300 | - | - | - |
| Other1109/19 | - | €6,300 | €6,300 | - | - | - |
| Reserves13 | €110,808 | €158,666 | €199,107 | €225,182 | €276,117 | ▲ 22.6% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €156,806 | €197,247 | €223,322 | €274,257 | ▲ 22.8% |
| Amounts payable17/49 | €66,185 | €98,878 | €132,104 | €152,559 | €122,063 | ▼ 20.0% |
| Amounts payable within one year42/48 | €66,185 | €98,878 | €132,104 | €152,559 | €122,063 | ▼ 20.0% |
| Financial debts43 | - | €3,686 | - | - | - | - |
| Credit institutions430/8 | - | €3,686 | - | - | - | - |
| Trade debts44 | €1,410 | €7,509 | €1,857 | €12,392 | €17,236 | ▲ 39.1% |
| Suppliers440/4 | - | €7,509 | €1,857 | €12,392 | €17,236 | ▲ 39.1% |
| Taxes, remuneration and social security45 | - | €87,683 | €130,247 | €140,167 | €104,827 | ▼ 25.2% |
| Taxes450/3 | - | €87,683 | €130,247 | €140,167 | €104,827 | ▼ 25.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €62,631 | €47,858 | €40,441 | €26,075 | €50,935 | ▲ 95.3% |
| + Depreciation and write-downs630 | €1,068 | €820 | €1 | €648 | €682 | ▲ 5.3% |
| Operating cash flow (approximation) | €63,699 | €48,678 | €40,442 | €26,723 | €51,618 | ▲ 93.2% |
| Investment in fixed assets (approximation) | - | €0 | -€940 | -€1,230 | €0 | ▲ 100% |
| Change in cash | - | €3,761 | €3,747 | €1,303 | -€7,227 | ▼ 655% |
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
26-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 118 days late
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 434 days late
2023
31-12
Financial
Weakest financial yearnet €26,075 ▼35.5%
Net result drops to €26,075, the lowest in the series; recovery starts the following year.
20-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 142 days late
2022
31-12
Financial
Equity above €200,000Eq €205,407 ▲24.5%
4 profitable years in a row build equity to €205,407.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150,000Eq €164,966 ▲40.9%
3 profitable years in a row build equity to €164,966.
22-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 53 days late
2020
31-12
Financial
Highest result since 2019net €62,631 ▲30%
Operating result €83,554, net result €62,631, both a record.
31-12
Financial
Equity above €100,000Eq €117,108 ▲115%
2 profitable years in a row build equity to €117,108.
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 67 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Thuin · 1 establishment unit since 2019
Ground area
1,085 m²
Building footprint
121 m²
Volume, LiDAR
692 m³
Parcel 56060B0445/00K002, Wallonia · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
AS2E
since 20192.288.583.554
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56060B0445/00K002 | Wallonia | 1,085 m² | 1 · 121 m² | 7.3 m · 2 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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Of 82,601 companies in this sector we hold annual accounts for 52,629. 38,462 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 (pre-2019)
Founded20-03-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
Contact
E-mail
bernard@as2e.be
Phone
+32476590068
E-invoicing
Reachable via Peppol
Peppol ID
0208:0722944760
Also
9925:BE0722944760
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.