GROW & CHANGE
ActiveSummary
GROW & CHANGE has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €98,361 and a net result of -€22,524. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 90% of 8765 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-75
Solvency100=
Growth35▼-18
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Four 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 · 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€22,524
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
20 d early
2023
21 d early
2022
40 d early
2021
21 d early
2020
13 d early
2019
120 d early
← 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 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 (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. Usually files around 11 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€2,889▼ 91.2%
2024 · €32,933
EBIT margin
-667.3%▼ 665.7pp
2024 · -1.6%
Net result
-€22,524▼ 1,520%
2024 · -€1,390
Working capital
€77,781▼ 19.8%
2024 · €96,990
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
Turnover€92,610▲ 257%€68,685▼ 25.8%€70,035▲ 2.0%€32,933▼ 53.0%€2,889▼ 91.2%
Operating result€27,294▲ 403%€10,725▼ 60.7%€4,434▼ 58.7%-€533-€19,278▼ 3,517%
Net result€20,703within the sector's middle half▲ 460%€8,196within the sector's middle half▼ 60.4%€3,353below the sector's middle half▼ 59.1%-€1,390below the sector's middle half-€22,524below the sector's middle half▼ 1,520%
EBIT margin29.5%▲ 8.5pp15.6%▼ 13.9pp6.3%▼ 9.3pp-1.6%▼ 7.9pp-667.3%▼ 665.7pp
Equity€111,226within the sector's middle half▲ 22.9%€118,922within the sector's middle half▲ 6.9%€122,275within the sector's middle half▲ 2.8%€120,885within the sector's middle half▼ 1.1%€98,361within the sector's middle half▼ 18.6%
Total assets€118,910within the sector's middle half▲ 8.2%€124,174within the sector's middle half▲ 4.4%€131,898below the sector's middle half▲ 6.2%€125,427below the sector's middle half▼ 4.9%€105,420below the sector's middle half▼ 16.0%
Debt€7,684▼ 60.3%€5,252▼ 31.7%€9,623▲ 83.2%€4,542▼ 52.8%€7,059▲ 55.4%
Working capital€99,423within the sector's middle half▲ 30.8%€81,820within the sector's middle half▼ 17.7%€91,965within the sector's middle half▲ 12.4%€96,990within the sector's middle half▲ 5.5%€77,781within the sector's middle half▼ 19.8%
Solvency93.5%above the sector's middle half▲ 11.1pp95.8%above the sector's middle half▲ 2.2pp92.7%above the sector's middle half▼ 3.1pp96.4%above the sector's middle half▲ 3.7pp93.3%above the sector's middle half▼ 3.1pp
Current ratio13.94above the sector's middle half▲ 9.0116.58above the sector's middle half▲ 2.6410.56above the sector's middle half▼ 6.0222.35above the sector's middle half▲ 11.8012.02above the sector's middle half▼ 10.34
Return on assets (ROA)17.4%within the sector's middle half▲ 14.0pp6.6%within the sector's middle half▼ 10.8pp2.5%within the sector's middle half▼ 4.1pp-1.1%below the sector's middle half▼ 3.7pp-21.4%below the sector's middle half▼ 20.3pp
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.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19,278 in 2025 against €533 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €105,420
Fixed assets
€20,580 ▼ 13.9%
Current assets
€84,840 ▼ 16.4%
Equity and liabilities €105,420
Equity
€98,361 ▼ 18.6%
Debt
€7,059 ▲ 55.4%
Debt's share of the balance-sheet total rises from 3.6% to 6.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€15,963▼
2024 · €5,882
Cash flow
-€19,209▼
2024 · €5,025
Debt to equity
0.07▲
2024 · 0.04
ROE
-22.9%▼
2024 · -1.1%
Interest coverage
-121.85▼
2024 · 41.42
Debt ≤ 1 year
€7,059▲
2024 · €4,542
Income taxes
€3,208▲
2024 · €756
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,834 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 5,834 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €92,610 | €68,685 | €70,035 | €32,933 | €2,889 | ▼ 91.2% |
| Non-recurring operating income76A | - | €3,440 | - | €11,590 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €61,904 | €56,645 | €58,310 | €37,298 | €11,756 | ▼ 68.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,852 | €4,101 | €6,792 | €6,415 | €3,315 | ▼ 48.3% |
| Other operating charges640/8 | €779 | €653 | €499 | €1,342 | €485 | ▼ 63.9% |
| Non-recurring operating charges66A | - | - | - | - | €6,611 | - |
| Gross operating margin9900 | €31,925 | €15,479 | €11,725 | €7,224 | -€8,867 | ▼ 223% |
| Operating profit (loss)9901 | €27,294 | €10,725 | €4,434 | -€533 | -€19,278 | ▼ 3,517% |
| Financial income75/76B | - | €22 | €59 | €41 | €93 | ▲ 127% |
| Recurring financial income75 | - | €22 | €59 | €41 | €93 | ▲ 127% |
| Financial charges65/66B | €525 | €115 | €122 | €142 | €131 | ▼ 7.7% |
| Recurring financial charges65 | €525 | €115 | €122 | €142 | €131 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €26,769 | €10,632 | €4,371 | -€634 | -€19,316 | ▼ 2,947% |
