Equity
CREATE has made a profit in every financial year since 2020.
CREATE has made a profit in every financial year since 2020.
The accounts state no turnover.
Debts rose by €576,066 in 2024.
In 2024, 8 people joined and 6 left.
2025 accounts not filed: deadline was 31-07-2026.
Higher net result than 81% of companies in advertising and market research. Sector median €26,442 · 1,394 companies.
The dashed line is the sector median: 0.2% across 11,230 companies (NACE 73, micro).
About 4 in 100 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 73, micro). It does better than 31% of them on solvency, 22% on liquidity, 52% on profitability and 63% 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 31-12-2024.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% 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, 5,053 companies had the same profile as CREATE has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CREATE itself is higher: 3.5% within 12 months. It rests on far more data about CREATE than the profile alone.
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 5,053 companies, not a prediction for CREATE. 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 tight, with a current ratio of 1.36 (1.48 in 2023), below the usual 1.5. Short-term debt is 67.8% and cash 19.2% of total assets. 72.9% 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 5 accounts on average 27 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CREATE Lokeren | €1.9m | €457,131 | 27.1% | 2.7 |
| THE CONTENT COMPANY Brussels | €1.8m | €412,142 | 74.2% | 3 |
| TOTAL M Solutions Herenthout | €1.8m | €455,460 | 13.9% | 2.5 |
| AKILEA Waterloo | €1.6m | €421,835 | 12.9% | 4 |
| Ritme Forest | €1.7m | €524,544 | 1.2% | 2.3 |
| E.M. GROUP Ath | €2.8m | €651,070 | 63.7% | 2.9 |
| Mach Media Ghent | €2.2m | €284,218 | 72.5% | 2 |
These companies have the same main activity as CREATE: public relations and communication consultancy (NACE 73300). They are comparable in size and age: total assets between €1.6m and €2.8m, founded between 2008 and 2014.
CREATE files the abbreviated format. That format states no turnover. The gross margin rose from €15,789 in 2020 to €457,131 in 2024.
CIRCLE holds 79.94% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 9 November 2026.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €910,000. Estimated: probably between €620,000 and €1.2m.
Higher than 35% of 1,395 companies in 2024.
Higher than 43% of 1,360 companies in 2024.
Higher than 64% of 1,378 companies in 2024.
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2024, 8 people joined and 6 left.
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
1.9m | 1.3m | 848,977 | 378,104 | 66,907 | |
21/28 |
157,206 | 155,981 | 102,035 | 32,416 | 1,172 | |
21 |
3,851 | 6,254 | 8,657 | 8,095 | - | |
22/27 |
138,870 | 142,607 | 89,933 | 20,875 | 922 | |
23 |
30,646 | 20,952 | 5,301 | 6,857 | - | |
24 |
108,224 | 121,655 | 84,632 | 14,018 | 922 | |
28 |
14,485 | 7,121 | 3,446 | 3,446 | 250 | |
29/58 |
1.8m | 1.1m | 746,942 | 345,688 | 65,735 | |
29 |
- | 0 | 15,000 | 15,000 | 15,000 | |
291 |
- | 0 | 15,000 | 15,000 | 15,000 | |
40/41 |
1.4m | 989,469 | 455,874 | 129,428 | 30,194 | |
40 |
1.1m | 781,168 | 359,580 | 93,272 | 29,911 | |
41 |
342,664 | 208,301 | 96,294 | 36,155 | 282 | |
54/58 |
371,277 | 159,783 | 276,068 | 201,260 | 19,396 | |
490/1 |
- | - | - | 0 | 1,145 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
1.9m | 1.3m | 848,977 | 378,104 | 66,907 | |
10/15 |
524,457 | 467,528 | 335,456 | 189,513 | 25,269 | |
10/11 |
100,500 | 100,500 | 100,500 | 100,500 | 500 | |
14 |
423,957 | 367,028 | 234,956 | 89,013 | 24,769 | |
17/49 |
1.4m | 837,706 | 513,521 | 188,590 | 41,638 | |
17 |
100,294 | 63,415 | 54,563 | - | - | |
170/4 |
100,294 | 63,415 | 54,563 | - | - | |
42/48 |
1.3m | 774,291 | 458,958 | 188,590 | 41,638 | |
42 |
104,840 | 84,809 | 91,073 | 22,917 | - | |
43 |
631,651 | 542,603 | 208,612 | 52,481 | 15,033 | |
430/8 |
631,651 | 542,603 | 208,612 | 52,481 | 15,033 | |
44 |
460,354 | 131,945 | 155,186 | 99,631 | 12,836 | |
440/4 |
