CLEARSOURCE
ActiveSummary
CLEARSOURCE has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €636k and a net result of €113k. Equity is growing by ~23.7% per year across the filed fiscal years. Its solvency ranks better than 57% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▼-2
Solvency85▲+18
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 3.38 against 2.48 in 2024; short-term debt: 29.6% and cash: 24.2% of total assets), and 40.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
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
59.9%
Return on assets
10.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
61 d late
2022
23 d late
2021
52 d late
2020
61 d late
2019
83 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€113k▼ 26.8%
2024 · €155k
2018: €63k
2019: €99k▲ +58.4% vs 2018
2020: €-57k▼ -157% vs 2019lowest in 8 years
2021: €23k▲ +141% vs 2020
2022: €297k▲ +1183% vs 2021highest in 8 years
2023: €26k▼ -91.2% vs 2022
2024: €155k▲ +490% vs 2023
2025: €113k▼ -26.8% vs 2024
2018 → 2025
Working capital
€748k▲ 1.7%
2024 · €736k
2018: €63k
2019: €61k▼ -3.6% vs 2018
2020: €36k▼ -41.2% vs 2019lowest in 8 years
2021: €198k▲ +452% vs 2020
2022: €281k▲ +41.9% vs 2021
2023: €333k▲ +18.6% vs 2022
2024: €736k▲ +121% vs 2023
2025: €748k▲ +1.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€157k-€342k▲ 118%€368k▲ 7.7%€523k▲ 42.0%€636k▲ 21.6%
2021: €157klowest in 5 years
2022: €342k▲ +118% vs 2021
2023: €368k▲ +7.7% vs 2022
2024: €523k▲ +42.0% vs 2023
2025: €636k▲ +21.6% vs 2024highest in 5 years
Operating result€58k-€428k▲ 634%€57k▼ 86.8%€213k▲ 277%€164k▼ 22.9%
2021: €58k
2022: €428k▲ +634% vs 2021highest in 5 years
2023: €57k▼ -86.8% vs 2022lowest in 5 years
2024: €213k▲ +277% vs 2023
2025: €164k▼ -22.9% vs 2024
Net result€23k-€297k▲ 1,183%€26k▼ 91.2%€155k▲ 490%€113k▼ 26.8%
2021: €23klowest in 5 years
2022: €297k▲ +1183% vs 2021highest in 5 years
2023: €26k▼ -91.2% vs 2022
2024: €155k▲ +490% vs 2023
2025: €113k▼ -26.8% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.06M
Equity
€636k ▲ 21.6%
Debt
€426k ▼ 40.2%
Debt's share of the balance-sheet total falls from 57.7% to 40.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€165k▼
2024 · €214k
Cash flow
€114k▼
2024 · €155k
Current ratio
3.38▲
2024 · 2.48
Debt to equity
0.67▼
2024 · 1.36
ROE
17.8%▼
2024 · 29.6%
ROA
10.7%▼
2024 · 12.5%
Interest coverage
13.66▲
2024 · 11.74
Debt ≤ 1 year
€314k▼
2024 · €499k
Debt > 1 year
€112k▼
2024 · €214k
Income taxes
€39k▼
2024 · €57k
Staff costs
€2k▼
2024 · €80k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.24M€1.06M▼
Fixed assets21/28€594-
Tangible fixed assets22/27€594-
Plant, machinery and equipment23€594-
Current assets29/58€1.23M€1.06M▼
Amounts receivable within one year40/41€679k€801k▲
Trade receivables40€679k€774k▲
Other amounts receivable41-€27k
Cash at bank and in hand54/58€551k€257k▼
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€1.24M€1.06M▼
Equity10/15€523k€636k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€499k€612k▲
Investment grants15€3k€3k=
Amounts payable17/49€712k€426k▼
Amounts payable after more than one year17€214k€112k▼
Financial debts170/4€164k€92k▼
Other amounts payable178/9€50k€20k▼
Amounts payable within one year42/48€499k€314k▼
Current portion of amounts payable after more than one year42€83k€71k▼
Trade debts44€379k€234k▼
Suppliers440/4€379k€234k▼
Taxes, remuneration and social security45€36k€7k▼
Taxes450/3€36k€7k▼
