B44C
ActiveSummary
B44C has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €94,145 and a net result of €70,807. Equity is shrinking by ~21.2% per year across the filed fiscal years. Its solvency ranks better than 53% of 8966 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency83▲+12
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 2.32 against 1.65 in 2023; short-term debt: 38.6% and cash: 21.7% of total assets), and 41.8% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €94,145
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-09-2025, 42 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
42 d late
2023
43 d late
2022
31 d late
2021
29 d late
2020
82 d late
2019
49 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 46 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€94,145▲ 0.9%
2023 · €93,337
Total assets
€161,854▼ 19.4%
2023 · €200,733
Net result
€70,807▲ 3.7%
2023 · €68,250
Working capital
€82,286▲ 23.1%
2023 · €66,828
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€71,649▼ 72.6%€77,034▲ 7.5%€77,916▲ 1.1%€90,073▲ 15.6%€92,943▲ 3.2%
Net result€56,019▼ 70.7%€60,509above the sector's middle half▲ 8.0%€59,097above the sector's middle half▼ 2.3%€68,250above the sector's middle half▲ 15.5%€70,807above the sector's middle half▲ 3.7%
Equity€337,262=€99,990within the sector's middle half▼ 70.4%€84,087within the sector's middle half▼ 15.9%€93,337within the sector's middle half▲ 11.0%€94,145within the sector's middle half▲ 0.9%
Total assets€421,818▼ 3.5%€128,167within the sector's middle half▼ 69.6%€174,130within the sector's middle half▲ 35.9%€200,733within the sector's middle half▲ 15.3%€161,854within the sector's middle half▼ 19.4%
Debt€84,556▼ 34.9%€28,177▼ 66.7%€90,043▲ 220%€107,395▲ 19.3%€67,709▼ 37.0%
Working capital€329,142▲ 12.0%€93,752▼ 71.5%€79,623▼ 15.1%€66,828▼ 16.1%€82,286▲ 23.1%
Solvency80.0%▲ 2.8pp78.0%above the sector's middle half▼ 1.9pp48.3%within the sector's middle half▼ 29.7pp46.5%within the sector's middle half▼ 1.8pp58.2%within the sector's middle half▲ 11.7pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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 has risen four years in a row; 2024 is 3% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €161,854
Fixed assets
€17,012 ▼ 44.5%
Current assets
€144,842 ▼ 14.9%
Equity and liabilities €161,854
Equity
€94,145 ▲ 0.9%
Debt
€67,709 ▼ 37.0%
Debt's share of the balance-sheet total falls from 53.5% to 41.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€107,664▲
2023 · €107,208
Cash flow
€85,528▲
2023 · €85,386
Current ratio
2.32▲
2023 · 1.65
Quick ratio
1.25▲
2023 · 1.02
Debt to equity
0.72▼
2023 · 1.15
ROE
75.2%▲
2023 · 73.1%
ROA
43.7%▲
2023 · 34.0%
Interest coverage
21.25▼
2023 · 26.51
Debt ≤ 1 year
€62,556▼
2023 · €103,276
Income taxes
€18,330▲
2023 · €17,782
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% 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
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 26,964 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,693 | €1,552 | €1,659 | €17,135 | €14,720 | ▼ 14.1% |
| Other operating charges640/8 | - | €1,805 | €1,790 | €1,075 | €1,262 | ▲ 17.4% |
| Gross operating margin9900 | €75,547 | €80,391 | €81,365 | €108,283 | €108,926 | ▲ 0.6% |
| Operating profit (loss)9901 | €71,649 | €77,034 | €77,916 | €90,073 | €92,943 | ▲ 3.2% |
| Financial income75/76B | - | - | €1 | €3 | €1,262 | ▲ 38,968% |
| Recurring financial income75 | €3 | - | €1 | €3 | €1,262 | ▲ 38,968% |
| Financial charges65/66B | - | €75 | €933 | €4,044 | €5,068 | ▲ 25.3% |
| Recurring financial charges65 | €84 | €75 | €933 | €4,044 | €5,068 | ▲ 25.3% |
| Profit (loss) for the period before taxes9903 | €71,565 | €76,959 | €76,983 | €86,032 | €89,137 | ▲ 3.6% |
| Income taxes67/77 | €15,546 | €16,450 | €17,886 | €17,782 | €18,330 | ▲ 3.1% |
| Profit (loss) for the period9904 | €56,019 | €60,509 | €59,097 | €68,250 | €70,807 | ▲ 3.7% |
