CIJFERAARS
ActiveSummary
CIJFERAARS has been active since 1998 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €132,209 and a net result of €12,740. Equity has been growing by about 8.6% per year since 2018. Its solvency ranks better than 48% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-04-1998 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.087.180.573 8310 Brugge, since 17-06-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 13-03-2025
Board and ownership
- FidiscDirector · since 23-12-2016 · permanent representative DILLEN Stijn
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €29,457
- ▼ 1.5%
- Turnover
- ≈ €76,000
- estimated
- Profit
- €12,740
- ▼ 4.0%
- Equity
- €132,209
- ▲ 7.1%
- Total assets
- €264,548
- ▼ 4.2%
Score breakdownraises riskLiquidity: current ratio 0.31, cash €6,740lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €264,548Figures for financial year 2025 (filed on 23-03-2026)Show the evidence
Checked score
About 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 46% of them on solvency, 42% on liquidity, 39% on profitability and 54% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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 7 accounts on average 85 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 (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-03-2026 PDF all 27 filings
Every figure per financial year
The operating result for 2025 is 1% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €141,667 | €125,000 |
| Mortgages, amount registered | - | - | €250,000 | €250,000 | €250,000 |
| Carrying value of the mortgaged assets | - | - | €273,952 | €265,565 | €257,178 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,000 | - | - |
| Depreciation and write-downs of the year | €8,372 | €8,372 | €8,387 | €8,387 | €8,387 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,317 | €15,317 | €9,527 | €8,372 | €8,372 | €8,387 | €8,387 | €8,387 | = |
| Other operating charges640/8 | - | - | - | €1,964 | €2,005 | €2,191 | €2,908 | €2,375 | ▼ 18.3% |
| Gross operating margin9900 | €57,063 | €60,317 | €52,770 | €41,855 | €29,828 | €26,928 | €29,893 | €29,457 | ▼ 1.5% |
| Operating profit (loss)9901 | €40,457 | €42,290 | €38,585 | €31,519 | €19,452 | €16,350 | €18,599 | €18,695 | ▲ 0.5% |
| Financial income75/76B | - | - | - | - | - | €3 | - | - | - |
| Recurring financial income75 | - | - | €88 | - | - | €3 | - | - | - |
| Financial charges65/66B | - | - | - | €2,551 | €2,309 | €2,107 | €1,910 | €1,708 | ▼ 10.6% |
| Recurring financial charges65 | €9,126 | €8,222 | €6,104 | €2,551 | €2,309 | €2,107 | €1,910 | €1,708 | ▼ 10.6% |
| Profit (loss) for the period before taxes9903 | €31,330 | €34,068 | €32,570 | €28,968 | €17,143 | €14,246 | €16,688 | €16,987 | ▲ 1.8% |
| Income taxes67/77 | - | €3,120 | €8,142 | €2,742 | €2,786 | €2,794 | €3,422 | €4,247 | ▲ 24.1% |
| Profit (loss) for the period9904 | €31,330 | €30,948 | €24,427 | €26,226 | €14,357 | €11,452 | €13,266 | €12,740 | ▼ 4.0% |
| Profit (loss) for the period to be appropriated9905 | €31,330 | €30,948 | €24,427 | €26,226 | €14,357 | €11,452 | €13,266 | €12,740 | ▼ 4.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €445,608 | €437,667 | €321,581 | €306,302 | €286,143 | €281,857 | €276,194 | €264,548 | ▼ 4.2% |
| Formation expenses20 | €2,309 | €1,155 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €438,764 | €424,602 | €298,083 | €289,711 | €281,339 | €273,952 | €265,565 | €257,178 | ▼ 3.2% |
