EFQM
ActiveSummary
EFQM has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.4m and a net result of €415,359. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 51% of 1413 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability77▲+24
Solvency69▲+7
Growth78▼-2
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity ample (current ratio 3.53 against 2.81 in 2023; short-term debt: 27.7% and cash: 34.5% of total assets), but 55.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
44.1%
Return on assets
13.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-04-2025, 106 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
106 d early
2023
118 d early
2022
62 d early
2021
89 d early
2020
122 d early
2019
140 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 106 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Turnover
€5.7m▲ 4.6%
2023 · €5.5m
EBIT margin
8.8%▲ 3.1pp
2023 · 5.6%
Net result
€415,359▲ 89.5%
2023 · €219,195
Working capital
€2.2m▲ 35.2%
2023 · €1.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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
Line20202021202220232024
Turnover€3.0m▼ 10.3%€3.1m▲ 1.5%€3.9m▲ 27.4%€5.5m▲ 38.9%€5.7m▲ 4.6%
Operating result€77,217-€114,739€67,983€307,603▲ 352%€501,372▲ 63.0%
Net result€56,392within the sector's middle half-€144,126below the sector's middle half€7,818within the sector's middle half€219,195above the sector's middle half▲ 2,704%€415,359above the sector's middle half▲ 89.5%
EBIT margin2.5%▲ 4.4pp-3.7%▼ 6.2pp1.7%▲ 5.4pp5.6%▲ 3.9pp8.8%▲ 3.1pp
Equity€896,225above the sector's middle half▲ 6.7%€752,099above the sector's middle half▼ 16.1%€759,917above the sector's middle half▲ 1.0%€979,112above the sector's middle half▲ 28.8%€1.4mabove the sector's middle half▲ 42.4%
Total assets€2.1mabove the sector's middle half▲ 1.3%€1.9mabove the sector's middle half▼ 7.7%€2.1mabove the sector's middle half▲ 13.0%€2.7mabove the sector's middle half▲ 24.4%€3.2mabove the sector's middle half▲ 18.3%
Debt€1.2m▼ 2.5%€1.1m▼ 1.3%€1.4m▲ 20.8%€1.7m▲ 22.0%€1.8m▲ 4.3%
Working capital€1.3mabove the sector's middle half▲ 2.7%€1.2mabove the sector's middle half▼ 10.0%€1.3mabove the sector's middle half▲ 12.5%€1.6mabove the sector's middle half▲ 24.2%€2.2mabove the sector's middle half▲ 35.2%
Solvency43.5%within the sector's middle half▲ 2.2pp39.6%within the sector's middle half▼ 3.9pp35.4%within the sector's middle half▼ 4.2pp36.6%within the sector's middle half▲ 1.3pp44.1%within the sector's middle half▲ 7.5pp
Current ratio4.30above the sector's middle half▲ 0.684.11above the sector's middle half▼ 0.183.29within the sector's middle half▼ 0.822.81within the sector's middle half▼ 0.493.53within the sector's middle half▲ 0.72
Return on assets (ROA)2.7%within the sector's middle half▲ 6.9pp-7.6%below the sector's middle half▼ 10.3pp0.4%within the sector's middle half▲ 7.9pp8.2%within the sector's middle half▲ 7.8pp13.1%within the sector's middle half▲ 4.9pp
Staff (FTE)7.8within the sector's middle half▼ 24.3%9within the sector's middle half▲ 15.4%8.8within the sector's middle half▼ 2.2%7.9within the sector's middle half▼ 10.2%7.8within the sector's middle half▼ 1.3%
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 63% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.2m
Fixed assets
€70,198 ▼ 45.8%
Current assets
€3.1m ▲ 21.5%
Equity and liabilities €3.2m
Equity
€1.4m ▲ 42.4%
Debt
€1.8m ▲ 4.3%
Debt's share of the balance-sheet total falls from 63.4% to 55.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€602,159▲
2023 · €437,754
Cash flow
€516,146▲
2023 · €349,346
Debt to equity
1.27▼
2023 · 1.73
ROE
29.8%▲
2023 · 22.4%
Interest coverage
3884.90▲
2023 · 2.99
Debt ≤ 1 year
€876,744▼
2023 · €905,456
Income taxes
€32,374▲
2023 · €14,289
Staff costs
€2.8m▲
2023 · €2.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 31,349 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €3.1m | €3.9m | €5.5m | €5.7m | ▲ 4.7% |
