CHALLENGE MC
ActiveSummary
CHALLENGE MC has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €323,968 and a net result of €27,947. Equity is growing by ~16.6% per year across the filed fiscal years. Its solvency ranks better than 56% of 322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+41
Solvency54▲+4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity ample (current ratio 1.5 against 1.53 in 2024; short-term debt: 64% and cash: 22.3% of total assets), but 71.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.8%
Return on assets
2.5%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 78
Relative position
BE, all sectors
reference
Employment activities (NACE 78)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
28 d late
2023
51 d late
2022
30 d late
2021
26 d late
2020
31 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 30% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€323,968▲ 9.4%
2024 · €296,021
Total assets
€1.1m▼ 5.8%
2024 · €1.2m
Net result
€27,947
2024 · -€13,795
Working capital
€361,880▼ 11.1%
2024 · €407,057
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 78, Employment activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€246,637▲ 2,348%€2,245▼ 99.1%-€5,837-€13,083▼ 124%€41,813
Net result€203,885above the sector's middle half-€1,801below the sector's middle half-€6,498within the sector's middle half▼ 261%-€13,795below the sector's middle half▼ 112%€27,947within the sector's middle half
Equity€318,115within the sector's middle half▲ 178%€316,314within the sector's middle half▼ 0.6%€309,816within the sector's middle half▼ 2.1%€296,021within the sector's middle half▼ 4.5%€323,968within the sector's middle half▲ 9.4%
Total assets€462,111within the sector's middle half▲ 37.6%€644,587within the sector's middle half▲ 39.5%€943,258within the sector's middle half▲ 46.3%€1.2mwithin the sector's middle half▲ 26.4%€1.1mwithin the sector's middle half▼ 5.8%
Debt€143,996▼ 35.0%€328,274▲ 128%€633,442▲ 93.0%€896,642▲ 41.6%€799,186▼ 10.9%
Working capital€281,964within the sector's middle half▲ 271%€371,780within the sector's middle half▲ 31.9%€287,220within the sector's middle half▼ 22.7%€407,057above the sector's middle half▲ 41.7%€361,880above the sector's middle half▼ 11.1%
Solvency68.8%above the sector's middle half▲ 34.8pp49.1%within the sector's middle half▼ 19.8pp32.8%within the sector's middle half▼ 16.2pp24.8%within the sector's middle half▼ 8.0pp28.8%within the sector's middle half▲ 4.0pp
Current ratio3.28above the sector's middle half▲ 1.812.57above the sector's middle half▼ 0.701.45within the sector's middle half▼ 1.121.53within the sector's middle half▲ 0.081.50within the sector's middle half▼ 0.03
Return on assets (ROA)44.1%above the sector's middle half▲ 44.1pp-0.3%below the sector's middle half▼ 44.4pp-0.7%within the sector's middle half▼ 0.4pp-1.2%below the sector's middle half▼ 0.5pp2.5%within the sector's middle half▲ 3.6pp
Staff (FTE)11.9within the sector's middle half▲ 20.2%24.9within the sector's middle half▲ 109%24.6within the sector's middle half▼ 1.2%25.5within the sector's middle half▲ 3.7%17.9within the sector's middle half▼ 29.8%
above
within
below
the middle half (P25 to P75) of NACE 78, Employment activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €41,813 after a loss of €13,083 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€42,366 ▲ 140%
Current assets
€1.1m ▼ 8.0%
Equity and liabilities €1.1m
Equity
€323,968 ▲ 9.4%
Debt
€799,186 ▼ 10.9%
Debt's share of the balance-sheet total falls from 75.2% to 71.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€53,028▲
2024 · €901
Cash flow
€39,162▲
2024 · €189
Debt to equity
2.47▼
2024 · 3.03
ROE
8.6%▲
2024 · -4.7%
Interest coverage
21.13▲
2024 · 1.69
Debt ≤ 1 year
€718,908▼
2024 · €767,948
Income taxes
€12,011▲
2024 · €181
Staff costs
€1.4m▲
2024 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
1.9%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 4,681 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €518,727 | €940,971 | €1.4m | €1.3m | €1.4m | ▲ 8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,592 | €21,521 | €14,078 | €13,984 | €11,215 | ▼ 19.8% |
| Other operating charges640/8 | €1,155 | €1,019 | €493 | €5,660 | €1,594 | ▼ 71.8% |
