DOCUMENT SOLUTION LIEGE
ActiveSummary
DOCUMENT SOLUTION LIEGE has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €417,882 and a net result of €107,440. Equity is shrinking by about 8% per year across the filed financial years. Its solvency ranks better than 37% of 5,007 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Staff
- 4.3 FTE
- Equity
- €417,882
- Profit
- €107,440
- Parent
- EURO BUROTIC SERVICES · 100%
- FR CAPITALDirector · permanent representative Frédéric Rousseau
Why 83raises riskLiquidity: current ratio 1.36, cash €25,089, halvedSector: Retail trade (NACE 47)lowers riskFounded in 2000Legal form: public limited companyShow the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 47, micro): better than 40% on solvency, 14% on liquidity, 55% on profitability and 45% on growth.
The bankruptcy probability was computed on 24-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 47 days before the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Back to profitnet €107,440
- Resignation: EBS IMMO SRL (director)Permanent representative: Frédéric Rousseau ·…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €118,752 after a loss of €187,185 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 3,818 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 95.2% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,474 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 3,818 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.03m | €442 | €0.004m | €0.05m | €0.009m | ▼ 83.3% |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.8m | €0.7m | €0.6m | €0.4m | ▼ 29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.04m | €0.03m | €0.02m | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.001m | €0.04m | -€0.007m | €0.2m | -€0.04m | - |
| Other operating charges640/8 | - | - | - | €0.03m | €0.02m | €0.03m | €0.07m | €0.003m | ▼ 96.4% |
| Non-recurring operating charges66A | - | - | - | €0.01m | €0.005m | €0.04m | €324 | €0 | ▼ 100% |
| Gross operating margin9900 | €0.8m | €1.1m | €0.7m | €0.7m | €0.9m | €1.0m | €0.7m | €0.5m | ▼ 24.1% |
| Operating profit (loss)9901 | €0.05m | €0.2m | -€0.2m | -€0.1m | -€0.01m | €0.3m | -€0.2m | €0.1m | - |
| Financial income75/76B | - | - | - | €0.05m | €0.005m | €437 | €0.002m | €0.02m | ▲ 595% |
| Recurring financial income75 | €0.05m | €0.009m | €0.02m | €0.05m | €0.005m | €437 | €0.002m | €0.02m | ▲ 595% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.05m | €0.03m | €0.03m | ▼ 4.3% |
| Recurring financial charges65 | €0.02m | €0.04m | €0.04m | €0.02m | €0.02m | €0.05m | €0.03m | €0.03m | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | €0.08m | €0.1m | -€0.2m | -€0.1m | -€0.03m | €0.2m | -€0.2m | €0.1m | - |
| Income taxes67/77 | €0.04m | €0.05m | €0.003m | -€0.05m | €0.002m | €0.07m | €0.001m | €0.001m | ▲ 66.7% |
| Profit (loss) for the period9904 | €0.05m | €0.08m | -€0.2m | -€0.07m | -€0.03m | €0.1m | -€0.2m | €0.1m | - |
| Profit (loss) for the period to be appropriated9905 | €0.05m | €0.08m | -€0.2m | -€0.07m | -€0.03m | €0.1m | -€0.2m | €0.1m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.5m | €4.0m | €3.1m | €2.5m | €2.2m | €2.7m | €2.0m | €1.7m | ▼ 16.8% |
| Fixed assets21/28 | €0.09m | €0.07m | €0.05m | €0.07m | €0.07m | €0.06m | €0.07m | €0.08m | ▲ 14.8% |
| Intangible fixed assets21 | €0.01m | €0.008m | €0.003m | €0.002m | €0.006m | €0.01m | €0.02m | €0.02m | ▼ 26.2% |
| Tangible fixed assets22/27 | €0.08m | €0.06m | €0.04m | €0.07m | €0.06m | €0.05m | €0.04m | €0.06m | ▲ 38.6% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.05m | €0.03m | €0.02m | €0.01m | ▼ 48.1% |
