CREO
ActiveSummary
CREO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€115,020) and a net result of €7,180. Equity is shrinking by ~27.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability52▼-48
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.51 against 0.47 in 2024; short-term debt: 195.4% and cash: 15.1% of total assets), and equity is negative.
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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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-109.2%
Return on assets
6.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 31958 sector peers (2025).
NBB · sector comparisonPosition among 31958 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
174 d late
2023
9 d early
2022
70 d late
2021
11 d early
2020
15 d early
2019
on the day
← 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 29 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 23 July (4 of the last 5 filed years within 78 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€142,413
EBIT margin
12.3%
Net result
€7,180▼ 89.1%
2024 · €66,020
Working capital
-€101,537▲ 18.0%
2024 · -€123,839
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Turnover€142,413
Operating result-€47,156▼ 296%€16,945-€108,435€77,090€17,549▼ 77.2%
Net result-€59,184below the sector's middle half▼ 270%€6,702within the sector's middle half-€119,487below the sector's middle half€66,020above the sector's middle half€7,180within the sector's middle half▼ 89.1%
EBIT margin12.3%
Equity-€75,435below the sector's middle half▼ 364%-€68,733below the sector's middle half▲ 8.9%-€188,219below the sector's middle half▼ 174%-€122,200below the sector's middle half▲ 35.1%-€115,020below the sector's middle half▲ 5.9%
Total assets€297,758below the sector's middle half▼ 2.4%€432,324within the sector's middle half▲ 45.2%€165,319within the sector's middle half▼ 61.8%€110,039within the sector's middle half▼ 33.4%€105,327within the sector's middle half▼ 4.3%
Debt€339,193▲ 5.6%€476,056▲ 40.3%€353,539▼ 25.7%€232,239▼ 34.3%€205,859▼ 11.4%
Working capital-€37,923within the sector's middle half▼ 116%-€43,018below the sector's middle half▼ 13.4%-€190,493below the sector's middle half▼ 343%-€123,839below the sector's middle half▲ 35.0%-€101,537below the sector's middle half▲ 18.0%
Solvency-25.3%below the sector's middle half▼ 20.0pp-15.9%below the sector's middle half▲ 9.4pp-113.9%below the sector's middle half▼ 98.0pp-111.1%below the sector's middle half▲ 2.8pp-109.2%below the sector's middle half▲ 1.8pp
Current ratio0.89within the sector's middle half▼ 0.060.91below the sector's middle half▲ 0.020.46below the sector's middle half▼ 0.450.47below the sector's middle half▲ 0.010.51below the sector's middle half▲ 0.04
Return on assets (ROA)-19.9%below the sector's middle half▼ 14.6pp1.6%below the sector's middle half▲ 21.4pp-72.3%below the sector's middle half▼ 73.8pp60.0%above the sector's middle half▲ 132.3pp6.8%within the sector's middle half▼ 53.2pp
Staff (FTE)7.4within the sector's middle half▲ 2.8%6.5▼ 12.2%4.8▼ 26.2%3.7▼ 22.9%3.2▼ 13.5%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 77% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €105,327
Fixed assets
€1,005 ▼ 38.7%
Current assets
€104,322 ▼ 3.8%
Key figures and ratios
EBITDA
€18,183▼
2024 · €77,724
Cash flow
€7,814▼
2024 · €66,654
Debt to equity
-1.79▲
2024 · -1.90
Interest coverage
1.75▼
2024 · 7.02
Debt ≤ 1 year
€205,859▼
2024 · €232,239
Staff costs
€201,415▼
2024 · €250,674
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,632 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €142,413 | - |
| Non-recurring operating income76A | - | €3,028 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €57,152 | €75,236 | €70,370 | €48,657 | €13,382 | ▼ 72.5% |
| Remuneration, social security and pensions62 | €311,845 | €284,908 | €320,327 | €250,674 | €201,415 | ▼ 19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,136 | €376 | €673 | €635 | €635 | = |
| Other operating charges640/8 | €1,626 | €185 | €3,214 | €1,803 | €120 | ▼ 93.3% |
| Non-recurring operating charges66A | €34,315 | €27,361 | €33,567 | - | €14,488 | - |
| Gross operating margin9900 | €301,766 | €329,774 | €249,346 | €330,202 | €234,206 | ▼ 29.1% |
| Operating profit (loss)9901 | -€47,156 | €16,945 | -€108,435 | €77,090 | €17,549 | ▼ 77.2% |
| Financial income75/76B | €1 | €1 | - | €1 | - | - |
| Recurring financial income75 | €1 | €1 | - | €1 | - | - |
| Financial charges65/66B | €12,029 | €10,243 | €11,052 | €11,071 | €10,369 | ▼ 6.3% |
| Recurring financial charges65 | €12,029 | €10,243 | €11,052 | €11,071 | €10,369 | ▼ 6.3% |
