FINSEL
ActiveSummary
FINSEL has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €568,575 and a net result of €75,516. Equity is growing by ~67.8% per year across the filed fiscal years. Its solvency ranks better than 95% of 2936 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability84▼-16
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 16.82 against 6.07 in 2023; short-term debt: 5.4% and cash: 78.4% of total assets), and 5.4% 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○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 →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
94.6%
Return on assets
12.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-07-2025, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
13 d early
2023
40 d early
2022
39 d early
2021
38 d early
2020
43 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 34 days before 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 (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€568,575▲ 11.8%
2023 · €508,677
Total assets
€601,015▼ 1.3%
2023 · €608,872
Net result
€75,516▼ 54.8%
2023 · €166,969
Working capital
€513,219▲ 1.0%
2023 · €508,276
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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
Line20202021202220232024
Operating result€102,605▲ 341%€87,111▼ 15.1%€264,022▲ 203%€240,061▼ 9.1%€105,452▼ 56.1%
Net result€73,007within the sector's middle half▲ 367%€62,705within the sector's middle half▼ 14.1%€183,357within the sector's middle half▲ 192%€166,969within the sector's middle half▼ 8.9%€75,516within the sector's middle half▼ 54.8%
Equity€117,880within the sector's middle half▲ 163%€180,584within the sector's middle half▲ 53.2%€350,043within the sector's middle half▲ 93.8%€508,677within the sector's middle half▲ 45.3%€568,575within the sector's middle half▲ 11.8%
Total assets€129,276below the sector's middle half▲ 179%€198,473below the sector's middle half▲ 53.5%€393,367below the sector's middle half▲ 98.2%€608,872within the sector's middle half▲ 54.8%€601,015within the sector's middle half▼ 1.3%
Debt€11,397▲ 660%€17,889▲ 57.0%€43,324▲ 142%€100,195▲ 131%€32,441▼ 67.6%
Working capital€117,178▲ 161%€178,319▲ 52.2%€348,822▲ 95.6%€508,276▲ 45.7%€513,219▲ 1.0%
Solvency91.2%above the sector's middle half▼ 5.6pp91.0%above the sector's middle half▼ 0.2pp89.0%above the sector's middle half▼ 2.0pp83.5%above the sector's middle half▼ 5.4pp94.6%above the sector's middle half▲ 11.1pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 56% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €601,015
Fixed assets
€55,355 ▲ 13,699%
Current assets
€545,660 ▼ 10.3%
Equity and liabilities €601,015
Equity
€568,575 ▲ 11.8%
Debt
€32,441 ▼ 67.6%
Debt's share of the balance-sheet total falls from 16.5% to 5.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€110,065▼
2023 · €240,882
Cash flow
€80,129▼
2023 · €167,789
Current ratio
16.82▲
2023 · 6.07
Debt to equity
0.06▼
2023 · 0.20
ROE
13.3%▼
2023 · 32.8%
ROA
12.6%▼
2023 · 27.4%
Interest coverage
1070.25▼
2023 · 2035.50
Debt ≤ 1 year
€32,441▼
2023 · €100,195
Income taxes
€30,186▼
2023 · €73,282
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 17,792 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,860 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €224 | €643 | €1,044 | €820 | €4,613 | ▲ 462% |
| Other operating charges640/8 | - | €1,197 | €1,209 | €1,303 | €1,418 | ▲ 8.8% |
| Gross operating margin9900 | €103,760 | €88,951 | €266,275 | €242,185 | €111,483 | ▼ 54.0% |
| Operating profit (loss)9901 | €102,605 | €87,111 | €264,022 | €240,061 | €105,452 | ▼ 56.1% |
| Financial income75/76B | - | €412 | €343 | €308 | €353 | ▲ 14.6% |
| Recurring financial income75 | €303 | €412 | €343 | €308 | €353 | ▲ 14.6% |
| Financial charges65/66B | - | €106 | €99 | €118 | €103 | ▼ 13.1% |
| Recurring financial charges65 | €81 | €106 | €99 | €118 | €103 | ▼ 13.1% |
| Profit (loss) for the period before taxes9903 | €102,828 | €87,418 | €264,266 | €240,251 | €105,702 | ▼ 56.0% |
| Income taxes67/77 | €29,821 | €24,713 | €80,909 | €73,282 | €30,186 | ▼ 58.8% |
| Profit (loss) for the period9904 | €73,007 | €62,705 | €183,357 | €166,969 | €75,516 | ▼ 54.8% |
| Transfer from tax-exempt reserves789 | - | €756 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €73,007 | €63,460 | €183,357 | €166,969 | €75,516 | ▼ 54.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €129,276 | €198,473 | €393,367 | €608,872 | €601,015 | ▼ 1.3% |
| Fixed assets21/28 | €701 | €2,266 | €1,221 | €401 | €55,355 | ▲ 13,699% |
