Equity
€23,779 from €79,114 in 2023
Equity fell by 70% in 2 years.
Human@Work
Overview
Lifetime
4 annual accounts with figures on one time axispeak €90,907 (2024)
-€22,758▼ €113,665
peak €56,726 (2024)
€10,828▼ 80.9%
peak €79,114 (2023)
€23,779▼ 17.5%
€161,824▼ 60.9%
Board1 name since 2017
1 directorBOLSENS Vanessa Gerard Josephina
Documentsfilings and deeds
28-06-202633 days before the deadline
2025micro format
Gross margin from €90,907 to -€22,758Result from €56,726 to €10,828Dividend €15,859Equity from €28,810 to €23,779Debts from €413,924 to €161,824Cash from €42,254 to €144,371
Key points
from the 2025 annual accountsDebts
€161,824 87% of the balance sheet
Investments
€10,266 8.9 × depreciation
Green is investment, beige is depreciation.
Turnover not published (micro format)
Checked score
90
Excellent
Financially stronger than 30% of micro companies in research and development (NACE 72)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 932 companies (NACE 72, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025lowest value
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.4%▲ +0.2 percentage points vs 07-2026
09-2026: 0.4%● unchanged vs 08-2026highest value
10-2026: 0.1%▼ -0.3 percentage points vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Equity €23,779 (12.8% of total assets)
lowers risk
Liquidity: current ratio 1.08, cash €144,371
Sector: Scientific research and development (NACE 72)
Size: total assets €185,603
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 72, micro). It does better than 25% of them on solvency, 35% on liquidity, 30% on profitability and 28% on growth.
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).
Comparable companies, two years later
In July 2024, 6,713 companies had the same profile as Human@Work has now. Each dot stands for 17 companies, two years later.
95.8%
were still trading
2.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Human@Work itself is lower: 0.1% within 12 months. It rests on far more data about Human@Work than the profile alone.
Test of the method
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 6,713 companies, not a prediction for Human@Work. 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.
Credit verdict
Credit of up to €2,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.08 (0.25 in 2024), below the usual 1.5. Short-term debt is 87.2% and cash 77.8% of total assets. 87.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 619 sector peers (2025).
NBB · sector comparisonPosition among 619 sector peers
Solvency
better than 21%
← weakest
strongest →
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 28-06-2026, 33 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
33 days early
2024
33 days early
2023
42 days early
2022
44 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 38 days before the deadline. In the sector (NACE 72), the median for financial year 2024 was 13 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 June (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0668698994
Change of role: BOLSENS Vanessa Gerard Josephina, from manager to director
Permanent representative: BOLSENS Vanessa Gerard Josephina · Legal-form conversion: from limited partnership to private limited company · General meeting of 23-03-2022 · Gazette deed
Incorporation
published on 17-01-2017 · Gazette deed
First establishment
The Power of People, Kapelstraat 26A, Lochristi
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Human@Work Lochristi | €185,603 | -€22,758 | 12.8% | - |
| CARDIO OV Brakel | €273,597 | -€15,007 | 60.2% | - |
| ISAPHAN Villers-la-Ville | €112,633 | -€1,951 | 80.4% | - |
| LBG Grimbergen | €297,675 | -€1,696 | 85.8% | - |
| ODIX Thimister-Clermont | €639,567 | -€84,558 | 63.8% | - |
| LISN Hélécine | €51,223 | -€6,075 | 43.3% | - |
| BREACH Brussels | €905,331 | -€286,586 | 83.3% | - |
These companies have the same main activity as Human@Work: scientific research and development (NACE 72200). They are comparable in size and age: total assets between €51,200 and €905,000, founded between 2008 and 2020.
Official details
Source: KBO- Status
- Active since 04-01-2017Normal situation
- Activity
- Scientific research and developmentNACE 72200and 2 others
- Establishment unit
- 2.260.726.4419080 Lochristi, since 04-01-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 24-11-2023
Annual accounts 2025
- -€22,758
- €10,828▼ 80.9%
- €23,779▼ 17.5%
- €185,603▼ 58.1%
- Filing
- Filed on 28-06-2026, 33 days before the end of the filing period
Insights on Human@Work
Human@Work files the micro format. That format states no turnover. The gross margin fell from €66,921 in 2022 to -€22,758 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 28-06-2026, 33 days before the deadline-€22,758
▼ €113,665
-€24,449
▼ €113,748
€10,828
▼ 80.9%
€12,142
▲ €184,387
12.8%
▲ 6.3 percentage points
1.08
▲ 0.83
Turnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €185,603 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
12.8%
Higher than 21% of 619 companies in 2025.
