ClientEarth
ActiveSummary
The annual accounts of ClientEarth for fiscal year 2025 show a net loss of 50% of the equity at the start of that year. The 2025 annual accounts show equity of €216,741 and a net result of -€220,143. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 521 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency41▼-17
Growth52=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.89 against 1.06 in 2024; short-term debt: 84.3% and cash: 73.8% of total assets), and 84.3% of the assets are financed with debt.
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Signals
Seven 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 94
Relative position
BE, all sectors
reference
Activities of membership organisations (NACE 94)
about 92% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
202122232425
2020 to 2025 · latest year -€220,143
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 521 sector peers (2025).
NBB · sector comparisonPosition among 521 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-09-2026, 37 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 · 7 filingsDeviation from the deadline
2025
37 d late
2024
388 d late
2023
9 d early
2022
7 d early
2021
47 d early
2020
23 d early
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 58 days after the deadline; the sector median for financial year 2024 is 29 days before the deadline, and 25% of the sector filed late.
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. Usually files around 24 July (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, full schema
In the rankings
#6 employer in Elsene, Other services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€220,143▲ 74.5%
2024 · -€862,869
Working capital
-€130,062
2024 · €54,015
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 94, Activities of membership organisations, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€38,506€1.1m▲ 2,836%€133,543▼ 88.2%-€862,523-€219,502▲ 74.6%
Net result€38,510within the sector's middle half▲ 2,070%€1.1mabove the sector's middle half▲ 2,828%€132,026above the sector's middle half▼ 88.3%-€862,869below the sector's middle half-€220,143below the sector's middle half▲ 74.5%
Equity€40,285below the sector's middle half▲ 2,170%€1.2mwithin the sector's middle half▲ 2,799%€1.3mwithin the sector's middle half▲ 11.3%€436,885within the sector's middle half▼ 66.4%€216,741below the sector's middle half▼ 50.4%
Total assets€808,474within the sector's middle half▲ 20.0%€2.3mwithin the sector's middle half▲ 179%€2.5mwithin the sector's middle half▲ 12.8%€1.3mwithin the sector's middle half▼ 48.2%€1.4mwithin the sector's middle half▲ 4.7%
Debt€768,188▲ 14.3%€1.1m▲ 41.8%€1.2m▲ 14.5%€882,943▼ 29.2%€1.2m▲ 32.0%
Working capital-€83,094below the sector's middle half▼ 459%€1.0mwithin the sector's middle half€886,978within the sector's middle half▼ 14.1%€54,015below the sector's middle half▼ 93.9%-€130,062below the sector's middle half
Solvency5.0%below the sector's middle half▲ 4.7pp51.7%within the sector's middle half▲ 46.7pp51.0%within the sector's middle half▼ 0.7pp33.1%within the sector's middle half▼ 17.9pp15.7%below the sector's middle half▼ 17.4pp
Current ratio0.89below the sector's middle half▼ 0.091.95below the sector's middle half▲ 1.061.71below the sector's middle half▼ 0.241.06below the sector's middle half▼ 0.650.89below the sector's middle half▼ 0.17
Return on assets (ROA)4.8%within the sector's middle half▲ 4.5pp49.9%above the sector's middle half▲ 45.2pp5.2%within the sector's middle half▼ 44.8pp-65.4%below the sector's middle half▼ 70.6pp-15.9%below the sector's middle half▲ 49.4pp
Staff (FTE)46.5above the sector's middle half▲ 29.2%52above the sector's middle half▲ 11.8%59.5above the sector's middle half▲ 14.4%56above the sector's middle half▼ 5.9%54.3above the sector's middle half▼ 3.0%
above
within
below
the middle half (P25 to P75) of NACE 94, Activities of membership organisations, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €219,502 in 2025 against €862,523 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€346,803 ▼ 9.4%
Current assets
€1.0m ▲ 10.5%
Equity and liabilities €1.4m
Equity
€216,741 ▼ 50.4%
Debt
€1.2m ▲ 32.0%
Debt's share of the balance-sheet total rises from 66.9% to 84.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€159,744▲
2024 · -€802,812
Cash flow
-€160,386▲
2024 · -€803,157
Debt to equity
5.38▲
2024 · 2.02
ROE
-101.6%▲
2024 · -197.5%
Interest coverage
-249.03▲
2024 · -947.19
Debt ≤ 1 year
€1.2m▲
2024 · €882,943
Staff costs
€5.2m▼
2024 · €5.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,265 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 86% are still going.
