Equity
Equity fell by 44% in 9 years.
The dashed line is the sector median: 0.2% across 12,672 companies (NACE 82, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 82, micro). It does better than 47% of them on solvency, 47% on liquidity, 23% on profitability and 46% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 10,904 companies had the same profile as CONVERSION IMPACT has now. Each dot stands for 28 companies, two years later.
That fits the bankruptcy probability of CONVERSION IMPACT itself: 0.1% within 12 months.
The method was tested on the 497,447 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 10,904 companies, not a prediction for CONVERSION IMPACT. 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.
Liquidity is ample, with a current ratio of 1.82 (1.58 in 2024), above the usual 1.5. Short-term debt is 54.9% and cash 25.6% of total assets. However, 54.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 31 days before the deadline. In the sector (NACE 82), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Shares in 1 company, BOBEX.COM
Board & ownership| Company | ||||
|---|---|---|---|---|
| CONVERSION IMPACT Molenbeek-Saint-Jean | €94,811 | €1,562 | 45.1% | - |
| PHEULOUC BELGIQUE Watermael-Boitsfort | €77,152 | €1,088 | 76.3% | - |
| PlasticisersPlus Etterbeek | €88,262 | -€64,538 | 34.4% | - |
| MOMOLOGUE Woluwe-Saint-Lambert | €88,785 | -€780 | 76.3% | - |
| DJALOUNADIM'S BLUE Rixensart | €88,169 | -€19,097 | 96.5% | - |
| Q4 Antwerp | €95,551 | -€28,710 | -103.6% | - |
| Unrandom Wortegem-Petegem | €105,033 | -€11,599 | 69.8% | - |
These companies have the same main activity as CONVERSION IMPACT: other business support services (NACE 82990). They are comparable in size and age: total assets between €77,200 and €105,000, founded between 2013 and 2015.
CONVERSION IMPACT files the micro format. That format states no turnover. The gross margin fell from €20,636 in 2015 to €1,562 in 2025.
BOBEX.COM holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €9,100. Estimated: probably between €4,800 and €18,000.
Higher than 46% of 9,695 companies in 2025.
Higher than 49% of 9,313 companies in 2025.
Higher than 27% of 9,437 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
94,811 | 112,820 | 122,851 | 131,073 | 127,427 | 139,832 | 139,016 | 150,164 | 169,300 | 203,676 | 76,266 | |
21/28 |
55 | 55 | 55 | 55 | 55 | - | - | - | 232 | 753 | 724 | |
22/27 |
- | - | - | - | - | - | - | - | 232 | 753 | 724 | |
24 |
- | - | - | - | - | - | - | - | 232 | 753 | 724 | |
28 |
55 | 55 | 55 | 55 | 55 | - | - | - | - | - | - | |
29/58 |
94,756 | 112,765 | 122,796 | 131,018 | 127,372 | 139,832 | 139,016 | 150,164 | 169,068 | 202,923 | 75,542 | |
40/41 |
70,449 | 60,789 | 80,565 | 57,480 | 82,945 | 78,969 | 112,146 | 114,156 | 76,366 | 136,859 | 54,223 | |
40 |
70,339 | 50,074 | 70,385 | 43,582 | 81,485 | 77,469 | 109,199 | 106,429 | 61,387 | 136,859 | 54,223 | |
41 |
111 | 10,715 | 10,180 | 13,898 | 1,460 | 1,500 | 2,947 | 7,727 | 14,978 | - | - | |
54/58 |
24,307 | 51,934 | 42,230 | 73,538 | 44,427 | 60,863 | 26,871 | 36,008 | 92,330 | 65,884 | 21,143 | |
490/1 |
0 | 43 | - | - | - | - | - | - | 373 | 180 | 176 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
