FinSource
ActiveFrom the official registers: KBO 10 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
FinSource has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €565,208 and a net result of €50,987. Equity has been growing by about 44% per year since 2018. Its solvency ranks better than 53% of 1,682 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Official details
KBO- Status
- Active since 28-04-2015 Normal situation
- Legal form
- Public limited company
- Registered office
- Veldkant 33 A, 2550 Kontich
- Activity
- Computer consultancy and computer facilities management NACE 62200and 1 other
- Establishment unit
- 2.243.566.646 2550 Kontich, since 28-04-2015
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- De Cronos Groep NVDirector · since 27-10-2023 · permanent representative Josephus de Wit
- Auditor
- KPMG Bedrijfsrevisoren CVBA
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Turnover
- €8.6m
- ▼ 8.5%
- Profit
- €50,987
- ▼ 30.0%
- Equity
- €565,208
- ▲ 9.9%
- Total assets
- €1.3m
- ▼ 8.6%
- Staff
- 15.3 FTE
- ▼ 16.4%
Score breakdownraises riskLiquidity: current ratio 1.71, cash €13,734Size: turnover €8.6m, 15.3 FTE, total assets €1.3mlowers riskSector: Computer programming, consultancy and related activities (NACE 62)Legal form: public limited companyShow the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, small). It does better than 54% of them on solvency, 15% on liquidity, 28% on profitability and 39% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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Signals
The company filed its last 7 accounts on average 7 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, full format
2025 annual accounts filed 24 days after the deadline Filed on 24 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00425273.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 24-08-2026
- Format
- full format
- Reference
- 2026-00425273
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 23% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Companies with the same profile, two years later
Historical observationIn July 2024, 6,049 companies had the same profile as FinSource has now. Two years later, 0.4% had gone bankrupt and 96.0% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of FinSource itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,445 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 6,049 companies, not a prediction for FinSource. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.9m | €6.8m | €6.7m | €7.4m | €10.5m | €11.4m | €9.4m | €8.6m | ▼ 8.5% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €6.9m | €9.2m | €9.5m | €7.8m | €7.1m | ▼ 9.2% |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.9m | €1.4m | €1.4m | €1.3m | ▼ 3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €213 | €0.001m | €0.003m | €0.007m | €0.01m | €0.01m | €0.01m | ▼ 29.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €326 | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.003m | €0.007m | €0.008m | €0.006m | ▼ 16.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0 | - |
| Gross operating margin9900 | -€0.008m | €0.06m | €0.1m | €0.6m | €1.4m | €1.9m | €1.5m | €1.4m | ▼ 5.3% |
| Operating profit (loss)9901 | -€0.01m | €0.04m | €0.1m | €0.2m | €0.5m | €0.5m | €0.1m | €0.1m | ▼ 22.7% |
| Financial income75/76B | - | - | - | - | €55 | €0.004m | €0.005m | €0.004m | ▼ 17.9% |
| Recurring financial income75 | - | - | - | - | €55 | €0.004m | €0.005m | €0.004m | ▼ 17.9% |
