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Complete company report
Generated 15-08-2026
Active BE 0806.789.283Int'l non-profit association

CASI INSTITUTE

Tervurenlaan 168 ·1150 Sint-Pieters-Woluwe, Belgium· 17 yrs active
Sector: Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies (70200)
Conclusion Checked

The computed 12-month bankruptcy probability of CASI INSTITUTE is < 0.1% (very low). The 2023 annual accounts show equity of €136k and a net result of €25k. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 56% of 830 sector peers (fiscal year 2023). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.
Key figures
Equity €136k
Net result €25k
Better than sector 56%
Active 17 yrs
Financial profile 5 of 5 axes measured · computed by Checked
Health93Profitability93Solvency96Growth78Stability100
92 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93
Profitability 93
Solvency 96
Growth 78
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
< 0.1% Very low
0%0,5%1,5%4%10%≥25%
Lower-risk legal form −Lower-failure-rate sector −Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 2 signals
Established
Founded in 2008, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags0 events
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Health barometer FY 2023 · computed
93 / 100 Excellent
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.
Financial overview9 NBB filings
Annual accounts filed on 25-06-2024 with the NBB · fiscal year 2023 · volledig
€-150k€-100k€-50k€0€50kOperating result 2019: €-31k€-31kNet result 2019: €-124k€-124kOperating result 2020: €-13k€-13kNet result 2020: €-138k€-138kOperating result 2021: €33k€33kNet result 2021: €32k€32kOperating result 2022: €21k€21kNet result 2022: €21k€21kOperating result 2023: €25k€25kNet result 2023: €25k€25k20192020202120222023
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~16.4%/year over 6 fiscal years, indicative, assuming unchanged policy.
€50k€100k€150k€200k€250k2024: €150k (€138k - €162k)2025: €174k (€156k - €193k)2026: €203k (€177k - €229k)2018: €131k2019: €70k2020: €57k2021: €89k2022: €111k2023: €136k201820192020202120222023202420252026
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2023 · NACE 70, Head offices & management consulting · compared within the same schema type (full schema)
Metric This company Sector median Position in the sector
Solvency 48.3% 41.2%
better than 56% of 830 sector peers
Net result €25k €28k
better than 48% of 831 sector peers
Equity €136k €160k
better than 47% of 832 sector peers
Gross operating margin €25k €52k
better than 37% of 672 sector peers
Total assets €281k €785k
better than 34% of 830 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Net profit
€25k
+17.7% 18-23
Total assets
€281k
+42.9% 18-23
Equity
€136k
+22.8% 18-23
Working capital
€166k
+17.9% 18-23
Debt
€115k
+105.6% 18-23
Debt ≤ 1y
€115k
+105.6% 18-23
Current ratio
2.44
-30.5% 18-23
Quick ratio
2.44
-30.5% 18-23
Show 4 other metrics
Solvency
48.3%
-14.1% 18-23
Debt / equity
0.85
+67.5% 18-23
ROE
18.6%
-4.2% 18-23
ROA
9.0%
-17.7% 18-23
Figures by fiscal year
Fiscal year2023
Depositvolledig
Revenue-
EBITDA-
Net profit€25k
Cash flow-
Staff costs-
Income taxes-
Dividends-
Total assets€281k
Equity€136k
Debt€115k
of which ≤ 1y€115k
of which > 1y-
Working capital€166k
Employees (FTE)-
Ratios (computed)
2023
Current ratio2.44
Quick ratio2.44
Working capital ratio59.0%
Solvency48.3%
Debt / equity0.85
Long-term debt ratio-
Interest coverage-
Gross margin-
Net margin-
ROA9.0%
ROE18.6%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts (18 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€281k
Current assets 29/58€281k
Amounts receivable within one year 40/41€203k
Cash & bank 54/58€78k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€281k
Equity 10/15€136k
Contributions / capital 10/11€194k
Accumulated profits (losses) 14€-59k
Provisions & deferred taxes 16€30k
Amounts payable 17/49€115k
Amounts payable within one year 42/48€115k
Trade debts payable within one year 44€72k
Income statement
Gross operating margin 9900€25k
Operating result 9901€25k
Financial charges 65€168
Result before taxes 9903€25k
Net result for the period 9904€25k
Result to be appropriated 9905€25k
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 4 directors
Former directors (4)
  • BOZELLegal entity
    Director (executive)· perm. rep.: Antonio Jacob
    State Gazette act 25028987 (28-02-2025)
    Former
    - → 28-02-2025
  • FERROGLOBELegal entity
    Director (executive)· perm. rep.: Marcela Troncoso
    State Gazette act 25028987 (28-02-2025)
    Former
    - → 28-02-2025
  • OFZLegal entity
    Director (executive)· perm. rep.: Branislav Klocok
    State Gazette act 25028987 (28-02-2025)
    Former
    - → 28-02-2025
  • RIMALegal entity
    Director (executive)· perm. rep.: Jonas Ribeiro Faria
    State Gazette act 25028987 (28-02-2025)
    Former
    - → 28-02-2025
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Legal Structure
NACE primary Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies(70200)
Legal form Int'l non-profit association(125)
Incorporation02-10-2008
StatusActive
Postal code1150
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21019A0206/00R005
ProtectedMonumentArt-nouveauherenhuisSource ↗
 Brussels 2,566 m² 1 · 974 m² 28.5 m · 9 fl.
Methodology
via registered seat: 1
1 of 1 parcels 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).
Updates 10 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
28-02-2025
State Gazette act Director changes
2024
25-06-2024
NBB filing Annual accounts filed
fiscal year 2023 · volledig
2023
03-07-2023
NBB filing Annual accounts filed
fiscal year 2022 · volledig
2022
23-08-2022
NBB filing Annual accounts filed
fiscal year 2021 · volledig
2021
22-10-2021
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2020
26-06-2020
NBB filing Annual accounts filed
fiscal year 2019 · volledig
2019
04-09-2019
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2018
10-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · volledig
2017
21-06-2017
NBB filing Annual accounts filed
fiscal year 2016 · volledig
2016
02-08-2016
NBB filing Annual accounts filed
fiscal year 2015 · volledig
Belgian State Gazette reading coverage 0 of 8 acts read

We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts
All acts · 1 updated 1 year ago
2025
28-02-2025 4 resigning, 6 reappointed Director changes
  • Branislav Klocok, Directeur
  • Antonio Jacob, Directeur
  • Jonas Ribeiro Faria, Directeur
  • Marcela Troncoso, Directeur
  • Branislav Klocok, Directeur
  • Antonio Jacob, Directeur
  • Jonas Ribeiro Faria, Directeur
  • Marcela Troncoso, Directeur
Technical details 
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Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Activities
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220Adviesbureaus op het gebied van public relations en communicatie70210Ingenieurs en aanverwante technische adviseurs, exclusief landmeters71121Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts71121Markt- en opinieonderzoekbureaus73200Markt- en opinieonderzoek73200Activiteiten van adviesbureaus op het gebied van public relations en communicatie73300
Primary activity highlighted.
Names & trade names
Legal nameFR CASI INSTITUTE
Registered office
Tervurenlaan 168
1150 Sint-Pieters-Woluwe, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative