Excelling
ActiveSummary
Excelling has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8k and a net result of €43k. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 13% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+21
Solvency31▼-67
Growth58▲+6
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Four 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 →
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
5.6%
Return on assets
29.8%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-04-2026, 21 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
21 d early
2024
on the day
2023
4 d early
2022
10 d early
2021
3 d early
2020
1 d early
2019
10 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€8k▼ 92.4%
2024 · €105k
2018: €19k
2019: €44k▲ +131% vs 2018
2020: €78k▲ +75.4% vs 2019
2021: €101k▲ +30.3% vs 2020
2022: €90k▼ -10.7% vs 2021
2023: €95k▲ +4.7% vs 2022
2024: €105k▲ +11.4% vs 2023highest in 8 years
2025: €8k▼ -92.4% vs 2024lowest in 8 years
2018 → 2025
Total assets
€144k▲ 0.7%
2024 · €143k
2018: €33klowest in 8 years
2019: €86k▲ +161% vs 2018
2020: €89k▲ +3.7% vs 2019
2021: €117k▲ +31.1% vs 2020
2022: €91k▼ -21.5% vs 2021
2023: €128k▲ +40.4% vs 2022
2024: €143k▲ +11.7% vs 2023
2025: €144k▲ +0.7% vs 2024highest in 8 years
2018 → 2025
Net result
€43k▲ 270%
2024 · €12k
2018: €14k
2019: €25k▲ +76.9% vs 2018
2020: €33k▲ +33.1% vs 2019
2021: €24k▼ -29.5% vs 2020
2022: €-11k▼ -146% vs 2021lowest in 8 years
2023: €5k▲ +147% vs 2022
2024: €12k▲ +129% vs 2023
2025: €43k▲ +270% vs 2024highest in 8 years
2018 → 2025
Working capital
€4k▼ 96.1%
2024 · €102k
2018: €17k
2019: €43k▲ +154% vs 2018
2020: €76k▲ +75.1% vs 2019
2021: €100k▲ +31.9% vs 2020
2022: €86k▼ -14.7% vs 2021
2023: €92k▲ +7.6% vs 2022
2024: €102k▲ +10.3% vs 2023highest in 8 years
2025: €4k▼ -96.1% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€101k-€90k▼ 10.7%€95k▲ 4.7%€105k▲ 11.4%€8k▼ 92.4%
2021: €101k
2022: €90k▼ -10.7% vs 2021
2023: €95k▲ +4.7% vs 2022
2024: €105k▲ +11.4% vs 2023highest in 5 years
2025: €8k▼ -92.4% vs 2024lowest in 5 years
Operating result€31k-€-9k€7k€17k▲ 138%€56k▲ 233%
2021: €31k
2022: €-9k▼ -128% vs 2021lowest in 5 years
2023: €7k▲ +180% vs 2022
2024: €17k▲ +138% vs 2023
2025: €56k▲ +233% vs 2024highest in 5 years
Net result€24k-€-11k€5k€12k▲ 129%€43k▲ 270%
2021: €24k
2022: €-11k▼ -146% vs 2021lowest in 5 years
2023: €5k▲ +147% vs 2022
2024: €12k▲ +129% vs 2023
2025: €43k▲ +270% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 233% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €144k
Fixed assets
€5k ▲ 20.1%
Current assets
€140k ▲ 0.2%
Equity and liabilities €144k
Equity
€8k ▼ 92.4%
Debt
€136k ▲ 258%
Debt's share of the balance-sheet total rises from 26.6% to 94.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€59k▲
2024 · €18k
Cash flow
€46k▲
2024 · €13k
Current ratio
1.03▼
2024 · 3.67
Debt to equity
16.94▲
2024 · 0.36
ROE
534.6%▲
2024 · 11.0%
ROA
29.8%▲
2024 · 8.1%
Interest coverage
43.37▲
2024 · 8.12
Debt ≤ 1 year
€136k▲
2024 · €38k
Income taxes
€11k▲
2024 · €3k
Staff costs
€167▼
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€143k€144k▲
Fixed assets21/28€4k€5k▲
Tangible fixed assets22/27€4k€5k▲
Furniture and vehicles24€4k€5k▲
Current assets29/58€140k€140k▲
Amounts receivable within one year40/41€132k€132k▲
Trade receivables40€82k€82k▲
Other amounts receivable41€50k€50k=
Cash at bank and in hand54/58€7k€7k▼
Deferred charges and accrued income490/1€331€671▲
Equity and liabilities
Total equity and liabilities10/49€143k€144k▲
Equity10/15€105k€8k▼
Contributions10/11€5k€5k=
Reserves13€100k€3k▼
Distributable reserves133€100k€3k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€38k€136k▲
Amounts payable within one year42/48€38k€136k▲
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€23k€30k▲
Taxes450/3€6k€30k▲
Remuneration and social security454/9€17k€0▼
Other amounts payable47/48€13k€104k▲
Accrued charges and deferred income492/3€70€415▲
Income statement
Code20242025
Remuneration, social security and pensions62€3k€167▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€141€108▼
Gross operating margin9900€21k€59k▲
Operating profit (loss)9901€17k€56k▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€14k€54k▲
Income taxes67/77€3k€11k▲
Profit (loss) for the period9904€12k€43k▲
Profit (loss) for the period to be appropriated9905€12k€43k▲
Appropriation of the result
Profit (loss) to be appropriated9906€12k€43k▲
Transfer from equity791/2-€100k
Transfer to equity691/2€11k€3k▼
To other reserves6921€11k€3k▼
Profit to be distributed694/7€859€140k▲
Return on contributions (dividend)694€859€140k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €10k | €3k | €167 | ▼ 93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €580 | €633 | €2k | €2k | €3k | ▲ 71.5% |
