Active BE 0656.643.577Private limited company

CBDS Advisory

Louizalaan 367 ·1050 Elsene, Belgium· 10 yrs active

Sector: Business and other management consultancy (70200)

Conclusion Checked

CBDS Advisory has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.09M and a net result of €2.07M. Equity is growing by ~41.7% per year across the filed fiscal years. Its solvency ranks better than 62% of 8388 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€4.09M
Net result	€2.07M
Staff (FTE)	1
Better than sector	62%

Financial profile 5 of 5 axes measured · computed by Checked

96 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 100

Solvency 100

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2016, 10 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.

Checked score FY 2025 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€410k

estimate, not credit advice

Score history

53 2021

48 2022

61 2023

86 2024

100 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 3.53 (≥ 1.5) +10

Quick ratio Quick ratio 3.42 (≥ 1.0) +5

Leverage Debt/equity 0.52 (< 1.0) +10

Profitability ROE 50% (≥ 10%) +10

Interest coverage Interest coverage 194.1× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview9 NBB filings

Annual accounts filed on 30-07-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Net result: growth of ~15.9%/year over 5 fiscal years, indicative, assuming unchanged policy.

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 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	65.7%	53.1%	better than 62% of 8388 sector peers
Net result	€2.07M	€38k	better than 95% of 8389 sector peers
Equity	€4.09M	€354k	better than 91% of 8396 sector peers
Gross operating margin	€2.83M	€87k	better than 95% of 8368 sector peers
Staff costs	€31k	€79k	higher than 31% of 1964 sector peers

EBITDA

€2.76M

+4.7% 21-25

Net profit

€2.07M

+9.5% 21-25

Cash flow

€2.10M

+8.8% 21-25

Total assets

€6.23M

+11.7% 21-25

Equity

€4.09M

+68.6% 21-25

Working capital

€3.21M

+44.6% 21-25

Employees (FTE)

1

0.0% 21-25

Staff costs

€31k

-1.1% 21-25

Income taxes

€698k

-6.0% 21-25

Dividends

€400k

-66.7% 21-25

Debt

€2.14M

-32.2% 21-25

Debt ≤ 1y

€1.27M

-52.3% 21-25

Debt > 1y

€764k

+99.2% 21-25

Current ratio

3.53

+92.4% 21-25

Quick ratio

3.42

+91.9% 21-25

Solvency

65.7%

+50.9% 21-25

Debt / equity

0.52

-59.8% 21-25

ROE

50.4%

-35.0% 21-25

ROA

33.1%

-1.9% 21-25

Interest coverage

194.14

+369.4% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	full schema	full schema	full schema	full schema
Revenue	-	-	-	-	-
EBITDA	€2.76M	€2.64M	€3.26M	€2.75M	€1.11M
Net profit	€2.07M	€1.89M	€2.26M	€1.85M	€593k
Cash flow	€2.10M	€1.93M	€2.42M	€2.01M	€768k
Staff costs	€31k	€31k	€91k	€101k	€85k
Income taxes	€698k	€743k	€800k	€678k	€298k
Dividends	€400k	€1.20M	€600k	€2.72M	€1.00M
Total assets	€6.23M	€5.58M	€5.75M	€7.03M	€6.74M
Equity	€4.09M	€2.43M	€1.74M	€880k	€1.75M
Debt	€2.14M	€3.15M	€4.01M	€6.15M	€4.99M
of which ≤ 1y	€1.27M	€2.66M	€2.41M	€4.06M	€2.39M
of which > 1y	€764k	€384k	€1.49M	€2.00M	€2.48M
Working capital	€3.21M	€2.22M	€-997k	€-1.69M	€-1.08M
Employees (FTE)	1.0	1.0	2.2	2.5	2.5

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	3.53	1.83	0.59	0.58	0.55
Quick ratio	3.42	1.78	0.53	0.50	0.39
Working capital ratio	51.5%	39.8%	-17.3%	-24.0%	-16.1%
Solvency	65.7%	43.5%	30.3%	12.5%	26.0%
Debt / equity	0.52	1.30	2.30	6.99	2.85
Long-term debt ratio	0.19	0.16	0.85	2.27	1.42
Interest coverage	194.14	41.36	68.48	56.90	24.64
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	33.1%	33.8%	39.4%	26.2%	8.8%
ROE	50.4%	77.6%	129.8%	209.7%	33.9%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €1.75M · 28.1% Current assets €4.48M · 71.9%

