EXPECT
ActiveSummary
EXPECT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €137,716. Equity is growing by ~16.2% per year across the filed fiscal years. Its solvency ranks better than 69% of 1672 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78=
Solvency89▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity short (current ratio 0.25 against 0.43 in 2024; short-term debt: 14.2% and cash: 2% of total assets), and 36.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
63.8%
Return on assets
7.3%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
27 d late
2023
31 d late
2022
28 d late
2021
22 d late
2020
30 d late
2019
32 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€0
2018 · €0
EBIT margin
Not included in this filing
Net result
€137,716▼ 5.2%
2024 · €145,339
Working capital
-€203,538▼ 25.2%
2024 · -€162,561
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€151,448▲ 6.3%€176,651▲ 16.6%€238,588▲ 35.1%€233,709▼ 2.0%€211,463▼ 9.5%
Net result€84,861within the sector's middle half▲ 4.8%€110,353within the sector's middle half▲ 30.0%€161,456above the sector's middle half▲ 46.3%€145,339above the sector's middle half▼ 10.0%€137,716above the sector's middle half▼ 5.2%
Equity€676,668within the sector's middle half▲ 14.3%€787,021within the sector's middle half▲ 16.3%€947,677within the sector's middle half▲ 20.4%€1.1mabove the sector's middle half▲ 13.2%€1.2mabove the sector's middle half▲ 12.8%
Total assets€1.9mwithin the sector's middle half▲ 0.7%€1.9mwithin the sector's middle half▼ 1.1%€1.9mwithin the sector's middle half▲ 3.5%€2.0mabove the sector's middle half▲ 1.4%€1.9mabove the sector's middle half▼ 3.0%
Debt€1.2m▼ 5.7%€1.1m▼ 10.8%€982,813▼ 8.8%€884,961▼ 10.0%€687,530▼ 22.3%
Working capital-€199,322below the sector's middle half▼ 15.4%-€217,473below the sector's middle half▼ 9.1%-€181,657below the sector's middle half▲ 16.5%-€162,561below the sector's middle half▲ 10.5%-€203,538below the sector's middle half▼ 25.2%
Solvency35.9%within the sector's middle half▲ 4.3pp42.2%within the sector's middle half▲ 6.3pp49.1%within the sector's middle half▲ 6.9pp54.8%within the sector's middle half▲ 5.7pp63.8%within the sector's middle half▲ 9.0pp
Current ratio0.22below the sector's middle half▲ 0.020.14below the sector's middle half▼ 0.070.35below the sector's middle half▲ 0.210.43below the sector's middle half▲ 0.080.25below the sector's middle half▼ 0.19
Return on assets (ROA)4.5%within the sector's middle half▲ 0.2pp5.9%within the sector's middle half▲ 1.4pp8.4%within the sector's middle half▲ 2.4pp7.4%within the sector's middle half▼ 0.9pp7.3%within the sector's middle half▼ 0.2pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.8m ▼ 0.1%
Current assets
€66,409 ▼ 46.8%
Equity and liabilities €1.9m
Equity
€1.2m ▲ 12.8%
Debt
€687,530 ▼ 22.3%
Debt's share of the balance-sheet total falls from 45.2% to 36.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€215,397▼
2024 · €235,075
Cash flow
€141,651▼
2024 · €146,704
Debt to equity
0.57▼
2024 · 0.82
ROE
11.4%▼
2024 · 13.5%
Interest coverage
9.99▲
2024 · 6.50
Debt ≤ 1 year
€269,947▼
2024 · €287,339
Debt > 1 year
€417,583▼
2024 · €571,957
Income taxes
€53,354▼
2024 · €55,060
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,111 | €1,417 | €1,498 | €1,365 | €3,935 | ▲ 188% |
| Other operating charges640/8 | €1,082 | €978 | €1,316 | €56,138 | €12,912 | ▼ 77.0% |
| Gross operating margin9900 | €153,640 | €179,046 | €241,403 | €291,213 | €228,309 | ▼ 21.6% |
| Operating profit (loss)9901 | €151,448 | €176,651 | €238,588 | €233,709 | €211,463 | ▼ 9.5% |
| Financial income75/76B | - | €0 | €0 | €2,848 | €1,177 | ▼ 58.7% |
| Recurring financial income75 | - | €0 | €0 | €2,848 | €1,177 | ▼ 58.7% |
| Financial charges65/66B | €24,851 | €21,537 | €16,968 | €36,158 | €21,569 | ▼ 40.3% |
| Recurring financial charges65 | €24,851 | €21,537 | €16,968 | €36,158 | €21,569 | ▼ 40.3% |
| Profit (loss) for the period before taxes9903 | €126,597 | €155,115 | €221,621 | €200,399 | €191,070 | ▼ 4.7% |
| Income taxes67/77 | €41,736 | €44,762 | €60,165 | €55,060 | €53,354 | ▼ 3.1% |
| Profit (loss) for the period9904 | €84,861 | €110,353 | €161,456 | €145,339 | €137,716 | ▼ 5.2% |
| Profit (loss) for the period to be appropriated9905 | €84,861 | €110,353 | €161,456 | €145,339 | €137,716 | ▼ 5.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €1.9m | €1.9m | €2.0m | €1.9m | ▼ 3.0% |
| Fixed assets21/28 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | ▼ 0.1% |
