Equity
€9.4m ▲ 19.4%
CONXION has made a profit in every financial year since 2007.
CONXION
Lifetime
19 annual accounts with figures on one time axis, 28 filings since 1997peak €57.1m (2025)
€57.1m▲ 37.0%
peak €1.7m (2024)
€1.5m▼ 12.3%
peak €9.4m (2025)
€9.4m▲ 19.4%
€35.1m▲ 11.4%
peak 110 FTE (2025)
110 FTE▲ 14.6%
Board9 names since 2021
4 directorsCOEN Lieven Pieter and 3 others
Owners4 names in the annual accounts
25.07%DATATECH and 2 others
Documentsfilings and deeds
27-04-20263 days before the deadline
2025financial year
Turnover from €41.7m to €57.1mStaff from 96 FTE to 110 FTETransfer of 15,000 shares 27-11Merger: CONXION takes over SHARECOM 05-02Equity from €7.9m to €9.4mCash from €1.6m to €5.4m
Key points
from the 2025 annual accountsDebts
€35.1m 79% of the balance sheet
Financial debts 54%Suppliers 26%Taxes and wages 7%Other 13%
€20.4m of the debts are secured on the company's own assets. In 2022 that was €4.3m.
Securities
€6.9m
Mandates to pledge the business, new in 2025. 73.7% of equity · not in the 2024 accounts.
Investments
€5.2m 4.0 × depreciation
Green is investment, beige is depreciation.
At the same address
39 companies
Restructuring
3
3 restructurings since 2023. Latest: merger with Sharecom.
Checked score
94
Excellent
Financially stronger than 52% of medium-sized companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 802 companies (NACE 70, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.4%▲ +0.2 percentage points vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026highest value
05-2026: 0.2%▼ -0.3 percentage points vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.1%▼ -0.1 percentage points vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Equity €9.4m (21.1% of total assets)
lowers risk
Size: turnover €57.1m, 110 FTE, total assets €44.5m
Sector: Activities of head offices; management consultancy activities (NACE 70)
Liquidity: current ratio 1.13, cash €5.4m
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, medium-sized). It does better than 19% of them on solvency, 40% on liquidity, 63% on profitability and 85% on growth.
The bankruptcy probability was computed on 08-11-2026 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 30-09-2025.
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).
Comparable companies, two years later
In July 2024, 733 companies had the same profile as CONXION has now. Each dot stands for 2 companies, two years later.
97.4%
were still trading
1.4%
stopped another way
1.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CONXION itself: 0.1% within 12 months.
Test of the method
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 733 companies, not a prediction for CONXION. 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.
Credit verdict
Credit of up to €850,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.13 (1.07 in 2024), below the usual 1.5. Short-term debt is 34.3% and cash 12% of total assets. 78.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 3873 sector peers (2025).
NBB · sector comparisonPosition among 3873 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 days early
2024
23 days early
2023
12 days early
2022
6 days early
2021
17 days late
2020
5 days late
2019
30 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 7 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)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 24 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end09-11-2026 today30-04-2027 deadline
Board and ownership
BC
BV CAJOEVMA
Director, Jochen Maertens, since 15-05-2024
- Chris Debyser 50.13%annual accounts 30-09-2020
- VECTIS PRIVATE EQUITY III ARKIV 35%score 91equity €19.8m (2025) · 2025 annual accounts of VECTIS PRIVATE EQUITY III ARKIV
- B-Works 30%score 95equity €1.4m (2025) · annual accounts 30-09-2020
Shares in 11 companies, including AXcite and Cats and Dogs
Board & ownershipRecent changes
Transfer of 15,000 shares
Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0458974603
Merger: CONXION takes over SHARECOM
Appointment: CALLENS VANDELANOTTE (statutory auditor) · The company holds all the shares of SHARECOM · The company holds all the shares of WESTSYS · General meeting of 31-12-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CONXION Waregem | €57.1m | 5.8% | 21.1% | 110 |
| IPSOS Antwerp | €58.6m | 7.9% | 26.6% | 176.4 |
| Orise Beveren-Kruibeke-Zwijndrecht | €34.1m | 9.4% | 81.1% | 156.2 |
| WILLIS TOWERS WATSON CONSULTING Zaventem | €34.9m | 17.1% | 85.6% | 89.3 |
| ALISTAR BELGIË Ghent | €27.2m | 14.4% | 6.8% | 137.8 |
| ATTENTIA Berchem-Sainte-Agathe | €35.6m | 6.5% | 78.0% | 179.9 |
| The Boston Consulting Group Brussels | €115.4m | 0.7% | 17.2% | 189 |
Grey: the largest companies of the sector (head offices and management consultancy (NACE 70)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as CONXION: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €37m and €61m, founded between 1986 and 2000.
Official details
Source: KBO- Status
- Active since 08-10-1996Normal situation
- Registered office
- 41 active companies are registered at this address3 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Business and other management consultancyNACE 70200and 3 others
- Joint committee
- 149.04Metal trade · annual accounts 30-09-2025
- Establishment unit
- 2.078.706.4368791 Waregem, since 26-10-2000
- Financial year end
- 30 September
- Peppol
- Reachable since 13-02-2025
Annual accounts to 30-09-2025
- €44.5m▲ 13.0%
- Employeeson 30-09-2025
- 124▲ 21.6%
- Filing
- Filed on 27-04-2026, 3 days before the end of the filing period
Companies linked to CONXION
Shareholders
- QUESTIM17.23%
Subsidiaries and holdings
- GI.KO OFFICE SOLUTIONS100%
- INTEGREAT100%
- IT CENTRE OF EXCELLENCE100%
- LUBON100%
- SYCOM100%
- USERFULL100%
- WINGS SOFTWARE100%
- PROGRESSIVUM50%
Insights on CONXION
CONXION has existed since 1996. Turnover grew from €4.5m in 2008 to €57.1m in 2025 and staff from 9.9 to 110 full-time equivalents.
Turnover has grown every year since 2008.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CONXION
- What is the company number of CONXION?
- The company number of CONXION is 0458.974.603. The VAT number is the same number with BE in front: BE 0458.974.603.
- Where is CONXION based?
- The registered office is at Wagenaarstraat 33, 8791 Waregem.Company details
- What does CONXION do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of CONXION?
- CONXION is a private limited company (BV).
- When was CONXION founded?
- CONXION was founded on 08-10-1996.
- Is CONXION still active?
- Yes, CONXION is an active enterprise in the KBO register.
- How many employees does CONXION have?
- CONXION had an average of 110 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does CONXION fall under?
- In its 30-09-2025 annual accounts, CONXION states joint committee 149.04 (Metal trade).
- What is the turnover of CONXION?
- The turnover of CONXION was €57.1m in financial year 2025, according to the filed annual accounts.
- Is CONXION profitable?
- In financial year 2025, CONXION made a profit of €1.5m.
- Where can I find the annual accounts of CONXION?
- CONXION filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CONXION due?
- CONXION must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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