| Tangible fixed assets22/27 | €438,764 | €424,602 | €298,083 | €289,711 | €281,339 | €273,952 | €265,565 | €257,178 | ▼ 3.2% |
| Land and buildings22 | - | - | - | €289,711 | €281,339 | €273,952 | €265,565 | €257,178 | ▼ 3.2% |
| Current assets29/58 | €4,535 | €11,910 | €23,498 | €16,591 | €4,804 | €7,906 | €10,629 | €7,370 | ▼ 30.7% |
| Amounts receivable within one year40/41 | €3 | €882 | €1,050 | €0 | €1,361 | €1,513 | €1,261 | €630 | ▼ 50.0% |
| Trade receivables40 | - | - | - | - | €100 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0 | €1,261 | €1,513 | €1,261 | €630 | ▼ 50.0% |
| Cash at bank and in hand54/58 | €4,532 | €11,027 | €22,448 | €15,085 | €3,443 | €6,393 | €9,368 | €6,740 | ▼ 28.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,506 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €445,608 | €437,667 | €321,581 | €306,302 | €286,143 | €281,857 | €276,194 | €264,548 | ▼ 4.2% |
| Equity10/15 | €57,091 | €88,039 | €88,167 | €96,393 | €104,750 | €113,203 | €123,469 | €132,209 | ▲ 7.1% |
| Contributions10/11 | €18,662 | €18,662 | - | €18,662 | €18,662 | €18,662 | €18,662 | €18,662 | = |
| Reserves13 | €38,430 | €69,378 | €69,505 | €77,731 | €86,089 | €94,541 | €104,807 | €113,547 | ▲ 8.3% |
| Non-distributable reserves130/1 | - | - | - | €1,866 | €1,866 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,866 | €1,866 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €776 | €776 | €776 | €776 | €776 | = |
| Distributable reserves133 | - | - | - | €75,089 | €83,446 | €93,765 | €104,031 | €112,771 | ▲ 8.4% |
| Amounts payable17/49 | €388,517 | €349,627 | €233,414 | €209,909 | €181,393 | €168,655 | €152,725 | €132,339 | ▼ 13.3% |
| Amounts payable after more than one year17 | €349,355 | €311,820 | €191,667 | €175,000 | €158,333 | €141,667 | €125,000 | €108,333 | ▼ 13.3% |
| Financial debts170/4 | - | - | - | €175,000 | €158,333 | €141,667 | €125,000 | €108,333 | ▼ 13.3% |
| Amounts payable within one year42/48 | €39,162 | €37,807 | €41,747 | €34,909 | €23,060 | €26,988 | €27,725 | €24,005 | ▼ 13.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,667 | €16,667 | €16,667 | €16,667 | €16,667 | = |
| Trade debts44 | €1,936 | €272 | €138 | - | €357 | €7,260 | €7,386 | €2,420 | ▼ 67.2% |
| Suppliers440/4 | - | - | - | - | €357 | €7,260 | €7,386 | €2,420 | ▼ 67.2% |
| Taxes, remuneration and social security45 | - | - | - | €242 | €36 | €62 | €672 | €919 | ▲ 36.7% |
| Taxes450/3 | - | - | - | €242 | €36 | €62 | €672 | €919 | ▲ 36.7% |
| Other amounts payable47/48 | - | - | - | €18,000 | €6,000 | €3,000 | €3,000 | €4,000 | ▲ 33.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,330 | €30,948 | €24,427 | €26,226 | €14,357 | €11,452 | €13,266 | €12,740 | ▼ 4.0% |
| + Depreciation and write-downs630 | €15,317 | €15,317 | €9,527 | €8,372 | €8,372 | €8,387 | €8,387 | €8,387 | = |
| Operating cash flow (approximation) | €46,647 | €46,265 | €33,954 | €34,598 | €22,729 | €19,839 | €21,653 | €21,127 | ▼ 2.4% |
| Investment in fixed assets (approximation) | - | -€1,155 | €116,993 | €0 | €0 | -€1,000 | €0 | €0 | - |
| Change in cash | - | €6,495 | €11,421 | -€7,363 | -€11,642 | €2,950 | €2,975 | -€2,628 | - |
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, 17,041 companies had the same profile as CIJFERAARS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CIJFERAARS 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 17,041 companies, not a prediction for CIJFERAARS. 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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-03-2026 | 2026-00059311 | |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00341803 | |
