Depends
ActiveSummary
Depends has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,809 and a net result of €44,735. Equity has been growing by about 65% per year since 2023. Its solvency ranks better than 45% of 3,395 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-09-2023 Normal situation
- Activity
- Computer programming NACE 62100and 5 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2024
- Establishment unit
- 2.349.054.047 8840 Staden, since 05-09-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 30-11-2024
Board and ownership
- NOYEZ Mathias Roland JohanDirector · since 04-09-2023
- VERSCHUEREN Pieter Emiel YvanDirector · since 04-09-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €224,761
- ▲ 67.7%
- Turnover
- ≈ €360,000
- estimated
- Profit
- €44,735
- ▲ 57.8%
- Equity
- €85,809
- ▲ 109%
- Total assets
- €212,134
- ▲ 56.2%
- Employees on 31-12-2025
- 4
- ▲ 100%
Score breakdownraises risk1 change of registered office in 24 monthsFounded in 2023lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Liquidity: current ratio 1.61, cash €54,541Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, micro). It does better than 36% of them on solvency, 32% on liquidity, 59% on profitability and 90% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 12 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is 63% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 4 |
| full-time | 2 | 4 |
| part-time | 0 | 0 |
| in full-time equivalents | 2 | 4 |
| Average over the year, in full-time equivalents | 1.8 | 3.1 |
| On a permanent contract | 2 | 4 |
| Joined | 2 | 2 |
| Left | 0 | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €639 | €1,707 | €7,613 |
| Financial fixed assets | €1,188 | - | €0 |
| Depreciation and write-downs of the year | €440 | €1,584 | €1,305 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €418 awarded · €98 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €118 | €98 |
| 2024 | 1 | €300 | €0 |
Comparable companies
These companies have the same main activity as Depends: computer programming (NACE 62100). They are comparable in size and age: total assets between €198,000 and €412,000, founded between 2022 and 2024.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| Depends Staden | 2023 | €212,134 | €85,809 | €224,761 | €44,735 | 3.1 | 2025 |
| Basikon Belgium Chaumont-Gistoux | 2023 | €198,087 | €59,544 | €304,216 | €15,379 | 2 | 2025 |
| Gynzy Belgium Brussel | 2022 | €264,602 | €15,180 | €197,451 | €5,792 | 2.1 | 2025 |
| DEUSE HASSELT Hasselt | 2023 | €234,543 | €108,929 | €136,269 | -€71,071 | 3 | 2025 |
| Specter IT Consulting Antwerpen | 2024 | €212,479 | €25,453 | €291,937 | €21,453 | 2.1 | 2025 |
| Thecreators Oostende | 2023 | €412,205 | €61,811 | €181,440 | €6,303 | 2.2 | 2025 |
| Voxdale Belgium Liège | 2023 | €336,343 | €176,383 | €160,509 | -€9,962 | 1.9 | 2025 |
They were chosen from the 9,111 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 39,278 companies had the same profile as Depends has now. Two years later, 1.8% had gone bankrupt and 95.9% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
The bankruptcy probability of Depends itself is lower: 0.3% within 12 months. It rests on far more data about Depends than the profile alone.
Test of the method
The method was tested on the 497,445 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 39,278 companies, not a prediction for Depends. 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €94,327 | €161,070 | ▲ 70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €440 | €1,584 | €1,305 | ▼ 17.6% |
| Other operating charges640/8 | - | €75 | €219 | ▲ 192% |
| Gross operating margin9900 | €16,374 | €134,045 | €224,761 | ▲ 67.7% |
| Operating profit (loss)9901 | €15,933 | €38,059 | €62,167 | ▲ 63.3% |
| Financial income75/76B | - | €2 | €105 | ▲ 62× |
| Recurring financial income75 | - | €2 | €105 | ▲ 62× |
| Financial charges65/66B | €15 | €1,754 | €763 | ▼ 56.5% |
| Recurring financial charges65 | €15 | €1,754 | €763 | ▼ 56.5% |
| Profit (loss) for the period before taxes9903 | €15,918 | €36,306 | €61,509 | ▲ 69.4% |
| Income taxes67/77 | €3,192 | €7,958 | €16,774 | ▲ 111% |
| Profit (loss) for the period9904 | €12,726 | €28,348 | €44,735 | ▲ 57.8% |
