CHANGEFOCUS
ActiveSummary
CHANGEFOCUS has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €375,153 and a net result of €45,114. Equity has been growing by about 3.9% per year since 2018. Its solvency ranks better than 93% of 37,586 sector peers (NACE 70, financial year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-12-1992 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.060.243.376 9840 Nazareth-De Pinte, since 05-01-1993
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- Devisch MarcDirector
- Marc Devischenige aandeelhouderdeed of 11-01-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €21,658
- ▼ 10.7%
- Turnover
- ≈ €100,000
- estimated
- Profit
- €45,114
- ▲ 678%
- Equity
- €375,153
- ▲ 13.7%
- Total assets
- €399,740
- ▲ 13.9%
- Staff
- ≈ 0 FTE
- estimated
- 2025 accounts not filed, 97 days past the deadline
Score breakdownraises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed on 27-08-2025)lowers riskLiquidity: current ratio 13.70, cash €86,882Sector: Activities of head offices; management consultancy activities (NACE 70)Equity €375,153 (93.8% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 86% of them on solvency, 69% on liquidity, 51% on profitability and 61% on growth.
The bankruptcy probability was computed on 04-11-2026 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 31-12-2024.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 53 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.
Searched, nothing found (1)
Financials
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 27-08-2025 PDF all 31 filings
Every figure per financial year
The operating result for 2024 is 5% higher than in 2023 and the highest since 2020. It is the third rise in a row, after the fall in 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 |
|---|---|---|---|
| Tangible fixed assets | €129,157 | €4,252 | €2,107 |
| Financial fixed assets | €6,375 | - | - |
| Depreciation and write-downs of the year | €3,478 | €5,546 | €6,474 |
Source: notes to the 2022 to 2024 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €297 awarded · €297 paid| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €5,468 | €5,888 | €1,519 | ▼ 74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,140 | €3,011 | €3,181 | €2,776 | €3,478 | €5,546 | €6,474 | ▲ 16.7% |
| Other operating charges640/8 | - | - | - | - | €469 | €1,698 | €2,026 | ▲ 19.3% |
| Gross operating margin9900 | €10,005 | -€6,904 | €32,021 | €19,159 | €13,080 | €24,243 | €21,658 | ▼ 10.7% |
| Operating profit (loss)9901 | -€23,320 | -€40,354 | €12,022 | €1,225 | €3,664 | €11,112 | €11,639 | ▲ 4.7% |
| Financial income75/76B | - | - | - | - | €2,010 | €0 | €34,948 | ▲ 582,467× |
| Recurring financial income75 | €1,097 | - | - | €28,281 | €2,010 | €0 | €34,948 | ▲ 582,467× |
| Financial charges65/66B | - | - | - | - | €82 | €2,602 | €67 | ▼ 97.4% |
| Recurring financial charges65 | €13 | - | - | €79 | €82 | €2,602 | €67 | ▼ 97.4% |
| Profit (loss) for the period before taxes9903 | -€22,236 | -€39,012 | €14,738 | €29,427 | €5,592 | €8,510 | €46,520 | ▲ 447% |
| Income taxes67/77 | €313 | €76,861 | -€4,298 | €79 | €0 | €2,713 | €1,406 | ▼ 48.2% |
| Profit (loss) for the period9904 | -€22,549 | -€17,975 | €19,036 | €29,348 | €5,592 | €5,797 | €45,114 | ▲ 678% |
| Profit (loss) for the period to be appropriated9905 | -€22,549 | €172,146 | €19,036 | €29,348 | €5,592 | €5,797 | €45,114 | ▲ 678% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €431,482 | €372,207 | €339,077 | €290,313 | €334,369 | €350,968 | €399,740 | ▲ 13.9% |
| Fixed assets21/28 | €13,107 | €10,366 | €8,618 | €6,962 | €71,148 | €69,854 | €64,475 | ▼ 7.7% |
| Tangible fixed assets22/27 | €13,107 | €10,366 | €8,618 | €6,962 | €64,773 | €63,479 | €59,112 | ▼ 6.9% |
| Land and buildings22 | - | - | - | - | €60,381 | €57,233 | €54,080 | ▼ 5.5% |
| Plant, machinery and equipment23 | - | - | - | - | €4,392 | €3,917 | €0 | ▼ 100% |
| Leasing and similar rights25 | - | - | - | - | - | - | €2,944 | - |
| Other tangible fixed assets26 | - | - | - | - | - | €2,328 | €2,088 | ▼ 10.3% |
| Financial fixed assets28 | - | - | - | - | €6,375 | €6,375 | €5,363 | ▼ 15.9% |
| Current assets29/58 | €418,376 | €361,841 | €330,459 | €283,351 | €263,221 | €281,114 | €335,265 | ▲ 19.3% |
| Amounts receivable after more than one year29 | - | - | - | - | €0 | - | - | - |
| Other amounts receivable291 | - | - | - | - | €0 | - | - | - |
| Amounts receivable within one year40/41 | €11,489 | €10,180 | €6,135 | €1,200 | €5,396 | €10,858 | €5,256 | ▼ 51.6% |
| Trade receivables40 | - | - | - | - | €2,376 | €8,858 | €4,690 | ▼ 47.1% |
| Other amounts receivable41 | - | - | - | - | €3,020 | €2,000 | €566 | ▼ 71.7% |
