ASPECT ANALYTICS
ActiveSummary
The annual accounts of ASPECT ANALYTICS for financial year 2025 show a net loss of 132% of the equity at the start of that year. The 2025 annual accounts show equity of €5.0m and a net result of -€2.5m. Equity is growing by about 52% per year across the filed financial years. Its solvency ranks better than 76% of 6,075 sector peers (NACE 46, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Activity
Agents in the wholesale of industrial machinery, ships and aircraft
NACE 46140Computer consultancy and computer facilities management NACE 62200
1 site
Size
€7.1mtotal assets 2025
- Staff
- 5.7 FTE
- Equity
- €5.0m
- Loss
- -€2.5m
Total assets +57%: capital increase
Structure
- Largest shareholder
- Heran HealthTech Fund I · 30.26%
- CAPRICORN PARTNERSDirector · permanent representative GEYSKENS Katrin
- Participatiemaatschappij VlaanderenDirector · permanent representative VAN BRUAENE Nathalie
Accounts 32 days early3 of 12 deeds read
Why 57raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €2.5m, the second in a row (financial year 2025)lowers riskLiquidity: current ratio 10.42, cash €2.2mFigures for financial year 2025 (filed 29-06-2026)Equity €5.0m (69.7% of total assets)Show the evidence
Checked score
Score 2025
57
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 66% of its sector peers (NACE 46, micro)
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Strong
Solvency
95+28
equity 69.7% of total assets
Liquidity
88+24
short-term debt 7.7% · cash 30.8%
Profitability
0=
return on assets -35.0%
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.6%
12-2024: 0.6%● unchanged vs 11-2024
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.7%▲ +0.1 percentage points vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.5%▼ -0.3 percentage points vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.6%▲ +0.1 percentage points vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.8%▲ +0.2 percentage points vs 05-2026
07-2026: 0.3%▼ -0.5 percentage points vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026lowest value
09-2026: 0.3%● unchanged vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026lowest value
Credit of up to €280,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 10.42, compared with 17.68 in 2024, above the usual 1.5; short-term debt: 7.7% and cash: 30.8% of total assets), and 30.3% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 46, micro): better than 75% on solvency, 88% on liquidity, 6% on profitability and 96% on growth.
The bankruptcy probability was computed on 16-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises riskneutral
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 29-06-2026, 32 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
32 days early
2024
32 days early
2023
14 days early
2022
25 days early
2021
44 days early
2020
11 days early
2019
81 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% 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 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
17-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Weakest financial yearnet -€2.5m
- Equity above €2mequity €5.0m ▲163%
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2.5m▼ 83.8%
2024 · -€1.4m
Working capital
€5.2m▲ 76.0%
2024 · €3.0m
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €2.5m in 2025 against €1.4m in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€2.5m
2025
Net result-€2.5m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€7.1m
2025
Equity€5.0m
2025
Debt€2.2m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€5.2m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-35.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency69.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio10.42
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)5.7
