BlueExpert
ActiveSummary
BlueExpert has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €193,371 and a net result of -€7,451. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 48% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▼-11
Solvency78▼-22
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 5.98 in 2024; short-term debt: 22% and cash: 20% of total assets), and 46.8% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
22 d late
2023
57 d late
2022
16 d late
2021
22 d late
2020
55 d late
2019
45 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 34 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. Usually files around 22 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€193,371▼ 34.2%
2024 · €293,822
Total assets
€363,649▼ 1.8%
2024 · €370,434
Net result
-€7,451
2024 · €23,764
Working capital
€6,806▼ 93.5%
2024 · €103,964
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
Operating result€16,484€26,885▲ 63.1%€14,416▼ 46.4%€38,332▲ 166%-€4,135
Net result€14,523within the sector's middle half€20,330within the sector's middle half▲ 40.0%€4,719within the sector's middle half▼ 76.8%€23,764within the sector's middle half▲ 404%-€7,451below the sector's middle half
Equity€313,209above the sector's middle half▲ 4.9%€339,740above the sector's middle half▲ 8.5%€307,258above the sector's middle half▼ 9.6%€293,822above the sector's middle half▼ 4.4%€193,371within the sector's middle half▼ 34.2%
Total assets€432,264within the sector's middle half▲ 0.6%€410,771within the sector's middle half▼ 5.0%€376,938within the sector's middle half▼ 8.2%€370,434within the sector's middle half▼ 1.7%€363,649within the sector's middle half▼ 1.8%
Debt€119,055▼ 9.2%€71,031▼ 40.3%€69,680▼ 1.9%€76,612▲ 9.9%€170,278▲ 122%
Working capital€113,829within the sector's middle half▲ 47.4%€104,297within the sector's middle half▼ 8.4%€89,417within the sector's middle half▼ 14.3%€103,964within the sector's middle half▲ 16.3%€6,806within the sector's middle half▼ 93.5%
Solvency72.5%within the sector's middle half▲ 3.0pp82.7%above the sector's middle half▲ 10.3pp81.5%above the sector's middle half▼ 1.2pp79.3%within the sector's middle half▼ 2.2pp53.2%within the sector's middle half▼ 26.1pp
Current ratio10.78above the sector's middle half▲ 6.518.13above the sector's middle half▼ 2.645.89above the sector's middle half▼ 2.245.98above the sector's middle half▲ 0.091.09within the sector's middle half▼ 4.90
Return on assets (ROA)3.4%within the sector's middle half▲ 9.4pp4.9%within the sector's middle half▲ 1.6pp1.3%below the sector's middle half▼ 3.7pp6.4%within the sector's middle half▲ 5.2pp-2.0%below the sector's middle half▼ 8.5pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,135 after €38,332 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €363,649
Fixed assets
€276,939 ▲ 12.8%
Current assets
€86,710 ▼ 30.5%
Equity and liabilities €363,649
Equity
€193,371 ▼ 34.2%
Debt
€170,278 ▲ 122%
Debt's share of the balance-sheet total rises from 20.7% to 46.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€38,005▼
2024 · €69,819
Cash flow
€34,689▼
2024 · €55,251
Debt to equity
0.88▲
2024 · 0.26
ROE
-3.9%▼
2024 · 8.1%
Interest coverage
26.49▲
2024 · 19.01
Debt ≤ 1 year
€79,904▲
2024 · €20,873
Debt > 1 year
€90,374▲
2024 · €47,411
Income taxes
€2,345▼
2024 · €10,907
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,915 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,662 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 6,915 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €280 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,672 | €30,067 | €30,878 | €31,487 | €42,140 | ▲ 33.8% |
| Other operating charges640/8 | €1,741 | €2,077 | €3,775 | €2,539 | €6,383 | ▲ 151% |
| Gross operating margin9900 | €47,896 | €59,028 | €49,068 | €72,358 | €44,387 | ▼ 38.7% |
| Operating profit (loss)9901 | €16,484 | €26,885 | €14,416 | €38,332 | -€4,135 | ▼ 111% |
| Financial income75/76B | €1 | €0 | €0 | €12 | €464 | ▲ 3,914% |
| Recurring financial income75 | €1 | €0 | €0 | €12 | €464 | ▲ 3,914% |
| Financial charges65/66B | €153 | €175 | €7,137 | €3,672 | €1,435 | ▼ 60.9% |
| Recurring financial charges65 | €153 | €175 | €7,137 | €3,672 | €1,435 | ▼ 60.9% |
| Non-recurring financial charges66B | - | - | - | - | €1,435 | - |
| Profit (loss) for the period before taxes9903 | €16,331 | €26,710 | €7,279 | €34,671 | -€5,106 | ▼ 115% |
| Income taxes67/77 | €1,809 | €6,380 | €2,561 | €10,907 | €2,345 | ▼ 78.5% |
| Profit (loss) for the period9904 | €14,523 | €20,330 | €4,719 | €23,764 | -€7,451 | ▼ 131% |
| Profit (loss) for the period to be appropriated9905 | €14,523 | €20,330 | €4,719 | €23,764 | -€7,451 | ▼ 131% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €432,264 | €410,771 | €376,938 | €370,434 | €363,649 | ▼ 1.8% |