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
- without size
5.8%
went bankrupt
6.4%
stopped otherwise
86%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,265 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €3.5m | €4.4m | €5.4m | €5.3m | €5.2m | ▼ 1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,046 | €14,165 | €46,719 | €59,712 | €59,758 | ▲ 0.1% |
| Other operating charges640/8 | €58,311 | €103,176 | €153,236 | €95,247 | €94,017 | ▼ 1.3% |
| Gross operating margin9900 | €3.6m | €5.6m | €5.7m | €4.6m | €5.2m | ▲ 12.3% |
| Operating profit (loss)9901 | €38,506 | €1.1m | €133,543 | -€862,523 | -€219,502 | ▲ 74.6% |
| Financial income75/76B | €639 | - | - | €502 | - | - |
| Recurring financial income75 | €639 | - | - | €502 | - | - |
| Financial charges65/66B | €634 | €3,200 | €1,517 | €848 | €641 | ▼ 24.3% |
| Recurring financial charges65 | €634 | €3,200 | €1,517 | €848 | €641 | ▼ 24.3% |
| Profit (loss) for the period before taxes9903 | €38,510 | €1.1m | €132,026 | -€862,869 | -€220,143 | ▲ 74.5% |
| Profit (loss) for the period9904 | €38,510 | €1.1m | €132,026 | -€862,869 | -€220,143 | ▲ 74.5% |
| Profit (loss) for the period to be appropriated9905 | €38,510 | €1.1m | €132,026 | -€862,869 | -€220,143 | ▲ 74.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €808,474 | €2.3m | €2.5m | €1.3m | €1.4m | ▲ 4.7% |
| Fixed assets21/28 | €124,579 | €135,096 | €412,775 | €382,869 | €346,803 | ▼ 9.4% |
| Tangible fixed assets22/27 | €75,813 | €82,495 | €360,174 | €330,268 | €294,202 | ▼ 10.9% |
| Furniture and vehicles24 | €59,381 | €48,336 | €63,318 | €47,666 | €43,920 | ▼ 7.9% |
| Other tangible fixed assets26 | €16,432 | €34,158 | €296,856 | €282,603 | €250,282 | ▼ 11.4% |
| Financial fixed assets28 | €48,766 | €52,601 | €52,601 | €52,601 | €52,601 | = |
| Current assets29/58 | €683,894 | €2.1m | €2.1m | €936,958 | €1.0m | ▲ 10.5% |
| Amounts receivable within one year40/41 | €243,909 | €93,545 | €1.3m | - | - | - |
| Trade receivables40 | €164,000 | €93,545 | €1.3m | - | - | - |
| Other amounts receivable41 | €79,909 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €340,819 | €2.0m | €851,450 | €891,667 | €1.0m | ▲ 14.3% |
| Deferred charges and accrued income490/1 | €99,166 | €28,119 | €10,811 | €45,292 | €15,699 | ▼ 65.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €808,474 | €2.3m | €2.5m | €1.3m | €1.4m | ▲ 4.7% |
| Equity10/15 | €40,285 | €1.2m | €1.3m | €436,885 | €216,741 | ▼ 50.4% |
| Profit (loss) carried forward14 | €40,285 | €1.2m | €1.3m | €436,885 | €216,741 | ▼ 50.4% |
| Amounts payable17/49 | €768,188 | €1.1m | €1.2m | €882,943 | €1.2m | ▲ 32.0% |
| Amounts payable after more than one year17 | €1,200 | - | - | - | - | - |
| Other amounts payable178/9 | €1,200 | - | - | - | - | - |
| Amounts payable within one year42/48 | €766,988 | €1.1m | €1.2m | €882,943 | €1.2m | ▲ 32.0% |
| Trade debts44 | €341,102 | €546,638 | €597,905 | €272,412 | €384,844 | ▲ 41.3% |
| Suppliers440/4 | €341,102 | €546,638 | €597,905 | €272,412 | €384,844 | ▲ 41.3% |
| Taxes, remuneration and social security45 | €374,773 | €491,851 | €603,822 | €565,081 | €734,756 | ▲ 30.0% |
| Taxes450/3 | €11,469 | €22,464 | €18,238 | €20,228 | €26,386 | ▲ 30.4% |
| Remuneration and social security454/9 | €363,304 | €469,386 | €585,584 | €544,853 | €708,370 | ▲ 30.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,510 | €1.1m | €132,026 | -€862,869 | -€220,143 | ▲ 74.5% |
| + Depreciation and write-downs630 | €12,046 | €14,165 | €46,719 | €59,712 | €59,758 | ▲ 0.1% |
| Operating cash flow (approximation) | €50,556 | €1.1m | €178,745 | -€803,157 | -€160,386 | ▲ 80.0% |
