Candle Research
ActiveCandle Research has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €19k and a net result of €31k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 20% of 37968 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
73
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency45▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.19 against 1.13 in 2023; short-term debt: 55.9% of total assets), and 80.1% of the assets are financed with debt.
Credit advice for your own amount and term
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
Sector 70
lower
← 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 2024Solvency, return and age of the figures
Solvency
19.9%
Return on assets
33.7%
Age of the figures
21 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 37968 sector peers (2024).
NBB · sector comparisonPosition among 37968 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
1 d early
2022
79 d late
2021
28 d late
2020
46 d early
2019
186 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€19k=
2023 · €19k
2018: €-4k
2019: €12k
2020: €22k
2021: €19k
2022: €19k
2023: €19k
2018 → 2024
Total assets
€93k▼ 13.6%
2023 · €108k
2018: €28k
2019: €78k
2020: €76k
2021: €63k
2022: €59k
2023: €108k
2018 → 2024
Net result
€31k▼ 26.8%
2023 · €43k
2018: €27k
2019: €16k
2020: €16k
2021: €16k
2022: €13k
2023: €43k
2018 → 2024
Working capital
€10k▲ 39.6%
2023 · €7k
2018: €11k
2019: €19k
2020: €30k
2021: €17k
2022: €18k
2023: €7k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€22k-€19k▼ 17.5%€19k=€19k=€19k=
Operating result€19k-€24k▲ 28.9%€21k▼ 14.6%€56k▲ 171%€44k▼ 21.2%
Net result€16k-€16k▲ 1.9%€13k▼ 19.8%€43k▲ 227%€31k▼ 26.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 21% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €93k
Fixed assets
€31k▼ 28.9%
Current assets
€62k▼ 3.2%
Equity and liabilities €93k
Equity
€19k=
Debt
€74k▼ 16.4%
The debt ratio falls from 82.8% to 80.1%. Debt is lower.
Key figures and ratios
EBITDA
€57k▼
2023 · €69k
Cash flow
€44k▼
2023 · €55k
Solvency
19.9%▲
2023 · 17.2%
Current ratio
1.19▲
2023 · 1.13
Quick ratio
1.19▲
2023 · 1.13
Debt / equity
4.01▼
2023 · 4.80
ROE
168.8%▼
2023 · 230.6%
ROA
33.7%▼
2023 · 39.7%
Interest coverage
49.39▲
2023 · 39.93
Debt
€74k▼
2023 · €89k
Debt ≤ 1 year
€52k▼
2023 · €57k
Debt > 1 year
€22k▼
2023 · €32k
Income taxes
€12k▼
2023 · €12k
Staff costs
€2k=
2023 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€108k€93k▼
Fixed assets21/28€44k€31k▼
Tangible fixed assets22/27€44k€31k▼
Plant, machinery and equipment23€7k€7k▼
Furniture and vehicles24€6k€4k▼
Leasing and similar rights25€30k€20k▼
Other tangible fixed assets26€330€165▼
Current assets29/58€64k€62k▼
Amounts receivable after more than one year29€500€1k▲
Other amounts receivable291€500€1k▲
Amounts receivable within one year40/41€23k€15k▼
Trade receivables40€23k€15k▼
Current investments50/53-€46k
Cash at bank and in hand54/58€41k-
Equity and liabilities
Total equity and liabilities10/49€108k€93k▼
Equity10/15€19k€19k=
Contributions10/11€19k€19k=
Amounts payable17/49€89k€74k▼
Amounts payable after more than one year17€32k€22k▼
Financial debts170/4€32k€22k▼
Amounts payable within one year42/48€57k€52k▼
Current portion of amounts payable after more than one year42€9k€10k▲
Financial debts43-€3k
Credit institutions430/8-€3k
Trade debts44€3k€1k▼
Suppliers440/4€3k€1k▼
Taxes, remuneration and social security45€9k€8k▼
Taxes450/3€9k€8k▼
Other amounts payable47/48€35k€30k▼
Income statement
Code20232024
Remuneration, social security and pensions62€2k€2k=
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€13k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€73k€61k▼
Operating profit (loss)9901€56k€44k▼
Financial income75/76B€392€133▼
Recurring financial income75€392€133▼
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€55k€43k▼
Income taxes67/77€12k€12k▼
Profit (loss) for the period9904€43k€31k▼
Profit (loss) for the period to be appropriated9905€43k€31k▼
Appropriation of the result
Profit (loss) to be appropriated9906€43k€31k▼
Profit to be distributed694/7€43k€31k▼
Return on contributions (dividend)694€43k€31k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €43k ▲227%
Operating result €56k, net result €43k, both a record.
18-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 79 days late
2022
31-12
Financial
Weakest financial yearnet €13k ▼19.8%
Net result drops to €13k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
02-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 186 days late
2019
19-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 50 days late
2018
04-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 96 days late
02-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 245 days late
22-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 599 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Lede · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oordegemkouter 469340 LedeGround area
2,675 m²
Building footprint
484 m²
Volume, LiDAR
2,619 m³
Parcel 41052B0151/00A000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Candle Research
since 20152.238.081.691
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41052B0151/00A000 | Flanders | 2,675 m² | 1 · 484 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Recognitions · licences · registrations
Legal Entity Identifier
894500QM62JDQ9DNRG83
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Of 82,546 companies in sector 70200 we hold annual accounts for 52,574. 29,768 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded24-12-2014
Fiscal year end31-12
Abbreviation NL
Candle
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
73200Market research and public opinion polling
82100Office administrative and support services
82110Office administrative, office support and other business support activities
82300Organisation of conventions and trade shows
82990Other business support services
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.