CF ADVISORY
ActiveSummary
CF ADVISORY has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €200,179 and a net result of €57,247. Equity is growing by ~32.5% per year across the filed fiscal years. Its solvency ranks better than 36% of 8966 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability83▼-13
Solvency64▼-36
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.98 against 4.33 in 2023; short-term debt: 13.8% and cash: 6.9% of total assets), and 61.2% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 29-06-2025, 32 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
32 d early
2023
19 d late
2022
23 d late
2021
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 9 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€200,179▲ 20.3%
2023 · €166,462
Total assets
€516,134▲ 139%
2023 · €216,158
Net result
€57,247▲ 22.1%
2023 · €46,894
Working capital
-€1,442
2023 · €165,343
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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
Line2021202220232024
Operating result€77,876-€77,270▼ 0.8%€62,726▼ 18.8%€87,485▲ 39.5%
Net result€56,965above the sector's middle half-€57,604above the sector's middle half▲ 1.1%€46,894above the sector's middle half▼ 18.6%€57,247above the sector's middle half▲ 22.1%
Equity€61,965within the sector's middle half-€119,568within the sector's middle half▲ 93.0%€166,462within the sector's middle half▲ 39.2%€200,179above the sector's middle half▲ 20.3%
Total assets€83,788within the sector's middle half-€169,493within the sector's middle half▲ 102%€216,158within the sector's middle half▲ 27.5%€516,134above the sector's middle half▲ 139%
Debt€21,824-€49,924▲ 129%€49,696▼ 0.5%€315,955▲ 536%
Working capital€60,012-€117,226▲ 95.3%€165,343▲ 41.0%-€1,442
Solvency74.0%within the sector's middle half-70.5%within the sector's middle half▼ 3.4pp77.0%above the sector's middle half▲ 6.5pp38.8%within the sector's middle half▼ 38.2pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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 recovers in 2024; 2024 is 39% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €516,134
Fixed assets
€446,261 ▲ 39,776%
Current assets
€69,873 ▼ 67.5%
Equity and liabilities €516,134
Equity
€200,179 ▲ 20.3%
Debt
€315,955 ▲ 536%
Debt's share of the balance-sheet total rises from 23.0% to 61.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€159,843▲
2023 · €63,950
Cash flow
€129,605▲
2023 · €48,117
Current ratio
0.98▼
2023 · 4.33
Debt to equity
1.58▲
2023 · 0.30
ROE
28.6%▲
2023 · 28.2%
ROA
11.1%▼
2023 · 21.7%
Interest coverage
18.01▼
2023 · 235.87
Debt ≤ 1 year
€71,316▲
2023 · €49,696
Debt > 1 year
€244,639
Income taxes
€21,907▲
2023 · €15,951
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,778 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
2.6%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 6,778 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 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €215 | €1,114 | €1,224 | €72,358 | ▲ 5,813% |
| Other operating charges640/8 | - | - | €100 | €1,247 | ▲ 1,147% |
| Gross operating margin9900 | €78,091 | €78,384 | €64,050 | €161,090 | ▲ 152% |
| Operating profit (loss)9901 | €77,876 | €77,270 | €62,726 | €87,485 | ▲ 39.5% |
| Financial income75/76B | - | - | €390 | €541 | ▲ 38.9% |
| Recurring financial income75 | - | - | €390 | €541 | ▲ 38.9% |
| Financial charges65/66B | €34 | €112 | €271 | €8,873 | ▲ 3,173% |
| Recurring financial charges65 | €34 | €112 | €271 | €8,873 | ▲ 3,173% |
| Profit (loss) for the period before taxes9903 | €77,842 | €77,157 | €62,844 | €79,153 | ▲ 26.0% |
| Income taxes67/77 | €20,878 | €19,554 | €15,951 | €21,907 | ▲ 37.3% |
| Profit (loss) for the period9904 | €56,965 | €57,604 | €46,894 | €57,247 | ▲ 22.1% |
| Profit (loss) for the period to be appropriated9905 | €56,965 | €57,604 | €46,894 | €57,247 | ▲ 22.1% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €83,788 | €169,493 | €216,158 | €516,134 | ▲ 139% |
| Fixed assets21/28 | €1,953 | €2,343 | €1,119 | €446,261 | ▲ 39,776% |
| Tangible fixed assets22/27 | €1,953 | €2,343 | €1,119 | €446,261 | ▲ 39,776% |