| Gross operating margin9900 | €806,111 | €965,757 | €1.4m | €1.3m | €1.5m | ▲ 12.0% |
| Operating profit (loss)9901 | €246,637 | €2,245 | -€5,837 | -€13,083 | €41,813 | ▲ 420% |
| Financial income75/76B | €790 | €1,187 | €3,534 | €1 | €655 | ▲ 65,400% |
| Recurring financial income75 | €290 | €966 | €3,534 | €1 | €655 | ▲ 65,400% |
| Non-recurring financial income76B | €500 | €221 | - | - | - | - |
| Financial charges65/66B | €4,690 | €3,401 | €2,495 | €532 | €2,510 | ▲ 372% |
| Recurring financial charges65 | €4,690 | €3,401 | €2,495 | €532 | €2,510 | ▲ 372% |
| Profit (loss) for the period before taxes9903 | €242,736 | €31 | -€4,798 | -€13,614 | €39,958 | ▲ 394% |
| Income taxes67/77 | €38,851 | €1,832 | €1,700 | €181 | €12,011 | ▲ 6,536% |
| Profit (loss) for the period9904 | €203,885 | -€1,801 | -€6,498 | -€13,795 | €27,947 | ▲ 303% |
| Profit (loss) for the period to be appropriated9905 | €203,885 | -€1,801 | -€6,498 | -€13,795 | €27,947 | ▲ 303% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €462,111 | €644,587 | €943,258 | €1.2m | €1.1m | ▼ 5.8% |
| Fixed assets21/28 | €56,314 | €36,674 | €22,596 | €17,658 | €42,366 | ▲ 140% |
| Tangible fixed assets22/27 | €52,297 | €33,716 | €19,638 | €14,700 | €33,107 | ▲ 125% |
| Land and buildings22 | €27,475 | €16,522 | €9,980 | €4,083 | €746 | ▼ 81.7% |
| Plant, machinery and equipment23 | €4,807 | €3,335 | €1,954 | €7,915 | €30,625 | ▲ 287% |
| Furniture and vehicles24 | €20,016 | €13,860 | €7,704 | €2,702 | €1,736 | ▼ 35.8% |
| Financial fixed assets28 | €4,016 | €2,958 | €2,958 | €2,958 | €9,259 | ▲ 213% |
| Current assets29/58 | €405,798 | €607,913 | €920,662 | €1.2m | €1.1m | ▼ 8.0% |
| Amounts receivable within one year40/41 | €176,237 | €419,074 | €650,195 | €1.0m | €827,410 | ▼ 21.1% |
| Trade receivables40 | €169,539 | €412,375 | €537,458 | €547,695 | €577,116 | ▲ 5.4% |
| Other amounts receivable41 | €6,698 | €6,698 | €112,737 | €500,597 | €250,294 | ▼ 50.0% |
| Cash at bank and in hand54/58 | €229,561 | €188,839 | €265,145 | €125,966 | €250,107 | ▲ 98.6% |
| Deferred charges and accrued income490/1 | - | - | €5,322 | €747 | €3,271 | ▲ 338% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €462,111 | €644,587 | €943,258 | €1.2m | €1.1m | ▼ 5.8% |
| Equity10/15 | €318,115 | €316,314 | €309,816 | €296,021 | €323,968 | ▲ 9.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €34,267 | €34,267 | €34,267 | €34,267 | €34,267 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €32,407 | €32,407 | €34,267 | €34,267 | €34,267 | = |
| Profit (loss) carried forward14 | €277,648 | €275,847 | €269,349 | €255,554 | €283,501 | ▲ 10.9% |
| Amounts payable17/49 | €143,996 | €328,274 | €633,442 | €896,642 | €799,186 | ▼ 10.9% |
| Amounts payable after more than one year17 | €20,162 | €0 | - | - | - | - |
| Financial debts170/4 | €20,162 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €123,834 | €236,133 | €633,442 | €767,948 | €718,908 | ▼ 6.4% |
| Current portion of amounts payable after more than one year42 | €38,797 | €20,162 | - | - | - | - |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €23,935 | €112,778 | €401,921 | €412,083 | €257,786 | ▼ 37.4% |
| Suppliers440/4 | €23,935 | €112,778 | €401,921 | €412,083 | €257,786 | ▼ 37.4% |
| Taxes, remuneration and social security45 | €61,102 | €103,192 | €81,521 | €70,865 | €164,622 | ▲ 132% |
| Taxes450/3 | €36,881 | €35,607 | €3,532 | €181 | €64,532 | ▲ 35,553% |
| Remuneration and social security454/9 | €24,221 | €67,585 | €77,989 | €70,684 | €100,090 | ▲ 41.6% |
| Other amounts payable47/48 | - | - | €150,000 | €285,000 | €296,500 | ▲ 4.0% |
| Accrued charges and deferred income492/3 | - | €92,141 | - | €128,694 | €80,278 | ▼ 37.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €203,885 | -€1,801 | -€6,498 | -€13,795 | €27,947 | ▲ 303% |
| + Depreciation and write-downs630 | €39,592 | €21,521 | €14,078 | €13,984 | €11,215 | ▼ 19.8% |
| Operating cash flow (approximation) | €243,477 | €19,720 | €7,580 | €189 | €39,162 | ▲ 20,621% |
| Investment in fixed assets (approximation) | - | -€1,882 | €0 | -€9,046 | -€35,923 | ▼ 297% |
| Change in cash | - | -€40,721 | €76,306 | -€139,179 | €124,141 | ▲ 189% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