| Financial charges65/66B | - | - | - | €0.01m | €0.01m | €0.03m | €0.04m | €0.04m | ▼ 14.1% |
| Recurring financial charges65 | €0.02m | €0.03m | €0.01m | €0.01m | €0.01m | €0.03m | €0.04m | €0.04m | ▼ 14.1% |
| Profit (loss) for the period before taxes9903 | -€0.03m | €0.02m | €0.1m | €0.2m | €0.5m | €0.5m | €0.1m | €0.08m | ▼ 25.9% |
| Income taxes67/77 | €0.001m | -€2 | €56 | €0.001m | €0.1m | €0.1m | €0.03m | €0.03m | ▼ 16.5% |
| Profit (loss) for the period9904 | -€0.03m | €0.02m | €0.1m | €0.2m | €0.4m | €0.3m | €0.07m | €0.05m | ▼ 30.0% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | - | €0.05m | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €0.05m | €0.1m | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€0.03m | €0.02m | €0.1m | €0.2m | €0.3m | €0.2m | €0.07m | €0.1m | ▲ 45.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.3m | €0.6m | €0.8m | €0.9m | €1.5m | €2.3m | €1.5m | €1.3m | ▼ 8.6% |
| Fixed assets21/28 | €0.002m | €0.001m | €0.004m | €0.01m | €0.02m | €0.03m | €0.02m | €0.01m | ▼ 44.8% |
| Tangible fixed assets22/27 | €0.002m | €0.001m | €0.004m | €0.01m | €0.02m | €0.03m | €0.02m | €0.01m | ▼ 42.0% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.009m | ▼ 44.3% |
| Furniture and vehicles24 | - | - | - | - | - | €0.004m | €0.003m | €0.002m | ▼ 28.2% |
| Financial fixed assets28 | - | - | - | - | - | - | €0.001m | - | - |
| Current assets29/58 | €1.3m | €0.6m | €0.8m | €0.9m | €1.5m | €2.3m | €1.5m | €1.3m | ▼ 8.1% |
| Amounts receivable within one year40/41 | €1.3m | €0.6m | €0.7m | €0.9m | €1.4m | €2.2m | €1.4m | €1.3m | ▼ 8.1% |
| Trade receivables40 | - | - | - | €0.9m | €1.2m | €1.1m | €0.9m | €0.8m | ▼ 17.8% |
| Other amounts receivable41 | - | - | - | €162 | €0.3m | €1.2m | €0.5m | €0.5m | ▲ 9.6% |
| Cash at bank and in hand54/58 | €0.01m | €0.01m | €0.03m | €0.01m | €0.01m | €0.03m | €0.01m | €0.01m | ▼ 1.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.01m | €0.03m | €0.02m | €0.02m | ▼ 9.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.3m | €0.6m | €0.8m | €0.9m | €1.5m | €2.3m | €1.5m | €1.3m | ▼ 8.6% |
| Equity10/15 | -€0.4m | -€0.4m | -€0.3m | -€0.06m | €0.3m | €0.6m | €0.5m | €0.6m | ▲ 9.9% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | - | - | - | - | €0.2m | €0.6m | €0.5m | €0.5m | ▲ 11.3% |
| Non-distributable reserves130/1 | - | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | - | €0.05m | €0.2m | €0.2m | €0.1m | ▼ 34.2% |
| Distributable reserves133 | - | - | - | - | €0.2m | €0.4m | €0.3m | €0.4m | ▲ 37.0% |
| Profit (loss) carried forward14 | -€0.4m | -€0.4m | -€0.3m | -€0.1m | €117 | €187 | €42 | €28 | ▼ 32.2% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | - | €326 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | - | €326 | - |
| Pensions and similar obligations160 | - | - | - | - | - | - | - | €326 | - |
| Amounts payable17/49 | €1.6m | €0.9m | €1.0m | €1.0m | €1.2m | €1.7m | €1.0m | €0.8m | ▼ 18.6% |
| Amounts payable within one year42/48 | €1.6m | €0.9m | €1.0m | €1.0m | €1.2m | €1.7m | €1.0m | €0.8m | ▼ 18.6% |
| Trade debts44 | €1.6m | €0.9m | €0.6m | €0.8m | €1.0m | €1.3m | €0.7m | €0.6m | ▼ 18.6% |
| Suppliers440/4 | - | - | - | €0.8m | €1.0m | €1.3m | €0.7m | €0.6m | ▼ 18.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 18.4% |
| Taxes450/3 | - | - | - | €0.01m | €0.08m | €0.1m | €0.08m | €0.03m | ▼ 59.3% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 2.8% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.01m | €0.03m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€34,564 | €17,452 | €101,140 | €199,282 | €355,884 | €344,320 | €72,855 | €50,987 | ▼ 30.0% |
