Equity
€45,145 from €264,373 in 2024
Equity fell by 83% in 1 year.
BCMD
Overview
Lifetime
4 annual accounts with figures on one time axispeak €184,116 (2025)
€184,116▲ 3.8%
peak €140,772 (2025)
€140,772▲ 6.4%
peak €264,373 (2024)
€45,145▼ 82.9%
€37,201▼ 40.7%
Board1 name since 2022
1 directorDELNOY Michel François Arthur Jules
Documentsfilings and deeds
10-05-202682 days before the deadline
2025micro format
Dividend €360,000Equity from €264,373 to €45,145Debts from €62,714 to €37,201Cash from €136,645 to €50,435
Key points
from the 2025 annual accountsTurnover
≈ €320,000 estimated
The micro format states no turnover.
Liquidity
2.00 was 6.01 in 2024
Short-term debts fell from €52,714 to €37,201.
Filings
4 annual accounts 1 late
The 2022 accounts came 3 days late. The other three were filed on time.
Starting capital
€3,000
Position in the sector
€140,772
Higher net result than 87% of companies in legal and accounting. Sector median €37,394 · 15,826 companies.
Checked score
94
Excellent
Financially stronger than 51% of micro companies in legal and accounting (NACE 69)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: < 0.1% across 20,107 companies (NACE 69, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026highest value
07-2026: < 0.1%● unchanged vs 06-2026highest value
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Sector: Legal and accounting activities (NACE 69)
Liquidity: current ratio 2.00, cash €50,435, halved
Size: total assets €82,346
Figures for financial year 2025 (filed on 10-05-2026)
Calculation
The band follows from the bankruptcy probability. 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 69, micro). It does better than 51% of them on solvency, 67% on liquidity, 82% on profitability and 6% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 39,278 companies had the same profile as BCMD has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BCMD itself is lower: < 0.1% within 12 months. It rests on far more data about BCMD than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for BCMD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €4,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.0 (6.01 in 2024), above the usual 1.5. Short-term debt is 45.2% and cash 61.2% of total assets. 45.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers 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 10-05-2026, 82 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
82 days early
2024
91 days early
2023
47 days early
2022
3 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 54 days before the deadline. In the sector (NACE 69), the median for financial year 2024 was 9 days before the deadline, and 32% 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 28 May (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0793881256
Incorporation
Founding capital of €3,000 · Founder: DELNOY Michel François Arthur Jules · Appointment: DELNOY Michel François Arthur Jules (director) · published on 25-11-2022 · Gazette deed
First establishment
Rue de la Faille 47, Liège
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BCMD Liège | €82,346 | €184,116 | 54.8% | - |
| Carmen Puscas - Avocat Schaerbeek | €93,119 | €171,309 | 14.8% | - |
| Veerle Van Keirsbilck Ypres | €80,939 | €160,452 | 65.4% | - |
| AVI Consult Bierbeek | €107,605 | €172,713 | 14.2% | - |
| Ravens.law Brussels | €81,160 | €142,925 | 79.4% | - |
| Charles-Henri Bernard Ixelles | €81,364 | €220,509 | 12.8% | - |
| JFM AVOCAT Liège | €96,834 | €123,578 | 3.6% | - |
These companies have the same main activity as BCMD: activities of lawyers (NACE 69101). They are comparable in size and age: total assets between €80,900 and €108,000, founded in 2021.
Official details
Source: KBO- Status
- Active since 23-11-2022Normal situation
- Activity
- Activities of lawyersNACE 69101
- Establishment unit
- 2.338.807.3824000 Liège, since 23-11-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 17-12-2025
Annual accounts 2025
- €184,116▲ 3.8%
- €140,772▲ 6.4%
- €45,145▼ 82.9%
- €82,346▼ 74.8%
- Filing
- Filed on 10-05-2026, 82 days before the end of the filing period
Insights on BCMD
BCMD files the micro format. That format states no turnover. The gross margin rose from €20,373 in 2022 to €184,116 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 10-05-2026, 82 days before the deadline€184,116
▲ 3.8%
€178,492
▲ 4.8%
€140,772
▲ 6.4%
€37,094
▼ 85.9%
54.8%
▼ 26.0 percentage points
2.00
▼ 4.01
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €320,000. Estimated: probably between €250,000 and €480,000.
Balance sheet
balance sheet total €82,346 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
54.8%
Higher than 48% of 15,824 companies in 2025.
2.00
Higher than 46% of 15,596 companies in 2025.
171.0%
Higher than 95% of 15,713 companies in 2025.