14-08
State Gazette act
Resignations: BVJS BV (director) and DEBAGO 2013 BV (director)Permanent representatives: Ben Jansen, Jan Gorinsek and 2 others · Appointments: Sylleo BV (director) and Poels Management BV (director)12 facts ▸
State Gazette act
Resignations: BVJS BV (director) and DEBAGO 2013 BV (director)
Permanent representatives: Ben Jansen, Jan Gorinsek and 2 others · Appointments: Sylleo BV (director) and Poels Management BV (director)12 facts ▸
- General meeting, 14-07-2026
- Director resignation, BVJS BV (director)
- Director resignation, DEBAGO 2013 BV (director)
- Permanent representative, Ben Jansen (permanent representative)
- Permanent representative, Jan Gorinsek (permanent representative)
- Director appointment, Sylleo BV (director)
- Director appointment, Poels Management BV (director)
- Permanent representative, Jens Jacob (permanent representative)
- Permanent representative, Jeroen Poels (permanent representative)
- Board meeting, 14-07-2026
- Director resignation, DEBAGO 2013 BV (managing director)
- Director appointment, Poels Management BV (managing director)
2025
31-12
Financial
Back to profitnet €27,947
Net result €27,947 after 3 loss-making years.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet -€13,795
Net result drops to -€13,795, the lowest in the series; recovery starts the following year.
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 51 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
31-12
Financial
Back to profitnet €203,885
Net result €203,885 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 3.28
Current ratio from 1.47 to 3.28; short-term debt falls from €162,655 to €123,834.
31-12
Financial
Equity above €200,000Eq €318,115 ▲178%
Equity rises from €114,229 to €318,115.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management, last change in 2026
Board 2
Poels Management BV
CurrentDirector · since 14-07-2026 · Legal entity · perm. rep.: Jeroen Poels
Sylleo BV
CurrentDirector · since 14-07-2026 · Legal entity · perm. rep.: Jens Jacob
Day-to-day management 1
Poels Management BV
CurrentManaging director · since 14-07-2026 · Legal entity · perm. rep.: Jeroen Poels
Permanent representatives 2
Jens Jacob
CurrentPermanent representative · since 14-07-2026 · for Sylleo BV
Jeroen Poels
CurrentPermanent representative · since 14-07-2026 · for Poels Management BV
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 2 establishment units since 2003
Ground area
1.7 ha
Building footprint
1.3 ha
Volume, LiDAR
288,150 m³
3 parcels, Brussels, Flanders · tallest building 42.1 m, ±13 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
2 establishment units
Ankerrui 9, 2000 Antwerpen
since 20032.123.653.959
Havenlaan 86C, 1000 Brussel
since 20242.365.448.037
3 parcels
Flanders
2
(66.7%)
Brussels
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21814P0141/00A002 | Brussels | 1.1 ha | 1 · 1.1 ha | 34.6 m · 7 fl. |
| 44816K0953/00B002 | Flanders | 4,081 m² | 1 · 976 m² | 42.1 m · 13 fl. |
| 11802B0262/00V000 | Flanders | 1,305 m² | 1 · 1,305 m² | 31.6 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 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: expect extra rules on renovation or sale.
Mandate history
4 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Poels Management BV |
|
| Sylleo BV |
|
| BVJS BV |
|
| DEBAGO 2013 BV |
|
Articles of association
Who signs
Two directors jointly
Structure & network
Part of the group
ALYCHLO
52 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- ALYCHLO
- Nothing happens without YOU
- The Big Smile Company
- CHALLENGE MC
Highest known parent: ALYCHLO. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 2,669 EUR awarded · 2,669 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 278 EUR | 278 EUR |
| 2024 | 1 | 0 EUR | 158 EUR |
| 2023 | 1 | 2,391 EUR | 2,233 EUR |
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Company details
Identification
Legal formPrivate limited company
Founded15-11-2002
Fiscal year end31-12
Activities, NACEBEL 2025
78100Employment placement agencies
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478780914
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.