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.1m--€0.2m▼ 45.6%-€0.06m▲ 71.4%-€0.3m▼ 357%-€0.8m▼ 202%-€1.4m▼ 74.2%-€2.5m▼ 76.0%
Net result-€0.1m--€0.2mbelow the sector's middle half▼ 28.0%-€0.06mbelow the sector's middle half▲ 67.6%-€0.3mbelow the sector's middle half▼ 344%-€0.8mbelow the sector's middle half▼ 196%-€1.4mbelow the sector's middle half▼ 78.6%-€2.5mbelow the sector's middle half▼ 83.8%
Equity€0.5m-€0.3mabove the sector's middle half▼ 36.6%€0.3mabove the sector's middle half▼ 18.7%€1.8mabove the sector's middle half▲ 599%€2.1mabove the sector's middle half▲ 22.0%€1.9mabove the sector's middle half▼ 11.9%€5.0mwithin the sector's middle half▲ 163%
Total assets€0.7m-€0.7mabove the sector's middle half▲ 7.8%€0.7mabove the sector's middle half▼ 1.2%€2.0mabove the sector's middle half▲ 175%€2.6mwithin the sector's middle half▲ 29.5%€4.5mabove the sector's middle half▲ 73.7%€7.1mwithin the sector's middle half▲ 57.2%
Debt€0.2m-€0.4m▲ 115%€0.5m▲ 11.3%€0.3m▼ 46.5%€0.5m▲ 80.7%€2.6m▲ 467%€2.2m▼ 18.3%
Working capital€0.2m-€0.2mabove the sector's middle half▼ 25.5%-€0.03mbelow the sector's middle half€0.8mabove the sector's middle half€1.1mabove the sector's middle half▲ 37.0%€3.0mabove the sector's middle half▲ 169%€5.2mabove the sector's middle half▲ 76.0%
Solvency70.8%-41.6%within the sector's middle half▼ 29.1pp34.3%within the sector's middle half▼ 7.4pp87.2%above the sector's middle half▲ 52.9pp82.1%above the sector's middle half▼ 5.1pp41.6%within the sector's middle half▼ 40.5pp69.7%above the sector's middle half▲ 28.0pp
Current ratio7.29-5.07above the sector's middle half▼ 2.220.73below the sector's middle half▼ 4.344.10above the sector's middle half▲ 3.377.21above the sector's middle half▲ 3.1117.68above the sector's middle half▲ 10.4710.42above the sector's middle half▼ 7.26
Return on assets (ROA)-20.2%--24.0%below the sector's middle half▼ 3.8pp-7.9%below the sector's middle half▲ 16.2pp-12.7%below the sector's middle half▼ 4.9pp-29.1%below the sector's middle half▼ 16.4pp-29.9%below the sector's middle half▼ 0.8pp-35.0%below the sector's middle half▼ 5.1pp
Staff (FTE)1within the sector's middle half1=1.4▲ 40.0%3.9within the sector's middle half▲ 179%5.3within the sector's middle half▲ 35.9%5.7within the sector's middle half▲ 7.5%
above
within
below
the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2025 Net result -84% on 2024. The accounts now follow the full format, last year the abbreviated format.
- 2025 Equity +163%, Total assets +57% on 2024. Capital increase of €4,538,750 (Official Gazette 19-09-2025). Capital increase of €1,036,163 (Official Gazette 19-09-2025).
- 2023 Net result -196% on 2022. The accounts now follow the abbreviated format, last year the micro format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.1m
Fixed assets
€1.4m ▼ 1.6%
Current assets
€5.7m ▲ 83.7%
Equity and liabilities €7.1m
Equity
€5.0m ▲ 163%
Debt
€2.2m ▼ 18.3%
Debt's share of the balance-sheet total falls from 58.4% to 30.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€1.5m▼
2024 · -€585,805
Cash flow
-€1.6m▼
2024 · -€552,296
Debt to equity
0.44▼
2024 · 1.40
ROE
-50.3%▲
2024 · -71.9%
Interest coverage
-19.07▲
2024 · -74.09
Debt ≤ 1 year
€551,364▲
2024 · €176,988
Debt > 1 year
€0▼
2024 · €1.0m
Income taxes
-€33,105▲
2024 · -€33,443
Staff costs
€578,087▲
2024 · €504,570
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,592 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87.4% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
3.0%
went bankrupt
9.5%
stopped otherwise
87.4%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 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 74.5% 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 3,592 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €0.07m | €0.1m | €0.5m | €0.5m | €0.6m | ▲ 14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.2m | €0.3m | €0.4m | €0.7m | €0.8m | €0.9m | ▲ 13.7% |
