Summary
EXCEL EQUITY has a registered holding activity and consists mainly of financial fixed assets. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.4m and a net result of €298,160. Equity has been growing by about 63% per year since 2022. Its solvency ranks better than 29% of 10,826 sector peers (NACE 70, financial year 2025). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 25-09-2020 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.307.432.733 9070 Destelbergen, since 25-09-2020
- Financial year end
- 30 June
- Peppol
- Reachable since 28-11-2025
Board and ownership
Board
- HESPEELS, Nathalie Georgette DominiqueDirector
Shareholders
- LIAGRE,Olivier Thibault Stéphane50 sharesdeed of 05-01-2026
- HESPEELS,Nathalie Georgette Dominique50 sharesdeed of 05-01-2026
- Holdings
- Shares in 1 company hebaco
Financial position
Holding: outside the score modelBankruptcy probability: sector outside the model
Annual accounts to 30-06-2025
- Gross margin
- €55,369
- ▼ 80.2%
- Turnover
- ≈ €110,000
- estimated
- Profit
- €298,160
- ▼ 39.6%
- Equity
- €1.4m
- ▲ 26.5%
- Total assets
- €5.1m
- ▼ 2.4%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity. Financial fixed assets make up more than half of its assets. The general model for operating companies does not fit such a balance sheet, so there is no score and no financial strength.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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Signals
1 signal.
neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 12-11-2025, 80 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
80 days early
2024
46 days early
2023
27 days early
2022
27 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 45 days before 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)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 26 December (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end05-11-2026 today31-01-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-11-2025 PDF all 4 filings
Turnover
≈ €110,000
Estimated: probably between €79,000 and €170,000
Total assets
€5.1m▼ 2.4%
2024 · €5.2m
Net result
€298,160▼ 39.6%
2024 · €493,619
Working capital
-€344,055▼ 58.2%
2024 · -€217,533
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€54,109
▼ 80.6%
2025
20222025
Net result
€298,160
▼ 39.6%
2025
highest quarter of the sector
20222025
Equity
€1.4m
▲ 26.5%
2025
highest quarter of the sector
20222025
Total assets
€5.1m
▼ 2.4%
2025
highest quarter of the sector
20222025
Debt
€3.6m
▼ 10.4%
2025
20222025
Working capital
-€344,055
▼ 58.2%
2025
lowest quarter of the sector
20222025
Solvency
28.1%
▲ 6.4pp
2025
middle half of the sector
20222025
Current ratio
0.17
▼ 0.30
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
5.9%
▼ 3.6pp
2025
middle half of the sector
20222025
Staff (FTE)
0
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€0.1m-€0.06m▼ 35.5%€0.3m▲ 350%€0.05m▼ 80.6%
Net result€0.3mabove the sector's middle half-€0.3mabove the sector's middle half▼ 5.6%€0.5mabove the sector's middle half▲ 63.1%€0.3mabove the sector's middle half▼ 39.6%
Equity€0.3mwithin the sector's middle half-€0.6mwithin the sector's middle half▲ 91.6%€1.1mwithin the sector's middle half▲ 77.9%€1.4mabove the sector's middle half▲ 26.5%
Total assets€5.1mabove the sector's middle half-€5.1mabove the sector's middle half▼ 1.3%€5.2mabove the sector's middle half▲ 2.5%€5.1mabove the sector's middle half▼ 2.4%
Debt€4.8m-€4.4m▼ 7.7%€4.1m▼ 8.2%€3.6m▼ 10.4%
Working capital-€0.3mbelow the sector's middle half--€0.4mbelow the sector's middle half▼ 27.0%-€0.2mbelow the sector's middle half▲ 39.9%-€0.3mbelow the sector's middle half▼ 58.2%
Solvency6.4%below the sector's middle half-12.5%below the sector's middle half▲ 6.1pp21.7%below the sector's middle half▲ 9.2pp28.1%within the sector's middle half▲ 6.4pp
Current ratio0.32below the sector's middle half-0.15below the sector's middle half▼ 0.170.47below the sector's middle half▲ 0.320.17below the sector's middle half▼ 0.30
