BE APPROVED
ActiveSummary
BE APPROVED has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€112,302) and a net result of -€21,456. Equity is shrinking by ~22.8% per year across the filed fiscal years. Its solvency ranks better than 6% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▼-1
Solvency0▼-1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.01 against 0.02 in 2024; short-term debt: 126.6% and cash: 1.2% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-32%
Return on assets
-6.1%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€112,302
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
28 d late
2023
59 d late
2022
31 d late
2021
3 d early
2020
20 d late
2019
16 d late
← 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 22 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€13,156
EBIT margin
-93.6%
Net result
-€21,456▼ 7.0%
2024 · -€20,054
Working capital
-€440,152▼ 2.0%
2024 · -€431,557
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20212022202320242025
Turnover€13,156
Operating result-€3,923-€11,762▼ 200%-€12,315▼ 4.7%-€19,562▼ 58.8%-€21,023▼ 7.5%
Net result-€4,809below the sector's middle half▼ 197%-€12,581below the sector's middle half▼ 162%-€13,054below the sector's middle half▼ 3.8%-€20,054below the sector's middle half▼ 53.6%-€21,456below the sector's middle half▼ 7.0%
EBIT margin-93.6%
Equity-€45,157below the sector's middle half▼ 11.9%-€57,739below the sector's middle half▼ 27.9%-€70,792below the sector's middle half▼ 22.6%-€90,846below the sector's middle half▼ 28.3%-€112,302below the sector's middle half▼ 23.6%
Total assets€249,479below the sector's middle half▼ 4.8%€409,855within the sector's middle half▲ 64.3%€424,441within the sector's middle half▲ 3.6%€375,771within the sector's middle half▼ 11.5%€351,278within the sector's middle half▼ 6.5%
Debt€294,636▼ 2.6%€467,594▲ 58.7%€495,233▲ 5.9%€466,618▼ 5.8%€463,580▼ 0.7%
Working capital-€244,807below the sector's middle half▲ 1.1%-€423,904below the sector's middle half▼ 73.2%-€424,413below the sector's middle half▼ 0.1%-€431,557below the sector's middle half▼ 1.7%-€440,152below the sector's middle half▼ 2.0%
Solvency-18.1%below the sector's middle half▼ 2.7pp-14.1%below the sector's middle half▲ 4.0pp-16.7%below the sector's middle half▼ 2.6pp-24.2%below the sector's middle half▼ 7.5pp-32.0%below the sector's middle half▼ 7.8pp
Current ratio0.02below the sector's middle half=0.01below the sector's middle half▼ 0.010.08below the sector's middle half▲ 0.070.02below the sector's middle half▼ 0.060.01below the sector's middle half▼ 0.01
Return on assets (ROA)-1.9%below the sector's middle half▼ 1.3pp-3.1%below the sector's middle half▼ 1.1pp-3.1%below the sector's middle half=-5.3%below the sector's middle half▼ 2.3pp-6.1%below the sector's middle half▼ 0.8pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21,023 in 2025 against €19,562 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €351,278
Fixed assets
€346,887 ▼ 5.3%
Current assets
€4,391 ▼ 52.9%
Key figures and ratios
EBITDA
-€1,457▼
2024 · €5
Cash flow
-€1,889▼
2024 · -€488
Debt to equity
-4.13▲
2024 · -5.14
Interest coverage
-3.37▼
2024 · 0.01
Debt ≤ 1 year
€444,543▲
2024 · €440,875
Debt > 1 year
€19,038▼
2024 · €25,743
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,799 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
1.9%
went bankrupt
5.9%
stopped otherwise
90%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,662 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% | 1.7% |
| 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 75% 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 2,799 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €13,156 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €4,323 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,575 | €21,374 | €19,566 | €19,566 | €19,566 | = |
| Other operating charges640/8 | €1,255 | €1,552 | €1,582 | €2,033 | €2,097 | ▲ 3.2% |
| Gross operating margin9900 | €13,907 | €11,164 | €8,833 | €2,038 | €641 | ▼ 68.6% |
