Change2Grow
ActiveSummary
Change2Grow has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €121k and a net result of €111k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 33% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency60▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 2.08 in 2024; short-term debt: 45.6% and cash: 28.4% of total assets), but 65.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
34.5%
Return on assets
31.6%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €121k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-04-2026, 115 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
115 d early
2024
31 d early
2023
30 d early
2022
32 d early
2021
27 d early
2020
19 d early
2019
26 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€121k=
2024 · €121k
2018: €49k
2019: €49k● 0.0% vs 2018
2020: €41k▼ -16.5% vs 2019
2021: €6k▼ -85.8% vs 2020lowest in 8 years
2022: €41k▲ +600% vs 2021
2023: €33k▼ -19.5% vs 2022
2024: €121k▲ +269% vs 2023highest in 8 years
2025: €121k● 0.0% vs 2024highest in 8 years
2018 → 2025
Total assets
€350k▲ 19.2%
2024 · €294k
2018: €87klowest in 8 years
2019: €185k▲ +112% vs 2018
2020: €231k▲ +24.8% vs 2019
2021: €197k▼ -14.9% vs 2020
2022: €215k▲ +9.3% vs 2021
2023: €268k▲ +24.7% vs 2022
2024: €294k▲ +9.8% vs 2023
2025: €350k▲ +19.2% vs 2024highest in 8 years
2018 → 2025
Net result
€111k▲ 25.8%
2024 · €88k
2018: €13klowest in 8 years
2019: €13k● 0.0% vs 2018lowest in 8 years
2020: €56k▲ +338% vs 2019
2021: €41k▼ -27.9% vs 2020
2022: €35k▼ -13.9% vs 2021
2023: €51k▲ +46.0% vs 2022
2024: €88k▲ +73.2% vs 2023
2025: €111k▲ +25.8% vs 2024highest in 8 years
2018 → 2025
Working capital
€102k▼ 0.2%
2024 · €102k
2018: €25k
2019: €23k▼ -10.1% vs 2018
2020: €30k▲ +30.5% vs 2019
2021: €9k▼ -69.5% vs 2020lowest in 8 years
2022: €37k▲ +310% vs 2021
2023: €28k▼ -25.4% vs 2022
2024: €102k▲ +271% vs 2023highest in 8 years
2025: €102k▼ -0.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€6k-€41k▲ 600%€33k▼ 19.5%€121k▲ 269%€121k=
2021: €6klowest in 5 years
2022: €41k▲ +600% vs 2021
2023: €33k▼ -19.5% vs 2022
2024: €121k▲ +269% vs 2023highest in 5 years
2025: €121k● 0.0% vs 2024highest in 5 years
Operating result€54k-€46k▼ 14.8%€66k▲ 42.9%€112k▲ 69.2%€143k▲ 27.5%
2021: €54k
2022: €46k▼ -14.8% vs 2021lowest in 5 years
2023: €66k▲ +42.9% vs 2022
2024: €112k▲ +69.2% vs 2023
2025: €143k▲ +27.5% vs 2024highest in 5 years
Net result€41k-€35k▼ 13.9%€51k▲ 46.0%€88k▲ 73.2%€111k▲ 25.8%
2021: €41k
2022: €35k▼ -13.9% vs 2021lowest in 5 years
2023: €51k▲ +46.0% vs 2022
2024: €88k▲ +73.2% vs 2023
2025: €111k▲ +25.8% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 27% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €350k
Fixed assets
€89k ▼ 8.5%
Current assets
€262k ▲ 32.8%
Equity and liabilities €350k
Equity
€121k =
Debt
€229k ▲ 32.7%
Debt's share of the balance-sheet total rises from 58.9% to 65.5%. Debt is higher.