| Tangible fixed assets22/27 | €701 | €2,266 | €1,221 | €401 | €55,355 | ▲ 13,699% |
| Plant, machinery and equipment23 | - | €1,873 | €1,137 | €401 | €617 | ▲ 53.9% |
| Furniture and vehicles24 | - | €393 | €84 | €0 | €54,738 | - |
| Current assets29/58 | €128,575 | €196,208 | €392,146 | €608,471 | €545,660 | ▼ 10.3% |
| Amounts receivable within one year40/41 | €68,148 | €46,948 | €181,114 | €194,514 | €70,374 | ▼ 63.8% |
| Trade receivables40 | - | €41,156 | €173,174 | €188,356 | €49,860 | ▼ 73.5% |
| Other amounts receivable41 | - | €5,793 | €7,941 | €6,158 | €20,514 | ▲ 233% |
| Cash at bank and in hand54/58 | €57,230 | €145,801 | €208,074 | €408,217 | €471,225 | ▲ 15.4% |
| Deferred charges and accrued income490/1 | - | €3,459 | €2,958 | €5,740 | €4,061 | ▼ 29.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €129,276 | €198,473 | €393,367 | €608,872 | €601,015 | ▼ 1.3% |
| Equity10/15 | €117,880 | €180,584 | €350,043 | €508,677 | €568,575 | ▲ 11.8% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €111,680 | €174,384 | €343,843 | €502,477 | €562,375 | ▲ 11.9% |
| Non-distributable reserves130/1 | - | €1,248 | €1,248 | - | - | - |
| Reserves not available under the articles1311 | - | €1,248 | €1,248 | - | - | - |
| Distributable reserves133 | - | €173,136 | €342,595 | €502,477 | €562,375 | ▲ 11.9% |
| Amounts payable17/49 | €11,397 | €17,889 | €43,324 | €100,195 | €32,441 | ▼ 67.6% |
| Amounts payable within one year42/48 | €11,397 | €17,889 | €43,324 | €100,195 | €32,441 | ▼ 67.6% |
| Trade debts44 | €272 | €260 | €6,577 | €51,344 | €3,540 | ▼ 93.1% |
| Suppliers440/4 | - | €260 | €6,577 | €51,344 | €3,540 | ▼ 93.1% |
| Taxes, remuneration and social security45 | - | €17,629 | €22,848 | €40,516 | €13,282 | ▼ 67.2% |
| Taxes450/3 | - | €17,629 | €22,848 | €40,516 | €13,282 | ▼ 67.2% |
| Other amounts payable47/48 | - | - | €13,899 | €8,335 | €15,618 | ▲ 87.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,007 | €62,705 | €183,357 | €166,969 | €75,516 | ▼ 54.8% |
| + Depreciation and write-downs630 | €224 | €643 | €1,044 | €820 | €4,613 | ▲ 462% |
| Operating cash flow (approximation) | €73,231 | €63,348 | €184,402 | €167,789 | €80,129 | ▼ 52.2% |
| Investment in fixed assets (approximation) | - | -€2,207 | €0 | €0 | -€59,567 | - |
| Change in cash | - | €88,571 | €62,273 | €200,143 | €63,009 | ▼ 68.5% |
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
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity triplescurrent ratio 16.82
Current ratio from 6.07 to 16.82; short-term debt falls from €100,195 to €32,441.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500,000Eq €508,677 ▲45.3%
6 profitable years in a row build equity to €508,677.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €183,357 ▲192%
Operating result €264,022, net result €183,357, both a record.
31-12
Financial
Equity above €200,000Eq €350,043 ▲93.8%
5 profitable years in a row build equity to €350,043.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €150,000Eq €180,584 ▲53.2%
4 profitable years in a row build equity to €180,584.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €100,000Eq €117,880 ▲163%
3 profitable years in a row build equity to €117,880.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Liquidity times 5current ratio 30.93
Current ratio from 5.95 to 30.93; short-term debt falls from €5,875 to €1,499.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
01-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Leuven · 1 establishment unit since 2011
Ground area
168 m²
Building footprint
79 m²
Volume, LiDAR
583 m³
Parcel 24483E0235/00R015, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Peter Benoitlaan 17, 3010 Leuven
since 20112.198.187.868
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24483E0235/00R015 | Flanders | 168 m² | 1 · 79 m² | 10.6 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
2 ownersOwners 2
- Stefan Creemersnatural personSourceown accounts 202499%
- Kathleen Hulpiaunatural personSourceown accounts 20241%
Holdings 0
The accounts to 31-12-2024 list no holdings, and no other source names one.
According to the 2024 annual accounts of FINSEL 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 12,174 companies in sector 69201 we hold annual accounts for 7,638. 5,322 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
Founded04-04-2011
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
69202Legal and accounting activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0835365384
Also
9925:BE0835365384
Registered
04-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.