| Turnover70 | €3.0m | €3.1m | €3.9m | €5.5m | €5.7m | ▲ 4.6% |
| Other operating income74 | - | €8,140 | - | €3,771 | €7,571 | ▲ 101% |
| Operating charges60/66A | - | €3.2m | €3.9m | €5.2m | €5.2m | ▲ 1.2% |
| Services and other goods61 | - | €1.1m | €1.4m | €2.3m | €2.3m | ▲ 0.8% |
| Remuneration, social security and pensions62 | - | €2.0m | €2.3m | €2.5m | €2.8m | ▲ 9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €82,567 | €118,791 | €135,054 | €130,151 | €100,787 | ▼ 22.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€45,685 | €25,653 | €150,324 | -€27,666 | ▼ 118% |
| Other operating charges640/8 | - | €53,985 | €66,573 | €80,326 | €82,841 | ▲ 3.1% |
| Operating profit (loss)9901 | €77,217 | -€114,739 | €67,983 | €307,603 | €501,372 | ▲ 63.0% |
| Financial income75/76B | - | €7,088 | €35,639 | €72,404 | €45,335 | ▼ 37.4% |
| Recurring financial income75 | €46,180 | €7,088 | €35,639 | €72,404 | €45,335 | ▼ 37.4% |
| Other financial income752/9 | - | €7,088 | €35,639 | €72,404 | €45,335 | ▼ 37.4% |
| Financial charges65/66B | - | €28,604 | €82,863 | €146,523 | €98,974 | ▼ 32.5% |
| Recurring financial charges65 | €67,005 | €28,604 | €82,863 | €146,523 | €98,974 | ▼ 32.5% |
| Debt charges650 | - | - | - | - | €155 | - |
| Other financial charges652/9 | - | €28,604 | €82,863 | €146,523 | €98,819 | ▼ 32.6% |
| Profit (loss) for the period before taxes9903 | €56,392 | -€136,255 | €20,759 | €233,484 | €447,733 | ▲ 91.8% |
| Income taxes67/77 | - | €7,871 | €12,941 | €14,289 | €32,374 | ▲ 127% |
| Taxes670/3 | - | €7,871 | €12,941 | €14,289 | €32,374 | ▲ 127% |
| Profit (loss) for the period9904 | €56,392 | -€144,126 | €7,818 | €219,195 | €415,359 | ▲ 89.5% |
| Profit (loss) for the period to be appropriated9905 | €56,392 | -€144,126 | €7,818 | €219,195 | €415,359 | ▲ 89.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.1m | €1.9m | €2.1m | €2.7m | €3.2m | ▲ 18.3% |
| Fixed assets21/28 | €362,754 | €352,367 | €254,109 | €129,450 | €70,198 | ▼ 45.8% |
| Intangible fixed assets21 | €320,000 | €318,621 | €221,635 | €107,327 | €19,395 | ▼ 81.9% |
| Tangible fixed assets22/27 | €37,101 | €33,746 | €32,474 | €17,777 | €16,208 | ▼ 8.8% |
| Plant, machinery and equipment23 | - | €33,746 | €32,474 | €17,777 | €16,208 | ▼ 8.8% |
| Financial fixed assets28 | €5,653 | - | - | €4,346 | €34,595 | ▲ 696% |
| Affiliated companies280/1 | - | - | - | - | €6,511 | - |
| Participating interests280 | - | - | - | - | €6,511 | - |
| Other financial fixed assets284/8 | - | - | - | €4,346 | €28,084 | ▲ 546% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €4,346 | €28,084 | ▲ 546% |
| Current assets29/58 | €1.7m | €1.5m | €1.9m | €2.5m | €3.1m | ▲ 21.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €150,000 | - |
| Other amounts receivable291 | - | - | - | - | €150,000 | - |
| Amounts receivable within one year40/41 | €677,147 | €546,789 | €902,916 | €1.0m | €1.8m | ▲ 75.2% |
| Trade receivables40 | - | €512,319 | €843,302 | €927,392 | €1.7m | ▲ 86.4% |
| Other amounts receivable41 | - | €34,470 | €59,614 | €108,906 | €87,371 | ▼ 19.8% |
| Cash at bank and in hand54/58 | €983,496 | €971,625 | €943,396 | €1.5m | €1.1m | ▼ 27.7% |
| Deferred charges and accrued income490/1 | - | €29,910 | €47,308 | - | €34,938 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.1m | €1.9m | €2.1m | €2.7m | €3.2m | ▲ 18.3% |
| Equity10/15 | €896,225 | €752,099 | €759,917 | €979,112 | €1.4m | ▲ 42.4% |
| Contributions10/11 | - | - | - | €394,717 | €394,717 | = |
| Capital10 | - | - | - | €394,717 | €394,717 | = |
| Reserves13 | - | €838,073 | - | - | - | - |
| Profit (loss) carried forward14 | -€336,565 | -€480,691 | €365,200 | €584,395 | €999,754 | ▲ 71.1% |
| Amounts payable17/49 | €1.2m | €1.1m | €1.4m | €1.7m | €1.8m | ▲ 4.3% |