Other amounts payable47/48€679€794▲
Income statement
Code20242025
Non-recurring operating income76A€6k-
Remuneration, social security and pensions62€80k€2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€596€594▼
Other operating charges640/8€11k€4k▼
Non-recurring operating charges66A€61k-
Gross operating margin9900€367k€171k▼
Operating profit (loss)9901€213k€164k▼
Financial income75/76B€16k€3▼
Recurring financial income75€16k€3▼
Financial charges65/66B€18k€12k▼
Recurring financial charges65€18k€12k▼
Profit (loss) for the period before taxes9903€211k€152k▼
Income taxes67/77€57k€39k▼
Profit (loss) for the period9904€155k€113k▼
Profit (loss) for the period to be appropriated9905€155k€113k▼
Appropriation of the result
Profit (loss) to be appropriated9906€499k€612k▲
Profit (loss) brought forward from the previous period14P€344k€499k▲
The notes to these accounts (11 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 | - | - | - | €6k | - | - |
| Remuneration, social security and pensions62 | €496k | €406k | €263k | €80k | €2k | ▼ 97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34k | €27k | €34k | €596 | €594 | ▼ 0.3% |
| Other operating charges640/8 | €45k | €10k | €12k | €11k | €4k | ▼ 68.4% |
| Non-recurring operating charges66A | €2k | €413 | - | €61k | - | - |
| Gross operating margin9900 | €635k | €871k | €365k | €367k | €171k | ▼ 53.4% |
| Operating profit (loss)9901 | €58k | €428k | €57k | €213k | €164k | ▼ 22.9% |
| Financial income75/76B | €14k | €13k | €5k | €16k | €3 | ▼ 100.0% |
| Recurring financial income75 | €14k | €13k | €5k | €16k | €3 | ▼ 100.0% |
| Financial charges65/66B | €31k | €38k | €30k | €18k | €12k | ▼ 33.7% |
| Recurring financial charges65 | €31k | €38k | €30k | €18k | €12k | ▼ 33.7% |
| Profit (loss) for the period before taxes9903 | €42k | €403k | €32k | €211k | €152k | ▼ 28.0% |
| Income taxes67/77 | €19k | €106k | €6k | €57k | €39k | ▼ 31.2% |
| Profit (loss) for the period9904 | €23k | €297k | €26k | €155k | €113k | ▼ 26.8% |
| Profit (loss) for the period to be appropriated9905 | €23k | €297k | €26k | €155k | €113k | ▼ 26.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.85M | €1.66M | €1.24M | €1.24M | €1.06M | ▼ 14.0% |
| Fixed assets21/28 | €89k | €91k | €57k | €594 | - | - |
| Tangible fixed assets22/27 | €66k | €91k | €57k | €594 | - | - |
| Plant, machinery and equipment23 | €4k | €3k | €2k | €594 | - | - |
| Furniture and vehicles24 | €62k | €45k | €30k | - | - | - |
| Other tangible fixed assets26 | - | €42k | €25k | - | - | - |
| Financial fixed assets28 | €23k | - | - | - | - | - |
| Current assets29/58 | €1.76M | €1.57M | €1.18M | €1.23M | €1.06M | ▼ 14.0% |
| Amounts receivable within one year40/41 | €1.67M | €1.40M | €954k | €679k | €801k | ▲ 17.8% |
| Trade receivables40 | €1.67M | €1.40M | €941k | €679k | €774k | ▲ 13.9% |
| Other amounts receivable41 | €463 | €463 | €13k | - | €27k | - |
| Cash at bank and in hand54/58 | €79k | €135k | €222k | €551k | €257k | ▼ 53.3% |
| Deferred charges and accrued income490/1 | €8k | €36k | €6k | €4k | €4k | ▲ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.85M | €1.66M | €1.24M | €1.24M | €1.06M | ▼ 14.0% |
| Equity10/15 | €157k | €342k | €368k | €523k | €636k | ▲ 21.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €121k | €318k | €344k | €499k | €612k | ▲ 22.7% |
| Investment grants15 | €15k | €3k | €3k | €3k | €3k | = |
| Amounts payable17/49 | €1.69M | €1.32M | €871k | €712k | €426k | ▼ 40.2% |
