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Balrog Consulting

Active
Private limited companyfounded 20242 yrs activeRue de la Croix Limont 11, 5590 Ciney, BelgiumKBO/BCE: BE 1011.198.769
Summary

The computed 12-month bankruptcy probability of Balrog Consulting is 1.5% (moderate). The 2025 annual accounts show equity of €7,628 and a net result of €9,710. Its solvency ranks better than 38% of 7201 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency64▲+64
Growth78
Track record82
Bankruptcy probability, 12 months
1.5% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 1.63; short-term debt: 61.2% and cash: 66.2% of total assets), but 61.2% 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○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
38.8%
Return on assets
49.4%
Age of the figures
9 mo
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 07-07-2026, 24 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
24 d early
2024
15 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 20 days before 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

Balrog Consulting was incorporated on 4 July 2024 as a Private limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€7,628
2024 · -€1,249
Total assets
€19,648▲ 120,000%
2024 · €16
Net result
€9,710
2024 · -€3,249
Working capital
€7,628
2024 · -€1,249
Trend over the years
In euros
In euros
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 73, Advertising, market research and public relations 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.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20242025
Operating result-€3,196-€11,942
Net result-€3,249below the sector's middle half-€9,710within the sector's middle half
Equity-€1,249below the sector's middle half-€7,628below the sector's middle half
Total assets€16below the sector's middle half-€19,648below the sector's middle half▲ 120,000%
Debt€1,266-€12,021▲ 850%
Working capital-€1,249below the sector's middle half-€7,628within the sector's middle half
Solvency38.8%within the sector's middle half
Current ratio1.63within the sector's middle half
Return on assets (ROA)49.4%above the sector's middle half
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
-€5,000€0€5,000€10,000Operating result 2024: -€3,196-€3,196Net result 2024: -€3,249-€3,249Operating result 2025: €11,942€11,942Net result 2025: €9,710€9,71020242025-€5,000€0€5,000€10,000Operating result 2024: -€3,196-€3,200Net result 2024: -€3,249-€3,250Operating result 2025: €11,942€11,900Net result 2025: €9,710€9,71020242025
The operating result returns to profit in 2025: €11,942 after a loss of €3,196 in 2024.
Balance-sheet composition
Equity and liabilities €19,648
Equity €7,628
Debt €12,021
Debt finances 61.2% of the balance-sheet total.
Key figures and ratios
2025 value · change against 2024
Debt to equity
1.58
ROE
127.3%
Debt ≤ 1 year
€12,021▲
2024 · €1,266
Income taxes
€2,172
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.8% went bankrupt
2.3% stopped otherwise
96% 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 1.5% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 39,278 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 35 lines
Balance sheet Code20242025
Assets
Total assets20/58€16€19,648▲
Current assets29/58€16€19,648▲
Amounts receivable within one year40/41€16€6,574▲
Trade receivables40-€422
Other amounts receivable41€16€6,152▲
Cash at bank and in hand54/58-€13,000
Deferred charges and accrued income490/1-€74
Equity and liabilities
Total equity and liabilities10/49€16€19,648▲
Equity10/15-€1,249€7,628▲
Contributions10/11€2,000€2,000=
Profit (loss) carried forward14-€3,249€5,628▲
Amounts payable17/49€1,266€12,021▲
Amounts payable within one year42/48€1,266€12,021▲
Financial debts43€9€305▲
Credit institutions430/8€9€305▲
Trade debts44-€164
Suppliers440/4-€164
Taxes, remuneration and social security45-€10,719
Taxes450/3-€10,719
Other amounts payable47/48€1,256€833▼
Income statement Code20242025
Other operating charges640/8€387€400▲
Gross operating margin9900-€2,809€12,342▲
Operating profit (loss)9901-€3,196€11,942▲
Financial income75/76B-€102
Recurring financial income75-€102
Financial charges65/66B€53€162▲
Recurring financial charges65€53€162▲
Profit (loss) for the period before taxes9903-€3,249€11,882▲
Income taxes67/77-€2,172
Profit (loss) for the period9904-€3,249€9,710▲
Profit (loss) for the period to be appropriated9905-€3,249€9,710▲
Appropriation of the result
Profit (loss) to be appropriated9906-€3,249€6,461▲
Profit (loss) brought forward from the previous period14P--€3,249
Profit to be distributed694/7-€833
Return on contributions (dividend)694-€833

The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Other operating charges640/8€387€400▲ 3.2%
Gross operating margin9900-€2,809€12,342▲ 539%
Operating profit (loss)9901-€3,196€11,942▲ 474%
Financial income75/76B-€102-
Recurring financial income75-€102-
Financial charges65/66B€53€162▲ 206%
Recurring financial charges65€53€162▲ 206%
Profit (loss) for the period before taxes9903-€3,249€11,882▲ 466%
Income taxes67/77-€2,172-
Profit (loss) for the period9904-€3,249€9,710▲ 399%
Profit (loss) for the period to be appropriated9905-€3,249€9,710▲ 399%
Line20242025Change
Assets
Total assets20/58€16€19,648▲ 120,000%
Current assets29/58€16€19,648▲ 120,000%
Amounts receivable within one year40/41€16€6,574▲ 40,083%
Trade receivables40-€422-
Other amounts receivable41€16€6,152▲ 37,504%
Cash at bank and in hand54/58-€13,000-
Deferred charges and accrued income490/1-€74-
Equity and liabilities
Total equity and liabilities10/49€16€19,648▲ 120,000%
Equity10/15-€1,249€7,628▲ 711%
Contributions10/11€2,000€2,000=
Profit (loss) carried forward14-€3,249€5,628▲ 273%
Amounts payable17/49€1,266€12,021▲ 850%
Amounts payable within one year42/48€1,266€12,021▲ 850%
Financial debts43€9€305▲ 3,117%
Credit institutions430/8€9€305▲ 3,117%
Trade debts44-€164-
Suppliers440/4-€164-
Taxes, remuneration and social security45-€10,719-
Taxes450/3-€10,719-
Other amounts payable47/48€1,256€833▼ 33.7%
Line20242025Change
Profit (loss) for the period9904-€3,249€9,710▲ 399%
Operating cash flow (approximation)-€3,249€9,710▲ 399%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
07-07
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial Back to profitnet €9,710
Net result €9,710 after one loss-making year.
31-12
Financial Liquidity times 126current ratio 1.63
Current ratio from 0.01 to 1.63.
16-07
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Ciney · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
3,067 m²
Building footprint
191 m²
Volume, LiDAR
1,036 m³
2 parcels, Wallonia · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Balrog Consulting
Rue Gaston Ragon(B.V.) 21, 5170 ProfondevilleAdvertising agencies
since 20242.361.848.446
2 parcels
Wallonia 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
91030B0205/00_000 Wallonia 2,379 m² - -
92014C0687/00N000 Wallonia 688 m² 1 · 191 m² 8.3 m · 2 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Of 9,851 companies in this sector we hold annual accounts for 3,760. 1,868 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
Founded04-07-2024
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID 0208:1011198769
Also 9925:BE1011198769
Registered 07-09-2026

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.