| Profit (loss) for the period before taxes9903 | -€59,184 | €6,702 | -€119,487 | €66,020 | €7,180 | ▼ 89.1% |
| Profit (loss) for the period9904 | -€59,184 | €6,702 | -€119,487 | €66,020 | €7,180 | ▼ 89.1% |
| Profit (loss) for the period to be appropriated9905 | -€59,184 | €6,702 | -€119,487 | €66,020 | €7,180 | ▼ 89.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €297,758 | €432,324 | €165,319 | €110,039 | €105,327 | ▼ 4.3% |
| Fixed assets21/28 | €150 | €2,947 | €2,274 | €1,639 | €1,005 | ▼ 38.7% |
| Tangible fixed assets22/27 | €150 | €2,947 | €2,274 | €1,639 | €1,005 | ▼ 38.7% |
| Plant, machinery and equipment23 | €73 | - | - | - | - | - |
| Furniture and vehicles24 | €77 | €2,947 | €2,274 | €1,639 | €1,005 | ▼ 38.7% |
| Current assets29/58 | €297,609 | €429,376 | €163,045 | €108,400 | €104,322 | ▼ 3.8% |
| Amounts receivable after more than one year29 | - | - | - | €0 | - | - |
| Trade receivables290 | - | - | - | €0 | - | - |
| Amounts receivable within one year40/41 | €284,468 | €330,388 | €150,223 | €100,860 | €88,190 | ▼ 12.6% |
| Trade receivables40 | €73,148 | - | €1,190 | €7,074 | €33,137 | ▲ 368% |
| Other amounts receivable41 | €211,320 | €330,388 | €149,033 | €93,786 | €55,054 | ▼ 41.3% |
| Cash at bank and in hand54/58 | €11,898 | €95,589 | €11,118 | €5,000 | €15,869 | ▲ 217% |
| Deferred charges and accrued income490/1 | €1,242 | €3,399 | €1,704 | €2,540 | €262 | ▼ 89.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €297,758 | €432,324 | €165,319 | €110,039 | €105,327 | ▼ 4.3% |
| Equity10/15 | -€75,435 | -€68,733 | -€188,219 | -€122,200 | -€115,020 | ▲ 5.9% |
| Profit (loss) carried forward14 | -€75,435 | -€68,733 | -€188,219 | -€122,200 | -€115,020 | ▲ 5.9% |
| Provisions and deferred taxes16 | €34,000 | €25,000 | - | - | €14,488 | - |
| Provisions for liabilities and charges160/5 | - | €25,000 | - | - | €14,488 | - |
| Other liabilities and charges164/5 | - | €25,000 | - | - | €14,488 | - |
| Amounts payable17/49 | €339,193 | €476,056 | €353,539 | €232,239 | €205,859 | ▼ 11.4% |
| Amounts payable within one year42/48 | €335,531 | €472,394 | €353,539 | €232,239 | €205,859 | ▼ 11.4% |
| Financial debts43 | €147,648 | €277,648 | €294,739 | €193,088 | - | - |
| Credit institutions430/8 | €147,648 | €277,648 | €294,739 | €193,088 | - | - |
| Trade debts44 | €8,288 | €8,476 | €15,506 | €15,224 | €17,369 | ▲ 14.1% |
| Suppliers440/4 | €8,288 | €8,476 | €15,506 | €15,224 | €17,369 | ▲ 14.1% |
| Taxes, remuneration and social security45 | €61,934 | €54,924 | €34,833 | €13,242 | €71,621 | ▲ 441% |
| Taxes450/3 | €12,076 | €16,865 | €1,787 | - | €38,117 | - |
| Remuneration and social security454/9 | €49,858 | €38,059 | €33,046 | €13,242 | €33,505 | ▲ 153% |
| Accrued charges and deferred income492/3 | €3,662 | €3,662 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€59,184 | €6,702 | -€119,487 | €66,020 | €7,180 | ▼ 89.1% |
| + Depreciation and write-downs630 | €1,136 | €376 | €673 | €635 | €635 | = |
| Operating cash flow (approximation) | -€58,049 | €7,078 | -€118,814 | €66,654 | €7,814 | ▼ 88.3% |
| Investment in fixed assets (approximation) | - | -€3,173 | €0 | €0 | €0 | - |
| Change in cash | - | €83,691 | -€84,472 | -€6,117 | €10,869 | ▲ 278% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
06-03
Bankruptcy
Judicial dissolution, liquidator appointed
Tribunal de l’entreprise du Hainaut, division Charleroi · event 23-02-2026
21-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 174 days late
2024
31-12
Financial
Back to profitnet €66,020
Net result €66,020 after one loss-making year.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€119,487
Net result drops to -€119,487, the lowest in the series; recovery starts the following year.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
31-12
Financial
Back to profitnet €6,702
Net result €6,702 after 2 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 43 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Les Bons Villers · 1 establishment unit since 2016
Ground area
2.5 ha
Building footprint
1,185 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
Creo
since 20162.249.662.503
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52024B0161/00S000 | Wallonia | 2.5 ha | 1 · 1,095 m² | - |
| 55302C0166/00G008 | Wallonia | 166 m² | 1 · 89 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded13-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
01610Support activities for crop production
73300Public relations and communication consultancy
82100Office administrative and support services
Contact
Website
www.creo-asbl.be
E-mail
info@creo-asbl.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0629893947
Registered
02-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.