| Current investments50/53 | €172,782 | €78,440 | €81,156 | €109,437 | €111,446 | €128,899 | €243,127 | ▲ 88.6% |
| Cash at bank and in hand54/58 | €164,105 | €223,220 | €203,167 | €132,715 | €146,378 | €141,357 | €86,882 | ▼ 38.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €431,482 | €372,207 | €339,077 | €290,313 | €334,369 | €350,968 | €399,740 | ▲ 13.9% |
| Equity10/15 | €297,825 | €237,850 | €241,887 | €271,235 | €324,242 | €330,039 | €375,153 | ▲ 13.7% |
| Contributions10/11 | €18,600 | €18,600 | - | - | €37,200 | €37,200 | €37,200 | = |
| Reserves13 | €317,371 | €219,250 | €219,250 | €249,250 | €286,251 | €292,048 | €336,963 | ▲ 15.4% |
| Non-distributable reserves130/1 | - | - | - | - | €34,019 | €34,019 | €34,018 | = |
| Reserves not available under the articles1311 | - | - | - | - | €34,019 | €34,019 | €34,018 | = |
| Tax-exempt reserves132 | - | - | - | - | €20,687 | €20,687 | €20,687 | = |
| Distributable reserves133 | - | - | - | - | €231,545 | €237,342 | €282,258 | ▲ 18.9% |
| Profit (loss) carried forward14 | -€38,146 | €0 | €4,037 | €3,385 | €792 | €792 | €990 | ▲ 25.0% |
| Provisions and deferred taxes16 | €97,898 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €35,759 | €134,356 | €97,190 | €19,078 | €10,126 | €20,928 | €24,587 | ▲ 17.5% |
| Amounts payable within one year42/48 | €35,759 | €134,356 | €97,190 | €19,078 | €10,126 | €20,928 | €24,473 | ▲ 16.9% |
| Financial debts43 | - | - | - | - | - | - | €24,187 | - |
| Other loans439 | - | - | - | - | - | - | €24,187 | - |
| Trade debts44 | €15,706 | €6,057 | €4,848 | €3,473 | €3,739 | €2,164 | €286 | ▼ 86.8% |
| Suppliers440/4 | - | - | - | - | €3,739 | €2,164 | €286 | ▼ 86.8% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,432 | €2,718 | - | - |
| Taxes450/3 | - | - | - | - | €0 | €2,718 | - | - |
| Remuneration and social security454/9 | - | - | - | - | €1,432 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | €4,955 | €16,047 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €114 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€22,549 | -€17,975 | €19,036 | €29,348 | €5,592 | €5,797 | €45,114 | ▲ 678% |
| + Depreciation and write-downs630 | €3,140 | €3,011 | €3,181 | €2,776 | €3,478 | €5,546 | €6,474 | ▲ 16.7% |
| Operating cash flow (approximation) | -€19,409 | -€14,964 | €22,217 | €32,125 | €9,070 | €11,343 | €51,588 | ▲ 355% |
| Investment in fixed assets (approximation) | - | -€271 | -€1,433 | -€1,120 | -€67,665 | -€4,252 | -€1,095 | ▲ 74.2% |
| Change in cash | - | €59,115 | -€20,053 | -€70,452 | €13,663 | -€5,021 | -€54,475 | ▼ 985% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as CHANGEFOCUS has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CHANGEFOCUS itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for CHANGEFOCUS. 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.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 27-08-2025 | 2025-00409449 | |
| 31-12-2023 | micro format | 27-05-2024 | 2024-00098680 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00263645 | |
| 31-12-2021 | micro format | 16-03-2022 | 2022-08100524 | |
| 31-12-2020 | micro format | 14-04-2021 | 2021-10700070 | |
| 31-12-2019 | micro format | 06-07-2020 | 2020-27300053 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-55800173 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-41300601 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56100429 | |
| 31-12-2015 | abbreviated format | 29-08-2016 | 2016-52300090 |
Board & ownership
Directors
Owners and capital
Shareholders
- Marc Devisch enige aandeelhouder · all shares
Capital transactions
- 11-01-2023 Capital stated in the deed · 2,914 shares
Mandate history
- Board
- mandate already running before its first mention
- end not dated
| Name | Functions and periods |
|---|---|
| Devisch Marc |
|
| DEVISCH,MarcMaurice |
|
Network & group
Acquisitions and mergers
1 transactionCompanies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of CHANGEFOCUS. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
11-01
Gazette deed
Merger: CHANGEFOCUS takes over SKILLS AT WORKIssue of 413 shares · Resignation: Marc Devisch (director) · Appointment: DEVISCH, MarcMaurice (statutory director)9 points ▸
- General meeting, 28-12-2022, mentioned twice in the deed
- Marc Devisch holds all the shares, mentioned twice in the deed
- Accounting effect, 01-10-2022
- Auditor report, 05-12-2022
- Director resignation, Marc Devisch
- Purpose change, “Het leveren van management advies op vlak van innovatie, technologie, strategie, HR, financiën, ICT, marketing, onderhandelingen; Het geven van trainingen en…” (deed in Dutch)
- 2,914 shares
- Director appointment, DEVISCH, MarcMaurice (statutory director)
- Net-asset statement, 30-09-2022
- The deed holds 16 more points.