BCMD
Middle half of the sector
80% of the sector
Micro accounts in legal and accounting (NACE 69)
Net result: top quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
82,346 | 327,087 | 185,989 | 32,243 | |
20 |
- | - | - | 0 | |
21/28 |
8,051 | 10,442 | - | - | |
22/27 |
8,051 | 10,442 | - | - | |
24 |
8,051 | 10,442 | - | - | |
29/58 |
74,295 | 316,645 | 185,989 | 32,243 | |
40/41 |
- | - | 18,150 | 0 | |
40 |
- | - | 18,150 | 0 | |
41 |
- | - | 0 | 0 | |
50/53 |
- | 180,000 | - | - | |
54/58 |
50,435 | 136,645 | 167,839 | 32,243 | |
490/1 |
23,860 | - | - | - | |
| Balance sheet: equity and liabilities | |||||
10/49 |
82,346 | 327,087 | 185,989 | 32,243 | |
10/15 |
45,145 | 264,373 | 132,092 | 18,275 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
13 |
42,100 | 242,100 | 120,000 | 15,000 | |
132 |
42,100 | 42,100 | - | - | |
133 |
- | 200,000 | 120,000 | 15,000 | |
14 |
45 | 19,273 | 9,092 | 275 | |
17/49 |
37,201 | 62,714 | 53,898 | 13,967 | |
42/48 |
37,201 | 52,714 | 53,898 | 13,967 | |
44 |
1,786 | 1,784 | 968 | 926 | |
440/4 |
1,786 | 1,784 | 968 | 926 | |
45 |
13,954 | 41,414 | 46,224 | 13,041 | |
450/3 |
13,954 | 41,414 | 46,224 | 13,041 | |
454/9 |
- | - | 0 | 0 | |
47/48 |
21,461 | 9,516 | 6,705 | - | |
492/3 |
- | 10,000 | - | - | |
| Income statement | |||||
9900 |
184,116 | 177,315 | 149,293 | 20,373 | |
60/61 |
- | 80,040 | 82,932 | 9,627 | |
630 |
5,056 | 4,487 | - | 0 | |
640/8 |
568 | 2,495 | 515 | - | |
66A |
- | - | 0 | - | |
9901 |
178,492 | 170,333 | 148,779 | 20,373 | |
75/76B |
5,580 | 1,965 | 0 | - | |
75 |
5,580 | 1,965 | 0 | - | |
65/66B |
48 | 86 | 720 | 6 | |
65 |
48 | 86 | 720 | 6 | |
9903 |
184,024 | 172,212 | 148,059 | 20,367 | |
67/77 |
43,252 | 39,930 | 34,243 | 5,092 | |
9904 |
140,772 | 132,282 | 113,816 | 15,275 | |
689 |
- | 42,100 | - | - | |
9905 |
140,772 | 90,182 | 113,816 | 15,275 | |
| Appropriation of the result | |||||
9906 |
160,045 | 99,273 | 114,092 | 15,275 | |
14P |
19,273 | 9,091 | 275 | - | |
791/2 |
200,000 | - | - | - | |
691/2 |
- | 80,000 | 105,000 | 15,000 | |
6921 |
- | 80,000 | 105,000 | 15,000 | |
694/7 |
360,000 | - | - | - | |
694 |
360,000 | - | - | - | |
| Document | |||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 10-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 183,548 | 174,820 | - | 20,373 | ||
| 145,828 | 136,769 | - | 15,275 | ||
| 2,665 | 14,929 | - | - | ||
| -86,210 | -31,194 | 135,597 | - | ||
| 37,094 | 263,931 | 132,092 | 18,275 | ||
| 54.8% | 80.8% | 71.0% | 56.7% | ||
| 2.00 | 6.01 | 3.45 | 2.31 | ||
| 0.82 | 0.24 | 0.41 | 0.76 | ||
| 311.8% | 50.0% | 86.2% | 83.6% | ||
| 171.0% | 40.4% | 61.2% | 47.4% | ||
| over 100 | over 100 | - | over 100 | ||
| - | 8 days | 4 days | 35 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €2,665 | €14,929 | - | - |
| €5,056 | €4,487 | - | €0 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on BCMD
The operating result for 2025 is 5% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Debt's share of the balance-sheet total rises from 19.2% to 45.2%. Equity and debt are lower.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
since 23-11-2022
term without a fixed end
listed in the 2025 annual accounts, filed on 10-05-2026
Mandates through the years
1 name, the dashed line is todayDELNOY Michel François Arthur Jules
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- DELNOY Michel François Arthur Jules
- Director (not named in the articles), from 23-11-2022 to date
Control
Capital
- Contribution
- €3,000
- Source
- deed of 25-11-2022
Articles of association
deed of 25-11-2022 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Acquisition qualité d’actionnaire implique adhésion aux statuts et engagement de respecter règlements nationaux et d’arrondissement de…”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Fourth Thursday of June at 18:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Founder
At incorporation
deed of 25-11-2022 ↗
- DELNOY Michel François Arthur Jules sole founder · 100% at incorporation
Network & group
No group
BCMD has no parent and no holdings in its annual accounts. DELNOY Michel François Arthur Jules is the only director.
