Equity
€5.4m ▲ 94.4%
Equity rose in 2025: merger with.
EPAM SYSTEMS.BE
Lifetime
17 annual accounts with figures on one time axis, 28 filings since 1998peak €39.6m (2022)
€21.0m▼ 4.1%
lowest -€4.1m (2023)
-€2.0m▼ €189,926
peak €5.4m (2025)
€5.4m▲ 94.4%
€18.2m▲ 93.2%
peak 154.1 FTE (2022)
91.1 FTE▼ 18.1%
Board12 names since 2017
3 directors and 2 others
Owners3 names in the annual accounts
100%
Documentsfilings and deeds
30-06-202631 days before the deadline
2025financial year
Loss of €2.0mStaff from 111.2 FTE to 91.1 FTEMerger proposal: .BE takes over The Reference 25-11Merger: .BE takes over BELGIUM B.V. 03-11Merger proposal: .BE takes over BELGIUM B.V. 24-06Company renamed from Emakina.BE to .BE 06-02
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Key points
from the 2025 annual accountsLosses
-€9.2m in four years
Every financial year from 2022 to 2025 closed with a loss. 2023 was the heaviest.
Debts
€18.2m ▲ 93.2%
Debts rose by €8.8m in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Staff
91.1 FTE from 154.1 in 2022
Between 2022 and 2025, 41% of the full-time equivalents disappeared.
Payment terms
90 days to suppliers
.BE pays its suppliers 23 days later than in 2024. Customers pay 22 days later.
Restructuring
3
3 restructurings since 2025. Latest: merger with THE REFERENCE.
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Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 371 companies had the same profile as EPAM SYSTEMS.BE has now. Each dot is one company, two years later.
97.0%
were still trading
2.2%
stopped another way
0.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,448 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 371 companies, not a prediction for EPAM SYSTEMS.BE. 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.
Credit verdict
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Signals
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Board and ownership
- 100%annual accounts 2025
- consolidatedequity €17.7m (2025) · LEI register
Shares in 3 companies, including and
Board & ownershipRecent changes
Reappointment: Forvis Mazars Réviseurs d'Entreprises SRL (statutory auditor)
General meeting of 02-06-2026 · Gazette deed
Reappointment: (director)
Gazette deed
Amendment of the articles
General meeting of 11-03-2026 · Gazette deed
Merger: .BE takes over THE REFERENCE
General meeting of 05-01-2026 · Gazette deed
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Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| EPAM SYSTEMS.BE Watermael-Boitsfort | €21.0m | -9.5% | 22.8% | 91.1 |
| KORN FERRY (BE) Brussels | €25.5m | 12.1% | 23.9% | 60.1 |
| STANTEC La Hulpe | €26.3m | 6.5% | 38.3% | 66.1 |
| Ernst & Young Advisory Services Machelen (Brab.) | €36.6m | 2.8% | 30.4% | 114.2 |
| ROLAND BERGER Watermael-Boitsfort | €23.1m | 5.8% | 33.2% | 53.4 |
| ELEMENT61 Brussels | €27.6m | 16.2% | 55.6% | 98.7 |
| G4S CARE Brussels | €13.4m | 21.4% | 83.0% | 68.3 |
Grey: the largest companies of the sector (head offices and management consultancy (NACE 70)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as .BE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €12m and €24m, founded between 1990 and 2007.
Official details
Source: KBO- Status
- Active since 02-06-1998Normal situation
- Registered office
- 140 active companies are registered at this address15 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- Business and other management consultancyNACE 70200
- Establishment units
- 2.087.792.1681170 Watermael-Boitsfort, since 23-07-1998
- 2.386.231.7719000 Ghent, since 05-01-2026
- Financial year end
- 31 December
- Peppol
- Reachable since 30-12-2025
Annual accounts 2025
- €23.6m▲ 93.5%
- Employeeson 31-12-2025
- 87▼ 15.5%
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Companies linked to EPAM SYSTEMS.BE
Subsidiaries and holdings
- 100%
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Insights on EPAM SYSTEMS.BE
Turnover has fallen every year since 2022.
holds all the shares.
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Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about EPAM SYSTEMS.BE
- What is the company number of EPAM SYSTEMS.BE?
- The company number of .BE is 0463.478.965. The VAT number is the same number with BE in front: BE 0463.478.965.
- Where is EPAM SYSTEMS.BE based?
- The registered office is at Vorstlaan 25/6, 1170 Watermael-Boitsfort.Company details
- What does EPAM SYSTEMS.BE do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of EPAM SYSTEMS.BE?
- .BE is a private limited company (BV).
- When was EPAM SYSTEMS.BE founded?
- .BE was founded on 02-06-1998.
- Is EPAM SYSTEMS.BE still active?
- Yes, .BE is an active enterprise in the KBO register.
- How many employees does EPAM SYSTEMS.BE have?
- .BE had an average of 91.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of EPAM SYSTEMS.BE?
- The turnover of .BE was €21.0m in financial year 2025, according to the filed annual accounts.
- Is EPAM SYSTEMS.BE profitable?
- In financial year 2025, .BE made a loss of €2.0m.
- Where can I find the annual accounts of EPAM SYSTEMS.BE?
- .BE filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of EPAM SYSTEMS.BE due?
- .BE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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