BUSINESS DEVELOPMENT & INTELLIGENCE
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 3 November 2026.
Annual accounts 2024 filed on 30-09-2025 PDF all 15 filings
Equity
€44,102▼ 69.2%
2023 · €143,132
Total assets
€95,476▼ 61.5%
2023 · €248,072
Net result
-€99,030
2023 · €10,023
Working capital
€40,477▼ 71.3%
2023 · €140,818
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
-€97,138
2024
20182024
Net result
-€99,030
2024
lowest quarter of the sector
20182024
Equity
€44,102
▼ 69.2%
2024
middle half of the sector
20182024
Total assets
€95,476
▼ 61.5%
2024
middle half of the sector
20182024
Debt
€51,374
▼ 51.0%
2024
20182024
Working capital
€40,477
▼ 71.3%
2024
middle half of the sector
20182024
Solvency
46.2%
▼ 11.5pp
2024
middle half of the sector
20182024
Current ratio
1.79
▼ 0.55
2024
middle half of the sector
20182024
Return on assets (ROA)
-103.7%
▼ 107.8pp
2024
lowest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€1,077--€2,915▼ 171%-€1,238▲ 57.5%-€1,642▼ 32.6%€148,985€15,451▼ 89.6%-€97,138
Net result-€5,042--€3,252▲ 35.5%-€2,031below the sector's middle half▲ 37.5%-€1,846below the sector's middle half▲ 9.1%€123,783above the sector's middle half€10,023within the sector's middle half▼ 91.9%-€99,030below the sector's middle half
Equity€16,456-€13,204▼ 19.8%€11,173below the sector's middle half▼ 15.4%€9,327below the sector's middle half▼ 16.5%€133,110within the sector's middle half▲ 14×€143,132within the sector's middle half▲ 7.5%€44,102within the sector's middle half▼ 69.2%
Total assets€20,736-€17,231▼ 16.9%€17,415below the sector's middle half▲ 1.1%€17,009below the sector's middle half▼ 2.3%€350,573within the sector's middle half▲ 21×€248,072within the sector's middle half▼ 29.2%€95,476within the sector's middle half▼ 61.5%
Debt€4,280-€4,028▼ 5.9%€6,242▲ 55.0%€7,682▲ 23.1%€217,463▲ 28×€104,939▼ 51.7%€51,374▼ 51.0%
Working capital€16,456-€13,204▼ 19.8%€11,173within the sector's middle half▼ 15.4%€9,327within the sector's middle half▼ 16.5%€130,663within the sector's middle half▲ 14×€140,818above the sector's middle half▲ 7.8%€40,477within the sector's middle half▼ 71.3%
Solvency79.4%-76.6%▼ 2.7pp64.2%within the sector's middle half▼ 12.5pp54.8%within the sector's middle half▼ 9.3pp38.0%within the sector's middle half▼ 16.9pp57.7%within the sector's middle half▲ 19.7pp46.2%within the sector's middle half▼ 11.5pp
Current ratio4.84-4.28▼ 0.572.79within the sector's middle half▼ 1.492.21within the sector's middle half▼ 0.581.60within the sector's middle half▼ 0.612.34within the sector's middle half▲ 0.741.79within the sector's middle half▼ 0.55
Return on assets (ROA)-24.3%--18.9%▲ 5.4pp-11.7%below the sector's middle half▲ 7.2pp-10.9%below the sector's middle half▲ 0.8pp35.3%above the sector's middle half▲ 46.2pp4.0%within the sector's middle half▼ 31.3pp-103.7%below the sector's middle half▼ 107.8pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a loss of €97,138, after a profit of €15,451 in 2023. It is the lowest result since 2020.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €95,476
Fixed assets
€3,626 ▲ 56.7%
Current assets
€91,850 ▼ 62.6%
Equity and liabilities €95,476
Equity
€44,102 ▼ 69.2%
Debt
€51,374 ▼ 51.0%
Debt's share of the balance-sheet total rises from 42.3% to 53.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€96,202▼
2023 · €16,079
Cash flow
-€98,095▼
2023 · €10,651
Debt to equity
1.16▲
2023 · 0.73
ROE
-224.5%▼
2023 · 7.0%
Interest coverage
-50.81▼
2023 · 9.74
Debt ≤ 1 year
€51,374▼
2023 · €104,939
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | €2,596 | €496 | €2,247 |
| Depreciation and write-downs of the year | - | €150 | €628 | €935 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €150 | €628 | €935 | ▲ 48.9% |
| Other operating charges640/8 | - | - | - | €416 | €547 | €244 | €29 | ▼ 88.0% |
| Gross operating margin9900 | -€1,077 | -€1,294 | -€1,238 | -€1,225 | €149,682 | €16,323 | -€96,173 | - |
| Operating profit (loss)9901 | -€1,077 | -€2,915 | -€1,238 | -€1,642 | €148,985 | €15,451 | -€97,138 | - |
| Financial income75/76B | - | - | - | - | €212 | €559 | €1 | ▼ 99.9% |
| Recurring financial income75 | €0 | - | - | - | €212 | €559 | €1 | ▼ 99.9% |
| Financial charges65/66B | - | - | - | €204 | €1,652 | €1,652 | €1,893 | ▲ 14.6% |