| Other operating charges640/8 | €320 | €197 | €132 | €141 | €108 | ▼ 23.3% |
| Gross operating margin9900 | €32k | €-8k | €20k | €21k | €59k | ▲ 177% |
| Operating profit (loss)9901 | €31k | €-9k | €7k | €17k | €56k | ▲ 233% |
| Financial income75/76B | - | €1 | €0 | - | - | - |
| Recurring financial income75 | - | €1 | €0 | - | - | - |
| Financial charges65/66B | €2k | €2k | €2k | €2k | €1k | ▼ 40.6% |
| Recurring financial charges65 | €2k | €2k | €2k | €2k | €1k | ▼ 40.6% |
| Profit (loss) for the period before taxes9903 | €30k | €-11k | €5k | €14k | €54k | ▲ 276% |
| Income taxes67/77 | €6k | €187 | €262 | €3k | €11k | ▲ 301% |
| Profit (loss) for the period9904 | €24k | €-11k | €5k | €12k | €43k | ▲ 270% |
| Profit (loss) for the period to be appropriated9905 | €24k | €-11k | €5k | €12k | €43k | ▲ 270% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117k | €91k | €128k | €143k | €144k | ▲ 0.7% |
| Fixed assets21/28 | €961 | €5k | €3k | €4k | €5k | ▲ 20.1% |
| Tangible fixed assets22/27 | €961 | €5k | €3k | €4k | €5k | ▲ 20.1% |
| Furniture and vehicles24 | €961 | €5k | €3k | €4k | €5k | ▲ 20.1% |
| Current assets29/58 | €116k | €86k | €125k | €140k | €140k | ▲ 0.2% |
| Amounts receivable within one year40/41 | €107k | €80k | €117k | €132k | €132k | ▲ 0.1% |
| Trade receivables40 | €59k | €22k | €67k | €82k | €82k | ▲ 0.2% |
| Other amounts receivable41 | €49k | €57k | €50k | €50k | €50k | = |
| Cash at bank and in hand54/58 | €6k | €7k | €7k | €7k | €7k | ▼ 3.0% |
| Deferred charges and accrued income490/1 | €2k | €271 | €1k | €331 | €671 | ▲ 103% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117k | €91k | €128k | €143k | €144k | ▲ 0.7% |
| Equity10/15 | €101k | €90k | €95k | €105k | €8k | ▼ 92.4% |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves13 | €96k | €85k | €90k | €100k | €3k | ▼ 97.0% |
| Distributable reserves133 | €96k | €85k | €90k | €100k | €3k | ▼ 97.0% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €15k | €1k | €34k | €38k | €136k | ▲ 258% |
| Amounts payable within one year42/48 | €15k | €875 | €33k | €38k | €136k | ▲ 257% |
| Trade debts44 | €3k | €519 | €3k | €2k | €2k | ▼ 9.8% |
| Suppliers440/4 | €3k | €519 | €3k | €2k | €2k | ▼ 9.8% |
| Taxes, remuneration and social security45 | €12k | €356 | €29k | €23k | €30k | ▲ 27.4% |
| Taxes450/3 | €10k | €356 | €11k | €6k | €30k | ▲ 369% |
| Remuneration and social security454/9 | €2k | €0 | €19k | €17k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €708 | €13k | €104k | ▲ 731% |
| Accrued charges and deferred income492/3 | €175 | €292 | €603 | €70 | €415 | ▲ 490% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €-11k | €5k | €12k | €43k | ▲ 270% |
| + Depreciation and write-downs630 | €580 | €633 | €2k | €2k | €3k | ▲ 71.5% |
| Operating cash flow (approximation) | €24k | €-10k | €7k | €13k | €46k | ▲ 244% |
| Investment in fixed assets (approximation) | - | €-5k | €0 | €-3k | €-4k | ▼ 52.1% |
| Change in cash | - | €120 | €109 | €398 | €-215 | ▼ 154% |
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
09-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €43k ▲270%
Operating result €56k, net result €43k, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €100kEq €105k ▲11.4%
2 profitable years in a row build equity to €105k.
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
20-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity times 13current ratio 98.84
Current ratio from 7.55 to 98.84; short-term debt falls from €15k to €875.
27-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €100kEq €101k ▲30.3%
4 profitable years in a row build equity to €101k.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
30-09
Financial
Liquidity quadruplescurrent ratio 7.72
Current ratio from 2.05 to 7.72; short-term debt falls from €41k to €11k.
20-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Gent · 1 establishment unit since 2017
Ground area
3,691 m²
Building footprint
2,255 m²
Volume, LiDAR
44,261 m³
Parcel 44803C0881/00H000, Flanders · tallest building 27.6 m, ±7 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
Excelling
since 20172.266.586.825
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44803C0881/00H000 | Flanders | 3,691 m² | 1 · 2,255 m² | 27.6 m · 7 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 1,500 EUR awarded · 1,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,500 EUR | 1,500 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 20,559 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
Founded04-07-2017
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
62200Computer consultancy and computer facilities management
Contact
E-mail
bramlavens@excelling.be
Scores and ratios are computed by Checked and are not a credit decision.