| Operating profit (loss)9901 | -€3,923 | -€11,762 | -€12,315 | -€19,562 | -€21,023 | ▼ 7.5% |
| Financial charges65/66B | €885 | €819 | €738 | €493 | €433 | ▼ 12.2% |
| Recurring financial charges65 | €885 | €819 | €738 | €493 | €433 | ▼ 12.2% |
| Profit (loss) for the period before taxes9903 | -€4,809 | -€12,581 | -€13,054 | -€20,054 | -€21,456 | ▼ 7.0% |
| Profit (loss) for the period9904 | -€4,809 | -€12,581 | -€13,054 | -€20,054 | -€21,456 | ▼ 7.0% |
| Profit (loss) for the period to be appropriated9905 | -€4,809 | -€12,581 | -€13,054 | -€20,054 | -€21,456 | ▼ 7.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €249,479 | €409,855 | €424,441 | €375,771 | €351,278 | ▼ 6.5% |
| Fixed assets21/28 | €245,189 | €405,586 | €386,020 | €366,453 | €346,887 | ▼ 5.3% |
| Tangible fixed assets22/27 | €245,189 | €405,586 | €386,020 | €366,453 | €346,887 | ▼ 5.3% |
| Land and buildings22 | €243,368 | €405,586 | €386,020 | €366,453 | €346,887 | ▼ 5.3% |
| Plant, machinery and equipment23 | €658 | - | - | - | - | - |
| Furniture and vehicles24 | €1,163 | - | - | - | - | - |
| Current assets29/58 | €4,290 | €4,269 | €38,422 | €9,318 | €4,391 | ▼ 52.9% |
| Amounts receivable within one year40/41 | - | €118 | €766 | €1,765 | €295 | ▼ 83.3% |
| Trade receivables40 | - | - | €766 | €1,500 | - | - |
| Other amounts receivable41 | - | €118 | - | €265 | €295 | ▲ 11.4% |
| Cash at bank and in hand54/58 | €4,290 | €4,151 | €37,656 | €7,554 | €4,096 | ▼ 45.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €249,479 | €409,855 | €424,441 | €375,771 | €351,278 | ▼ 6.5% |
| Equity10/15 | -€45,157 | -€57,739 | -€70,792 | -€90,846 | -€112,302 | ▼ 23.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€63,757 | -€76,339 | -€89,392 | -€109,446 | -€130,902 | ▼ 19.6% |
| Amounts payable17/49 | €294,636 | €467,594 | €495,233 | €466,618 | €463,580 | ▼ 0.7% |
| Amounts payable after more than one year17 | €43,975 | €38,861 | €32,350 | €25,743 | €19,038 | ▼ 26.0% |
| Financial debts170/4 | €42,275 | €35,861 | €29,350 | €22,743 | €19,038 | ▼ 16.3% |
| Other amounts payable178/9 | €1,700 | €3,000 | €3,000 | €3,000 | - | - |
| Amounts payable within one year42/48 | €249,096 | €428,173 | €462,835 | €440,875 | €444,543 | ▲ 0.8% |
| Current portion of amounts payable after more than one year42 | €6,320 | €6,415 | €6,510 | €6,607 | €6,706 | ▲ 1.5% |
| Trade debts44 | €1,540 | €2,342 | €1,372 | €1,572 | €3,298 | ▲ 110% |
| Suppliers440/4 | €1,540 | €2,342 | €1,372 | €1,572 | €3,298 | ▲ 110% |
| Taxes, remuneration and social security45 | €356 | - | €63 | - | - | - |
| Taxes450/3 | €356 | - | €63 | - | - | - |
| Other amounts payable47/48 | €240,880 | €419,416 | €454,891 | €432,695 | €434,540 | ▲ 0.4% |
| Accrued charges and deferred income492/3 | €1,564 | €560 | €48 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,809 | -€12,581 | -€13,054 | -€20,054 | -€21,456 | ▼ 7.0% |
| + Depreciation and write-downs630 | €16,575 | €21,374 | €19,566 | €19,566 | €19,566 | = |
| Operating cash flow (approximation) | €11,767 | €8,793 | €6,513 | -€488 | -€1,889 | ▼ 287% |
| Investment in fixed assets (approximation) | - | -€181,771 | €0 | €0 | €0 | - |
| Change in cash | - | -€139 | €33,505 | -€30,102 | -€3,457 | ▲ 88.5% |
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
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€21,456
Net result drops to -€21,456, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 20 days late
2020
16-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 16 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
02-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Waterloo
Ground area
702 m²
Building footprint
118 m²
Volume, LiDAR
1,164 m³
Parcel 25110B0591/00T006, Wallonia · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110B0591/00T006 | Wallonia | 702 m² | 1 · 118 m² | 12.2 m · 3 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-03-2006
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0880120293
Registered
31-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.