| Other tangible fixed assets26 | - | - | - | €0.02m | €0.01m | €0.01m | €0.02m | €0.04m | ▲ 168% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €3.4m | €4.0m | €3.1m | €2.4m | €2.1m | €2.6m | €2.0m | €1.6m | ▼ 17.9% |
| Stocks and contracts in progress3 | €0.2m | €0.3m | €0.2m | €0.1m | €0.3m | €0.3m | €0.5m | €0.2m | ▼ 58.4% |
| Stocks30/36 | - | - | - | €0.1m | €0.3m | €0.3m | €0.5m | €0.2m | ▼ 58.4% |
| Amounts receivable within one year40/41 | €3.0m | €3.5m | €2.7m | €2.2m | €1.8m | €2.2m | €1.0m | €1.4m | ▲ 36.8% |
| Trade receivables40 | - | - | - | €1.9m | €1.3m | €2.0m | €0.6m | €0.7m | ▲ 6.1% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.5m | €0.2m | €0.4m | €0.7m | ▲ 93.0% |
| Cash at bank and in hand54/58 | €0.1m | €0.09m | €0.05m | €0.04m | €0.04m | €0.1m | €0.4m | €0.03m | ▼ 94.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.08m | €0.06m | €0.08m | €0.04m | €0.01m | ▼ 72.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.5m | €4.0m | €3.1m | €2.5m | €2.2m | €2.7m | €2.0m | €1.7m | ▼ 16.8% |
| Equity10/15 | €0.7m | €0.8m | €0.6m | €0.5m | €0.5m | €0.6m | €0.4m | €0.4m | ▲ 1.8% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.4m | ▲ 14× |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €0.3m | - |
| Profit (loss) carried forward14 | €0.6m | €0.7m | €0.5m | €0.4m | €0.4m | €0.5m | €0.3m | €0 | ▼ 100% |
| Amounts payable17/49 | €2.8m | €3.2m | €2.6m | €2.0m | €1.7m | €2.1m | €1.6m | €1.3m | ▼ 21.6% |
| Amounts payable after more than one year17 | - | - | €0.03m | €0 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €2.8m | €3.2m | €2.4m | €1.9m | €1.7m | €2.0m | €1.5m | €1.2m | ▼ 23.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0 | - | - | - | - |
| Financial debts43 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 8.4% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 8.4% |
| Trade debts44 | €2.3m | €2.4m | €1.5m | €1.5m | €1.0m | €1.6m | €1.0m | €0.7m | ▼ 30.2% |
| Suppliers440/4 | - | - | - | €1.5m | €1.0m | €1.6m | €1.0m | €0.7m | ▼ 30.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 35.5% |
| Taxes450/3 | - | - | - | €0.1m | €0.3m | €0.2m | €0.1m | €0.09m | ▼ 27.4% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.09m | €0.07m | €0.1m | €0.09m | ▼ 41.9% |
| Other amounts payable47/48 | - | - | - | €0.008m | €0.1m | €137 | €0.1m | €0.1m | ▲ 32.6% |
| Accrued charges and deferred income492/3 | - | - | - | €0.06m | €0.07m | €0.06m | €0.07m | €0.09m | ▲ 21.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,297 | €81,307 | -€234,789 | -€74,281 | -€30,490 | €146,742 | -€212,986 | €107,440 | - |
| + Depreciation and write-downs630 | €36,324 | €41,704 | €30,248 | €22,637 | €29,595 | €28,078 | €24,457 | €24,059 | ▼ 1.6% |
| Operating cash flow (approximation) | €81,620 | €123,011 | -€204,542 | -€51,644 | -€895 | €174,820 | -€188,529 | €131,499 | - |
| Investment in fixed assets (approximation) | - | -€18,973 | -€12,060 | -€46,624 | -€24,581 | -€21,191 | -€29,194 | -€33,777 | ▼ 15.7% |
| Change in cash | - | -€36,740 | -€39,943 | -€3,907 | -€1,491 | €72,314 | €313,317 | -€402,693 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 29-04-2026 | 2026-00103160 |
| 31-12-2024 | full format | 11-06-2025 | 2025-00150687 |
| 31-12-2023 | full format | 10-06-2024 | 2024-00119685 |
| 31-12-2022 | full format | 12-06-2023 | 2023-00123756 |
| 31-12-2021 | full format | 28-07-2022 | 2022-20269346 |
| 31-12-2020 | full format | 01-07-2021 | 2021-28700081 |
| 31-12-2019 | full format | 08-06-2020 | 2020-15400037 |
| 31-12-2018 | full format | 27-06-2019 | 2019-23800086 |
| 31-12-2017 | full format | 07-06-2018 | 2018-16600580 |
| 31-12-2016 | full format | 06-07-2017 | 2017-28800471 |
Similar companies · same sector, comparable size
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.