| Tangible fixed assets22/27 | €2,673 | €1,256 | €3,882 | €6,198 | €4,853 | ▼ 21.7% |
| Plant, machinery and equipment23 | - | - | €1,399 | €932 | €0 | ▼ 100% |
| Furniture and vehicles24 | €2,673 | €1,256 | €2,483 | €5,265 | €4,853 | ▼ 7.8% |
| Financial fixed assets28 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Current assets29/58 | €55,225 | €36,810 | €99,608 | €124,778 | €66,409 | ▼ 46.8% |
| Amounts receivable within one year40/41 | €19,179 | €22,645 | €75,416 | €96,213 | €22,235 | ▼ 76.9% |
| Trade receivables40 | €19,167 | €21,085 | €24,159 | €55,571 | €22,102 | ▼ 60.2% |
| Other amounts receivable41 | €12 | €1,560 | €51,257 | €40,642 | €134 | ▼ 99.7% |
| Cash at bank and in hand54/58 | €34,360 | €11,607 | €22,217 | €24,905 | €37,336 | ▲ 49.9% |
| Deferred charges and accrued income490/1 | €1,686 | €2,558 | €1,975 | €3,661 | €6,838 | ▲ 86.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €1.9m | €1.9m | €2.0m | €1.9m | ▼ 3.0% |
| Equity10/15 | €676,668 | €787,021 | €947,677 | €1.1m | €1.2m | ▲ 12.8% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €52,000 | €52,000 | €52,000 | €52,000 | €1.2m | ▲ 2,190% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | - | - | - |
| Distributable reserves133 | €50,000 | €50,000 | €50,000 | €52,000 | €1.2m | ▲ 2,190% |
| Profit (loss) carried forward14 | €604,668 | €715,021 | €875,677 | €1.0m | €0 | ▼ 100% |
| Amounts payable17/49 | €1.2m | €1.1m | €982,813 | €884,961 | €687,530 | ▼ 22.3% |
| Amounts payable after more than one year17 | €953,683 | €823,762 | €701,548 | €571,957 | €417,583 | ▼ 27.0% |
| Financial debts170/4 | €633,683 | €508,762 | €381,548 | €251,957 | €87,766 | ▼ 65.2% |
| Other amounts payable178/9 | €320,000 | €315,000 | €320,000 | €320,000 | €329,817 | ▲ 3.1% |
| Amounts payable within one year42/48 | €254,547 | €254,283 | €281,265 | €287,339 | €269,947 | ▼ 6.1% |
| Current portion of amounts payable after more than one year42 | €127,423 | €129,691 | €131,985 | €134,308 | €123,437 | ▼ 8.1% |
| Trade debts44 | €13,523 | €11,159 | €3,446 | €4,913 | €13,781 | ▲ 181% |
| Suppliers440/4 | €13,523 | €11,159 | €3,446 | €4,913 | €13,781 | ▲ 181% |
| Taxes, remuneration and social security45 | €94,928 | €100,155 | €129,520 | €117,669 | €126,285 | ▲ 7.3% |
| Taxes450/3 | €94,928 | €100,155 | €129,520 | €117,669 | €126,285 | ▲ 7.3% |
| Other amounts payable47/48 | €18,673 | €13,278 | €16,314 | €30,450 | €6,445 | ▼ 78.8% |
| Accrued charges and deferred income492/3 | - | - | - | €25,664 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €84,861 | €110,353 | €161,456 | €145,339 | €137,716 | ▼ 5.2% |
| + Depreciation and write-downs630 | €1,111 | €1,417 | €1,498 | €1,365 | €3,935 | ▲ 188% |
| Operating cash flow (approximation) | €85,971 | €111,769 | €162,954 | €146,704 | €141,651 | ▼ 3.4% |
| Investment in fixed assets (approximation) | - | €0 | -€4,124 | -€3,681 | -€2,590 | ▲ 29.7% |
| Change in cash | - | -€22,753 | €10,610 | €2,687 | €12,432 | ▲ 363% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Equity above €1mEq €1.1m ▲13.2%
7 profitable years in a row build equity to €1.1m.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-12
Financial
Highest result since 2018net €161,456 ▲46.3%
Operating result €238,588, net result €161,456, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 22 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €80,978 ▼35.6%
Net result drops to €80,978, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
2019
31-12
Financial
Equity above €500,000Eq €510,830 ▲32.7%
2 profitable years in a row build equity to €510,830.
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
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, Liège · 1 establishment unit since 2014
Ground area
2,411 m²
Building footprint
596 m²
Volume, LiDAR
4,571 m³
Parcel 62078A0161/00R012, Wallonia · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
EXPECT SPRLU
since 20142.233.155.972
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62078A0161/00R012 | Wallonia | 2,411 m² | 1 · 596 m² | 10.9 m · 3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
71.31%
According to the 2025 annual accounts of EXPECT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,906. 2,740 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
Founded13-06-2014
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0553807543
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.