| Other operating charges640/8 | - | - | €0.001m | €0.001m | €0.004m | €0.2m | €0.002m | ▼ 99.0% |
| Non-recurring operating charges66A | - | - | - | €0.003m | €0 | - | - | - |
| Gross operating margin9900 | -€0.06m | -€0.03m | €0.3m | €0.3m | €0.4m | €0.09m | -€1.0m | - |
| Operating profit (loss)9901 | -€0.1m | -€0.2m | -€0.06m | -€0.3m | -€0.8m | -€1.4m | -€2.5m | ▼ 76.0% |
| Financial income75/76B | - | - | €0.002m | €0.001m | €0.001m | €0.008m | €0.001m | ▼ 84.0% |
| Recurring financial income75 | €486 | €0.001m | €0.002m | €0.001m | €0.001m | €0.008m | €0.001m | ▼ 84.0% |
| Financial charges65/66B | - | - | €0.02m | €0.01m | €0.008m | €0.008m | €0.08m | ▲ 917% |
| Recurring financial charges65 | €0.001m | €0.004m | €0.02m | €0.01m | €0.008m | €0.008m | €0.08m | ▲ 917% |
| Profit (loss) for the period before taxes9903 | -€0.1m | -€0.2m | -€0.07m | -€0.3m | -€0.8m | -€1.4m | -€2.5m | ▼ 81.7% |
| Income taxes67/77 | - | -€0.03m | -€0.01m | -€0.02m | -€0.05m | -€0.03m | -€0.03m | ▲ 1.0% |
| Profit (loss) for the period9904 | -€0.1m | -€0.2m | -€0.06m | -€0.3m | -€0.8m | -€1.4m | -€2.5m | ▼ 83.8% |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | -€0.2m | -€0.06m | -€0.3m | -€0.8m | -€1.4m | -€2.5m | ▼ 83.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.7m | €0.7m | €0.7m | €2.0m | €2.6m | €4.5m | €7.1m | ▲ 57.2% |
| Formation expenses20 | €0.02m | €0.02m | €0.01m | €0.04m | €0.001m | €0 | - | - |
| Fixed assets21/28 | €0.4m | €0.5m | €0.6m | €0.9m | €1.3m | €1.4m | €1.4m | ▼ 1.6% |
| Intangible fixed assets21 | €0.4m | €0.5m | €0.6m | €0.9m | €1.3m | €1.4m | €1.4m | ▼ 1.2% |
| Tangible fixed assets22/27 | €0.01m | €0.01m | €0.005m | €0.02m | €0.05m | €0.03m | €0.03m | ▼ 18.7% |
| Furniture and vehicles24 | - | - | €0.005m | €0.02m | €0.05m | €0.03m | €0.03m | ▼ 18.7% |
| Current assets29/58 | €0.3m | €0.2m | €0.08m | €1.1m | €1.3m | €3.1m | €5.7m | ▲ 83.7% |
| Amounts receivable within one year40/41 | €0.04m | €0.05m | €0.07m | €0.2m | €0.8m | €2.6m | €2.5m | ▼ 4.9% |
| Trade receivables40 | - | - | €38 | €0.1m | €0.2m | €0.5m | €0.6m | ▲ 11.6% |
| Other amounts receivable41 | - | - | €0.07m | €0.09m | €0.6m | €2.0m | €1.9m | ▼ 9.2% |
| Current investments50/53 | - | - | - | - | - | - | €1.0m | - |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.007m | €0.8m | €0.4m | €0.5m | €2.2m | ▲ 345% |
| Deferred charges and accrued income490/1 | - | - | €0.003m | €0.005m | €0.04m | €0.05m | €0.09m | ▲ 76.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.7m | €0.7m | €0.7m | €2.0m | €2.6m | €4.5m | €7.1m | ▲ 57.2% |
| Equity10/15 | €0.5m | €0.3m | €0.3m | €1.8m | €2.1m | €1.9m | €5.0m | ▲ 163% |
| Contributions10/11 | €0.6m | €0.5m | €0.5m | €2.3m | €2.9m | €2.5m | €8.1m | ▲ 222% |
| Capital10 | - | - | €0.5m | €2.3m | €2.9m | €2.5m | €8.1m | ▲ 222% |
| Issued capital100 | - | - | €0.5m | €2.3m | €2.9m | €2.5m | €8.1m | ▲ 222% |
| Profit (loss) carried forward14 | -€0.1m | -€0.2m | -€0.2m | -€0.5m | -€0.8m | -€0.6m | -€3.1m | ▼ 403% |
| Amounts payable17/49 | €0.2m | €0.4m | €0.5m | €0.3m | €0.5m | €2.6m | €2.2m | ▼ 18.3% |
| Amounts payable after more than one year17 | - | €0.2m | €0.2m | €0 | €0.02m | €1.0m | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €0.2m | €0 | €0.02m | €1.0m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.04m | €0.04m | €0.1m | €0.3m | €0.2m | €0.2m | €0.6m | ▲ 212% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.01m | €0.01m | €0.002m | ▼ 82.8% |
| Financial debts43 | - | - | €0.03m | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | €0.03m | €0 | - | - | - | - |
| Trade debts44 | €0.04m | €0.04m | €0.07m | €0.1m | €0.1m | €0.1m | €0.5m | ▲ 294% |
| Suppliers440/4 | - | - | €0.07m | €0.1m | €0.1m | €0.1m | €0.5m | ▲ 294% |
| Advances received on contracts in progress46 | - | - | - | €0.09m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €0.02m | €0.02m | €0.04m | €0.04m | €0.06m | ▲ 53.8% |
| Taxes450/3 | - | - | €330 | €0 | - | - | - | - |