| + Depreciation and write-downs630 | €3,330 | €213 | €766 | €2,501 | €6,914 | €12,169 | €14,813 | €10,477 | ▼ 29.3% |
| Operating cash flow (approximation) | -€31,234 | €17,666 | €101,906 | €201,782 | €362,798 | €356,490 | €87,668 | €61,463 | ▼ 29.9% |
| Investment in fixed assets (approximation) | - | €728 | -€3,723 | -€11,790 | -€12,179 | -€20,051 | -€9,546 | -€1,170 | ▲ 87.7% |
| Change in cash | - | €183 | €14,510 | -€13,856 | -€383 | €14,115 | -€11,429 | -€160 | ▲ 98.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 24-08-2026 | 2026-00425273 | NBB |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00251630 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00259502 | |
| 31-12-2022 | abbreviated format | 02-08-2023 | 2023-00311291 | |
| 31-12-2021 | abbreviated format | 02-08-2022 | 2022-20269816 | |
| 31-12-2020 | abbreviated format | 19-07-2021 | 2021-37300439 | |
| 31-12-2019 | abbreviated format | 09-07-2020 | 2020-28400198 | |
| 31-12-2018 | abbreviated format | 20-06-2019 | 2019-21200081 | |
| 31-12-2017 | abbreviated format | 27-07-2018 | 2018-39600067 | |
| 31-12-2016 | full format | 04-07-2017 | 2017-28300057 |
Comparable companies
These companies have the same main activity as FinSource: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €1.2m and €1.5m, founded between 2015 and 2016.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| FinSource Kontich | 2015 | €1.3m | €0.6m | €1.4m | €8.6m | €0.05m | 15.3 | 2025 |
| Swhite Antwerpen | 2015 | €1.5m | €1.1m | €1.3m | - | €0.2m | 16.5 | 2025 |
| Ticketmatic België Leuven | 2015 | €1.4m | €0.9m | €1.6m | - | €0.4m | 11.7 | 2025 |
| SECURE CODE WARRIOR Brugge | 2016 | €1.3m | €0.8m | €1.3m | - | -€0.008m | 12.5 | 2025 |
| Integration Designers Kontich | 2016 | €1.2m | €0.5m | €1.1m | €3.9m | €0.2m | 11.4 | 2025 |
They were chosen from the 18,969 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Statutory auditor 1
Mandate history
- Board
- Statutory auditor
| Name | Functions and periods |
|---|---|
| De Cronos Groep NV |
|
| KPMG Bedrijfsrevisoren CVBA |
|
Owners and capital
Shareholders
1 ownerChain of control
- Nuclys
- De Cronos Groep
- Bonanza Group
- FinSource
Owners 1
-
90%
Group and network
Connections & network
1 current directorThe network starts from the directors of FinSource. Every other company they run is a node.
History
Acts, filings and financial milestones
24-11
Gazette deed
Reappointment: KPMG Bedrijfsrevisoren CVBA (statutory auditor)Permanent representatives: Josephus de Wit, Dirk Deroost and 2 others · Appointment: De Cronos Groep NV (sole director)10 points ▸
- General meeting, 19-05-2023
- Auditor reappointment, KPMG Bedrijfsrevisoren CVBA (statutory auditor)
- Other provision, “einde mandaat commissaris van rechtswege, jaarvergadering van 2023” (deed in Dutch)
- General meeting, 26-10-2023
- Permanent representative, Josephus de Wit (vaste vertegenwoordiger van bestuurder)
- Permanent representative, Dirk Deroost (vaste vertegenwoordiger van bestuurder)
- Other provision, “afloop mandaat enige bestuurder”, 15-05-2026 (deed in Dutch)
- Director appointment, De Cronos Groep NV (sole director)
- Permanent representative, Gwen Cleirbaut (vaste vertegenwoordiger van commissaris)
- Permanent representative, Tim Vermeiren (vaste vertegenwoordiger van commissaris)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11024B0079/00F000 | Flanders | 3,333 m² | 1 · 932 m² | 10.3 m · 3 |