Return on assets (ROA)6.2%within the sector's middle half-6.0%within the sector's middle half▼ 0.3pp9.5%within the sector's middle half▲ 3.5pp5.9%within the sector's middle half▼ 3.6pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 81% lower than in 2024 and the lowest since 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.1m
Fixed assets
€5.0m =
Current assets
€70,695 ▼ 63.7%
Equity and liabilities €5.1m
Equity
€1.4m ▲ 26.5%
Debt
€3.6m ▼ 10.4%
Debt's share of the balance-sheet total falls from 78.3% to 71.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
20.9%▼
2024 · 43.8%
Debt ≤ 1 year
€414,750▲
2024 · €412,121
Debt > 1 year
€3.2m▼
2024 · €3.6m
Income taxes
€29,816▼
2024 · €57,026
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Financial fixed assets | €5.0m | - | - | - |
| Depreciation and write-downs of the year | €1,040 | €0 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,040 | €0 | - | - | - |
| Other operating charges640/8 | €150 | €338 | €670 | €1,260 | ▲ 88.0% |
| Gross operating margin9900 | €97,379 | €62,332 | €279,945 | €55,369 | ▼ 80.2% |
| Operating profit (loss)9901 | €96,189 | €61,994 | €279,275 | €54,109 | ▼ 80.6% |
| Financial income75/76B | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Recurring financial income75 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Financial charges65/66B | €143,500 | €129,033 | €128,629 | €126,134 | ▼ 1.9% |
| Recurring financial charges65 | €143,500 | €129,033 | €128,629 | €126,134 | ▼ 1.9% |
| Profit (loss) for the period before taxes9903 | €352,689 | €332,961 | €550,646 | €327,975 | ▼ 40.4% |
| Income taxes67/77 | €32,063 | €30,269 | €57,026 | €29,816 | ▼ 47.7% |
| Profit (loss) for the period9904 | €320,626 | €302,692 | €493,619 | €298,160 | ▼ 39.6% |
| Profit (loss) for the period to be appropriated9905 | €320,626 | €302,692 | €493,619 | €298,160 | ▼ 39.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €5.1m | €5.1m | €5.2m | €5.1m | ▼ 2.4% |
| Fixed assets21/28 | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Financial fixed assets28 | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Current assets29/58 | €0.1m | €0.07m | €0.2m | €0.07m | ▼ 63.7% |
| Amounts receivable within one year40/41 | - | €0.01m | €0.01m | €0.02m | ▲ 84.1% |
| Trade receivables40 | - | €0.01m | €0.01m | €0.01m | = |
| Other amounts receivable41 | - | - | €5 | €0.01m | ▲ 2,017× |
| Cash at bank and in hand54/58 | €0.1m | €0.05m | €0.2m | €0.05m | ▼ 73.5% |
| Deferred charges and accrued income490/1 | €0.001m | €0.001m | €0.001m | €329 | ▼ 64.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €5.1m | €5.1m | €5.2m | €5.1m | ▼ 2.4% |
| Equity10/15 | €0.3m | €0.6m | €1.1m | €1.4m | ▲ 26.5% |
| Contributions10/11 | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.3m | €0.6m | €1.1m | €1.4m | ▲ 26.7% |
| Distributable reserves133 | €0.3m | €0.6m | €1.1m | €1.4m | ▲ 26.7% |
| Amounts payable17/49 | €4.8m | €4.4m | €4.1m | €3.6m | ▼ 10.4% |
| Amounts payable after more than one year17 | €4.3m | €3.9m | €3.6m | €3.2m | ▼ 9.9% |
| Financial debts170/4 | €4.3m | €3.9m | €3.6m | €3.2m | ▼ 9.9% |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 0.6% |
| Current portion of amounts payable after more than one year42 | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Trade debts44 | €0.004m | €0.004m | €0.001m | €0.002m | ▲ 15.4% |
| Suppliers440/4 | €0.004m | €0.004m | €0.001m | €0.002m | ▲ 15.4% |
| Taxes, remuneration and social security45 | €0.02m | €0.02m | €0.006m | €0.006m | ▲ 1.7% |
| Taxes450/3 | €0.02m | €0.02m | €0.002m | €0.002m | ▲ 3.9% |
| Remuneration and social security454/9 | - | €0.007m | €0.004m | €0.004m | ▲ 0.5% |
| Other amounts payable47/48 | €0.05m | €0.05m | €0.05m | €0.06m | ▲ 4.2% |
| Accrued charges and deferred income492/3 | €0.1m | €0.1m | €0.1m | €0.03m | ▼ 70.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €320,626 | €302,692 | €493,619 | €298,160 | ▼ 39.6% |