Key figures and ratios
EBITDA
€152k▲
2024 · €121k
Cash flow
€120k▲
2024 · €97k
Current ratio
1.64▼
2024 · 2.08
Debt to equity
1.90▲
2024 · 1.43
ROE
91.7%▲
2024 · 72.9%
ROA
31.6%▲
2024 · 30.0%
Interest coverage
95.36▲
2024 · 69.71
Debt ≤ 1 year
€160k▲
2024 · €95k
Debt > 1 year
€70k▼
2024 · €78k
Income taxes
€34k▲
2024 · €26k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€294k€350k▲
Fixed assets21/28€97k€89k▼
Tangible fixed assets22/27€97k€89k▼
Land and buildings22€90k€83k▼
Furniture and vehicles24€7k€5k▼
Current assets29/58€197k€262k▲
Amounts receivable after more than one year29€121k€148k▲
Trade receivables290€3k€3k=
Other amounts receivable291€117k€145k▲
Amounts receivable within one year40/41€326€11k▲
Trade receivables40-€11k
Other amounts receivable41€326€30▼
Cash at bank and in hand54/58€74k€99k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€294k€350k▲
Equity10/15€121k€121k=
Contributions10/11€5k€5k=
Reserves13€809€809=
Tax-exempt reserves132€384€384=
Distributable reserves133€425€425=
Profit (loss) carried forward14€115k€115k=
Amounts payable17/49€173k€229k▲
Amounts payable after more than one year17€78k€70k▼
Financial debts170/4€77k€69k▼
Other amounts payable178/9€1k€1k=
Amounts payable within one year42/48€95k€160k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Financial debts43€2€41▲
Credit institutions430/8€2€41▲
Trade debts44€7k€4k▼
Suppliers440/4€7k€4k▼
Taxes, remuneration and social security45€21k€18k▼
Taxes450/3€21k€18k▼
Other amounts payable47/48€59k€128k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k▼
Other operating charges640/8€2k€3k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€123k€154k▲
Operating profit (loss)9901€112k€143k▲
Financial income75/76B€4k€4k▼
Recurring financial income75€4k€4k▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€114k€145k▲
Income taxes67/77€26k€34k▲
Profit (loss) for the period9904€88k€111k▲
Profit (loss) for the period to be appropriated9905€88k€111k▲
Appropriation of the result
Profit (loss) to be appropriated9906€115k€226k▲
Profit (loss) brought forward from the previous period14P€27k€115k▲
Profit to be distributed694/7€0€111k▲
Return on contributions (dividend)694€0€111k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1k | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €8k | €9k | €9k | €9k | ▼ 2.1% |
| Other operating charges640/8 | €2k | €2k | €2k | €2k | €3k | ▲ 17.5% |
| Non-recurring operating charges66A | €190 | €0 | €3k | €0 | - | - |
| Gross operating margin9900 | €67k | €57k | €80k | €123k | €154k | ▲ 25.1% |
| Operating profit (loss)9901 | €54k | €46k | €66k | €112k | €143k | ▲ 27.5% |
| Financial income75/76B | €584 | €916 | €1k | €4k | €4k | ▼ 1.7% |
| Recurring financial income75 | €584 | €916 | €1k | €4k | €4k | ▼ 1.7% |
| Financial charges65/66B | €2k | €2k | €2k | €2k | €2k | ▼ 8.4% |
| Recurring financial charges65 | €2k | €2k | €2k | €2k | €2k | ▼ 8.4% |
| Profit (loss) for the period before taxes9903 | €53k | €45k | €66k | €114k | €145k | ▲ 27.0% |
| Income taxes67/77 | €12k | €10k | €15k | €26k | €34k | ▲ 31.0% |
| Profit (loss) for the period9904 | €41k | €35k | €51k | €88k | €111k | ▲ 25.8% |
| Profit (loss) for the period to be appropriated9905 | €41k | €35k | €51k | €88k | €111k | ▲ 25.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €197k | €215k | €268k | €294k | €350k | ▲ 19.2% |
| Fixed assets21/28 | €113k | €111k | €105k | €97k | €89k | ▼ 8.5% |
| Tangible fixed assets22/27 | €113k | €111k | €105k | €97k | €89k | ▼ 8.5% |
| Land and buildings22 | €109k | €103k | €96k | €90k | €83k | ▼ 7.1% |
| Furniture and vehicles24 | €4k | €8k | €9k | €7k | €5k | ▼ 25.6% |