Equity & liabilities

Equity €4.09M · 65.7% Debt €2.14M · 34.3%

Full annual accounts (26 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€6.23M	€5.58M	€5.75M	€7.03M	€6.74M
Fixed assets	21/28	€1.75M	€696k	€4.33M	€4.67M	€5.44M
Tangible fixed assets	22/27	€1.75M	€687k	€4.32M	€4.66M	€5.42M
Financial fixed assets	28	€285	€9k	€9k	€9k	€23k
Current assets	29/58	€4.48M	€4.88M	€1.42M	€2.36M	€1.30M
Stocks & contracts in progress	3	€142k	€142k	€142k	€347k	€360k
Amounts receivable within one year	40/41	€7k	€147k	€197k	€212k	€182k
Investments	50/53	€3.21M	€4.20M	-	-	-
Cash & bank	54/58	€1.12M	€396k	€878k	€1.61M	€405k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€6.23M	€5.58M	€5.75M	€7.03M	€6.74M
Equity	10/15	€4.09M	€2.43M	€1.74M	€880k	€1.75M
Contributions / capital	10/11	-	€73k	€73k	€800k	€800k
Reserves	13	€80k	€7k	€7k	€80k	€80k
Accumulated profits (losses)	14	€4.01M	€2.35M	€1.66M	€51	€871k
Amounts payable	17/49	€2.14M	€3.15M	€4.01M	€6.15M	€4.99M
Amounts payable after one year	17	€764k	€384k	€1.49M	€2.00M	€2.48M
Amounts payable within one year	42/48	€1.27M	€2.66M	€2.41M	€4.06M	€2.39M
Trade debts payable within one year	44	€329k	€15k	€69k	€97k	€77k
Income statement
Gross operating margin	9900	€2.83M	€2.68M	€3.37M	€2.87M	€1.30M
Operating result	9901	€2.73M	€2.59M	€3.11M	€2.58M	€936k
Financial income	75	€53k	€104k	€3k	€6k	€16
Financial charges	65	€14k	€64k	€48k	€48k	€45k
Result before taxes	9903	€2.76M	€2.63M	€3.06M	€2.52M	€891k
Income taxes	67/77	€698k	€743k	€800k	€678k	€298k
Net result for the period	9904	€2.07M	€1.89M	€2.26M	€1.85M	€593k
Result to be appropriated	9905	€2.07M	€1.89M	€2.26M	€1.85M	€593k

Legal Structure

NACE primary	Business and other management consultancy(70200)
Legal form	Private limited company(610)
Incorporation	14-06-2016
Status	Active
Postal code	1050

Establishment units 1 location

Brassinelaan 72, 1640 Sint-Genesius-Rode

Raising of horses and other equines

since 20162.255.567.427

Real-estate footprint Source: CBE × cadastre

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
22552G0002/00T033	Flanders	9,755 m²	1 · 612 m²	10.2 m · 2 fl.
21807G0211/00W012	Brussels	266 m²	1 · 265 m²	34.0 m · 5 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 10 events

All 14Financial 4Gazette 1Filings 9

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

29-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 29 days late

2024

31-12

Financial Liquidity triplescurrent ratio 1.83

Current ratio from 0.59 to 1.83.

31-12

Financial Equity above €2MEq €2.43M ▲39.3%

4 profitable years in a row build equity to €2.43M.

11-10

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 72 days late

2023

31-12

Financial Highest result since 2021net €2.26M ▲22.7%

Operating result €3.11M, net result €2.26M, both a record.

31-12

Financial Equity above €1MEq €1.74M ▲98.1%

3 profitable years in a row build equity to €1.74M.

31-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 31 days late

20-04

State Gazette act Director changes

Catherine HATERT

2022

30-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 30 days late

2021

30-11

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 122 days late

2020

19-12

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 141 days late

27-02

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 211 days late

2019

30-03

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 242 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 5 acts read

We know of 5 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 3 years ago

2023

20-04-2023 Change in the board of directors Director changes·Catherine HATERT

Notary: Catherine HATERT · Saint-Josse-ten-Noode

Original publication ↗

Technical details

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  "act_meta": {
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  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0656.643.577",
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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Business and other management consultancy70200Business consulting70220Other retail sale of new goods47789Buying and selling of own real estate68110Other business support services82990Operation of sports facilities93110Equestrian clubs93127

Names & trade names

Legal nameFR	CBDS Advisory
Legal nameNL	CBDS Advisory

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