| Remuneration and social security454/9 | - | - | €0.02m | €0.02m | €0.04m | €0.04m | €0.06m | ▲ 53.8% |
| Other amounts payable47/48 | - | - | €0.001m | €0.001m | €446 | €112 | €60 | ▼ 46.3% |
| Accrued charges and deferred income492/3 | - | - | €0.2m | €0 | €0.3m | €1.5m | €1.6m | ▲ 9.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.1m | -€0.2m | -€0.06m | -€0.3m | -€0.8m | -€1.4m | -€2.5m | ▼ 83.8% |
| + Depreciation and write-downs630 | €0.07m | €0.2m | €0.3m | €0.4m | €0.7m | €0.8m | €0.9m | ▲ 13.7% |
| Operating cash flow (approximation) | -€0.06m | -€0.01m | €0.2m | €0.2m | -€0.08m | -€0.6m | -€1.6m | ▼ 186% |
| Investment in fixed assets (approximation) | - | -€0.3m | -€0.4m | -€0.7m | -€1.1m | -€0.9m | -€0.9m | ▼ 1.9% |
| Change in cash | - | -€0.07m | -€0.1m | €0.8m | -€0.4m | €0.1m | €1.7m | ▲ 1,585% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 29-06-2026 | 2026-00238476 |
| 31-12-2024 | abbreviated format | 29-06-2025 | 2025-00220513 |
| 31-12-2023 | abbreviated format | 17-07-2024 | 2024-00259436 |
| 31-12-2022 | micro format | 06-07-2023 | 2023-00220282 |
| 31-12-2021 | micro format | 17-06-2022 | 2022-20077650 |
| 31-12-2020 | micro format | 20-07-2021 | 2021-38200434 |
| 31-12-2019 | micro format | 11-05-2020 | 2020-12600595 |
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Of the 1,062 active companies whose main activity is agents in the wholesale of industrial machinery, ships and aircraft (NACE 46140), figures are known for 642. 159 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 14 entries · €1.4m awarded · €804,290 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 5 | €495,298 | €382,210 |
| 2024 | 4 | €416,811 | €213,345 |
| 2023 | 3 | €502,210 | €208,735 |
| 2022 | 2 | €9,735 | €0 |
European Union, budget
2023 · 4 entries · €1.2m in totalProjects
GLIOMATCH - THE MALIGNANT GLIOMA IMMUNO-ONCOLOGY MATCHMAKER: TOWARDS DATA-DRIVEN PRECISION MEDICINE USING SPATIALLY RESOLVED RADIO-MULTIOMICS
European research
4 projects · €1.5m EU contributionProgrammes
Projects
The malignant Glioma immuno-oncology matchmaker: towards data-driven precision medicine using spatially resolved radio-multiomics
SPAtial single-CEll omics research training for MELanoma precision medicine
A Comprehensive Translational Research and Training Pipeline Harnessing Lipid Metabolism to Improve Prostate Cancer Management and Educate Young Researchers in Tackling Complex Disease
Lipids as promising BRidge between novel disease InsiGHts and improved Therapy
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
2 directors, last change in 2025
Board 2
CAPRICORN PARTNERS
CurrentCapricorn bestuurder · since 08-09-2025 · Public limited company · permanent representative: GEYSKENS Katrin
Participatiemaatschappij Vlaanderen
CurrentPmv bestuurder · since 08-09-2025 · Public limited company · permanent representative: VAN BRUAENE Nathalie
Permanent representatives 2
GEYSKENS Katrin
CurrentPermanent representative · since 08-09-2025 · for CAPRICORN PARTNERS
VAN BRUAENE Nathalie
CurrentPermanent representative · since 08-09-2025 · for Participatiemaatschappij Vlaanderen
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
9 of this company's 12 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
7 people since 2025, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| CAPRICORN PARTNERS |
|
| Participatiemaatschappij Vlaanderen |
|
| CLAESEN Marc Emiel |
|
| Heran Partners |
|
| SIENAERT Ilse |
|
| VERBEECK Nico |
|
| VERHOEVEN Steven Dieter |
|
The directors' other companies
1 current director with another company that went bankrupt, was dissolved or struck off
1 other company of this director went bankrupt (2025).
- REIN4CED bankruptcy on 29-12-2025Official Gazettemandate since 2022
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it. Only boards we have read from the Gazette; other companies may still be missing.
