Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of B4E is 0.2% (very low). The 2024 annual accounts show equity of €365k and a net result of €120k. Equity is growing by ~36.8% per year across the filed fiscal years. Its solvency ranks better than 32% of 12464 sector peers (fiscal year 2024). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 6 annual accounts.
Signals
2 signals · with evidenceConsistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
View the result trend Growing equity
Equity grew over 2022-2024. Profits are largely retained rather than distributed.
View the equity trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 12 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 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.
How we compute the deadline
The year end is derived from 8 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 30-08-2025 | 30 d late | 2025-00458061 |
| 31-12-2023 | 31-07-2024 | 27-08-2024 | 27 d late | 2024-00381115 |
| 31-12-2022 | 31-07-2023 | 06-09-2023 | 37 d late | 2023-00435929 |
| 31-12-2021 | 31-07-2022 | 02-08-2022 | 2 d late | 2022-20261148 |
| 31-12-2020 | 31-07-2021 | 26-08-2021 | 26 d late | 2021-54200152 |
| 31-12-2019 | 31-07-2020 | 22-06-2020 | 39 d early | 2020-19300256 |
| 31-12-2017 | 31-07-2018 | 31-08-2018 | 31 d late | 2018-57500179 |
| 31-12-2016 | 31-07-2017 | 27-07-2017 | 4 d early | 2017-38100433 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsEstablished
Founded in 2015, 10 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.2%
Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Higher-failure-rate region
+Annual accounts: healthy financial profile
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
Turnover€422k+19.0%
EBIT margin28.6%+8.8pp
Net result€120k+148.5%
Working capital€81k-59.0%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 30-08-2025 with the NBB · fiscal year 2024 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~36.8%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 70, Head offices & management consulting · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 40.3% | 60.6% | |
| Net result | €120k | €31k | |
| Equity | €365k | €63k | |
| Gross operating margin | €251k | €52k | |
| Total assets | €907k | €124k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P32
Stable position over 2020-2024
· n=1371-12464
P91
Stable position over 2020-2024
· n=1371-12466
P93
Improving position over 2020-2024
· n=1373-12472
P95
Stable position over 2020-2024
· n=1369-12452
Describes the position versus peers, not a forecast.
€422k
+19.0%
19-24
€241k
+75.6%
19-24
€120k
+148.5%
19-24
€181k
+66.7%
19-24
€907k
+3.0%
19-24
€365k
+48.8%
19-24
€81k
-59.0%
19-24
€58k
+192.4%
19-24
€542k
-14.7%
19-24
€94k
-39.3%
19-24
€447k
-6.7%
19-24
1.85
-18.1%
19-24
1.85
-18.1%
19-24
40.3%
+44.4%
19-24
1.48
-42.7%
19-24
32.8%
+67.0%
19-24
13.2%
+141.2%
19-24
14.5%
-24.6%
19-24
40.8%
+3.0%
19-24
82.77
+515.3%
19-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €241k |
| Net profit | €120k |
| Cash flow | €181k |
| Staff costs | - |
| Income taxes | €58k |
| Dividends | - |
| Total assets | €907k |
| Equity | €365k |
| Debt | €542k |
| of which ≤ 1y | €94k |
| of which > 1y | €447k |
| Working capital | €81k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 1.85 |
| Quick ratio | 1.85 |
| Working capital ratio | 8.9% |
| Solvency | 40.3% |
| Debt / equity | 1.48 |
| Long-term debt ratio | 1.22 |
| Interest coverage | 82.77 |
| Gross margin | - |
| Net margin | - |
| ROA | 13.2% |
| ROE | 32.8% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €907k |
| Fixed assets | 21/28 | €732k |
| Tangible fixed assets | 22/27 | €450k |
| Financial fixed assets | 28 | €282k |
| Current assets | 29/58 | €175k |
| Amounts receivable within one year | 40/41 | €77k |
| Cash & bank | 54/58 | €82k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €907k |
| Equity | 10/15 | €365k |
| Contributions / capital | 10/11 | €6k |
| Reserves | 13 | €288k |
| Accumulated profits (losses) | 14 | €71k |
| Amounts payable | 17/49 | €542k |
| Amounts payable after one year | 17 | €447k |
| Amounts payable within one year | 42/48 | €94k |
| Trade debts payable within one year | 44 | €4k |
| Income statement | ||
| Gross operating margin | 9900 | €251k |
| Operating result | 9901 | €180k |
| Financial income | 75 | €2 |
| Financial charges | 65 | €3k |
| Result before taxes | 9903 | €177k |
| Income taxes | 67/77 | €58k |
| Net result for the period | 9904 | €120k |
| Result to be appropriated | 9905 | €120k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed94
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Structure & network
Connections & network
1 connected companyGroup structure
We sit on their board · 1 location
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Ownership & control
1 partyB4EBE 0635.630.310
controls
Where this company holds controlthis company sits on their board1
1 location
Each band states what its claims rest on. A board seat is influence over the board, not ownership. Court mandates (receiver, interim administrator) and liquidation mandates do not link companies and are therefore absent here; they belong under Directors & mandates.