| + Depreciation and write-downs630 | €1,040 | €0 | - | - | - |
| Operating cash flow (approximation) | €321,666 | €302,692 | €493,619 | €298,160 | ▼ 39.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | -€80,491 | €127,873 | -€133,487 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
Board & ownership
Directors
Directors
1 director, last change in 2026
HESPEELS, Nathalie Georgette Dominique
Current
Director (not named in the articles) · in office according to the deed of 05-01-2026 · listed in the 2025 annual accounts, filed on 12-11-2025
Owners and capital
Shareholders
Stated in the deed
deed of 05-01-2026 ↗
- LIAGRE,Olivier Thibault Stéphane 50 shares
- HESPEELS,Nathalie Georgette Dominique 50 shares
Capital transactions
Capital over time
- 05-01-2026 Capital stated in the deed · 100 shares
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- hebacosubsidiarySourceown accounts 30-06-2025Equity €3.9m Profit of €1.5m in 2025 (profit of €939,504 in 2024) Checked score 99100%
Connections & network
1 current directorThe network starts from the directors of EXCEL EQUITY. Every other company they run is a node.
This company
Company
Director
Shareholding
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Timeline
Deeds, filings and financial milestones
Deadline for the 2026 accounts:
2026
05-01
Gazette deed
Amendment of the articlesLIAGRE, Olivier Thibault Stéphane holds 50 shares · HESPEELS, Nathalie Georgette Dominique holds 50 shares · Director in office: HESPEELS, Nathalie Georgette Dominique (director (not named in the articles))7 points ▸
Gazette deed
Amendment of the articles
LIAGRE, Olivier Thibault Stéphane holds 50 shares · HESPEELS, Nathalie Georgette Dominique holds 50 shares · Director in office: HESPEELS, Nathalie Georgette Dominique (director (not named in the articles))7 points ▸
- General meeting, 24-12-2025
- Incorporation, 24-09-2020
- LIAGRE, Olivier Thibault Stéphane holds 50 shares
- HESPEELS, Nathalie Georgette Dominique holds 50 shares
- 100 shares
- Director in office, HESPEELS, Nathalie Georgette Dominique (director (not named in the articles))
- Amendment of the articles, article 17
- The deed holds 1 more point.
2025
12-11
abbreviated format · 80 days before the deadline
30-06
Financial
Weakest financial yearnet €298,160 ▼39.6%
The net result drops to €298,160, the lowest from 2022 to 2025.
2024
16-12
abbreviated format · 46 days before the deadline
30-06
Financial
Highest result from 2022 to 2025net €493,619 ▲63.1%
The operating result of €279,275 and the net result of €493,619 are both a record.
30-06
Financial
Equity above €1mequity €1.1m ▲77.9%
With a profit in every financial year since 2022, equity grows to €1.1m.
04-01
abbreviated format · 27 days before the deadline
2023
30-06
Financial
Equity above €500,000equity €633,318 ▲91.6%
With a profit in every financial year since 2022, equity grows to €633,318.
04-01
abbreviated format · 27 days before the deadline
2020
29-09
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
EXCEL EQUITY in Dutch
Enterprise number
0754.879.833
Legal form
Private limited company
Status
Active, normal situation
Founded
25-09-2020
Entity type
Legal entity
Registered office and establishments
Registered office
Ter Ham 10, 9070 Destelbergen, Belgium
Establishment unit
Excel Equity, Ter Ham 10, 9070 Destelbergen since 25-09-2020 · unit number 2.307.432.733
Activities
NACEBEL 202570200
Business and other management consultancy main activity
64210
Activities of holding companies
Codes under NACEBEL 2008
70220
Business consulting main activity
64200
Holdings
Invoicing and payment
VAT number
BE 0754.879.833
Financial year and general meeting
Accounts at the NBBFinancial year end
30-06
Sites & property
Location
Buildings and parcels at the address
Ground area
3,953 m²
Building footprint
350 m²
Building volume
2,323 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44028D0545/00Z000 | Flanders | 3,953 m² | 1 · 350 m² | 19.4 m · 2 |