| Profit (loss) for the period to be appropriated9905 | €56,019 | €60,509 | €59,097 | €68,250 | €70,807 | ▲ 3.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €421,818 | €128,167 | €174,130 | €200,733 | €161,854 | ▼ 19.4% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €8,120 | €6,238 | €5,300 | €30,629 | €17,012 | ▼ 44.5% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €8,120 | €6,238 | €5,300 | €30,629 | €17,012 | ▼ 44.5% |
| Land and buildings22 | - | €4,555 | €3,443 | €2,331 | €1,219 | ▼ 47.7% |
| Furniture and vehicles24 | - | €1,683 | €1,857 | €28,298 | €15,793 | ▼ 44.2% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €413,698 | €121,929 | €168,830 | €170,104 | €144,842 | ▼ 14.9% |
| Stocks and contracts in progress3 | €50,939 | €59,087 | €64,736 | €64,667 | €66,732 | ▲ 3.2% |
| Stocks30/36 | - | €59,087 | €64,736 | €64,667 | €66,732 | ▲ 3.2% |
| Amounts receivable within one year40/41 | €19,777 | €22,616 | €21,216 | €24,695 | €23,674 | ▼ 4.1% |
| Trade receivables40 | - | €22,616 | €21,216 | €22,124 | €23,674 | ▲ 7.0% |
| Other amounts receivable41 | - | - | - | €2,571 | - | - |
| Current investments50/53 | €0 | - | - | - | €15,000 | - |
| Cash at bank and in hand54/58 | €343,742 | €33,585 | €79,822 | €79,791 | €35,107 | ▼ 56.0% |
| Deferred charges and accrued income490/1 | - | €6,641 | €3,057 | €951 | €4,328 | ▲ 355% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €421,818 | €128,167 | €174,130 | €200,733 | €161,854 | ▼ 19.4% |
| Equity10/15 | €337,262 | €99,990 | €84,087 | €93,337 | €94,145 | ▲ 0.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €324,862 | €81,390 | €65,487 | €74,737 | €75,545 | ▲ 1.1% |
| Non-distributable reserves130/1 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | €79,530 | €65,487 | €74,737 | €75,545 | ▲ 1.1% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €84,556 | €28,177 | €90,043 | €107,395 | €67,709 | ▼ 37.0% |
| Amounts payable within one year42/48 | €84,556 | €28,177 | €89,208 | €103,276 | €62,556 | ▼ 39.4% |
| Trade debts44 | €1,956 | €13,657 | €3,178 | €4,384 | €4,683 | ▲ 6.8% |
| Suppliers440/4 | - | €13,657 | €3,178 | €4,384 | €4,683 | ▲ 6.8% |
| Taxes, remuneration and social security45 | - | €13,583 | €17,801 | €18,630 | €21,334 | ▲ 14.5% |
| Taxes450/3 | - | €13,583 | €17,801 | €15,305 | €18,009 | ▲ 17.7% |
| Remuneration and social security454/9 | - | - | - | €3,325 | €3,325 | = |
| Other amounts payable47/48 | - | €936 | €68,229 | €80,262 | €36,540 | ▼ 54.5% |
| Accrued charges and deferred income492/3 | - | - | €835 | €4,119 | €5,153 | ▲ 25.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,019 | €60,509 | €59,097 | €68,250 | €70,807 | ▲ 3.7% |
| + Depreciation and write-downs630 | €5,693 | €1,552 | €1,659 | €17,135 | €14,720 | ▼ 14.1% |
| Operating cash flow (approximation) | €61,712 | €62,062 | €60,756 | €85,386 | €85,528 | ▲ 0.2% |
| Investment in fixed assets (approximation) | - | €330 | -€721 | -€42,465 | -€1,103 | ▲ 97.4% |
| Change in cash | - | -€310,157 | €46,238 | -€31 | -€44,683 | ▼ 142,567% |
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
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 42 days late
2024
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 82 days late
2020
31-12
Financial
Weakest financial yearnet €56,019 ▼70.7%
Net result drops to €56,019, the lowest in the series; recovery starts the following year.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2016
Ground area
1,643 m²
Building footprint
288 m²
Volume, LiDAR
1,287 m³
Parcel 34033C0217/00F000, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
B44C
since 20162.259.500.578
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34033C0217/00F000 | Flanders | 1,643 m² | 1 · 288 m² | 6.3 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 13,417 companies in sector 73300 we hold annual accounts for 6,906. 5,631 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-12-2016
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0667589434
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.