| Land and buildings22 | - | - | - | €446,151 | - |
| Plant, machinery and equipment23 | €1,953 | €2,343 | €1,119 | €110 | ▼ 90.2% |
| Current assets29/58 | €81,836 | €167,150 | €215,039 | €69,873 | ▼ 67.5% |
| Amounts receivable within one year40/41 | €2,843 | €21,248 | €44,712 | €34,506 | ▼ 22.8% |
| Trade receivables40 | €2,030 | €21,248 | €44,712 | €34,506 | ▼ 22.8% |
| Other amounts receivable41 | €813 | €0 | - | - | - |
| Current investments50/53 | - | €9,990 | €0 | - | - |
| Cash at bank and in hand54/58 | €78,993 | €101,047 | €170,327 | €35,368 | ▼ 79.2% |
| Deferred charges and accrued income490/1 | - | €34,865 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €83,788 | €169,493 | €216,158 | €516,134 | ▲ 139% |
| Equity10/15 | €61,965 | €119,568 | €166,462 | €200,179 | ▲ 20.3% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €56,965 | €114,568 | €161,462 | €195,179 | ▲ 20.9% |
| Amounts payable17/49 | €21,824 | €49,924 | €49,696 | €315,955 | ▲ 536% |
| Amounts payable after more than one year17 | - | - | - | €244,639 | - |
| Financial debts170/4 | - | - | - | €244,639 | - |
| Amounts payable within one year42/48 | €21,824 | €49,924 | €49,696 | €71,316 | ▲ 43.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,910 | - |
| Trade debts44 | €273 | €605 | €3,880 | €2,414 | ▼ 37.8% |
| Suppliers440/4 | €273 | €605 | €3,880 | €2,414 | ▼ 37.8% |
| Taxes, remuneration and social security45 | €20,878 | €48,324 | €43,732 | €21,384 | ▼ 51.1% |
| Taxes450/3 | €20,878 | €48,324 | €43,732 | €21,384 | ▼ 51.1% |
| Other amounts payable47/48 | €673 | €994 | €2,084 | €38,608 | ▲ 1,752% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,965 | €57,604 | €46,894 | €57,247 | ▲ 22.1% |
| + Depreciation and write-downs630 | €215 | €1,114 | €1,224 | €72,358 | ▲ 5,813% |
| Operating cash flow (approximation) | €57,179 | €58,718 | €48,117 | €129,605 | ▲ 169% |
| Investment in fixed assets (approximation) | - | -€1,504 | €0 | -€517,500 | - |
| Change in cash | - | €22,054 | €69,280 | -€134,959 | ▼ 295% |
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
2025
29-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200,000Eq €200,179 ▲20.3%
4 profitable years in a row build equity to €200,179.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
31-12
Financial
Weakest financial yearnet €46,894 ▼18.6%
Net result drops to €46,894, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150,000Eq €166,462 ▲39.2%
3 profitable years in a row build equity to €166,462.
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
31-12
Financial
Highest result since 2021net €57,604 ▲1.1%
Net result €57,604, the highest in the series.
31-12
Financial
Equity above €100,000Eq €119,568 ▲93%
2 profitable years in a row build equity to €119,568.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Nivelles · 1 establishment unit since 2021
Ground area
116 m²
Building footprint
87 m²
Volume, LiDAR
781 m³
Parcel 25782D0690/00E000, Wallonia · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CF ADVISORY
since 20212.319.041.455
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782D0690/00E000 | Wallonia | 116 m² | 1 · 87 m² | 11.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,906. 5,260 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
Founded18-06-2021
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
46190Agents in non-specialised wholesale trade
46450Wholesale of perfume and cosmetics
46498Wholesale trade
46900Non-specialised wholesale trade
47120Other non-specialised retail sale
47522Retail trade
47722Retail trade
47750Retail sale of cosmetics and toilet articles
47784Retail sale of souvenirs and religious articles
47789Other retail sale of new goods
68110Buying and selling of own real estate
70200Business and other management consultancy
74130Interior design
82300Organisation of conventions and trade shows
85592Vocational training
85599Other education
96220Beauty care and other beauty treatments
96230Day spas, saunas and steam baths
Contact
E-mail
alvesfr@hotmail.com
Phone
+32470445298
E-invoicing
Reachable via Peppol
Peppol ID
0208:0769838025
Registered
04-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.