Equity
Equity fell by 97% in 2 years.
Equity fell by 97% in 2 years.
The result rose in 2025 from -€103,141 to -€27,630.
Short-term debts rose from €13,117 to €17,947.
The last five annual accounts were filed 22 to 52 days before the end of the period.
Lower net result than 95% of companies in head offices and management consultancy. Sector median €27,142 · 39,376 companies.
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
The dashed line is the sector median: 0.1% across 48,568 companies (NACE 70, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 23% of them on solvency, 16% on liquidity, 4% on profitability and 6% on growth.
The bankruptcy probability was computed on 07-11-2026 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).
In July 2024, 1,133 companies had the same profile as Bixela has now. Each dot stands for 3 companies, two years later.
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Bixela itself is lower: 0.1% within 12 months. It rests on far more data about Bixela than the profile alone.
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 1,133 companies, not a prediction for Bixela. 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.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is tight, with a current ratio of 1.04 (2.8 in 2024), below the usual 1.5. Short-term debt is 80.8% and cash 23.1% of total assets. 80.8% of the assets are financed with debt and provisions.
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.
The company filed its last 5 accounts on average 31 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Bixela Walcourt | €22,209 | -€21,133 | 19.2% | - |
| EURO MANAGE Namur | €18,377 | -€257 | 0.7% | - |
| QUALITYD Gembloux | €22,877 | -€16,767 | -7.2% | - |
| BLUE TALENTS Namur | €24,694 | -€1,513 | 85.6% | - |
| GRALEM Watermael-Boitsfort | €21,736 | -€16,087 | -1737.0% | - |
| GB-projects Roeselare | €21,492 | €633 | 8.8% | - |
| STRATEGY W Woluwe-Saint-Lambert | €22,496 | -€68,936 | -16.1% | - |
These companies have the same main activity as Bixela: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €18,400 and €24,700, founded between 2019 and 2022.
Bixela files the micro format. That format states no turnover. The gross margin fell from €69,980 in 2021 to -€21,133 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 23% of 39,360 companies in 2025.
Higher than 26% of 38,044 companies in 2025.
Lower than 95% of 38,516 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
22,209 | 45,009 | 175,527 | 174,580 | 77,576 | |
20 |
- | - | - | 0 | 49 | |
21/28 |
3,526 | 8,268 | 11,069 | 8,641 | 24,892 | |
22/27 |
3,526 | 8,268 | 11,069 | 8,641 | 24,892 | |
24 |
3,526 | 8,268 | 11,069 | 8,641 | 11,226 | |
27 |
- | - | - | 0 | 13,666 | |
29/58 |
18,684 | 36,741 | 164,458 | 165,939 | 52,635 | |
40/41 |
10,094 | 23,116 | 21,125 | 59,245 | 15,935 | |
40 |
7,501 | 7,910 | 17,796 | 55,976 | 15,846 | |
41 |
2,593 | 15,207 | 3,329 | 3,269 | 89 | |
54/58 |
5,122 | 9,789 | 139,694 | 103,774 | 36,454 | |
490/1 |
3,468 | 3,835 | 3,639 | 2,920 | 246 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
22,209 | 45,009 | 175,527 | 174,580 | 77,576 | |
10/15 |
4,262 | 31,892 | 135,033 | 93,681 | 48,734 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
14 |
-738 | 26,892 | 130,033 | 88,681 | 43,734 | |
17/49 |
17,947 | 13,117 | 40,494 | 80,899 | 28,842 | |
42/48 |
17,947 | 13,117 | 39,744 | 80,899 | 28,842 | |
44 |
7,319 | 9,684 | 3,169 | 26,255 | 1,313 | |
440/4 |
7,319 | 9,684 | 3,169 | 26,255 | 1,313 | |
46 |
- | - | 0 | 14,598 | - | |
45 |
10,628 | 3,433 | 36,575 | 40,046 | 27,529 | |
450/3 |
8,628 | 3,433 | 34,575 | 38,046 | 25,529 | |
454/9 |
2,000 | 0 | 2,000 | 2,000 | 2,000 | |
492/3 |
- | 0 | 749 | - | - | |
| Income statement | ||||||
76A |
- | - | 0 | 45 | - | |
9900 |
-21,133 | -95,411 | 60,590 | 63,378 | 69,980 | |
630 |
4,519 | 5,439 | 3,622 | 2,634 | 2,181 | |
640/8 |
576 | 801 | 970 | 1,070 | - | |
9901 |
-26,227 | -101,651 | 55,999 | 59,674 | 67,799 | |
75/76B |
0 | - | - | - | - | |
75 |
0 | - | - | - | - | |
65/66B |
999 | 987 | 1,146 | 657 | 489 | |
65 |
999 | 987 | 1,146 | 657 | 489 | |
9903 |
-27,226 | -102,638 | 54,853 | 59,017 | 67,310 | |
67/77 |
404 | 503 | 13,501 | 14,070 | 14,261 | |
9904 |
-27,630 | -103,141 | 41,352 | 44,947 | 53,049 | |
9905 |
-27,630 | -103,141 | 41,352 | 44,947 | 53,049 | |
| Appropriation of the result | ||||||
9906 |
-738 | 26,892 | 130,033 | 88,681 | 53,049 | |
14P |
26,892 | 130,033 | 88,681 | 43,734 | - | |
694/7 |
- | - | - | 0 | 9,315 | |
694 |
- | - | - | 0 | 9,315 | |
| Document | ||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 03-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-07-2026 | 2026-00257557 | |
| 31-12-2024 | micro format | 09-07-2025 | 2025-00262020 | |
| 31-12-2023 | micro format | 06-07-2024 | 2024-00228438 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00210800 | |
| 31-12-2021 | micro format | 09-06-2022 | 2022-20056595 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| -21,709 | -96,212 | 59,620 | 62,308 | 69,980 | ||
| -23,111 | -97,703 | 44,974 | 47,581 | 55,231 | ||
| -224 | 2,638 | 6,049 | -13,617 | 26,126 | ||
| -4,668 | -129,904 | 35,920 | 67,320 | - | ||
| 736 | 23,624 | 124,714 | 85,040 | 23,793 | ||
| 19.2% | 70.9% | 76.9% | 53.7% | 62.8% | ||
| 1.04 | 2.80 | 4.14 | 2.05 | 1.82 | ||
| 4.21 | 0.41 | 0.30 | 0.86 | 0.59 | ||
| -648.3% | -323.4% | 30.6% | 48.0% | 108.9% | ||
| -124.4% | -229.2% | 23.6% | 25.7% | 68.4% | ||
| -21.73 | -97.50 | 52.04 | 94.79 | over 100 |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,638 | €6,049 | - | €26,126 |
| €4,519 | €5,439 | €3,622 | €2,634 | €2,181 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €26,227, smaller than the loss of €101,651 in 2024.
Debt's share of the balance-sheet total rises from 29.1% to 80.8%. Equity is lower and debt is higher.
Bixela has no parent and no holdings in its annual accounts. Quentin BOLLE is the only director.
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 20 January 2021, Bixela was incorporated as a private limited company by one natural person, with a starting capital of €5,000.12 Quentin BOLLE has served as director since 2021.3 Total assets went from €77,576 in 2021 to €22,209 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Rue de la Gare 5 registered office 5650 Walcourt | 20-01-2021 | 2.312.134.857 |
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