e4SAFE
ActiveSummary
e4SAFE has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €42,518 and a net result of €21,154. Equity has been growing by about 37% per year since 2018. Its solvency ranks better than 56% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-05-2008 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.171.737.948 8400 Oostende, since 03-07-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 12-02-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Turnover
- €170,430
- ▲ 5.2%
- Profit
- €21,154
- ▲ 375%
- Equity
- €42,518
- ▲ 99.0%
- Total assets
- €68,401
- ▲ 2.2%
Score breakdownraises risk1 of the last 3 accounts lateLiquidity: current ratio 2.30, cash €1,997, halvedSize: turnover €170,430, total assets €68,401lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Show 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 70, micro). It does better than 57% of them on solvency, 17% on liquidity, 84% on profitability and 74% on growth.
The bankruptcy probability was computed on 02-11-2026 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 7 accounts on average 37 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 18 filings
Every figure per financial year
The operating result for 2025 is 3.9 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €78,022 | - | - | - | - |
| Depreciation and write-downs of the year | €7,110 | €15,604 | €15,604 | €15,604 | €15,604 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €148,987 | €163,407 | €161,956 | €170,430 | ▲ 5.2% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €133,128 | €145,380 | €141,243 | €128,096 | ▼ 9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,039 | €1,521 | €1,326 | €7,110 | €15,604 | €15,604 | €15,604 | €15,604 | = |
| Other operating charges640/8 | - | - | - | €421 | €468 | €487 | €551 | €629 | ▲ 14.0% |
| Gross operating margin9900 | -€3,589 | €18,119 | €15,536 | €13,046 | €19,085 | €21,054 | €23,540 | €44,961 | ▲ 91.0% |
| Operating profit (loss)9901 | -€12,400 | €12,455 | €13,571 | €5,516 | €3,013 | €4,963 | €7,384 | €28,728 | ▲ 289% |
| Financial income75/76B | - | - | - | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €600 | €1,446 | €1,120 | €929 | €872 | ▼ 6.1% |
| Recurring financial charges65 | €1,776 | €769 | €83 | €600 | €1,446 | €1,120 | €929 | €872 | ▼ 6.1% |
| Profit (loss) for the period before taxes9903 | -€14,175 | €11,685 | €13,488 | €4,916 | €1,567 | €3,843 | €6,455 | €27,857 | ▲ 332% |
| Income taxes67/77 | -€2 | €557 | €3,576 | €1,864 | €931 | €1,527 | €2,000 | €6,703 | ▲ 235% |
| Profit (loss) for the period9904 | -€14,173 | €11,128 | €9,912 | €3,053 | €636 | €2,316 | €4,455 | €21,154 | ▲ 375% |
| Profit (loss) for the period to be appropriated9905 | -€14,173 | €11,128 | €9,912 | €3,053 | €636 | €2,316 | €4,455 | €21,154 | ▲ 375% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €21,120 | €20,230 | €31,069 | €102,474 | €90,430 | €73,192 | €66,938 | €68,401 | ▲ 2.2% |
| Fixed assets21/28 | €2,200 | €1,650 | €324 | €71,236 | €55,632 | €40,027 | €24,423 | €8,818 | ▼ 63.9% |
| Tangible fixed assets22/27 | €2,200 | €1,650 | €324 | €71,236 | €55,632 | €40,027 | €24,423 | €8,818 | ▼ 63.9% |
| Furniture and vehicles24 | - | - | - | €71,236 | €55,632 | €40,027 | €24,423 | €8,818 | ▼ 63.9% |
| Current assets29/58 | €18,920 | €18,580 | €30,745 | €31,238 | €34,798 | €33,165 | €42,515 | €59,583 | ▲ 40.1% |
| Amounts receivable within one year40/41 | €11,386 | €12,976 | €25,025 | €13,903 | €27,505 | €32,579 | €21,850 | €57,305 | ▲ 162% |
| Trade receivables40 | - | - | - | €13,903 | €27,505 | €32,579 | €15,506 | €44,664 | ▲ 188% |
| Other amounts receivable41 | - | - | - | - | - | - | €6,344 | €12,642 | ▲ 99.3% |
| Current investments50/53 | €1 | €1 | €1 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €6,855 | €5,015 | €5,412 | €15,966 | €5,898 | €343 | €20,400 | €1,997 | ▼ 90.2% |
| Deferred charges and accrued income490/1 | - | - | - | €1,369 | €1,395 | €243 | €265 | €281 | ▲ 6.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €21,120 | €20,230 | €31,069 | €102,474 | €90,430 | €73,192 | €66,938 | €68,401 | ▲ 2.2% |
| Equity10/15 | -€10,136 | €992 | €10,904 | €13,956 | €14,593 | €16,909 | €21,364 | €42,518 | ▲ 99.0% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €31,860 | €31,860 | €31,860 | €31,860 | €31,860 | €31,860 | €31,860 | €31,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Profit (loss) carried forward14 | -€48,196 | -€37,068 | -€27,156 | -€24,104 | -€23,467 | -€21,151 | -€16,696 | €4,458 | - |
