Equity
Equity fell by 83% in 2 years.
Equity fell by 83% in 2 years.
The micro format states no turnover.
Short-term debts rose from €85,019 to €191,684.
The 2022 accounts came latest: 21 days after the end of the period.
Higher net result than 82% of companies in head offices and management consultancy. Sector median €27,132 · 39,384 companies.
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 22% of them on solvency, 45% on liquidity, 84% on profitability and 8% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,713 companies had the same profile as CFDA has now. Each dot stands for 17 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CFDA itself is lower: < 0.1% within 12 months. It rests on far more data about CFDA than the profile alone.
The method was tested on the 497,447 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 6,713 companies, not a prediction for CFDA. 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.
Liquidity is tight, with a current ratio of 1.11 (2.58 in 2024), below the usual 1.5. Short-term debt is 81.9% and cash 64.2% of total assets. 81.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 13 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CFDA Woluwe-Saint-Lambert | €234,042 | €129,585 | 18.1% | - |
| VITRUVIO Woluwe-Saint-Lambert | €261,166 | €153,258 | 54.9% | - |
| GAJA MANAGEMENT Woluwe-Saint-Lambert | €210,791 | €156,360 | 46.1% | - |
| IAL EUROPE Brussels | €225,312 | €131,120 | 2.2% | - |
| D.DEVOS CONSULTING Woluwe-Saint-Pierre | €263,910 | €127,433 | 95.0% | - |
| CONSULTANCIES & PROJECTS COMPANY Woluwe-Saint-Pierre | €217,964 | €118,292 | 66.7% | - |
| JR Insight Brussels | €259,715 | €115,572 | 52.1% | - |
These companies have the same main activity as CFDA: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €211,000 and €264,000, founded in 2020.
CFDA files the micro format. That format states no turnover. The gross margin fell from €187,991 in 2021 to €129,585 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €220,000. Estimated: probably between €190,000 and €260,000.
Higher than 22% of 39,368 companies in 2025.
Higher than 29% of 38,051 companies in 2025.
Higher than 78% of 38,523 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
234,042 | 243,377 | 276,800 | 252,834 | 207,074 | |
21/28 |
21,046 | 24,315 | 17,106 | 20,711 | 22,148 | |
22/27 |
21,046 | 24,315 | 17,106 | 20,711 | 22,148 | |
23 |
11,532 | 12,845 | 2,903 | 2,205 | - | |
24 |
9,514 | 11,470 | 14,203 | 18,507 | 22,148 | |
29/58 |
212,996 | 219,062 | 259,694 | 232,122 | 184,926 | |
40/41 |
62,260 | 42,100 | 139,223 | 97,629 | 76,338 | |
40 |
7,260 | 12,100 | 18,150 | 11,193 | 27,545 | |
41 |
55,000 | 30,000 | 121,073 | 86,436 | 48,793 | |
54/58 |
150,214 | 176,473 | 119,539 | 134,036 | 108,027 | |
490/1 |
522 | 489 | 932 | 458 | 561 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
234,042 | 243,377 | 276,800 | 252,834 | 207,074 | |
10/15 |
42,358 | 158,359 | 252,883 | 190,258 | 139,489 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
13 |
35,000 | 145,000 | 130,000 | 110,000 | 60,000 | |
133 |
35,000 | 145,000 | 130,000 | 110,000 | 60,000 | |
14 |
2,358 | 8,359 | 117,883 | 75,258 | 74,489 | |
17/49 |
191,684 | 85,019 | 23,918 | 62,576 | 67,585 | |
17 |
- | 0 | 1,380 | 4,645 | 7,845 | |
170/4 |
- | 0 | 1,380 | 4,645 | 7,845 | |
42/48 |
191,684 | 85,019 | 22,538 | 57,931 | 59,740 | |
42 |
10,133 | 8,775 | 10,653 | 13,201 | 3,138 | |
44 |
4,051 | 6,356 | 2,456 | 3,216 | 12,524 | |
440/4 |
4,051 | 6,356 | 2,456 | 3,216 | 12,524 | |
45 |
42,926 | 53,253 | 8,629 | 40,835 | 43,278 | |
450/3 |
41,882 | 50,909 | 8,629 | 38,706 | 43,278 | |
454/9 |
1,044 | 2,345 | 0 | 2,129 | - | |
47/48 |
134,574 | 16,634 | 800 | 680 | 800 | |