1.08
Higher than 21% of 579 companies in 2025.
5.8%
Higher than 38% of 596 companies in 2025.
Human@Work
Middle half of the sector
80% of the sector
Micro accounts in research and development (NACE 72)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
185,603 | 442,734 | 195,982 | 203,734 | |
21/28 |
11,637 | 385,619 | 133,639 | 135,050 | |
21 |
9,913 | - | - | - | |
22/27 |
1,724 | 2,519 | 3,639 | 5,050 | |
23 |
1,724 | 2,519 | 3,314 | - | |
24 |
- | 0 | 325 | 5,050 | |
28 |
0 | 383,100 | 130,000 | 130,000 | |
29/58 |
173,966 | 57,115 | 62,343 | 68,684 | |
40/41 |
27,563 | 13,482 | 18,878 | 13,885 | |
40 |
17,199 | 11,801 | 18,878 | 13,885 | |
41 |
10,364 | 1,682 | - | - | |
54/58 |
144,371 | 42,254 | 43,157 | 54,623 | |
490/1 |
2,032 | 1,379 | 308 | 176 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
185,603 | 442,734 | 195,982 | 203,734 | |
10/15 |
23,779 | 28,810 | 79,114 | 43,980 | |
10/11 |
250 | 250 | 250 | 250 | |
13 |
23,529 | 28,529 | 78,859 | 43,729 | |
133 |
23,529 | 28,529 | 78,859 | 43,729 | |
14 |
0 | 31 | 5 | 1 | |
17/49 |
161,824 | 413,924 | 116,868 | 159,754 | |
17 |
0 | 183,304 | 58,492 | 72,547 | |
170/4 |
0 | 183,304 | 58,492 | 72,547 | |
42/48 |
161,824 | 229,359 | 57,114 | 87,207 | |
42 |
0 | 37,860 | 14,055 | 13,835 | |
44 |
2,743 | 1,616 | 3,288 | 3,326 | |
440/4 |
2,743 | 1,616 | 3,288 | 3,326 | |
45 |
0 | 28,299 | 18,485 | 15,586 | |
450/3 |
0 | 28,299 | 18,485 | 15,586 | |
454/9 |
- | - | - | 0 | |
47/48 |
159,081 | 161,585 | 21,286 | 54,460 | |
492/3 |
0 | 1,261 | 1,262 | - | |
| Income statement | |||||
76A |
- | 0 | 5,108 | - | |
9900 |
-22,758 | 90,907 | 79,815 | 66,921 | |
630 |
1,148 | 1,120 | 2,494 | 3,653 | |
640/8 |
544 | 488 | 772 | 1,012 | |
9901 |
-24,449 | 89,299 | 76,549 | 62,256 | |
75/76B |
42,958 | 92 | 205 | 0 | |
75 |
1,058 | 92 | 205 | 0 | |
76B |
41,900 | - | - | - | |
65/66B |
7,499 | 10,346 | 3,203 | 1,890 | |
65 |
7,499 | 10,346 | 3,203 | 1,890 | |
9903 |
11,009 | 79,044 | 73,552 | 60,367 | |
67/77 |
181 | 22,318 | 23,417 | 17,651 | |
9904 |
10,828 | 56,726 | 50,134 | 42,715 | |
9905 |
10,828 | 56,726 | 50,134 | 42,715 | |
| Appropriation of the result | |||||
9906 |
10,859 | 56,731 | 50,135 | 42,716 | |
14P |
31 | 5 | 1 | 1 | |
791/2 |
5,000 | 55,330 | 14,000 | 0 | |
691/2 |
0 | 5,000 | 49,130 | 0 | |
6921 |
0 | 5,000 | 49,130 | 0 | |
694/7 |
15,859 | 107,030 | 15,000 | 42,715 | |
694 |
15,859 | 107,030 | 15,000 | 42,715 | |
| Document | |||||
The notes to these accounts have 20 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 28-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2022 to 2025, 4 entries, €13,552 awarded, €13,552 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €7,140 | €7,140 |
| 2024 | 1 | €2,984 | €2,984 |
| 2023 | 1 | €825 | €825 |
| 2022 | 1 | €2,603 | €2,603 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| -23,302 | 90,419 | 79,043 | 65,909 | ||
| 11,976 | 57,846 | 52,628 | 46,369 | ||
| 10,266 | 253,100 | 3,976 | 4,713 | ||
| 102,117 | -903 | -11,467 | - | ||
| 12,142 | -172,245 | 5,229 | -18,523 | ||
| 12.8% | 6.5% | 40.4% | 21.6% | ||
| 1.08 | 0.25 | 1.09 | 0.79 | ||
| 6.81 | 14.37 | 1.48 | 3.63 | ||
| 45.5% | 196.9% | 63.4% | 97.1% | ||
| 5.8% | 12.8% | 25.6% | 21.0% | ||
| -3.11 | 8.74 | 24.68 | 34.88 |
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.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| €100,000 | €100,000 | €100,000 | €100,000 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €3,976 | €4,713 |
| Intangible fixed assets | €10,266 | - | - | - |
| Financial fixed assets | - | €253,100 | - | - |
| €1,148 | €1,120 | €2,494 | €3,653 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on Human@Work
The operating result for 2025 is a loss of €24,449, after a profit of €89,299 in 2024. It is the lowest result since 2022.