| Profit (loss) for the period to be appropriated9905 | €12,726 | €28,348 | €44,735 | ▲ 57.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €63,194 | €135,817 | €212,134 | ▲ 56.2% |
| Formation expenses20 | €877 | €0 | - | - |
| Fixed assets21/28 | €1,805 | €2,805 | €9,114 | ▲ 225% |
| Tangible fixed assets22/27 | €617 | €1,617 | €7,926 | ▲ 390% |
| Furniture and vehicles24 | €617 | €1,617 | €7,926 | ▲ 390% |
| Financial fixed assets28 | €1,188 | €1,188 | €1,188 | = |
| Current assets29/58 | €60,512 | €133,012 | €203,020 | ▲ 52.6% |
| Amounts receivable within one year40/41 | €33,621 | €112,408 | €147,866 | ▲ 31.5% |
| Trade receivables40 | €32,151 | €112,237 | €147,441 | ▲ 31.4% |
| Other amounts receivable41 | €1,470 | €172 | €425 | ▲ 148% |
| Cash at bank and in hand54/58 | €25,662 | €19,995 | €54,541 | ▲ 173% |
| Deferred charges and accrued income490/1 | €1,229 | €609 | €613 | ▲ 0.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €63,194 | €135,817 | €212,134 | ▲ 56.2% |
| Equity10/15 | €32,726 | €41,074 | €85,809 | ▲ 109% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | - | - | €65,809 | - |
| Distributable reserves133 | - | - | €65,809 | - |
| Profit (loss) carried forward14 | €12,726 | €21,074 | €0 | ▼ 100% |
| Amounts payable17/49 | €30,468 | €94,743 | €126,325 | ▲ 33.3% |
| Amounts payable within one year42/48 | €30,468 | €94,743 | €126,325 | ▲ 33.3% |
| Trade debts44 | €24,150 | €37,278 | €64,421 | ▲ 72.8% |
| Suppliers440/4 | €24,150 | €37,278 | €64,421 | ▲ 72.8% |
| Taxes, remuneration and social security45 | €6,317 | €43,465 | €61,849 | ▲ 42.3% |
| Taxes450/3 | €6,317 | €31,103 | €42,845 | ▲ 37.8% |
| Remuneration and social security454/9 | - | €12,362 | €19,004 | ▲ 53.7% |
| Other amounts payable47/48 | - | €14,000 | €55 | ▼ 99.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,726 | €28,348 | €44,735 | ▲ 57.8% |
| + Depreciation and write-downs630 | €440 | €1,584 | €1,305 | ▼ 17.6% |
| Operating cash flow (approximation) | €13,167 | €29,932 | €46,039 | ▲ 53.8% |
| Investment in fixed assets (approximation) | - | -€2,584 | -€7,613 | ▼ 195% |
| Change in cash | - | -€5,668 | €34,546 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Shareholders
- NOYEZ Mathias Roland Johan 50 shares (50%) · €10,000
- VERSCHUEREN Pieter Emiel Yvan 50 shares (50%) · €10,000
Capital transactions
- 07-09-2023 Incorporation · €20,000 · 100 shares
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| NOYEZ Mathias Roland Johan |
|
| VERSCHUEREN Pieter Emiel Yvan |
|
| Pieter Verschueren |
|
| Bo Demeyer |
|
| Charlotte Defrenne |
|
Articles of association
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Ieder aandeel gelijk recht in winstverdeling, 100”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 07-09-2023 (in Dutch)
Network & group
Connections & network
2 connected companiesThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
31-08
Gazette deed
Registered office moved from Kluisbergen to StadenResignation: Pieter Verschueren (director)3 points ▸
- General meeting, 22-07-2026
- Director resignation, Pieter Verschueren (director (not named in the articles))
- Registered-office move, Roeselarestraat 254, 8840 Staden
07-09
Gazette deed
IncorporationStarting capital €20,000 · Appointments: NOYEZ Mathias Roland Johan, VERSCHUEREN Pieter Emiel Yvan and 2 others · Founder13 points ▸
- Incorporation, “Depends” (deed in Dutch)
- Founder, NOYEZ Mathias Roland Johan (comparant/oprichter)
- Founder, VERSCHUEREN Pieter Emiel Yvan (comparant/oprichter)
- Other provision, “naamvereiste en ontslag opzoeking, voorlezing gehad,verklaring dat naam moet verschillen,uitdrukkelijk ontslag aan notaris van opzoeking in databanken” (deed in Dutch)
- Other provision, 25-08-2023
- Founding capital, €20,000
- Other provision, “statuten, statuten luiden onder meer als volgt” (deed in Dutch)
- Registered office clause, “Berchemstraat 149,9690 Kluisbergen” (deed in Dutch)
- Board rule, 2, “vanaf neerlegging” (deed in Dutch)
- Director appointment, NOYEZ Mathias Roland Johan (director (not named in the articles))
- Director appointment, VERSCHUEREN Pieter Emiel Yvan (director (not named in the articles))
- Director appointment, Charlotte Defrenne (plaatsvervangende bestuurder)
- The act holds 1 more point.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36014B0707/00W002 | Flanders | 599 m² | 1 · 94 m² | 9.2 m · 2 |