| 31-12-2023 | abbreviated format | 07-05-2024 | 2024-00084794 | |
| 31-12-2022 | abbreviated format | 08-03-2023 | 2023-00037670 | |
| 31-12-2021 | abbreviated format | 22-06-2022 | 2022-20086862 | |
| 31-12-2020 | abbreviated format | 09-02-2021 | 2021-05000543 | |
| 31-12-2019 | abbreviated format | 07-07-2020 | 2020-27000517 | |
| 31-12-2018 | abbreviated format | 26-03-2019 | 2019-07900243 | |
| 31-12-2017 | abbreviated format | 17-04-2018 | 2018-10100106 | |
| 31-12-2016 | micro format | 10-05-2017 | 2017-11700364 |
Board & ownership
Directors
Board 1
Permanent representatives 1
Owners and capital
Shareholders
2 ownersOwners 2
- Equity €285,274 Profit of €9,369 in 2025 (profit of €95,684 in 2024) Checked score 9533.33%
- Sourceact 02-01-2024share not stated
Capital transactions
- 02-01-2024 Capital stated in the deed · 300 shares
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Fidisc |
|
| L & L |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Één of meer bestuurders, natuurlijke personen of rechtspersonen, al dan niet aandeelhouder, algemene vergadering die benoemt bepaalt aantal…”
Articles of association, deed of 02-01-2024 (in Dutch)
Network & group
Companies at the same address
2 other companiesConnections & network
1 connected companyThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
07-02
Gazette deed
Resignation: BV L & L (director)Permanent representatives: Ludo Ingelbrecht and Stijn Dillen · Director discharge7 points ▸
- General meeting, 23-12-2024
- Director resignation, BV L & L (director (not named in the articles))
- Director discharge, BV L & L
- Permanent representative, Ludo Ingelbrecht (vaste vertegenwoordiger belast met de uitvoering van zijn bestuursmandaat in naam en voor rekening van de rechtspersoon)
- Other provision, “kennisname en akkoord met ontslag vaste vertegenwoordiger” (deed in Dutch)
- Permanent representative, Stijn Dillen
- Permanent representative, Ludo Ingelbrecht
02-01
Gazette deed
Purpose · Amendment of the articles · Legal-form change · Resignations & appointmentsPermanent representatives: INGELBRECHT Ludo and DILLEN Stijn · Resignations: L & L (manager) and Fidisc (manager) · Reappointments: L & L (director) and Fidisc (director)32 points ▸
- General meeting, 28-12-2023
- Incorporation, 07-04-1998
- Other provision, “Gent, inschrijving rechtspersonenregister” (deed in Dutch)
- Fidisc holds 200 shares
- L & L holds 100 shares
- Capital
- Board composition, L & L (director)
- Board composition, Fidisc (director)
- Permanent representative, INGELBRECHT Ludo, mentioned 2 times in the deed
- Permanent representative, DILLEN Stijn, mentioned 2 times in the deed
- Other provision, “verzaking oproepingsformaliteiten, datum en agenda buitengewone algemene vergadering” (deed in Dutch)
- Other provision, “statuten aanpassen aan WVV, statutair onbeschikbare eigenvermogensrekening schrappen en beschikbaar maken” (deed in Dutch)
- The act holds 20 more points.
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
Text of the purpose
“Het ter beschikking stellen, zelfs tegen kostprijs, van immateriële, materiële en menselijke middelen aan haar eigen aandeelhouders of aan de vennootschappen van haar eigen aandeel-houders om de uitoefening van de beroepsactiviteiten van haar aandeelhouders te vergemakkelijken.”
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 |
|---|---|---|---|---|
| 31434C0515/00E008 | Flanders | 2,494 m² | 1 · 214 m² | 7.1 m |