| Recurring financial charges65 | €3,965 | €337 | €793 | €204 | €1,652 | €1,652 | €1,893 | ▲ 14.6% |
| Profit (loss) for the period before taxes9903 | -€5,042 | -€3,252 | -€2,031 | -€1,846 | €147,545 | €14,359 | -€99,030 | - |
| Income taxes67/77 | - | - | - | - | €23,763 | €4,336 | - | - |
| Profit (loss) for the period9904 | -€5,042 | -€3,252 | -€2,031 | -€1,846 | €123,783 | €10,023 | -€99,030 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,042 | -€3,252 | -€2,031 | -€1,846 | €123,783 | €10,023 | -€99,030 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €20,736 | €17,231 | €17,415 | €17,009 | €350,573 | €248,072 | €95,476 | ▼ 61.5% |
| Fixed assets21/28 | - | - | - | - | €2,446 | €2,314 | €3,626 | ▲ 56.7% |
| Tangible fixed assets22/27 | - | - | - | - | €2,446 | €2,314 | €3,626 | ▲ 56.7% |
| Furniture and vehicles24 | - | - | - | - | €2,446 | €2,314 | €3,626 | ▲ 56.7% |
| Current assets29/58 | €20,736 | €17,231 | €17,415 | €17,009 | €348,127 | €245,758 | €91,850 | ▼ 62.6% |
| Amounts receivable within one year40/41 | €17,015 | €17,193 | €16,726 | €16,791 | €289,600 | €103,615 | €80,905 | ▼ 21.9% |
| Trade receivables40 | - | - | - | €16,548 | €282,754 | €98,217 | €75,358 | ▼ 23.3% |
| Other amounts receivable41 | - | - | - | €242 | €6,846 | €5,398 | €5,546 | ▲ 2.8% |
| Current investments50/53 | €1 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €3,721 | €38 | €689 | €219 | €58,527 | €94,151 | €10,946 | ▼ 88.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €47,992 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €20,736 | €17,231 | €17,415 | €17,009 | €350,573 | €248,072 | €95,476 | ▼ 61.5% |
| Equity10/15 | €16,456 | €13,204 | €11,173 | €9,327 | €133,110 | €143,132 | €44,102 | ▼ 69.2% |
| Contributions10/11 | €10,000 | €10,000 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €12,023 | €12,023 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | - | - | - | - | €10,023 | €10,023 | = |
| Profit (loss) carried forward14 | €4,456 | €1,204 | -€827 | -€2,673 | €121,110 | €121,110 | €22,079 | ▼ 81.8% |
| Amounts payable17/49 | €4,280 | €4,028 | €6,242 | €7,682 | €217,463 | €104,939 | €51,374 | ▼ 51.0% |
| Amounts payable within one year42/48 | €4,280 | €4,028 | €6,242 | €7,682 | €217,463 | €104,939 | €51,374 | ▼ 51.0% |
| Trade debts44 | €2,210 | €4,028 | €668 | €908 | €136,309 | €21,303 | €5,994 | ▼ 71.9% |
| Suppliers440/4 | - | - | - | €908 | €136,309 | €21,303 | €5,994 | ▼ 71.9% |
| Taxes, remuneration and social security45 | - | - | - | - | €9,107 | €9,107 | €855 | ▼ 90.6% |
| Taxes450/3 | - | - | - | - | €9,107 | €9,107 | €855 | ▼ 90.6% |
| Other amounts payable47/48 | - | - | - | €6,775 | €72,048 | €74,529 | €44,525 | ▼ 40.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,042 | -€3,252 | -€2,031 | -€1,846 | €123,783 | €10,023 | -€99,030 | - |
| + Depreciation and write-downs630 | - | - | - | - | €150 | €628 | €935 | ▲ 48.9% |
| Operating cash flow (approximation) | -€5,042 | -€3,252 | -€2,031 | -€1,846 | €123,933 | €10,651 | -€98,095 | - |
| Investment in fixed assets (approximation) | - | - | - | - | - | -€496 | -€2,247 | ▼ 353% |
| Change in cash | - | -€3,683 | €650 | -€470 | €58,309 | €35,624 | -€83,206 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 5,831 companies had the same profile as BUSINESS DEVELOPMENT & INTELLIGENCE has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BUSINESS DEVELOPMENT & INTELLIGENCE itself: 1.0% within 12 months.
Test of the method
The method was tested on the 497,446 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 5,831 companies, not a prediction for BUSINESS DEVELOPMENT & INTELLIGENCE. 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.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 30-09-2025 | 2025-00533702 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00500267 | |
| 31-12-2022 | micro format | 31-10-2023 | 2023-00509329 | |
| 31-12-2021 | micro format | 14-06-2022 | 2022-20079251 | |
| 31-12-2020 | micro format | 23-08-2021 | 2021-54600045 | |
| 31-12-2019 | micro format | 21-09-2020 | 2020-54500313 | |
| 31-12-2018 | micro format | 29-07-2019 | 2019-40300080 | |
| 31-12-2017 | micro format | 30-09-2018 | 2018-68200076 | |
| 31-12-2016 | full format | 31-07-2017 | 2017-41200226 | |
| 31-12-2015 | full format | 31-01-2017 | 2017-03000425 |