94,811 | 112,820 | 122,851 | 131,073 | 127,427 | 139,832 | 139,016 | 150,164 | 169,300 | 203,676 | 76,266 | |
10/15 |
42,760 | 41,561 | 66,117 | 62,998 | 54,413 | 40,800 | 35,991 | 35,020 | 65,514 | 75,738 | 20,080 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 74 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 74 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
14 |
22,300 | 21,101 | 45,657 | 42,538 | 33,953 | 20,340 | 15,531 | 14,560 | 45,054 | 55,278 | 1,406 | |
17/49 |
52,051 | 71,260 | 56,734 | 68,075 | 73,014 | 99,032 | 103,025 | 115,144 | 103,786 | 127,937 | 56,186 | |
17 |
- | - | - | - | - | - | - | - | - | - | 15,000 | |
170/4 |
- | - | - | - | - | - | - | - | - | - | 15,000 | |
42/48 |
52,051 | 71,260 | 56,734 | 68,075 | 73,014 | 99,032 | 103,025 | 115,144 | 103,786 | 127,937 | 41,186 | |
43 |
- | - | - | - | - | - | - | - | 5,625 | - | - | |
430/8 |
- | - | - | - | - | - | - | - | 5,625 | - | - | |
44 |
35,550 | 71,141 | 56,734 | 41,421 | 56,862 | 96,711 | 101,452 | 113,207 | 70,098 | 67,893 | 25,905 | |
440/4 |
35,550 | 71,141 | 56,734 | 41,421 | 56,862 | 96,711 | 101,452 | 113,207 | 70,098 | 67,893 | 25,905 | |
45 |
16,501 | - | - | - | 12,457 | - | 1,502 | 1,937 | 26,949 | 60,024 | 14,763 | |
450/3 |
16,501 | - | - | - | 11,872 | - | 1,502 | 1,937 | 26,949 | 43,328 | 10,209 | |
454/9 |
- | - | - | - | 585 | - | - | - | - | 16,696 | 4,554 | |
47/48 |
0 | 118 | - | 26,655 | 3,695 | 2,321 | 71 | - | 1,114 | 20 | 519 | |
| Income statement | ||||||||||||
9900 |
1,562 | -24,202 | 3,322 | 8,980 | 23,601 | 2,795 | 15,230 | -44,530 | 28,773 | 141,756 | 20,636 | |
62 |
- | - | - | - | 2,117 | - | - | -122 | 43,708 | 55,705 | 15,309 | |
630 |
- | - | - | - | - | - | - | 232 | 386 | 666 | 579 | |
631/4 |
- | - | - | - | 7,763 | - | 14,032 | - | - | - | - | |
640/8 |
400 | 387 | 384 | 348 | 348 | 348 | 348 | 348 | 648 | 348 | 784 | |
9901 |
1,162 | -24,590 | 2,938 | 8,632 | 13,374 | 2,448 | 850 | -44,986 | -15,969 | 85,038 | 3,964 | |
75/76B |
40 | 34 | 286 | - | 239 | 2,362 | 26 | 14,635 | 8,311 | 273 | 1 | |
75 |
40 | 34 | 286 | - | 239 | 2,362 | 26 | 14,635 | 8,311 | 273 | 1 | |
65/66B |
3 | 1 | 105 | 48 | - | 0 | 88 | 142 | 2,321 | 2,704 | 1,482 | |
65 |
3 | 1 | 105 | 48 | - | 0 | 88 | 142 | 2,186 | 2,704 | 1,482 | |
66B |
- | - | - | - | - | - | - | - | 135 | - | - | |
9903 |
1,199 | -24,556 | 3,119 | 8,585 | 13,613 | 4,809 | 789 | -30,494 | -9,979 | 82,608 | 2,483 | |
67/77 |
- | - | - | - | - | - | -182 | - | 245 | 26,949 | 1,003 | |
9904 |
1,199 | -24,556 | 3,119 | 8,585 | 13,613 | 4,809 | 971 | -30,494 | -10,224 | 55,659 | 1,480 | |
9905 |
1,199 | -24,556 | 3,119 | 8,585 | 13,613 | 4,809 | 971 | -30,494 | -10,224 | 55,659 | 1,480 | |
| Appropriation of the result | ||||||||||||
9906 |
22,300 | 21,101 | 45,657 | 42,538 | 33,953 | 20,340 | 15,531 | 14,560 | 45,054 | 57,064 | 1,480 | |
14P |
21,101 | 45,657 | 42,538 | 33,953 | 20,340 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,786 | 74 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,786 | 74 | |
| Social balance sheet | ||||||||||||
9087 |
- | - | - | - | - | - | - | - | 0.9 | 1.2 | - | |
Hours worked1013 |
- | - | - | - | - | - | - | - | 1,710 | 2,064 | - | |
| Document | ||||||||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-08-2026.
