Frédéric Nolf
ActiveSummary
Frédéric Nolf has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €87,851 and a net result of €82,849. Equity is growing by ~32.3% per year across the filed fiscal years. Its solvency ranks better than 24% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▼-6
Solvency47▼-15
Growth85=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity short (current ratio 0.9 against 3.85 in 2024; short-term debt: 77.1% and cash: 34.6% of total assets), and 78.5% of the assets are financed with debt.
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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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
21.5%
Return on assets
20.3%
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 24% of 31896 sector peers (2025).
NBB · sector comparisonPosition among 31896 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
29 d late
2024
63 d late
2023
68 d late
2022
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 48 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
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Financials · fiscal year 2025, micro schema
Turnover
€446,743▲ 190%
2022 · €154,020
EBIT margin
8.7%▼ 13.9pp
2022 · 22.6%
Net result
€82,849▼ 44.4%
2024 · €149,121
Working capital
-€30,716
2024 · €359,514
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Turnover€154,020-€446,743▲ 190%
Operating result€34,749-€38,693▲ 11.3%€207,780▲ 437%€106,598▼ 48.7%
Net result€27,005-€26,875▼ 0.5%€149,121▲ 455%€82,849▼ 44.4%
EBIT margin22.6%-8.7%▼ 13.9pp
Equity€29,005-€55,880▲ 92.7%€205,002▲ 267%€87,851▼ 57.1%
Total assets€94,367-€206,150▲ 118%€549,672▲ 167%€408,556▼ 25.7%
Debt€65,362-€150,270▲ 130%€344,670▲ 129%€320,705▼ 7.0%
Working capital€843--€30,171€359,514-€30,716
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2025 Equity -57% on 2024. Cause not known from the registers.
- 2024 Net result +455%, Equity +267%, Total assets +167% on 2023. Cause not known from the registers.
- 2023 Turnover +190%, Total assets +118% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 49% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €408,556
Fixed assets
€124,178 ▲ 93.4%
Current assets
€284,378 ▼ 41.4%
Equity and liabilities €408,556
Equity
€87,851 ▼ 57.1%
Debt
€320,705 ▼ 7.0%
Debt's share of the balance-sheet total rises from 62.7% to 78.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€123,936▼
2024 · €216,237
Cash flow
€100,187▼
2024 · €157,579
Current ratio
0.90▼
2024 · 3.85
Quick ratio
0.90▼
2024 · 3.85
Debt to equity
3.65▲
2024 · 1.68
ROE
94.3%▲
2024 · 72.7%
ROA
20.3%▼
2024 · 27.1%
Interest coverage
159.86▼
2024 · 846.69
Debt ≤ 1 year
€315,095▲
2024 · €125,958
Income taxes
€26,850▼
2024 · €46,951
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 7,976 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €154,020 | €446,743 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €119,392 | €391,045 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €110 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €603 | €12,211 | €8,457 | €17,338 | ▲ 105% |
| Other operating charges640/8 | €30 | €971 | €977 | €306 | ▼ 68.7% |
| Non-recurring operating charges66A | - | €8,009 | €3,068 | - | - |
| Gross operating margin9900 | €35,382 | €59,884 | €220,391 | €124,241 | ▼ 43.6% |
| Operating profit (loss)9901 | €34,749 | €38,693 | €207,780 | €106,598 | ▼ 48.7% |
| Financial income75/76B | - | €58 | €683 | €3,876 | ▲ 468% |
| Recurring financial income75 | - | €58 | €683 | €3,876 | ▲ 468% |
| Financial charges65/66B | €14 | €78 | €12,390 | €775 | ▼ 93.7% |
| Recurring financial charges65 | €14 | €78 | €255 | €775 | ▲ 204% |
| Non-recurring financial charges66B | - | - | €12,135 | - | - |
| Profit (loss) for the period before taxes9903 | €34,735 | €38,673 | €196,072 | €109,699 | ▼ 44.1% |
| Income taxes67/77 | €7,730 | €11,798 | €46,951 | €26,850 | ▼ 42.8% |
| Profit (loss) for the period9904 | €27,005 | €26,875 | €149,121 | €82,849 | ▼ 44.4% |