| Amounts payable17/49 | €31,256 | €19,238 | €20,165 | €88,518 | €75,837 | €56,283 | €45,574 | €25,883 | ▼ 43.2% |
| Amounts payable after more than one year17 | - | - | - | €52,610 | €38,674 | €24,738 | €9,879 | - | - |
| Financial debts170/4 | - | - | - | €52,610 | €38,674 | €24,738 | €9,879 | - | - |
| Amounts payable within one year42/48 | €31,256 | €19,238 | €20,165 | €35,907 | €36,816 | €31,546 | €35,296 | €25,883 | ▼ 26.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,638 | €13,936 | €13,936 | €14,553 | €9,879 | ▼ 32.1% |
| Trade debts44 | - | €1,020 | €224 | €945 | €47 | €30 | €105 | €206 | ▲ 96.9% |
| Suppliers440/4 | - | - | - | €945 | €47 | €30 | €105 | €206 | ▲ 96.9% |
| Taxes, remuneration and social security45 | - | - | - | €13,043 | €22,233 | €16,472 | €20,638 | €15,798 | ▼ 23.5% |
| Taxes450/3 | - | - | - | €13,043 | €22,233 | €16,472 | €20,638 | €15,798 | ▼ 23.5% |
| Other amounts payable47/48 | - | - | - | €8,282 | €600 | €1,107 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €348 | - | €399 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,173 | €11,128 | €9,912 | €3,053 | €636 | €2,316 | €4,455 | €21,154 | ▲ 375% |
| + Depreciation and write-downs630 | €8,039 | €1,521 | €1,326 | €7,110 | €15,604 | €15,604 | €15,604 | €15,604 | = |
| Operating cash flow (approximation) | -€6,134 | €12,649 | €11,238 | €10,162 | €16,241 | €17,921 | €20,060 | €36,758 | ▲ 83.2% |
| Investment in fixed assets (approximation) | - | -€971 | €0 | -€78,022 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€1,840 | €397 | €10,554 | -€10,068 | -€5,555 | €20,057 | -€18,404 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as e4SAFE has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of e4SAFE itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for e4SAFE. 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.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-07-2026 | 2026-00328252 | |
| 31-12-2024 | micro format | 24-09-2025 | 2025-00506565 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00451240 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00425609 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20336602 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64300421 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66700124 | |
| 31-12-2018 | micro format | 11-11-2019 | 2019-73800043 | |
| 31-12-2017 | micro format | 29-10-2018 | 2018-71100324 | |
| 31-12-2016 | micro format | 22-03-2018 | 2018-07500557 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 26-01-2024 Capital stated in the deed · 100 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Godeau Jean-Marc |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement actions acquises, à peine de nullité”
Articles of association, deed of 26-01-2024 (in French)
Network & group
e4SAFE shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of e4SAFE. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
26-01
Gazette deed
Change of role: Godeau Jean-Marc, from manager to directorAmendment of the articles · Capital conversion · Reserve release10 points ▸
- General meeting, 12-01-2024
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “compte de capitaux propres statutairement indisponible, compte de capitaux propres apports non appelés” (deed in French)
- Reserve release, “suppression, fonds disponibles pour distribution” (deed in French)
- Capital
- Director appointment, Godeau Jean-Marc (director (not named in the articles))
- Director resignation, Godeau Jean-Marc (manager)
- Director discharge, Godeau Jean-Marc
- Registered office clause, “6567 Merbes-le-Château,rue François Bovesse 33” (deed in French)
- Other provision, “clôture, toutes décisions prises à l’unanimité des voix” (deed in French)
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
8 activities
- Le développement,la maintenance et la gestion d’outils,de logiciels et de systèmes
- La vente et l’achat de services,de logiciels,de systèmes et de matériels
- La formation,l’éducation,l’assistance et le coaching de personnes
- Les services de consultance,de conseil et d’audit
- La gestion de projets,gestion de crise,gestion de risque,gestion en général
- La gestion et la mise à disposition de locaux
- La gestion de l’énergie
- Le respect de l’écologie
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 35386D0245/00B004 | Flanders | 311 m² | 1 · 311 m² | 23.7 m · 7 |
| 56050A0102/00A000 | Wallonia | 251 m² | 1 · 56 m² | 10.3 m · 3 |