14-11
Gazette deed
Merger proposal: CHANGEFOCUS takes over SKILLS AT WORK“Voorwerp van de overnemende vennootschap” (deed in Dutch)3 points ▸
- Purpose change, “Voorwerp van de overnemende vennootschap” (deed in Dutch)
- Accounting effect, 01-10-2022
- Director in office, Marc Devisch (sole director)
- The deed holds 6 more points.
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
11 activities
- Het leveren van management advies op vlak van innovatie, technologie, strategie, HR, financiën, IСТ, marketing, onderhandelingen;
- Het geven van trainingen en ccaching op vlak van innovatie, technologie, strategie, HR, financiën, ICT, marketing, onderhandelingen,
- Het beleggen, intekenen op, vast overnemen, plaatsen, kopen, verkopen en verhandelen van aandelen, deelbewijzen, obligaties, warrants, certificaten, schuldvorderingen, gelden en andere roerende waarden uitgegeven door Belgische of buitenlandse ondernemingen al dan niet onder de vorm van handelsvennootschappen, administratiekantoren, instellingen en verenigingen al dan niet met een (semi-) publiekrechtelijk statuut.
- De aankoop en de verkoop van alle onbebouwde en bebouwde onroerende goederen van alle aard en voor alle bestemmingen, het verkavelen, uitrusten, inrichten en tot waarde brengen op alle mogelijke wijzen van alle onbebouwde onroerende goederen, het bouwen, verbouwen, aanpassen, herstellen van alle gebouwen en constructies bij middel van alle technieken en in alle stadia van afwerking.
- Het huren, verhuren, leasen en uitbaten op alle mogelijke wijzen van alle mogelijke onbebouwde en bebouwde onroerende goederen.
- Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer van een onroerend patrimonium, alsook van een roerend patrimonium doch dit slechts voor eigen rekening.
- De vennootschap mag alle verbintenissen aangaan, kredieten en leningen toestaan aan haar aandeelhouders en/of bestuurders, zich voor derden borg stellen door haar goederen in hypotheek of in pand te geven, inclusief de eigen handelszaak.
- Het waarnemen van bestuurdersmandaten in andere vennootschappen.
- De vennootschap mag samenwerken met of deelnemen in, of op gelijk welke wijze, rechtstreeks of onrechtstreeks, belangen nemen in ondernemingen van allerlei aard, alle verbintenissen aangaan, onroerende goederen kopen en verkopen, kredieten en leningen aangaan en toestaan, zich voor derden borg stellen door haar goederen in hypotheek of in pand te geven.
- De vennootschap mag alle industriële en handelsverrichtingen en verhandelingen van onroerende, roerende of financiële aard uitvoeren die rechtstreeks of onrechtstreeks bij haar voorwerp aansluiten. Zij mag verrichtingen van roerende en onroerende huur aangaan. De vennootschap mag haar voorwerp verwezenlijken op alle wijzen die zij best geschikt acht, voor eigen rekening of voor rekening van derden, zo in België als in het buitenland. Zij mag deelnemen aan de bedrijvigheid van andere vennootschappen met hetzelfde of verwant voorwerp, door inbreng, fusie of hoe dan ook. Zij mag haar goederen verpanden tot waarborg van verbintenissen van derden voor wie zij borgstelling willen vertenen.
- De vennootschap zal alle burgerlijke, industriële, commerciële, financiële, roerende en onroerende handelingen mogen verrichten in rechtstreeks of onrechtstreeks verband met haar voorwerp, die van aard zijn de verwezenlijking ervan te vergemakkelijken of uit te breiden, en die daartoe noodzakelijk zijn, nuttig of zelfs alleen maar bevorderend. De vennootschap kan optreden als bestuurder of vereffenaar in andere vennootschappen.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44012B0590/00G000 | Flanders | 780 m² | 1 · 124 m² | 8.8 m · 2 |