Directors
Board 1
Permanent representatives 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| FR CAPITAL |
|
| EBS IMMO |
|
| David Zimmermann |
|
Owners and capital
Owners
1 ownerChain of control
- FR CAPITAL
- EURO BUROTIC SERVICES
- DOCUMENT SOLUTION LIEGE
Highest known parent: FR CAPITAL. The sources do not say who stands above it.
Owners 1
-
100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
2 connected companiesThe connected companies are in the list below.
History
Acts, filings and financial milestones
23-06
Gazette deed
Resignation: EBS IMMO SRL (director)Permanent representative: Frédéric Rousseau · Appointment: FR CAPITAL SRL (director) · Director discharge10 facts ▸
- General meeting, 04-06-2025
- Director resignation, EBS IMMO SRL (director)
- Permanent representative, Frédéric Rousseau (2 times)
- Director discharge, David Zimmerman
- Director discharge, EBS IMMO SRL
- Director discharge, Frédéric Rousseau
- Other provision, “formalités de nomination non réalisées, certaines formalités relatives à la nomination du nouvel administrateur n'ont pas été réalisées” (deed in French)
- Director appointment, FR CAPITAL SRL (director)
- Other provision, “administrateur, acceptation du mandat et absence d'interdiction” (deed in French) (2 times)
- Power of attorney
26-09
Gazette deed
Resignation: David Zimmermann (director)Director discharge · Power of attorney5 facts ▸
- General meeting, 23-08-2024
- Director resignation, David Zimmermann (director)
- Director discharge, David Zimmermann (director)
- Other provision, “administrateur, en faveur” (deed in French)
- Power of attorney
20-02
Gazette deed
Capital & shares · Resignations & appointmentsShareholding · Power of attorney · Director in office13 facts ▸
- General meeting, 16-02-2024
- Shareholding, 16-02-2024, 2
- Power of attorney, Alexandre BUGGENHOUT
- Director in office, David Zimmermann (director)
- Other provision, “Modification de l’objet et des statuts, Mandat” (deed in French)
- Other provision, “représentation du capital, intégralité du capital social” (deed in French)
- Other provision, “validité de l’assemblée” (deed in French)
- Other provision, “rapport article 7:154, rapport de l’organe d’administration sur modification de l’objet” (deed in French)
- Amendment of the articles
- Capital, €61,973.38
- Other provision, “unanimité, confirmation des mandats d'administrateur” (deed in French)
- Power of attorney
- +1 further fact in this act
Show earlier events
About the unread acts
Of the 13 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 24 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62046A0055/00W002 | Wallonia | 3,122 m² | - | - |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Titre I, Article 1
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Simple décision, Région wallonne” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 18 : Représentation de la société 1. Tous les actes qui engagent la société, en justice et dans tous les actes, sont valables s’ils…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration / conseil d'administration, jusqu'à remplacement raisonnable à la demande de la société” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Mutatis mutandis,ayants droit informent qualité d'héritier ou légataire dans deux mois du décès,notifications par chaque héritier ou…” (deed in French)
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “En une ou plusieurs fois, jour fixé par la loi comme point de départ” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Wednesday of June at 18:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Liquidation par l'organe d'administration en fonction à défaut de nomination, nommés par l'assemblée générale” (deed in French)“Toutes opérations prévues par la loi sauf décision contraire de l'assemblée générale à la majorité des voix” (deed in French)