Explane
ActiveSummary
Explane has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27k and a net result of €288k. Equity is growing by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 9% of 3307 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency28▼-3
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.91 against 0.99 in 2024; short-term debt: 51.3% and cash: 18.2% of total assets), and 97.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
2.7%
Return on assets
28.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 3307 sector peers (2025).
NBB · sector comparisonPosition among 3307 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 d early
2024
10 d early
2023
4 d early
2022
2 d early
2021
9 d early
2020
9 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€288k▲ 7.7%
2024 · €267k
2020: €203k
2021: €150k▼ -26.2% vs 2020lowest in 6 years
2022: €221k▲ +47.5% vs 2021
2023: €303k▲ +37.5% vs 2022highest in 6 years
2024: €267k▼ -12.0% vs 2023
2025: €288k▲ +7.7% vs 2024
2020 → 2025
Working capital
€-49k▼ 789%
2024 · €-6k
2020: €24k
2021: €33k▲ +41.9% vs 2020
2022: €155k▲ +364% vs 2021highest in 6 years
2023: €4k▼ -97.3% vs 2022
2024: €-6k▼ -232% vs 2023
2025: €-49k▼ -789% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€43k-€198k▲ 355%€59k▼ 70.3%€60k▲ 3.1%€27k▼ 55.2%
2021: €43k
2022: €198k▲ +355% vs 2021highest in 5 years
2023: €59k▼ -70.3% vs 2022
2024: €60k▲ +3.1% vs 2023
2025: €27k▼ -55.2% vs 2024lowest in 5 years
Operating result€175k-€235k▲ 34.0%€378k▲ 61.1%€320k▼ 15.4%€358k▲ 12.0%
2021: €175klowest in 5 years
2022: €235k▲ +34.0% vs 2021
2023: €378k▲ +61.1% vs 2022highest in 5 years
2024: €320k▼ -15.4% vs 2023
2025: €358k▲ +12.0% vs 2024
Net result€150k-€221k▲ 47.5%€303k▲ 37.5%€267k▼ 12.0%€288k▲ 7.7%
2021: €150klowest in 5 years
2022: €221k▲ +47.5% vs 2021
2023: €303k▲ +37.5% vs 2022highest in 5 years
2024: €267k▼ -12.0% vs 2023
2025: €288k▲ +7.7% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.02M
Fixed assets
€544k ▼ 3.6%
Current assets
€472k ▲ 7.4%
Equity and liabilities €1.02M
Equity
€27k ▼ 55.2%
Debt
€989k ▲ 4.8%
Debt's share of the balance-sheet total rises from 94.0% to 97.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€380k▲
2024 · €342k
Cash flow
€310k▲
2024 · €289k
Current ratio
0.91▼
2024 · 0.99
Debt to equity
36.52▲
2024 · 15.61
ROA
28.3%▲
2024 · 26.6%
Interest coverage
71.88▲
2024 · 64.31
Debt ≤ 1 year
€521k▲
2024 · €445k
Debt > 1 year
€468k▼
2024 · €498k
Income taxes
€66k▲
2024 · €48k
Staff costs
€57k▼
2024 · €62k
A ratio outside any meaningful range has been withheld (balance sheet total €1.02M, equity €27k).
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 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.00M€1.02M▲
Fixed assets21/28€564k€544k▼
Tangible fixed assets22/27€563k€543k▼
Land and buildings22€544k€526k▼
Furniture and vehicles24€19k€17k▼
Financial fixed assets28€600€600=
Current assets29/58€440k€472k▲
Amounts receivable within one year40/41€136k€150k▲
Trade receivables40€132k€146k▲
Other amounts receivable41€4k€4k=
Current investments50/53-€100k
Cash at bank and in hand54/58€261k€185k▼
Deferred charges and accrued income490/1€43k€38k▼
Equity and liabilities
Total equity and liabilities10/49€1.00M€1.02M▲
Equity10/15€60k€27k▼
Contributions10/11€6k€6k=
Reserves13€52k€20k▼
Distributable reserves133€52k€20k▼
Profit (loss) carried forward14€2k€1k▼
Amounts payable17/49€943k€989k▲
Amounts payable after more than one year17€498k€468k▼
Financial debts170/4€498k€468k▼
Amounts payable within one year42/48€445k€521k▲
Current portion of amounts payable after more than one year42€30k€30k=
Trade debts44€39k€95k▲
Suppliers440/4€39k€95k▲
Advances received on contracts in progress46€58k-
Taxes, remuneration and social security45€63k€101k▲
Taxes450/3€58k€83k▲
Remuneration and social security454/9€6k€18k▲
Other amounts payable47/48€254k€295k▲
Income statement
Code20242025
Remuneration, social security and pensions62€62k€57k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€22k▼
Other operating charges640/8€4k€4k▲
Gross operating margin9900€408k€441k▲
Operating profit (loss)9901€320k€358k▲
Financial income75/76B€355€713▲
Recurring financial income75€355€713▲
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€315k€354k▲
Income taxes67/77€48k€66k▲
Profit (loss) for the period9904€267k€288k▲
Profit (loss) for the period to be appropriated9905€267k€288k▲
Appropriation of the result
Profit (loss) to be appropriated9906€268k€290k▲
Profit (loss) brought forward from the previous period14P€629€2k▲
Transfer from equity791/2-€32k
Profit to be distributed694/7€265k€321k▲
Return on contributions (dividend)694€159k€246k▲
Directors or managers695€106k€73k▼
Other beneficiaries697-€2k
Social balance
Average headcount (FTE)90870.80.8=
The notes to these accounts (11 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 | €48k | €50k | €51k | €62k | €57k | ▼ 8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €26k | €24k | €22k | €22k | ▼ 2.1% |
| Other operating charges640/8 | €813 | €398 | €3k | €4k | €4k | ▲ 8.5% |
