Active BE 0473.788.976Private limited company

EXCELERATE

Park Tremeland 69 ·3120 Tremelo, Belgium· 25 yrs active

Sector: Employment placement agencies (78100)

Conclusion Checked

EXCELERATE has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €635k and a net result of €-20k. Equity is shrinking by ~8% per year across the filed fiscal years. Its solvency ranks better than 95% of 997 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€635k
Net result	€-20k
Better than sector	95%
Active	25 yrs

Financial profile 5 of 5 axes measured · computed by Checked

60 / 100

Strong profile, led by solvency.

All 5 axes are computed from data Checked has read.

Health 70

Profitability 0

Solvency 100

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.4% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 2001, 25 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2024 · computed

70 / 100 Healthy

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€45k

estimate, not credit advice

Score history

93 2021

83 2022

70 2023

70 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 15.65 (≥ 1.5) +10

Quick ratio Quick ratio 15.65 (≥ 1.0) +5

Leverage Debt/equity 0.03 (< 1.0) +10

Profitability Negatieve ROE -3% -10

Interest coverage Interest coverage 20.2× (≥ 3×) +8

Profit trend Net profit down YoY -3

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview23 NBB filings

Annual accounts filed on 05-08-2025 with the NBB · fiscal year 2024 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~8%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 78, Employment activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	96.7%	54.6%	better than 95% of 997 sector peers
Net result	€-20k	€16k	better than 10% of 997 sector peers
Equity	€635k	€59k	better than 95% of 998 sector peers
Gross operating margin	€8k	€43k	better than 23% of 996 sector peers
Total assets	€657k	€128k	better than 93% of 997 sector peers

EBITDA

€6k

-25.8% 21-24

Net profit

€-20k

-27.4% 21-24

Cash flow

€7k

-25.9% 21-24

Total assets

€657k

-5.6% 21-24

Equity

€635k

-5.3% 21-24

Working capital

€317k

-6.9% 21-24

Income taxes

€473

-10.9% 21-24

Dividends

€15k

-93.5% 21-24

Debt

€22k

-14.2% 21-24

Debt ≤ 1y

€22k

+35.0% 21-24

Current ratio

15.65

-29.6% 21-24

Quick ratio

15.65

-29.6% 21-24

Solvency

96.7%

+0.3% 21-24

Debt / equity

0.03

-9.4% 21-24

ROE

-3.2%

-34.5% 21-24

ROA

-3.1%

-35.0% 21-24

Interest coverage

20.21

-50.8% 21-24

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2024 Δ	2023 Δ	2022 Δ	2021 Δ
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	-25.8%	-83.7%	+175.4%	-
Net profit	-27.4%	-	-81.9%	-
Cash flow	-25.9%	-81.4%	-71.2%	-
Staff costs	-	-	-	-
Income taxes	-10.9%	-94.0%	-40.7%	-
Dividends	-	-	+318.2%	-
Total assets	-5.6%	-8.0%	-18.0%	-
Equity	-5.3%	-2.3%	-22.8%	-
Debt	-14.2%	-63.8%	+108.7%	-
of which ≤ 1y	+35.0%	-77.0%	+112.8%	-
of which > 1y	-	-	-	-
Working capital	-6.9%	-13.0%	-31.9%	-
Employees (FTE)	-	-	-	-

Ratios (computed)

	2024	2023	2022	2021
Current ratio	15.65	22.24	6.62	18.56
Quick ratio	15.65	22.24	6.62	18.56
Working capital ratio	48.3%	49.0%	51.8%	62.3%
Solvency	96.7%	96.4%	90.8%	96.4%
Debt / equity	0.03	0.04	0.10	0.04
Long-term debt ratio	-	-	-	-
Interest coverage	20.21	41.05	191.66	61.33
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	-3.1%	-2.3%	3.7%	16.6%
ROE	-3.2%	-2.4%	4.0%	17.2%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €318k · 48.4% Current assets €339k · 51.6%