| Investment in fixed assets (approximation) | - | -€24,681 | -€324,398 | -€29,806 | -€23,692 | ▲ 20.5% |
| Change in cash | - | €1.7m | -€1.1m | €40,217 | €127,623 | ▲ 217% |
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
06-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 37 days late
25-08
State Gazette act
Reappointments: Anaïs BERTHIER, Maria KLEIS-WALRAVENS and 2 othersAppointment: Anaïs BERTHIER (président du conseil d’administration)12 facts ▸
State Gazette act
Reappointments: Anaïs BERTHIER, Maria KLEIS-WALRAVENS and 2 others
Appointment: Anaïs BERTHIER (président du conseil d’administration)12 facts ▸
- General meeting, 16-06-2026
- Director reappointment, Anaïs BERTHIER (director)
- Director reappointment, Maria KLEIS-WALRAVENS (director)
- Director reappointment, Adam WEISS (director)
- Director reappointment, Peter GIJBELS (director)
- Board composition, Anaïs BERTHIER (membre du conseil d’administration)
- Board composition, Maria KLEIS-WALRAVENS (membre du conseil d’administration)
- Board composition, Adam WEISS (membre du conseil d’administration)
- Board composition, Peter GIJBELS (membre du conseil d’administration)
- Board meeting, 16-06-2026
- Director appointment, Anaïs BERTHIER (président du conseil d’administration)
- Other statement, filing agent, mandataire
23-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 388 days late
2024
31-12
Financial
Weakest financial yearnet -€862,869
Net result drops to -€862,869, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2020net €1.1m ▲2,828%
Operating result €1.1m, net result €1.1m, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.95
Current ratio from 0.89 to 1.95.
31-12
Financial
Equity above €1mEq €1.2m ▲2,799%
3 profitable years in a row build equity to €1.2m.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 70 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26355450). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Anaïs BERTHIER
CurrentPrésident du conseil d’administration · since 16-06-2026 · Director · since 16-06-2026
Adam WEISS
CurrentDirector · since 16-06-2026
Maria KLEIS-WALRAVENS
CurrentDirector · since 16-06-2026
Peter GIJBELS
CurrentDirector · since 16-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
9 of this company's 10 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2019
Ground area
1,034 m²
Parcel 21442A0009/00X007, Brussels. Linked by address, not a title deed.
23
companies at this address
See who is registered here
1 establishment unit
ClientEarth
since 20192.287.098.167
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21442A0009/00X007 | Brussels | 1,034 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.
Mandate history
4 people since 2026, 4 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Adam WEISS |
|
| Anaïs BERTHIER |
|
| Maria KLEIS-WALRAVENS |
|
| Peter GIJBELS |
|
Structure & network
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Public money · subsidies and aid
European research
1 project · 215,405 EUR EU contributionProgrammes
Projects
PROSumers for the Energy Union: mainstreaming active participation of citizens in the energy transition
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Of 487 companies in sector 94994 we hold annual accounts for 139. 119 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formInt'l non-profit association
Founded29-11-2018
Fiscal year end31-12
Activities, NACEBEL 2025
94994Activities of membership organisations
E-invoicing
Reachable via Peppol
Peppol ID
0208:0714925038
Also
9925:BE0714925038
Registered
20-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.