| Fixed assets21/28 | €306,792 | €291,853 | €269,252 | €245,597 | €276,939 | ▲ 12.8% |
| Intangible fixed assets21 | €1,534 | €213 | - | - | - | - |
| Tangible fixed assets22/27 | €305,257 | €291,639 | €269,252 | €245,597 | €276,939 | ▲ 12.8% |
| Land and buildings22 | €290,572 | €270,696 | €252,611 | €227,111 | €206,822 | ▼ 8.9% |
| Plant, machinery and equipment23 | €7,902 | €14,309 | €11,924 | €15,200 | €15,258 | ▲ 0.4% |
| Furniture and vehicles24 | €6,784 | €6,634 | €4,717 | €3,286 | €54,859 | ▲ 1,569% |
| Current assets29/58 | €125,473 | €118,918 | €107,686 | €124,837 | €86,710 | ▼ 30.5% |
| Amounts receivable within one year40/41 | €15,083 | €14,929 | €41,964 | €21,183 | €14,059 | ▼ 33.6% |
| Trade receivables40 | €15,083 | €14,929 | €41,964 | €21,183 | €14,059 | ▼ 33.6% |
| Cash at bank and in hand54/58 | €110,390 | €103,989 | €65,722 | €102,871 | €72,651 | ▼ 29.4% |
| Deferred charges and accrued income490/1 | - | - | - | €783 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €432,264 | €410,771 | €376,938 | €370,434 | €363,649 | ▼ 1.8% |
| Equity10/15 | €313,209 | €339,740 | €307,258 | €293,822 | €193,371 | ▼ 34.2% |
| Contributions10/11 | €12,400 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €12,400 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €6,200 | - | - | - | - | - |
| Outside capital11 | - | €18,600 | - | - | - | - |
| Share premium1100/10 | - | €18,600 | - | - | - | - |
| Reserves13 | €167,905 | €181,905 | €181,905 | €181,905 | €181,905 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Tax-exempt reserves132 | €37,500 | €37,500 | €37,500 | €37,500 | €37,500 | = |
| Distributable reserves133 | €128,545 | €142,545 | €142,545 | €142,545 | €144,405 | ▲ 1.3% |
| Profit (loss) carried forward14 | €132,904 | €139,234 | €106,753 | €93,317 | -€7,135 | ▼ 108% |
| Amounts payable17/49 | €119,055 | €71,031 | €69,680 | €76,612 | €170,278 | ▲ 122% |
| Amounts payable after more than one year17 | €107,411 | €56,411 | €51,411 | €47,411 | €90,374 | ▲ 90.6% |
| Financial debts170/4 | €107,411 | €56,411 | €51,411 | €47,411 | €90,374 | ▲ 90.6% |
| Amounts payable within one year42/48 | €11,644 | €14,620 | €18,269 | €20,873 | €79,904 | ▲ 283% |
| Trade debts44 | €5,158 | €1,054 | €1,217 | €6,587 | €4,169 | ▼ 36.7% |
| Suppliers440/4 | €5,158 | €1,054 | €1,217 | €6,587 | €4,169 | ▼ 36.7% |
| Advances received on contracts in progress46 | - | - | - | - | €1,215 | - |
| Taxes, remuneration and social security45 | €3,401 | €10,515 | €15,996 | €14,237 | €7,624 | ▼ 46.4% |
| Taxes450/3 | €3,401 | €10,515 | €15,996 | €14,237 | €7,624 | ▼ 46.4% |
| Other amounts payable47/48 | €3,085 | €3,051 | €1,055 | €49 | €66,896 | ▲ 137,829% |
| Accrued charges and deferred income492/3 | - | - | - | €8,328 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,523 | €20,330 | €4,719 | €23,764 | -€7,451 | ▼ 131% |
| + Depreciation and write-downs630 | €29,672 | €30,067 | €30,878 | €31,487 | €42,140 | ▲ 33.8% |
| Operating cash flow (approximation) | €44,194 | €50,397 | €35,596 | €55,251 | €34,689 | ▼ 37.2% |
| Investment in fixed assets (approximation) | - | -€15,128 | -€8,277 | -€7,832 | -€73,482 | ▼ 838% |
| Change in cash | - | -€6,402 | -€38,267 | €37,149 | -€30,220 | ▼ 181% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Back to profitnet €14,523
Net result €14,523 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 10.78
Current ratio from 4.26 to 10.78; short-term debt falls from €23,654 to €11,644.
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
2020
31-12
Financial
Weakest financial yearnet -€25,832
Net result drops to -€25,832, the lowest in the series; recovery starts the following year.
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 45 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 2.60
Current ratio from 1.15 to 2.60; short-term debt falls from €122,046 to €44,743.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 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, Namur · 2 establishment units since 2015
Ground area
2,903 m²
Building footprint
277 m²
Volume, LiDAR
1,410 m³
2 parcels, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Chemin des Marronniers(WP) 15, 5100 Namur
since 20152.242.238.934
BlueExpert
since 20202.313.009.936
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92135B0522/00_000 | Wallonia | 2,122 m² | 1 · 132 m² | 8.8 m · 2 fl. |
| 92135B0521/00G000 | Wallonia | 781 m² | 1 · 145 m² | 5.3 m · 1 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,629. 40,199 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-05-2015
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0629892264
Also
9925:BE0629892264
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.