| Income statement | ||||||
9900 |
129,585 | 139,047 | 90,866 | 80,402 | 187,991 | |
630 |
6,383 | 6,416 | 8,610 | 8,104 | 4,767 | |
640/8 |
1,371 | 1,124 | 1,834 | 1,037 | 1,120 | |
9901 |
121,831 | 131,507 | 80,422 | 71,261 | 182,104 | |
75/76B |
792 | 8,923 | 4,839 | 3,145 | 1,154 | |
75 |
792 | 8,923 | 4,839 | 3,145 | 1,154 | |
65/66B |
1,116 | 1,391 | 1,192 | 836 | 194 | |
65 |
1,116 | 1,391 | 1,192 | 836 | 194 | |
9903 |
121,507 | 139,039 | 84,069 | 73,570 | 183,064 | |
67/77 |
32,508 | 33,563 | 20,644 | 22,001 | 47,775 | |
9904 |
88,999 | 105,476 | 63,425 | 51,569 | 135,289 | |
9905 |
88,999 | 105,476 | 63,425 | 51,569 | 135,289 | |
| Appropriation of the result | ||||||
9906 |
97,358 | 223,359 | 138,683 | 126,058 | 135,289 | |
14P |
8,359 | 117,883 | 75,258 | 74,489 | - | |
791/2 |
110,000 | - | - | - | - | |
691/2 |
0 | 15,000 | 20,000 | 50,000 | 60,000 | |
691 |
0 | 15,000 | 20,000 | 50,000 | 60,000 | |
694/7 |
205,000 | 200,000 | 800 | 800 | 800 | |
694 |
205,000 | 200,000 | 800 | 800 | 800 | |
| Document | ||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 19-05-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-05-2026 | 2026-00114422 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00238262 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00331520 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00355687 | |
| 31-12-2021 | micro format | 16-08-2022 | 2022-20295678 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 128,214 | 137,923 | 89,032 | 79,365 | 186,871 | ||
| 95,382 | 111,892 | 72,035 | 59,673 | 140,056 | ||
| 3,114 | 14,830 | 5,005 | 6,668 | 25,692 | ||
| -26,259 | 56,934 | -14,497 | 26,008 | - | ||
| 21,311 | 134,044 | 237,156 | 174,191 | 125,186 | ||
| 18.1% | 65.1% | 91.4% | 75.3% | 67.4% | ||
| 1.11 | 2.58 | 11.52 | 4.01 | 3.10 | ||
| 4.53 | 0.54 | 0.09 | 0.33 | 0.48 | ||
| 210.1% | 66.6% | 25.1% | 27.1% | 97.0% | ||
| 38.0% | 43.3% | 22.9% | 20.4% | 65.3% | ||
| over 100 | 99.16 | 74.68 | 94.93 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,114 | €14,830 | €5,005 | €6,668 | €25,692 |
| Intangible fixed assets | - | - | - | - | €0 |
| Financial fixed assets | €0 | - | - | - | €0 |
| €6,383 | €6,416 | €8,610 | €8,104 | €4,767 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 7% lower than in 2024.
Debt's share of the balance-sheet total rises from 34.9% to 81.9%. Equity is lower and debt is higher.
CFDA has no parent and no holdings in its annual accounts. GORDOWER Charlie is the only director.
| Unpuzzling Life
registered office since 01-07-2026 |
founded in 2026 1039.211.379 |
| Pierson, Lionel (sole trader)
establishment since 01-08-2019 |
founded in 2019 0723.694.531 |
| Association des copropriétaires de l'immeuble sis à Woluwe-Saint-Lambert, avenue de Broqueville 253-255-257-259 à l'angle de l'avenue C. Montald
registered office since 01-08-1995 |
founded in 1995 0834.169.118 |
| SLC via GORDOWER Charlie, no longer at SLC · Director · deed of 10-06-2022 founded in 2019 |
19 FTE (2025) |
| BCFDA via GORDOWER Charlie, no longer at BCFDA · Director · deed of 29-09-2023 founded in 2017 |
total assets €840,407 (2025) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 14 July 2020, CFDA was incorporated as a private limited company by one natural person, with a starting capital of €5,000.12 GORDOWER Charlie has served as director since 2020.3 Total assets went from €207,074 in 2021 to €234,042 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| de Broquevillelaan 257 registered office 1200 Woluwe-Saint-Lambert | 14-07-2020 | 2.305.199.357 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21673D0115/00A002 | 299 m² | 1 · 236 m² | 30.3 m · 9 |
If something looks wrong or is missing, please tell us.