Equity
€27,076 from €197,584 in 2022
Equity fell by 86% in 3 years.
Explane
Lifetime
6 annual accounts with figures on one time axispeak €455,310 (2023)
€441,136▲ 8.1%
peak €303,476 (2023)
€287,618▲ 7.7%
peak €197,584 (2022)
€27,076▼ 55.2%
€988,745▲ 4.8%
peak 0.8 FTE (2020)
0.8 FTEunchanged
Board7 names since 2019
3 directorsALEX PN and 2 others
Documentsfilings and deeds
27-07-20264 days before the deadline
2025abbreviated format
1 director appointed, 1 resignation 08-07Dividend €245,737Equity from €60,424 to €27,076
Key points
from the 2025 annual accountsTurnover
≈ €760,000 estimated
The accounts state no turnover.
Debts
€988,745 97% of the balance sheet
Financial debts 47%Suppliers 10%Taxes and wages 10%Other 33%
Of this, €521,165 falls due within a year.
Staff
1 employees on 31-12-2025
In 2025, 2 people joined and 2 left.
Filings
6 annual accounts since 2020
The last five annual accounts were filed 2 to 10 days before the end of the period.
Position in the sector
2.7%
Lower solvency than 91% of companies in legal and accounting. Sector median 44.4% · 4,136 companies.
Checked score
91
Excellent
Financially stronger than 30% of micro companies in legal and accounting (NACE 69)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: < 0.1% across 20,107 companies (NACE 69, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%highest value
01-2025: < 0.1%▼ -0.1 percentage points vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%▲ +0.1 percentage points vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Equity €27,076 (2.7% of total assets)
lowers risk
Sector: Legal and accounting activities (NACE 69)
Figures for financial year 2025 (filed on 27-07-2026)
Size: 0.8 FTE, total assets €1.0m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 69, micro). It does better than 8% of them on solvency, 22% on liquidity, 82% on profitability and 10% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,153 companies had the same profile as Explane has now. Each dot stands for 6 companies, two years later.
96.1%
were still trading
2.2%
stopped another way
1.7%
went bankrupt
The bankruptcy probability of Explane itself is lower: 0.1% within 12 months. It rests on far more data about Explane than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,153 companies, not a prediction for Explane. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €2,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.91 (0.99 in 2024), below 1. Short-term debt is 51.3% and cash 18.2% of total assets. 97.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 4136 sector peers (2025).
NBB · sector comparisonPosition among 4136 sector peers
Solvency
better than 9%
← 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 27-07-2026, 4 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
4 days early
2024
10 days early
2023
4 days early
2022
2 days early
2021
9 days early
2020
9 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 6 days before the deadline. In the sector (NACE 69), 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 next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Michel Delnoy 300 sharesdeed of 08-07-2025
- Martin Lauwers 300 sharesdeed of 08-07-2025
- Alexandre Pirson 300 sharesdeed of 08-07-2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0729589557
1 director appointed, 1 resignation
Resignation: Zoé Vrolix · Appointment: ŒILLETS VX · Permanent representative: Zoé Vrolix · General meeting of 25-11-2024 · Gazette deed
3 directors appointed, 2 resignations
Issue of 300 shares · Appointments: Zoé Vrolix, SRL BCMD and SRL ALEX PN · Resignations: Michel Delnoy and Alexandre Pirson · General meeting of 30-06-2023 · Gazette deed
Registered office moved within Liège
New registered office: 43/11 Rue Albert Mockel à 4000 Liège · Previous registered office: Rue Saint Hubert 17 à 4000 Liège · Michel Delnoy holds 300 shares · General meeting of 12-09-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Explane Liège | €1.0m | €441,136 | 2.7% | 0.8 |
| Advocatenkantoor R.M.K. Fransis Kapellen | €1.0m | €550,346 | 0.8% | 0.5 |
| redsky legal Etterbeek | €1.3m | €352,718 | 67.5% | 0.9 |
| Arvo Ghent | €0.9m | €329,729 | 49.4% | 0.6 |
| resolut. Diest | €0.8m | €476,383 | 0.7% | 1.5 |
| Mploy Hasselt Leuven | €0.6m | €313,684 | 18.1% | 1 |
| Fort Leuven | €0.7m | €297,694 | 43.1% | 0.7 |
These companies have the same main activity as Explane: activities of lawyers (NACE 69101). They are comparable in size and age: total assets between €646,000 and €1.3m, founded between 2018 and 2020.
Official details
Source: KBO- Status
- Active since 01-07-2019Normal situation
- Activity
- Activities of lawyersNACE 69101
- Joint committee
- 336Liberal professions · annual accounts 2025
- Establishment unit
- 2.294.404.9404000 Liège, since 01-07-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 19-11-2025
Annual accounts 2025
- €1.0m▲ 1.2%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 27-07-2026, 4 days before the end of the filing period
Insights on Explane
Explane files the abbreviated format. That format states no turnover. The gross margin rose from €340,716 in 2020 to €441,136 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Explane
- What is the company number of Explane?
- The company number of Explane is 0729.589.557. The VAT number is the same number with BE in front: BE 0729.589.557.
- Where is Explane based?
- The registered office is at Rue Albert-Mockel 43, 4000 Liège.Company details
- What does Explane do?
- According to the KBO register, the main activity is activities of lawyers (NACE 69101).
- What is the legal form of Explane?
- Explane is a private limited company (BV).
- When was Explane founded?
- Explane was founded on 01-07-2019.
- Is Explane still active?
- Yes, Explane is an active enterprise in the KBO register.
- How many employees does Explane have?
- Explane had an average of 0.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Explane fall under?
- In its 2025 annual accounts, Explane states joint committee 336 (Liberal professions).
- What is the turnover of Explane?
- The turnover in financial year 2025 is ≈ €760,000. This figure is estimated from the gross margin of €441,136 and 64 comparable companies (NACE 69). It probably lies between €630,000 and €970,000.
- Is Explane profitable?
- In financial year 2025, Explane made a profit of €287,618.
- Where can I find the annual accounts of Explane?
- Explane filed 6 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Explane due?
- Explane must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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