CIFRAS
ActiveSummary
CIFRAS has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €151k and a net result of €-1k. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 87% 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
Profitability36▲+21
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity ample (current ratio 8.81 against 11.75 in 2024; short-term debt: 11.1% and cash: 82.6% of total assets), and 11.1% 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+raises 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 · 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
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
31 d early
2023
61 d late
2022
31 d late
2021
61 d late
2020
30 d late
2019
61 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
Equity
€151k▼ 0.9%
2024 · €153k
2018: €99klowest in 8 years
2019: €122k▲ +23.6% vs 2018
2020: €148k▲ +21.0% vs 2019
2021: €163k▲ +10.2% vs 2020
2022: €179k▲ +9.7% vs 2021highest in 8 years
2023: €158k▼ -11.5% vs 2022
2024: €153k▼ -3.5% vs 2023
2025: €151k▼ -0.9% vs 2024
2018 → 2025
Total assets
€170k▲ 2.2%
2024 · €167k
2018: €140klowest in 8 years
2019: €167k▲ +19.7% vs 2018
2020: €197k▲ +17.7% vs 2019
2021: €213k▲ +8.5% vs 2020highest in 8 years
2022: €193k▼ -9.5% vs 2021
2023: €173k▼ -10.7% vs 2022
2024: €167k▼ -3.3% vs 2023
2025: €170k▲ +2.2% vs 2024
2018 → 2025
Net result
€-1k▲ 76.4%
2024 · €-6k
2018: €31khighest in 8 years
2019: €28k▼ -8.4% vs 2018
2020: €26k▼ -9.6% vs 2019
2021: €15k▼ -41.1% vs 2020
2022: €16k▲ +5.1% vs 2021
2023: €-21k▼ -230% vs 2022lowest in 8 years
2024: €-6k▲ +73.2% vs 2023
2025: €-1k▲ +76.4% vs 2024
2018 → 2025
Working capital
€148k▼ 1.9%
2024 · €151k
2018: €95klowest in 8 years
2019: €101k▲ +6.7% vs 2018
2020: €133k▲ +31.1% vs 2019
2021: €152k▲ +14.0% vs 2020
2022: €170k▲ +12.3% vs 2021highest in 8 years
2023: €156k▼ -8.4% vs 2022
2024: €151k▼ -3.0% vs 2023
2025: €148k▼ -1.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€163k-€179k▲ 9.7%€158k▼ 11.5%€153k▼ 3.5%€151k▼ 0.9%
2021: €163k
2022: €179k▲ +9.7% vs 2021highest in 5 years
2023: €158k▼ -11.5% vs 2022
2024: €153k▼ -3.5% vs 2023
2025: €151k▼ -0.9% vs 2024lowest in 5 years
Operating result€22k-€23k▲ 4.3%€-20k€-5k▲ 75.4%€-577▲ 88.3%
2021: €22k
2022: €23k▲ +4.3% vs 2021highest in 5 years
2023: €-20k▼ -187% vs 2022lowest in 5 years
2024: €-5k▲ +75.4% vs 2023
2025: €-577▲ +88.3% vs 2024
Net result€15k-€16k▲ 5.1%€-21k€-6k▲ 73.2%€-1k▲ 76.4%
2021: €15k
2022: €16k▲ +5.1% vs 2021highest in 5 years
2023: €-21k▼ -230% vs 2022lowest in 5 years
2024: €-6k▲ +73.2% vs 2023
2025: €-1k▲ +76.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €577 in 2025 against €5k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €170k
Fixed assets
€3k ▲ 99.0%
Current assets
€167k ▲ 1.2%
Equity and liabilities €170k
Equity
€151k ▼ 0.9%
Debt
€19k ▲ 34.8%
Debt's share of the balance-sheet total rises from 8.4% to 11.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€1k▲
2024 · €-3k
Cash flow
€588▲
2024 · €-4k
Current ratio
8.81▼
2024 · 11.75
Quick ratio
8.74▼
2024 · 11.62
Debt to equity
0.13▲
2024 · 0.09
ROE
-0.9%▲
2024 · -3.6%
ROA
-0.8%▲
2024 · -3.3%
Interest coverage
2.24▲
2024 · -7.24
Debt ≤ 1 year
€19k▲
2024 · €14k
Income taxes
€141▲
2024 · €140
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€167k€170k▲
Fixed assets21/28€2k€3k▲
Tangible fixed assets22/27€2k€3k▲
Plant, machinery and equipment23€312€3k▲
Furniture and vehicles24€1k€396▼
Financial fixed assets28€50€50=
Current assets29/58€165k€167k▲
Stocks and contracts in progress3€2k€1k▼
Stocks30/36€2k€1k▼
Amounts receivable within one year40/41€27k€23k▼
Trade receivables40€26k€23k▼
Other amounts receivable41€184€0▼
Cash at bank and in hand54/58€135k€141k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€167k€170k▲
Equity10/15€153k€151k▼
Contributions10/11€6k€6k=
Reserves13€98k€98k=
Distributable reserves133€98k€98k=
Profit (loss) carried forward14€48k€47k▼
Amounts payable17/49€14k€19k▲
Amounts payable within one year42/48€14k€19k▲
Trade debts44€1k€3k▲
Suppliers440/4€1k€3k▲
Taxes, remuneration and social security45€3k€3k▼
Taxes450/3€3k€3k▼
Other amounts payable47/48€9k€13k▲
Accrued charges and deferred income492/3€25€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€1k€770▼
Gross operating margin9900€-2k€2k▲
Operating profit (loss)9901€-5k€-577▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€471€587▲
Recurring financial charges65€471€587▲
Profit (loss) for the period before taxes9903€-5k€-1k▲
Income taxes67/77€140€141▲
Profit (loss) for the period9904€-6k€-1k▲
Profit (loss) for the period to be appropriated9905€-6k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€48k€47k▼
Profit (loss) brought forward from the previous period14P€54k€48k▼
The notes to these accounts (16 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €6k | €7k | €2k | €2k | ▲ 24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €393 | €0 | €-393 | €0 | - | - |
