ÉPICÉA
ActiveSummary
ÉPICÉA has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €109k and a net result of €35k. Equity is growing by ~22.5% per year across the filed fiscal years. Its solvency ranks better than 17% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▲+34
Solvency35▼-2
Growth52=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity short (current ratio 0.73 against 2.61 in 2024; short-term debt: 7.4% and cash: 1.9% of total assets), and 89.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2025Solvency, return and age of the figures
Solvency
10.3%
Return on assets
3.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
29 d early
2024
21 d early
2023
16 d early
2022
23 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Equity
€109k▲ 46.6%
2024 · €74k
Total assets
€1.06M▲ 75.4%
2024 · €606k
Net result
€35k
2024 · €-27k
Working capital
€-22k
2024 · €98k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€71k-€67k▼ 5.1%€-28k€68k
Net result€50k-€48k▼ 3.7%€-27k€35k
Equity€53k-€102k▲ 90.8%€74k▼ 26.8%€109k▲ 46.6%
Total assets€87k-€155k▲ 78.1%€606k▲ 292%€1.06M▲ 75.4%
Debt€34k-€53k▲ 58.0%€531k▲ 902%€953k▲ 79.4%
Working capital€30k-€83k▲ 175%€98k▲ 17.9%€-22k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €68k after a loss of €28k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.06M
Fixed assets
€1.01M ▲ 125%
Current assets
€57k ▼ 64.1%
Equity and liabilities €1.06M
Equity
€109k ▲ 46.6%
Debt
€953k ▲ 79.4%
Debt's share of the balance-sheet total rises from 87.7% to 89.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€77k▲
2024 · €-22k
Cash flow
€44k▲
2024 · €-21k
Current ratio
0.73▼
2024 · 2.61
Debt to equity
8.74▲
2024 · 7.15
ROE
31.8%▲
2024 · -36.6%
ROA
3.3%▲
2024 · -4.5%
Interest coverage
2.88▲
2024 · -186.73
Debt ≤ 1 year
€78k▲
2024 · €61k
Debt > 1 year
€875k▲
2024 · €471k
Income taxes
€7k▲
2024 · €185
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €9k | €6k | €9k | ▲ 52.4% |
| Other operating charges640/8 | €200 | €730 | €63 | €1k | ▲ 1,678% |
| Gross operating margin9900 | €76k | €77k | €-22k | €78k | ▲ 451% |
| Operating profit (loss)9901 | €71k | €67k | €-28k | €68k | ▲ 340% |
| Financial income75/76B | - | €2k | €1k | €333 | ▼ 73.1% |
| Recurring financial income75 | - | €2k | €1k | €333 | ▼ 73.1% |
| Financial charges65/66B | €25 | €211 | €119 | €27k | ▲ 22,241% |
| Recurring financial charges65 | €25 | €211 | €119 | €27k | ▲ 22,241% |
| Profit (loss) for the period before taxes9903 | €71k | €69k | €-27k | €41k | ▲ 253% |
| Income taxes67/77 | €21k | €20k | €185 | €7k | ▲ 3,561% |
| Profit (loss) for the period9904 | €50k | €48k | €-27k | €35k | ▲ 227% |
| Profit (loss) for the period to be appropriated9905 | €50k | €48k | €-27k | €35k | ▲ 227% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €87k | €155k | €606k | €1.06M | ▲ 75.4% |
| Fixed assets21/28 | €23k | €19k | €448k | €1.01M | ▲ 125% |
| Tangible fixed assets22/27 | €23k | €19k | €20k | €45k | ▲ 130% |
| Furniture and vehicles24 | €12k | €6k | €9k | €37k | ▲ 299% |
| Other tangible fixed assets26 | €11k | €13k | €10k | €8k | ▼ 22.3% |
| Financial fixed assets28 | - | - | €428k | €960k | ▲ 124% |
| Current assets29/58 | €64k | €136k | €158k | €57k | ▼ 64.1% |
| Amounts receivable within one year40/41 | €34k | €93k | €113k | €36k | ▼ 68.6% |
| Trade receivables40 | €30k | €39k | €42k | €17k | ▼ 59.3% |
| Other amounts receivable41 | €4k | €54k | €71k | €18k | ▼ 74.1% |
| Cash at bank and in hand54/58 | €29k | €41k | €45k | €20k | ▼ 54.9% |
| Deferred charges and accrued income490/1 | €116 | €2k | - | €1k | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €87k | €155k | €606k | €1.06M | ▲ 75.4% |
| Equity10/15 | €53k | €102k | €74k | €109k | ▲ 46.6% |
| Contributions10/11 | €3k | €3k | €3k | €3k | = |
| Reserves13 | €50k | €99k | €99k | €99k | = |
| Distributable reserves133 | €50k | €99k | €99k | €99k | = |
| Profit (loss) carried forward14 | - | - | €-27k | €7k | ▲ 127% |
| Amounts payable17/49 | €34k | €53k | €531k | €953k | ▲ 79.4% |
| Amounts payable after more than one year17 | - | - | €471k | €875k | ▲ 85.8% |
| Financial debts170/4 | - | - | €471k | €875k | ▲ 85.8% |
| Amounts payable within one year42/48 | €34k | €53k | €61k | €78k | ▲ 29.4% |
| Current portion of amounts payable after more than one year42 | - | - | €29k | €57k | ▲ 96.4% |
| Trade debts44 | €14k | €31k | €27k | €13k | ▼ 52.1% |
| Suppliers440/4 | €14k | €31k | €27k | €13k | ▼ 52.1% |
| Taxes, remuneration and social security45 | €17k | €21k | €5k | €8k | ▲ 74.1% |
| Taxes450/3 | €15k | €21k | €5k | €8k | ▲ 74.1% |
| Remuneration and social security454/9 | €2k | - | - | - | - |
| Other amounts payable47/48 | €2k | €2k | - | - | - |
| Accrued charges and deferred income492/3 | - | €12 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50k | €48k | €-27k | €35k | ▲ 227% |
| + Depreciation and write-downs630 | €5k | €9k | €6k | €9k | ▲ 52.4% |
| Operating cash flow (approximation) | €55k | €58k | €-21k | €44k | ▲ 305% |
| Investment in fixed assets (approximation) | - | €-5k | €-435k | €-567k | ▼ 30.4% |
| Change in cash | - | €12k | €4k | €-25k | ▼ 715% |
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
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
31-12
Financial
Equity above €100kEq €109k ▲46.6%
Equity rises from €74k to €109k.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-27k
Net result drops to €-27k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100kEq €102k ▲90.8%
2 profitable years in a row build equity to €102k.
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Schaarbeek · 1 establishment unit since 2022
Ground area
1,476 m²
Building footprint
156 m²
Volume, LiDAR
2,291 m³
Parcel 21015A0464/00L003, Brussels · tallest building 18.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
ÉPICÉA
since 20222.330.148.945
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21015A0464/00L003 | Brussels | 1,476 m² | 1 · 156 m² | 18.2 m · 5 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.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 40,734 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 limited company
Founded01-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.