Board mandates elsewhere
1 board mandateBoard mandates of BCMDBCMD sits on their board1
Connections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Timeline
10 events since 2022Filings
Financial
Establishments
20222023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed PDFmicro format · 82 days before the deadline
2025
Highest result from 2022 to 2025 net €140,772 ▲6.4% The operating result of €178,492 and the net result of €140,772 are both a record.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0793881256
Annual accounts 2024 filed PDFmicro format · 91 days before the deadline
2024
Equity above €200,000 equity €264,373 ▲100% With a profit in every financial year since 2022, equity grows to €264,373.
Annual accounts 2023 filed PDFmicro format · 47 days before the deadline
2023
Equity above €100,000 equity €132,092 ▲623% With a profit in every financial year since 2022, equity grows to €132,092.
Annual accounts 2022 filed PDFmicro format · 3 days late
2022
IncorporationFounding capital of €3,000 · Founder: DELNOY Michel François Arthur Jules · Appointment: DELNOY Michel François Arthur Jules (director) · published on 25-11-20226 points ▸
- Founder, DELNOY Michel François Arthur Jules
- Founding capital, €3,000
- 120 shares
- Registered office clause, rue de la Faille 47, 4000 Liège
- Board rule, 1
- Director appointment, DELNOY Michel François Arthur Jules (director (not named in the articles))
- The deed holds 2 more points.
First establishment Rue de la Faille 47, Liège
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
BCMD was incorporated on 23 November 2022 as a private limited company by one natural person, with a starting capital of €3,000.12 Since 2022, DELNOY Michel François Arthur Jules has served as director.3 Total assets rose from €32,243 in 2022 to €82,346 in 2025.4
Company details
Identity
- Enterprise number
- 0793.881.256
- VAT number
- BE 0793.881.256
- Peppol ID
- 0208:0793881256
- Other Peppol ID
- 9925:BE0793881256
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 23-11-2022
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Fourth Thursday of June at 18:00deed of 25-11-2022 (in French)
- Peppol
- Reachable since 17-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- BCMD in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 25-11-2022 (in French)
Activities
NACEBEL 202569101
Activities of lawyers main activity
Codes under NACEBEL 2008
69101
Activities of lawyers main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “La société a pour objet l’exercice de la profession d’avocat et toutes activités connexes conciliables avec le statut d’avocat,tels que…”deed of 25-11-2022 (in French)
5 activities
- La société a pour objet l’exercice de la profession d’avocat et toutes activités connexes conciliables avec le statut d’avocat,tels que l’organisation de cours,la publication d’articles et de livres et l’intervention en qualité d’arbitre dans des conflits d’arbitrage,de médiateur,de mandataire judiciaire,d’administrateur,de liquidateur et de curateur,ainsi que l’exécution de missions judiciaires,dans le sens le plus large du mot
- La société peut faire,par elle-même,ou en coopération avec d’autres,soit directement,soit indirectement,pour son compte propre ou pour le compte de tiers,toutes opérations mobilières,immobilières ou financières se rapportant directement ou indirectement à la profession d’avocat ainsi qu’à tout ce qui peut s’en rapprocher ou en améliorer ou favoriser le développement
- La société peut organiser toutes journées d’études,séminaires,conférences,dîners d’affaires,réceptions,dîners et toutes activités similaires au profit de ses clients et relations d’affaires
- La société peut également acquérir des biens mobiliers et immobiliers comme investissement et faire toutes opérations d’administration et de gestion,même si celles-ci n’ont aucun rapport direct ou indirect avec l’exercice de la profession d’avocat
- La société peut se porter garant ou donner d’autres garanties au profit des tiers
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Rue de la Faille 47 registered office 4000 Liège | 23-11-2022 | 2.338.807.382 |
Buildings and parcels at the address
- Ground area
- 315 m²
- Buildings
- 92 m²
- Volume, LiDAR
- 916 m³
- Tallest building
- 11.4 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 62804D0382/00Y004 | 315 m² | 1 · 92 m² | 11.4 m · 3 |