Owners and capital
Owners
2 ownersOwners 2
-
30.26%
-
17.02%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Capital over the years
- 19-09-2025 Capital increase of €4,538,750 · to €7,048,019.26 · 238,998 new shares
- 19-09-2025 Capital increase of €1,036,163.20 · to €8,084,182.46 · 64,862 new shares
Group and network
Connections & network
16 connected companiesThis company
Company
Director
Shareholding
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Linked via shared directors
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
29-06
NBB filing
Annual accounts filed
financial year 2025 · full format
2025
31-12
Financial
Weakest financial yearnet -€2.5m
Net result drops to -€2.5m, the lowest in the series.
31-12
Financial
Equity above €2mequity €5.0m ▲163%
Equity rises from €1.9m to €5.0m.
19-09
Gazette deed
Resignations: CLAESEN Marc Emiel, SIENAERT Ilse and 3 othersAppointments: CLAESEN Marc Emiel, Heran Partners and 4 others · Permanent representatives: VERRELST Herman, GEYSKENS Katrin and VAN BRUAENE Nathalie · Auditor report32 facts ▸
Gazette deed
Resignations: CLAESEN Marc Emiel, SIENAERT Ilse and 3 others
Appointments: CLAESEN Marc Emiel, Heran Partners and 4 others · Permanent representatives: VERRELST Herman, GEYSKENS Katrin and VAN BRUAENE Nathalie · Auditor report32 facts ▸
- General meeting, 08-09-2025
- Auditor report, 05-09-2025
- Capital increase, €4,538,750
- Capital increase, €1,036,163.20
- Amendment of the articles
- Financial instrument, 51, “issue” (deed in Dutch) (2 times)
- Share issue, waiver, “anti-dilutie inschrijvingsrechten” (deed in Dutch)
- Share issue, subscription, “anti-dilutie inschrijvingsrechten” (deed in Dutch)
- Capital increase (3 times)
- Share issue, waiver, “schadevergoedingsinschrijvingsrechten” (deed in Dutch)
- Share issue, subscription, “schadevergoedingsinschrijvingsrechten” (deed in Dutch)
- Financial instrument, “Inschrijvingsrechtenplan 2025”, 55172 (deed in Dutch)
- +20 further facts in this act
29-06
NBB filing
Annual accounts filed
financial year 2024 · abbreviated format
21-05
Gazette deed
MiscellaneousFinancial instrument · Power of attorney · Capital increase7 facts ▸
Gazette deed
Miscellaneous
Financial instrument · Power of attorney · Capital increase7 facts ▸
- General meeting, 14-05-2025
- Other provision, “EERSTE BESLISSING:kennisname verslagen, EERSTE BESLISSING” (deed in Dutch)
- Financial instrument, 30089, “vernietiging” (deed in Dutch)
- Financial instrument, “inschrijvingsrechtenplan 2025”, 31289 (deed in Dutch)
- Other provision, “VIERDE BESLISSING:verzaking aan het voorkeurrecht, VIERDE BESLISSING” (deed in Dutch)
- Power of attorney (2 times)
- Capital increase
09-01
Gazette deed
Resignation: VERRELST Herman (bestuurder,tevens voorzitter van de raad van bestuur)Appointment: VERHOEVEN Steven Dieter (independent director) · Permanent representative: VERRELST Herman Karel · Capital decrease12 facts ▸
Gazette deed
Resignation: VERRELST Herman (bestuurder,tevens voorzitter van de raad van bestuur)
Appointment: VERHOEVEN Steven Dieter (independent director) · Permanent representative: VERRELST Herman Karel · Capital decrease12 facts ▸
- General meeting, 23-12-2024
- Other provision, “kennisname verliezen en bijzonder verslag-voortzetting activiteiten, voortzetting van de activiteiten” (deed in Dutch)
- Capital decrease, €1,500,000
- Other provision, “vaststelling verwezenlijking kapitaalvermindering” (deed in Dutch)
- Amendment of the articles, 5
- Director resignation, VERRELST Herman (bestuurder,tevens voorzitter van de raad van bestuur)
- Director appointment, VERHOEVEN Steven Dieter (independent director)
- Director appointment, VERHOEVEN Steven Dieter (chair of the board)
- Director in office, Heran Partners (director)
- Permanent representative, VERRELST Herman Karel
- Other provision, “volmacht voor de coördinatie” (deed in Dutch)
- Power of attorney
2024
31-12
Financial
Liquidity more than doubledcurrent ratio 17.68
Current ratio from 7.21 to 17.68.