| Amounts payable after more than one year17 | €22k | €29k | €21k | €214k | €112k | ▼ 47.5% |
| Financial debts170/4 | €22k | €29k | €21k | €164k | €92k | ▼ 43.6% |
| Other amounts payable178/9 | - | - | - | €50k | €20k | ▼ 60.0% |
| Amounts payable within one year42/48 | €1.56M | €1.29M | €850k | €499k | €314k | ▼ 37.1% |
| Current portion of amounts payable after more than one year42 | - | €9k | €9k | €83k | €71k | ▼ 14.0% |
| Financial debts43 | €728k | €432k | €246k | - | - | - |
| Credit institutions430/8 | €728k | €432k | €246k | - | - | - |
| Trade debts44 | €726k | €563k | €482k | €379k | €234k | ▼ 38.1% |
| Suppliers440/4 | €726k | €563k | €482k | €379k | €234k | ▼ 38.1% |
| Taxes, remuneration and social security45 | €106k | €190k | €113k | €36k | €7k | ▼ 80.3% |
| Taxes450/3 | €60k | €173k | €113k | €36k | €7k | ▼ 80.3% |
| Remuneration and social security454/9 | €45k | €17k | - | - | - | - |
| Other amounts payable47/48 | - | €96k | €120 | €679 | €794 | ▲ 16.9% |
| Accrued charges and deferred income492/3 | €108k | €1k | €1k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23k | €297k | €26k | €155k | €113k | ▼ 26.8% |
| + Depreciation and write-downs630 | €34k | €27k | €34k | €596 | €594 | ▼ 0.3% |
| Operating cash flow (approximation) | €57k | €324k | €60k | €155k | €114k | ▼ 26.7% |
| Investment in fixed assets (approximation) | - | €-29k | €0 | €56k | - | - |
| Change in cash | - | €55k | €88k | €328k | €-294k | ▼ 189% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Equity above €500kEq €523k ▲42%
4 profitable years in a row build equity to €523k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
31-12
Financial
Highest result since 2018net €297k ▲1,183%
Operating result €428k, net result €297k, both a record.
31-12
Financial
Equity above €200kEq €342k ▲118%
2 profitable years in a row build equity to €342k.
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 52 days late
2021
31-12
Financial
Back to profitnet €23k
Net result €23k after one loss-making year.
31-12
Financial
Equity above €150kEq €157k ▲7.9%
Equity rises from €145k to €157k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
31-12
Financial
Weakest financial yearnet €-57k
Net result drops to €-57k, the lowest in the series; recovery starts the following year.
Show earlier events
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 83 days late
2019
31-12
Financial
Equity above €150kEq €192k ▲34.8%
2 profitable years in a row build equity to €192k.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
04-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 35 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Pieters-Woluwe · 1 establishment unit since 2005
Ground area
2,322 m²
Building footprint
832 m²
Volume, LiDAR
10,678 m³
2 parcels, Brussels · tallest building 18.8 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
CLEARSOURCE
since 20052.149.507.627
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0149/00M002 | Brussels | 2,170 m² | 1 · 758 m² | 18.8 m · 5 fl. |
| 21683D0031/00F000 | Brussels | 152 m² | 1 · 73 m² | 12.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 32,521 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
Founded16-09-2005
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
78200Temporary employment agencies and other provision of personnel
Scores and ratios are computed by Checked and are not a credit decision.