| Current assets29/58 | €83k | €104k | €163k | €197k | €262k | ▲ 32.8% |
| Amounts receivable after more than one year29 | €23k | €55k | €88k | €121k | €148k | ▲ 23.2% |
| Trade receivables290 | €23k | €3k | €3k | €3k | €3k | = |
| Other amounts receivable291 | - | €52k | €85k | €117k | €145k | ▲ 23.8% |
| Amounts receivable within one year40/41 | €15k | €13k | €12k | €326 | €11k | ▲ 3,304% |
| Trade receivables40 | €15k | €0 | - | - | €11k | - |
| Other amounts receivable41 | €177 | €13k | €12k | €326 | €30 | ▼ 90.7% |
| Cash at bank and in hand54/58 | €44k | €36k | €61k | €74k | €99k | ▲ 34.0% |
| Deferred charges and accrued income490/1 | €2k | €377 | €2k | €2k | €3k | ▲ 41.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €197k | €215k | €268k | €294k | €350k | ▲ 19.2% |
| Equity10/15 | €6k | €41k | €33k | €121k | €121k | = |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves13 | €809 | €809 | €809 | €809 | €809 | = |
| Tax-exempt reserves132 | €384 | €384 | €384 | €384 | €384 | = |
| Distributable reserves133 | €425 | €425 | €425 | €425 | €425 | = |
| Profit (loss) carried forward14 | €0 | €35k | €27k | €115k | €115k | = |
| Amounts payable17/49 | €191k | €174k | €235k | €173k | €229k | ▲ 32.7% |
| Amounts payable after more than one year17 | €102k | €94k | €86k | €78k | €70k | ▼ 10.8% |
| Financial debts170/4 | €102k | €94k | €86k | €77k | €69k | ▼ 10.9% |
| Other amounts payable178/9 | - | - | - | €1k | €1k | = |
| Amounts payable within one year42/48 | €74k | €67k | €135k | €95k | €160k | ▲ 68.6% |
| Current portion of amounts payable after more than one year42 | €8k | €8k | €8k | €8k | €8k | ▲ 1.4% |
| Financial debts43 | €198 | €0 | €5 | €2 | €41 | ▲ 1,925% |
| Credit institutions430/8 | €198 | €0 | €5 | €2 | €41 | ▲ 1,925% |
| Trade debts44 | €10k | €5k | €4k | €7k | €4k | ▼ 36.3% |
| Suppliers440/4 | €10k | €5k | €4k | €7k | €4k | ▼ 36.3% |
| Taxes, remuneration and social security45 | €7k | €7k | €12k | €21k | €18k | ▼ 11.2% |
| Taxes450/3 | €7k | €7k | €12k | €21k | €18k | ▼ 11.2% |
| Other amounts payable47/48 | €50k | €47k | €111k | €59k | €128k | ▲ 118% |
| Accrued charges and deferred income492/3 | €15k | €13k | €14k | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41k | €35k | €51k | €88k | €111k | ▲ 25.8% |
| + Depreciation and write-downs630 | €11k | €8k | €9k | €9k | €9k | ▼ 2.1% |
| Operating cash flow (approximation) | €51k | €43k | €60k | €97k | €120k | ▲ 23.1% |
| Investment in fixed assets (approximation) | - | €-6k | €-3k | €-956 | €-825 | ▲ 13.7% |
| Change in cash | - | €-8k | €25k | €13k | €25k | ▲ 90.6% |
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
07-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €111k ▲25.8%
Operating result €143k, net result €111k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100kEq €121k ▲269%
7 profitable years in a row build equity to €121k.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are 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, Bornem · 1 establishment unit since 2016
Ground area
590 m²
Building footprint
122 m²
Volume, LiDAR
807 m³
Parcel 12015A0649/00B002, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Change2Grow
since 20162.256.540.989
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12015A0649/00B002 | Flanders | 590 m² | 1 · 122 m² | 10.6 m · 2 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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,867 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
Founded05-07-2016
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
E-mail
steven.everaert@change2grow.com
Phone
0478 60 28 13
Scores and ratios are computed by Checked and are not a credit decision.