17-07
NBB filing
Annual accounts filed
financial year 2023 · abbreviated format
2023
31-12
Financial
Equity above €2mequity €2.1m ▲22%
Equity rises from €1.8m to €2.1m.
06-07
NBB filing
Annual accounts filed
financial year 2022 · micro format
2022
31-12
Financial
Liquidity more than 5 timescurrent ratio 4.10
Current ratio from 0.73 to 4.10.
Show earlier events
31-12
Financial
Equity above €1mequity €1.8m ▲599%
Equity rises from €251,559 to €1.8m.
17-06
NBB filing
Annual accounts filed
financial year 2021 · micro format
2021
20-07
NBB filing
Annual accounts filed
financial year 2020 · micro format
2020
11-05
NBB filing
Annual accounts filed
financial year 2019 · micro format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
3 of 12 deeds read
About the unread acts
Of the 12 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPublic limited company
Founded05-12-2018
Financial year end31-12
Activities, NACEBEL 2025
46140Agents in the wholesale of industrial machinery, ships and aircraft
62200Computer consultancy and computer facilities management
62900Other information technology and computer services
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0715520401
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 16 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Genk · 1 establishment unit since 2018
Ground area
21.2 ha
Parcel 71307H0052/00Y018, Flanders. Linked by address, not a title deed.
39
companies at this address
See who is registered here
1 establishment unit
ASPECT ANALYTICS
since 2018unit no. 2.283.347.435
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71307H0052/00Y018 | Flanders | 21.2 ha | - | - |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het ontwikkelen van software en software-toepassingen; De opslag, analyse en het beheer van digitale informatie door middel van…” (deed in Dutch)
8 activities (deed in Dutch)
- Het ontwikkelen van software en software-toepassingen
- De opslag, analyse en het beheer van digitale informatie door middel van toepassingsgeoriënteerde software en gerelateerde computeraangelegenheden, in de meest ruime betekenis
- Het verstrekken van advies, bijstand, het uitvoeren van onderzoek, de ontwikkeling en opleiding op gebied van hard- en software, alsook het verstekken van consulting en expertisen van informaticasystemen
- Ontwikkelen, commercialisering, in- en uitvoeren, aan- en verkopen, verdelen en op de markt brengen, huren en verhuren, eventueel door huurkoop of leasing, onderhoud en reparatie van eender welk softwareproduct en hardware product
- In het algemeen het presteren van diensten op het vlak van software, hardware, informatie en informatieverwerking, zoals onder meer hard- en software, gegevensverwerking, consulting en opleiding, herstellingen, analyses, ontwikkelingen en ontwerpen van computeroplossingen, het organiseren en doceren van opleidingen, cursussen, voordrachten, seminaries en congressen en het opstellen, drukken, uitgeven, verspreiden van didactisch materiaal op alle gebieden die verband houden met het voorwerp
- Ontwikkelen, in- en uitvoeren, aan- en verkopen, huren en verhuren, onderhoud en reparatie van eender welk elektronisch materiaal in de breedste zin
- Leveren van technische, administratieve en management adviezen
- Coördinatie en uitvoering van projecten
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bij enkel besluit van de Raad van Bestuur” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Artikel 14. Externe vertegenwoordiging Twee (2) Bestuurders, zijnde ten minste de Gedelegeerd Bestuurder of Managing Founder Bestuurder en…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Bijzondere Bestuurdersmeerderheid, goedkeuring door een gewone meerderheid van de Raad van Bestuur die tevens de goedkeuring omvat van ten…” (deed in Dutch)“Dagelijks bestuur, De Raad van Bestuur kan de CEO en CTO op elk ogenblik ontslaan” (deed in Dutch)“Raad van Bestuur, De Bestuurders stellen een voorzitter van de Raad van Bestuur (de "Voorzitter") aan” (deed in Dutch)“De Raad van Bestuur wordt voorgezeten door de Voorzitter of, bij diens afwezigheid, door een Bestuurder door de Raad van Bestuur daartoe…” (deed in Dutch)
Capital, shares and profit
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- “Bestemming van de winst – Reserves, De aanwending van de jaarlijkse nettowinst wordt bepaald door de algemene vergadering, op voorstel van…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Fourth Thursday of June at 17:00
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- One provision in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed