FinFlag
ActiveSummary
FinFlag has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €72,017 and a net result of €11,847. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 34% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+76
Solvency60▼-2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.55 in 2024; short-term debt: 62.9% and cash: 37.7% of total assets), but 64.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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
35.4%
Return on assets
5.8%
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
21 d late
2023
26 d late
2022
31 d late
2021
30 d late
2020
30 d late
2019
87 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 31 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€11,847
2024 · -€127,114
Working capital
€68,319▲ 30.5%
2024 · €52,335
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Operating result€191,211€5,492▼ 97.1%€6,713▲ 22.2%-€127,382€11,994
Net result€189,487above the sector's middle half€1,642below the sector's middle half▼ 99.1%€2,756within the sector's middle half▲ 67.8%-€127,114below the sector's middle half€11,847within the sector's middle half
Equity€235,514within the sector's middle half▲ 412%€184,528within the sector's middle half▼ 21.6%€187,284within the sector's middle half▲ 1.5%€60,170within the sector's middle half▼ 67.9%€72,017within the sector's middle half▲ 19.7%
Total assets€400,584within the sector's middle half▲ 71.9%€395,110within the sector's middle half▼ 1.4%€414,001within the sector's middle half▲ 4.8%€160,991within the sector's middle half▼ 61.1%€203,304within the sector's middle half▲ 26.3%
Debt€165,070▼ 11.7%€210,582▲ 27.6%€226,717▲ 7.7%€100,821▼ 55.5%€131,288▲ 30.2%
Working capital€227,106▲ 551%€166,043▼ 26.9%€275,959▲ 66.2%€52,335▼ 81.0%€68,319▲ 30.5%
Solvency58.8%within the sector's middle half▲ 39.0pp46.7%within the sector's middle half▼ 12.1pp45.2%within the sector's middle half▼ 1.5pp37.4%within the sector's middle half▼ 7.9pp35.4%within the sector's middle half▼ 2.0pp
Staff (FTE)3.4▲ 36.0%4.2▲ 23.5%6.4within the sector's middle half▲ 52.4%4.2▼ 34.4%1▼ 76.2%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €11,994 after a loss of €127,382 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €203,304
Fixed assets
€7,099 ▼ 43.9%
Current assets
€196,205 ▲ 32.3%
Equity and liabilities €203,304
Equity
€72,017 ▲ 19.7%
Debt
€131,288 ▲ 30.2%
Debt's share of the balance-sheet total rises from 62.6% to 64.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17,557▲
2024 · -€121,052
Cash flow
€17,409▲
2024 · -€120,785
Current ratio
1.53▼
2024 · 1.55
Debt to equity
1.82▲
2024 · 1.68
ROE
16.5%▲
2024 · -211.3%
ROA
5.8%▲
2024 · -79.0%
Interest coverage
96.31▲
2024 · -820.80
Debt ≤ 1 year
€127,886▲
2024 · €95,994
Income taxes
€0▼
2024 · €70
Staff costs
€59,462▼
2024 · €205,168
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,944 | €10 | €0 | - | - | - |
| Remuneration, social security and pensions62 | €177,682 | €211,179 | €272,432 | €205,168 | €59,462 | ▼ 71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,791 | €3,137 | €5,069 | €6,329 | €5,562 | ▼ 12.1% |
| Other operating charges640/8 | €348 | €348 | €384 | €389 | €400 | ▲ 2.9% |
| Non-recurring operating charges66A | €0 | €534 | €1,013 | €418 | €0 | ▼ 100% |
| Gross operating margin9900 | €372,032 | €220,690 | €285,611 | €84,923 | €77,419 | ▼ 8.8% |
| Operating profit (loss)9901 | €191,211 | €5,492 | €6,713 | -€127,382 | €11,994 | ▲ 109% |
| Financial income75/76B | €13 | €2 | €327 | €484 | €35 | ▼ 92.7% |
| Recurring financial income75 | €13 | €2 | €327 | €484 | €35 | ▼ 92.7% |
| Financial charges65/66B | €1,737 | €463 | €307 | €147 | €182 | ▲ 23.6% |
| Recurring financial charges65 | €1,737 | €463 | €307 | €147 | €182 | ▲ 23.6% |
| Profit (loss) for the period before taxes9903 | €189,487 | €5,032 | €6,733 | -€127,045 | €11,847 | ▲ 109% |
| Income taxes67/77 | €0 | €3,390 | €3,977 | €70 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €189,487 | €1,642 | €2,756 | -€127,114 | €11,847 | ▲ 109% |
| Profit (loss) for the period to be appropriated9905 | €189,487 | €1,642 | €2,756 | -€127,114 | €11,847 | ▲ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €400,584 | €395,110 | €414,001 | €160,991 | €203,304 | ▲ 26.3% |
| Fixed assets21/28 | €8,408 | €18,485 | €21,285 | €12,662 | €7,099 | ▼ 43.9% |
| Intangible fixed assets21 | €4,583 | €3,383 | €13,511 | €9,953 | €6,612 | ▼ 33.6% |
| Tangible fixed assets22/27 | €2,520 | €8,147 | €7,649 | €2,584 | €363 | ▼ 86.0% |