| Non-recurring operating charges66A | - | €7k | - | - | - | - |
| Gross operating margin9900 | €232k | €318k | €455k | €408k | €441k | ▲ 8.1% |
| Operating profit (loss)9901 | €175k | €235k | €378k | €320k | €358k | ▲ 12.0% |
| Financial income75/76B | - | - | €32 | €355 | €713 | ▲ 101% |
| Recurring financial income75 | - | - | €32 | €355 | €713 | ▲ 101% |
| Financial charges65/66B | €1k | €5k | €6k | €5k | €5k | ▼ 0.6% |
| Recurring financial charges65 | €1k | €5k | €6k | €5k | €5k | ▼ 0.6% |
| Profit (loss) for the period before taxes9903 | €174k | €230k | €372k | €315k | €354k | ▲ 12.3% |
| Income taxes67/77 | €24k | €9k | €69k | €48k | €66k | ▲ 38.2% |
| Profit (loss) for the period9904 | €150k | €221k | €303k | €267k | €288k | ▲ 7.7% |
| Profit (loss) for the period to be appropriated9905 | €150k | €221k | €303k | €267k | €288k | ▲ 7.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €371k | €1.02M | €1.13M | €1.00M | €1.02M | ▲ 1.2% |
| Fixed assets21/28 | €10k | €601k | €583k | €564k | €544k | ▼ 3.6% |
| Tangible fixed assets22/27 | €10k | €600k | €582k | €563k | €543k | ▼ 3.6% |
| Land and buildings22 | - | €579k | €562k | €544k | €526k | ▼ 3.3% |
| Furniture and vehicles24 | €10k | €22k | €20k | €19k | €17k | ▼ 11.2% |
| Financial fixed assets28 | - | €600 | €600 | €600 | €600 | = |
| Current assets29/58 | €361k | €422k | €549k | €440k | €472k | ▲ 7.4% |
| Amounts receivable within one year40/41 | €92k | €140k | €167k | €136k | €150k | ▲ 10.0% |
| Trade receivables40 | €84k | €120k | €153k | €132k | €146k | ▲ 10.3% |
| Other amounts receivable41 | €8k | €19k | €13k | €4k | €4k | = |
| Current investments50/53 | - | - | - | - | €100k | - |
| Cash at bank and in hand54/58 | €268k | €228k | €334k | €261k | €185k | ▼ 29.4% |
| Deferred charges and accrued income490/1 | €229 | €55k | €49k | €43k | €38k | ▼ 10.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €371k | €1.02M | €1.13M | €1.00M | €1.02M | ▲ 1.2% |
| Equity10/15 | €43k | €198k | €59k | €60k | €27k | ▼ 55.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €35k | €190k | €52k | €52k | €20k | ▼ 61.5% |
| Distributable reserves133 | €35k | €190k | €52k | €52k | €20k | ▼ 61.5% |
| Profit (loss) carried forward14 | €2k | €2k | €629 | €2k | €1k | ▼ 55.6% |
| Amounts payable17/49 | €327k | €826k | €1.07M | €943k | €989k | ▲ 4.8% |
| Amounts payable after more than one year17 | - | €559k | €528k | €498k | €468k | ▼ 6.1% |
| Financial debts170/4 | - | €559k | €528k | €498k | €468k | ▼ 6.1% |
| Amounts payable within one year42/48 | €327k | €267k | €545k | €445k | €521k | ▲ 17.0% |
| Current portion of amounts payable after more than one year42 | €5k | €30k | €30k | €30k | €30k | = |
| Trade debts44 | €25k | €63k | €26k | €39k | €95k | ▲ 140% |
| Suppliers440/4 | €25k | €63k | €26k | €39k | €95k | ▲ 140% |
| Advances received on contracts in progress46 | €37k | €59k | €64k | €58k | - | - |
| Taxes, remuneration and social security45 | €156k | €9k | €139k | €63k | €101k | ▲ 59.6% |
| Taxes450/3 | €148k | €5k | €131k | €58k | €83k | ▲ 44.0% |
| Remuneration and social security454/9 | €8k | €5k | €8k | €6k | €18k | ▲ 211% |
| Other amounts payable47/48 | €105k | €105k | €285k | €254k | €295k | ▲ 16.0% |
| Accrued charges and deferred income492/3 | - | - | €307 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €150k | €221k | €303k | €267k | €288k | ▲ 7.7% |
| + Depreciation and write-downs630 | €8k | €26k | €24k | €22k | €22k | ▼ 2.1% |
| Operating cash flow (approximation) | €158k | €247k | €327k | €289k | €310k | ▲ 6.9% |
| Investment in fixed assets (approximation) | - | €-617k | €-6k | €-3k | €-2k | ▲ 48.8% |
| Change in cash | - | €-40k | €106k | €-73k | €-77k | ▼ 5.5% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
21-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
27-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2020net €303k ▲37.5%
Operating result €378k, net result €303k, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €150kEq €198k ▲355%
3 profitable years in a row build equity to €198k.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €150k ▼26.2%
Net result drops to €150k, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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 2019
Ground area
1,434 m²
Building footprint
150 m²
Volume, LiDAR
2,243 m³
2 parcels, Wallonia · tallest building 18.3 m, ±5 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
EXPLANE
since 20192.294.404.940
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62814C0248/00Z002 | Wallonia | 937 m² | - | - |
| 62813F0039/00G000 ProtectedMonument · Site or landscape |
Wallonia | 498 m² | 1 · 150 m² | 18.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 22,056 companies in sector 69101 we hold annual accounts for 9,055. 6,558 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
Founded01-07-2019
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
Contact
Scores and ratios are computed by Checked and are not a credit decision.