Locations & real estate
Registered office
from the Crossroads BankCannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de l'Etang 401410 WaterlooEstablishment units
1 locationB4E
since 20152.245.383.219
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area1,150 m²
Buildings1
Building footprint171 m²
Volume (LiDAR)1,057 m³
Tallest building8.3 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110S0187/00C000 | Wallonia | 1,150 m² | 1 · 171 m² | 8.3 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 acts Capital history · 1
01-04-2026
Founding capital: share_class: catégorie B, subscribed_by: ELOY MANAGEMENT, shares_created: 385
All acts · 1
updated 4 months ago
2026
01-04-2026 Act object · General meeting · Approval · Founding capital
- Act object: Apport en numéraire · ELOY & BECKER
- General meeting: date: 2026-03-13, type: assemblée générale extraordinaire · ELOY & BECKER
- Approval: date: 2026-03-13, item: Rapport de l'organe d'administration sur l'apport en numéraire projeté · ELOY & BECKER
- Founding capital: share_class: catégorie B, subscribed_by: ELOY MANAGEMENT, shares_created: 385 · ELOY & BECKER
- Share distribution: class_A: 5550, class_B: 2335, total_shares: 7885 · ELOY & BECKER
- Share distribution: class: classe A, shares: 5550 · ELOY & BECKER
- Share distribution: class: classe B, shares: 385 · ELOY & BECKER
- Share distribution: class: classe B, shares: 975 · ELOY & BECKER
- Share distribution: class: classe B, shares: 975 · ELOY & BECKER
- Statute amendment: article: 5, content: En rémunération des apports, sept mille huit cent quatre-vingt-cinq (7.885) actions ont été émises. Les actions sont réparties en: - Cinq mille cinq cent cinquante (5.550) actions de classe A, avec droit de vote, donnant droit au bénéfice des réserves de liquidation, pour autant qu'elles soient détenues par Monsieur ELOY David et/ou ses héritiers - deux mille trois cent trente-cinq (2.335) actions de classe B, avec droit de vote, ne donnant pas droit au bénéfice des réserves de liquidation · ELOY & BECKER
- Power of attorney: date: 2026-03-12, type: procuration sous signature privée · GERARDY Luc
- Power of attorney: date: 2026-03-12, type: procuration sous signature privée · GERARDY Luc
- Filing: date: 2026-03-13, notary: Michel HUBIN · ELOY & BECKER
- Registration event: date: 2026-03-19, type: dépôt au greffe · ELOY & BECKER
- Publication: date: 2026-04-01, source: Bijlagen bij het Belgisch Staatsblad - 01/04/2026 - Annexes du Moniteur belge · ELOY & BECKER
- Incorporation: date: 1996-02-06, notary: Jacques ROELANTS de STAPPERS · ELOY & BECKER
- Incorporation: date: 2015-08-18, notary: Olivier WATERKEYN · B4E
- Incorporation: date: 2010-07-07, notary: Renaud LILIEN · ELOY MANAGEMENT
Summary:
Act object · General meeting · Approval · Founding capital
Analysis
Snowflake analysis
financial profile on 5 axes91
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
94
Profitability
100
Solvency
81
Growth
78
Stability
100
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Company registry
Company registry (CBE)
Crossroads BankActivities
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220Interieurarchitecten71112Activiteiten van interieurarchitecten71112Ingenieurs en aanverwante technische adviseurs, exclusief landmeters71121Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts71121
Primary activity highlighted.
Names & trade names
| Legal nameFR | B4E |
Registered office
Rue de l'Etang 40
1410 Waterloo, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.