460,354 | 131,945 | 155,186 | 99,631 | 12,836 | |
45 |
16,633 | 14,590 | 3,743 | 13,330 | 12,060 | |
450/3 |
1,323 | 7,155 | 1,649 | 13,330 | 12,060 | |
454/9 |
15,310 | 7,435 | 2,095 | - | - | |
47/48 |
100,000 | 345 | 345 | 232 | 1,709 | |
| Income statement | ||||||
9900 |
457,131 | 304,341 | 240,974 | 103,548 | 15,789 | |
62 |
113,634 | 43,586 | 4,547 | - | - | |
630 |
48,991 | 37,055 | 16,732 | 3,687 | 307 | |
640/8 |
8,912 | 11,391 | 6,059 | 5,282 | 2,027 | |
9901 |
285,595 | 212,310 | 213,635 | 94,580 | 13,455 | |
75/76B |
838 | 4,135 | 50 | 0 | 525 | |
75 |
838 | 4,135 | 50 | 0 | 525 | |
65/66B |
49,487 | 29,471 | 10,946 | 3,667 | 2,969 | |
65 |
49,487 | 29,471 | 10,946 | 3,667 | 2,969 | |
9903 |
236,946 | 186,973 | 202,739 | 90,912 | 11,011 | |
67/77 |
80,017 | 54,902 | 56,796 | 26,668 | 3,649 | |
9904 |
156,929 | 132,072 | 145,943 | 64,244 | 7,362 | |
9905 |
156,929 | 132,072 | 145,943 | 64,244 | 7,362 | |
| Appropriation of the result | ||||||
9906 |
523,957 | 367,028 | 234,956 | 89,013 | 24,769 | |
14P |
367,028 | 234,956 | 89,013 | 24,769 | - | |
694/7 |
100,000 | - | - | - | - | |
695 |
100,000 | - | - | - | - | |
| Social balance sheet | ||||||
9087 |
2.7 | 1.1 | - | - | - | |
Hours worked1013 |
4,695 | 1,911 | - | - | - | |
| Document | ||||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 29-08-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00441334 | |
| 31-12-2023 | abbreviated format | 28-08-2024 | 2024-00386261 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00398753 | |
| 31-12-2021 | abbreviated format | 19-08-2022 | 2022-20297706 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-63900425 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| 334,586 | 249,365 | 230,367 | 98,267 | 13,762 | ||
| 205,920 | 169,127 | 162,675 | 67,931 | 7,669 | ||
| 50,215 | 91,001 | 86,351 | 34,931 | - | ||
| 211,494 | -116,284 | 74,808 | 181,864 | - | ||
| 467,545 | 374,962 | 287,984 | 157,097 | 24,097 | ||
| 27.1% | 35.8% | 39.5% | 50.1% | 37.8% | ||
| 1.36 | 1.48 | 1.63 | 1.83 | 1.58 | ||
| 2.70 | 1.79 | 1.53 | 1.00 | 1.65 | ||
| 29.9% | 28.2% | 43.5% | 33.9% | 29.1% | ||
| 8.1% | 10.1% | 17.2% | 17.0% | 11.0% | ||
| 6.76 | 8.46 | 21.05 | 26.79 | - |
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 | 31-12-2024 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 3 | 1 |
| full-time | 3 | 1 |
| part-time | 0 | 0 |
| in full-time equivalents | 3 | 1 |
| 2.7 | 1.1 | |
| On a permanent contract | 3 | 1 |
| Joined | 8 | 3 |
| Left | 6 | 2 |
Source: social balance sheet in the 2023 to 2024 annual accounts
| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €42,851 | €87,326 | €83,851 | €22,222 |
| Intangible fixed assets | - | - | €2,500 | €9,514 |
| Financial fixed assets | €7,364 | €3,675 | - | €3,196 |
| €48,991 | €37,055 | €16,732 | €3,687 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is 35% higher than in 2023 and the highest since 2020. It is a recovery after the fall in 2023.
Debt's share of the balance-sheet total rises from 64.2% to 72.9%. Equity and debt are higher.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of CIRCLE. Every holding stands with its own latest accounts.
The connected companies are in the list below.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
CREATE was incorporated on 4 May 2011.1 The name was changed to RISE Management in 2018 and to CREATE in 2020.23 Since 2018 the registered office has moved 4 times, most recently to Lokeren in 2025.24 In 2021 the capital was increased by €100,000 to €100,500.5 Total assets rose from €66,907 in 2020 to €1.9m in 2024.6
| Establishment | Since | Unit number |
|---|---|---|
| Bouwstraat 14 registered office 9160 Lokeren | ||
| Posthofbrug 6/8 2600 Antwerp | 27-05-2011 | 2.199.284.364 |
| Bouwstraat 14 C13 9160 Lokeren | 17-06-2024 | 2.360.690.384 |
| Bouwstraat 14 C3 9160 Lokeren | 17-06-2024 | 2.360.690.483 |
| Bouwstraat 14 C12 9160 Lokeren | 17-06-2024 | 2.360.690.582 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11003A0160/00H002 | 1.5 ha | 1 · 766 m² | 7.8 m |
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