CHANGE
ActiveSummary
CHANGE has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€181,000) and a net result of €12,578. Equity is shrinking by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 9% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 56 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
History
Go further with this company
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Peer companies
Historical observationOf the 517 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92% are still going.
- Small
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
A further 1.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% 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 517 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,729 | €16,372 | €17,200 | €18,979 | €17,542 | ▼ 7.6% |
| Other operating charges640/8 | €6,832 | €2,773 | €2,597 | €3,832 | €5,824 | ▲ 52.0% |
| Gross operating margin9900 | €355,579 | €3,480 | €13,338 | €10,607 | €36,712 | ▲ 246% |
| Operating profit (loss)9901 | €345,018 | -€15,665 | -€6,459 | -€12,205 | €13,346 | ▲ 209% |
| Financial charges65/66B | €715 | €955 | €506 | €792 | €768 | ▼ 3.0% |
| Recurring financial charges65 | €715 | €955 | €506 | €792 | €768 | ▼ 3.0% |
| Profit (loss) for the period before taxes9903 | €344,303 | -€16,620 | -€6,965 | -€12,997 | €12,578 | ▲ 197% |
| Profit (loss) for the period9904 | €344,303 | -€16,620 | -€6,965 | -€12,997 | €12,578 | ▲ 197% |
| Profit (loss) for the period to be appropriated9905 | €344,303 | -€16,620 | -€6,965 | -€12,997 | €12,578 | ▲ 197% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €542,740 | €505,583 | €488,558 | €497,003 | ▲ 1.7% |
| Fixed assets21/28 | €680,348 | €295,908 | €297,196 | €281,696 | €269,136 | ▼ 4.5% |
| Tangible fixed assets22/27 | €680,292 | €295,852 | €297,140 | €280,439 | €267,880 | ▼ 4.5% |
| Land and buildings22 | €672,935 | €286,868 | €272,469 | €258,070 | €242,172 | ▼ 6.2% |
| Plant, machinery and equipment23 | €7,357 | €8,984 | €24,671 | €22,369 | €25,707 | ▲ 14.9% |
| Financial fixed assets28 | €56 | €56 | €56 | €1,256 | €1,256 | = |
| Current assets29/58 | €333,678 | €246,832 | €208,387 | €206,862 | €227,867 | ▲ 10.2% |
| Amounts receivable within one year40/41 | €104,103 | €31,156 | €25,678 | €27,661 | €52,678 | ▲ 90.4% |
| Trade receivables40 | €96,584 | €21,678 | €16,200 | €18,183 | €43,200 | ▲ 138% |
| Other amounts receivable41 | €7,519 | €9,478 | €9,478 | €9,478 | €9,478 | = |
| Cash at bank and in hand54/58 | €228,544 | €215,676 | €182,709 | €179,201 | €175,189 | ▼ 2.2% |
| Deferred charges and accrued income490/1 | €1,031 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €542,740 | €505,583 | €488,558 | €497,003 | ▲ 1.7% |
| Equity10/15 | €216,681 | -€173,617 | -€180,582 | -€193,578 | -€181,000 | ▲ 6.5% |
| Contributions10/11 | €21,000 | €21,000 | €21,000 | €21,000 | €21,000 | = |
| Revaluation surpluses12 | €600,000 | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Reserves13 | €447 | €447 | €447 | €447 | €447 | = |
| Non-distributable reserves130/1 | €447 | €447 | €447 | €447 | €447 | = |
| Other1319 | €447 | €447 | €447 | €447 | €447 | = |
| Profit (loss) carried forward14 | -€404,766 | -€495,063 | -€502,028 | -€515,025 | -€502,447 | ▲ 2.4% |
| Amounts payable17/49 | €797,346 | €716,357 | €686,164 | €682,136 | €678,002 | ▼ 0.6% |
| Amounts payable after more than one year17 | - | - | €5,860 | €5,860 | €5,860 | = |
| Other amounts payable178/9 | - | - | €5,860 | €5,860 | €5,860 | = |
| Amounts payable within one year42/48 | €616,260 | €716,357 | €678,404 | €676,276 | €672,142 | ▼ 0.6% |
| Trade debts44 | €11,729 | €8,735 | - | €1,121 | €343 | ▼ 69.4% |
| Suppliers440/4 | €11,729 | €8,735 | - | €1,121 | €343 | ▼ 69.4% |
| Other amounts payable47/48 | €604,531 | €707,621 | €678,404 | €675,154 | €671,800 | ▼ 0.5% |
| Accrued charges and deferred income492/3 | €181,086 | - | €1,900 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €344,303 | -€16,620 | -€6,965 | -€12,997 | €12,578 | ▲ 197% |
| + Depreciation and write-downs630 | €3,729 | €16,372 | €17,200 | €18,979 | €17,542 | ▼ 7.6% |
| Operating cash flow (approximation) | €348,032 | -€248 | €10,235 | €5,983 | €30,120 | ▲ 403% |
| Investment in fixed assets (approximation) | - | €368,069 | -€18,488 | -€3,479 | -€4,982 | ▼ 43.2% |
| Change in cash | - | -€12,868 | -€32,967 | -€3,508 | -€4,012 | ▼ 14.4% |
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
22-07
State Gazette act
Statutes amendment · Legal-form changeCapital conversion · Power of attorney4 facts ▸
- General meeting, 08-07-2026
- Capital conversion, 01-01-2020
- Capital conversion, compte de capitaux propres disponible
- Power of attorney
Show earlier events
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0505/00D000indicative | Brussels | 332 m² | 1 · 332 m² | 25.9 m · 8 fl. |
Linked by address, not proof of ownership
Articles of association
Full text
Article 16. Représentation externe Chaque administrateur a le pouvoir de représenter la société à l’égard des tiers et en justice, soit en demandant, soit en défendant. La société est également valablement représentée par la ou les personnes déléguées à la gestion journalière, dans le cadre de l’exercice de leurs fonctions. La société peut en outre être représentée par toute personne valablement engagée par procuration spéciale.
Full text
Titre V. Assemblée générale Article 18. Tenue et convocation Il est tenu chaque année, au siège, une assemblée générale ordinaire le quatre du mois de juin, à 16 heures. Si ce jour est férié, l'assemblée est remise au premier jour ouvrable suivant. S'il n'y a qu'un seul actionnaire, c'est à cette même date qu'il signe pour approbation les comptes annuels. Des assemblées générales extraordinaires doivent en outre être convoquées par l’organe d’ administration et, le cas échéant, le commissaire, chaque fois que l’intérêt de la société l’exige ou sur requête d’actionnaires représentant un dixième du nombre d’actions en circulation. Dans ce dernier cas, les actionnaires indiquent leur demande et les sujets à porter à l’ordre du jour. L’organe d’ administration ou, le cas échéant, le commissaire convoquera l’assemblée générale dans un délai de trois semaines de la demande. Les convocations aux assemblées générales contiennent l’ordre du jour. Elles sont faites par e-mails envoyés quinze jours au moins avant l’assemblée aux actionnaires, aux administrateurs et, le cas échéant, aux titulaires d’obligations convertibles nominatives, de droits de souscription nominatifs ou de certificats nominatifs émis avec la collaboration de la société et aux commissaires. Elles sont faites par courrier ordinaire aux personnes pour lesquelles la société ne dispose pas d’une adresse e-mail, le même jour que l’envoi des convocations électroniques. Toute personne peut renoncer à la convocation et, en tout cas, sera considérée comme ayant été régulièrement convoquée si elle est présente ou représentée à l'assemblée.
Similar companies · same sector, comparable size
Identification & contact
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.