2025 annual accounts filed 7 days after the deadline. Filed on 7 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00397078.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-08-2026 | 2026-00397078 | |
| 31-12-2024 | micro format | 11-07-2025 | 2025-00272887 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00168934 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00151162 | |
| 31-12-2021 | micro format | 13-06-2022 | 2022-20057843 | |
| 31-12-2020 | micro format | 03-06-2021 | 2021-17000001 | |
| 31-12-2019 | micro format | 04-07-2020 | 2020-26400167 | |
| 31-12-2018 | micro format | 29-07-2019 | 2019-41100332 | |
| 31-12-2017 | micro format | 05-07-2018 | 2018-30100162 | |
| 31-12-2016 | micro format | 07-06-2017 | 2017-15600182 | |
| 31-12-2015 | abbreviated format | 01-07-2016 | 2016-26700333 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | - | - | -44,755 | -15,583 | 85,704 | 4,543 | ||
| - | - | - | - | - | - | - | -30,262 | -9,838 | 56,324 | 2,059 | ||
| 0 | - | - | - | 55 | - | - | 0 | -135 | 695 | 1,303 | ||
| -27,627 | 9,704 | -31,307 | 29,110 | -16,436 | 33,992 | -9,138 | -56,322 | 26,446 | 44,741 | - | ||
| 42,705 | 41,506 | 66,062 | 62,943 | 54,358 | 40,800 | 35,991 | 35,020 | 65,282 | 74,985 | 34,356 | ||
| 45.1% | 36.8% | 53.8% | 48.1% | 42.7% | 29.2% | 25.9% | 23.3% | 38.7% | 37.2% | 26.3% | ||
| 1.82 | 1.58 | 2.16 | 1.92 | 1.74 | 1.41 | 1.35 | 1.30 | 1.63 | 1.59 | 1.83 | ||
| 1.22 | 1.71 | 0.86 | 1.08 | 1.34 | 2.43 | 2.86 | 3.29 | 1.58 | 1.69 | 2.80 | ||
| 2.8% | -59.1% | 4.7% | 13.6% | 25.0% | 11.8% | 2.7% | -87.1% | -15.6% | 73.5% | 7.4% | ||
| 1.3% | -21.8% | 2.5% | 6.5% | 10.7% | 3.4% | 0.7% | -20.3% | -6.0% | 27.3% | 1.9% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Financial fixed assets | €0 | - | - | - | €55 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €1,162, after a loss of €24,590 in 2024.
Debt's share of the balance-sheet total falls from 63.2% to 54.9%. Equity is higher and debt is lower.
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 2023 accounts. Every holding stands with its own latest accounts.
| Artsen Zonder Grenzen
establishment since 01-10-2019 · founded in 1980 |
666 FTE (2025) 0421.446.093 |
| BOBEX.COM
registered office since 20-01-2000 · founded in 1999 |
60 FTE (2025) 0468.503.070 |
| KOPILKA
registered office since 22-03-1996 · founded in 1996 |
total assets €4.1m (2025) 0457.525.343 |
| Défense des Enfants-International-Belgique
registered office since 10-09-1991 · founded in 1991 · accounts filed late |
14 FTE (2024) 0447.397.058 |
| Studio Jan Vermeulen - Architectuur en Stedenbouw
registered office since 23-05-2014 · founded in 2014 |
total assets €275,099 (2025) 0552.906.037 |
| DATA BRAIN
establishment since 05-11-2019 · founded in 2019 |
total assets €267,082 (2025) 0737.418.843 |
| GROWTHMENTORPRO
establishment since 06-10-2023 · founded in 2023 |
total assets €49,468 (2023) 1000.886.778 |
| Art & Design AD
registered office since 11-07-2017 · founded in 2017 |
turnover €45,647 (2025) 0678.474.517 |
| Jeunesse et Droit
establishment since 01-01-2015 |
founded in 1981 0422.676.906 |
| Association des copropriétaires de la Résidence "TRIBEKA 2", sis à Molenbeek-Saint-Jean, Quai des Charbonnages 62.
registered office since 07-08-2013 |
founded in 2013 0537.330.906 |
CONVERSION IMPACT or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
The network starts from the directors of CONVERSION IMPACT. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Koolmijnenkaai 62 registered office 1080 Molenbeek-Saint-Jean | 21-10-2014 | 2.235.651.149 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21012A0228/00W008 | 752 m² | 1 · 590 m² | 24.3 m · 7 |
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