| Other operating charges640/8 | €314 | €168 | €970 | €1k | €770 | ▼ 46.2% |
| Gross operating margin9900 | €30k | €29k | €-13k | €-2k | €2k | ▲ 206% |
| Operating profit (loss)9901 | €22k | €23k | €-20k | €-5k | €-577 | ▲ 88.3% |
| Financial income75/76B | €3 | €0 | €0 | €0 | - | - |
| Recurring financial income75 | €3 | €0 | €0 | €0 | - | - |
| Financial charges65/66B | €386 | €434 | €514 | €471 | €587 | ▲ 24.8% |
| Recurring financial charges65 | €386 | €434 | €514 | €471 | €587 | ▲ 24.8% |
| Profit (loss) for the period before taxes9903 | €22k | €23k | €-21k | €-5k | €-1k | ▲ 78.4% |
| Income taxes67/77 | €7k | €7k | €132 | €140 | €141 | ▲ 1.0% |
| Profit (loss) for the period9904 | €15k | €16k | €-21k | €-6k | €-1k | ▲ 76.4% |
| Profit (loss) for the period to be appropriated9905 | €15k | €16k | €-21k | €-6k | €-1k | ▲ 76.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €213k | €193k | €173k | €167k | €170k | ▲ 2.2% |
| Fixed assets21/28 | €12k | €9k | €2k | €2k | €3k | ▲ 99.0% |
| Tangible fixed assets22/27 | €11k | €9k | €2k | €2k | €3k | ▲ 102% |
| Plant, machinery and equipment23 | €2k | €913 | €625 | €312 | €3k | ▲ 791% |
| Furniture and vehicles24 | €10k | €8k | €2k | €1k | €396 | ▼ 68.6% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €202k | €184k | €170k | €165k | €167k | ▲ 1.2% |
| Stocks and contracts in progress3 | €2k | €2k | €2k | €2k | €1k | ▼ 30.5% |
| Stocks30/36 | €2k | €2k | €2k | €2k | €1k | ▼ 30.5% |
| Amounts receivable within one year40/41 | €50k | €41k | €27k | €27k | €23k | ▼ 15.0% |
| Trade receivables40 | €47k | €32k | €22k | €26k | €23k | ▼ 14.4% |
| Other amounts receivable41 | €4k | €9k | €5k | €184 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €148k | €141k | €140k | €135k | €141k | ▲ 4.5% |
| Deferred charges and accrued income490/1 | €962 | €820 | €950 | €2k | €3k | ▲ 27.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €213k | €193k | €173k | €167k | €170k | ▲ 2.2% |
| Equity10/15 | €163k | €179k | €158k | €153k | €151k | ▼ 0.9% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €83k | €98k | €98k | €98k | €98k | = |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | €82k | €97k | €98k | €98k | €98k | = |
| Profit (loss) carried forward14 | €73k | €74k | €54k | €48k | €47k | ▼ 2.7% |
| Amounts payable17/49 | €50k | €14k | €14k | €14k | €19k | ▲ 34.8% |
| Amounts payable within one year42/48 | €50k | €14k | €14k | €14k | €19k | ▲ 35.1% |
| Trade debts44 | €31k | €5k | €5k | €1k | €3k | ▲ 81.6% |
| Suppliers440/4 | €31k | €5k | €5k | €1k | €3k | ▲ 81.6% |
| Taxes, remuneration and social security45 | €12k | €0 | €132 | €3k | €3k | ▼ 2.5% |
| Taxes450/3 | €11k | €0 | €132 | €3k | €3k | ▼ 2.5% |
| Remuneration and social security454/9 | €500 | €0 | - | - | - | - |
| Other amounts payable47/48 | €8k | €9k | €9k | €9k | €13k | ▲ 40.8% |
| Accrued charges and deferred income492/3 | - | - | - | €25 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €16k | €-21k | €-6k | €-1k | ▲ 76.4% |
| + Depreciation and write-downs630 | €7k | €6k | €7k | €2k | €2k | ▲ 24.5% |
| Operating cash flow (approximation) | €22k | €22k | €-14k | €-4k | €588 | ▲ 115% |
| Investment in fixed assets (approximation) | - | €-3k | €-595 | €-743 | €-4k | ▼ 371% |
| Change in cash | - | €-8k | €-145 | €-6k | €6k | ▲ 206% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 13.04
Current ratio from 4.01 to 13.04; short-term debt falls from €50k to €14k.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Equity above €150kEq €163k ▲10.2%
4 profitable years in a row build equity to €163k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Equity above €100kEq €122k ▲23.6%
2 profitable years in a row build equity to €122k.
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Namur · 1 establishment unit since 2007
Ground area
5,397 m²
Building footprint
169 m²
Parcel 92302F0012/00L003, Wallonia. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
TSG Belgique
since 20072.163.717.929
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92302F0012/00L003 | Wallonia | 5,397 m² | 1 · 169 m² | - |
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.
Similar companies · same sector, comparable size
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QUESTA
BE 0840.101.657
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BE 0764.688.414
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Sophie HOSTE
BE 0786.357.818
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,797 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
Founded05-07-2007
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
66199Other activities auxiliary to financial services, excluding insurance and pension funding
73300Public relations and communication consultancy
85599Other education
Contact
E-mail
sh@cifras.beNamur
Phone
0475/41.29.03Namur
Scores and ratios are computed by Checked and are not a credit decision.