| Income taxes67/77 | €6,066 | €2,436 | €1,018 | €756 | €3,208 | ▲ 324% |
| Profit (loss) for the period9904 | €20,703 | €8,196 | €3,353 | -€1,390 | -€22,524 | ▼ 1,520% |
| Profit (loss) for the period to be appropriated9905 | €20,703 | €8,196 | €3,353 | -€1,390 | -€22,524 | ▼ 1,520% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €118,910 | €124,174 | €131,898 | €125,427 | €105,420 | ▼ 16.0% |
| Fixed assets21/28 | €11,803 | €37,102 | €30,310 | €23,895 | €20,580 | ▼ 13.9% |
| Tangible fixed assets22/27 | €11,803 | €37,102 | €30,310 | €23,895 | €20,580 | ▼ 13.9% |
| Furniture and vehicles24 | €11,803 | €7,952 | €4,100 | €625 | €250 | ▼ 60.0% |
| Other tangible fixed assets26 | - | €29,150 | €26,210 | €23,270 | €20,330 | ▼ 12.6% |
| Current assets29/58 | €107,107 | €87,072 | €101,588 | €101,532 | €84,840 | ▼ 16.4% |
| Amounts receivable within one year40/41 | €10,293 | €6,058 | €829 | €24,694 | €14,717 | ▼ 40.4% |
| Trade receivables40 | €10,293 | €3,099 | €829 | €3,713 | €1,685 | ▼ 54.6% |
| Other amounts receivable41 | - | €2,959 | - | €20,981 | €13,032 | ▼ 37.9% |
| Current investments50/53 | €6 | €6 | - | - | - | - |
| Cash at bank and in hand54/58 | €96,808 | €81,008 | €100,759 | €76,838 | €70,123 | ▼ 8.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €118,910 | €124,174 | €131,898 | €125,427 | €105,420 | ▼ 16.0% |
| Equity10/15 | €111,226 | €118,922 | €122,275 | €120,885 | €98,361 | ▼ 18.6% |
| Contributions10/11 | €18,600 | €20,460 | €20,460 | €20,460 | €20,460 | = |
| Capital10 | €18,600 | - | - | - | €20,460 | - |
| Issued capital100 | €18,600 | - | - | - | €20,460 | - |
| Outside capital11 | - | €20,460 | - | - | - | - |
| Other1109/19 | - | €20,460 | - | - | - | - |
| Reserves13 | €68,226 | €66,366 | €66,366 | €66,366 | €66,366 | = |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Distributable reserves133 | €66,366 | €66,366 | €66,366 | €66,366 | €66,366 | = |
| Profit (loss) carried forward14 | €24,400 | €32,096 | €35,449 | €34,059 | €11,535 | ▼ 66.1% |
| Amounts payable17/49 | €7,684 | €5,252 | €9,623 | €4,542 | €7,059 | ▲ 55.4% |
| Amounts payable within one year42/48 | €7,684 | €5,252 | €9,623 | €4,542 | €7,059 | ▲ 55.4% |
| Trade debts44 | €4,178 | €3,360 | €1,676 | €4,239 | €5,776 | ▲ 36.3% |
| Suppliers440/4 | €4,178 | €3,360 | €1,676 | €4,239 | €5,776 | ▲ 36.3% |
| Taxes, remuneration and social security45 | €3,405 | €1,892 | €3,055 | €303 | €1,283 | ▲ 323% |
| Taxes450/3 | €3,405 | €1,892 | €3,055 | €303 | €1,283 | ▲ 323% |
| Other amounts payable47/48 | €101 | €0 | €4,892 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,703 | €8,196 | €3,353 | -€1,390 | -€22,524 | ▼ 1,520% |
| + Depreciation and write-downs630 | €3,852 | €4,101 | €6,792 | €6,415 | €3,315 | ▼ 48.3% |
| Operating cash flow (approximation) | €24,555 | €12,297 | €10,145 | €5,025 | -€19,209 | ▼ 482% |
| Investment in fixed assets (approximation) | - | -€29,400 | €0 | €0 | €0 | - |
| Change in cash | - | -€15,800 | €19,751 | -€23,921 | -€6,715 | ▲ 71.9% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€22,524
Net result drops to -€22,524, the lowest in the series.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 22.35
Current ratio from 10.56 to 22.35; short-term debt falls from €9,623 to €4,542.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
10-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €20,703 ▲460%
Operating result €27,294, net result €20,703, both a record.
31-12
Financial
Liquidity triplescurrent ratio 13.94
Current ratio from 4.93 to 13.94; short-term debt falls from €19,348 to €7,684.
31-12
Financial
Equity above €100,000Eq €111,226 ▲22.9%
4 profitable years in a row build equity to €111,226.
18-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Liquidity triplescurrent ratio 13.77
Current ratio from 4.07 to 13.77; short-term debt falls from €27,927 to €7,288.
23-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 34 days late
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, Puurs-Sint-Amands · 1 establishment unit since 2020
Ground area
886 m²
Building footprint
176 m²
Volume, LiDAR
874 m³
Parcel 12008B0221/00S003, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Grow & Change
since 20202.309.585.242
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12008B0221/00S003 | Flanders | 886 m² | 1 · 176 m² | 9.2 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 3 entries · 3,124 EUR awarded · 3,124 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 225 EUR | 225 EUR |
| 2022 | 2 | 2,899 EUR | 2,899 EUR |
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 40,603 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
Founded31-01-1991
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Not found in the Peppol register
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.