| Profit (loss) for the period to be appropriated9905 | €27,005 | €26,875 | €149,121 | €82,849 | ▼ 44.4% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €94,367 | €206,150 | €549,672 | €408,556 | ▼ 25.7% |
| Fixed assets21/28 | €33,041 | €101,912 | €64,199 | €124,178 | ▲ 93.4% |
| Tangible fixed assets22/27 | €33,041 | €101,912 | €64,199 | €124,178 | ▲ 93.4% |
| Plant, machinery and equipment23 | - | - | - | €67,500 | - |
| Furniture and vehicles24 | €5,118 | €50,157 | €11,795 | €10,538 | ▼ 10.7% |
| Other tangible fixed assets26 | €27,923 | €51,755 | €52,405 | €46,140 | ▼ 12.0% |
| Current assets29/58 | €61,326 | €104,238 | €485,473 | €284,378 | ▼ 41.4% |
| Stocks and contracts in progress3 | €1,390 | €1,044 | €456 | €456 | = |
| Stocks30/36 | €1,390 | €1,044 | €456 | €456 | = |
| Amounts receivable within one year40/41 | €36,130 | €49,130 | €9,375 | €140,033 | ▲ 1,394% |
| Trade receivables40 | €36,130 | €49,130 | €9,375 | €140,033 | ▲ 1,394% |
| Cash at bank and in hand54/58 | €23,806 | €52,918 | €473,114 | €141,210 | ▼ 70.2% |
| Deferred charges and accrued income490/1 | - | €1,146 | €2,528 | €2,680 | ▲ 6.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €94,367 | €206,150 | €549,672 | €408,556 | ▼ 25.7% |
| Equity10/15 | €29,005 | €55,880 | €205,002 | €87,851 | ▼ 57.1% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €27,005 | €53,880 | €203,002 | €85,851 | ▼ 57.7% |
| Amounts payable17/49 | €65,362 | €150,270 | €344,670 | €320,705 | ▼ 7.0% |
| Amounts payable within one year42/48 | €60,483 | €134,409 | €125,958 | €315,095 | ▲ 150% |
| Trade debts44 | €25,171 | €42,491 | €30,359 | €58,539 | ▲ 92.8% |
| Suppliers440/4 | €25,171 | €42,491 | €30,359 | €58,539 | ▲ 92.8% |
| Taxes, remuneration and social security45 | €35,312 | €43,998 | €63,515 | €33,385 | ▼ 47.4% |
| Taxes450/3 | €26,760 | €34,850 | €62,254 | €29,838 | ▼ 52.1% |
| Remuneration and social security454/9 | €8,552 | €9,148 | €1,261 | €3,547 | ▲ 181% |
| Other amounts payable47/48 | - | €47,920 | €32,085 | €223,170 | ▲ 596% |
| Accrued charges and deferred income492/3 | €4,879 | €15,861 | €218,712 | €5,611 | ▼ 97.4% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,005 | €26,875 | €149,121 | €82,849 | ▼ 44.4% |
| + Depreciation and write-downs630 | €603 | €12,211 | €8,457 | €17,338 | ▲ 105% |
| Operating cash flow (approximation) | €27,608 | €39,086 | €157,579 | €100,187 | ▼ 36.4% |
| Investment in fixed assets (approximation) | - | -€81,082 | €29,255 | -€77,316 | ▼ 364% |
| Change in cash | - | €29,112 | €420,196 | -€331,904 | ▼ 179% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
02-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 63 days late
2024
31-12
Financial
Highest result since 2022net €149,121 ▲455%
Operating result €207,780, net result €149,121, both a record.
31-12
Financial
Liquidity times 5current ratio 3.85
Current ratio from 0.78 to 3.85; short-term debt falls from €134,409 to €125,958.
31-12
Financial
Equity above €200,000Eq €205,002 ▲267%
3 profitable years in a row build equity to €205,002.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
31-12
Financial
Weakest financial yearnet €26,875 ▼0.5%
Net result drops to €26,875, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Nivelles · 1 establishment unit since 2022
Ground area
1,537 m²
Building footprint
201 m²
Volume, LiDAR
1,366 m³
Parcel 25783E0019/00C000, Wallonia · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Frédéric Nolf - Archibald & Joséphine - Flon Consulting Group
since 20222.334.090.412
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25783E0019/00C000 | Wallonia | 1,537 m² | 1 · 201 m² | 9.8 m · 2 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 40,371 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
Founded12-07-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
46341Wholesale of wines and spirits
55209Other holiday and short-stay accommodation
93299Other amusement and recreation activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0788469745
Also
9925:BE0788469745
Registered
05-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.