Equity
Equity fell by 62% in 4 years.
Equity fell by 62% in 4 years.
The micro format states no turnover.
Of this, €159,052 falls due within a year.
Green is investment, beige is depreciation.
The 2019 accounts came 19 days late. The other six were filed on time.
Higher net result than 95% of companies in architecture and engineering. Sector median €16,709 · 11,793 companies.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, 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 71, micro). It does better than 29% of them on solvency, 49% on liquidity, 88% on profitability and 93% on growth.
The bankruptcy probability was computed on 05-11-2026 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, 6,713 companies had the same profile as Develop Consult has now. Each dot stands for 17 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Develop Consult itself is lower: 0.1% within 12 months. It rests on far more data about Develop Consult 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 6,713 companies, not a prediction for Develop Consult. 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 1.2 (1.22 in 2024), below the usual 1.5. Short-term debt is 57.7% and cash 33.6% of total assets. 71.5% 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 32 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| Develop Consult Edegem | €275,644 | €161,577 | 28.5% | - |
| Bernard Allelyn Herve | €261,675 | €172,957 | 1.1% | - |
| CV GAS ENGINEERING & MAINTENANCE Liège | €257,517 | €148,321 | 28.4% | - |
| VOREDOS Ramillies | €302,169 | €139,792 | 60.6% | - |
| LK ENGINEERING Wanze | €332,044 | €157,612 | 37.1% | - |
| SL-Projects Oosterzele | €261,910 | €170,074 | 46.3% | - |
| BUREAU DESSIN DEBROUX Genappe | €225,005 | €168,703 | 48.6% | - |
These companies have the same main activity as Develop Consult: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €225,000 and €332,000, founded between 2018 and 2020.
Develop Consult files the micro format. That format states no turnover. The gross margin rose from -€4,761 in 2019 to €161,577 in 2025.
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 ≈ €330,000. Estimated: probably between €250,000 and €420,000.
Higher than 28% of 11,792 companies in 2025.
Higher than 28% of 11,519 companies in 2025.
Higher than 88% of 11,603 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
Total assets20/58 |
275,644 | 184,889 | 280,927 | 138,163 | 267,553 | 145,406 | 3,902 | |
Fixed assets21/28 |
85,464 | 2,115 | 540 | 1,832 | 2,385 | 3,919 | - | |
Tangible fixed assets22/27 |
85,464 | 2,115 | 540 | 1,832 | 2,385 | 3,919 | - | |
Plant, machinery and equipment23 |
0 | 100 | 540 | 981 | - | - | - | |
Furniture and vehicles24 |
85,464 | 2,015 | 0 | 851 | 2,385 | 3,919 | - | |
Current assets29/58 |
190,180 | 182,774 | 280,386 | 136,331 | 265,168 | 141,487 | 3,902 | |
Amounts receivable after more than one year29 |
- | - | - | - | 115,000 | - | - | |
Other amounts receivable291 |
- | - | - | - | 115,000 | - | - | |
Amounts receivable within one year40/41 |
28,950 | 22,208 | 63,961 | 48,671 | 76,888 | 53,230 | 819 | |
Trade receivables40 |
22,071 | 19,350 | 63,961 | 48,000 | 76,888 | 53,230 | - | |
Other amounts receivable41 |
6,879 | 2,858 | 0 | 671 | - | - | 819 | |
Current investments50/53 |
39,285 | 80,000 | - | - | - | - | - | |
Cash at bank and in hand54/58 |
92,684 | 50,775 | 214,426 | 82,821 | 73,280 | 86,257 | 3,082 | |
Deferred charges and accrued income490/1 |
29,262 | 29,791 | 1,999 | 4,839 | - | 1,999 | - | |
| Balance sheet: equity and liabilities | ||||||||
Total equity and liabilities10/49 |
275,644 | 184,889 | 280,927 | 138,163 | 267,553 | 145,406 | 3,902 | |
Equity10/15 |
78,569 | 35,000 | 5,000 | 5,000 | 209,457 | 100,449 | 239 | |
Contributions10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | - | |
Contributions outside capital11 |
- | - | - | - | - | - | 5,000 | |
Share premium1100/10 |
- | - | - | - | - | - | 5,000 | |
Reserves13 |
73,569 | 30,000 | - | - | 204,457 | 95,449 | - | |
Distributable reserves133 |
73,569 | 30,000 | - | - | 204,457 | 95,449 | - | |
Profit (loss) carried forward14 |
0 | 0 | 0 | - | - | - | -4,761 | |
Amounts payable17/49 |
197,075 | 149,889 | 275,927 | 133,163 | 58,097 | 44,958 | 3,662 | |
Amounts payable after more than one year17 |
37,613 | - | - | - | - | - | - | |
Financial debts170/4 |
37,613 | - | - | - | - | - | - | |
Amounts payable within one year42/48 |
159,052 | 149,327 | 275,518 | 133,163 | 57,747 | 44,958 | 3,662 | |
Current portion of amounts payable after more than one year42 |
15,843 | - | - | - | - | - | - | |
Trade debts44 |
1,840 | 2,346 | 1,415 | 536 | 1,573 | 734 | 2,299 | |