Debt's share of the balance-sheet total falls from 93.5% to 87.2%. Equity and debt are lower.
Board & ownership
Board
1 director, last change in 2022Director (not named in the articles)
since 01-01-2017
term without a fixed end
earlier manager (not named in the articles), until 01-04-2022
listed in the 2025 annual accounts, filed on 28-06-2026
Mandates through the years
1 name, the dashed line is todayBOLSENS Vanessa Gerard Josephina
Director (not named in the articles)
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
- BOLSENS Vanessa Gerard Josephina
- Director (not named in the articles), from 01-01-2017 to date
- Manager (not named in the articles), until 01-04-2022
Control
Capital
- Contribution
- €250
- Source
- 2025 annual accounts
Articles of association
deed of 01-04-2022 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
Network & group
Holdings
own 2024 accountsThis companyHuman@Work1 holding, 1 country
2024 accounts
Belgium 1 Equity Result
- BE Fenix Holding15% €4.4m result €455,332
Source: list of holdings in its own 2024 accounts. Every holding stands with its own latest accounts.
Holdings and subsidiaries
1 holdingHoldings 1
Share, source and own figures per holding (1)
- Equity €4.4m Profit of €455,332 in 2025 (profit of €450,256 in 2024)Sourceown accounts 202415%
Connections & network
1 current directorThe network starts from the directors of Human@Work. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Timeline
11 events since 2017Board
Filings
Financial
Establishments
20182020202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 33 days before the deadline
2025
Weakest financial year net €10,828 ▼80.9% The net result drops to €10,828, the lowest from 2022 to 2025.
Liquidity more than quadruples current ratio 1.08 The current ratio rises from 0.25 to 1.08. Short-term debt falls from €229,359 to €161,824.
Annual accounts 2024 filed PDFmicro format · 33 days before the deadline
2024
Highest result from 2022 to 2025 net €56,726 ▲13.1% The operating result of €89,299 and the net result of €56,726 are both a record.
Annual accounts 2023 filed PDFmicro format · 42 days before the deadline
2023
Registered in the Peppol Directory Reachable for e-invoices through 0208:0668698994
Annual accounts 2022 filed PDFmicro format · 44 days before the deadline
2022
Change of role: BOLSENS Vanessa Gerard Josephina, from manager to directorPermanent representative: BOLSENS Vanessa Gerard Josephina · Legal-form conversion: from limited partnership to private limited company · General meeting of 23-03-20227 points ▸
- General meeting, 23-03-2022
- Legal-form conversion, from limited partnership to private limited company
- Accounting effect, 31-12-2021
- Director resignation, BOLSENS Vanessa Gerard Josephina (manager (not named in the articles))
- Director appointment, BOLSENS Vanessa Gerard Josephina (director (not named in the articles))
- Permanent representative, BOLSENS Vanessa Gerard Josephina
- Registered office clause, Kapelstraat 26A, 9080 Lochristi
- The deed holds 10 more points.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0668.698.994
- VAT number
- BE 0668.698.994
- Peppol ID
- 0208:0668698994
- Other Peppol ID
- 9925:BE0668698994
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 04-01-2017
- Financial year
- ends on 31 December
- Peppol
- Reachable since 24-11-2023Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Human@Work in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 01-04-2022 (in Dutch)
- Name clauseThe company operates under this name according to its articles.
- Human@Workdeed of 01-04-2022 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 01-04-2022 (in Dutch)
Activities
NACEBEL 202572200
Scientific research and development main activity
Codes under NACEBEL 2008
72200
Scientific research and development main activity
73200
Advertising, market research and public relations activities
78300
Employment activities
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| The Power of People registered office Kapelstraat 26A, 9080 Lochristi 62900 Other information technology and computer services | 04-01-2017 | 2.260.726.441 |
Buildings and parcels at the address
- Ground area
- 830 m²
- Buildings
- 136 m²
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44076F0772/00D000 | 830 m² | 1 · 136 m² | - |