| Amounts payable within one year42/48 | €395,025 | €376,495 | €574,836 | €905,456 | €876,744 | ▼ 3.2% |
| Trade debts44 | €151,365 | €65,145 | €151,628 | €338,678 | €287,655 | ▼ 15.1% |
| Suppliers440/4 | - | €65,145 | €151,628 | €338,678 | €287,655 | ▼ 15.1% |
| Advances received on contracts in progress46 | - | €176 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €311,174 | €423,208 | €566,778 | €589,089 | ▲ 3.9% |
| Taxes450/3 | - | €15,000 | €59,567 | €54,757 | €50,529 | ▼ 7.7% |
| Remuneration and social security454/9 | - | €296,174 | €363,641 | €512,021 | €538,560 | ▲ 5.2% |
| Accrued charges and deferred income492/3 | - | €772,097 | €812,976 | €787,836 | €889,784 | ▲ 12.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,392 | -€144,126 | €7,818 | €219,195 | €415,359 | ▲ 89.5% |
| + Depreciation and write-downs630 | €82,567 | €118,791 | €135,054 | €130,151 | €100,787 | ▼ 22.6% |
| Operating cash flow (approximation) | €138,959 | -€25,335 | €142,872 | €349,346 | €516,146 | ▲ 47.7% |
| Investment in fixed assets (approximation) | - | -€108,404 | -€36,796 | -€5,492 | -€41,535 | ▼ 656% |
| Change in cash | - | -€11,871 | -€28,229 | €563,260 | -€416,751 | ▼ 174% |
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
2026
17-09
State Gazette act
Resignation: Shweta Saxena (director)Power of attorney5 facts ▸
State Gazette act
Resignation: Shweta Saxena (director)
Power of attorney5 facts ▸
- Board meeting, 13-07-2026
- Director resignation, Shweta Saxena (director)
- Power of attorney, Johan Lagae
- Power of attorney, Els Bruls
- Other statement, signature block requirement, dit geldt niet voor akten van het type Mededelingen
2025
16-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €415,359 ▲89.5%
Operating result €501,372, net result €415,359, both a record.
31-12
Financial
Equity above €1mEq €1.4m ▲42.4%
3 profitable years in a row build equity to €1.4m.
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €7,818
Net result €7,818 after one loss-making year.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€144,126
Net result drops to -€144,126, the lowest in the series; recovery starts the following year.
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €56,392
Net result €56,392 after 2 loss-making years.
13-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
26-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
18-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 46 acts read
About the unread acts
Of the 46 Belgian State Gazette acts we know for this company, 1 has been read. The other 45 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
45 of this company's 46 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Machelen (Brab.) · 1 establishment unit since 2005
Ground area
2.3 ha
Building footprint
7,713 m²
Volume, LiDAR
124,004 m³
Parcel 23015B0291/00C006, Flanders · tallest building 39.4 m, ±4 floors. Linked by address, not a title deed.
33
companies at this address
See who is registered here
1 establishment unit
Leonardo da Vincilaan 19A, 1831 Machelen (Brab.)
since 20052.265.901.192
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23015B0291/00C006 | Flanders | 2.3 ha | 1 · 7,713 m² | 39.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Shweta Saxena |
|
Structure & network
Connections & network
No current directors or connected companies found in the register.
Group per the LEI register
1 branchForeign branch:اي اف كيو ام - فرع دبى
Recognitions · licences · registrations
Legal Entity Identifier
9845005B40F80A9F2F18
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Of 2,711 companies in sector 73200 we hold annual accounts for 1,787. 998 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate foundation
Founded07-02-2005
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0871740087
Also
9925:BE0871740087
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.