Turnover
The micro format states no turnover.
The micro format states no turnover.
The dashed line is the sector median: < 0.1% across 20,107 companies (NACE 69, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 69, micro). It does better than 67% of them on solvency, 79% on liquidity and 82% on profitability.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 11,279 companies had the same profile as High Note has now. Each dot stands for 29 companies, two years later.
That fits the bankruptcy probability of High Note itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 11,279 companies, not a prediction for High Note. 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.
Liquidity is ample, with a current ratio of 3.22, above the usual 1.5. Short-term debt is 30.1% and cash 87.8% of total assets. 30.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| High Note Sint-Lievens-Houtem | €43,226 | €40,012 | 69.9% | - |
| Lokaal Bestuur en Recht Koksijde | €42,408 | €36,416 | 71.2% | - |
| CATALINA LAMARCHE CONSULT Ixelles | €49,005 | €42,200 | 61.9% | - |
| PRAGMALEX Hasselt | €40,856 | €35,479 | 61.6% | - |
| GMGT Chastre | €48,120 | €36,602 | 64.1% | - |
| RLGLAW Etterbeek | €49,473 | €38,795 | 63.7% | - |
| Nitsuki Leuven | €46,757 | €36,664 | 67.4% | - |
These companies have the same main activity as High Note: other legal services (NACE 69109). They are comparable in size and age: total assets between €40,900 and €49,500, founded between 2024 and 2025.
High Note has been active since 2025 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €30,230 and a net result of €28,230.
Its solvency ranks better than 65% of 15,824 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €71,000 and €140,000.
Higher than 65% of 15,824 companies in 2025.
Higher than 64% of 15,596 companies in 2025.
Higher than 92% of 15,713 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
43,226 | |
21/28 |
1,418 | |
22/27 |
1,418 | |
23 |
1,418 | |
29/58 |
41,808 | |
40/41 |
3,842 | |
40 |
2,795 | |
41 |
1,047 | |
54/58 |
37,966 | |
| Balance sheet: equity and liabilities | ||
10/49 |
43,226 | |
10/15 |
30,230 | |
10/11 |
2,000 | |
13 |
28,230 | |
133 |
28,230 | |
17/49 |
12,996 | |
42/48 |
12,996 | |
44 |
1,794 | |
440/4 |
1,794 | |
45 |
11,202 | |
450/3 |
11,202 | |
| Income statement | ||
9900 |
40,012 | |
630 |
437 | |
9901 |
39,575 | |
75/76B |
0 | |
75 |
0 | |
65/66B |
143 | |
65 |
143 | |
9903 |
39,432 | |
67/77 |
11,202 | |
9904 |
28,230 | |
9905 |
28,230 | |
| Appropriation of the result | ||
9906 |
28,230 | |
691/2 |
28,230 | |
6921 |
28,230 | |
| Document | ||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00503988.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00503988 |
| Line | Trend | 2025 |
|---|---|---|
| 40,012 | ||
| 28,667 | ||
| 1,855 | ||
| 28,812 | ||
| 69.9% | ||
| 3.22 | ||
| 0.43 | ||
| 93.4% | ||
| 65.3% | ||
| over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 |
|---|---|
| Tangible fixed assets | €1,855 |
| €437 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Debt's share of the balance-sheet total is 30.1%.
High Note has no parent and no holdings in its annual accounts. BERLINGIERI Katia is the only director. High Note shares no director with another company.
| De Vuyst, Philippe (sole trader)
establishment since 01-07-2023 |
founded in 2023 0821.034.328 |
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Sint-Fledericusstraat 36 registered office 9520 Sint-Lievens-Houtem | 03-01-2025 | 2.368.217.287 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 41072A0239/00R000 | 1,110 m² | 1 · 154 m² | 9.4 m · 2 |
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