Equity & liabilities

Equity €635k · 96.7% Debt €22k · 3.3%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€657k	€696k	€756k	€922k
Fixed assets	21/28	€318k	€339k	€295k	€314k
Tangible fixed assets	22/27	€316k	€339k	€295k	€314k
Financial fixed assets	28	€2k	-	-	-
Current assets	29/58	€339k	€357k	€461k	€608k
Amounts receivable within one year	40/41	€43k	€23k	€7k	€30k
Investments	50/53	€153k	€152k	€152k	€151k
Cash & bank	54/58	€137k	€162k	€282k	€342k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€657k	€696k	€756k	€922k
Equity	10/15	€635k	€670k	€686k	€889k
Contributions / capital	10/11	€12k	€12k	€12k	€12k
Reserves	13	€659k	€674k	€674k	€876k
Accumulated profits (losses)	14	€-37k	€-16k	-	-
Amounts payable	17/49	€22k	€25k	€70k	€33k
Amounts payable within one year	42/48	€22k	€16k	€70k	€33k
Trade debts payable within one year	44	€13k	€6k	€8k	€8k
Income statement
Gross operating margin	9900	€8k	€10k	€54k	€25k
Operating result	9901	€-21k	€-17k	€30k	€-2k
Financial income	75	€1k	€1k	€7k	€5k
Financial charges	65	€316	€210	€275	€312
Result before taxes	9903	€-20k	€-16k	€37k	€168k
Income taxes	67/77	€473	€531	€9k	€15k
Net result for the period	9904	€-20k	€-16k	€28k	€153k
Result to be appropriated	9905	€-20k	€-16k	€28k	€172k

Legal Structure

NACE primary	Employment placement agencies(78100)
Legal form	Private limited company(610)
Incorporation	11-01-2001
Status	Active
Postal code	3120

Establishment units 1 location

Park Tremeland 69, 3120 Tremelo

NACE 7450101

since 20012.100.084.741

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24109A0282/00C000	Flanders	2,190 m²	1 · 203 m²	8.2 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

2025

05-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 5 days late

2024

31-12

Financial Weakest financial yearnet €-20k

Net result drops to €-20k, the lowest in the series.

27-05

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Liquidity triplescurrent ratio 22.24

Current ratio from 6.62 to 22.24; short-term debt falls from €70k to €16k.

11-05

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

07-03

State Gazette act Director changes

Joris Stalpaert

2022

30-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

21-06

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

29-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

28-05

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

31-05

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

31-03

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

30-05

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.

Belgian State Gazette reading coverage 0 of 2 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 3 years ago

2023

07-03-2023 Change in the board of directors Director changes·Joris Stalpaert

Notary: Joris Stalpaert · Tremelo

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "substantive_delegation",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "VAN WELY Philip Henri Marc Guy",
        "address": "3120 Tremelo, Park Tremeland 69",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "additional",
      "via_org": null,
      "statutory": "statutair",
      "compensated": false,
      "effective_date": null,
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "indefinite",
        "value": null
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "substantive_delegation",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "BECKERS Kathleen Gislena",
        "address": "3120 Tremelo, Park Tremeland 69",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "additional",
      "via_org": null,
      "statutory": "statutair",
      "compensated": false,
      "effective_date": null,
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "indefinite",
        "value": null
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": "Joris Stalpaert",
    "firm_city": null,
    "firm_name": null,
    "office_city": "Tremelo",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-03-07",
    "filing_date": "2023-03-03",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    },
    {
      "body": "algemene_vergadering",
      "date": "2023-02-22",
      "unanimous": true
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0473.788.976",
    "name_full": "EXCELERATE",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Joris Stalpaert",
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "geco\u00F6rdineerde statuten"
  ],
  "corrected_publication_numac": null
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

74501Employment placement agencies78100

Names & trade names

Legal nameNL

EXCELERATE

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