| Furniture and vehicles24 | €2,520 | €8,147 | €7,649 | €2,584 | €363 | ▼ 86.0% |
| Financial fixed assets28 | €1,305 | €6,955 | €125 | €125 | €125 | = |
| Current assets29/58 | €392,175 | €376,624 | €392,716 | €148,329 | €196,205 | ▲ 32.3% |
| Amounts receivable within one year40/41 | €196,665 | €182,031 | €76,363 | €57,423 | €110,934 | ▲ 93.2% |
| Trade receivables40 | €196,665 | €174,421 | €63,154 | €38,882 | €102,473 | ▲ 164% |
| Other amounts receivable41 | €0 | €7,610 | €13,209 | €18,541 | €8,462 | ▼ 54.4% |
| Current investments50/53 | €150,000 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €42,369 | €186,861 | €279,961 | €43,948 | €76,547 | ▲ 74.2% |
| Deferred charges and accrued income490/1 | €3,141 | €7,732 | €36,392 | €46,958 | €8,723 | ▼ 81.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €400,584 | €395,110 | €414,001 | €160,991 | €203,304 | ▲ 26.3% |
| Equity10/15 | €235,514 | €184,528 | €187,284 | €60,170 | €72,017 | ▲ 19.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €0 | - | - | - | - |
| Distributable reserves133 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €227,454 | €176,468 | €179,224 | €52,110 | €63,957 | ▲ 22.7% |
| Amounts payable17/49 | €165,070 | €210,582 | €226,717 | €100,821 | €131,288 | ▲ 30.2% |
| Amounts payable within one year42/48 | €165,070 | €210,582 | €116,757 | €95,994 | €127,886 | ▲ 33.2% |
| Financial debts43 | €2,038 | €709 | €93 | €57 | €548 | ▲ 867% |
| Credit institutions430/8 | €2,038 | €709 | €93 | €57 | €548 | ▲ 867% |
| Trade debts44 | €117,523 | €160,336 | €61,691 | €78,267 | €117,551 | ▲ 50.2% |
| Suppliers440/4 | €117,523 | €160,336 | €61,691 | €78,267 | €117,551 | ▲ 50.2% |
| Taxes, remuneration and social security45 | €42,874 | €46,867 | €54,005 | €16,617 | €8,733 | ▼ 47.4% |
| Taxes450/3 | €26,129 | €25,326 | €17,976 | €7,868 | €1,732 | ▼ 78.0% |
| Remuneration and social security454/9 | €16,746 | €21,541 | €36,029 | €8,749 | €7,002 | ▼ 20.0% |
| Other amounts payable47/48 | €2,634 | €2,669 | €969 | €1,054 | €1,054 | = |
| Accrued charges and deferred income492/3 | - | - | €109,960 | €4,827 | €3,402 | ▼ 29.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €189,487 | €1,642 | €2,756 | -€127,114 | €11,847 | ▲ 109% |
| + Depreciation and write-downs630 | €2,791 | €3,137 | €5,069 | €6,329 | €5,562 | ▼ 12.1% |
| Operating cash flow (approximation) | €192,278 | €4,779 | €7,825 | -€120,785 | €17,409 | ▲ 114% |
| Investment in fixed assets (approximation) | - | -€13,214 | -€7,869 | €2,294 | €0 | ▼ 100% |
| Change in cash | - | €144,492 | €93,100 | -€236,014 | €32,600 | ▲ 114% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €11,847
Net result €11,847 after one loss-making year.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Weakest financial yearnet -€127,114
Net result drops to -€127,114, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €189,487
Net result €189,487 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.38
Current ratio from 1.19 to 2.38; short-term debt falls from €186,981 to €165,070.
31-12
Financial
Equity above €200,000Eq €235,514 ▲412%
Equity rises from €46,027 to €235,514.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
Show earlier events
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
01-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 1 day late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 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, Schaarbeek · 1 establishment unit since 2014
Ground area
473 m²
Building footprint
122 m²
Volume, LiDAR
1,957 m³
Parcel 21904B0450/00L006, Brussels · tallest building 20.1 m, ±6 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
FinFlag
since 20142.236.037.763
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21904B0450/00L006 | Brussels | 473 m² | 1 · 122 m² | 20.1 m · 6 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.
Similar companies · same sector, comparable size
LinkIt-All
BE 0553.818.332
Mechelen · Eq €72,019
Tactic Shift
BE 0770.487.925
Sint-Lambrechts-Woluwe · Eq €72,008
Axello
BE 0766.374.432
Harelbeke · Eq €72,027
"DIGIMMO"
BE 0686.729.118
Beauvechain · Eq €72,028
HAUTOT RECRUIT
BE 0779.622.652
Pajottegem · Eq €72,002
Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 39,783 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
Founded24-10-2014
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0565993812
Also
9925:BE0565993812
Registered
16-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.