Suppliers440/4 |
1,840 | 2,346 | 1,415 | 536 | 1,573 | 734 | 2,299 | |
Taxes, remuneration and social security45 |
9,862 | 10,691 | 43,236 | 780 | 49,190 | 42,262 | - | |
Taxes450/3 |
7,662 | 8,491 | 41,036 | 780 | 46,990 | 42,262 | - | |
Remuneration and social security454/9 |
2,200 | 2,200 | 2,200 | - | 2,200 | - | - | |
Other amounts payable47/48 |
131,507 | 136,289 | 230,867 | 131,846 | 6,983 | 1,962 | 1,363 | |
Accrued charges and deferred income492/3 |
409 | 563 | 409 | - | 350 | - | - | |
| Income statement | ||||||||
Gross operating margin9900 |
161,577 | 211,179 | 303,834 | 129,564 | 141,748 | 129,029 | -4,761 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
15,148 | 1,061 | 1,291 | 1,875 | 1,534 | 683 | - | |
Other operating charges640/8 |
804 | 505 | 493 | 450 | 207 | 259 | - | |
Operating profit (loss)9901 |
145,626 | 209,612 | 302,050 | 127,240 | 140,007 | 128,087 | -4,761 | |
Financial income75/76B |
7,733 | 578 | 0 | 1,393 | 1,444 | - | - | |
Recurring financial income75 |
2,242 | 578 | 0 | 1,393 | 1,444 | - | - | |
Non-recurring financial income76B |
5,491 | - | - | - | - | - | - | |
Financial charges65/66B |
2,233 | 686 | 905 | 1,070 | 1,307 | 434 | - | |
Recurring financial charges65 |
2,233 | 686 | 905 | 1,070 | 1,307 | 434 | - | |
Profit (loss) for the period before taxes9903 |
151,125 | 209,505 | 301,145 | 127,562 | 140,143 | 127,653 | -4,761 | |
Income taxes67/77 |
33,689 | 48,815 | 72,660 | 28,079 | 31,135 | 27,444 | - | |
Profit (loss) for the period9904 |
117,436 | 160,690 | 228,484 | 99,483 | 109,008 | 100,209 | -4,761 | |
Profit (loss) for the period to be appropriated9905 |
117,436 | 160,690 | 228,484 | 99,483 | 109,008 | 100,209 | -4,761 | |
| Appropriation of the result | ||||||||
Profit (loss) to be appropriated9906 |
117,436 | 160,690 | 228,484 | 99,483 | 109,008 | 95,449 | -4,761 | |
Transfer from equity791/2 |
- | - | 0 | 204,457 | - | - | - | |
Transfer to equity691/2 |
43,569 | 30,000 | - | - | 109,008 | 95,449 | - | |
To other reserves6921 |
43,569 | 30,000 | - | - | 109,008 | 95,449 | - | |
Profit to be distributed694/7 |
73,867 | 130,690 | 228,484 | 303,940 | - | - | - | |
Return on contributions (dividend)694 |
73,867 | 130,690 | 228,484 | 303,940 | - | - | - | |
| Document | ||||||||
The notes to these accounts have 10 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 2025 (PDF), filed on 08-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-04-2026 | 2026-00074006 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00168561 | |
| 31-12-2023 | micro format | 12-07-2024 | 2024-00238356 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00218530 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20117756 | |
| 31-12-2020 | micro format | 09-07-2021 | 2021-33900529 | |
| 31-12-2019 | micro format | 19-08-2020 | 2020-42600267 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| EBITDA | 160,774 | 210,673 | 303,341 | 129,114 | 141,541 | 128,770 | - | |
| Cash flow | 132,584 | 161,751 | 229,776 | 101,358 | 110,542 | 100,892 | - | |
| Investment in fixed assets (approximation) | 98,497 | 2,635 | 0 | 1,321 | 0 | 4,602 | - | |
| Change in cash | 41,909 | -163,651 | 131,605 | 9,541 | -12,977 | 83,175 | - | |
| Working capital | 31,128 | 33,448 | 4,869 | 3,168 | 207,422 | 96,529 | 239 | |
| Solvency | 28.5% | 18.9% | 1.8% | 3.6% | 78.3% | 69.1% | - | |
| Current ratio | 1.20 | 1.22 | 1.02 | 1.02 | 4.59 | 3.15 | - | |
| Debt to equity | 2.51 | 4.28 | 55.19 | 26.63 | 0.28 | 0.45 | - | |
| ROE | 149.5% | 459.1% | - | - | 52.0% | 99.8% | - | |
| ROA | 42.6% | 86.9% | 81.3% | 72.0% | 40.7% | 68.9% | - | |
| Interest coverage | 72.00 | over 100 | over 100 | over 100 | over 100 | - | - |
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 |
|---|---|---|---|---|---|
| Tangible fixed assets | €98,497 | €2,635 | - | €1,321 | - |
| Financial fixed assets | €0 | - | - | - | - |
| Depreciation and write-downs of the year | €15,148 | €1,061 | €1,291 | €1,875 | €1,534 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 31% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 81.1% to 71.5%. Equity and debt are higher.
Develop Consult has no parent and no holdings in its annual accounts. Van Hoof Stijn is the only director. Develop Consult shares no director with another company.
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 | FASFC approval |
|---|---|---|---|
| Prins Boudewijnlaan 198 registered office 2650 Edegem | 05-12-2019 | 2.296.884.477 | Itinerant food vendors |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11472C0215/00B002 | 951 m² | 1 · 157 m² | - |
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