Concept M · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Concept M is 1.9% (moderate). The 2024 annual accounts show equity of €58k and a net result of €14k. Equity is growing by ~18.3% per year across the filed fiscal years. Its solvency ranks better than 81% of 6722 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

3 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 81% of 6722 peers (2024). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 31 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-07-2025, 21 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

How we compute the deadline

The year end is derived from 4 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	10-07-2025	21 d early	2025-00266784
31-12-2023	31-07-2024	04-07-2024	27 d early	2024-00215947
31-12-2022	31-07-2023	06-07-2023	25 d early	2023-00215601
31-12-2021	31-07-2022	07-07-2022	24 d early	2022-20164936

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.9% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€14k+928.9%

Working capital€44k+58.0%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 10-07-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~39% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 47, Retail trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	57.8%	20.4%	better than 81% of 6722 sector peers
Net result	€14k	€4k	better than 68% of 6703 sector peers
Equity	€58k	€16k	better than 76% of 6737 sector peers
Gross operating margin	€33k	€24k	better than 56% of 6682 sector peers
Total assets	€101k	€94k	better than 52% of 6726 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P81

Improving position over 2021-2024 · n=2693-6722

Net result P68

Weakening position over 2021-2024 · n=2684-6703

Equity P76

Stable position over 2021-2024 · n=2697-6737

Gross operating margin P56

Weakening position over 2021-2024 · n=2670-6682

Describes the position versus peers, not a forecast.

EBITDA

€30k

+125.0% 21-24

Net profit

€14k

+928.9% 21-24

Cash flow

€20k

+172.2% 21-24

Total assets

€101k

+31.1% 21-24

Equity

€58k

+32.7% 21-24

Working capital

€44k

+58.0% 21-24

Income taxes

€7k

+79.4% 21-24

Debt

€43k

+29.0% 21-24

Show 9 other metrics

Debt ≤ 1y

€37k

+49.1% 21-24

Debt > 1y

€6k

-29.8% 21-24

Current ratio

2.20

+3.2% 21-24

Quick ratio

1.60

+44.7% 21-24

Solvency

57.8%

+1.2% 21-24

Debt / equity

0.73

-2.8% 21-24

ROE

24.6%

+675.4% 21-24

ROA

14.2%

+684.9% 21-24

Interest coverage

11.58

+65.5% 21-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€30k
Net profit	€14k
Cash flow	€20k
Staff costs	-
Income taxes	€7k
Dividends	-
Total assets	€101k
Equity	€58k
Debt	€43k
of which ≤ 1y	€37k
of which > 1y	€6k
Working capital	€44k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	2.20
Quick ratio	1.60
Working capital ratio	43.5%
Solvency	57.8%
Debt / equity	0.73
Long-term debt ratio	0.10
Interest coverage	11.58
Gross margin	-
Net margin	-
ROA	14.2%
ROE	24.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €20k · 20.1% Current assets €81k · 79.9%

Equity & liabilities

Equity €58k · 57.8% Debt €43k · 42.2%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€101k
Fixed assets	21/28	€20k
Intangible fixed assets	21	€1
Tangible fixed assets	22/27	€20k
Current assets	29/58	€81k
Stocks & contracts in progress	3	€22k
Amounts receivable within one year	40/41	€7k
Cash & bank	54/58	€50k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€101k
Equity	10/15	€58k
Contributions / capital	10/11	€5k
Reserves	13	€53k
Amounts payable	17/49	€43k
Amounts payable after one year	17	€6k
Amounts payable within one year	42/48	€37k
Trade debts payable within one year	44	€10k
Income statement
Gross operating margin	9900	€33k
Operating result	9901	€24k
Financial income	75	€6
Financial charges	65	€3k
Result before taxes	9903	€22k
Income taxes	67/77	€7k
Net result for the period	9904	€14k
Result to be appropriated	9905	€14k

This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Kleinestraat (WAN) 1F9772 Kruisem

Establishment units

1 location

Pretty Things

Nederstraat 36, 9700 OudenaardeHandelsbemiddeling in de groothandel in meubelen, huishoudelijke artikelen en ijzerwaren

since 20202.311.346.385

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area1,060 m²

Buildings2

Building footprint182 m²

Volume (LiDAR)529 m³

Tallest building11.3 m · ±3 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
45053A0610/00B000	Flanders	942 m²	1 · 117 m²	0.1 m
45035B0237/00E000 ProtectedTownscape or village viewStadskern OudenaardeSource ↗	Flanders	118 m²	1 · 66 m²	11.3 m · 3 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.